Exhibit L(4)
ULTRA SERIES FUND
SUBSCRIPTION AGREEMENT
ULTRA SERIES FUND, a business trust organized under the laws of the
Commonwealth of Massachusetts (the "Trust"), AND CUNA MUTUAL INSURANCE SOCIETY.
("CMIS"), a duly licensed registered investment adviser domiciled in the state
of Iowa with its principal office located in Madison, Wisconsin, agrees as
follows:
1. OFFER AND PURCHASE.
The Trust offers to MCA, and MCA agrees to purchase, the number and amount
of Class Z shares (the "Shares") shown on the Schedule attached to this
Agreement of the Target Retirement 2020 Fund, Target Retirement 2030 Fund and
Target Retirement 2040 Fund, each a series of the Trust. MCA acknowledges
receipt from the Trust of the Shares and the Trust acknowledges receipt from MCA
of an aggregate of $1,000,000 in full payment for the Shares.
2. REPRESENTATION BY MCA.
MCA 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. FILING OF CERTIFICATE OF TRUST.
The Trust represents that a copy of its Certificate of Trust dated November
1, 1983, as amended from time to time, is on file with the Secretary of State of
the Commonwealth of Massachusetts. The Trust represents a copy of its
Declaration of Trust dated May 1, 1997, as amended from time to time, is
maintained by the Trust.
4. LIMITATION OF LIABILITY.
The Trust and MCA 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.
5. NO RIGHT OF ASSIGNMENT.
MCA's right under this Agreement to purchase the Shares is not assignable.
6. DATES.
This Agreement will become effective as of the date the Trust's next
Registration Statement on Form N-1A relating to the Target Retirement 2020 Fund,
Target Retirement 2030 Fund and Target Retirement 2040 Fund becomes effective.
IN WITNESS WHEREOF, the parties to this Agreement have executed this
Agreement as of the 1st day of October, 2007.
ULTRA SERIES FUND
By: /s/ Xxxxx X. Xxxxx
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Name: Xxxxx X. Xxxxx
Title: President
ATTEST:
/s/ Xxxxx X. Xxxxxx
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CUNA MUTUAL INSURANCE SOCIETY
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Vice President
ATTEST:
/s/ Xxxxx X. Xxxxxx
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SCHEDULE
Amount Price
Name of Fund of Shares Per Share Total
------------ --------- --------- ----------
Target Retirement 2020 Funds 100,000 $10.00 $1,000,000
Target Retirement 2030 Funds 100,000 $10.00 $1,000,000
Target Retirement 2040 Funds 100,000 $10.00 $1,000,000
------- ----------
Total 300,000 $3,000,000
