LAURELMEAD EMPLOYEE EDUCATION FUND

LAURELMEAD EMPLOYEE EDUCATION FUND THE ACTIVITIES INCLUDE RAISING FUNDS BY SOLICITING CONTRIBUTIONS FROM RESIDENTS AT LAURELMEAD COOPERATIVE, INC. (LAURELMEAD), AND IN THE VICINITY OF LAURELMEAD. APPLICATIONS FOR SCHOLARSHIPS OR GRANTS ARE INVITED FROM EMPLOYEES OF LAURELMEAD AND THEIR CHILDREN. A SELECTION COMMITTEE CONSISTING OF AT LEAST THREE PERSONS APPOINTED BY THE LEEF DIRECTORS THEN EVALUATE THE APPLICATIONS AND MAKES THE SCHOLARSHIPS GRANTS TO THE APPLICANTS IT FINDS BEST QUALIFIED FROM FUNDS MADE AVAILABLE FOR THAT PURPOSE. MEMBERS OF THE SELECTION COMMITTEE MUST BE INDEPENDENT OF LAURELMEAD AND LEEF, HAVE KNOWLEDGE AND/OR EXPERIENCE IN THE EDUCATION FIELD, AND BE GUIDED ONLY BY OBJECTIVE CRITERIA. GRANTS MAY NOT BE MADE TO BENEFIT LAURELMEAD, SUCH AS FOR RECRUITMENT OF NEW EMPLOYEES, RETENTION OF EXISTING EMPLOYEES OR TO COMPENSATE OR REWARD EMPLOYEES. ACTIVITIES ARE CONDUCTED AT LAURELMEAD AND ITS VICINITY AND THERE MAY BE PERIODIC FUND DRIVES AND APPLICATION PERIODS DESIGNATED IN EACH CALENDAR YEAR.