Exhibit 9(f)
PBHG INSURANCE SERIES FUND, INC.
ORGANIZATIONAL EXPENSE
REIMBURSEMENT AGREEMENT
This Agreement is made this 1st day of April 1997, by and between the PBHG
Insurance Series Funds, Inc. (the "Fund"), on behalf of each series of the Fund
set forth in Schedule A (each a "Portfolio," and collectively, the
"Portfolios"), and Pilgrim Xxxxxx & Associates, Ltd. ("Pilgrim Xxxxxx").
WHEREAS, the Fund is registered as an open-end diversified management
investment company under the Investment Company Act of 1940, as amended; and
WHEREAS, there have been certain necessary organizational expenses incurred
as a part of such process, which are proper expenses of the Portfolio, that have
been and will in the future be paid by Pilgrim Xxxxxx and affiliated companies
of Pilgrim Xxxxxx, by reason of the fact that each Portfolio was not capitalized
when such expenses were incurred (such expenses hereinafter referred to as
"Organizational Expenses");
NOW THEREFORE, in consideration of the promises and mutual covenants herein
contained, it is agreed as follows:
1. Effective as of the initial public offering of shares of each
Portfolio, the Fund shall be obligated to reimburse and pay to Pilgrim
Xxxxxx, or such affiliated companies of Pilgrim Xxxxxx as Pilgrim
Xxxxxx may designate, the amounts expended and to be expended by
Pilgrim Xxxxxx and its affiliates for Organizational Expenses.
2. Such reimbursements shall be paid by the Fund promptly upon the demand
of Pilgrim Xxxxxx. Upon demand for payment, Pilgrim Xxxxxx shall
present copies of invoices of receipts, copies of canceled checks or
other evidence of payment of the Organizational Expenses for which it
is demanding reimbursement from the Fund.
PBHG INSURANCE SERIES FUND, INC.
By: /s/ Xxxxx X. Xxxxxxxx
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Title: Vice President
PILGRIM XXXXXX & ASSOCIATES, LTD.
By: /s/ Xxxx X. Xxxxxxxxx
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Title: Chief Financial Officer
SCHEDULE A
This Agreement relates to the following Portfolios of the Fund:
PBHG Growth II Portfolio
PBHG Large Cap Growth Portfolio
PBHG Small Cap Value Portfolio
PBHG Large Cap Value Portfolio
PBHG Technology & Communications Portfolio
PBHG Select 20 Portfolio
