EXHIBIT (d)(3)
FORM OF ADDENDUM TO THE PORTFOLIO MANAGEMENT AGREEMENT
The Portfolio Management Agreement ("Agreement") made the 1st day of May,
1998, between Pacific Life Insurance Company ("Pacific Life"), a life insurance
company domiciled in California, Xxxxxxx Xxxxx Asset Management, a separate
operating division of Xxxxxxx Sachs & Co. ("Xxxxxxx Xxxxx", "Portfolio
Manager"), a partnership organized and existing under the laws of the State of
New York, and Pacific Select Fund (the "Fund"), a Massachusetts Business Trust,
is hereby amended as set forth in this Addendum to the Portfolio Management
Agreement, which is dated as of January 28, 2000.
WHEREAS, the Fund is registered with the Securities and Exchange Commission
as an open-end management investment company; and
WHEREAS, the Fund will offer shares in the I-Net Tollkeeper Portfolio,
effective May 1, 2000,
NOW THEREFORE, in consideration of the mutual premises and covenants
contained in this Addendum, it is agreed between the parties hereto as follows:
1. The Fee Schedule of the Agreement is amended to read as follows:
PACIFIC SELECT FUND
FEE SCHEDULE
XXXXXXX SACHS ASSET MANAGEMENT
Portfolios: Equity and I-Net Tollkeeper Portfolios
Fee:
The Adviser will pay to the Portfolio Manager a monthly fee based on the average
daily net assets of the pertinent Portfolio at the following annual rate:
Equity Portfolio: .35% of the first $100 million
.30% on the next $100 million
.25% on the next $800 million
.20% on excess
I-Net Tollkeeper
Portfolio: .95% of the first $1 billion
.90% on excess
These fees for services shall be prorated for any portion of a year in which the
Agreement is not effective.
However, the rate or rates shown above will be reduced if the Portfolio Manager
is paid lower fees by another portfolio advised or sub-advised by the Portfolio
Manager or any of its affiliates where such other portfolio underlies variable
annuity and/or variable life insurance contracts and has comparable investment
policies to the Equity or I-Net Tollkeeper Portfolios. The fee or fees set forth
above shall be automatically reduced so that the fee or fees paid to Portfolio
Manager for services under this Agreement are at a rate equal to the most
favorable rate paid to Portfolio Manager or any of its affiliates by such
portfolio or portfolios.
This Addendum shall take effect on May 1, 2000.
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IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
executed as of the date first indicated above.
PACIFIC LIFE INSURANCE COMPANY
Attest:_____________________ By:_______________________
Title: Title:
XXXXXXX XXXXX ASSET MANAGEMENT,
A DIVISION OF XXXXXXX SACHS &
COMPANY
Attest:_____________________ By:_______________________
Title: Title:
PACIFIC SELECT FUND
Attest:_____________________ By:_______________________
Title: Title:
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