EXHIBIT (d)(20)
[FORM OF ADDENDUM TO ADVISORY AGREEMENT]
The Advisory Agreement made the 9th day of November, 1987, and subsequently
amended on January 17, 1989, January 4, 1994, August 15, 1994, November 20,
1995, and December 18, 1998 between the PACIFIC SELECT FUND (the "Fund"), a
Massachusetts business trust, and PACIFIC LIFE INSURANCE COMPANY (the
"Adviser"), a corporation organized under the laws of California, (the
"Agreement") is hereby amended by the addition of the provisions set forth in
this Addendum to the Agreement ("Addendum", which is made this day of
1999.
WITNESSETH:
WHEREAS, the Fund is authorized to issue an unlimited number of shares of
beneficial interest ("Beneficial Interest") in separate series with each such
series representing interests in a separate portfolio of securities and other
assets; and
WHEREAS, the Fund currently consists of eighteen series designated as the
Money Market Portfolio, Managed Bond Portfolio, High Yield Bond Portfolio,
Government Securities Portfolio, Growth Portfolio, Equity Income Portfolio,
Multi-Strategy Portfolio, International Portfolio, Equity Index Portfolio,
Growth LT Portfolio, Equity Portfolio, Bond and Income Portfolio, Emerging
Markets Portfolio, Aggressive Equity Portfolio, Mid-Cap Value Portfolio, Large-
Cap Value Portfolio, Small-Cap Index Portfolio, and REIT Portfolio (each
referred to as a "Series" in the Agreement, and hereinafter referred to as a
"Portfolio"); and
WHEREAS, the Fund intends to establish two additional Portfolios to be
designated as the Diversified Research Portfolio and International Large-Cap
Portfolio; and
WHEREAS, the Fund desires to appoint the Adviser as manager and investment
adviser to the Diversified Research Portfolio and International Large-Cap
Portfolio under the provisions set forth in the Agreement and in this Addendum;
and
WHEREAS, the Fund and the Adviser have agreed to change the rate of
compensation payable to the Adviser for the services provided to the Equity
Index Portfolio to the rate reflected in item 2, below, subject to approval of
the shareholders of the Equity Index Portfolio.
WHEREAS, the Adviser is willing to accept such appointment;
NOW THEREFORE, in consideration of the mutual promises and covenants
contained in this Addendum, it is agreed between the parties hereto as follows:
1. In addition to its responsibilities as specified in the Agreement, the
Fund hereby appoints the Adviser to act as manager and investment
adviser with respect to the Diversified Research Portfolio and
International Large-Cap Portfolio which, in addition to all other
Portfolios previously established, shall be deemed one of the Portfolios
under the Agreement, subject to the terms and conditions as specified in
the Agreement, including section six (6), "Compensation", as amended by
this Addendum.
2. Section six (6) ("Compensation") of the Agreement is amended by
replacing the first paragraph with the following language:
"6. Compensation. For the services provided and the expenses borne
by the Adviser pursuant to this Agreement, the Fund will pay to the
Adviser a fee at an annual rate on the Money Market Portfolio of .40%
of the first $250 million of the average daily net assets of the
Portfolio, .35% of the next $250 million of the average daily net
assets of the Portfolio, and .30% of the average daily net
assets of the Portfolio in excess of $500 million; on the Managed Bond,
High Yield Bond, Government Securities and Bond and Income Portfolios
of .60% of the average daily net assets of the Portfolios; on the
Growth, Equity Income, Equity and Multi-Strategy Portfolios of .65% of
the average daily net assets of the Portfolios; on the Growth LT
Portfolio of .75% of the average daily net assets of the Portfolio; on
the International, Large-Cap Value and Mid-Cap Value Portfolios of .85%
of the average daily net assets of the Portfolios; on the Equity Index
Portfolio of .25% of the average daily net assets of the Portfolio; on
the Emerging Markets and REIT Portfolios of 1.10% of the average daily
net assets of the Portfolio; on the Aggressive Equity Portfolio of .80%
of the average daily net assets of the Portfolio; on the Small-Cap
Index Portfolio of .50% of the average daily net assets of the
Portfolio; on the Diversified Research Portfolio of .90% of the average
daily net assets of the Portfolio; and on the International Large-Cap
Portfolio of 1.05% of the average daily net assets of the Portfolio.
This fee shall be computed and accrued daily and paid monthly."
The Fund and the Adviser acknowledge that this Addendum to Advisory
Agreement is severable as to any Portfolio addressed herein.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed as of the day and year first written above.
PACIFIC LIFE INSURANCE COMPANY
Attest:_________________________ By: ____________________________
Title: Title: _________________________
By: ____________________________
Title: _________________________
PACIFIC SELECT FUND
Attest:_________________________ By: ____________________________
Title: Title: _________________________
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