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received from the Board members. He was also pleased with the Board's expression of love and
respect for the university, the Board's effort to see the university move forward, the Board's
realization that we are not perfect, and the Board's realization that this university has a special
place in the life and well-being of the Commonwealth. This evaluation contributes to the
university's success in accomplishing its mission. It allows for an honest assessment of the
strengths and weaknesses, and it allows the president to see how he is gauged by others. The
evaluation also allows an important time for each Board member to think closely and carefully
on matters of importance that the president should be judged on.

      Mr. Reed said that he had also heard from members of the public by way of e-mail and
telephone calls. The public input is very valuable to him, and he thinks it is very important for a
public university to have that input.

      Mr. Reed reviewed the agenda for the evaluation process. Following the committee's
discussion of the president's evaluation, he said the committee would discuss a bonus for
President Todd.

      Mr. Reed presented the Board's responses to the evaluation questions. Due to the
lateness of submissions, he said that he had them in draft summary and did not have a report to
give to the Executive Committee members.

      Dr. Meriwether interrupted and said that he had been asking Mr. Reed to have an
Executive Committee meeting for the last year on three separate occasions, and he only received
notice of this meeting an hour prior to the meeting.

      Mr. Reed apologized to Dr. Meriwether and said that he did not understand why he
received the notice of the meeting an hour prior to the meeting.

      Mr. Hardymon said that he was not on the Board last year and knows nothing about the
process except what Mr. Reed had told him and what had been done this year. From his
experience with other boards that he has served on, this is a process that board members take
very seriously. He thinks that it is important for the committee to hear from President Todd. He
asked if President Todd could speak about his evaluation before reviewing the Boards' responses
to the questions. Sometimes it is easier to hear from someone than to read paragraphs.

      Mr. Reed asked President Todd if he would prefer to give his remarks at the beginning or
go through the evaluation process and then give his remarks.

      President Todd indicated that he preferred to give his comments at the beginning and
began his remarks. The fact that the university has been cut approximately $70 million has been
a road block for him; however, he has been able to bring top people such as Dr. Michael Karpf
who was a major hire this past year, Dick Siemer, vice president for finance and administration,
and several others in significant positions. He said that he had written his comments in terms of
goals that he has tried to achieve. He presented the following goals and elaborated on each of
them: