Minutes of Board of Trustees Meetin g held October 17 and 18. 1996 1

Minutes of the Board of Trustees I Rhodes College October 17 and 18, 1996

10-96-1 • The regular meeting of the Board of Trustees of Rhodes College was held in the Edmund Orgill Room, S. DeWitt Clough Hall, on the campus at 1:00 p.m., Thursday, October 17, 1996 pursuant to written notice.

• The dedication of Blount Hall, named in honor of Carolyn and Red Blount, was held preceding the meeting.

• The meeting was called to order by the Chair, Mr. Frank M. Mitchener, Jr.

• The Trustees were asked to pause for a moment of silent prayer in memory of Honorary Trustee Ed Jappe; Howard Harwood (Woody) Phillips, son of Weetie and Harry Phillips; and James A Thomas, Jr., father of James A. Thomas III.

• Best wishes were extended to William Craddock on his recent marriage to Pat.

• The meeting was opened with prayer by Student Trustee Robert P. Marus.

10-96-2 • The roll was called by Secretary, Mr. Kenneth F. Clark, Jr. Those present were:

Trustees Life Trustees Student Trustees Edgar H. Bailey '97 Winton M. Blount Michael J. Faber James H. Barton '98 L. Palmer Brown Robert P. Marus Jack R. Blair '98 Paul Tudor Jones Frank L. O'Connor John M. Boswell III '97 Robert D. McCallum J. Bayard Boyle, Jr. '99 S. Herbert Rhea Present By Invitation Robert H. Buckman '97 P.K. Seidman William D. Berg Kenneth F. Clark, Jr. '99 J. Allen Boone John H. Crabtree, Jr. '99 Honorary Trustees Arthur L. Criscillis J. Lester Cram '98 Mertie W. Buckman Sherry J. Fields J. Robert Dobbins '97 Bland W. Cannon Brian E. Foshee Bryan M. Eagle '98 William S. Craddock David L. Harlow John D. Gladney '99 Frances Tomlin Tigrett Marci A. Hendrix Ted M. Henry '98 Russel L. Wiener Mel K. Hokanson Billy M. Hightower '98 Sara S. Jones Nancy J. Huggins '97 Ex Officio Member Charles N. Landreth J. L. Jerden '98 James H. Daughdrill, Jr. Marshall E. McMahon W. Ralph Jones III '97 N.P. McWhirter W. Néely Mallory '97 Faculty Trustees Helen W. Norman JohnB. Maxwell, Jr. '99 Steve Gadbois '98 John M. Planchon David R. McWilliams '99 Michael C. Nelson '97 Loyd C. Templeton, Jr. Frank M. Mitchener, Jr. '97 Gail P.C. Streete 99 Debra M. Warren James H. Prentiss III '99 Arthur M. Weeden, Jr. K.C. Ptomey, Jr. '97 Guests David J. Wottle Wayne Steele Sharp '99 Douglas M. Lawson '97 Elizabeth L. Simpson John McGauley '97 James A. Thomas III John M. Wallace III '99 David D. Watts '98 The following were absent:

Trustees Neville F. Bryan '99 Life Trustees Honorary Trustees Bruce E. Campbell, Jr. '98 Charles P. Cobb Robert W. Amis Tommie S. Dunavant '98 William C. Rasberry Thomas Fearn Frist, Sr. Donald H. Farris '99 Frank M. Norfleet John C. Hugon '98 Harold F. Ohlendorf Barbara Rosser Hyde '97 Lorna Anderson Reimers James R. Lientz, Jr. '98 John B. Ricker, Jr.

' William J. Michaelcheck '98 Joseph Orgill III '98

Nettie Schilling Charles R. Sherman

Harry J. Phillips, Sr. '99 Alvin W. Wunderlich, Jr. Vicki Gilmore Roman '97 John C. Sites, Jr. '97 Spence L. Wilson '99

• Mr. Clark declared a quorum was present (see Exhibit A, page 9 for Board Committee list).

Minutes of Board of Trustees Meeting held October 17 and 18, 1996 2

10-96-3 • Mr. Mitchener introduced the following new and returning Trustees: • Mr. Kenneth F. Clark, Jr., Memphis, TN • Dr. John D. Gladney '74, Shreveport, LA • Mr. John B. Maxwell, Jr. '57, Memphis, TN • Mr. David McWilliams '78, Bloomfield Hills, MI • Ms. Wayne Steele Sharp '75, Rancho Palos Verdes, CA • Student Trustee, Mr. Michael J. Faber '98, Sante Fe, NM • Student Trustee, Mr. Frank L. O'Connor '98, Stone Mountain, GA • Faculty Trustee, Dr. Gail Streete, Memphis, TN

10-96-4 • The Board approved as mailed the minutes of the Board of Trustees meeting held on April 18 and 19, 1996 and the minutes of an Executive Committee Special Meeting held on June 18, 1996.

10-96-5 • Mr. Mitchener called on President Daughdrill for his report.

10-96-6 • President Daughdrill:

As you know, Mark McMahon has resigned as Dean of Academic Affairs to go back into the classroom. As a matter of fact, his leaving the classroom was the only reservation we had in asking him to serve as Dean. Last week I found this quote, "If you write your goals to avoid failure, you avoid success." It takes a great deal of courage to achieve success. Mark McMahon has shown a great deal of courage and realized real success as Dean, as teacher, as administrator, as friend. His integrity is flawless and he is highly respected. We will miss you, Mark, as Dean of Academic Affairs. You leave a worthy successor, but we will miss you. Godspeed to you and to your students.

The person who has served as Associate Dean of Academic Affairs is a gifted teacher and administrator, and John Planchon will serve as Acting Dean of Academic Affairs. John joined the Rhodes faculty in 1985 as Associate Professor of Economics and Business Administration. He was appointed Chair of the Department in 1989 and served with distinction. In 1994, he was appointed Associate Dean of Academic Affairs, a demanding position that he has filled with ability, caring and insight. Dr. Planchon holds a B.A. degree in political science, a M.A. in journalism, a Ph.D. in marketing and is a graduate of the Defense Department's Language Institute. His research has been published in many professional journals including Business Research and the Journal of Marketing Research. We are delighted that John Planchon is serving as Acting Dean of Academic Affairs.

The long-awaited book on the Search course entitled, Celebrating the Humanities, is here, We want you to have a copy as a gift and token of appreciation from the College. Dr. Michael Nelson is the editor; he wrote much of it and edited all of it. He has a beautiful writing style. This book and the Search course will be one of the major topics of our Sesquicentennial. We hope to have a national symposium on the teaching of the traditions of Western Civilization. Mike, we are proud of your coming here and immediately sensing the important roots of the Search Course. And we are very proud of your initiative, and of you.

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Minutes of Board of Trustees MeetinE held October 17 and 18, 1996 3

10-96-7 • President Daughdrill:

Report to the Rhodes Board of Trustees Regarding the September 25, 1996 Communication from the Faculty

on the Tenure Process

You received from me a few days ago a communication from the faculty dated September 25, 1996, addressed to me and to the Board of Trustees.

The communication expressed concern that during the summer, I made an exception to the Tenure Process described in "The Policies and Procedures In Regard to Faculty." There were compelling circumstances. We were about to lose one of our truly outstanding professors to another institution. After reviewing the evaluation data and information, I asked the Chair of the Board to convene a telephone conference call of the Executive Committee of the Board to consider my recommendation to grant tenure.

You will find a copy of the Tenure Process policy and the "exceptions" policy at your place.

On September 25, 1996 the faculty expressed concern about this action. The communication does not ask us to change the policies, it simply urges us not to make an exception to the tenure process policy. The communication did not ask for a reply, but I think the courtesy of a reply is in order, and I plan to report to the faculty what I now report to you.

First, I agree with the faculty that our tenure process at Rhodes is very important. The process was negotiated by the faculty and the administration and was approved by the faculty and by the board. It is a thorough process and serves us well.

I also agree with the faculty that arbitrariness, capriciousness, whimsy or any similar practice must never be part of our system. The decision to grant tenure is a serious matter, and many things must be carefully considered.

However, I disagree with the faculty that never, under any circumstances, should there be an exception to the tenure process. I have certainly not treated our process cavalierly. In the 23 years I have been President, this is the only exception that I have made, and only because of compelling reasons.

I believe that 1.) the Tenure Process as stated in "The Policies and Procedures in Regard to Faculty" and 2.) our policy giving authority to the President to make exceptions and to be held accountable to the Board for making exceptions are good policies and that together they serve us well.

Therefore, I do not recommend any revision of our policies to you.

Now, let me pause to see if there are any questions, especially from the faculty trustees or the student trustees.

Since there are none, I will inform the faculty of what I just reported to you.

Mr. Chairman, that completes my report.

10-96-8 • Mr. Mitchener asked Mr. J. Lester Cram, Dr. S. Herbert Rhea and Mr. Ted M. Henry to serve as acting chairs of the Board Directions and Leadership Committee, Finance Committee, and Students and Campus Life Committee respectively.

10-96-9 • The Trustees were reminded of the cocktail buffet that evening at the Rhodes President's Home, honoring Carolyn and Red Blount.

10-96-10 • The Board adjourned to committee meetings/at 2:00 p.m. I

F. Clark, Jr.,

Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 4

Friday. October 18. 1996

10-96-11 • The Board of Trustees resumed its meeting on Friday, October 18, 1996 at 8:30 a.m. in the Edmund Orgill Room on campus.

• The meeting was called to order by the Chair, Mr. Frank M. Mitchener, Jr.

• The meeting was opened with prayer by Mr. Ted Henry. • Mr. Mitchener introduced returning Trustee Neville F. Bryan '58 from Lake Bluff, IL.

10-96-12 • The roll was called by Secretary, Mr. Kenneth F. Clark, Jr. Those present were:

Trustees Life Trustees Student Trustees Edgar H. Bailey '97 Winton M. Blount Michael J. Faber James H. Barton '98 L. Palmer Brown Robert P. Marus Jack R. Blair '98 Paul Tudor Jones Frank L. O'Connor John M. Boswell III '97 Robert D. McCallum J. Bayard Boyle, Jr. '96 S. Herbert Rhea Present By Invitation Neville F. Bryan '99 P.K. Seidman William D. Berg Robert H. Buckman '97 J. Allen Boone Kenneth F. Clark, Jr. '99 Honorary Trustees Arthur L. Criscillis John H. Crabtree, Jr. '96 Mertie W. Buckman Sherry J. Fields J. Lester Cram '98 Bland W. Cannon Brian E. Foshee J. Robert Dobbins '97 William S. Craddock David L. Harlow Bryan M. Eagle '98 Frank M. Norfleet Marci A. Hendrix John D. Gladney '99 Frances Tomlin Tigrett Mel K. Hokanson Ted M. Henry '98 Russel L. Wiener Sara S. Jones Billy M. Hightower '98 Charles N. Landreth Nancy J. Huggins '97 N.P. McWhirter I J. L. Jerden '98 Ex Officio Member Helen W. Norman James R. Lientz, Jr. '98 James H. Daughdrill, Jr. John M. Planchon W. Neely Mallory '97 Loyd C. Templeton, Jr. John B. Maxwell, Jr. '99 Faculty Trustees Debra M. Warren David R. McWilliams '99 Steve Gadbois '98 Arthur M. Weeden, Jr. Frank M. Mitchener, Jr. '97 Michael C. Nelson '97 David J. Wottle James H. Prentiss III '96 Gail P.C. Streete '99 K.C. Ptomey, Jr. '97 Vicki Gilmore Roman '97 Guests Wayne Steele Sharp '99 John McGauley '97 Elizabeth L. Simpson Michael McDonnell John M. Wallace III '96 David D. Watts '98 Spence L. Wilson '96 The following were absent: Trustees Life Trustees Honorary Trustees Bruce E. Campbell, Jr. '98 Charles P. Cobb Robert W. Amis Tommie S. Dunavant '98 William C. Rasberry Thomas Fearn Frist, Sr. Donald H. Farris '96 Harold F. Ohlendorf John C. Hugon '98 Lorna Anderson Reimers Barbara Rosser Hyde '97 John B. Ricker, Jr. W. Ralph Jones III '97 - Nettie Schilling William J. Michaelcheck '98 Charles R. Sherman Joseph Orgill III '98 Alvin W. Wunderlich, Jr. Harry J. Phillips, Sr. '96 John C. Sites, Jr. '97 James A. Thomas III '97

for Board Committee list). A, 9 • Mr. Clark declared a quorum was present (see Exhibit page

Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 5

• Mr. Mitchener thanked Libby and Jim Daughdrill for a delightful party the evening before.

10-96-13 • Report of the Committee on Investments Mr. Michael McDonnell, Chair. (Exhibit B, page 10).

Committee report received.

10-96-14 . Report of the Campaign Executive Committee Dr. Winton M. Blount, Chair. (Exhibit C, page 11).

Committee report received.

10-96-15 . Report of the Committee on Development Mr. Robert H. Buckman, Acting Chair. (Exhibit D, page 12).

Committee report received.

10-96-16 . Report of the Committee on Board Directions and Leadership Mr. J. Lester Cram, Jr. '51, Acting Chair. (Exhibit E, pages 13-14).

Committee report received.

10-96-17 • A motion was passed that Nancy Fulmer be asked to serve on the Board beginning in January, 1997.

10-96-18 • A motion was passed that the following be re-elected to serve on the Board beginning in October, 1997:

John M. Boswell Ill Robert H. Buckman J. Robert Dobbins Barbara Rosser Hyde W. Ralph Jones III W. Neely Mallory, Jr. Frank M. Mitchener, Jr. Elizabeth L. Simpson John C. Sites

10-96-19 • A motion was passed that trustee Edgar H. Bailey be elected to serve on the Board as a Life Trustee beginning in October, 1997.

10-96-20 • A motion was passed that the following be asked to serve on the Board beginning in October, 1997:

Dunbar Abston, Jr., Memphis, TN Michael McDonnell, Memphis, TN Phillip H. McNeill, Memphis, TN James A. O'Donnell, Atlanta, GA A. Bruce Parker, Charlotte, NC

10-96-21 • A motion was passed that the following be offered an honorary degree at Rhodes' Commencement, May 17, 1997:

Dr. Elizabeth Caidwell Dr. William R. Ferris Mr. Anfernee Hardaway Mr. Billy Payne

10-96-22 • A motion was passed to approve a memoriam resolution regarding Edward Jappe (see page 13).

Minutes of Board of Trustees Meeting held October 17 and 18, 1996 6

10-96-23 • A motion was passed to recommend to the full Board a change in the Rhodes By Laws (see page 14).

10-96-24 • Report on the Committee on Students and Campus Life Mr. Ted M. Henry, Acting Chair. (Exhibit F, pages 15-16).

Committee report received.

10-96-25 . Report on the Committee on Enrollment Mrs. Elizabeth L. Simpson '58, Chair. (Exhibit G, pages 17-18).

Committee report received.

10-96-26 . Report of the Committee on Faculty and Educational Program Mr. W. Neely Mallory, Jr., Chair. (Exhibit H, page 19).

Committee report received.

10-96-28 . Report on the Committee on Lifelong Learning Mr. Jack R. Blair, Chair. (Exhibit J, page 20).

Committee report received.

10-96-27 . Report of the Committee on Information Technology Mr. Robert H. Buckman, Acting Chair. (Exhibit I, page 21).

Committee report received.

10-96-29 . Report of the Committee on Finance Dr. S. Herbert Rhea, Acting Chair. (Exhibit K, page 22).

Committee report received.

10-96-30' Report of the Committee on Audit Mr. Edgar H. Bailey, Chair. (Exhibit L, page 23).

Committee report received.

10-96-3 1 • The Board approved the motion that the accounting firm of Ernst & Young be retained to perform the 1996-97 audit for the College.

10-96-32' Report of the Committee on Buildings and Grounds Mr. Edgar H. Bailey, Acting Chair. (Exhibit M, page 24).

Committee report received.

10-96-33 • Degrees conferred on May 11, 1996 and August 15, 1996. (Exhibit N, pages 25-30) H

Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 7

10-96-34 • Mr. Mitchener called on President Daughdrill for his closing remarks.

10-96-35 • President Daughdrill: • Students look for three major things when choosing a college. They look for educational

opportunity, they look for a resort, and they look for a personal support system that is virtually unlimited.

Students want an education that offers international opportunities. They want 24-hour computer and Internet availability. Students are looking for a college where there are health clubs or equivalents, and where there are infirmaries. They are looking for good food and in wide variety - salad lines, diet lines, deli lines, fast-food lines, hot lines, etc. They are looking for places that are carpeted and air conditioned and that have other spa-like qualities.

Students are also looking for a personal support system unknown outside the family in American history. At Rhodes we provide psychological counseling, spiritual counseling, multicultural counseling, physical disabilities counseling, vocational counseling, residence hall living counseling, etc. All of which are surrounded by co-curricular programs - seminars on stress management, how to deal with alcohol, and every kind of seminar on improving the quality of life that you have ever read about or heard about is either available here now or soon will be. These considerations really present a tremendous challenge to a college: financial challenges, educational challenges, moral challenges. There are important moral questions to be answered when we make decisions about how we spend money.

But, I believe the most important challenge we face at Rhodes is building the endowment, especially for financial aid. The College is very strong as we look ahead. We have an endowment of $152 million. We have no deferred maintenance. We have small long-term debt. We have $68 million in deferred gifts. that will come to the College in future years. I think we're positioned very strongly for the future. But we've got to find a niche for ourselves. We're caught between the media who yell about raising tuition and students and their families who want more. We are doing the best we can within our resources and the vision of this College, and I believe we're positioned strongly for the future. Building the endowment is now our biggest challenge.

• What is reported about Rhodes by US News and World Report is very important because the report is widely used by prospective students and their families. This year we are not in the top 40 colleges. Two years ago we were. The reason for this is two-fold. First, Rhodes is on the cusp between the first and second tier. Second, U.S. News has changed their criteria. But the difference between the first and second tier, which is a big difference in the mind of most people, are very small percentages. These percentages have to do with things like general education expense. We get no credit, for instance, for being in an area of the country where the cost of living is much less than if we were in Boston. Another area where we do not rate well has been in retention. Rhodes has a metropolitan location. We have a number of students who are not sure where they want to go and they may attend Rhodes for a year before transferring to another college. Another factor is that we have an honor system. When we expel students, it is picked up by US News and World Report and reported as "student discontent and dissatisfaction" with the institution. US News and World Report makes two annual reports. One report is on excellence which is largely based on how much a college spends per student. The other is a Best Buys report which is based not on how much you spend, but on how little you spend. -

The best news is that of all liberal arts colleges in the nation, only 10 rank higher than Rhodes in both categories - excellence and value!

• Finally, I want no opportunity to go by without thanking all of you for your commitment to Rhodes. We appreciate you, and we assure you that we are doing our best to practice good stewardship of your time, and what you do for the College.

Minutes of Board of Trustees Meetin g held October 17 and 18. 1996 8

10-96-36 • The meeting went into executive session immediately following break at approximately 11:30 a.m. Li

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Exhibit A - Minutes of Board of Trustees Meetin g held October 17 and 18. 1996 9

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BOARD OF TRUSTEES COMMITTEES FOR 1996-97 Board Committees Faculty Member Student Member Staff (Non-Voting) Board Directions & Leadership

__________________ Winton M. Blount L. Palmer Brown

Ben W. Bolch Loyd C. Templeton, Jr. Helen W. Norman John C. Sites, Jr., Chair •

Neville F. Bryan Charles P. Cobb J. Lester Cram, Jr. Robert D. McCallum Frank M. Mitchener, Jr. Joseph Orgill Ill

Buildings & Grounds Loma A. Reimers Steve Gadbois # Kristen Rauschkolb Brian E. Foshee Edgar H. Bailey, Chair • Nettie Schilling William D. Berg Billy M. Hightower Frances T. Tigrett J. L. Jerden Russel L. Wiener John B. Maxwell, Jr. K. C. Ptomey, Jr.

Development Mertie W. Buckman Michael C. Nelson # Robert P. Marus # Arthur L. Criscillis James A. Thomas Ill, Chair • William C. Rasberry Sara S. Jones John M. Boswell Ill P.K. Seidman Robert H. Buckman' Kenneth F. Clark, Jr. John M. Wallace Ill David D. Watts

Enrollment Robert W. Amis Gail C. Streete # Michael Faber # David J. Wottle Elizabeth L. Simpson, Chair • Charles R. Sherman Arthur M. Weeden, Jr. James H. Barton Tommie S. Dunavant Bryan M. Eagle Donald H. Farris James H. Prentiss

Faculty & Educational Program Bland W. Cannon William S. Craddock, Sr.

Tern Lindquester Yohaan Demel John M. Planchon W. Neely Mallory, Jr., Chair • Bruce E. Campbell, Jr. • Paul T. Jones John H. Crabtree, Jr. • Frank M. Nortleet Nancy J. Huggins Barbara R. Hyde David R. McWilliams Harry J. Phillips, Sr.

Finance S. Herbert Rhea Debbie Pittman Frank O'Connor # J. Allen Boone Spence L. Wilson, Chair • John B. Ricker, Jr. N. P. McWhirter Jack R. Blair J. Bayard Boyle, Jr.• John C. Hugon James R. Lientz, Jr. Vicki G. Roman WayneS. Sharp __________________ ____________________

Students & Campus Life

______________________

Harold F. Ohlendorf

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Carolyn Jaslow Anita Person Melody K. Hokanson William J. Michaelcheck, Chair • Alvin W. Wunderlich, Jr. Charles N. Landreth J. Robert Dobbins John D. Gladney Ted M. Henry W. Ralph Jones Ill

Investment L. Palmer Brown Brian Shaffer J. Allen Boone Michael McDonnell, Chair N. P. McWhirter J. Bayard Boyle, Jr. Bruce E. Campbell, Jr. Joseph Orgill Ill Harry J. Phillips, Sr.

L. Palmer Brown Pamela H. Church N. P. McWhirter Edgar H. Bailey, Chair • P. K. Seidman JohnB. Maxwell, Jr. _____________________

Lifelong Learning

_______________________ P. K. Seidman

_____________________ Frank 0. Mora

___________________John M. Planchon

Jack R. Blair, Chair• Bruce E. Campbell, Jr. W. Ralph Jones Ill James H. Prentiss

Information Technology John A. Williams, exofficio Carolyn Schriber Thomas Jackson John M. Planchon Donald H. Farris, Chair • Charles L. Lemond Robert H. Buckman BryanM. Eagle ______________________ ____________________ __________________ ____________________• Executive Committee Member • FranK M. Mitchener, Jr., ex otucio, all committees Nevisea uctooer 1, 19b # Elected by Faculty or Students • James H. Daughdrill, Jr., ex officio, all committees

• David L. Harlow, ex officio, all committees

Exhibit B - Minutes of Board of Trustees Meeting held October 17 and 18, 1996 10

Report of the Committee on Investments Mr. Michael McDonnell, Chair - October 18, 1996.

The investment fund was up 2.4 percent in the third quarter which is not particularly good. The S&P 500 was up 3.1 so we trailed that.

The Investment Committee met in August and reviewed the endowment fund and decided to shift $15 million out of Barrow, Hanley, Mewhinney, and Strauss and into fixed income products and into a mid-cap equity fund. This was encouraged by Barrow, Hanley and we wrestled hard with this decision but we are on record with the Board that we will keep it approximately 60/40 or two-thirds/one-third (i.e., equity/fixed income).

We had a very good 1995-96 year and look for the same in 1996-97. I think we're in a more conservative posture than we were.

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Exhibit C - Minutes of Board of Trustees Meeting held October 17 and 18, 1996 11

Report of the Campaign Executive Committee Dr. Winton M. Blount, Chair - October 18, 1996.

Rhodes 150th Anniversary Campaign continues to make significant progress. You have a summary report on blue paper which shows where the Campaign stands. We have received about $38 million toward our highest priority objectives; approximately $16.5 million in annual support and about $42 million in deferred gifts. Total commitments have reached $96 million toward our goal of $120 million.

To help in Rhodes Campaign efforts, the College has formed a new fundraising working group - The Margaret Hyde Council. The Council seeks to engage women in leadership support of Rhodes. Specifically, the Council will identify potential women benefactors, involve them in the life of the College, and challenge them to make substantial contributions to Rhodes.

Beth Simpson has agreed to chair this committee and on a yellow sheet is a list of the founding members. We appreciate Beth's work to date in recruiting these members and know this group will do outstanding work for Rhodes.

Two recent commitments to the Campaign bear special notice. One is from an alumnus in the Class of 1926 and one from an alumnus in the Class of 1979.

Before their deaths, Robert C. Flemister, Jr., Class of 1926, and his wife Sarah Mackenzie Flemister made Rhodes the beneficiary of their estate. With Bob's passing in late July, we now know the magnitude of their generosity. The Flemisters bequest to the College is over $3 million. This gift will be added to the scholarship bearing their names which they established in 1982.

The other commitment is from an alumnus in the Class of 1979, Joseph W. Blount. Yes, my son. Joe had earlier made an outright commitment of $150,000 for the Campus Life Center. He recently

' made a deferred gift of $1 million designated for the College's permanent endowment to help the campaign. As you might expect, I am very proud of what Joe has done for Rhodes.

When we started this Campaign over 5 years ago, we were looking at a pretty steep mountain. When I consider where we are now, I think we've come a long way!

Let's look at what our Campaign has accomplished so far: • A new Campus Life Center - which is second to none • Two new professorships - one distinguished • Over 30 new scholarship funds established and many others increased • An international internship program • Over $41 million in future gifts to ensure Rhodes continued strength • An annual fund that has far greater strength with more leadership gifts

Yet, I also think we have "miles to go and promises to keep" to borrow from Robert Frost. We still have important work to do. Our focus is on building the endowment - through outright and deferred gifts. Rhodes' ability to compete for the best students and faculty, and to grow even more in its reputation is directly tied to the bedrock of endowment strength.

I hope you feel a real sense of accomplishment - I know I do. At the same time, I hope what we have done together for Rhodes will cause us to work even harder to make this great school even greater.

Thank you, that concludes my report.

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Exhibit D - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 12

Report of the Committee on Development Mr. Robert H. Buckman, Acting Chair - October 18, 1996.

Rhodes is coming off of the most successful Annual Fund drive in the College's history. Last year's total of just over $2,250,000 was a record and alumni participation reached 50 percent. This year's drive is off to an even better start. Current gifts and pledges are just over $1,016,361, a 6.5% increase over last year at the same time. Under the leadership of Jim Thomas, the Diehi Society is off to a great start! Those giving to the Diehi Society this year have committed $95,000 more than they did last year. This great start is directly related to an important initiative. Jim and a few other trustees put together a $70,000 challenge fund to build Diehi membership. The fund will provide $5,000 for each new or increased membership in the Diehi Society. So far two new members have joined the Diehi Society and two have moved from the $5,000 to $10,000 level. So $20,000 of the challenge has been claimed so far. There is a salmon colored sheet which tells about the challenge. Discussion about the Diehi Society occupied much of our time yesterday. In addition to Jim's initiative - two key areas were discussed. First, we discussed and have now established a new giving level to the Diehi Society - a $50,000 level. And we have three charter members already! P. K. Seidman, Jim Thomas and I have agreed to give at this new, larger level. The second area of discussion was a new program to endow Diehl and Red and Black Society gifts. This concept, which would ensure continuing annual fund support, is exciting and generated significant, enthusiastic discussion. The development committee will consider a formal proposal at its next meeting and anticipates making a recommendation to the Board at that time. Roberta (Sue) Matthews of Memphis has accepted the position of Director of Planned Giving and will join the development staff on October 28. Sue received her undergraduate degree from Duke University, her master's from the University of Texas, and a law degree from the University of Memphis.

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Exhibit E - Minutes of Board of Trustees Meeting held October 17 and 18, 1996 13

Report of the Committee on .Board Directions and Leadership Mr. J. Lester Cram, Jr. '51, Acting Chair - October 18, 1996.

The meeting was called to order in the Orgill Room at 2:15 p.m.

Members present for the committee meeting were: J. Lester Cram, Jr., Acting Chair, Neville F. Bryan, Winton M. Blount, L. Palmer Brown, Robert D. McCallum, Frank M. Mitchener, Jr., James H. Daughdrill, Jr., Loyd C. Templeton, Jr. , Helen W. Norman, and Sherry J. Fields. Those absent: Charles P. Cobb, Joseph Orgill III, and John C. Sites, Jr., and Ben W. Bolch.

John McGauley, President of Gehrung Associates spoke on "Building National Recognition of Rhodes."

A motion was passed to elect Nancy H. Fulmer to fill the vacancy left in the Class of 1999. She will begin her term with our January, 1997 Board Meeting.

A motion was passed that the following Trustees be re-elected to the Class of 2000: Robert H. Buckman, J. Robert Dobbins, Barbara R. Hyde, W. Ralph Jones III, W. Neely Mallory, Jr., Frank M. Mitchener, Jr., Elizabeth L. Simpson, and John C. Sites.

The next order of business was the consideration of prospective Trustees. Edgar H. Bailey, Nancy J. Huggins, K. C. Ptomey, Jr., Vicki G. Roman, and James A. Thomas III will have completed three, three-year terms in April of 1997.

A motion was passed that the following be asked to serve on the Board beginning in October, 1997: Dunbar Abston, Michael McDonnell, Phillip H. McNeill, James A. O'Donnell '74, and Bruce Parker '70.

A motion was passed to elect Edgar H. Bailey a Life Trustee beginning with the October, 1997 Meeting.

A motion was passed that the following candidates be offered an honorary degree at Commencement, May 17, 1997. Dr. William R. Ferris, Director of the Center for the Study of Southern Culture and Professor of Anthropology at the University of Mississippi, Mr. Anfernee Hardaway, Professional basketball player, Memphian, Dr. Elizabeth Caldwell '69, Harold Blake Walker Professor of Pastoral Theology, McCormick Seminary, Chicago, IL, and Mr. Billy Payne, Director of the 1996 Atlanta Olympics.

The Board approved the following resolution regarding the death of Honorary Trustee Edward Jappe:

The Board of Trustees of Rhodes College records with deep sorrow the death of Edward Jappe.

Born in Antwerp, Belgium and educated in Europe, Ed Jappe served the College as an Honorary Trustee from 1985 until his death. He and his wife, Bunny, have three daughters—all Rhodes graduates.

Though we claim him as our own, his leadership extended far beyond -the College. His role in the life of our community is recognized

throughout Memphis. Our lives are richer because of this great man and beloved friend.

This resolution will be sent to his family as an expression of the Board's heartfelt sympathy, and of the Board's gratitude for his many years of outstanding service to the College.

Exhibit E - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 14

A motion was passed to make the following change in the By-laws Article III, Section 8: When the By-laws of the College were revised to establish Honorary Trustees, the motion that went to the Board did not include the term of service, which is the same as that of voting Trustees. To correct the error, it was requested that the By-laws, Article III, Section 8, be amended by adding:

Honorary Trustees shall be elected at any regular or special meeting by a majority vote of the Board from among those persons nominated by the Committee on Board Directions and Leadership, and shall assume office beginning with the fall meeting of the Board, and serve for a term of three (3) years or until their successors are elected and qualified. They may not be elected for more than three (3) consecutive three-year terms. At least twelve (12) months must have elapsed before any Honorary Trustee having served three consecutive three-year terms may be elected for another such term. Despite the expiration of an Honorary Trustee's term, he or she shall continue to serve until his or her successor is elected. An Honorary Trustee may resign at any time by delivering written notice to the Board of Trustees, to its Chair or to the President, or to the corporation. A resignation shall be effective when the notice is delivered unless the notice specifies a later effective date.

The change will not be made retroactive. Therefore, to implement the process, the present Honorary Trustees be divided into the same three classes as voting trustees (1997, 1998, and 1999), and all present Honorary Trustees will be listed as beginning their flt term. The meeting adjourned at 4:15 p.m.

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Exhibit F - Minutes of Board of Trustees Meeting held October 17 and 18, 1996 15

Report of the Committee on Students and Campus Life Mr. Ted M. Henry, Acting Chair - October 18, 1996.

The Committee on Students and Campus Life was called to order by trustee Ted Henry in the absence of Chairman William Michaelcheck at 2:15 p.m. in the Athletics Conference Room of the Bryan Campus Life Center. Members in attendance were: Bob Dobbins, John Gladney, Ralph Jones, Carolyn Jaslow, and Anita Person; Ex-Officio members present were Melody Hokanson and Charles Landreth. Present by invitation were staff members Cindy Pennington, Sandi Tracy, Pat Donahue, Kari Duncan, Sarah Hatgas, Billy Newton and Claire Coleman, and students Ceatriss Smith, Mitchell Klink, Damon Norcross, Anu Agrawal, Mary Allison Beasley and Kristen Fox. The following members were absent: William Michaelcheck, Harold Ohlendorf and Alvin Wunderlich.

Cindy Pennington, Director of Student Activities, introduced Ceatriss Smith '98, Vice President of the Panhellenic Council, and Mitchell mink '98, Vice President of the Interfraternity Council. Ceatriss shared some of the innovations of Fall '96 Rush such as Rush being shortened from two weeks to one week, a selection process introduced for the Rho Chi's insuring that only the best possible women would educate first-year women about Rush, utilization of Rush software, and increased time being spent with new sorority sisters on Bid Day. Mitchell discussed the new focus on an alcohol-free Men's rush, the advantages of a shortened Rush, the repealing of the fraternity quota system, and the removal of fees charged by IFC for men going out for Rush. Other topics presented by Ceatriss and Mitchell included anti-hazing policies, IFC establishment of a judicial system with help from SRC/HC, involvement in community programs such as Midnight Madness, using the Greek experience to help fulfill career goals, aids awareness, and leadership development opportunities.

Sandi Tracy, Director of Career Services, furnished an update on the 1995 Placement Report. Of the 48 students formerly listed as "temporary employment", 54% have now been placed. Sandi stated that the timing of future surveys of graduates will be changed to allow one full year to elapse before collecting data. In addition, Career Services is currently implementing more aggressive programs to reach first and second year students earlier on career planning. Pat Donahue, Assistant Director of Career Services, expanded on the types of programs now in place to produce higher percentages of permanent employment among graduates. One of these programs is Career Tracks, presented in a day-long conference format to occur on January 13, 1997 prior to the start of second semester classes. Career Tracks is designed to provide interaction between students and business professionals in the Memphis community. Sophomore Career Success is a second and equally important program now in place to ensure that students begin the career decision making earlier in their college experience.

Kari Duncan, Coordinator of Recreational Services, outlined the diverse recreational opportunities that are currently available in the new Bryan Campus Life Center. Intramural Sports provides an opportunity for competition between students, staff, and faculty either in a team sport or individual/sport venue with currently over 1,200 individual participants a year involved. The "Natural High" program and Club Sports provide healthy alternative activities during the "high risk" hours of Thursday, Friday and Saturday evenings. Sarah Hatgas, Head Tennis Coach and Assistant Athletic Director, described the development of individual sports programs and activity classes including martial arts, stage movement, Middle Eastern dance, and aerobics. Plans are also in the offing to provide courses that emphasize weilness, such as stress management through fitness. Sarah also discussed some of the fitness assessment programs that will soon be available through new computer technology.

Chaplain and Director of Volunteer Service, Billy Newton, was joined by Anu Agrawal '97, Mary Allison Beasley '99, and Kristen Fox '98, in presenting an overview of Students and Spirituality on the Rhodes Campus. Chaplain Newton discussed as a part of Rhodes' mission, the dedication to spiritual growth of students, a special witness to the Christian faith, and a community that nurtures lives of faith and service. He went on to discuss five ways the college meets this mission (1) through spiritual reflection as a result of academic study; (2) through pastoral care and church connections; (3) through interfaith dialogue; (4) through service in the community; and (5) through student religious organizations. Anu Agruwal, Mary Allison Beasley and Kristen Fox, who represent a wide diversity in religious backgrounds, joined in expressing the fulfillment for them of that mission through programs such as the Kinney Volunteer Service Program, interfaith circle and student religious groups including Rhodes Christian Fellowship and Westminster Fellowship.

Exhibit F - Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 16

Damon Norcross '98, Vice President of the Rhodes Student Government, presented some of the topics that are currently being addressed by the RSG. The RSG is reviewing with the Publications Board, the Pub Board's constitution, the feasibility of financial compensation for student staff members, and the future format for the Lynx Yearbook. The RSG is also pledging itself to a good working relationship with ARAMARK and Food Service Director Tim Vandermeersch, while continuing to work within the Student Body to maintain a feasible balance in addressing requests for change. Other items of interest presented by Damon included RSG Community Discount Cards which would allow students, faculty, and staff of Rhodes to obtain discounts at various local businesses; a technology survey to furnish an appraisal of all the technology now in place for students of Rhodes; A Spring Campus Life Convocation to recognize outstanding members of the Rhodes community for cocurricular efforts; and the new RSG copier now available to all students after Library hours.

Mel Hokanson, Dean of Student Affairs, gave a departmental update. Mel announced new staff members, Lori McConnell,Women's Basketball Coach; Darren Ambrose, Assistant Soccer Coach and Head Softball Coach; and Claire Coleman, Administrative Assistant in the Dean's office. Mel reported the Fall '96 Orientation Program had been an extremely dynamic one, culminating in an impressive Honor /SRC pledge-signing ceremony. In the Athletic Department, Taylor Tarver and Nao Kinoshita won the doubles in the Rolex regionals and will play in the national competition here in Memphis. Men's Soccer stands at 9-3; Women's Soccer 9-3 (Freshman Goalie Marci Hendrickson was named SCAC player of the week this week. She has had 8 shutouts this year). We are looking for invitations to the NCAA tournament. Volley ball record is 14-14. Cross Country is having another good season; the women won the Rhodes invitational last weekend, and the men finished third. Outside of Athletics, Kristen Fox was one of four students in Tennessee to receive an Outstanding Service Award given by the Tennessee Commission on Higher Education. Questions from trustees led to a discussion about on-campus housing at Rhodes.

There being no further business, the meeting was adjourned at 4:00 p.m. I

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Exhibit G - Minutes of Board of Trustees Meetin g held October 17 and 18. 1996 17

Report of the Committee on Enrollment Mrs. Elizabeth L. Simpson '58, Chair - October 18, 1996.

The Committee on Enrollment was called to order at 2:00 p.m. by Chairperson Elizabeth Simpson with the following members in attendance: Mr. James Barton, Mr. Bryan Eagle, Mr. Michael Faber, Mr. Jim Prentiss, Dr. Gail Streete, Mr. Art Weeden, and Dean Dave Wottle.

ADMISSIONS REPORT

Prior to the formal admission report, the Committee viewed the college's new CD-ROM presentation available at 3,700 high school in the US and in 27 foreign countries as well as throughout the British Commonwealth. The presentation is distributed through CollegeView and contains 40 screens that also contain audio and video clips of students, faculty and staff talking about their experience at Rhodes. Prospective students are also able to inquire and apply for admission via the CollegeView network. Dean Wottle also indicated that the admissions video is nearing completion and should be ready for distribution to prospective students and high schools in early December. Members of the Enrollment Committee will be sent a copy of the CD-ROM presentation once they are available.

Dean Wottle began his report by stating that the 1995-96 recruitment year was a difficult one. For the first time in 11 years the admission office was unable to meet its enrollment goal. 'While we enrolled the same number of entering students as a year ago (407), we fell eight short of our 415 student goal. Following last year's very successful campaign, the admission office saw both inquiries and applications to the College decline by 5%. The combination of having fewer applications and the desire to enroll a larger class than last year contributed to our acceptance rate increasing from 70% to 74%.

But the admission year was not without its positive points. The academic quality of the entering class was one of the strongest in the College's history. Sixty percent of the first-year students ranked in the top 10% of their graduating class, compared with 56% last year, with the average rank being the top 16% of the graduating class. The average grade point average was 3.62 compared to 3.56 a year ago. And the SAT and ACT scores ranges remained basically the same as last year's record averages. The middle 50% range on the SAT was 1190 to 1360 and on the ACT from 26 to 30. The average SAT score was 1279 and the average ACT score was 28.

Students in the entering class came from 32 states plus the District of Columbia and three foreign countries. We had a disappointing year in terms of minority and international student recruitment. Less than six percent of the first-year students, or 21, were minorities, with 8 Asian Americans, 4 African American students, 3 Hispanics, 2 American Indians and four other minorities. And only three international students enrolled in the entering class.

The Committee discussed several issues concerning diversity and retention on campus as well as the recruitment of minority students, i.e. Deborah Jones-Jobes outreach to predominately black high schools in Memphis, financial aid for minority students, the problems associated with having a lack of a critical mass of minority students on campus.

FINANCIAL AID REPORT.

Art Weeden provided the Committee with the final budget report on the 1995-96 financial aid expenditures. The final expenditures for scholarships and grants was $7,747,920. This expenditure was $146,213 under the amount budgeted for the year. The $143,213 was utilized to repay the remaining balance due to the endowment from the Financial Aid office. You may recall that in 1991 the Board approved the use of $300,000 from the endowment to cover the need for Perkins Student Loans. All of the money has now been restored to the endowment. The budget status report for the 1996-97 year indicates that financial aid expenditures are within the currently approved level of spending and are projected to remain so through the end of the fiscal year.

Mr. Weeden shared with the Committee that the average grants for entering students without scholarship have decreased from 1992 to 1995 while this year's average increased only because the federal government reduced SEOG funds after financial aid packages were sent, which forced Rhodes to replace these funds with its own. During the past five years, the average grants for entering students with scholarship have decreased from $6,659 to $3,316, the average scholarship amounts

Exhibit G - Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 18

have increased from $6,661 to $7,356 and the average gift aid from Rhodes has decreased from $8,373 to $8,197. Total gift aid has decreased from $8,295 to $7,949 during this time. Mr. Weeden indicated that the average debt load of Rhodes students graduating in May 1996 was approximately $14,000. That average is about $3,500 more than the previous year's average but is still below the national average for private colleges.

Dean Wottle noted that in the past four years we have been able to lower the percentage of tuition dollars going to financial aid from 41.58% in 1992-93 to 34.96% this year. Or stated another way, based on our $22,000,000+ tuition revenue, the six and one half percent savings amounts to almost $1,500,000 this year!

The Financial Aid Work Group (FAWG) has had two meetings this fall to review the College's financial aid awarding policies. Since no major changes have been made to our awarding system since 1992, we anticipate the FAWG group will recommend that modifications be made to our current awarding system to make our financial aid packages more competitive.

There being no further business, the meeting was adjourned at 3:20 p.m.

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Exhibit H - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 19

Report of the Committee on Faculty and Educational Program Mr. W. Neely Mallory, Jr., Chair - October 18, 1996.

Members Present: Board: Mr. Mallory, Chair Mr. Craddock, Mr. Crabtree, Dr. Jones, Dr. Cannon,

Mr. McWilliams, and Ms. Nancy Huggins Faculty: Professor Tern Lindquester, Dr. Will Coleman Student: Mr. Yohaan Demel Staff: Dean Planchon, Ms. Richardson, Ms. Handwerker

Mr. Mallory called the meeting to order and introduced Dr. John Planchon, Acting Dean of Academic Affairs. Dean Planchon directed the committee's attention to information on new faculty appointments for 1996-97 noting that three appointees, Anita Davis, Russell Wigginton, and Will Coleman, are African American graduates of Rhodes. The committee asked for information about long term renewable contracts. Dean Planchon explained several components of those contracts: • long term renewable refers to the fact that Rhodes anticipates renewing these annual contracts

for a long term rather than the contract, itself, being renewed for multiple years at a time; • faculty members on long term renewable contracts undergo the same stringent 3rd-year reviews

and 6-year reviews as those faculty members who hold tenure track contracts; and • there are financial incentives for faculty members who hold long term renewable contracts. Dean Planchon briefly discussed the Faculty Profile for 1996-97 noting that the student/faculty ratio for 1996-97 is 11.86/1. Dean Planchon mentioned two reasons for the lower than 12/1 student/faculty ratio: 1) the number of FTE students is not as high as in 1995-96 and 2) because there is such demand for some 1st year courses and to keep students from being shut out of those

' courses once the enrollment limits are reached, part-time instructors may be hired to teach extra sections of those courses. The subject of computers and technology and their effect on faculty was raised, and it was noted that Rhodes has appointed a Board Committee on Information and Technology to explore this issue. Dean Planchon told the committee that recruiting for 1997-98 is currently being conducted to fill positions in International Studies, Spanish, Chemistry, Philosophy, and two in English. All are long term renewable positions except for a creative writing position in English which is tenure track. He also noted that several other sabbatical or replacement searches will be conducted as well. Dean Planchon introduced Katherine Richardson who brought the committee up-to-date on study abroad at Rhodes. Ms. Richardson distributed the new International Programs at Rhodes handbook and identified several new study programs not included in the handbook which had not been finalized at the time of printing:

• Egypt Travel Study - Coordinated by Professor Dee Birnbaum, this program will be team taught by professors in International Studies, Anthropology/Sociology, Religious Studies, and Business/Economics and will consist of a semester long classroom study of Egyptian society and culture. Following the successful completion of the course, an optional two week field trip to Egypt is available. This program will run every other year.

• Russia - Professor Valerie Nollan is hoping to establish an exchange with Novgrod State in the next year or so, as well as planning to take students to Russia this summer for an intensive language study.

• Contemporary European Program in Belgium at Universita ire Faculteiten Sint-Ignatius te Antwerpen (UFSIA). Similar in design to European Studies, it differs in that this program is structured more for social science majors than fine arts and humanities majors and will combine philosophy, political and economic/business thought as it converges upon the European Union. This program, when finalized, will take place in the spring semester.

' Mr. Mallory introduced Dr. Will Coleman, a 1981 Rhodes graduate who is currently on sabbatical from Columbia Theological Seminary in Decatur, Georgia. Dr. Coleman, also an ordained Presbyterian minister, is spending his sabbatical at Rhodes as Scholar-in-Residence in the Department of Religious Studies continuing his research and teaching one course, Theology and Slave Narratives. Dr. Coleman presented the committee with an overview of his research,"Reading Ancestral Stories: Black Theology, Hermeneutics and African American Slave Narratives." There being no further business, the meeting was adjourned.

Exhibit I - Minutes of Board of Trustees Meeting held October 17 and 18, 1996 20

Report of the Committee on Lifelong Learning Mr. Jack R. Blair, Chair - October 18, 1996.

Those present: Committee members: Mr. Jack Blair, chair; Mr. P.K. Seidman, trustee; Mr. Jim Prentiss, trustee; Dr. Frank Mora, faculty member; Dr. John Planchon, Director of Meeman Center, and Chancellor David Harlow. Guests of the Committee: Dr. Debbie Pittmari, Administrator of Business Programs; Ms. Stephanie Turnbull, Administrator of Educational Programs and Marketing Services and Shirley Stone, Meeman Center Administrative Assistant.

Dean Planchon began the meeting by introducing Dr. Debbie Pittman, Director of Business Programs for the Meeman Center. Dr. Pittman briefed the committee on the revitalized Institute for Executive Leadership which is a 9 session course running throughout the 1996-1997 school year. The Institute features a course study which compares classic works of literature with contemporary case studies of modern corporations and their leaders. (For example: Jesus and the Gospels as compared to Ben & Jerry's caring capitalism.) Dr. Pittman explained the importance of this type of comparison linking liberal arts study with contemporary business cases for the purpose of leadership instruction. It was noted that the 13 participants hold higher positions in their respective companies than past Institute participants. Dr. Pittman hopes to have two sessions next year, one in the morning and one in the evening in order to meet the schedules of executives whose schedules prevented their participating this year.

Dean Planchon presented a report for the Meeman Center's 1995-1996 fiscal year. He noted that several Meeman Center programs, including the Cotton Institute, were not completed until after the end of the fiscal year. The Center finished the year, covering all costs and contributing to the reserve fund. Some highlights of the year included: the newly designed Institute for Executive Leadership, described by Dr. Pittman; ten Lifelong Learning courses with a total enrollment over 200 and involving 25 Rhodes professors; contracted residential conferences and non-residential conferences which brought 27 clients with over 7,000 participants to the Rhodes campus; and the American Cotton Shippers Association International Cotton Institute at Rhodes.

Ms. Turnbull reported on the 1996 International Cotton Institute which concluded in July. A special thanks was given to Frank Mitchener and the faculty of Rhodes who instructed various sessions of the Institute for their support and leadership in the continued success of the program. Sixty three students attended the Institute, including 47 international students representing 21 countries and 16 U.S. students from seven states. The English for Specific Purposes Institute held prior to the Cotton Institute was very successful with 14 students enrolled, and plans are being made to expand that program in 1997. It was noted that the Cotton Institute's reputation as an excellent school is spreading and participation from both the private and public sectors is increasing.

It was noted that Rhodes is currently in the third year of a three-year contract with the American Cotton Shippers to have the Institute at Rhodes. Both Chancellor Harlow and Dean Planchon stated that negotiations were under way to extend that contract and that the outlook was good for an extended contract.

Dean Planchon reported on the progress of a possible Conference Center adjacent to King Hall. This Center would be used to house 50-70 individuals for conferences, visiting parents and students, guest lecturers, etc. This type of facility would be especially beneficial to the Cotton Institute. Currently, work is in progress to determine the feasibility, both financial and physical, of a Conference Center.

There being no further business, the meeting was adjourned.

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Exhibit J - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 21

Report of the Committee on Information Technology ' Mr. Robert H. Buckman, Acting Chair - October 18, 1996.

Members Present: Board: Mr. Farris, Chair, Mr. Buckman Staff: Dean McMahon, Associate Dean John Planchon, Chancellor David Harlow

The meeting was called to order at 4:00 PM by Mr. Farris.

Chancellor Harlow brought the committee up to date on a number of projects under way and tried to give the members a better feeling for what is happening in information technology currently. Among other things, he told the committee that we already have both Unix and DOS systems, as well as Macintosh systems, currently in use in those areas (e.g., physics, computer science and business administration) where there is a need for such systems. Rhodes will continue to expand the availability of such alternatives on a limited basis as we add more computer center staff to support a variety of systems.

The trustee members of the committee continued to express concern that the College is not moving fast enough in offering significant support for other operating platforms (i.e., other that Macintosh). The trustees suggested that the staff should be added for the 1996-97 academic year even though this is not included in the FY'97 budget and that this is the bare minimum needed.

The discussion was once again very wide-ranging in scope, from the support of multiple platforms to the completion of wiring of the residence halls to distance learning through information technology. While Rhodes is making strides in every area except distance learning (the advisability of which is open to question for a college like Rhodes), it is possible that we are not doing an adequate job of telling people about our successes. A new college publication is in the works that may remedy (at least to some extent) this situation. In addition, the Teaching, Learning and Technology Workgroup

' that the Chancellor has created is working on a long-term plan for the College.

One member of the committee suggested that the way to get quicker action in the area of information technology is to put jJ expenditures on information technology--not just additional expenditures and not just computer equipment and software--in one budget for better planning and coordination. While there was agreement that this idea should be examined, there was not general agreement that it is the "solution." In general, however, the members of the committee did agree that expenditures on technology should not be so heavily dependent on R&R funds; rather, some level of expenditure for information technology should become a part of the regular budget process so that it is not so heavily dependent on the size of the "surplus" in any given year. There was also some sentiment for trying to replace computers on a two-year rather than the current four-year cycle. The committee may have a role in recommending budgeting more money for technology.

The committee adjourned at 6:00 PM.

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Exhibit K - Minutes of Board of Trustees Meetin g held October 17 and 18. 1996 22

Report of the Committee on Finance Mr. S. Herbert Rhea, Acting Chair - October 18, 1996.

The meeting of the committee on Finance was called to order by Mr. Herbert Rhea at 2:15 p.m. on Thursday, October 17, 1996 in the Hill Board Room, Palmer Hall. Other members in attendance were Mr. Jack Blair, Mr. Bayard Boyle, Jr., Ms Wayne Sharp, Dr. Debbie Pittman, Mr. Frank O'Connor, Dean Allen Boone, and Mr. N. P. McWhirter. Mr. Rhea opened the meeting with introductions and a brief summary of the functions of the committee on Finance. He also provided a general overview of the underlying financial operating premises of the College. Mr. McWhirter reviewed the results of the audited financial statements for the year ending June 30, 1996. He reported that the audit had been reviewed and accepted by the Committee on Audit which met on October 15, 1996. Highlights of the report included: 1. The financial condition of the College remains sound with the accounting firm of Ernst & Young

rendering an "unqualified opinion". 2. Total net assets of the College increased by $39,024,775 during the year from $167,315,388 to

$206,340,163. 3. The College adopted three new accounting standards this past year, FASB 106, 116, and 117

which resulted in some significant changes in the financial statement format. Postretirement benefit liability (primarily medical insurance) was recorded in fiscal '96 (FASB 106). The college has accumulated assets approaching three million dollars to fund this liability. In addition, the financial statement of activities presentation format has changed (FASB 117) to record all net assets into one of three classes (unrestricted, temporarily restricted, and permanently restricted assets). This is a major change from the way assets had been stated in the past and will require some familiarization. Finally, the College is required to record unconditional pledges to give (gift pledges) as revenues received at fair value (FASB 116). The cumulative effect of the adoption of FASB 116 is $8,960,750.

4. The endowment fund increased from $120,730,220 to approximately $149,000,000 or an increase of about $28,000,000.

Mr. McWhirter then reviewed the outstanding performance of our endowment managers this past year. The annualized return on the actively managed fund was 23.18% which places the fund in the top quartile when measured against an allocation index similar to our asset mix of fixed income and equities. Mr. McWhirter discussed the cash management program of the College. The annualized yield on short term invested cash was 5.3%. This portfolio continues to be invested in conservative, low risk securities as required by Investment Committee policy. Dean Boone discussed the budget year-to-date status through the end of the first quarter of the 1996-97 fiscal year. Total income and expense to date is in relative historical balance. The only negative so far is reduction in the number of residential students anticipated. The Board count is approximately 50 students below what had been planned. This reduction will be offset somewhat by the approximately 30 students who are abroad first term. However, gross auxiliary enterprise revenue will be down some this year. Dean Boone briefly reviewed the budget process for setting renovation and replacement priorities and the results from the year just ending. The College allocated approximately $1,000,000 for R & R projects as had been planned. Dean Boone discussed the recent expansion and renovation of the Bookstore. Under the terms of the lease and management agreement with Follett, approximately $140,000 was expended by the company to expand the store into the recently vacated space (old Lynx Lair) on the main level. The retail space has increased by about 40% and the store is more accessible to the college community and public. Finally, Dean Boone reviewed the terms of the 10 million dollar revolving credit and term loan facility with Suntrust Bank. The loan agreement provides for interim cash flow for the construction of the Campus Life Center. The College has drawn $2 million dollars to date and anticipates borrowing another 2-3 million over the next few months as the project nears completion. There being no other business the committee adjourned.

Exhibit L - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 23

Report of the Committee on Audit Mr. Edgar H. Bailey, Chair - October 18, 1996.

The meeting of the Committee on Audit was held in the Hill Board Room of Palmer Hall at 3:00 p.m. on Tuesday, October 15, 1996. Those members of the Committee present included the Chairman Mr. Edgar Bailey, Dr. Pamela Church, Mr. Palmer Brown, Mr. John Maxwell, Chancellor David Harlow, Dean Allen Boone, and Mr. N. P. McWhirter. Mr. William Drummond and Mr. Kyle Webb represented Ernst and Young in presenting the audit report. Mr. Bailey welcomed the Committee and asked that Ernst and Young proceed with their report.

Mr. Drummond began by presenting the preliminary draft of the audited financial statements for the year ended June 30, 1996. He brought to the attention of the Committee that this year's audited statements have substantial changes in the presentation structure of the statements as well as methods of accounting. Mr. Drummond noted that the College continues to receive an "unqualified" opinion. Items included within the text of the audit report are summarized as follows: 1. During the year, the College adopted three financial accounting standards; FAS No. 116,

"Accounting for Contributions Received and Made", FAS No. 117, Financial Statements of Not-for-Profit Organizations", and FAS No. 106, "Accounting for Post Retirement Benefits Other than Pensions". Under FAS No. 117, not-for-profit organizations must adopt the net asset method of accounting rather than the traditional columnar fund balance format previously utilized. Net assets are classified as unrestricted, temporarily restricted, and permanently restricted. A Statement of Cash Flows has been added to the financial presentation under this accounting pronouncement.

2. The College remains in strong financial position with net assets increasing from $167,315,388 to $206,340,163 at June 30, 1996.

3. The endowment fund market value increased from $120,730,220 to $149,000,000 which accounts for the major portion of realized and unrealized gains reported in the amount of $22,930,930. The endowment fund includes approximately $74,000,000 of unrestricted net assets and $75,000,000 of permanently restricted net assets as of June 30,1996.

4. Under FAS No. 116, the cumulative effect of the accounting change of recording pledges receivable was $8,960,750.

5. Total gifts and grants received by the College during fiscal year 1995-96 were $11,094,376.

6. Expenditures for student financial aid increased slightly during the fiscal year from $8,980,523 in FY95 to $9,076,902 in FY 96.

7. The effect of adopting the new rules under FAS No. 106 increased net periodic post retirement benefit cost for the year ended June 30,1996 by approximately $421,000. This increase is reflected in the general administrative expenditures on the Statement of Activities. The amount of unrestricted net assets designated to fund the cost of these future benefits was $2,937,331, while the unrecognized post retirement benefit transition obligation was $2,978,000 at June 30,1996.

Mr. Drummond briefly summarized emerging accounting issues which will face the College in future year. FAS No. 124, "Accounting for Certain Investments Held by Not-for-Profit Organizations" is expected to have no impact on the College's financial position since Rhodes already records investments in securities at fair market value and reports realized and unrealized gains and losses on the Statement of Activities. Mr. Drummond then presented all remaining statements required under SAS No. 61,. Communication with Audit Committee and the Report on Internal Control. Mr. Maxwell inquired of Mr. Drummond if there were any internal control weaknesses which came to light during the audit engagement. Mr. Drummond replied that there were none and that the internal control letter would be modified to reflect this determination.

The Audit Report was accepted by the Committee as presented by Ernst and Young. Mr. Drummond presented the fee proposal for the FY 1996-97 and was excused so that the Committee could discuss the retention of Ernst and Young as auditors. After discussion, the Committee voted to recommend Ernst and Young for the FY 1996-97 under the terms of the fee proposal as presented.

There being no further business, the meeting was adjourned at 4:15 p.m.

Exhibit M - Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 24

Report of the Committee on Buildings and Grounds Mr. Edgar H. Bailey, Chair - October 18, 1996.

The meeting was called to order at 2:15 p.m. by Mr. Edgar H. Bailey, Chair.

Those members present were: Billy M. Hightower, J.L. Jerden, John B. Maxwell, Jr., K.C. Ptomey, Jr., Russel L.Wiener, Steve Gadbois, Kristen Rauschkolb, William D. Berg and Brian E. Foshee. Guest in attendance: Peggy Harlow.

Mr. Bailey welcomed members of the committee and asked Mr. Foshee to proceed with the agenda items.

Mr. Foshee introduced Mrs. Peggy Harlow, Coordinator of Disability Services, and reviewed progress to date with the Americans with Disabilities Act (ADA). He stated that The Crump Firm Architects have been retained to update a facilities audit regarding accessibility. They will review each building on campus and submit report by early spring of any deficiencies related to ADA. Mr. Foshee also discussed several items of work completed this summer: upgraded accessible parking and parking signage, installed an accessible door at the Burrow Library and installed braille symbols on campus elevators.

Mr. Foshee presented a conceptual plan for the construction of a Chemistry and Mathematics Building, to be located on the south lawn, west of the Rollow Avenue of Oaks. He stated a proposal will be submitted in January to the F. W. Olin Foundation for a grant to fully fund the project. The Crump Firm has been retained to prepare conceptual plans and assist in preparing the proposal. The Olin Foundation will fund projects not to exceed $15 million. The anticipated project cost for this building is $13.5 million.

Mr. Foshee reviewed several projects that were completed during the summer. Projects included: fire alarm and computer upgrade in Robb, White, Ellett, and Bellingrath residence halls; new furniture for Bellingrath Hall; resurfacing of the Mallory parking lot; paneling upgrade of Hyde Hall and the expansion of the bookstore.

Mr. Foshee discussed the construction progress of the Bryan Campus Life Center. Mallory-Hyde and Bryan Hall - Building B have been completed and are occupied by intercollegiate sports, intramural sports, general recreation and athletic offices. Bryan Hall - Building C - is approximately two months behind schedule with a revised completion date of December 16, 1996. Mr. Foshee stated that rain and several key subcontractors have delayed the project. The structural frame and builtup roofing systems have been completed with the south slate roof approximately 75% complete. The south rubble stone has been completed and the north rubble stone is approximately 90% complete. The north slate roof will begin in approximately two weeks. Mechanical, plumbing and electrical rough-in has been completed. First floor partition walls are complete with ceiling and wood wainscot underway. The second floor walls and ceilings are underway. The running track structure is 95% complete and the concrete floor will be poured as soon as the steel structure has been inspected. The tennis complex is 95% complete and will open the week of October 21.

There being no new business, the committee adjourned at 3:15 pm for a tour of Bryan Hall.

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Exhibit N - Minutes of Board .of Trustees Meeting held October 17 and 18, 1996 25

Degrees Awarded on 11 May 1996 - Bachelor of Arts Degree

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Sarah Emily Aiken Joy Janet Al-Jazrawi

Kimberly Marie Alexander Daniel J. Alpe

Fredrick Ernest Angle, III Kathlean Brooke Arnold

Jeremy David Bailey

Mary Elizabeth Bankson Matthew Joseph Bettridge

Brian Lindsey Biffle James Barr Bogner, III

Charles Robert Bone Jane Paxson Brigden

Alejandra Ochoa Briseflo Steven Christopher Brown

Michael Rolfe Buntaine Francis Gerard Burhar

Stanley Williams Burke, W Elizabeth Wester Burr

Brooke Ashley Burns Mary Helen Butler

John Joseph Cameron Thomas Hauser Castelli

Amy Elizabeth Chifici Karla Susanne Clingan

Kathryn McLennan Cockrill

Abigail Kathryn Cohan Richard Kemp Conrad

Katherine Ann Conti Megan Durand Crowell

Philip Edwin Crystal, II Catherine Susanna Cuellar

John Gerard Curren, III John F. Dalton, Jr.

Britt Knox Daniel Wesley Austin DelCol Melissa Dawn Denley

Stephen Maloy Deusner Chesley Hopper Dickinson

Amy Rosann Dollarhide Michael Alan Dowdy

Barbara Gentry Dowel! Robert Warren Downey

David Christopher Drake Douglas Brian Duncan

Whitney Nicole Earhart Carrie Daniels Engstrom Stephen Mark Jay Espy

Joanne Denise Estes David Basil Eubanks Mary Elizabeth Farr

Jennifer Ellen Farringer Michael Edward Federico

Ryan Bodiford Feeney John Adams Feild

Richard Aloysius Finch Patrick Gordon Fisher

History Political Science English Business Administration Business Administration English Political Science

Spanish History Spanish Religious Studies ...... Psychology English Business Administration Art Biology Psychology Religious Studies English International Studies . and Political Science Business Administration International Studies History History International Studies Business Administration Psychology Psychology Psychology Anthropology / Sociology English Political Science Biology History Political Science Spanish Business Administration International Studies

cum laude Phi Beta Kappa

cum laude

cum laude

magna cum laude Phi Beta Kappa Honors Research

English Philosophy ...................cum laude Business Administration Religious Studies Political Science Psychology Psychology History (in absentia) Business Administration International Studies Economics and International Studies (double major) English Biology ......................cum laude Philosophy (in absentia) English Political Science Greek and Roman Studies .......cum laude History English ..............

Exhibit N - Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 26

Emily Catherine Flinn George Shea Flinn, III Allison Patricia Fones

Stephen Steele Ford, Jr. Jennifer Dawn Foster

Angela René Fox Martin Lee Fox

Kristen Lyn Frentz Sarah Kathleen Frinks

Andrew McDonnell George Kevin Almack Gideon

Christopher Thomas Godwin Elizabeth Powell Goings

Valerie Lynne Gordon William Cedric Gordon, Jr.

Camille Lane Gotten Heather Leigh Green

Amanda Clay Griffith Paul Kellison Guibao

Kristy LeAnn Gunn Amy S. Hall

Heather Marie Hamby Albert Frederick Hammer, IV

Peggy Pearce Harlow James Oliver Harr

Gerald John Harrington

Mary Kent Harrison Robert Adams Harrison, II

John Michael Hart, Jr. Jennilyn Floyd Hass

John Lehmann Havercamp Michael Webster Hayes

Gerrad Raegan Heep Michael David Henson

Laura Evelyn Hicks Christopher Gray Hicky Rocky Thomas Hidalgo

Nicholas Jerome Hingel Kathryn Thu Thi Hoang

Shelley Lorraine Hoffmann Edward Russell Hoge, III Kandace Kane Holladay

Charles Hollingsworth Hooker, III Melissa Denise Kathryn Houtcooper

Michael Aaron Houts Jenifer Olene Howe

Karen Gail Huddleston Christina Marie Huntington

Anna Ingram Hurayt Ryan B. Hutchison Ian Malcolm Irwin

Amber Isom Charles Allen Jackson, Jr.

Albert Duncan Johnson Matthew Raleigh Johnson

Vanessa Flora Marie Johnson Julia LaSalle Johnston

English Theatre (in absentia) History History Economics and ................ cum laude Business Administration Psychology ................... cum laude Art ......................... cum laude

Honors Research Biology Political Science and Philosophy (double major) Urban Studies History and Greek and Roman Studies (double major) Business Administration Political Science Biology Philosophy Spanish ..................... cum laude Biology English Political Science History English ...................... cum laude

Phi Beta Kappa English English Political Science/History Music English and Philosophy ......... magna cum laude (double major) ................ Phi Beta Kappa International Studies Biology English English Biology Political Science Business Administration Computer Science Psychology ................... cum laude Political Science English Psychology Political Science English English Spanish Psychology Business Administration Anthropology / Sociology and Spanish (double major) Political Science and History (double major) Religious Studies Art and English ............... summa cum laude (two degrees) ................. Phi Beta Kappa English Biology ...................... cum laude History English English and Economics ........... cum laude (double major) ................ Phi Beta Kappa Business Administration International Studies Psychology and Business Administration (double major) International Studies ........... cum laude

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Exhibit N - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 27

Karen Diann Jones Jennifer Leslie Juliano

Rachel Danelle Kelly

Allyson Kay Kennett Whitney Catherine King

Heather Anne Kirksey Daniel Evan Kirsch

Daniel Peter Klinghard

Cassandra Lynn Kiotwog Emily Anne Kurzeka

Beth Michele Lacaeyse Loretta Elmere Lambert

John Duncan Langdon Jennifer Judith Larson

Robert Christopher Laster Christopher Alexander Ledford

Jamee Louise Lee Jennifer Ann Lee

Natasha Shanté Lewis Margaret Allison Lindsey

Amy Elizabeth Lounsbury David Luchin

Whitney O'Lone Luckett Cecilia Isabel Magnacca

Henry Samuel Marchal, III

Elizabeth Merrick Marshall Susan Marie Mathis

Virginia Brittain Maxwell Patrick Winston Mc Carroll

Anne Marie Mc Collum Ann Laura McCranie

Tracy Cathleen McElmurray Christina Marie McFarland Jason Anthony McFarland

Hallie Vinton McNeill Caidwell Kopert Meeks

Courtney Lesemann Melchers

Meredith Patricia Miller Daniel Cohen Miliner Heather Grace Moore

Ada Marcelina Moreno Jonathan Michael Morgan

Darian Mostashari Ginny Rae Neal

Meredith Ann Neer Phuong-Linh Huynh Nguyen

Julie Ann Nichols Peter Foilmer Noll Carrie Lee O'Dell

Kristin Emily Oswalt George David Overend

History ......................cum laude Biology ......................cum laude

Phi Beta Kappa Economics and ................magna cum laude Business Administration ........Phi Beta Kappa Biology Political Science Political Science Religious Studies and Economics (double major) .................cum laude Political Science ...............cum laude

Phi Beta Kappa Honors Research

Economics and Business Administration International Studies International Studies Political Science History English History Economics and Business Administration (double major) English Spanish Biology History Religious Studies Greek and Roman Studies .......cum laude

Phi Beta Kappa Anthropology/Sociology International Studies (in absentia) International Studies and .......magna cum laude French (double major) ...........Phi Beta Kappa English Psychology Business Administration History ......................cum laude

Phi Beta Kappa Spanish ......................cum laude Anthropology/Sociology ..........cum laude

Phi Beta Kappa Spanish .....................cum laude Psychology Art History History Psychology ...................magna cum laude

Phi Beta Kappa International Studies Physics International Studies ...........magna cum laude

Phi Beta Kappa Honors Research

Psychology Business Administration Business Administration English ......................cum laude Psychology and History (double major) International Studies Urban Studies Economics and Business Administration Theatre Biology History

Exhibit N - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 28

David Lee Parker Edward Martin Parker

Christopher Bates Parkérson Rebecca Jill Patterson Carter Metcalf Patton

Medea Marlin Peach Mark Andrew Pennebaker

Annetta Athena Petropoulos Jenny Gayle Phillips

Heather Michele Plumb Courtney Lynn Poole

William I. Powell

Emoke Katalin Pulay

Rachael Elizabeth Rack Hansen Payne Rada

Jessica Michele Rainey William Palma Rainey, II

Robert Rex Record

Mildred Irene Reed Robert Andrew Renjel

Adam Wayne Renshaw Heather Marie Reynolds

Jennifer Ann Rezba Timothy Paul Rhodes

Virginia Carol Richards Patrick Wayne Ricks

Patrick Daniel Riederer John David Rodriguez

Jamie Ruth Roeling Alison Leah Roesler

Maria A. Rolfs Anna Marie Ross

Anne Elise Ruddick

Brandon Ty Rutledge Corey Fontaine Saba

Joanne Mary Samaha Rebecca Sanchez

Joseph Garrett Sankey Jill Tracey Schenk

William Allen Seay Shaily H. Shah

Jennifer L. Shepard Lucian H. Shockey, Jr.

Tracey Elizabeth Short Shannon Michelle Simpson

Christy Michelle Skelton Carey Marie Skinner Christina Erin Smith Joel Edgerton Smith

Margaret Elizabeth Park Smith Melanie Ann Smith Timothy W. Smith

Margaret Vanessa Smithpeter

Billie Ann Snodgrass Joshua Michael Somes Cynthia Lee Stephens

Phi Beta Kappa Business Administration History Political Science Biology Political Science Japanese Studies Urban Studies Business Administration ........ cum laude International Studies International Studies Biology English Theatre English International Studies and ....... cum laude French (double major) Biology Biology ....................... cum laude International Studies Psychology and French .......... cum laude (double major) ................ Phi Beta Kappa Economics English ...................... cum laude English History History Art History English - English and History (two degrees) Business Administration Psychology Business Administration Psychology ................... cum laude Political Science English Psychology ................... cum laude

Phi Beta Kappa International Studies Art Religious Studies

Business Administration Business Administration International Studies Biology Urban Studies Anthropology / Sociology Business Administration Business Administration International Studies ........... cum laude Religious Studies History Political Science and ........... cum laude Philosophy (two degrees) History and ................... magna cum laude Religious Studies .............. Phi Beta Kappa (two degrees) English ...................... cum laude Biology Psychology History Business Administration ........ cum laude

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Exhibit N - Minutes of Board of Trustees Meeting held October 17 and 18. 1996 29

Michael Christopher Stoker Helen Douglas Sweitzer

Loyd Estes Tarver, III Amber Nicole Tate

Kristen Alexa Taylor Christopher Aris Theofiledes

Maryl Scott Valentine Felix Vazquez Chona

James Richard Walker, III Amanda Ruth Wailer

Tracy Jean Walton Joseph William Wantuck

Jennifer Elaine Warren Charles Edmund Watson

Jennifer Lynn Welch Cassandra Blythe Whetsell

Matthew Allen Williams Shannon Hope Williams

Jennifer Lynn Wilson Peter Aaron Wilson

Wade Cortland Winsett Sarah Jean Wolford Mary Clare Younger

Art Psychology Psychology ................... cum laude Political Science English ...................... cum laude Biology Psychology Economics and ................ cum laude Business Administration Biology Theatre ..................... cum laude Anthropology / Sociology Biology History Art Theatre International Studies Philosophy and Theatre (double major) Political Science Psychology History Business Administration Political Science and Spanish (double major) Psychology ................... cum laude

Degrees Award ed on 11 May 1996 - Bachelor of Science Degree

Jacob Abraham Physics ..................... magna cum laude Phi Beta Kappa Honors Research

Geraldine Alba Biology

Natalie Dell Bailey Biology ...................... magna cum laude Phi Beta Kappa

Michael L. Blanscet Biology

Myles Brandon Bogner Computer Science .............. cum laude

Scott Samuel Brown Mathematics .................cum laude Phi Beta Kappa

Victoria Jean Brown Biology Margaret Brashier Bush Biology

John Carville Chauvin Physics ......................cum laude Honors Research

Amy Laurel Cooper Biology ...................... cum laude Phi Beta Kappa

Brad Ashley Deykin Biology ......................cum laude Derek James Eaton Biology

Daniel Joseph Ellinger Biology Christopher Farris Biology

Lewis Franklin Feuquay Biology

Lara Lynn Fleming Biology ......................cum laude Phi Beta Kappa

Rebecca Lynn Habeeb

Chemistry .................... magna cum laude Phi Beta Kappa

Pamela Kay Hanson Chemistry ....................cum laude Janet Farris Henderson Biology

Sandra Nichole Holzhauer Biology ......................cum laude Phi Beta Kappa

Mathew David Hutchinson Chemistry .................... magna cum laude Phi Beta Kappa

•............................Honors Research Deanna Carol Isbell Biology

Richard Conrad Kamm, Jr. Biology ......................cum laude Phi Beta Kappa

Sara Ann Kraabel

Biology ......................cum laude

Biology Chemistry Biology Biology Chemistry .................... summa cum laude

Phi Beta Kappa Honors Research

Biology Biology Mathematics Biology Chemistry Biology Biology Chemistry Biology Mathematics ................. cum laude Biology ...................... cum laude Physics ...................... cum laude

Phi Beta Kappa Biology Biology (in absentia) Biology Computer Science Mathematics Biology ...................... cum laude

Phi Beta Kappa Biology Biology

ded on 11 May 1996 - Master of Science Degree Accountancy Accountancy Accountancy Accountancy Accountancy Accountancy

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Exhibit N - Minutes of Board of Trustees Meetin g held October 17 and 18, 1996 30

Michael Rhodes Lee Kevin Scott Mathews

Marion Bancroft McMurphy, III Brian Walter Mooney

Elizabeth Barron Moore

Phuong Kim Nguyen Alpesh Patel

Jason Turnbow Pettigrew Erin Kathleen Pias

Frank Henry Pinkerton, Jr. Richard James Reynolds, IV Morris Leonardo Rivera, Jr.

Duane James Robichaux John Shannon Rose

Michael Joseph Rosolino Michael Shay Sabom

Van Maurice Savage, Jr.

Degrees Awar Canton Joseph Scott Austin

Jason Wayne Collard Lowry Hudson Howell

David Sanders Humphreys Jason Derek Rauls Mark L. Strickland

Jacqueline Renee Schafthauser Deborah Kay Smith

Kelli Ann Sutherland Clifford A. Thomas

Oscar Ferebee Tunno Kim Nhat Vu

Brian Robert WamhofT Danita Ronique Weary

Degrees Awarded on 15 August 1996 - Bachelor of Arts Degree

Christopher Eric Chastain Biology Susan Judith Geist Political Science

Patrick Joseph Killian Biology Astrid Nicole Smith Anthropology/Sociology

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IRhodes Board of Trustees

Minutes of a Special Meeting of the Executive Committee June 18, 1996

Board Chair Frank M. Mitchener, Jr. called a special meeting of the Executive Committee of the Board of Trustees of Rhodes College to consider the following recommendation from President James H. Daughdrill, Jr.:

That Professor Kenneth Morrell, Assistant Professor, be promoted to Associate Professor and be granted tenure effective with the 1996-9 7 contract.

The meeting was convened by means of a telephone conference call at 9:00 a.m. (Central time), Tuesday, June 18, 1996.

Those participating in the conference call were: Mr. Frank M. Mitchener, Jr., Mr. Dunbar Abston, Mr. Jack R. Blair, Mr. J. Lester Cram, Jr., Mr. Donald H. Farris, Mr. W. Neely Mallory, Jr., Mr. Michael McDonnell, Dr. James H. Daughdrill, Jr., Chancellor David L. Harlow and Mrs. Sherry J. Fields. Those who could not participate in the conference call, but voted to support the action are: Mr. Robert H. Buckman, Mr. James A. Thomas III, and Mr. Spence L. Wilson.

President Daughdrill presented the reasons for his recommendations.

A motion was made by Mr. Michael McDonnell and seconded by Mr. Dunbar Abston to support the recommendation in favor of the promotion and tenure for Dr. Kenneth Morrell. The motion was carried.

Dunbar Abston, Sary

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