THE PIONEER GROUP, INC.
PRINCIPAL UNDERWRITER FOR 00 XXXXX XXXXXX
PIONEER FUND, INC. BOSTON, MASSACHUSETTS 02109
PIONEER II, INC. TELEPHONE 000-000-0000
PIONEER BOND FUND, INC.
DEALER'S SALES AGREEMENT
United Services Planning Association Inc.
Box 2387
Fort Worth, TX 76113 Dated August 1, 1979
Gentlemen:
We have entered into an underwriting contract with PIONEER FUND. INC.,
PIONEER II, INC. and PIONEER BOND FUND, INC, whereby we will act as Principal
Underwriter, as defined in the Investment Company Act of 1940, with the right
to purchase shares of Capital Stock of PIONEER FUND, INC., PIONEER II, INC,
and PIONEER BOND FUND, INC, for sale of such shares to investors either
directly or indirectly through other broker-dealers. As Principal we offer to
sell to you shares of the above funds (the "Funds") subject to the following
conditions:
1. In all sales of shares to the public you shall act as dealer for
your own account.
2. On purchases of shares, you shall receive a discount amounting to a
percentage of the applicable public offering price which varies with the size
and nature of each such purchase as follows:
TOTAL AMOUNT OF DEALER DISCOUNT
SIMULTANEOUS PURCHASE OR SALES ON SINGLE
HOLDINGS AFTER PURCHASE CHARGE TRANSACTIONS
------------------------ ------ ----------------
Less than $10,000 8.5% 7.0%
$ 10,000 or more but less than $ 25,000 7.75 6.25
$ 25,000 or more but less than $ 50,000 6.0 5.0
$ 50,000 or more but less than $100,000 4.5 4.0
$100,000 or more but less than $250,000 3.5 3.0
$250,000 or more but less than $400,000 2.5 2.25
$400,000 or more but less than $600,000 2.0 1.75
$600,000 or more 1.0 0.75
For Pioneer Fund, Inc., the sales charge is reduced to .25 of 1% on
purchases of $5,000,000 or more by accounts subject to the Employee
Retirement Income Security Act of 1974 ("ERISA Accounts"). Commissions are
reallowed to dealers on sales of $5,000,000 or more to ERISA accounts at a
rate of .20 of 1%).
In the case of a Pioneer Investing Account, a charge of $1 will be made
for each monthly commission check. No commission check will be issued for
less than $1.
For purposes of the above, the term "single transaction" shall also be
applied to all purchases of shares of the Funds either alone or jointly
(either directly or through Pioneer Investment Plans for the Accumulation of
shares of Pioneer Fund, Inc.) made by you or the investor to cover orders
from any one investor within any one period of thirteen months if his
purchases plus any credit under the "right of accumulation" within that
period aggregate $10,000 or more, provided that the investor has on file with
you and the Principal Underwriter a "Letter of Intention" stating that he
intends within thirteen months to make purchases which when added to any
credit under the "right of accumulation" total at least $10,000, and further
provided that the shares so purchased are still owned by the investor at the
end of the thirteen month period.
The foregoing scale of quantity discounts shall also apply to current
purchases of shares of the Funds, either alone or jointly, where the
aggregate quantity of such shares previously purchased or acquired (either
directly or through Pioneer Investment Plans for the Accumulation of shares
of Pioneer Fund, Inc.) and then owned by any one investor, determined a
current offering price, plus shares being purchased amounts to more than
$10,000 provided you or the investor give written notice to us each time such
a purchase is made which would so qualify.
As used in Section 2 hereof, the term "any one investor" includes (i) an
individual, (ii) an individual, his spouse and their children under the age
of twenty-one, purchasing securities for his or their own account, (iii) a
trustee or other fiduciary purchasing securities for a single trust estate,
or single fiduciary account including pension, profit sharing and other
employee benefit trusts qualified under Section 401 of the Internal Revenue
Code, although more than one beneficiary is involved, and (iv) for purposes
of investing in individual retirement accounts, the employees of a single
employer or the members of a single union.
3. You represent that you are, and at the time of purchasing any
shares of the Funds will be, a member in good standing of the National
Association of Securities Dealers, Inc.
4. Orders received from you will be accepted by us only at the public
offering price applicable to each order as established by the then current
prospectus of the applicable Fund. The procedure relating to handling orders
shall be subject to instructions which we shall forward you from time to
time. All orders are subject to acceptance or rejection by us in our sole
discretion.
5. You agree to purchase shares only from us or from your customers.
If you purchase shares from us, you agree that all such purchases shall be
made only to cover orders already received by you from your customers, or for
your own bona fide investment. If you purchase shares from your customers,
you agree to pay such customers not less than the redemption price in effect
on the date of purchase, as defined in the Prospectus of the applicable Fund,
We in turn agree that we will not purchase any shares from the issuer except
for the purpose of covering purchase orders which we have already received.
6. You shall sell shares only (a) to customers at the public offering
price then in effect (b) to the issuer, or to any dealer who is a member of
the National Association of Securities Dealers, Inc. at the redemption price
in effect on the date of sale.
7. We will only accept from you unconditional orders for shares at a
definite specified price.
8. If any shares sold to you under the terms of this agreement are
repurchased by the issuer or are tendered for redemption within seven
business days after the date of our confirmation, it is agreed that you shall
forfeit your right to any discount received by you on such shares.
9. Remittance of the net amount due for shares purchased from us shall
be made payable to The First National Bank of Boston, Agent for the
Underwriter, in New York or Boston funds within seven days of our
confirmation of sale to you. Such payment should be sent, together with stock
transfer stamps required on account of the sale by you, to The First National
Bank of Boston, Mutual Funds Division, Box 1473, Boston, Massachusetts 02104,
with your transfer instructions on the appropriate copy of our confirmation
of sale to you. If such payment is not received by the Bank, we reserve the
right, without notice, forthwith to cancel the sale.
10. Promptly upon receipt of payment, shares sold to you shall be
deposited by us or by our agent, The First National Bank of Boston, in a
Pioneer Investing Account. No certificates will be issued unless specifically
requested.
11. No person is authorized to make any representations concerning
shares of the Funds except those contained in the current Prospectus for each
of the Funds and in supplements thereto. In purchasing shares from us you
shall rely solely on the representations contained in the Prospectus for each
of the Funds and supplements thereto.
12. Additional copies of the current Prospectus and supplements thereto
and other literature will be supplied by us in reasonable quantities upon
request.
13. We reserve the right in our discretion, without notice, to suspend
sales or withdraw the offering of shares entirely or to modify or cancel this
agreement.
14. We both hereby agree to abide by the Rules of Fair Practice of the
National Association of Securities Dealers, Inc.
15. All communications to us should be sent to the above address. Any
notice to you shall be duly given, if mailed or telegraphed to you at your
address specified above. This agreement shall be construed in accordance with
the laws of Massachusetts.
THE PIONEER GROUP, INC.
By /s/ [Illegible]
--------------------------------------
The undersigned hereby accepts the offer set forth in the above letter.
Firm United Services Planning Association Inc.
----------------------------------------------
By /s/ [Illegible]
--------------------------------------
Authorized Representative
(RETAIN ONE COPY AND RETURN THE OTHER)
FUND RESEARCH AND MANAGEMENT, INC.
Principal Underwriter for 00 Xxxxx Xxxxxx
Xxxxxxx Xxxx, Xxx, Xxxxxx, Xxxxxxxxxxxxx 00000
Pioneer II, Inc. Telephone 000-000-0000
Pioneer Bond Fund, Inc.
Pioneer Investment Plans for the
Accumulation of Shares of Pioneer Fund. Inc.
DEALER'S SALES AGREEMENT
Gentlemen:
We have entered into an underwriting contract with PIONEER BOND FUND,
INC. (the "Fund") whereby we will act as Principal Underwriter, as defined in
the Investment Company Act of 1940, with the right to purchase shares of
Common Stock of the Fund for sale of such shares to investors either directly
or indirectly through other broker-dealers. As Principal, we offer to sell to
you shares of the Fund subject to the following conditions:
1. In all sales of shares to the public, you shall act as dealer for
your own account.
2. During the Initial Offering Period (defined below), you shall
receive a discount amounting to a percentage of the applicable public
offering price which varies with the size and nature of each such purchase as
follows:
TOTAL AMOUNT OF DEALER DISCOUNT CONTRIBUTION
SIMULTANEOUS PURCHASE OR SALES ON SINGLE TO THE
HOLDING, AFTER PURCHASE CHARGE TRANSACTIONS INCENTIVE FUND
------------------------ ------ --------------- --------------
Less than $10,000 . . . . . . . . . 7.0% 6.2% .8%
$ 10,000 or more but Less than
$25,000. . . . . . . . . . . . . . 6.25 5.5 .75
$ 25,000 or more but Less than
$50,000. . . . . . . . . . . . . . 5.0 4.4 .6
$ 50,000 or more but Less than
$100,000 . . . . . . . . . . . . . 4.0 3.5 .5
$100,000 or more but Less than
$250,000 . . . . . . . . . . . . . 3.0 2.6 .4
$250,000 or more but Less than
$400,000 . . . . . . . . . . . . . 2.25 1.9 .35
$400,000 or more but Less than
$600,000 . . . . . . . . . . . . . 1.75 1.5 .25
$600,000 or more. . . . . . . . . . 0.75 0.6 .15
If, during the Initial Offering Period, you sell to the public shares
with an aggregate current offering price in excess of $200,000, then you and
other dealers selling in excess of $200,000 shall share, on a pro rata basis
reflecting relative sales, in a fund comprised of the aggregate sales charges
on all sales of shares of the Fund during the Initial Offering Period less
the aggregate dealer discounts on such sales (the "Incentive Fund").
The Initial Offering Period shall refer to the period commencing on the
date on which the prospectus of the Fund becomes effective and ending sixty
(60) days thereafter, unless such period is extended by written notice to you
from the Principal Underwriter.
3. On purchases of shares after the Initial Offering Period, you shall
receive a discount amounting to a percentage of the applicable public
offering price which varies with the size and nature of each such purchase as
follows:
TOTAL AMOUNT OF DEALER DISCOUNT
SIMULTANEOUS PURCHASE OR SALES ON SINGLE
HOLDING AFTER PURCHASE CHARGE TRANSACTIONS
------------------------ ------ ---------------
Less than $10,000 . . . . . . . . . . . . . . 8.5 % 7.0 %
$10,000 or more but Less than $25,000 . . . . 7.75 6.25
$25,000 or more but Less than $50,000 . . . . 6.0 5.0
$50,000 or more but Less than $100,000. . . . 4.5 4.0
$100,000 or more but Less than $250,000 . . . 3,5 3.0
$250,000 or more but Less than $400,000 . . . 2.5 2.25
$400,000 or more but Less than $600,000 . . . 2.0 1.75
$600,000 or more. . . . . . . . . . . . . . . 1.0 0.75
4. In the case of a Pioneer Investing Account, a charge of $1 will be
made for each monthly commission check. No commission check will be issued
for less than $1.
For purposes of the above, the term "single transaction" shall also be
applied to all purchases of shares of the Fund, Pioneer II, Inc. and Pioneer
Fund, Inc. (collectively, the "Funds") either alone or jointly (either
directly or through Pioneer Investment Plans for the Accumulation of shares
of Pioneer Fund, Inc.) made by you or the investor to cover orders from any
one investor within any one period of thirteen months commencing after the
Initial Offering Period if his purchases, plus any credit under the "right of
accumulation" within that period, aggregate $10,000 or more, provided that
the investor has on file with you and the Principal Underwriter a "Letter of
Intention" stating that he intends, within thirteen months. to make purchases
which, when added to any credit under the "right of accumulation," total at
least $10,000, and further provided that the shares so purchased are still
owned by the investor at the end of the thirteen-month period.
The foregoing scales of quantity discounts shall also apply to current
purchases of shares of the Funds, either alone or jointly, where the
aggregate quantity of such shares previously purchased or acquired (either
directly or through Pioneer Investment Plans for the Accumulation of shares
of Pioneer Fund, Inc,) and then owned by any one investor, determined at
current offering price, plus shares being purchased amounts to more than
$10,000 provided you or the investor give written notice to us each time such
a purchase is made which would so qualify.
As used herein, the term "any one investor" includes (i) an individual,
(ii) an individual, his spouse and theft children under the age of twenty-one
purchasing securities for his or their own account, (iii) a trustee or other
fiduciary purchasing securities for a single trust estate or single fiduciary
account, including pension, profit sharing and other employee benefit trusts
qualified under Section 401 of the Internal Revenue Code, although more than
one beneficiary is involved and (iv) for purposes of investing in individual
retirement accounts, the employees of a single employer or the numbers of a
single union.
5. You represent that you are and at the time of purchasing any shares
of the Funds will be a member in good standing of the National Association of
Securities Dealers, Inc.
6. Orders received from you will be accepted by us only at the public
offering price applicable to each order as established by the then current
prospectus of the Fund. The procedure relating to handling orders shall be
subject to instructions 'which we shall forward you from time to time. All
orders are subject to acceptance or rejection by us in our sole discretion.
7. You agree to purchase shares only from us or from your customers.
If you purchase shares from us, you agree that all such purchases shall be
made only to cover orders already received by you from your customers or for
your own bona fide investment. If you purchase shares from your customers,
you agree to pay such customers not less than the redemption price in effect
on the date of purchase, as defined in the Prospectus of the Fund. We, in
turn, agree that we will not purchase any shares from the issuer except for
the purpose of covering purchase orders which we have already received.
8. You shall sell shares only (a) to customers at the public offering
price then in effect or (b) to the issuer or to any dealer who is a member of
the National Association of Securities Dealers, Inc. at the redemption price
in effect on the date of sale.
9. We will only accept from you unconditional orders for shares at a
definite specified price.
10. If any shares sold to you under the terms of this agreement are
repurchased by the issuer or are tendered for redemption within seven
business days after the date of our confirmation, it is agreed that you shall
forfeit your right to any discount received by you on such shares.
11. Remittance of the net amount due for shares purchased from us shall
be made payable to The First National Bank of Boston, Agent for the
Underwriter, in New York or Boston funds within seven days of our
confirmation of sale to you. Such payment should be sent, together with stock
transfer stamps required on account of the sale by you, to The First National
Bank of Boston, Mutual Funds Department, Box 1473, Boston, Massachusetts
02104, with your transfer instructions on the appropriate copy of our
confirmation of sale to you. If such payment is not received by the Bank, we
reserve the right, without notice, forthwith to cancel the sale.
12. Promptly upon receipt of payment, shares sold to you shall be
deposited by us or by our agent, The First National Bank of Boston, in a
Pioneer Investing Account. No certificates will be issued unless specifically
requested.
13. No person is authorized to make any representations concerning
shares of the Fund except those contained in the current Prospectus for the
Fund and in supplements thereto. In purchasing shares from us you shall rely
solely on the representations contained in the Prospectus for the Fund and
supplements thereto.
14. Additional copies of the current Prospectus and supplements thereto
and other literature will be supplied by us in reasonable quantities upon
request.
15. We reserve the right in our discretion, without notice, to suspend
sales or withdraw the offering of shares entirely or to modify or cancel this
agreement.
16. We both hereby agree Lo abide by the Rules of Fair Practice of the
National Association of Securities Dealers, Inc.
17. All communications to us should be sent to the above address. Any
notice to you shall be duly given if mailed or telegraphed to you at your
address specified above. This agreement shall be construed in accordance with
the laws of Massachusetts.
18. It is understood that this Agreement shall not become effective
until a registration statement with respect to shares of the Fund becomes
effective and that the contents of this Agreement may be changed by the
undersigned to reflect any comments of the Securities and Exchange Commission.
Very truly yours,
FUND RESEARCH AND MANAGEMENT, INC.
The undersigned hereby accepts the offer set forth in the above letter.
Firm United Services Planning Association, Inc.
-----------------------------------------------
Date September 1, 1978 By /s/ [Illegible]
---------------------------------------------
Authorized Representative Asst. Sec & Treas.
(RETAIN ONE COPY AND SIGN, DATE AND RETURN THE OTHER)
FUND RESEARCH AND MANAGEMENT, INC.
00 Xxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
August 28, 1978
PIONEER BOND FUND, INC.
COMMON STOCK
($1.00 par value)
TO SECURITIES DEALERS:
A copy of the Preliminary Prospectus dated August 24, 1978, relating to
the above issue, is enclosed herewith. A Registration Statement covering
these securities has been filed under the Securities Act of 1933 and they may
not be sold nor may offers to buy them be accepted before the Registration
Statement becomes effective. We call your attention to Rule 15c2-8 under the
Securities Exchange Act of 1934 relating to the obligation of underwriters
and dealers (i) to comply with written requests for Preliminary and final
Prospectuses and (ii) to furnish their associated persons with copies of
Preliminary and final Prospectuses prior to solicitation by such persons of
customers' orders. This Preliminary Prospectus, which is subject to change,
is being sent to a number of securities dealers and is merely for their
information in the event we are in a position to make an offering to dealers.
Also enclosed are two copies of a Dealer's Sales Agreement (the
"Agreement") relating to sales of shares of Pioneer Bond Fund, Inc. on and
after the effective date of the Registration Statement. If you wish to sell
such shares pursuant to the Agreement, please sign one copy on the line
provided at the end of the Agreement and return it to Fund Research and
Management, Inc., 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx, Attention: Xxxxx
Xxxxxxx, Executive Vice President.
Very truly yours,
FUND RESEARCH AND MANAGEMENT, INC.
enclosures
SINGLE PAYMENT PLANS
-------------------------------------------------------------------------------
FACE AMOUNT CREATION AND SALES CHARGE DEALER CONCESSION
----------- ------------------------- -----------------
Up to $12,400 8.5% 7.0%
$12,500 to $24,900 7.5% 6.0%
$25,000 to $49,900 6.0% 5.0%
$50,000 to $99,900 4.5% 4.0%
$100,000 to $199,900 3.5% 3.0%
$200,000 to $399,900 2.5% 2.0%
$400,000 to $599,900 2.0% 1.5%
$600,000 and over 1.0% .75%
PIONEER INVESTMENT PLANS
DEALER'S AGREEMENT
June 27, 1974
United Services Planning Association, Inc.
Gentlemen:
Pursuant to a Distribution Agreement between us and Pioneer Plans
Corporation, we have been designated as distributor (hereinafter referred to
as the "Distributor") of the following Plans sponsored by Pioneer Plans
Corporation:
SINGLE PAYMENT PLANS
INSURED SYSTEMATIC INVESTMENT PLANS
which Plans (hereinafter referred to as the "Plans" provide for the
accumulation of shares of Pioneer Fund, Inc, (hereinafter referred to as the
"Fund"). As Distributor of the Plans we invite you to join a selling group to
distribute the Plans upon the following terms and conditions.
1. You will devote your best efforts to the promotion and solicitation
of the Plans. All applications for the Plans shall be made on application
forms supplied by us and all initial payments collected shall be remitted in
full without deduction of any discount representing your commission on the
sale of the Plans, as principal (hereinafter called "commission"), together
with such application forms, signed by each applicant (as "Investor") to our
principal office. Checks or money orders for initial payments shall be drawn
to the order of "The First National Bank of Boston, Custodian." The
application forms submitted for each Plan shall be accompanied by a separate
remittance. After the initial payment has been made and the Plan has been
issued, the investor shall make future payments directly to the Custodian.
The First National Bank of Boston, Mutual Funds Dept., P. O. Box 1473,
Boston, Mass. 02104, or such other address as it may from time to time
designate. Notices relating to payments made and to subsequent payments due
will be mailed to Investors regularly.
2. We shall receive all applications forwarded by you and give them
prompt consideration, but we reserve the right in our sole and uncontrolled
discretion to reject any Plan application, or to extend to any Investor to
whom a Systematic Investment Plan has been issued the privilege of cancelling
his Plan within 30 days of its issuance, and to return any payment made in
connection therewith. We also reserve the right to refund all or part of any
payment or payments made by any Investor in the event that we, in our sole
discretion, believe that the solicitation and/or sale associated therewith
was effected in violation of any applicable State or Federal law or rules or
regulations of the National Association of Securities Dealers, Inc. In the
event of any such refund or refunds you shall not be entitled to any
commissions thereon, and if such commissions have been paid, you shall
promptly refund same to us or we may at our option charge the same against
future commissions, and to this end you hereby grant to us a lien on any such
commissions.
3. On all sales of Plans made by you which have been approved by us,
we shall pay you commissions on the terms hereinafter set forth and in
accordance with "Schedule of Dealers Commissions" which is attached here to
and made a part of this agreement. Commissions on first year payments (1
through 13 on plans of $150 per month or less and payments 1 through 12 on
plans over $150 per month) may be paid, insofar as practicable, monthly as
the creation and sales charges applicable thereto are received by the
Custodian. (To provide for plans surrendered for refund of Creation and Sales
Charges pursuant to Section 27(d) of the Investment Company Act of 1940
("18-month refund option") 30% OF THE FIRST YEAR COMMISSIONS WILL BE HELD IN
A RESERVE ACCOUNT UNTIL THE 19TH MONTH AFTER COMMENCEMENT OF A PLAN. THE
WITHHELD RESERVE WILL BE PAID TO THE DEALER WHEN THE REFUND RIGHT UNDER
SECTION 27(d) IS NO LONGER APPLICABLE. The refund of any excess sales charge
under Section 27(d) will be charged against the reserve account for the
surrendered plan. Any refund in excess of the reserve will be charged against
commissions due to the dealer. No commissions will be payable on plans
refunded pursuant to Section 27(f) of the Investment Company Act of 1940 (45
day refund option). You shall be liable to refund any commissions paid by us
to you pursuant to Section 27(f)). Servicing fees payable from the 14th to
120th payments in the case of a 10-year Plan and from 14th to 180th payments
in the case of a 15-year Plan for (for Plans with monthly payments of $210 or
more, servicing fees become payable with the 13th payment) will be accrued as
payments are received and paid MONTHLY, subject, however, to the provisions
of paragraph 9 hereof. Nothing herein shall be construed so as to constitute
such servicing fees as earned commissions; rather such fees are designated
solely as continuing compensation for servicing the account of the Investor
under the terms of this agreement. If an Investor fails to pay any payment on
a Systematic Investment Plan for 12 consecutive months, the Plan account
shall revert back to us for collection, and in such event no further
commissions or servicing fees with respect to such account shall be due and
payable by us. Further, you shall not be entitled to any servicing fees or
commissions on payments made by an Investor during any extended investment
period on account of payments required during such period as a result of the
Investor's exercise of the Extended Investment Option granted him as a
Planholder. Your right to commissions on Plans sold during the term of this
agreement shall survive termination of the agreement only as set forth in
paragraph 9 hereof. IF THE HOLDER OF AN INSURED SYSTEMATIC INVESTMENT PLAN
DIES AND THE INSURANCE PROCEEDS ARE NOT PAID TO COVER THE UNPAID PLAN
PAYMENTS DUE ON HIS DEATH AND THE ESTATE EXERCISE ITS RIGHT UNDER THE PLAN TO
RECEIVE IN CASH THE NET ASSET VALUE OF SHARES HELD UNDER THE PLAN AND APPLIES
SUCH CASH TO THE UNPAID BALANCE OF THE PLAN, YOU WILL NOT BE ENTITLED TO
RECEIVE ANY COMMISSIONS ON THE PAYMENTS MADE BY THE APPLICATION OF SUCH CASH.
but you will not be entitled to the payment of any servicing fees or any
other compensation hereunder in connection with subsequent years (i.e., after
the first year payments made by Investors with respect to Systematic
Investment Plans.
10. Additional copies of the current Plan Prospectus, any printed
information issued as supplemental to such Plan Prospectus, and the Plan
application forms will be supplied by us in reasonable quantities upon
request.
11. In all sales of the Plans to the public you shall act as a dealer
for your own account and in no transaction shall you have any authority to
act or hold yourself out as agent for us, the Fund, the Sponsor, or
Custodian, and nothing in this agreement shall constitute you a partner,
employee, or agent of ours or give you any authority to act for us. Neither
we nor the Fund shall be liable or any of your acts or obligations as a
dealer under this agreement.
12. This agreement may be terminated by us immediately upon our written
notice to you, by prepaid certified mail, of our belief that you have
violated any of the provisions of paragraph 8 hereof, and upon the giving of
such written notice this agreement will be automatically terminated. Our
failure so to terminate this agreement as a result of any such violation
shall not be construed as a waiver by us of any further, continued or other
violation. Either of the parties hereto may terminate this agreement without
assignment of a reason on at least thirty days's written notice to the other
party, such termination to be effective in the date specified in such notice.
This agreement shall automatically terminate upon its attempted assignment by
you, whether by operation of law or otherwise.
13. All communications to us shall be sent to the address below or to
such other address as we may authorize in writing. All communications and/or
notices to you shall be duly given, mailed or telegraphed to you, at the
address specified by you below, or at such other address as you may authorize
in writing.
14. This agreement shall be construed in accordance with the laws of
the State of Massachusetts and no modification hereof shall be valid unless
in writing.
15. This agreement or any monies due or to become due hereunder shall
not be assignable by you without prior written approval by us.
16. This agreement supersedes and cancels all previous agreements
between us whether oral or written.
Very truly yours,
FUND RESEARCH AND MANAGEMENT, INC.
By /s/ Xxxxx X. Xxxxxx
--------------------------------------
28 State Street
Boston, Massachusetts 02109
The undersigned hereby accepts your invitation to become a member of the
selling group referred to herein and agrees to abide by all the foregoing
terms and conditions.
Dated June 27, 1974 Firm United Services Planning Association, Inc.
-----------------------------------------------
By /s/ Xxxxxxx X. Xxxxx
--------------------------------------------
(Authorized Signature)
Address Executive Suite - Rowan Building
P.O. Box 2387
Fort Worth, Texas 76101
SCHEDULE OF DEALER'S COMMISSIONS
PLANS FIRST YEAR PAYMENTS TEN YEAR TOTALS FIFTEEN YEAR TOTALS
------ ------------------- ----------------------------------- -------------------------------------
FIRST YEAR TRAIL YEARS TRAIL YEARS
------------------- ------------------------ ----------------------
MONTHLY TEN YEAR FIFTEEN FIFTEEN
PAYMENT UNIT MONTHLY TOTAL ANNUALLY TEN YEAR TOTAL TOTAL ANNUALLY YEAR TOTAL YEAR TOTAL
------------ -------- ----- -------- -------------- ----- -------- ----------- ----------
$ 25.00 $ 10.40(a) $ 135.20 $ 4.32 $ 38.52(b) $ 173.72 $ 6.96 $ 96.86(c) $ 232.06
30.00 12.35(a) 160.55 5.28 47.08(b) 207.63 8.40 116.90(c) 277.45
40.00 16.60(a) 215.80 6.72 59.92(b) 275.72 10.92 151.97(c) 367.77
50.00 20.75(a) 269.75 8.52 75.97(b) 345.72 14.52 202.07(c) 471.82
60.00 24.90(a) 323.70 10.20 90.95(b) 414.65 15.96 222.11(c) 545.81
75.00 31.10(a) 404.30 13.20 117.70(b) 522.00 19.80 275.55(c) 679.85
100.00 41.55(a) 540.15 16.92 150.87(b) 691.02 27.36 380.76(c) 920.91
125.00 51.95(a) 675.35 18.00 160.50(b) 835.85 33.48 465.93(c) 1,141.28
150.00 62.30(a) 809.90 26.28 234.33(b) 1,044.23 39.48 549.43(c) 1,359.33
210.00 78.45 941.40 19.20 172.80 1,114.20 40.80 571.20 1,512.60
250.00 96.15 1,153.80 22.80 205.20 1,359.00 45.00 630.00 1,783.80
300.00 103.85 1,246.20 24.00 216.00 1,462.20 60.00 840.00 2,086.20
425.00 107.70 1,292.40 36.00 324.00 1,616.40 72.00 1,008.00 2,300.40
500.00 123.10 1,477.20 66.00 594.00 2,071.20 84.00 1,176.00 2,653.20
600.00 125.00 1,500.00 108.00 972.00 2,472.00 96.00 1,344.00 2,844.00
750.00 177.00 2,124.00 84.00 756.00 2,880.00 103.00 1,512.00 3,636.00
1,000.00 200.00 2,400.00 84.00 756.00 3,156.00 120.00 1,680.00 4,080.00
5,000.00 320.00 3,840.00 60.00 540.00 4,380.00 120.00 1,680.00 5,520.00
(a) Paid 13 times, because a double initial payment is required to open all
plans of $150 per month or less.
(b) In the 10th year only 11 months are paid because of double initial payment.
(c) In the 15th year only 11 months are paid because of double initial payment.
PERSISTENCY BONUS
With respect to each Plan covered by Section 5 completing 18 payments or
more and for which no notices to Planholders have been required pursuant to
Section 27(e) of the Investment Company Act of 1940, an additional $2.00 will
be paid for each $1,000 of face amount.
