CHARTER OF THE SCHOLARSHIP COMMITTEE OF ACFE FOUNDATION

I.                   Purpose of the Committee

The Purpose of the Scholarship Committee (“the Committee”) is to advise the Board of Directors of ACFE Foundation on the awarding of scholarships. In furtherance of this purpose, the Committee shall have the following duties and responsibilities:

·                       •  Review all scholarship applications received by ACFE Foundation;

·                       •  Issue written reports to the Board of Directors as required, recommending qualified candidates to receive scholarships;

·                       •  Advise the Board of Directors in establishing and modifying scholarship criteria and other elements of the scholarship program;

·                       •  Assume such other functions as deemed necessary by the Board of Directors.

II.                Organization

The Committee is organized as a Regular Committee under the ACFE Foundation Bylaws (“the Bylaws”), meaning it shall not have or exercise the authority of the Board of Directors in the Management of ACFE Foundation. The Committee shall function under the direction of the Board of Directors and in accordance with the Bylaws. Should a conflict arise between this charter and the Bylaws, the Bylaws shall control.

The Committee shall be composed of no fewer than three and no more than seven members.  Members of the committee, including the Chair and vice-Chair, shall be selected and appointed by the Board of Directors.

Members of the Committee shall serve staggered three-year terms, with one third of the members rotating off each year. The Board may assign the initial members of the Committee terms of more or less than three years as it sees fit in order to create a staggered system of committee terms. Each member of the Committee shall continue to serve on the Committee until a successor is appointed or the Committee is terminated.

III.             Meetings

The attendance by a majority of the members of the Committee shall constitute a quorum for the transaction of Committee business. No action may be approved by the Committee without the vote of at least a majority of the number of Committee members required to constitute a quorum.

The Committee will meet at least twice a year, and may conduct additional meetings as necessary. The Committee Chair shall give reasonable notice to all Committee members of the place, day, time and purpose or purposes for any Committee meeting. Meetings may be conducted in person or by conference call. The Chair shall call and preside at all meetings, and be responsible for ensuring that minutes are recorded and distributed to Committee members and to the Board of Directors. When the Chair is absent, unable to act, or refuses to act, the vice-Chair shall perform the duties of the Chair.

IV.             Rules

The Committee may adopt rules for its own operation not inconsistent with the Bylaws or with rules adopted by the Board of Directors.