LARSON MEMORIAL SCHOLARSHIP PROGRAM

A Tribute
The Larson Memorial Scholarship Program has been established in memory and in
honor of Oscar Larson, the founder of the Larson Manufacturing Company.

The Program is meant to encourage the children of Larson employees to continue

their education after high school. This same encouragement was continuously
expressed by Oscar throughout his lifetime. It is felt that this program will help to
perpetuate Oscar’s message.

The Program and its Purpose

Larson Manufacturing Company established the Larson Memorial Scholarship
Program to reward the academic excellence and/or the demonstrated potential of
children of its employees.

The program provides renewable scholarship awards to assist with the tuition and
expenses of pursuing post-high school education in undergraduate courses at
accredited colleges, universities or other approved institutions of higher learning,
including technical and vocational schools.

Administration of the Program

The Brooking Foundation, a non-profit, tax-exempt service organization located in
Brookings, South Dakota, independently administrates the program.

Conditions of Eligibility
Natural or adopted children of permanent, full-time employees working for Larson
Manufacturing Company are eligible to participate in the program, providing:
· Employees have had two or more years of continuous service prior to the
application date (April 30).
· Applicants are seniors in high school; those already enrolled in post-high
school education; or those accepted in post-high school educational
institutions even though they have had a break between high school and
acceptance.
· Applicants have applied for scholarships prior to the final year of post
secondary educational programs.
Stepchildren residing with a permanent full-time employee of Larson are eligible
to participate, provided they meet all qualifications listed above.

Application Procedure
To apply for a Larson Memorial Scholarship the application should be completed
and returned to the Brookings Foundation, accompanied by an official transcript,
or an official transcript of post secondary grades. All these materials must be
submitted and postmarked no later than April 30. The applicant is solely
responsible for providing all the information that is necessary for the selection
process. The Brookings Foundation reserves the right not to process applications
found to be incomplete as of the application deadline.

Information received throughout the application process will be treated with the
utmost confidentiality. All academic and financial data is available only to the staff
members of the Brookings Foundation.

The Responsibilities of the Student

Applicants to the Larson Memorial Scholarship Program should remember that it is
their responsibility to gather and submit the information necessary for the
Brookings Foundation to select the Larson Memorial Scholarship recipients as
described in this document.

The Selection Process

The Brookings Foundation has total responsibility for selecting the scholarship
winners, basing its decision on the applicants’ potential and desire to succeed in the
chosen educational program; and the applicants’ record in school, community
activities, and work experience.

The application information is the Brookings Foundation’s only means of judging

the applicants’ qualifications in each of these areas. Every effort should be made to
answer each question as fully as possible, providing all the information the
applicant believes to be of value in the judging process.

The number of awards is based upon the Foundation’s selection procedures and the
funds available from the Larson Memorial Program Fund. Not all applicants will
receive awards. The recipients and their respective awards will be chosen by the
Brookings Foundation and will be announced by June 15.

Scholarship Awards and Bonus Program

Applicants may receive one of the following forms of assistance. As stated above,
not all applicants will receive the scholarship award but their parent may receive a
bonus. The scholarship award will be paid to the School and the bonus will be
paid to the parent through payroll. Scholarships and Bonus’ will range from
$1,000 to $3,600. Awards or Bonus’ may be used for tuition and academic fees,
for one year of full-time study in accredited post-high school education programs.

All awards are made without regard to race, color, sex, religion, sexual preference,
disability or national origin.
Announcement and Distribution of the Awards
All applicants will be notified regarding their recipient or no-recipient status by
June 15 of the year in which the applied. The awards will be distributed in equal
installments according to the tuition payment schedule of the individual institution.

The Renewal of Rewards

Renewals are not automatically awarded. A student must submit an application
each year and a copy of his or her transcript for the academic year. A scholarship
will not be renewed if the parent terminates employment with the company.
However, any scholarship awarded will remain valid for the current school year.

Awards are renewable annually for up to five years of specific courses of study or
until certificates, diplomas or undergraduate degrees are awarded, whichever
comes first.

In January of each year, the Brookings Foundation will send a reminder that the
renewal forms need to be completed. Completed forms along with official
transcript for the term just completed must be returned to the foundation before
April 30. The criteria for the original selection of awards shall not be interpreted
as preventing a change in educational institution, choice of career, or choice of
study.

About Obligations
Larson Manufacturing Company will impose no obligations of any kind upon
Larson Memorial Scholarship recipient.

Further, Larson Manufacturing Company assumes no obligation in connection with

the granting of the awards. However, Larson Manufacturing Company reserves the
right to alter or discontinue the Larson Memorial Scholarship Program at any time.
Once an award is granted, it will be continued for the school calendar year as long
as the student meets the requirements outlined.

For Additional Information

Questions regarding any aspect of the Larson Memorial Scholarship Program
should be addressed to:

The Brookings Foundation

Larson Memorial Scholarship Program
P.O. Box 5057
Brookings, SD 57006