UA-R-GC-1914-01-01-1961-11-18_Page-074

, I Dr. Amir Boktor President McLain November II, 1961 My dear Or. Boktor: Following are the facts, as I see them (having checked them with our legal counsel) bearing upon the financial provi s ions in connection with your retirement from this University. I) At the end of this fiscal year, 1961, you will have been with the University for forty-one years. 2) The University is obligated to meet the conditions of the retirement laws of Egypt having to do with indemnity. Without going into detail in connection with this law it is sufficient here to state the the University will be~ paying through the government (a small portion of this has already been paid) a total of LE.3674 covering a period of 20 years and 147 days. The number of months stands for an equivalence of 20 years. 3) The above is our legal obligation. The Board has indicated, however, that it wishes to go beyond the legal obligations in the matter of your retirement. I shall, therefore, suggest to the Board in its November meet ,lng that the University obligate itself to pay you and/or your wife an amOunt equal to $10,513.48. This amount stands for the remaining period of your sevice with the University calculated on the basis of one month per year over and above the period required by the law. 4) This amount will be placed to your credit in dollars in a fund set aside specifically for this purpose and when you are ready to ask for the first payment a determination will then be made of the amount and number of payments with you and the University agreeing. 5) If you are in Egypt at the time the payments will be made in Egyptian pounds at the rate of exchange then prevailing. If you should have left Egypt the payments will be made at the rate of exchange prevailing at that time at the country where you are staying. Upon my return from the Board meeting in mid-November I will let you know the reaction of the Board. cc: Mr. Charles Lewis Miss Anne Lister Or. Edward Dirks As ever yours, Sgnd. Raymond F. McLai