Exhibit (h)(18)
AMENDMENT TO EXPENSE LIMITATION AGREEMENT
The Expense Limitation Agreement ("Agreement"), made as of the 1st day of
March 2000 and subsequently amended on July 1, 2000, January 2, 2001, and
November 26, 2001 by and between PACIFIC LIFE INSURANCE COMPANY ("Adviser") and
PACIFIC SELECT FUND (the "Fund"), on behalf of each of the Fund's separate
portfolios (each a "Portfolio," collectively, the "Portfolios") is hereby
amended by the addition of the provisions set forth in this Amendment to the
Agreement ("Amendment"), which is made this 18th Day of November, 2002.
1. Section A of Paragraph I is amended as follows:
Applicable Expense Limit. For purposes of this Agreement "Portfolio
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Operating Expenses" shall consist of the ordinary operating expenses
incurred by a Portfolio in any fiscal year, including organizational
expenses, and excluding the following: investment advisory fees; additional
custodial charges associated with holding foreign securities; foreign taxes
on dividends, interest, or gains; interest; taxes; brokerage commissions
and other transactional expenses; extraordinary expenses such as
litigation; other expenses not incurred in the ordinary course of the
Portfolio's business; and expenses of any counsel or other persons or
services retained by the Trust's trustees who are not "interested persons,"
(as that term is defined in the ▇▇▇▇ ▇▇▇) of the Adviser. To the extent
that the Portfolio Operating Expenses incurred by a Portfolio exceed the
Operating Expense Limit, as defined in Section I.B. below, the Adviser
shall waive its fees under the Advisory Agreement or otherwise reimburse
the Portfolio for such excess amount (the "Excess Amount").
Schedule A is amended to reflect changes in the names of Portfolios.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the day and year first above written.
PACIFIC SELECT FUND
ATTEST: /s/ ▇▇▇▇▇▇ ▇. Milfs BY: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. Milfs Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Secretary Title: Chairman of the Board &
Trustee
PACIFIC LIFE INSURANCE COMPANY
ATTEST: /s/ ▇▇▇▇▇▇ ▇. Milfs BY: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. Milfs Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Secretary Title: Chairman of the Board &
Chief Executive Officer
EXPENSE LIMITATION AGREEMENT
SCHEDULE A
OPERATING EXPENSE LIMITS
Maximum Operating Expense Limit
(as a Percentage of average net assets)
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Blue Chip Portfolio 0.10%
Aggressive Growth Portfolio 0.10%
Aggressive Equity Portfolio 0.10%
Emerging Markets Portfolio 0.10%
Diversified Research Portfolio 0.10%
Small-Cap Equity Portfolio 0.10%
International Large-Cap Portfolio 0.10%
Equity Portfolio 0.10%
I-Net Tollkeeper Portfolio 0.10%
Financial Services Portfolio 0.10%
Health Sciences Portfolio 0.10%
Technology Portfolio 0.10%
Telecommunications Portfolio 0.10%
Multi-Strategy Portfolio 0.10%
Main Street(R)Core Portfolio* (formerly
Large-Cap Core Portfolio) 0.10%
Growth LT Portfolio 0.10%
Strategic Value Portfolio 0.10%
Focused 30 Portfolio 0.10%
Mid-Cap Value Portfolio 0.10%
International Value Portfolio 0.10%
Capital Opportunities Portfolio 0.10%
Mid-Cap Growth Portfolio 0.10%
Global Growth Portfolio 0.10%
Equity Index Portfolio 0.10%
Small-Cap Index Portfolio 0.10%
Real Estate Portfolio 0.10%
Inflation Managed Portfolio 0.10%
Managed Bond Portfolio 0.10%
Money Market Portfolio 0.10%
High Yield Bond Portfolio 0.10%
Equity Income Portfolio 0.10%
Research Portfolio 0.10%
Large-Cap Value Portfolio 0.10%
Effective November 18, 2002
* Effective January 1, 2003