Common use of Amendment and Consent Clause in Contracts

Amendment and Consent. Subject to the terms and conditions contained herein, the parties hereby affect an amendment to the Portfolio Management Agreement to remove PARH as party to such agreement so that NFJ remains the only portfolio manager to the Fund under such agreement. The Fund, the Investment Adviser, and NFJ release PARH from all of its duties and obligations under the Portfolio Management Agreement effective April 30, 2005 and PARH hereby consents to such release. NFJ hereby assumes all duties and obligations of portfolio manager under said Portfolio Management Agreement, effective May 1, 2005.