August 1, 2000
Xx. Xxxxxxx Xxxxxxxxx
Vice President
Credit Suisse Asset Management
000 Xxxxxxxxx Xxxxxx
Xxx Xxxx, XX 00000-0000
Re: Revised Fee Schedules
Dear Xxxx:
This letter constitutes our agreement to amend the fees charged by PFPC Inc. to
the Warburg Pincus Funds, effective August 1, 2000. The funds covered by this
agreement and their associated fee schedules are listed and described in
Exhibits 1 through 4.
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: /s/Xxxxxxx X. Xxxxxx, XX.
-------------------------
Name: Xxxxxxx X. Xxxxxx, Xx.
Title: Vice President
Accepted:
Warburg Pincus Funds
By: /s/Xxxxxxx Xxxxxxxxx
--------------------
Name: Xxxxxxx Xxxxxxxxx
Title: Treasurer
WARBURG PINCUS DOMESTIC EQUITY FUNDS EXHIBIT 1
Fee Schedule
ACCOUNTING AND ADMINISTRATION FEES
---------------------------------------
Balanced Fund First $500 Million 10 BPS
Capital Appreciation Fund Next $1 Billion 8 BPS
Emerging Growth Fund Over $1.5 Billion 6 BPS
Focus Fund
INSTITUTIONAL FUND:
Long-Short Market Neutral Portfolio
Post-Venture Capital Portfolio
Small Company Growth Portfolio
Small Company Value Portfolio
Value Portfolio
Long-Short Market Neutral
Small Company Growth Fund
Small Company Value Fund
Technology Index Fund
WARBURG PINCUS TRUST:
Emerging Growth Portfolio
Value Portfolio
Small Company Growth Portfolio
U.S. Core Equity
Value Fund
PFPC will waive its fee for a Portfolio in its entirety for any month in which
the Portfolio's average daily net assets are below $40 million for the first
thirty-six months of operation.
The funds will also reimburse PFPC for its out-of-pocket expenses incurred on
behalf of the funds, including, but not limited to: postage and handling,
telephone, telex, FedEx and outside pricing service charges.
WARBURG PINCUS FIXED INCOME FUNDS EXHIBIT 2
Fee Schedule
ACCOUNTING AND ADMINISTRATION FEES
--------------------------------------
Fixed Income Fund First $150 Million 7 BPS
Global Fixed Income Fund Next $150 Million 6 BPS
High Yield Over 300 Million 5 BPS
INSTITUTIONAL FUND:
High Yield Portfolio
Intermediate Maturity Government Fund
Municipal Bond
New York Intermediate Municipal Fund
Strategic Global
WARBURG PINCUS TRUST II:
Fixed Income Portfolio
U.S. Core Fixed Income
PFPC will waive its fee for a Portfolio in its entirety for any month in which
the Portfolio's average daily net assets are below $40 million for the first
thirty-six months of operation.
The funds will also reimburse PFPC for its out-of-pocket expenses incurred on
behalf of the funds, including, but not limited to: postage and handling,
telephone, telex, FedEx and outside pricing service charges.
WARBURG PINCUS INTERNATIONAL EQUITY FUNDS EXHIBIT 3
Fee Schedule
ACCOUNTING AND ADMINISTRATION FEES
--------------------------------------
Emerging Markets Fund First $500 Million 11 BPS
European Equity Next $1 Billion 9 BPS
Global Financial Services Fund Over $1.5 Billion 7 BPS
Global Health Sciences Fund
Global New Technologies Fund
Global Post-Venture Capital Fund
Global Telecommunications
INSTITUTIONAL FUND:
Emerging Markets Portfolio
Global Telecommunications Portfolio
International Equity Portfolio
Japan Growth Portfolio
Major Foreign Markets Portfolio
International Equity Fund
International Growth
International Small Company Fund
Japan Growth Fund
Japan Small Company Fund
Major Foreign Markets Fund
WARBURG PINCUS TRUST:
Emerging Markets Portfolio
Global Post Venture Capital Portfolio
International Equity Portfolio
PFPC will waive its fee for a Portfolio in its entirety for any month in which
the Portfolio's average daily net assets are below $40 million for the first
thirty-six months of operation.
The funds will also reimburse PFPC for its out-of-pocket expenses incurred on
behalf of the funds, including, but not limited to: postage and handling,
telephone, telex, FedEx and outside pricing service charges.
WARBURG PINCUS MONEY MARKET FUNDS EXHIBIT 4
Fee Schedule
ACCOUNTING AND ADMINISTRATION FEES
------------------------------------
Cash Reserve Fund* First $500 Million 10 BPS
INSTITUTIONAL FUND: Next $1 Billion 7.5 BPS
Cash Reserve Portfolio Over $1.5 Billion 5 BPS
New York Tax Exempt Fund*
WorldPerks Money Market Fund*
WorldPerks Tax Exempt Money Market Fund**
PFPC will waive its fee for a Portfolio in its entirety for any month in which
the Portfolio's average daily net assets are below $40 million for the first
thirty-six months of operation.
The funds will also reimburse PFPC for its out-of-pocket expenses incurred on
behalf of the funds, including, but not limited to: postage and handling,
telephone, telex, FedEx and outside pricing service charges.
* These funds will continue to pay BIMC an additional Six Basis Points for
the Sub-Advisory services provided by BIMC.
** From its Advisory Fees CSAM pays BIMC a fee of Six Basis Points.
