THIRD AMENDMENT TO AGREEMENT

This Amendment (?Third Amendment?) is made and entered this ?day of March, 2016,
by and between John H. Schnatter (?Contributor?) and University of Louisville, and agency and
instrumentality of the Commonwealth of Kentucky (?University?).

Recitals:

A. The parties entered an Agreement dated as of May 16, 1996 (?Agreement?) with
respect to a contribution made by Contributor to the University of Louisville to assist with the
construction of a new football stadium.

B. The parties subsequently entered into two amendments to the Agreement, the ?rst
dated as of September 26, 2000 and the second dated as of August 27, 2007 (the latter being
referred to herein as ?the Second Amendment to Agreement?).

C. The Second Amendment to Agreement provide for certain contributions to be made
by Contributor and certain amendments being made to the Agreement.

D. The Contributor desires, and the University agrees, that the remaining future
contributions under the Second Amendment to Agreement and the amendments thereto be
designated for academic programs at the University rather than applied toward the construction of
the sports facility referenced in the Second Amendment to the Agreement.

Agreement:
Now, Therefore, the parties agree as follows:

1. Amendment to Contribution. The ?nal three of the ten equal annual installments
referenced in the Second Amendment to Agreement shall be made as follows:

The third to last payment shall be divided equally by the University between
academic programs and the sports facility referenced in the Second Amendment to the
Agreement.

The ?nal two payments shall be designated solely to academic programs.

The parties agree to confer on the speci?c academic program(s) to receive
the contributions referenced herein, with the University agreeing not to apply those
contributions to an academic program over the objection of the Contributor.

2. Continuation of the Agreement. All other terms and representations contained in
the Agreement and the amendments thereto remain unchanged and in full force and effect,
including but not limited to the amendments referenced in Paragraph 3 of the Second Amendment
to Agreement.

 

 

In Witness Whereof, the parties have executed this Amendment as of the day and year

?rst above written.
JAM

. atter
(?Cont or 

University of Louisville

A Aow? 

Title:

 

(?University?)