SUPPLEMENT TO
INVESTMENT ADVISORY CONTRACT
Pacific Investment Management Institutional Trust
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
______________, 1991
Pacific Investment
Management Company
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: Income and Capital Preservation Portfolio I
Dear Sirs:
This will confirm the agreement between the undersigned (the "Fund") and
Pacific Investment Management Company (the "Adviser") as follows:
1. The Fund is an open-end management investment company organized as a
Massachusetts business trust and consisting of such separate investment
portfolios as have been or may be established by the Trustees of the Fund from
time to time. A separate class of shares of beneficial interest in the Fund is
offered to investors with respect to each investment portfolio. The Income and
Capital Preservation Portfolio I (the "Portfolio") is a separate investment
portfolio of the Fund.
2. The Fund and the Adviser have entered into an Investment Advisory
Contract ("Contract") dated May 6, 1987, pursuant to which the Fund has employed
the Adviser to provide investment advisory and other services specified in the
Contract, and the Adviser has accepted such employment.
3. As provided in paragraph 1 of the Contract, the Fund hereby appoints the
Adviser to serve as Investment Adviser with respect to the Portfolio, and the
Adviser accepts such appointment, the terms and conditions of such employment to
be governed by the Contract, which is hereby incorporated herein by reference.
4. The term "Portfolio" as used in the Contract shall, for purposes of this
Supplement, pertain to the Portfolio.
5. As provided in paragraph 6 of the Contract and subject to further
conditions as set forth therein, the Fund shall with respect to the Portfolio
pay the Adviser a monthly fee on the first business day of each month based upon
the average daily value (as determined on each business day at the time set
forth in the Prospectus for determining net asset value per share) of the net
assets of the Portfolio during the preceding month, at the following annual
rates:
Portion of Average Daily
Value of Net Assets of
the Portfolio Fee Rate
Assets up to $100 million 0.35%
Assets over $100 million to $500 million 0.30%
Assets over $500 million to $1 billion 0.25%
Assets over $1 billion 0.20%
6. This Supplement and the Contract shall become effective with respect to
the Portfolio on , 1991, and shall thereafter continue in effect with respect to
the Portfolio for a period of more than two years from such 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 of the Portfolio (as defined in
the 1940 Act) or by the Fund's Board of Trustees and (b) by the vote, cast in
person at a meeting called for that purpose, of a majority of the Fund's
Trustees who are not parties to this Contract or "interested persons" (as
defined in the Investment Company Act of 1940 ("1940 Act")) of any such party.
This Contract may be terminated with respect to the Fund at any time, without
the payment of any penalty, by vote of a majority of the outstanding voting
securities of the Portfolio (as defined in the 1940 Act) or by a vote of a
majority of the Fund's entire Board of Trustees on 60 days' written notice to
the Adviser. This Contract shall terminate automatically in the event of its
assignment (as defined in the 1940 Act).
If the foregoing correctly sets forth the agreement between the Fund and
the Adviser, please so indicate by signing and returning to the Fund the
enclosed copy hereof.
Very truly yours,
Pacific Investment Management
Institutional Trust
BY:____________________
TITLE:
ACCEPTED:
Pacific Investment
Management Company
BY:_____________________
TITLE:
SUPPLEMENT TO
INVESTMENT ADVISORY CONTRACT
Pacific Investment Management Institutional Trust
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
_________________, 1991
Pacific Investment
Management Company
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: Income and Capital Preservation Portfolio II
Dear Sirs:
This will confirm the agreement between the undersigned (the "Fund") and
Pacific Investment Management Company (the "Adviser") as follows:
1. The Fund is an open-end management investment company organized as a
Massachusetts business trust and consisting of such separate investment
portfolios as have been or may be established by the Trustees of the Fund from
time to time. A separate class of shares of beneficial interest in the Fund is
offered to investors with respect to each investment portfolio. The Income and
Capital Preservation Portfolio II (the "Portfolio") is a separate investment
portfolio of the Fund.
2. The Fund and the Adviser have entered into an Investment Advisory
Contract ("Contract") dated May 6, 1987, pursuant to which the Fund has employed
the Adviser to provide investment advisory and other services specified in the
Contract, and the Adviser has accepted such employment.
3. As provided in paragraph 1 of the Contract, the Fund hereby appoints the
Adviser to serve as Investment Adviser with respect to the Portfolio, and the
Adviser accepts such appointment, the terms and conditions of such employment to
be governed by the Contract, which is hereby incorporated herein by reference.
4. The term "Portfolio" as used in the Contract shall, for purposes of this
Supplement, pertain to the Portfolio.
5. As provided in paragraph 6 of the Contract and subject to further
conditions as set forth therein, the Fund shall with respect to the Portfolio
pay the Adviser a monthly fee on the first business day of each month based upon
the average daily value (as determined on each business day at the time set
forth in the Prospectus for determining net asset value per share) of the net
assets of the Portfolio during the preceding month, at the following annual
rates:
Portion of Average Daily
Value of Net Assets of
the Portfolio Fee Rate
Assets up to $100 million 0.35%
Assets over $100 million to $500 million 0.30%
Assets over $500 million to $1 billion 0.25%
Assets over $1 billion 0.20%
6. This Supplement and the Contract shall become effective with respect to
the Portfolio on , 1991, and shall thereafter continue in effect with respect to
the Portfolio for a period of more than two years from such 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 of the Portfolio (as defined in
the 1940 Act) or by the Fund's Board of Trustees and (b) by the vote, cast in
person at a meeting called for that purpose, of a majority of the Fund's
Trustees who are not parties to this Contract or "interested persons" (as
defined in the Investment Company Act of 1940 ("1940 Act")) of any such party.
This Contract may be terminated with respect to the Fund at any time, without
the payment of any penalty, by vote of a majority of the outstanding voting
securities of the Portfolio (as defined in the 1940 Act) or by a vote of a
majority of the Fund's entire Board of Trustees on 60 days' written notice to
the Adviser. This Contract shall terminate automatically in the event of its
assignment (as defined in the 1940 Act).
If the foregoing correctly sets forth the agreement between the Fund and
the Adviser, please so indicate by signing and returning to the Fund the
enclosed copy hereof.
Very truly yours,
Pacific Investment Management
Institutional Trust
BY:___________________
TITLE:
ACCEPTED:
Pacific Investment
Management Company
BY:______________________
TITLE:
