EXHIBIT(l)(4)
LUTHERAN BROTHERHOOD FAMILY OF FUNDS
SUBSCRIPTION AGREEMENT
The Lutheran Brotherhood Family of Funds (the "Trust") has created three new
series of shares to be known as Lutheran Brotherhood Growth Fund ("LB Growth
Fund"), Lutheran Brotherhood Value Fund ("LB Value Fund"), and Lutheran
Brotherhood Limited Maturity Bond Fund ("LB Limited Maturity Bond. The
Trust and Lutheran Brotherhood Research Corp., a Minnesota corporation(the
"Purchaser"), hereby agree with each other as follows:
1. The Trust hereby offers and the Purchaser hereby purchases ___________
shares of beneficial interest, $.001 par value per share, of the LB
Limited Maturity Bond Fund (the "Shares") at a price of $12.50 per
share. The Trust hereby acknowledges receipt from the Purchaser of
payment in full for the Shares.
2. The Trust hereby offers and the Purchaser hereby purchases ___________
shares of beneficial interest, $.001 par value per share, of the LB
Value Fund (the "Shares") at a price of $14.50 per share. The Trust
hereby acknowledges receipt from the Purchaser of payment in full for
the Shares.
3. The Trust hereby offers and the Purchaser hereby purchases ___________
shares of beneficial interest, $.001 par value per share, of the LB
Growth Fund (the "Shares") at a price of $16.50 per share. The Trust
hereby acknowledges receipt from the Purchaser of payment in full for
the Shares.
4. The Purchaser represents and warrants to the Trust that in connection
with its purchase of the Shares hereunder, it understands that: (i) the
Shares have not been registered under the Securities Act of 1933, as
amended (the "1933 Act"); (ii) the sale of the Shares to the Purchaser
is made in reliance on such sale being exempt under Section 4(2) of the
1933 Act as not involving any public offering; and (iii) in part, the
reliance of the Trust on such exemption is predicated on the
representation, which the Purchaser hereby confirms, that the Purchaser
is acquiring the Shares for investment for its own account as the sole
beneficial owner thereof, and not with a view to or in connection with
any resale or distribution of the Shares or of any interest therein.
The Purchaser hereby agrees that it will not sell, assign or transfer
the Shares or any interest therein unless and until the Shares have been
registered under the 1933 Act or the Trust has received an opinion of
counsel indicating that said sale, assignment or transfer will not
violate the provisions of the 1933 Act or any rules or regulations
promulgated thereunder.
5. The names "The Lutheran Brotherhood Family of Funds," "Lutheran
Brotherhood Limited Maturity Bond Fund," "Lutheran Brotherhood Value
Fund," "Lutheran Brotherhood Growth Fund," and "Trustees of The Lutheran
Brotherhood Family of Funds" refer, respectively, to the Trust, the
three new series, and the Trustees of the Trust as trustees but not
individually or personally, acting from time to time under the Trust's
First Amended and Restated Master Trust Agreement dated September 1,
1993, as amended June 7, 1995, March 21, 1997, October 24, 1997, June
30, 1998, and July 26, 1999, which is hereby referred to and a copy of
which is on file at the principal office of the Trust. The obligations
of "The Lutheran Brotherhood Family of Funds" and the "Lutheran
Brotherhood Limited Maturity Bond Fund," "Lutheran Brotherhood Value Fund,"
or "Lutheran Brotherhood Fund" entered into in the name or on behalf thereof
by any of the Trustees, representatives or agents of the Trust or the three
new series are made not individually, but in such capacities, and are not
binding upon any of the Trustees, holders of shares of beneficial interest
of the Trust or representatives of the Trustees personally, but bind only
the Trust assets, and all persons dealing with the three new series or the
Trust must look solely to the Trust property for the enforcement of any
claims against the three new series or the Trust.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the 31st day of October, 1999.
THE LUTHERAN BROTHERHOOD
FAMILY OF FUNDS
By: /s/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx, President
LUTHERAN BROTHERHOOD RESEARCH CORP.
By: /s Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx, President
