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EXHIBIT (1)
SUBSCRIPTION AGREEMENT
For and in consideration of the mutual agreements herein contained,
___________ (the "Subscriber") hereby agrees to purchase from Ambassador Funds
(the "Fund"), a Delaware business trust, and the Fund agrees to sell to the
Subscriber _____ shares of beneficial interest of the Fund, no par value, at the
price of $_______ per share, upon the following terms and conditions.
1. The Subscriber agrees to pay $________ to the Fund upon demand.
2. The Fund will not issue any securities or receive any of the proceeds of
this subscription until subscriptions identical in form to this one have been
made by not more than twenty-five (25) persons (which persons shall include the
Subscriber) to purchase from the Fund securities for an aggregate net amount,
which plus the Fund's then net worth will equal at least $100,000.
3. Unless such aggregate net amount is paid to the Fund and the Fund then
has $100,000 of net worth within 90 days after _____, the date on which the
registration statement filed under the Securities Act of 1933 with respect to
the Fund's capital stock became effective, then this subscription shall become
null and void and the full amount paid in by the subscriber will be refunded to
the Subscriber on demand without any deduction.
4. In the event that such aggregate net amount of cash has been paid in and
the Fund has a net worth of at least $100,000 within 90 days after such
registration statement has become effective, then this subscription shall be in
full force and effect and the Fund may retain all funds tendered to it.
5. The Subscriber agrees that the shares are being purchased for investment
with no present intention of reselling or redeeming said shares.
6. It is understood that said aggregate net amount will be paid in to the
Fund before any subscriptions for Fund capital stock will be accepted from any
person in excess of twenty-five (25).
SUBSCRIBER:
Date:___________________ ______________________________
Print Name:
SUBSCRIPTION AGREED TO:
AMBASSADOR FUNDS
Date:___________________ By:___________________________
Name:_________________________
Title:________________________
