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EXHIBIT 9(K)
AMENDMENT NO. 4 TO SPECIAL MANAGEMENT SERVICES AGREEMENT
This Amendment No. 4, dated as of the 15th day of July, 1993, is
entered into among PACIFIC HORIZON FUNDS, INC. (the "Company"), a Maryland
corporation, Concord Holding Corporation, a Delaware corporation ("Concord"),
and Bank of America National Trust and Savings Association (the "Bank").
WHEREAS, the Company, Concord and the Bank have entered into a Special
Management Services Agreement dated as of April 22, 1992 as amended by
Amendment No. 1 dated as of March 1, 1993, Amendment No. 2 dated as of March 1,
1993 and Amendment No. 3 dated as of April 1, 1993 (the "Services Agreement"),
pursuant to which the Company appointed Concord and the Bank to provide special
services for the benefit of the series of shares known as "Pacific Horizon
Shares" in its Prime Fund, Treasury Fund, California Tax-Exempt Money Market
Fund, Pacific Horizon Tax-Exempt Money Market Fund, Tax-Exempt Money Fund,
Government Fund, Treasury Only Fund and Prime Value Fund;
WHEREAS, the parties wish to amend the Services Agreement to provide
for a revised fee with respect to the California Tax-Exempt Money Market Fund;
and
WHEREAS, the Pacific Horizon Tax-Exempt Money Market Fund has been
reorganized into the Tax-Exempt Money Fund and therefore no longer exists as a
separate entity;
NOW THEREFORE, the parties hereto, intending to be legally bound,
hereby agree as follows:
1. Section I.5. of the Services Agreement is hereby amended and
restated in its entirety as follows: "COMPENSATION. For the services provided
and the expenses assumed pursuant to this Section I, the Company will pay
Concord and the Bank a fee, computed daily and paid monthly, at (i) the annual
rate of .32% of the average net asset value of the Pacific Horizon Shares of
the Prime Fund, Treasury Fund, Tax- Exempt Money Fund, Government Fund,
Treasury Only Fund and Prime Value Fund that are outstanding from time to time
and (ii) the annual rate of .35% of the average net asset value of the Pacific
Horizon Shares of the California Tax-Exempt Money Market Fund that are
outstanding from time to time. Concord and the Bank hereby agree to waive such
portion of the fee payable to them hereunder as is necessary to assure that the
amount of such fee which is required to be accrued by the Company on any day
with respect to the Pacific Horizon Shares of any Fund does not exceed the
income to be accrued to such Pacific Horizon Shares on that day."
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2. Except to the extent amended hereby, the Services Agreement
shall remain unchanged and in full force and effect and is hereby ratified and
confirmed in all respects as amended hereby.
3. This Amendment may be executed in one or more counterparts and
all such counterparts will constitute one and the same document.
IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 4
as of the date and year first above written.
PACIFIC HORIZON FUNDS, INC.
By:/s/ Xxxxxxx X. Xxxxxxx
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Executive Vice President
CONCORD HOLDING CORPORATION
By:/s/ Xxxxxxx Xxxxxxxxx
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Chief Executive Officer
BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION
By:/s/ Xxxxx XxXxxxx-Xxxxxx
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Senior Vice President
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