EXHIBIT 4
AGREEMENT AMONG JOINTLY INSURED PARTIES
THIS AGREEMENT is made as of May 1, 2006, by and among Aegis Value Fund,
Inc. and Aegis Funds, on behalf of Aegis High Yield Fund (collectively, the
"Funds").
WHEREAS, the Funds are named as Insureds under a joint insured fidelity
bond (the "Bond") issued to parties hereto with a term of May 1, 2006 to May 1,
2007.
WHEREAS, the Insureds desire to establish criteria by which recoveries
under the Bond shall be allocated among the parties to the Bond and in
compliance with Rule 17g-1 under the Investment Company Act of 1940, as amended
(the "Act").
NOW, THEREFORE, it is hereby agreed as follows:
1. In the event that the claims of loss to both Insureds under the Bond
are so related that the Insurer is entitled to assert that the claims
must be aggregated, each Fund shall receive an equitable and
proportionate share of the recovery, but at least equal to the amount
it would have received had it provided and maintained a single insured
bond with the minimum coverage required under Rule 17g-1 (d) under the
Act.
2. If the Insurer is willing to add as an Insured under the Bond an
investment company not listed at the head of this agreement and such
investment company may be included in the Bond pursuant to Rule 17g-1
under the Act, the Funds agree that (a) such addition may be made,
provided that the Directors/Trustees of each of the Funds who are not
"interested persons" of such Fund shall approve such addition, and (b)
such investment company may become a party to this agreement and be
included within the terms "Fund" or "party", provided that in each
case (i) such investment company shall have executed and delivered to
the Funds its written agreement to become a party hereto and be bound
by the terms of this agreement, and (ii) the premium paid by each Fund
thereafter would be no more than the premium of an individual policy
for the Fund and no more than the share of the joint premium based on
the relative premiums which would apply to individual policies taken
by the jointly insured parties.
3. The obligations of the Funds under this Agreement are not binding upon
any of the Directors/Trustees or shareholders of any such Fund
individually, but bind only the respective assets of each Fund.
This Agreement among the jointly insured parties may be executed in two or
more counterparts, all of which taken together shall be deemed one and the same
instrument.
IN WITNESS WHEREOF, the parties have caused these presents to be executed
by their own officers hereunto duly authorized all as of the day and year first
above written.
AEGIS VALUE FUND, INC.
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
Title: President
AEGIS FUNDS,
on behalf of Aegis High Yield Fund
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
Title: Xxxxxxxxx
XX 00000 0002 758830
