A model subspace $K_\Theta$ of the Hardy space $H^2 = H^2 (\mathbb{C}_+)$ for the upper half plane $\mathbb{C}_+$ is $H^2(\mathbb{C}_+) \ominus \Theta H^2(\mathbb{C}_+)$ where $\Theta$ is an inner function in $\mathbb{C}_+$. A function $\omega \colon \mathbb{R}\mapsto[0,\infty)$ is called {\it an admissible majorant\/} for $K_\Theta$ if there exists an $f \in K_\Theta$, $f \not\equiv 0$, $|f(x)|\leq \omega(x)$ almost everywhere on $\mathbb{R}$. For some (mainly meromorphic) $\Theta$'s some parts of $\Adm\Theta$ (the set of all admissible majorants for $K_\Theta$) are explicitly described. These descriptions depend on the rate of growth of $\arg \Theta$ along $\mathbb{R}$. This paper is about slowly growing arguments (slower than $x$). Our results exhibit the dependence of $\Adm B$ on the geometry of the zeros of the Blaschke product $B$. A complete description of $\Adm B$ is obtained for $B$'s with purely imaginary (``vertical'') zeros. We show that in this case a unique minimal admissible majorant exists.

This paper is a continuation of \cite{HM02I}. We consider the model subspaces $K_\Theta=H^2\ominus\Theta H^2$ of the Hardy space $H^2$ generated by an inner function $\Theta$ in the upper half plane. Our main object is the class of admissible majorants for $K_\Theta$, denoted by $\Adm \Theta$ and consisting of all functions $\omega$ defined on $\mathbb{R}$ such that there exists an $f \ne 0$, $f \in K_\Theta$ satisfying $|f(x)|\leq\omega(x)$ almost everywhere on $\mathbb{R}$. Firstly, using some simple Hilbert transform techniques, we obtain a general multiplier theorem applicable to any $K_\Theta$ generated by a meromorphic inner function. In contrast with \cite{HM02I}, we consider the generating functions $\Theta$ such that the unit vector $\Theta(x)$ winds up fast as $x$ grows from $-\infty$ to $\infty$. In particular, we consider $\Theta=B$ where $B$ is a Blaschke product with ``horizontal'' zeros, {\it i.e.}, almost uniformly distributed in a strip parallel to and separated from $\mathbb{R}$. It is shown, among other things, that for any such $B$, any even $\omega$ decreasing on $(0,\infty)$ with a finite logarithmic integral is in $\Adm B$ (unlike the ``vertical'' case treated in \cite{HM02I}), thus generalizing (with a new proof) a classical result related to $\Adm\exp(i\sigma z)$, $\sigma>0$. Some oscillating $\omega$'s in $\Adm B$ are also described. Our theme is related to the Beurling-Malliavin multiplier theorem devoted to $\Adm\exp(i\sigma z)$, $\sigma>0$, and to de~Branges' space $\mathcal{H}(E)$.