PSI ALPHA SCHOLARSHIP FOUNDATION

THE PURPOSES FOR WHICH THIS CORPORATION IS INCORPORATED ARE THOSE SET FORTH IN THE ARTICLES OF INCORPORATION. SPECIFICALLY, THE CORPORATION WAS FORMED FOR THE EXPRESS PURPOSE OF PROVIDING SCHOLARSHIPS TO HIGH-SCHOOL SENIORS, AND WHEN APPROPRIATE, TO PROVIDE SUPPLEMENTARY SCHOLARSHIPS FOR THESE INDIVIDUALS THROUGHOUT THEIR COLLEGE CAREER. THESE SCHOLARSHIPS WILL BE AWARDED DIRECTLY TO INDIVIDUALS AS A RESULT OF SAID INDIVIDUALS MEETING A SET OF CRITERIA PRE-ESTABLISHED BY THE CORPORATION. AS AN ALTERNATIVE, THE CORPORATION MAY CONDUCT AN ACADEMIC OR AN ACADEMIC/TALENT COMPETITION OR A SERIES OF COMPETITIONS TO DETERMINE THE RECIPIENT OF A SCHOLARSHIP. THESE COMPETITIONS AND THEIR ASSOCIATED PUBLICITY WILL SERVE TO INSTILL IN THE PARTICIPANTS AND THEIR PEER GROUPS THE IMPORTANCE OF AND THE BENEFITS WHICH CAN BE DERIVED FROM ACADEMIC EXCELLENCE. ON OCCASION, SCHOLARSHIP FUNDS WILL BE DONATED TO AND ADMINISTERED BY AN ORGANIZATION WHICH USES SIMILAR CRITERIA TO SELECT THE RECIPIENTS OF ITS