1
Exhibit (c)(1)
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NUMBER [GRAPHIC] SHARES
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THE EXPLORER INSTITUTIONAL ENHANCED BENCHMARK FUND
A SUB-TRUST OF THE EXPLORER INSTITUTIONAL TRUST, A MASSACHUSETTS BUSINESS TRUST
CERTIFICATE OF SHARES OF BENEFICIAL INTEREST
THIS CERTIFIES that is the owner of
*SEE REVERSE FOR CERTAIN DEFINITIONS
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CUSIP
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Shares of beneficial interest in The Explorer Institutional Enhanced Benchmark
Fund (the "Fund"), a sub-trust of The Explorer Institutional Trust, a
Massachusetts business trust (the "Trust") formed pursuant to an Agreement and
Declaration of Trust dated October __, 1994, transferable only on the books of
the Trust by the owner in person or by duly authorized attorney upon surrender
of this Certificate properly endorsed. This certificate is not valid unless
countersigned by the Transfer Agent.
IN WITNESS WHEREOF, the said Trust has caused this Certificate to be
signed by its duly authorized officers and the Fund's seal to be hereunder
affixed
DATED:
[MASSACHUSETTS
SEAL
SUB-TRUST]
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SECRETARY PRESIDENT
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2
This Certificate and the shares of beneficial interest represented
hereby are issued and shall be held subject to all the provisions of the
Agreement and Declaration of Trust dated October __ 1994, and By-Laws of the
Trust, and all amendments thereto, to all of which the holder by acceptance
hereof assents. Reference is made to the Agreement and Declaration of Trust and
By-Laws of the Trust and all amendments thereto, for a description of the rights
and obligations of the Trust, and its shareholders. The Trust will furnish to
the shareholder, without charge and upon written request made to the Transfer
Agent, a copy of the Agreement and Declaration of Trust.
The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:
TEN COM - as tenants in common UNIFORM GIFT MIN ACT -____ Custodian____
TEN ENT - as tenants by the entireties (Cust) (Minor)
JT TEN - as joint tenants with right of
survivorship and not as tenants
in common under Uniform Gifts to Minors
Act_______________________
(State)
Additional abbreviations may also be used though not in the above
list.
FOR VALUE RECEIVED. I/We hereby sell, assign and transfer unto
PLEASE INSERT SOCIAL SECURITY OR OTHER TAXPAYER
IDENTIFICATION NUMBER OF ASSIGNEE
[ ]
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PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE OF ASSIGNEE
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Shares of the beneficial interest represented by the within Certificate, and do
hereby irrevocably constitute and appoint_______________________________________
____________________________________________attorney to transfer the said Shares
on the books of the within named Massachusetts business trust with full power of
substitution in the premises.
Dated
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Signature(s)
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SIGNATURE GUARANTEED BY
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