EXHIBIT (d)(23)
[FORM OF ADDENDUM TO THE PORTFOLIO MANAGEMENT AGREEMENT]
The Portfolio Management Agreement ("Agreement") made the 1st day of May,
1998, between Pacific Life Insurance Company ("Pacific Life"), a life
insurance company domiciled in California, Alliance Capital Management L.P.
("Alliance Capital", "Portfolio Manager"), a Limited Partnership organized and
existing under the laws of the state of Delaware, and Pacific Select Fund (the
"Fund"), a Massachusetts Business Trust, is hereby amended as set forth in
this Addendum to the Portfolio Management Agreement, which is dated as of
, 1999.
WHEREAS, the Fund is registered with the Securities and Exchange Commission
as an open-end management investment company; and
WHEREAS, the Fund offers shares in several Portfolios, one of which is
designated the Emerging Markets Portfolio; and
WHEREAS, pursuant to the Agreement, Pacific Life and the Fund have
appointed Alliance Capital as Portfolio Manager to the Emerging Markets
Portfolio and Alliance Capital has accepted such appointment; and
WHEREAS, Pacific Life and the Fund desire to appoint Alliance Capital as
Portfolio Manager to the Emerging Markets Portfolio under the provisions set
forth in the Agreement and in this Addendum; and
WHEREAS, the Portfolio Manager is willing to accept such appointment;
NOW THEREFORE, in consideration of the mutual premises 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 Portfolio Manager to act as Portfolio
Manager with respect to the Emerging Markets 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 the Fee Schedule of
the Agreement as amended by this Addendum.
2. The Fee Schedule of the Agreement is amended by adding the following:
PACIFIC SELECT FUND
FEE SCHEDULE
ALLIANCE CAPITAL MANAGEMENT L.P.
Portfolio: Emerging Markets Portfolio
The Adviser will pay to the Portfolio Manager a monthly fee based on the
average daily net assets of the Emerging Markets Portfolio at an annual rate
equal to:
0.85% on the first $50 million
0.75% on the next $50 million
0.70% on the next $50 million
0.65% on the next $50 million
0.60% on excess of $200 million
These fees for services shall be prorated for any portion of a year in
which the Agreement is not effective.
This Addendum shall take effect on January 1, 2000.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
executed as of the date first indicated above.
PACIFIC LIFE INSURANCE COMPANY
Attest:______________________________ By: _________________________________
Title: Title:
Attest:_________________________ By: ____________________________
Title: Title:
ALLIANCE CAPITAL MANAGEMENT L.P.
BY: ALLIANCE CAPITAL MANAGEMENT
CORPORATION, ITS GENERAL PARTNER
Attest:______________________________ By: _________________________________
Title: Title:
PACIFIC SELECT FUND
Attest:______________________________ By: _________________________________
Title: Title:
