Exhibit 13
SUBSCRIPTION AGREEMENT
Xxxxxxxx Xxxxx Growth Fund, Inc. (the "Fund"), an open-end management
investment company and J.J.B. Xxxxxxxx, X.X. Xxxxx, Inc., a Kentucky corporation
("Xxxxxxxx Xxxxx"), intending to be legally bound, hereby agree as follows:
1. In order to provide the Fund with its initial capital, the Fund hereby
sells to Xxxxxxxx Xxxxx and Xxxxxxxx Xxxxx hereby purchases 34,995.625
shares of the Fund's Common Stock ($.001 par value per share) at
$14.2875 per share (the "Shares"). The Fund hereby acknowledges
receipt from Xxxxxxxx Xxxxx of $500,000 in full payment for the
Shares.
2. Xxxxxxxx Xxxxx represents and warrants to the Fund that the Shares are
being acquired for investment and not with a view to distribution
thereof and that Xxxxxxxx Xxxxx has no present intention to redeem or
dispose of any of the Shares.
3. Xxxxxxxx Xxxxx hereby agrees that it will not redeem any of the Shares
prior to the time that the Fund has completed the amortization of its
organizational expenses. In the event that the Fund liquidates before
the deferred organizational expenses are fully amortized, then the
Shares shall bear their proportionate share of such unamortized
organizational expenses.
IN WITNESS WHEREOF, the parties have executed this agreement as of the ____
day of December, 1991.
XXXXXXXX XXXXX GROWTH FUND, INC.
By:____________________________
Title:_________________________
J.J.B. XXXXXXXX, X.X. XXXXX, INC.
By:____________________________
Title:_________________________
