Registration Nos. 2-98326
811-4323
EXHIBIT
EX-99.9(F):
ORGANIZATIONAL EXPENSE REIMBURSEMENT AGREEMENT BETWEEN THE REGISTRANT, ON BEHALF
OF ITS NEW ENGLAND CAPITAL GROWTH FUND AND TNE INVESTMENT SERVICES CORPORATION
ORGANIZATIONAL EXPENSE
REIMBURSEMENT AGREEMENT
This Agreement, made as of this 31st day of August, 1992, by and
between The New England Funds, a Massachusetts business trust (the "Trust"), on
behalf of its TNE Capital Growth Fund series (the "Series") and TNE Investment
Services Corporation, a Massachusetts corporation (the "Distributor").
WITNESSETH
WHEREAS, the Trust is registered as an open-end management investment
company under the Investment Company Act of 1940 and was and is in the process
of organizing the Series;
WHEREAS, there have been and will be certain organizational expenses
incurred as a part of such organization, which are properly expenses of the
Series, that have been and will in the future be paid by the Distributor by
reason of the fact that the Series was not or will not be capitalized when such
expenses otherwise became or become due and payable;
WHEREAS, such organizational expenses include expenses necessary to
organize and establish the Series as a separate series of the Trust and to
create the necessary relationships and legal qualifications to enable it to
commence business and operations, including, but not by way of limitation, such
expenses as outside legal counsel's fees, fees and taxes imposed by The
Commonwealth of Massachusetts on Massachusetts business trusts, independent
public accountant fees and state blue sky filing and registration fees (such
expenses being hereinafter referred to as "Organization Expenses"):
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, it is agreed as follows:
1. Upon the issuance and sale of shares of beneficial interest of the
Series to the public, the Series shall reimburse and pay to the Distributor up
to $200,000 of the amounts expended by the Distributor for Organization Expenses
for the Series.
2. Such reimbursement shall be paid by the Series to the Distributor
upon demand, without interest, and in no event later than five years from the
commencement of operations of the Series. Upon demand for payment, the
Distributor shall present copies of invoices or receipts, and copies of
cancelled checks or other evidence of payment by the Distributor, of the
Organization Expenses for which it is demanding reimbursement.
The New England Funds, on
behalf of its TNE
Capital Growth Fund
/s/XXXXX X. X. XXXXXXXXX
------------------------
Xxxxx X. X. Xxxxxxxxx
President
TNE Investment Services
Corporation
/s/XXXXX X. XXXXX
------------------------
Xxxxx X. Xxxxx
Senior Vice President
A copy of the Agreement and Declaration of Trust establishing The New
England Funds is on file with the Secretary of The Commonwealth of
Massachusetts, and notice is hereby given that this Agreement is executed on
behalf of the Trust by officers of the Trust as officers and not individually
and that the obligations of or arising out of this Agreement are not binding
upon any of the trustees, officers or shareholders individually but are binding
only upon the assets and property of the Series.
