INITIAL CAPITAL AGREEMENT
________, 2008
Board of Trustees of
The RAM Funds
0000 Xxx Xxxxx Xxxxxx
Xxxxx 000
Xxxxxx, Xxxx 00000
Ladies and Gentlemen:
The undersigned hereby subscribes for 10,000 Shares of Beneficial
Interest, no par value, of The RAM ____________________ Fund, a series of The
RAM Funds, an Ohio business trust, at $10.00 per share for an aggregate purchase
price of $100,000. Our payment in full is confirmed.
The undersigned represents and agrees that it is purchasing these Shares
for investment purposes, for its own account and risk and not with a view to any
sale, division or other distribution thereof within the meaning of the
Securities Act of 1933, nor with any present intention of distributing or
selling such shares.
Very truly yours,
___________________________________
By: ______________________________
Its: ______________________________
Confirmed and Accepted:
The RAM Funds
By: _____________________________
Its: _____________________________
