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This Agreement and Declaration of Trust originally made and executed on the fifth day of December, 1965, in the City of Trenton, County of Mercer, and State of New Jersey, by and between the New Jersey Association of Osteopathic Physicians and Surgeons, a corporation not for pecuniary profit, hereinafter referred to as the “Association”, and Drs. M. Michael Belkoff, Richard Feige, Sidney M. Grobman and David Steinbaum, hereinafter referred to as “Trustees”, and as amended on November 10, 1968, May 5, 1977, November 2, 1980, May 6, 1989, October 25, 2009, April 13, 2010 and further amended on April 9, 2013.

WHEREAS, the Bylaws of the Association now provide that a portion of the dues may be determined to be paid into a fund to support osteopathic education; and

WHEREAS, the Association desires to create a Foundation under which all such money subject to the use thereof and such other monies as may be received from any other sources may be held in said Foundation as hereinafter defined,

NOW, THEREFORE, in consideration of the premises and of the mutual covenants, it is agreed that a Foundation is hereby created, and it is further agreed as follows:

This fund shall be known as the New Jersey Osteopathic Education Foundation. This fund shall include the corpus and earnings, appreciation, or additions thereto held by the Trustees for the uses, purposes and trusts set forth in this Agreement and Declaration of Trust and any amendments, if any, which may be made to this Agreement and Declaration of Trust, hereinafter referred to as “Agreement.”

The term “Association” shall mean the New Jersey Association of Osteopathic Physicians and Surgeons.

The term “Trustees” shall mean those persons designated in accordance with the provisions of Article II section 1 of this Agreement as well as any successors, all of who shall be in charge of the overall administration of this Foundation.

The designation, Trustee Emeritus, shall be granted to a Trustee who has made outstanding contribution or has rendered outstanding service to osteopathic education.

“Corporate Trustee” shall mean the bank, trust company or other financial institution or individual as may be designated by the Trustees to hold the property of the Foundation and to manage the Foundation in accordance with the terms of the contract that might be entered into by and between the Trustees of the Foundation and said Corporate Trustee.

“House of Delegates” means the House of Delegates of the New Jersey Association of Osteopathic Physicians and Surgeons.

“Effective Date” means the date upon which the Agreement has been executed by the Association and the Trustees.

“Contributions” means the money paid to this Foundation.

“Administrator” means the person who shall be appointed by the Board of Trustees to act as the Administrator of the Foundation.

“Ex-Officio” members shall have voice but no vote and shall include the Dean of the New Jersey School of Osteopathic Medicine (or its successor school, the Rowan University School of Osteopathic Medicine), the NJAOPS Executive Director and the NJAOPS Treasurer.

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