Minutes of the Meeting of the Executive Committee of the Board of Trustees of the
University of Kentucky, Tuesday, June 24, 2003.

      The Executive Committee of the Board of Trustees of the University of Kentucky met
at 12:00 Noon on Tuesday, June 24, 2003, in Room A on the 18th floor of Patterson Office
Tower on the Lexington Campus.

      A.    Meeting Opened

      Mr. Steven S. Reed, Chair, called the meeting to order at 12:00 Noon.

      B.    Roll Call

      The following members of the Executive Committee of the Board of Trustees
answered the call of the roll Marianne Smith Edge, Robert P. Meriwether, Steven S. Reed
(Chair) and Russ Williams, ex officio member. Mr. Paul Chellgren was absent. The
University administration was represented by President Lee T. Todd, Jr.

      Other members of the Board of Trustees and various news media were also in
attendance.

      C.    Approval of Minutes

      Mr. Reed said that the Minutes of the July 15, 2002 Executive Committee meeting
had been distributed and asked for a motion of approval. Ms. Wickliffe moved approval.
Her motion, seconded by Ms. Edge, carried.

      D.    Discussion Regarding Performance Review of President Lee T. Todd, Jr.

      Mr. Reed said that the purpose of the meeting is for the Executive Committee to
fulfill its charge in the Governing Regulations to serve as the Performance Review
Committee for the President. He explained that the Board had changed the process to
provide for more transparency as opposed in the past. This is a new process, and as such, it
is not perfect. The Governing Regulations also direct that the Executive Committee seek
input from the University's Senate, Staff Senate and Student Government Association. He
reported that this had been done, and he had also taken the liberty to welcome input from the
Trustees.

      Mr. Reed summarized the following strengths of President Todd based on the
feedback he received from the students, staff, faculty, Trustees, and a few others, who may
have called him from time-to-time:

      Unprecedented accessibility; extraordinary character; strong work ethic; a passion for
      students in the Commonwealth; innovative ideas; directed the Athletic Department to
      donate $1 million annually for scholarships; skillful handling of the budget crisis to
      ease the pain for all, including the faculty; shown great courage in his willingness to