INVESTMENT ADVISORY CONTRACTInvestment Advisory Contract • March 15th, 2001 • Clipper Fund Inc • California
INVESTMENT ADVISORY CONTRACT, made as of this 6th day of April, 2001 between CLIPPER FUND, INC, a California corporation (hereinafter called the "Fund"), and Pacific Financial Research, Inc ., a Massachusetts corporation, an indirect and wholly-owned subsidiary of United Asset Management Corporation. United Asset Management Corporation is a subsidiary of Old Mutual plc. (hereinafter called the "Investment Adviser").
