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Mutu f11 rn /Baird <br />1 775 Massachusetts Ave. <br />Lexington, MA 02420 <br />Telephone: (781) 861 -0650 <br />FAX: (781) 863 -8723 <br />F. DAVID WELLS, CLU <br />STEVEN T. BALTHASER, CLU <br />August 9, 2000 <br />Allen S. Fields <br />Trustees of Public Trusts <br />Town of Lexington <br />Lexington MA 02420 <br />Re: Lexington High School Class of 1953 <br />June Wilson Kennedy Fund <br />Dear Mr. Fields: <br />This letter is to set forth the terms upon which the Trustees of <br />Public Trusts agree to bold the trust fund (to be known as the June <br />Wilson Kennedy Fund) established by the Lexington High School Class <br />of 1953. <br />1. The Trustees will hold and invest the Fund as part of the common <br />trust funds administered by them for the benefit of the Town of <br />Lexington. <br />2. Net income from the Fund shall be paid as follows: <br />A. Beginning in 2003, the Trustees shall award annual <br />scholarship(s) in the amount of up to three - fourths of the <br />net income of the Fund. Remaining income from the Fund <br />shall be added to the principal. Until December 31, 2002, <br />all capital gains and income shall be transferred to <br />principal. <br />B. The scholarship(s) will be awarded to a student who has <br />demonstrated a need for the funds in order to continue his <br />or her academic education. <br />C. The scholarship(s) will be awarded to a student who has <br />worked conscientiously and to the best of his or her <br />ability without necessarily achieving high level academic <br />standing. <br />Special Agents, THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY, MILWAUKEE • Life Insurance, Disability Insurance, Annuities <br />Robert T. Frieling, CLU, ChFC, General Agent <br />Registered Representatives, NORTHWESTERN MUTUAL INVESTMENT SERVICES, LLC • Variable Annuities, Variable Life Insurance <br />720 East Wisconsin Avenue, Milwaukee, WI 53202 (414) 271 -1444 <br />Registered Representatives, ROBERT W, BAIRD & CO. INCORPORATED • Member New York Stock Exchange Inc., other principal exchanges and SIPC <br />Mutual Funds, Unit Trusts, Money Market Funds <br />55 William Street, Wellesley, MA 02482 (781) 237 -7070 <br />