SCHEDULE A
TO THE ADMINISTRATION AGREEMENT
DATED SEPTEMBER 1, 1999 BETWEEN
THE PILLAR FUNDS
AND
SEI INVESTMENTS MUTUAL FUND SERVICES
Pursuant to Article 4, Section A, the Trust shall pay the Administrator
compensation which is calculated daily and paid monthly at an annual rate on
all Portfolios,except the Institutional Select Money Market and U.S. Treasury
Securities Plus Money Market Portfolios (collectively, the "Designated
Portfolios"), as follows:
Aggregate Net Assets of
ALL PORTFOLIOS AGGREGATE COMPENSATION
First $3.5 billion .20% of average daily net assets of the Designated Portfolios
Next $1.5 billion .16% of average daily net assets of the Designated Portfolios
Next $1.5 billion .14% of average daily net assets of the Designated Portfolios
Over $6.5 billion .12% of average daily net assets of the Designated Portfolios
The compensation paid to the Administrator with respect to the Designated
Portfolios shall be calculated by aggregating the amounts due the Administrator
with respect to each level of the foregoing schedule. For example, in the event
the aggregate net assets of all Portfolios are equal to $4.0 billion, the
Administrator shall receive .20% of the first $3.5 billion of the average daily
net assets of the Designated Portfolios plus .16% of the remaining $.5 billion
of the average daily net assets of the Designated Portfolios.
With regard to Institutional Select Money Market Portfolio ("ISMMP"), the Trust
shall pay the Administrator as follows:
Aggregate Net Assets of
ALL PORTFOLIOS AGGREGATE COMPENSATION
First $3.5 billion .10% Of average daily net assets of the ISMMP
Next $1.5 billion .08% Of average daily net assets of the ISMMP
Next $1.5 billion .07% Of average daily net assets of the ISMMP
Over $6.5 billion .06% Of average daily net assets of the ISMMP
With regard to U.S. Treasury Securities Plus Money Market Portfolio, the Trust
shall pay the Administrator .35% of the average daily net assets of the
Portfolio.
Notwithstanding the foregoing schedule, in the event that the Administrator at
any time administers for the Trust more than 47 CUSIP numbers, the minimum
annual compensation payable with respect to each additional Portfolio shall be
$50,000 for the initial class, plus $10,000 for each additional class.