Structure of Professorship. The Professorship will exist at Mercatus in perpetuity in accordance with the terms and conditions of the agreement between Mercatus and Xxxxx (Appendix A). An invitation to occupy the Professorship will require a majority vote of the Selection Committee. Through this Agreement, the University agrees to provide the Initial Professor with a tenured faculty position at Xxxxxx Xxxxx University ("GMU Faculty Position"), with all the privileges and protections associated with that title, at an annual salary of the appropriate amount. The University agrees to pay the university salary and provide full university benefits for the GMU Faculty Position as long as an Initial Professor qualifies for a tenured faculty position at Xxxxxx Xxxxx University and otherwise remains qualified for the Professorship (as determined by the Advisory Board at its sole discretion). For purposes of this agreement and the separate agreement in Appendix A, Initial Professor shall refer to any individuals chosen by the Initial Selection Committee and ratified by GMU to occupy both the Professorship and the GMU Faculty Position prior to September 1,2013. The Professorship shall be operated exclusively for charitable and educational purposes within the purview of Section 501(c)(3) of the Internal Revenue Code of 1954 or such section or comparable section as hereinafter amended. No part of the funds shall inure to the benefit of any private individual and/or business corporation and no part of the activities of the Professorship shall consist of carrying on 2 JN.07 or otherwise attempting to influence legislation or participating or intervening in any political campaign on behalf of any candidate for public office.
Structure of Professorship. The Professorship will exist at Mercatus in perpetuity in accordance with the terms and conditions ofthis Agreement. An invitation to occupy the Professorship will require a majority vote ofthe Selection Committee. Additionally, through a separate agreement between the Mercatus and Xxxxxx Xxxxx University (Appendix A) any Initial Professor will have a tenured faculty position within Xxxxxx Xxxxx University (“GMU Faculty Position”), afforded all the privileges and protections associated with that title, Mercatus will enter into that agreement with the University in reliance upon fulfillment ofthis Agreement. Xxxxxx Xxxxx University will pay the university salary and provide full university benefits for the GMU Faculty Position as long as an Initial Professor qualifies for a tenured faculty position at Xxxxxx Xxxxx University and otherwise remains qualified for the Professorship (as determined by the Advisory Board at its sole discretion). For purposes of this Agreement and the separate agreement in Appendix A, Initial Professor shall refer to any individuals 2 LW.09 chosen by the Initial Selection Committee and ratified by GMU to occupy both the Professorship and the GMU Faculty Position prior to September I, 2014. Should an initial holder of the Professorship vacate the position after September 1,2014, Mercatus will have sole discretion, with the concurrence ofthe Advisory Board, to bestow the Mercatus position on the subsequent holder including the option oftransferring the professorship to an existing GMU professor or other Mercatus Scholar whose work is consistent with the original intent ofthis Agreement.
Structure of Professorship. The Professorship will exist at Mercatus in perpetuity in accordance with the terms and conditions of this Agreement. An invitation to occupy the Professorship will require a majority vote of the Selection Committee. Additionally, through a separate agreement between the Mercatus and Xxxxxx Xxxxx University (Appendix A) any Initial Professor will have a tenured faculty position within Xxxxxx Xxxxx University (“GMU Faculty Position"), afforded all the privileges and protections associated with that title. Mercatus will enter into that agreement with the University in reliance upon fulfillment of this Agreement. Xxxxxx Xxxxx University will pay the university salary and provide full university benefits for the GMU Faculty Position as long as an Initial Professor qualifies for a tenured faculty position at Xxxxxx Xxxxx University and otherwise remains qualified for the Professorship (as determined by the Advisory Board at its sole discretion). For purposes of this Agreement and the separate agreement in Appendix A, Initial Professor shall refer to any individuals chosen by the Initial Selection Committee and ratified by GMU to occupy both the Professorship and the GMU Faculty Position prior to September 1,2013.
