RENEWAL OF SUB-ADVISORY AGREEMENT
THIS AGREEMENT, made this 22nd day of August, 2000 between Citizens Advisers, a
California Corporation (the "Adviser"), Seneca Capital Management, LLC, a
California Limited Partnership (the "Sub-Adviser") and Citizens Funds, an open
end investment company organized and existing under the laws of the Commonwealth
of Massachusetts (the "Fund").
WITNESSETH
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WHEREAS, there is now in effect Sub-Advisory Agreement dated September
15, 1998, to be in effect through September 14, 2000, between the Adviser, the
Fund and the Sub-Adviser, providing portfolio management services, to be
furnished to the Fund by the Sub-Adviser on certain terms and conditions and
subject to certain provisions set forth therein; and
NOW, THEREFORE, such parties agree as follows:
5. The Sub-Advisory Agreement dated September 15, 1998, is in
regard to the Citizens Emerging Growth Fund, is hereby renewed for an
additional period of approximately one year beginning September 15,
2000 and ending at the close of business on September 14, 2001.
6. The Sub-Advisory Agreement dated September 15, 1998 is, in
regard to the Citizens Income Fund, hereby renewed for an additional
period beginning September 15, 2000 and ending at the close of business
on November 30, 2000.
7. In all other respects said Sub-Advisory Agreements, as now
amended and in effect, are reaffirmed and shall continue in effect for
the period provided by such Agreements as renewed by this Agreement.
8. This Agreement may be executed in several counterparts, each
of which shall be original.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in their corporate names by their duly authorized officers as of the
day and year first above written.
Citizens Funds Citizens Advisers, Inc.
By-------------------------- By---------------------------
Xxxx Xxxxxx Xxxxxx Xxxx X. Xxxxxxx
Chair, Board of Trustees President
Seneca Capital Management, LLC
By--------------------------
Xxxx Seneca Managing
Partner
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RENEWAL OF SUB-ADVISORY AGREEMENT
THIS AGREEMENT, made this 22nd day of August, 2000 between Citizens Advisers, a
California Corporation (the "Adviser"), Clemente Capital, Inc., a New York
Corporation (the "Sub-Adviser") and Citizens Funds, an open end investment
company organized and existing under the laws of the Commonwealth of
Massachusetts (the "Fund").
WITNESSETH
----------
WHEREAS, there is now in effect Sub-Advisory Agreement dated February
8, 1994, to be in effect through September 14, 2000, between the Adviser, the
Fund and the Sub-Adviser, providing portfolio management services, to be
furnished to the Fund by the Sub-Adviser on certain terms and conditions and
subject to certain provisions set forth therein; and
NOW, THEREFORE, such parties agree as follows:
1. The Sub-Advisory Agreement dated February 8, 1994, is hereby
renewed for an additional period of approximately one year beginning
September 15, 2000 and ending at the close of business on September 14,
2001.
2. Article 2 of the Sub-Advisory Agreement dated February 8,
1994 is hereby amended as follows: For the services rendered by the
Sub-Adviser under this Agreement, the Adviser shall pay to the
Sub-Adviser the following compensation, computed on average daily net
assets at the annual rate of: Citizens Global Equity Fund - 35 basis
points on the first five hundred million dollars ($500,000,000) of
assets under management in the portfolio and 25 basis points on all
amounts over five hundred million dollars ($500,000,000) of assets
under management in the portfolio.
3. In all other respects said Sub-Advisory Agreements, as now
amended and in effect, are reaffirmed and shall continue in effect for
the period provided by such Agreements as renewed by this Agreement.
4. This Agreement may be executed in several counterparts, each
of which shall be original.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in their corporate names by their duly authorized officers as of the
day and year first above written.
Citizens Funds Citizens Advisers, Inc.
By-------------------------- By---------------------------
Xxxx Xxxxxx Xxxxxx Xxxx X. Xxxxxxx
Chair, Board of Trustees President
Clemente Capital, Inc.
By--------------------------
Xxxxxxx X. XxXxxxxxx
Chief Executive Officer
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