June 2, 2003

Dear Faculty and Staff:

This is a reminder that the deadline for taking advantage of the
University's Voluntary Separation Incentive Plan is Friday, June 6, 2003.
Applications received after 5 p.m. on that date will not be considered.

The Incentive Plan is available to all regular University of Tennessee
employees (except for those leased by University Health System, Inc.) who
have 20 years of continuous service with the University, providing their
salaries are paid from unrestricted accounts. The incentive payment is
$5,000 (prorated based upon the employee's percentage of full-time effort)
plus an amount equal to the employee's FY 2004 longevity payment. The
maximum incentive payment is $7,500.

Please contact the Office of Human Resources if you have any questions
about this opportunity. As well, information about the incentive plan is
available on the web at http://finance.admin.tennessee.edu

The last workday for employees taking part in the incentive plan will be on
or before June 30, 2003. In addition to filing an application, please
notify your department head that you are taking advantage of this
opportunity. Also, if you are retiring from the University, you will need
to call the Office of Benefits and Retirement Services at 865-974-4341.

Cordially,

John W. Shumaker
President