EXHIBIT (h)(5)
AMENDMENT TO
ADMINISTRATION AGREEMENT
This is an amendment dated November 2, 2001 to the Administration Agreement
("Agreement") between Pilgrim Mayflower Trust ("Trust") and ING Pilgrim Group,
LLC, which was made the 8th day of November, 1993, amended and restated on the
16th day of December, 1998, and restated on the 30th day of April, 2000.
WHEREAS, The Board of Trustees has determined that it is in the best interest of
the Trust to synchronize the annual renewal of this Agreement with the renewal
of the Trust's investment management agreement, which also requires annual
renewal by the Trust's Board of Trustees, to facilitate the Trust's compliance
schedule and administration.
THEREFORE, the parties agree that this Agreement, as amended, shall be dated
September 1, 2001.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their officers designated below as of the day and year set forth
above.
PILGRIM MAYFLOWER TRUST
By: /s/ Xxxxxx X. Naka
---------------------------------
Xxxxxx X. Naka
Senior Vice President
ING PILGRIM GROUP, LLC
By: /s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
Senior Vice President
