ULTRA SERIES FUND SUBSCRIPTION AGREEMENT
SUBSCRIPTION
AGREEMENT
ULTRA SERIES FUND, a statutory trust
organized under the laws of the State of Massachusetts (the “Trust”), and
Madison Asset Management, LLC (the “Buyer”), a Wisconsin limited liability
company, agree as follows:
1. OFFER AND
PURCHASE.
The Trust offers to the Buyer, and the
Buyer agrees to purchase $450,000 of Class I shares and $50,000 of Class II
shares (collectively, the “Shares”) of the Trust’s new Equity Income Fund the
“Fund”). The Buyer acknowledges receipt from the Trust of the
Shares and the Trust acknowledges receipt from the Buyer of an aggregate of
$500,000 in full payment for the Shares.
2. REPRESENTATION BY
BUYER.
The Buyer represents and warrants to
the Trust that the Shares are being acquired for investment purposes and not
with a view to resale or further distribution.
3. LIMITATION OF
LIABILITY.
The Trust and the Buyer agree that the
obligations of the Trust under this Agreement will not be binding upon any of
the Trustees, shareholders, nominees, officers, employees or agents, whether
past, present or future, of the Trust, individually, but are binding only upon
the assets and property of the Trust. The execution and delivery of
this Agreement has been authorized by the Trustees of the Trust, and signed by
an authorized officer of the Trust, acting as such, and neither the
authorization by the Trustees nor the execution and delivery by the officer will
be deemed to have been made by any of them individually or to impose any
liability on any of them personally, but will bind only the trust property of
the Trust. No series of the Trust will be liable for any claims
against any other series.
4. NO RIGHT OF
ASSIGNMENT.
The Buyer's right under this Agreement
to purchase the Shares is not assignable.
5. DATES.
This Agreement will become effective as
of the date the Trust's next Registration
Statement on Form N-1A relating to the Fund becomes effective.
IN WITNESS WHEREOF, the
parties to this Agreement have executed this Agreement
as of the 30th day
of April, 2010.
By:
(signature)
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Name: Xxxxxxxxx
X. Xxxxx
Title: President
BUYER: MADISON ASSET
MANAGEMENT, LLC
By:
(signature)
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Name:
Xxxxxxxxx Xxxxxxx
Title: Chief
Financial Officer
