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      President Todd said that PR 2 was on the consent agenda; however, he was going
to deviate slightly because of a personnel issue and a special presentation. It is in
recognition of a University employee who is celebrating a 30th service anniversary. She
actually reached that mark in November, but there was something on order that did not
arrive on time.

      He said that Peggy Way has actually had 33 years of service with the University
of Kentucky when you take into account her first tour of duty. She left the University
briefly before coming back for good. She began her new tour in Journalism, spent time
in Graduate Studies, and Personnel and Benefits before moving to the President's Office
in 1982. He said that he is the fourth President that Peggy has served. Probably more
accurately, the fourth President that Peggy has trained.

      President Todd said that as you become acquainted with Peggy, you really know
that she has two families. She is extremely committed to her true family. She has met all
of those challenges in an extremely personal way this last year, which has been
challenging for her. He said that he respects Peggy's devotion to that family.

      He said that those who have been on the Board longer than he has been in his
position know that the Board is family, too, as well as the rest of the University. Peggy is
deeply loyal and protective of this family as well.

      For those 30-plus years of outstanding service, for dealing with the
Administration Building fire, for dealing with four presidents, and for dealing with Board
members, President Todd presented a small token of appreciation to Peggy for that
service and said that he wanted to let her know how much they feel that she has
contributed to the institution in the time of her presence here. Peggy was saluted by a
standing ovation from the Board and the audience.

      Peggy thanked President Todd for his kind words and the 30-year service award
charm.

      F.    Appointment of Dean of the College of Medicine (PR 3)

      President Todd said that PR 3 is the appointment of the Dean of the College of
Medicine. He is pleased to recommend the appointment of Dr. Jay A. Perman as Dean of
the College of Medicine and Vice President for Clinical Affairs for the Chandler Medical
Center effective May 1, 2004.

      He reminded the Board that Emery Wilson resigned as Dean of the College of
Medicine to return to the faculty. A search committee was appointed and did a national
search. There were 42 candidates scrutinized by the committee, and seven finalists were
interviewed on campus. Dr. Perman received enthusiastic support across the University
and was strongly supported by the search committee. President Todd asked the Board to
approve the appointment of Dr. Jay Perman as Dean of the College of Medicine. Dr.
Meriwether moved approval of PR 3. Ms. Sims seconded his motion, and it carried
without dissent. (See PR 3 at the end of the Minutes.)