DECLARATION OF TRUST

LARRY KNIGHT PERPETUAL TROPHY

(Adopted June 7, 1965- Amended October 5,1981, December l5, 1986, November l5, 1993)

THIS DECLARATION OF TRUST executed this day by the PACIFIC INTER-CLUB YACHT ASSOCIATION, a California nonprofit corporation,

FIRST: The undersigned desiring to encourage good fellowship and competitive spirit among its members, in 1965 established a sailboat racing trophy to be known as LARRY KNIGHT PERPETUAL TROPHY. This trophy shall be represented by a perpetual trophy and such keeper or annual trophies as may be selected by Trustee.

SECOND: Title to the perpetual trophy shall be retained by undersigned as trustee and, when awarded to a club, may remain till its possession until such time as trustee has designated for its return. At that time it must be delivered to an officer or proper representative of the undersigned.

THIRD: This trophy shall be awarded to the winner of a race between sailing yachts belonging to members of clubs belonging to the undersigned, conducted in accordance with the following:

1) Races for this cup shall be under the jurisdiction of a Regatta Coordinator appointed by Pacific Inter-Club Yacht Association Board of directors. The Race Committee Chair and Regatta Coordinator, all from PICYA member clubs. The decisions of the Race Committee shall be final, except for appeals from decisions on protest or requests for redress.

2) Said sailboats (no more than one from, each club) shall have belonged to or been chartered by a club member more than thirty (30) days prior to the race.

3) The helmsperson and tactician of each yacht shall be properly enrolled members of the sponsoring club under its customary membership procedure; however, the other members of the crew do not need to be members of the sponsoring club. The primary purpose of such enrollment shall have been other than participation in this contest. In the event a boat is chartered, the owner or representative may be on board, but shall act only as observer.

4) The race or races shall be conducted on San Francisco Bay at a time between June 15^th and September 3O^th. The dates shall be set by the PICYA Regatta Coordinator. The course or courses will be set by the Race Committee. In the event of cancellation, postponement or abandonment of the race, it may be rescheduled by the Regatta Coordinator provided it can be done by September 30.

5) To participate a boat must have a PHRF rating as established by the Handicap Committee of the YRA of San Francisco Bay. The rating limits shall be specified by the Race Committee at the March meeting of the delegates of PICYA.

6) A notice of Regatta and entry forms will be sent by the Secretary of PICYA to member clubs. The boat name and Helmsperson are to be declared on the entry form. A copy of the valid PHRF rating certificate must be supplied to the Race Committee prior to the race together with a list of crew.

7) The race or races shall be conducted on a handicap basis.

IN WITNESS WHEREOF, the PACIFIC INTER-CLUB YACHT ASSOCIATION has executed these presents this 4th day of October 1965.

RECORD OF WINNERS

TEAM RACES