EXHIBIT (d)(22)
ADDENDUM TO ADVISORY AGREEMENT
The Advisory Agreement made the 9th day of November, 1987, and subsequently
amended on January 17, 1989, January 4, 1994, August 15, 1994, November 20,
1995, December 18, 1998, December 15, 1999, and January 28, 2000 between the
PACIFIC SELECT FUND (the "Fund"), a Massachusetts business trust, and PACIFIC
LIFE INSURANCE COMPANY (the "Adviser"), a corporation organized under the laws
of California, (the "Agreement") is hereby amended by the addition of the
provisions set forth in this Addendum to the Agreement ("Addendum", which is
made this ____ day of __________ 2000.
WITNESSETH:
WHEREAS, the Fund is authorized to issue an unlimited number of shares of
beneficial interest ("Beneficial Interest") in separate series with each such
series representing interests in a separate portfolio of securities and other
assets; and
WHEREAS, the Fund currently consists of twenty-one series designated as the
Money Market Portfolio, Managed Bond Portfolio, High Yield Bond Portfolio,
Government Securities Portfolio, Growth Portfolio, Equity Income Portfolio,
Multi-Strategy Portfolio, International Portfolio, Equity Index Portfolio,
Growth LT Portfolio, Equity Portfolio, Bond and Income Portfolio, Emerging
Markets Portfolio, Aggressive Equity Portfolio, Mid-Cap Value Portfolio, Large-
Cap Value Portfolio, Small-Cap Index Portfolio, REIT Portfolio, Diversified
Research Portfolio, International Large-Cap Portfolio, and I-Net Tollkeeper
Portfolio (each referred to as a "Series" in the Agreement, and hereinafter
referred to as a "Portfolio"); and
WHEREAS, the Fund intends to establish two additional Portfolios to be
designated as the Focused 30 Portfolio and Strategic Value Portfolio; and
WHEREAS, the Fund desires to appoint the Adviser as manager and investment
adviser to the Focused 30 Portfolio and Strategic Value Portfolio under the
provisions set forth in the Agreement and in this Addendum; and
WHEREAS, the Adviser is willing to accept such appointment;
NOW THEREFORE, in consideration of the mutual promises and covenants
contained in this Addendum, it is agreed between the parties hereto as follows:
1. In addition to its responsibilities as specified in the Agreement, the
Fund hereby appoints the Adviser to act as manager and investment
adviser with respect to the Focused 30 Portfolio and Strategic Value
Portfolio which, in addition to all other Portfolios previously
established, shall be deemed one of the Portfolios under the Agreement,
subject to the terms and conditions as specified in the Agreement,
including section six (6), "Compensation", as amended by this Addendum.
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2. Section six (6) ("Compensation") of the Agreement is amended by
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replacing the first paragraph with the following language:
"6. Compensation. For the services provided and the expenses
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borne by the Adviser pursuant to this Agreement, the Fund will pay to
the Adviser a fee at an annual rate on the Money Market Portfolio of
.40% of the first $250 million of the average daily net assets of the
Portfolio, .35% of the next $250 million of the average daily net
assets of the Portfolio, and .30% of the average daily net assets of
the Portfolio in excess of $500 million; on the Managed Bond, High
Yield Bond, Government Securities and Bond and Income Portfolios of
.60% of the average daily net assets of the Portfolios; on the Growth,
Equity Income, Equity and Multi-Strategy Portfolios of .65% of the
average daily net assets of the Portfolios; on the Growth LT Portfolio
of .75% of the average daily net assets of the Portfolio; on the
International, Large-Cap Value and Mid-Cap Value Portfolios of .85% of
the average daily net assets of the Portfolios; on the Equity Index
Portfolio of .25% of the average daily net assets of the Portfolio; on
the Emerging Markets and REIT Portfolios of 1.10% of the average daily
net assets of the Portfolio; on the Aggressive Equity Portfolio of .80%
of the average daily net assets of the Portfolio; on the Small-Cap
Index Portfolio of .50% of the average daily net assets of the
Portfolio; on the Diversified Research Portfolio of .90% of the average
daily net assets of the Portfolio; on the International Large-Cap
Portfolio of 1.05% of the average daily net assets of the Portfolio; on
the I-Net Tollkeeper Portfolio of 1.50% of the average daily net assets
of the Portfolio; and on the Strategic Value and Focused 30 Portfolios
of 0.95% of the average daily net assets of the Portfolios. This fee
shall be computed and accrued daily and paid monthly."
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
executed by their officers designated below on the date written above.
PACIFIC SELECT FUND
Attest:_______________________________ By _______________________________
Name: Xxxxxx X. Milfs Name: Xxxxxx X. Xxxxxx
Title: Secretary Chairman of the Board & Trustee
PACIFIC LIFE INSURANCE COMPANY
Attest:_______________________________ By _______________________________
Name: Xxxxxx X. Milfs Name: Xxxxxx X. Xxxxxx
Title: Secretary Title: Chairman of the Board & Chief
Executive Officer
