CNH Industries Scholarship

The Fund shall be held as a current use fund, as defined by University and Foundation policy. All of the Fund’s assets will be available for spending. The Fund shall benefit the College of Agricultural, Consumer and Environmental Sciences at the University of Illinois at Urbana-Champaign (“Unit”). If for any reason the current functions of the Unit are transferred to another organizational unit of the University or the name of the Unit is changed, then the Fund will continue to benefit the Unit, as changed. The Fund shall support scholarships in the Unit. Scholarships shall be awarded annually to one student majoring in Agricultural and Biological Engineering and one student majoring in Agricultural and Consumer Economics. Preference shall be given to students that have financial need, have at least a 2.75 grade point average (on a 4.0 scale), and are continuing students that are rising sophomores or juniors. Spouses, children and grandchildren of CNH Industrial employees are not eligible to be recipients of the Fund’s scholarships. Further, if a potential recipient identifies himself or herself as a CNH Industrial employee, intern or co-op, no preferential treatment will be given to such potential recipient and the potential recipient will be evaluated for receipt of the scholarship in an entirely equal capacity to any other applicant. The University may determine all other details about the use of the Fund, including, but not limited to recipients, amount spent, and timing, in accordance with University policies and procedures. Donor acknowledges and agrees that there will be no Donor involvement or input in administering the scholarship, establishing any additional criteria for receipt of the scholarship or selecting the recipient students for the scholarship. Additionally, receipt of the scholarship by any student will not be considered indicative of any future employment of the student with the Donor or its affiliates. The Donor grants the Foundation and the University the right to use “CNH Industrial” in the name of the Fund as described in Section 2.1; provided, however, that the Foundation and University shall submit to the Donor for review and approval all materials that include the name “CNH Industrial” or that describe the Fund’s scholarships, and the Foundation and the University will not publish or distribute such materials without the Donor’s prior written approval. Once approved by the Donor, the Foundation and the University may continue to use materials that are substantially similar to the approved materials.