EXHIBIT 13
SUBSCRIPTION AGREEMENT
Brandywine Blue Fund, Inc.
0000 Xxxxxxx Xxxx
Xxxxxxxxxx, Xxxxxxxx 00000
Gentlemen:
The undersigned hereby subscribes to 10,000 shares of the Common
Stock, $.01 par value per share, of Brandywine Blue Fund, Inc., in
consideration for which the undersigned agrees to transfer to you upon
demand cash in the amount of $100,000.
It is understood that a certificate or certificates representing
the shares subscribed for shall be issued to the undersigned upon request
at any time after receipt by you of payment therefor, and that said shares
shall be deemed to be fully paid and nonassessable.
The undersigned agrees that the shares are being purchased for
investment with no present intention of reselling or redeeming said
shares.
Dated and effective as of this 20th day of December, 1990.
XXXXXX ASSOCIATES, INC.
By: _________________________________
Xxxxxx X. Xxxxxx, President
Attest: ___________________________
Xxxxxxx Xxxxxx, Secretary
ACCEPTANCE
The foregoing subscription is hereby accepted. Dated and
effective as of this 20th day of December, 1990.
By: _________________________________
Xxxxxx X. Xxxxxx, President
(CORPORATE SEAL)
Attest: ___________________________
Xxxxx X. Xxxxxx, Secretary
