XXXXXX X. XXXXXX
000 XXXXX XXXXXX
XXX XXXX, XXX XXXX 00000
December 30, 1997
The Xxxxxxxx Xxxxxx Trust
000 Xxxx Xxxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxx 00000
Ladies/Gentlemen:
Xxxxxx X. Xxxxxx, as Trustee of The Xxxxxxxx Xxxxxx 401K Plan (the
"Trustees") hereby offers to purchase 10,128.400 Class A shares (the "Seed
Capital Shares") of the Xxxxxxxx Xxxxxx Value Plus Fund (the "Fund"), a series
of The Xxxxxxxx Xxxxxx Trust. This letter will confirm that the Trustee is
purchasing the Seed Capital Shares for its own account for investment purposes
only and not with a view to reselling or otherwise distributing such shares.
The Trustee agrees and hereby undertakes that, in the event any of the
Seed Capital Shares are redeemed during the period of amortization of the Fund's
organizational expenses, the redemption proceeds will be reduced by any
unamortized organizational expenses in the same proportion as the number of Seed
Capital Shares being redeemed bears to the number of Seed Capital Shares
outstanding at the time of redemption.
Sincerely,
Xxxxxx X. Xxxxxx, as Trustee of
The Xxxxxxxx Xxxxxx 401K Plan
By: /s/ Xxxxxx X. Xxxxxx
--------------------
Name: Xxxxxx X. Xxxxxx
Title: Chairman
