EXHIBIT 99.5(ix)
SUPPLEMENT TO
INVESTMENT ADVISORY CONTRACT
PIMCO Funds: Pacific Investment Management Series
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
_________________ , 1998
Pacific Investment Management Company
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: Long Duration Fund
Dear Sirs:
This will confirm the agreement between the undersigned (the "Trust") and
Pacific Investment Management Company (the "Adviser") as follows:
1. This Trust is an open-end investment company organized as a Massachusetts
business trust, and consisting of such investment Fund 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 Long Duration Fund
(the "Fund") is a separate investment portfolio of the Trust.
2. The Trust and the Adviser have entered into an Investment Advisory Contract
("Contract") dated November 22, 1994, as amended, pursuant to which the
Trust has employed the Adviser to provide investment advisory and other
services specified in the Contract, and the Adviser has accepted such
employment.
3. As provided in paragraph 1 of the Contract, the Trust hereby appoints the
Adviser to serve as Investment Adviser with respect to the Fund, and the
Adviser accepts such appointment, the terms and conditions of such
employment to be governed by the Contract, which is hereby incorporated
herein by reference.
4. As provided in paragraph 6 of the Contract and subject to further
conditions as set forth therein, the Trust shall with respect to the Fund
pay the Adviser a monthly fee on the first business day of each month,
based upon the average daily value (as determined on each business day at
the time set forth in the Prospectus
for determining net asset value per share) of the net assets of the Fund
during the preceding month a fee at an annual rate of .25%.
5. This Supplement and the Contract shall become effective with respect to the
Fund on ______________, 1998 and shall continue in effect with respect to
the Fund for a period of more than two years from that date only so long as
the continuance is specifically approved at least annually (a) by the vote
of a majority of the outstanding voting securities (as defined in the 1940
Act) of the Fund or by the Trust's Board of Trustees and (b) by the vote,
cast in person at a meeting called for the purpose, of a majority of the
Trust's trustees who are not parties to this Contract or "interested
persons" (as defined in the 1940 Act) of any such party. This Contract may
be terminated with respect to the Trust at any time, without the payment of
any penalty, by a vote of a majority of the outstanding voting securities
(as defined in the 1940 Act) of the Fund or by a vote of a majority of the
Trust's entire Board of Trustees on 60 days' written notice to the Adviser
or by the Adviser on 60 days' written notice to the Trust. This Contract
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 Adviser, please so indicate by signing and returning to the Trust the
enclosed copy hereof.
Very truly yours,
PIMCO FUNDS: PACIFIC INVESTMENT MANAGEMENT SERIES
By: ________________________________
Title:
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY
By: ________________________________
Title:
