AMENDMENT NO. 1 TO SCHEDULE A
OF THE
EXPENSE LIMITATION AGREEMENT
THIS SCHEDULE A to the Expense Limitation Agreement dated May 1, 2001 (the
Agreement") between PBHG Insurance Series Fund and Pilgrim Xxxxxx & Associates,
Ltd., amended as of , 2002 to add PBHG Stable Value Portfolio, sets forth,
pursuant to Section 1.2 of the Agreement, the total operating expense limit for
each Portfolio.
PBHG INSURANCE SERIES FUND
TOTAL OPERATING
DATE ON WHICH THE EXPENSE LIMIT
AGREEMENT BECAME (AS A PERCENTAGE OF
PORTFOLIO EFFECTIVE FOR THE AVERAGE DAILY NET
--------- PORTFOLIO ASSETS)
--------- -------
PBHG Growth II Portfolio May 1, 2001 1.20%
PBHG Large Cap Growth Portfolio May 1, 2001 1.10%
PBHG Small Cap Value Portfolio May 1, 2001 1.20%
PBHG Select Value Portfolio May 1, 2001 1.00%
PBHG Technology & Communications Portfolio May 1, 2001 1.20%
PBHG Select 20 Portfolio May 1, 2001 1.20%
PBHG Mid-Cap Value Portfolio May 1, 2001 1.20%
PBHG Small Cap Growth Portfolio May 1, 2001 1.20%
PBHG Stable Value Portfolio ______, 2002 1.20%
PBHG INSURANCE SERIES FUND PILGRIM XXXXXX & ASSOCIATES, LTD.
By: __________________________ By: ____________________________________
Title: _______________________ Title: _________________________________
