AMENDMENT TO THE ADVISORY FEE WAIVER AGREEMENT PL Floating Rate Loan Fund of Pacific Life Funds
THIS AMENDMENT TO ADVISORY FEE WAIVER AGREEMENT (the “Amendment”) by and between Pacific Life
Fund Advisors LLC (the “Adviser”) and Pacific Life Funds (the “Trust”), on behalf of the PL
Floating Rate Loan Fund, a fund of the Trust (“Fund”), is effective as of August 1, 2013.
WHEREAS, the Trust and Adviser are parties to a certain Advisory Fee Waiver Agreement dated
July 1, 2010 (the “Agreement”); and
WHEREAS, the Fund is a fund managed by Xxxxx Xxxxx Management (“EVM”);
WHEREAS, the Adviser, the Trust, EVM and Boston Management Research (“BMR”) have entered into
a Novation Agreement, dated as of the 1st day of August, 2013, where BMR is substituted
for EVM as the portfolio manager of the Fund; and,
WHEREAS, the Trust and Adviser desire to amend the Agreement upon the following terms and
conditions;
NOW THEREFORE, in consideration of the renewal of promises and mutual covenants contained in
the Agreement and the good and fair consideration, the receipt and sufficiency of which are hereby
acknowledged, the Trust and Adviser hereby agree as follows:
| 1) | Paragraph A. of Section I of the Agreement, titled “Advisory Fee Waiver” is hereby deleted in its entirety and replaced with the following: |
“Amount of Waiver. During the term of this Agreement, for so long as Boston
Management Research remains the portfolio manager of the Fund, the Adviser hereby agrees to
waive 0.10% off each Break Point of its investment advisory fee for the Fund.”
| 2) | Except as expressly supplemented, amended or consented to hereby, all of the representations, terms, covenants and conditions of the Agreement shall remain unchanged and shall continue in full force and effect. |
| 3) | Capitalized terms used but not defined herein shall have the meanings assigned to them in the Agreement. |
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their respective
officers designated below on the day and year first above written.
By:
|
/s/ Xxxxxx X. Xxxxxxxx | By: | /s/ Xxxxxxx X. XxxXxxxx | |||||||
Name:
|
Name: | |||||||||
Title:
|
Vice President | Title: | VP & Assistant Secretary |
PACIFIC LIFE FUND ADVISORS LLC
By:
|
/s/ Xxxxxx X. Xxxxxxxx | By: | /s/ Xxxxxxx X. XxxXxxxx | |||||||
Name:
|
Name: | |||||||||
Title:
|
VP, Fund Advisor Operations | Title: | VP & Assistant Secretary |
