Exhibit (h)(9)
Expense Reimbursement Agreement
for the Citizens Value Fund
Exhibit (h)(9)
Citizens Advisers, Inc.
September 24, 2001
Citizens Funds
000 Xxxxxxxx Xxx, Xxxxx 000
Xxxxxxxxxx, XX 00000
Ladies and Gentlemen:
As you know, we and certain of our affiliates currently provide advisory,
administrative, distribution, and other services to the several series of
Citizens Funds (the "Trust"). We hereby agree with the Trust that for the
Standard shares of the Citizens Value Fund, we will reimburse that series for
all expenses (other than Excluded Expenses, as defined below) payable by that
series for such class described in the Trust's Registration Statement on Form
N-1A, as filed with the Securities and Exchange Commission and as in effect from
time to time, to the extent necessary so that the series' aggregate expenses for
such class, net of waivers, would not exceed on a per annum basis 1.95%.
Reimbursement of the Citizens Value Fund's expenses will be made at least
annually or at such other times as may be mutually agreed upon between the Trust
and Citizens Advisers, Inc. Excluded Expenses means (a) taxes, (b) interest, (c)
brokerage commissions, and (d) extraordinary expenses, such as litigation.
The agreements in this letter shall take effect on the date hereof, and shall
remain in effect as to the Citizens Value Fund until June 30, 2002. Please sign
below to confirm your agreement with the terms of this letter.
Sincerely,
Citizens Advisers, Inc.
By: Xxxx X. Xxxxxxx
--------------------------------
Xxxx X. Xxxxxxx
President and Chief Executive Officer
Agreed:
Citizens Funds
By: Xxxx X. Xxxxxxx
--------------------------------
Xxxx X. Xxxxxxx
President
