SHARE PURCHASE AGREEMENT
This Agreement is made as of the 20th day of February, 1998 between
Pioneer Funds Distributor, Inc., a Delaware corporation ("PFD") and Pioneer
Independence Fund, a Delaware business trust (the "Fund") and a diversified
open-end management investment company registered under the Investment Company
Act of 1940, as amended (the "1940 Act").
WHEREAS, the Fund wishes to sell to PFD through Pioneer Independence
Plans, and PFD wishes to purchase from the Fund through Pioneer Independence
Plans, $100,000 of shares of beneficial interest of the Fund (10,000 shares) at
a purchase price of $10.00 per share (collectively, the "Shares"); and
WHEREAS, Pioneer Independence Plans, a unit investment trust also
registered under the 1940 Act, has been established for the collective
investment in and the accumulation of shares of beneficial interest in the Fund;
and
WHEREAS, PFD is purchasing the Shares for the purpose of providing the
initial capitalization of the Fund and Pioneer Independence Plans as required by
the 1940 Act;
NOW, THEREFORE, the parties hereto agree as follows:
1. Simultaneously with the execution of this Agreement, PFD is
delivering to Pioneer Independence Plans a check in the amount of $100,000 in
full payment for the Shares.
2. PFD agrees that it is purchasing the Shares through Pioneer
Independence Plans for investment purposes and has no present intention of
redeeming or reselling the Shares or terminating its Pioneer Independence Plans
account.
3. PFD further agrees that it may not withdraw the Shares from Pioneer
Independence Plans or the Fund at a rate, which at any time during the Fund's
first five years of operations, exceeds in the aggregate $1,666.67 per month.
Executed as of the date first set forth above.
PIONEER FUNDS DISTRIBUTOR, INC.
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx, President
PIONEER INDEPENDENCE FUND
/s/ Xxxx X. Xxxxx, Xx.
Xxxx X. Xxxxx, Xx., President
