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DISTRIBUTION AGREEMENT
STANDBY RESERVE FUND, INC.
October 15, 1981
Xxxxx & Co.
Xxx Xxxxxxx Xxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Gentlemen:
This is to confirm that, in consideration of the agreements hereinafter
contained, the undersigned Standby Reserve Fund, Inc. (the "Fund"), a Maryland
corporation, has agreed that Xxxxx & Co. shall be, for the period of this
Agreement, the distributor of shares of Common Stock of the Fund.
1. Services as Distributor.
1.1 Xxxxx & Co. will act as agent for the distribution of shares of the Fund
covered by the registration statement and prospectus then in effect under the
Securities Act of 1933.
1.2 Xxxxx & Co. agrees to use its best efforts to solicit orders for the sale of
shares of the Fund and will undertake such advertising and promotion as it
believes reasonable in connection with such solicitation.
1.3 All activities by Xxxxx & Co. as distributor of the Fund's shares shall
comply with all applicable laws, rules and regulations, including, without
limitation, all rules and regulations made or adopted pursuant to the Investment
Company Act of 1940 by the Securities and Exchange Commission or any securities
association registered under the Securities Exchange Act of 1934.
1.4 Xxxxx & Co. will provide one or more persons, during normal business hours,
to respond to telephone questions with respect to the Fund.
1.5 Xxxxx & Co. will transmit any orders received by it for purchase or
redemption of shares of the Fund to Xxxxx & Co.
1.6 Whenever in their judgment such action is warranted by market, economic or
political conditions, or by abnormal circumstances of any kind,
