EXHIBIT h(4)
February 5, 2001
Warburg Pincus Trust
000 Xxxxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
RE: CO-ADMINISTRATION SERVICE FEES
Ladies and Gentlemen:
This letter constitutes our agreement with respect to compensation to
be paid to PFPC Inc. ("PFPC") under the terms of a Co-Administration Agreement
dated June 20, 1995, between you (the "Trust") and PFPC, as amended. Pursuant to
Paragraph 11 of that Agreement, and in consideration of the services to be
provided to you, on behalf of the Global Telecommunications Portfolio (the
"Portfolio") you will pay PFPC an annual co-administration fee, to be calculated
daily and paid monthly. You will also reimburse PFPC for its out-of-pocket
expenses incurred on behalf of the Portfolio, including, but not limited to:
postage and handling, telephone, telex, FedEx and outside pricing service
charges.
The annual administration and accounting fee with respect to the Global
Telecommunications Portfolio shall be 0.11% of the Portfolio's first $500
million in average daily net assets, 0.09% of the next $1 billion in average
daily net assets and 0.07% of average daily net assets over $1.5 billion.
The fee for the period from the day of the year this agreement is
entered into until the end of that year shall be pro-rated according to the
proportion which such period bears to the full annual period.
If the foregoing accurately sets forth our agreement, and you intend to
be legally bound thereby, please execute a copy of this letter and return it to
us.
Very truly yours,
PFPC INC.
By: _____________________________________
Name:
Title:
Acceptance:
WARBURG PINCUS TRUST
By: /s/Xxx Xxxxxx
-------------
Name: Xxx Xxxxxx
Title: Vice President and Secretary
