EXHIBIT 99(h)(9)
FORM OF
SUPPLEMENT TO
SECOND AMENDED AND RESTATED
ADMINISTRATION AGREEMENT
PIMCO FUNDS
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
May 5, 2000
Pacific Investment Management Company
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: Loan Obligation Fund
Dear Sirs:
This will confirm the agreement between the undersigned (the "Trust") and
Pacific Investment Management Company (the "Administrator") as follows:
1. This Trust is an open-end investment company organized as a Massachusetts
business trust, and consisting of such investment portfolios as have been or
may be established by the Trustees of the Trust from time to time. A
separate series of shares of beneficial interest of the Trust is offered to
investors with respect to each investment portfolio. The Loan Obligation
Fund (the "Fund") is a separate investment Portfolio of the Trust.
2. The Trust and the Administrator have entered into a Second Amended and
Restated Administration Agreement ("Agreement") dated May 5, 2000, pursuant
to which the Trust has employed the Administrator to provide management and
administrative services specified to the Trust as set forth in that
Agreement.
3. As provided in paragraph 1 of the Agreement, the Trust hereby adopts the
Agreement with respect to the Fund, and the Administrator hereby
acknowledges that the Agreement shall pertain to the Fund, the terms and
conditions of such Agreement being hereby incorporated herein by reference.
4. As provided in paragraph 5 of the Agreement and subject to further
conditions as set forth therein, the Trust shall with respect to the Fund
pay the Administrator a monthly fee calculated as a percentage (on an annual
basis) of the value of net assets of the Fund during the preceding month, as
determined on the last business day of the preceding month, at a rate of
0.25% of the assets.
5. This Supplement and the Agreement shall take effect as of May 5, 2000, and
shall remain in effect, unless sooner terminated as provided herein, for one
year from such date, and shall continue thereafter on an annual basis with
respect to the Fund provided that such continuance is specifically approved
at least annually (a) by the vote of a majority of the Board of Trustees of
the Trust, and (b) by the vote of a majority of the Board of Trustees of the
Trust who are not parties to the Agreement or "interested persons" (as
defined in the 0000 Xxx) of the Trust or the Administrator, and who have no
direct or indirect financial interest in the operation of the Agreement or
any agreement related to Special Class D Services as defined in the
Agreement, cast in person at a meeting called for the purpose of voting on
such approval. The Agreement may be terminated at any time, without the
payment of any penalty, by a vote of a majority of the entire Board of
Trustees of the Trust or by a majority of the outstanding voting securities
of the Trust or, with respect to the Fund, by a vote of a majority of the
outstanding shares of the Fund, on 60 days' written notice to the
Administrator or, at or after the one-year period commencing the date of its
effectiveness, by the Administrator on 60 days' written notice to the Trust.
This Agreement shall terminate automatically in the event of its assignment
(as defined in the 1940 Act).
If the foregoing correctly sets forth the agreement between the Trust and
the Administrator, please so indicate by signing and returning to the Trust the
enclosed copy hereof.
Very truly yours,
PIMCO FUNDS
By:__________________________________________
Title:
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY
By:_________________________________________
Title:
