SUPPLEMENT TO
INVESTMENT ADVISORY CONTRACT
PIMCO Equity Series
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
November 8, 2010
Pacific Investment Management Company LLC
000 Xxxxxxx Xxxxxx Xxxxx
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: PIMCO Emerging Multi-Asset Fund and PIMCO EqS Emerging Markets Fund
(the "Funds")
Dear Sirs:
As provided in the Investment Advisory Contract between PIMCO Equity Series
(the "Trust") and Pacific Investment Management Company LLC (the "Adviser"),
dated March 30, 2010 (the "Contract"), the parties may amend the Contract to
add additional series of the Trust, under the same terms and conditions as set
forth in the Contract, and at a fee rate set forth in Exhibit A to the Contract,
as may be amended from time to time.
The Trust and the Adviser hereby agree to amend the Contract as of the date
hereof to add the Funds to Exhibit A. The current Exhibit A is replaced with
the new Exhibit A attached hereto.
Investment Advisory Contract
EXHIBIT A
(as of November 8, 2010)
PIMCO Equity Series
Fund Investment
Advisory
Fee#
PIMCO Emerging Multi-Asset Fund 0.90 %
PIMCO EqS Emerging Markets Fund 1.00 %
PIMCO EqS Pathfinder FundTM 0.75 %
# Each Fund may invest in shares of PIMCO Funds: Private Account Portfolio
Series Short-Term Floating NAV Portfolio, a series of PIMCO Funds
("PAPS Short-Term Floating NAV Portfolio"). PAPS Short-Term Floating NAV
Portfolio is offered only to series of the Trust (each an "Investing Fund") or
other series of registered investment companies for which PIMCO serves as
investment adviser. PAPS Short-Term Floating NAV Portfolio does not pay an
investment advisory fee to PIMCO. By investing in the PAPS Short-Term Floating
NAV Portfolio, each Investing Fund and PIMCO agree that a portion of the fee
that each Investing Fund is currently obligated to pay PIMCO as indicated on
this Exhibit A, will be designated as compensation for the investment advisory
services PIMCO provides to PAPS Short-Term Floating NAV Portfolio under its
investment advisory contract with PIMCO. Specifically, to the extent that an
Investing Fund invests in the Short-Term Floating NAV Portfolio, a fee of
0.01% of the average daily value (as calculated in Section 6 of the Investment
Advisory Contract) of the assets of the Investing Fund so invested shall be
designated as compensation to PIMCO for the services provided to the
Short-Term Floating NAV Portfolio.
If the foregoing correctly sets forth the Contract between the Trust and
the Adviser, please so indicate by signing, dating and returning to the Trust
the enclosed copy hereof.
Very truly yours,
PIMCO EQUITY SERIES
By: /s/ Xxxxx X. Xxxxxxx
Name: Xxxxx X. Xxxxxxx
Title: Vice President
ACCEPTED:
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
By: /s/ Xxxxx X. Xxxxxx
Title: Managing Director
PIMCO FUNDS, on behalf of its series Private Account Portfolio Series Short-Term
Floating NAV Portfolio
By: /s/ Xxxxx X. Xxxxxxx
Title: Vice President
