Exhibit 9(L)
THE BENCHMARK FUNDS
ADDENDUM NO. 5 TO THE ADMINISTRATION AGREEMENT
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This Addendum, dated as of the 22nd day of April, 1997, is entered into
between THE BENCHMARK FUNDS (the "Trust"), a Massachusetts business trust, and
▇▇▇▇▇▇▇, ▇▇▇▇▇ & CO., a New York Partnership (the "Administrator").
WHEREAS, the Trust and the Administrator have entered into an
Administration Agreement dated as of June 8, 1992, as amended by Addendum No. 1
dated January 8, 1993, Addendum No. 2 dated July 1, 1993, Addendum No. 3 dated
March 25, 1994 and Addendum No. 4 dated January 22, 1997 (the "Administration
Agreement"), pursuant to which the Trust appointed the Administrator to act as
administrator to the Trust for the Diversified Assets Portfolio, Government
Portfolio, Government Select Portfolio, Tax-Exempt Portfolio, U.S. Treasury
Index Portfolio, Short-Intermediate Bond Portfolio, Bond Portfolio, Equity Index
Portfolio, Small Company Index Portfolio, Diversified Growth Portfolio, U.S.
Government Securities Portfolio, Short Duration Portfolio, Focused Growth
Portfolio, Balanced Portfolio, International Growth Portfolio International Bond
Portfolio and International Equity Index Portfolio;
WHEREAS, the Trust is establishing the Intermediate Bond Portfolio (the
"Portfolio"), and it desires to retain the Administrator to act as administrator
of the Trust for the Portfolio and the Administrator is willing to so act;
NOW THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:
1. Appointment The Trust hereby appoints the Administrator as
administrator of the Trust for the Portfolio on the terms and for the periods
set forth in the Administration Agreement. The Administrator hereby accepts such
appointment and agrees to render the services and perform the duties set forth
in the Administration Agreement for the compensation therein provided.
2. Capitalized Terms. From and after the date hereof, the term
"Portfolios" as used in the Administration Agreement shall be deemed to include
the Intermediate Bond Portfolio. Capitalized terms used herein and not otherwise
defined shall have the meanings ascribed to them in the Administration
Agreement.
3. Miscellaneous. Except to the extent supplemented hereby, the
Administration Agreement shall remain unchanged and in full force and effect,
and is hereby ratified and confirmed in all respects as supplemented hereby.
IN WITNESS WHEREOF, the undersigned have executed this Addendum as of the
date and year first above written.
THE BENCHMARK FUNDS
Attest:_________________________ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Vice President
▇▇▇▇▇▇▇, SACHS & CO.
Attest:_________________________ By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Managing Director
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