EXHIBIT 99.5(o)
Addendum to Advisory Agreement
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, and November 20,
1995, 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 _________________, 1998.
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 fourteen 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, and Aggressive Equity Portfolio (each referred to as a
"Series" in the Agreement, and hereinafter referred to as a "Portfolio"); and
WHEREAS, the Fund intends to establish four additional Portfolios to be
designated as the Large-Cap Value Portfolio, Mid-Cap Value Portfolio, REIT
Portfolio, and Small-Cap Index Portfolio; and
WHEREAS, the Fund desires to appoint the Adviser as manager and investment
adviser to the Large-Cap Value Portfolio, Mid-Cap Value Portfolio, REIT
Portfolio, and Small-Cap Index 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:
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 Large-Cap Value Portfolio, Mid-Cap Value Portfolio, REIT
Portfolio, and Small-Cap Index 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
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this Addendum.
Section six (6) ("Compensation") of the Agreement is amended by replacing the
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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 first $100 million of the average daily net
assets of the Portfolio, .20% of the next $100 million of the average
daily net assets of the Portfolio, and .15% of the average daily net
assets of the Portfolio in excess of $200 million; 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; and on the Small-Cap Index
Portfolio of .50% of the average daily net assets of the Portfolio.
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: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Vice President & Assistant Secretary Chairman of the Board,
Trustee & President
PACIFIC LIFE INSURANCE COMPANY
Attest: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Vice President Chairman of the Board &
Chief Executive Officer
Attest: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxx Name: Xxxxx X. Xxxxxxx
Title: Vice President President
