Exhibit 13
Subscription Agreement
PURCHASE AGREEMENT
IBJ Funds Trust, a Delaware business trust (the "Company"),
and Xxxxxx Xxxx, Incorporated (the "Distributor"), hereby agree as follows:
1. The Company hereby offers the Distributor and the
Distributor hereby purchases the following shares, par value $.001 per share, of
each portfolio ("Fund") of the Company: 25,000 shares at $1.00 per share
representing shares in Reserve Money Market Fund, 2,500 shares at $10.00 per
share representing shares in Bond Fund, 2,500 shares at $10.00 per share
representing shares in Core Equity Fund, and 2,500 shares at $10.00 per share
representing shares in Growth and Income Fund (the "Shares"). The Distributor
hereby acknowledges receipt of a purchase confirmation reflecting the purchase
of the Shares, and the Company hereby acknowledges receipt from the Distributor
of funds in the amount of $100,000 in full payment for the Shares.
2. The Distributor represents and warrants to the Trust that
the Shares are being acquired for investment purposes and not with a view to the
distribution thereof.
3. The Distributor agrees that if it or any direct or indirect
transferee of the Shares redeems the Shares prior to the fifth anniversary of
the date the Company begins its investment activities, the Distributor will pay
to the Company an amount equal to the number resulting from multiplying each
Fund's total unamortized organizational expenses by a fraction, the numerator of
which is equal to the number of Shares redeemed by the Distributor or such
transferee and the denominator of which is equal to the number of shares of each
Fund outstanding as of the date of such redemption, as long as the
administrative position of the staff of the Securities and Exchange Commission
requires such reimbursement.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the 18th day of November, 1994.
IBJ FUNDS TRUST
Attest:
_________________________ By:_________________________
Name: Name:
Title:
XXXXXX XXXX, INCORPORATED
Attest:
_________________________ By:_________________________
Name: Name:
Title:
