Exhibit 13.2
ORGANIZATIONAL EXPENSES AGREEMENT
CFS INVESTMENT TRUST, a Massachusetts business trust (the "Trust"), and
CALAMOS ASSET MANAGEMENT, INC., AN ILLINOIS CORPORATION ("CAM"), in
consideration for the engagement by CAM as the investment advisor for the Trust
pursuant to a separate agreement, agree:
1. Advancement of Expenses. CAM shall pay all of the organizational
expenses of the Trust, including but not limited to initial franchise taxes,
registration fees and fees services rendered prior to commencement of the
initial public offering of shares of the Trust, subject to the right to be
reimbursed pursuant to paragraph 2.
2. Reimbursement and Amortization of Expenses. The Trust shall amortize the
organizational expenses on a straight line basis over a period of five years
from the commencement of the initial public offering of shares of the Trust, and
the Trust shall reimburse CAM during the period of such amortization by paying
to CAM on the last business day of each month an amount equal to the
organizational expenses amortized by the Trust during that month.
Dated: _____________________, 1988
CFS INVESTMENT TRUST
By:
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President
CALAMOS ASSET MANAGEMENT, INC.
By:
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President
