EXHIBIT 99(h)(8)
FORM OF
SUPPLEMENT TO THE SECOND
AMENDED AND RESTATED
ADMINISTRATION AGREEMENT
PIMCO Funds: Pacific Investment Management Series
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
_____________, 2000
Pacific Investment Management Company
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: PIMCO California Municipal Bond Fund
PIMCO Short-Term Emerging Markets Portfolio
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 PIMCO California
Municipal Bond Fund and PIMCO Short-Term Emerging Markets Portfolio (the
"Portfolios") are separate investment portfolios of the Trust.
2. The Trust and the Administrator have entered into an 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 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 Portfolios and the Administrator hereby
acknowledges that the Agreement shall pertain to the Portfolios, 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 each Portfolio
pay the Administrator a monthly fee calculated as a percentage (on an annual
basis) of the value of net assets of the Portfolio during the preceding month,
as determined on the last business day of the preceding month, for the PIMCO
California Municipal Bond Fund, at a rate of 0.24% for Institutional and
Administrative Classes and at a rate of 0.35% for Class A, Class B, Class C and
Class D; and for the PIMCO Short-Term Emerging Markets Portfolio at a rate of
0.10%.
5. This Supplement and the Agreement shall become effective with respect
to each Portfolio on ______________, ________ and shall continue in effect with
respect to each Portfolio 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 Portfolio 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. 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 a Portfolio by a
vote of a majority of the outstanding shares of the Portfolio, 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).
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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: PACIFIC INVESTMENT MANAGEMENT
SERIES
By: ___________________________
Title: President
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY
By: _________________________________
Title: Managing Director
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