EXHIBIT H1
CONTRACT
REIMBURSEMENT AGREEMENTS WITH OFFICERS AND/OR DIRECTORS
The Fund is obligated to reimburse directors not affiliated with the Investment
Adviser to compensate for travel and other expenses associated with performance
of their duties. The cost of this reimbursment was $1,647 for the year 2008.
As the Fund grows in total assets, the Board of Directors may authorize salaries
commensurate with their duties. The Fund never has or plans to compensate
officers, employees and directors who are affiliated with the Investment Adviser
except indirectly through payment of the management fee.
