ADDENDUM TO ADMINISTRATION AGREEMENT
Ex-99. – (h)(8)
ADDENDUM TO
This Addendum, effective as of September 29, 2009, is entered into between the PNC Funds, Inc. (the “Company”) and PNC Capital Advisors, Inc. (“PNC”).
WHEREAS, the Company and Mercantile-Safe Deposit and Trust Company entered into an Administration Agreement dated as of May 28, 1993 (the “Administration Agreement”);
WHEREAS, PNC assumed the rights and obligations of Mercantile-Safe Deposit and Trust Company under the Administration Agreement in an Assumption and Guarantee dated May 11, 2001;
WHEREAS, Section 5 of the Administration Agreement provides that the Administration Agreement shall automatically terminate in the event of its “assignment,” as that term is defined in the Investment Company Act of 1940;
WHEREAS, the merger of PNC into PNC Capital Advisors, LLC, a Delaware limited liability company, will result in an assignment of the Administration Agreement;
WHEREAS, the parties desire to continue the Administration Agreement under the terms and conditions of the Administration Agreement;
NOW THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:
Not withstanding the termination of the Administration Agreement as a result of its assignment due to the merger of PNC into PNC Capital Advisors, LLC, the parties mutually agree that the Administration Agreement shall continue to remain in full force and effect unless otherwise terminated as provided by the Administration Agreement.
IN WITNESS WHEREOF, the undersigned have executed this Addendum as of the date and year first above written.
| PNC Funds, Inc. | ||
| /s/ Xxxxx X. XxXxxxxxx | ||
| Name: | Xxxxx X. XxXxxxxxx | |
| Title: | President | |
| PNC Capital Advisors, Inc. | ||
| /s/ Xxxxxxxx X. Xxxxxxxx | ||
| Name: | Xxxxxxxx X. Xxxxxxxx | |
| Title: | Treasurer | |
| 5 of 17 |
