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Exhibit (13)(a)
PURCHASE AGREEMENT
Schwab Annuity Portfolios (the "Trust"), a Massachusetts
business trust, and Xxxxxxx Xxxxxx & Co., Inc. ("Schwab"), a California
corporation, hereby agree as follows:
1. The Trust hereby offers and Schwab hereby purchases 100,000
units of beneficial interest of Series A of the Trust representing interests in
the series of shares known as the Schwab Money Market Portfolio (such 100,000
units of beneficial interest being hereafter collectively known as "Shares") at
a price of $1.00 per Share. Schwab hereby acknowledges purchase of the Shares
and the Trust hereby acknowledges receipt from Schwab of funds in the amount of
$100,000 for the series of the Trust in full payment for the Shares. It is
further agreed that no certificate for the Shares will be issued by the Trust.
2. Schwab 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 names "Schwab Annuity Portfolios" and "Trustees of
Schwab Annuity Portfolios" refer, respectively to the Trust created and the
Trustees as Trustees but not individually or personally, acting from time to
time under an Agreement and Declaration of Trust dated as of January 21, 1994,
to which reference is hereby made and a copy of which is on file at the Office
of the Secretary of State of the Commonwealth of Massachusetts and elsewhere as
required by law, and to any and all amendments thereto so filed or hereafter
filed. The obligations of "Schwab Annuity Portfolios" entered into in the name
or on behalf thereof by any of the Trustees, representatives or agents are not
made individually, but only in such capacities, and are not binding upon any of
the Trustees, Shareholders or representatives of the Trust personally, but bind
only the assets of the Trust, and all persons dealing with any series of Shares
of the Trust must look solely to the assets of the Trust belonging to such
series for the enforcement of any claims against the Trust.
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IN WITNESS WHEREOF, the parties hereto have executed the
Agreement as of the 17th day of March 1994.
Attest: SCHWAB ANNUITY PORTFOLIOS
/s/ A.R. By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
Title: Senior Vice President
Attest: XXXXXXX XXXXXX & CO., INC.
/s/ Xxxx X. Xxxx By: /s/ Xxx X. Xxxx
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Name: Xxx X. Xxxx
Title: Executive Vice President
