critical role of students as both partners and advocates in this enterprise. Bothparties also recognize ASUCD’s role as the governing body and representative of the undergraduate student body, and acknowledge the additional roles of other student governance groups, including CURB, as consultative bodies.Further, both parties agree that this corporate sponsorship agreement has beencreated as a means of advantaging student services and that such partnershipsare intended to be philosophically appropriate, compliant with university policy,and based upon on-going consultation with students.
III.Specific Terms and Understandings
The following specific conditions are agreed to as understandings internal to theuniversity and are fully consistent with the contractual agreement between theuniversity and US Bank. They include:
A.Use of Minimum Guaranteed Annual Payment
Both parties acknowledge that specific benefits (hereinafter referred to as“assets”) are guaranteed in the contract to US Bank. These include suchitems as ATM or branch bank locations, signage, or sponsorship exposurein university facilities and at selected events. Both parties acknowledgethat distribution of a portion of the annual revenues to the university shallbe fairly and appropriately distributed to those campus entities that areresponsible for these assets.
Both parties also agree that distribution of a portion of the annualrevenues to the university shall also be fairly and appropriately distributedto a variety of student services, particularly as a means of ensuring their continued or enhanced service to students during a time of budgetaryreduction.
The specific allocation of revenues from the minimum annual payment of $176,000 shall include compensation for the required assets specified inthe contract, for a total of $72,500, as follows:
$ 5,000 per year: Campus Recreation
$15,000 per year: Memorial Union and Auxiliary Services
$17,500 per year: Intercollegiate Athletics
$50,000 per year: Fountain and Vending Fund – maintenance andoperation of fountain and vending spaces and partnerships
The remaining $88,500 of revenue from the minimum annual paymentshall be allocated to a variety of student services at the discretion of theVice Chancellor – Student Affairs. The Vice Chancellor shall utilize the