AMENDMENT TO ADMINISTRATIVE AND CORPORATE SERVICES AGREEMENT
Amendment dated as of May 1, 2002 to the Administrative and Corporate
Services Agreement dated as of on May 1, 2000, between Penn Series Funds, Inc.
("Penn Series") and The Penn Mutual Life Insurance Company ("Penn on Mutual").
WITNESSETH:
WHEREAS, Penn Series and Penn Mutual entered into an Administrative and
Corporate Services Agreement on (the "Agreement") dated as of May 1, 2000;
WHEREAS, Schedule A to the Agreement lists certain portfolios of Penn
Series (called "Additional on Funds"), with respect to which Penn Mutual
provides administrative and corporate services pursuant to the terms on and
conditions of the Agreement;
WHEREAS, in accordance with Section 8 of the Agreement, Schedule B to
Agreement sets forth expense on limitations for the Additional Funds; and
WHEREAS, Penn Series and Penn Mutual wish to amend and restate
Schedules A and B of the Agreement for on the purpose of adding additional
portfolios of Penn Series to the Agreement and setting forth expense limitations
for such portfolios.
NOW THEREFORE, Penn Series and Penn Mutual hereby amend and restate
Schedules A and B to the Agreement on as set forth in Schedules A and B attached
to this Amendment.
IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed by their officers designated on below as of the day and year first
written above.
PENN SERIES FUNDS, INC. THE PENN MUTUAL LIFE INSURANCE COMPANY
By: By:
--------------------------- ---------------------------
Name: Xxxxx X. Xxxxxxx Name: Xxx X. Xxxxxxxxx
Title: President Title: Vice President & Controller
Date: Date:
--------------------------- ---------------------------
SCHEDULE A
to
ADMINISTRATIVE AND CORPORATE SERVICES AGREEMENT
between
PENN SERIES FUNDS, INC.
and
THE PENN MUTUAL LIFE INSURANCE COMPANY
Funds
Limited Maturity Bond Fund
Core Equity Fund
Index 500 Fund
Mid Cap Growth Fund
Mid Cap Value Fund
Large Cap Growth Fund
Strategic Value Fund
REIT Fund
A-1
SCHEDULE B
to
ADMINISTRATIVE AND CORPORATE SERVICES AGREEMENT
between
PENN SERIES FUNDS, INC.
and
THE PENN MUTUAL LIFE INSURANCE COMPANY
Expense Limitations
Fund Expense Limitation
---- ------------------
Limited Maturity Bond Fund .90%
Core Equity Fund 1.00%
Index 500 Fund .40%
Mid Cap Growth Fund 1.00%
Mid Cap Value Fund 1.00%
Large Cap Growth Fund 1.00%
Strategic Value Fund 1.25%
REIT Fund 1.25%
B-1
