DEED OF GIFT

THE ADMIRAL'S CUP

(formerly the Commodore Cup)

(adopted April 21, 1997; amended April 19, 1999)

The PACIFIC INTER-CLUB YACHT ASSOCIATION, having received a donation of a trophy from Edie Penton and Arthur Eggers who wish to encourage the competition at the Pacific Inter-Club Yacht Association annual regatta for keelboats, hereby designates this as a perpetual trophy to be presented under the following conditions:

1. The trophy shall be known as the ADMIRAL'S CUP.

2. Title to the trophy shall be retained by the Pacific Inter-Club Yacht Association, and when awarded to a club, it may stay in that club's possession until such time as has been designated for it's return. At that time it must be delivered to an officer or proper representative of PICYA.

3. The trophy shall be presented to the yacht club placing first in the competition for the ADMIRALS CUP at the annual PICYA regatta for keelboats.

4. This deed of gift may be amended by the Board of Directors of PICYA.

Pacific Inter-Club Yacht Association

by Joan Marsh Clune, President

Attest: Ria Donald, Secretary

Dated April 21, 1997

RECORD OF WINNERS