EXHIBIT 99.5(p)
Addendum to Portfolio Management Agreement
ADDENDUM TO OF THE PORTFOLIO MANAGEMENT AGREEMENT
The Portfolio Management Agreement ("Agreement") made the 27/th/ day of
December, 1995, between Pacific Mutual Life Insurance Company ("Pacific
Mutual"), a life insurance company domiciled in California, Blairlogie Capital
Management ("Blairlogie", "Portfolio Manager"), a partnership, 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 January 1, 1997.
WHEREAS, the Fund is registered with the Securities and Exchange Commission
as an open-end management investment company;
WHEREAS, the Fund offers shares in several Portfolios, one of which is
designated the Emerging Markets Portfolio ("Portfolio");
WHEREAS, pursuant to the Agreement, Pacific Mutual and the Fund have
appointed Blairlogie as Portfolio Manager to the Portfolio and Blairlogie has
accepted such appointment;
WHEREAS, Pacific Mutual, Blairlogie, and the Fund desire to amend the Fee
Schedule of the Portfolio Management Agreement;
NOW THEREFORE, in consideration of the promises and mutual covenants herein
contained, it is agreed among Pacific Mutual, Blairlogie, and the Fund that the
Fee Schedule of the Agreement be amended to read as follows:
PACIFIC SELECT FUND
FEE SCHEDULE
BLAIRLOGIE CAPITAL MANAGEMENT
Portfolio: Emerging Markets Portfolio
Fee:
The Adviser will pay to the Portfolio Manager a fee based on the
average daily net assets of the Portfolio at an annual rate equal to:
.85% on the first $50 million;
.75% on the next $50 million;
.70% on the next $50 million;
.65% on the next $50 million;
.60% on the excess of $200 million.
This Addendum shall take effect on January 1, 1997, provided it has been
approved by the requisite shareholder vote pursuant to the Investment Company
Act of 1940.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be
executed as of the date first indicated above.
PACIFIC MUTUAL LIFE INSURANCE
/s/ ▇▇▇▇▇▇ ▇. Milfs By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Attest Title: Chairman of the Board,
Title: Secretary Director and Chief Executive Officer
BLAIRLOGIE CAPITAL MANAGEMENT
/s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ By: /s/ J.R.W. ▇▇▇▇▇▇▇▇
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Attest Title: Chief Financial Officer
Title: Administration Manager
PACIFIC SELECT FUND
/s/ ▇▇▇▇▇▇ ▇. Milfs By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Attest Title: President
Title: Secretary