University of Virginia Library

The Board of Visitors of the University of Virginia met on this date at 3:30 p.m. for a
called meeting in the Office of the Chancellor of Mary Washington College, at Fredericksburg,
with the following present: Rector Charles R. Fenwick, and Visitors Blanton, Camp, Cross,
Faulconer, Hobbs, Johnson, Kendig, Kuykendall, Lantor, Lewis, Montague, Rogers, Walker, and
Williams. Absent: President Edgar F. Shannon, Jr., and Visitors Parrish and Wilkerson
Vincent Shea was also in attendance.

PRESIDENT'S DEFERRED COMPENSATION AGREEMENT

The Rector presented to the Board for consideration a draft of a proposed Deferred Compensation
Agreement between the University and President Shannon which had been prepared in consultation
with R. P. Burroughs Company, Inc., Actuarial Consultants, covering retirement, disability,
severance and death benefits, and which had been approved by the Finance Committee.

After discussion, upon motion duly made and seconded, it was,

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia
that the Deferred Compensation Agreement between the University and Edgar F. Shannon, Jr., in
the form as presented to this Board be and it is hereby approved, and that the Rector be and he
is hereby authorized, empowered and directed to execute such agreement in the name and on behalf

of The Rector and Visitors of the University of Virginia and that the Secretary or Assistant Secretary
of this Board be and he is hereby authorized, empowered and directed to affix the seal of the University
thereto and attest the same.

RESOLVED, FURTHER, that anything contained in the resolution of this Board on this matter
adopted at its called meeting held on 16 October 1964, in conflict herewith be and it is hereby
rescinded.

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On motion the meeting was then adjourned at 3:40 p.m.