Exhibit e(2)
RENEWAL OF DISTRIBUTION AGREEMENT
THIS AGREEMENT, made this 18th day of May, 1998, between Citizens
Investment Trust, a Massachusetts Business Trust (hereinafter called the
"Trust") and Citizens Securities, Inc., a California Corporation (hereinafter
called the "Distributor").
WITNESSETH:
WHEREAS, there is now in effect a Distribution Agreement dated May 30,
1995, to be in effect through May 31, 1998, between the Trust and the
Distributor, to act as distributor for the shares of the Trust, to solicit
orders for the sale of shares and to sell the Trust's Shares, to be furnished
to the Trust by the Distributor on certain terms and conditions and subject to
certain provisions set forth therein; and
WHEREAS, said Agreement was reapproved by the vote of the holders of a
majority of the outstanding shares of the capital stock of the Trust at the
Special Meeting of Stockholders held May 18, 1992, and said Agreement provides
for year to year renewals by mutual consent, upon certain specified conditions,
and the renewal of such agreement has been approved by the Board of Trustees of
the Trust on May 18, 1998; and
NOW, THEREFORE, such parties agree as follows:
1. The Distribution Agreement dated May 30, 1995, is hereby renewed for the
additional period of 12 months, beginning June 1, 1998 and ending at the
close of business on May 31, 1999.
2. In all other respects said Distribution Agreement, as now amended and in
effect, is reaffirmed and shall continue in effect for the period provided
by such Agreement as renewed by this Agreement.
3. 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 Investment Trust Citizens Securities, Inc.
By /s/ Xxxx Xxxxxx Xxxxxx By /s/ Xxxxxx Xxxxxxx
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Xxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxxx
Chair President
