Tronox/Walters Scholarship

SCHOLARSHIP AGREEMENT

Between the Soda Springs Education Foundation, an Idaho non-profit corporation (hereinafter the “Foundation”.  The Principal of the Soda Springs High School and Tronox who agrees as follows:

 1.  The Foundation agrees to make available to the Principal of Soda Springs a sum of $1,000.00 for one year to be used as a scholarship award to member of the graduating class of Soda Springs High School.

 2.  A committee is to be chosen to select the student to receive the award.  The Committee members are to include three representatives appointed by the Foundation, and include one representative from Tronox.

 3.  The committee is to meet to consider applicants for the scholarship award no later than two weeks before each year’s commencement exercises.

 4.  The award is to be used to pay full-time tuition at an approved college, university or vocational school.  It is not to be paid to the student directly, but will be paid jointly to the student and to the college, university, or vocational school upon registration by the student for the approved course work.

 5.  The selection committee shall use the following criteria (which are not in any order of priority of importance) in the awarding of the scholarship. 

a.  Letters of recommendation from individuals in the community who are qualified to comment on the student’s past and on their potential for the future. 

b.  High School grads.  These are to considered in the selection, but are not to be a deciding factor in the selection of the scholarship recipient.  Special consideration should be given to those candidates who have cumulative GPA between 2.0 and 3.5. 

c.  An in-person interview between the committee and the leading contenders for the award. 

d.  Special consideration shall be given to applicants who have not received grants or scholarships from any other sources. 

e.  Special consideration shall be given to direct descendants of Tronox employees who have applied.

 6.  The name of the scholarship award will be the Tronox Scholarship in memory of Lourene Walters.

 7.  No action taken shall be influenced by an bias or prejudice on the basis of Race, color, religion, gender, or national origin.

 8.  If the committee so chooses, the award for a given year may be divided between two applicants who are equally deserving.

 9.  This agreement shall be in effect for the 2006-2007 school year.

 10.  The Principal agrees to use whatever means are reasonable and necessary to give ample exposure to all potential applicants of the availability of this scholarship award, and to encourage any graduating senior interested in the award to apply.

 11.  If any local, state, or federal law or regulation shall be passes or enforced upon the Foundation or the school administrators involved that would diminish the funds that actually assist the intended beneficiaries of this agreement, then this Agreement may be voided upon request by any of the parties hereto.