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The Martin S. Wallach Awards for outstanding performance in clinical psychology are given annually to two students at the University of North Carolina at Chapel Hill. One award is given to the outstanding Ph.D. candidate in Clinical Psychology in the Department of Psychology. The other award is given to the Clinical Psychology Intern in the Department of Psychiatry who best represents the qualities of Dr. Wallach. These awards are given in memory of the late Martin S. Wallach and are made possible through a Trust Fund established by his family and friends. Dr. Wallach, at the time of his death in May, l965, was an Associate Professor in the Departments of Psychiatry and Psychology at UNC Chapel Hill. 

The individuals receiving the Wallach Award have displayed significant progress toward excellence as a scientist-practitioner. This includes an appreciation of the empirical basis of psychological work (including diagnosis, treatment, consultation) in the chosen area of clinical practice; demonstrated strengths in written and oral expression; and high ethical standards. Additionally, the recipients demonstrate the thoughtful style, conscientiousness, genuine care and respect for clients and colleagues, and advocacy for the needs of underserved populations, which characterized Dr. Martin Wallach.