Exhibit 13
EUCLID MUTUAL FUNDS
SUBSCRIPTION AGREEMENT
The undersigned, Euclid Advisors LLC (the "Subscriber") hereby subscribes
for twenty-five thousand dollars ($25,000.00) worth of shares of beneficial
interest, without par value, of each of the following: (1) Class A Shares, (2)
Class B Shares, (3) Class C Shares and (4) Class I Shares of Euclid Market
Neutral Fund, a series of EUCLID MUTUAL FUNDS, a Delaware business trust (the
"Trust"), at the net asset value per share of each such share, payment of which
is herewith made in full.
The Trust reserves the right to reject this subscription for any reason
whatsoever which it, in its sole discretion, deems sufficient, by not signing
this Agreement and refunding all funds paid herewith, in which event the Trust
shall have no further obligations thereunder.
The Subscriber hereby represents that it is acquiring the shares for its
own account for investment and with no present intention of reselling or
otherwise distributing the same.
This Subscription Agreement contains the entire agreement between the
Trust and the Subscriber respecting the subject matter hereof, and no agent or
other representative of the Trust or any person has any power to change or alter
its terms.
The Declaration of Trust of the Trust, is on file with the Secretary of
State of Delaware and notice is hereby given that this Agreement is made and
executed on behalf of the Trust, and not by the Trustees or officers of the
Trust individually, and the obligations of or arising out of this Agreement are
not binding upon the Trustees, officers or shareholders of the Trust
individually but are binding only upon the assets and property of the Trust.
Notice is hereby given that the debts, liabilities, obligations and expenses
incurred, contracted for or otherwise existing with respect to a particular
series of the Trust shall be enforceable against the assets of such series only,
and not against the assets of the Trust generally.
Accepted and agreed to this ____ day of ______________, 1998
EUCLID MUTUAL FUNDS EUCLID ADVISORS LLC
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Xxxxxx X. Xxxxxxxxx Xxxxxx X. Xxxxxx
First Vice President & President
Treasurer
