Lillian S. Wells Fund for Brain Tumor Research

Fund Purpose
To recruit and support senior level world-renowned scientists and their teams in brain tumor research in the Dept. of Neurosurgery; funds may not be used to pay indirect costs, overhead or administrative cost, including, but not limited to charges with respect to grant administration, fund raising or management. The spendable income from the Fund (determined in accordance with Section 5), shall be disbursed from the Fund quarterly for the specific purposes stated above and the Fund shall have "most favored nation" status in the determination of "spendable income" such that its spendable income percentage is no less than the spendable percentage of any other fund of the Foundation. If, in the best judgement of the Board of Directors of the Foundation, all or part of the Gift cannot be used in the manner described in this Agreement, or if the Department of Neurosurgery is unable to retain the services of a world-renowned scientist in the field of brain tumor research by July 1, 2013, or if at any time in the future the Department of Neurosurgery no longer employs one or more world-renown scientists in the field of brain tumor research an is unable or unwilling to hire another such scientist within a reasonable time period after a vacancy in such position, the College shall immediately notify the Donor in writing. In any such case, the Foundation and the Donor shall discuss alternative plans for the application of Gift funds and agree on a an alternative use. If the Board determines that all or part of the Gift cannot be used in the manner described in this Agreement, and the Donor is no longer in existence, the Board may use the Gift for other purposes as nearly aligned to the Donor's original intent as the Board deems appropriate under the circumstances.