SUBSCRIPTION AGREEMENT
WHEREAS, there has been organized under the laws of the State of
Delaware, a statutory trust known as the Cornerstone Progressive Return Fund
(the "Fund").
WHEREAS, the Fund has been organized for the purpose of engaging in any
lawful act or activity for which statutory trusts may be organized under the
Delaware Statutory Trust Act.
WHEREAS, the Fund is authorized to issue an unlimited number of shares
of beneficial interest, no par value per share ("Common Stock").
NOW, THEREFORE, the undersigned hereby subscribes for and agrees to
purchase 3,334 shares of Common Stock and agrees to pay the amount of $50,010
($15.00 per share) therefor.
The subscription hereunder shall be payable at such time or times as
the Board of Trustees of the Fund may determine, and the shares of stock
subscribed for hereunder shall be issued at the time payment is received
therefor.
Dated as of the 20th day of July, 2007.
/S/ XXXXX X. XXXXXXXX
--------------------------
Xxxxx X. Xxxxxxxx
Accepted as of
July 20, 0000
XXXXXXXXXXX XXXXXXXXXXX RETURN FUND
By: /S/ XXXXXXX X. XXXXX
--------------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
CROSS RECEIPT
Pursuant to that certain Subscription Agreement (the "Subscription
Agreement"), dated as of July 20, 2007, between the Cornerstone Progressive
Return Fund (the "Fund") and Xxxxx X. Xxxxxxxx (the "Subscriber"), the
Subscriber hereby acknowledges receipt from the Fund of 3,334 common shares of
beneficial interest of the Fund (the "Shares").
Dated as of July 20, 2007
/S/ XXXXX X. XXXXXXXX
-------------------------
Xxxxx X. Xxxxxxxx
Pursuant to the Subscription Agreement, the Fund hereby acknowledges
receipt from the Subscriber of a wire in the amount indicated below as payment
for the Shares issued therefor as indicated below. The Shares shall be deemed to
have been issued to the Subscriber on the date on which payment therefor was
made to the Fund.
DATE OF PAYMENT $ RECEIVED NO. OF SHARES ISSUED
--------------- ---------- --------------------
July 20, 2007 $50,010 3,334
Dated as of July 20, 0000
Xxxxxxxxxxx Xxxxxxxxxxx Return Fund
By: /S/ XXXXXXX X. XXXXX
-------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
SUBSCRIPTION AGREEMENT
WHEREAS, there has been organized under the laws of the State of
Delaware, a statutory trust known as the Cornerstone Progressive Return Fund
(the "Fund").
WHEREAS, the Fund has been organized for the purpose of engaging in any
lawful act or activity for which statutory trusts may be organized under the
Delaware Statutory Trust Act.
WHEREAS, the Fund is authorized to issue an unlimited number of shares
of beneficial interest, no par value per share ("Common Stock").
NOW, THEREFORE, the undersigned hereby subscribes for and agrees to
purchase 3,334 shares of Common Stock and agrees to pay the amount of $50,010
($15.00 per share) therefor.
The subscription hereunder shall be payable at such time or times as
the Board of Trustees of the Fund may determine, and the shares of stock
subscribed for hereunder shall be issued at the time payment is received
therefor.
Dated as of the 20th day of July, 2007.
/S/ XXXX X. XXXXX
--------------------------
Xxxx X. Xxxxx
Accepted as of
July 20, 0000
XXXXXXXXXXX XXXXXXXXXXX RETURN FUND
By: /S/ XXXXXXX X. XXXXX
--------------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President
CROSS RECEIPT
Pursuant to that certain Subscription Agreement (the "Subscription
Agreement"), dated as of July 20, 2007, between the Cornerstone Progressive
Return Fund (the "Fund") and Xxxx X. Xxxxx (the "Subscriber"), the Subscriber
hereby acknowledges receipt from the Fund of 3,334 common shares of beneficial
interest of the Fund (the "Shares").
Dated as of July 20, 2007
/S/ XXXX X. XXXXX
--------------------------
Xxxx X. Xxxxx
Pursuant to the Subscription Agreement, the Fund hereby acknowledges
receipt from the Subscriber of a wire in the amount indicated below as payment
for the Shares issued therefor as indicated below. The Shares shall be deemed to
have been issued to the Subscriber on the date on which payment therefor was
made to the Fund.
DATE OF PAYMENT $ RECEIVED NO. OF SHARES ISSUED
--------------- ---------- --------------------
July 20, 2007 $50,010 3,334
Dated as of July 20, 0000
Xxxxxxxxxxx Xxxxxxxxxxx Return Fund
By: /S/ XXXXXXX X. XXXXX
-----------------------------
Name: Xxxxxxx X. Xxxxx
Title: Vice President