SUPPLEMENT TO
SERVICE AGREEMENT
Pilgrim America Masters Series, Inc.
00 Xxxxx Xxxxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxx 00000
August 7, 0000
Xxxxxxx Xxxxxxx Group, Inc.
00 Xxxxx Xxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxx 00000
Re: Strategic Income Fund
Dear Sirs:
This will confirm the agreement between the undersigned (the "Company")
and Pilgrim America Group, Inc. ( "PAGI") as follows:
1. This Company is an open-end investment company organized as a Maryland
corporation, and consisting of such investment portfolios as have been
or may be established by the Directors of the Company from time to
time. A separate series of shares of common stock of the Company is
offered to investors with respect to each investment portfolio. The
Strategic Income Fund (the "Fund") is a separate investment portfolio
of the Company.
2. The Company and the PAGI have entered into a Service Agreement
("Agreement") dated July 29, 1996 pursuant to which the Company has
appointed PAGI to provide shareholder services to the Company, and PAGI
has accepted such appointment.
3. The Company and PAGI hereby adopt the Agreement with respect to the
Fund, and acknowledge that the terms and conditions of such employment
will be governed by the Agreement, which is hereby incorporated herein
by reference.
4. This Supplement and the Agreement shall become effective with respect
to the Fund on August 14, 1998 and shall continue until July 29, 1999,
and thereafter may be terminated by either party upon receipt of 60
days written notice.
If the foregoing correctly sets forth the agreement between the Company
and PAGI, please so indicate by signing and returning to the Company the
enclosed copy hereof
Very truly yours,
PILGRIM AMERICA MASTERS SERIES, INC.
By:_________________________
Title:
ACCEPTED:
PILGRIM AMERICA GROUP, INC.
By:_________________________
Title:
