INITIAL CAPITAL AGREEMENT
December 3, 2020
000 Xxxxxxxx Xxxxx Xxx., Xxxxx X-000
Xxx, Xxx Xxxx 00000
Ladies and Gentlemen:
The undersigned hereby subscribes for 4,000 Shares of Beneficial Interest, no par value, of the AVDR US LargeCap ESG ETF, a series of New Age Alpha Trust, a Delaware statutory trust, at $25.00 per share for an aggregate purchase price of $100,000. By signing below, 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,
New Age Alpha Advisors, LLC
By: _/s/ Xxxxx Arus________________
Name: Xxxxx Xxxx
Title: Chief Executive Officer
Confirmed and Accepted:
By: /s/ Xxxxx X. Kemp_____________________
Name: Xxxxx X. Xxxx
Title: President
