SUBSCRIPTION AGREEMENT
THIS AGREEMENT by and between Xxxxxx X. Xxxxxxx ("Xxxxxxx"), a citizen and
resident of the State of Georgia and the PMFM Investment Trust ("Trust"), a
statutory trust organized and existing under and by virtue of the laws of the
State of Delaware.
In consideration of the mutual promises set forth herein, the parties agree as
follows:
1. The Trust agrees to sell to Xxxxxxx and Xxxxxxx hereby subscribes to
purchase 10,000 shares ("Shares") of beneficial interest of PMFM ETF Portfolio
Trust, a series of the Trust, with a par value of $0.001 per Share, at a price
of ten dollars ($10.00) per each Share.
2. Xxxxxxx agrees to pay $100,000 for all such Shares at the time of their
issuance, which shall occur upon call of the President of the Trust, at any time
on or before the effective date of the Trust's Registration Statement filed by
the Trust on Form N-1A with the Securities and Exchange Commission
("Registration Statement").
3. Xxxxxxx acknowledges that the Shares to be purchased hereunder have not
been registered under the federal securities laws and that, therefore, the Trust
is relying on certain exemptions from such registration requirements, including
exemptions dependent on the intent of the undersigned in acquiring the Shares.
Xxxxxxx also understands that any resale of the Shares, or any part thereof, may
be subject to restrictions under the federal securities laws, and that Xxxxxxx
may be required to bear the economic risk of any investment in the Shares for an
indefinite period of time.
4. Xxxxxxx represents and warrants that he is acquiring the Shares solely
for his own account and solely for investment purposes and not with a view to
the resale or disposition of all or any part thereof, and that he has no present
plan or intention to sell or otherwise dispose of the Shares or any part thereof
at any time in the near future.
5. Xxxxxxx agrees that he will not sell or dispose of the Shares or any
part thereof, except to the Trust itself, unless the Registration Statement with
respect to such Shares is then in effect under the Securities Act of 1933, as
amended.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their
duly authorized representatives this 20th day of June, 2003.
By: /s/ Xxxxxx X. Xxxxxxx
________________________
Xxxxxx X. Xxxxxxx
PMFM Investment Trust
By: /s/ Xxxxxxx X. Xxxxxxx
_________________________
Xxxxxxx X. Xxxxxxx
Title: President
