SUPERVISION AND ADMINISTRATION AGREEMENT
SUPERVISION AND ADMINISTRATION AGREEMENT, made this 30th day of March,
2010, between PIMCO Equity Series (the "Trust"), a Delaware statutory trust,
and Pacific Investment Management Company LLC (the "Administrator" or "PIMCO"),
a Delaware limited liability company.
WHEREAS, the Trust is registered with the Securities and Exchange
Commission ("SEC") as an open-end management investment company under the
Investment Company Act of 1940, as amended (the "1940 Act"); and
WHEREAS, the Trust is authorized to issue shares of beneficial interest
("Shares") in separate series, which are listed in the attached Schedule A (as
amended from time to time), with each such series representing interests in a
separate portfolio of securities and other assets; and each series of the Trust
issues its Shares in one or more classes, with each such class representing
interests in the same portfolio of securities and other assets; and
WHEREAS, the Trust desires to retain the Administrator to render
supervisory and administrative services hereunder with respect to the series
listed on Schedule A, together with any other series subsequently established
by the Trust, and with respect to which the Administrator is willing to do so,
being herein collectively referred to also as the "Funds"; and
WHEREAS, pursuant to an Investment Advisory Contract dated March 30,
2010, between the Trust and PIMCO ("Investment Advisory Contract"), the Trust
has retained PIMCO to provide investment advisory services with respect to the
Funds in the manner and on the terms set forth therein; and
WHEREAS, the Trust wishes to retain PIMCO to provide or procure
supervisory and administrative and other services to the Funds and their
shareholders, including services which may be deemed to constitute
distribution-related services with respect to Class D Shares; and
WHEREAS, PIMCO is willing to furnish supervisory and administrative
services and/or to arrange for such services in the manner and on the terms
hereinafter set forth; and
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, the parties agree as follows:
1. Appointment. The Trust hereby appoints PIMCO as the Administrator to
provide or procure, as applicable, the supervisory and administrative and other
services with respect to the Funds for the period and on the terms set forth in
this Agreement, as supplemented from time to time. The Administrator accepts
such appointment and agrees during such period to render or procure, as
applicable, the services herein set forth for the compensation herein provided.
In the event the Trust establishes and designates additional series with
respect to which it desires to retain the Administrator to render or procure,
as applicable, supervisory and administrative and other services hereunder, it
shall notify the Administrator in writing. If the Administrator is willing to
render or procure such services it shall notify the Trust in writing, whereupon
such additional series shall become a Fund hereunder.
2. Duties. Subject to the general supervision of the Board of Trustees,
the Administrator shall provide or cause to be furnished all supervisory and
administrative and other services reasonably necessary for the operation of the
Funds, including, in the case of Class D Shares, certain shareholder and
distribution-related services, but not including the investment advisory
services provided pursuant to the Investment Advisory Contract with the Trust
or the distribution services provided by the Trust's principal underwriter (the
"Distributor") pursuant to its Distribution Contract with the Trust.
(a) Supervisory and Administrative Services. These services shall include
the following:
(i) The Administrator shall supervise and coordinate matters relating
to the operation of the Funds, including any necessary coordination
among the investment adviser or advisers to the Funds, the custodian,
transfer agent, dividend disbursing agent, and recordkeeping agent
(including pricing and valuation of the Funds), accountants, attorneys,
and other parties performing services or operational functions for the
Funds. In connection with the supervision of the pricing and valuation
of the Funds, the Administrator shall establish such systems and
procedures as are necessary to carry out this function, including
systems and procedures relating to defaulted securities; forensic
reporting and monitoring of securities and derivatives pricing,
including checks and balances against internal models and external
pricing services; tracking and reviewing fair valued securities;
supervising pricing vendors; monitoring for significant events occurring
after the close of trading that may affect the value of portfolio
holdings; and establishing net asset value estimation processes in the
event the custodian cannot produce a net asset value for Shares of a
Fund.
(ii) The Administrator shall provide the Funds, at the
Administrator's expense, with adequate personnel, office space,
communications facilities, and other facilities necessary for the
effective administration of the Funds as contemplated in this Agreement
as well as provide the Funds, at the Administrator's expense, with the
services of a sufficient number of persons competent to perform such
administrative and clerical functions as are necessary to ensure
compliance with federal securities laws and other applicable laws.
(iii) The Administrator shall maintain or supervise the maintenance
by third parties of such books and records of the Trust and the Funds as
may be required by applicable federal or state law, other than the
records and ledgers maintained under the Investment Advisory Contract.
(iv) The Administrator shall prepare or supervise the preparation by
third parties of all federal, state, local, and foreign tax returns and
reports of the Funds required by applicable law.
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(v) The Administrator shall prepare, file, and arrange for the
distribution of proxy materials and periodic reports to shareholders of
the Funds as required by applicable law.
(vi) The Administrator shall prepare and arrange for the filing of
such registration statements and other documents with the SEC and other
federal and state or other regulatory authorities as may be required to
register the Shares of the Funds and qualify the Trust to do business or
as otherwise required by applicable law. The Administrator shall
maintain registration of the Funds' Shares in such other jurisdictions
as it deems necessary and appropriate. The Administrator shall maintain
a review and certification program and internal controls and procedures
in accordance with relevant provisions of the Sarbanes Oxley Act of 2002
as applicable to registered investment companies. The Administrator
shall maintain systems necessary to provide or procure required
disclosure in the Funds' registration statements, shareholder reports,
proxy statements, and similar regulatory documents, and Fund proxy
voting information.
(vii) The Administrator shall take such other action with respect to
the Funds as may be required by applicable law, including without
limitation the rules and regulations of the SEC, the Commodity Futures
Trading Commission, state securities commissions and other governmental
and regulatory agencies. Such actions shall include, but are not limited
to: establishment and maintenance of a compliance program in accordance
with Rule 38a-1 under the 1940 Act, support of the Funds' Chief
Compliance Officer, and systems and procedures necessary to effectuate
the compliance program.
(viii) The Administrator shall provide the Funds with administrative
services to shareholders as necessary, including: the maintenance of a
shareholder call center; shareholder transaction processing; the
provision of certain statistical information and performance of the
Funds; a web servicing platform and internet website; access by PIMCO
representatives to databases to assist with shareholder inquiries and
reports; oversight of anti-money laundering monitoring systems and
procedures; redemption fee application and monitoring systems (if
applicable); anti-market timing monitoring systems and procedures,
including implementation of shareholder information agreements under
Rule 22c-2 under the 1940 Act and associated monitoring systems and
procedures; and processing of client registration applications.
Notwithstanding the foregoing, the Administrator may procure or delegate
provision of these services to third parties with respect to particular
classes of the Funds or particular shareholders that have relationships
with other financial intermediaries that perform similar services.
(b) Other Services. The Administrator shall also procure on behalf of the
Trust and the Funds, and at the expense of the Administrator, the following
persons to provide services to the Funds, to the extent necessary: (i) a
custodian or custodians for the Funds to provide for the safekeeping of the
Funds' assets; (ii) a recordkeeping agent to maintain the portfolio
accounting records for the Funds; (iii) a transfer agent for the Funds; and
(iv) a dividend disbursing agent for the Funds. The Trust may be a party to
any agreement with any of the persons referred to in this Section 2(b).
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(c) Retail Class Services. In addition to the Administrator's
responsibilities as specified in Subsections (a) and (b) above, subject to
the approval or consent of the Board of Trustees, the Administrator, at its
own expense, also shall provide, directly or through persons selected by the
Administrator, to the Class A, Class C and Class R Shares (the "Retail
Classes") of the Funds administrative, recordkeeping, and shareholder
services reasonably required by the Retail Classes of the Funds, which may
include some or all of the following services: (i) transfer agency services
reasonably necessary to meet the increased account activity associated with
Retail Classes; (ii) dividend disbursing services reasonably necessary to
meet the increased number of accounts associated with the Retail Classes;
(iii) preparing and arranging for the distribution of prospectuses,
statements of additional information, proxy materials, periodic reports to
shareholders, and other communications with Retail Class shareholders; and
(iv) taking such other actions and providing or procuring such other
services with respect to the Retail Classes as are reasonably necessary or
desirable.
(d) Special Class D Services. The Administrator shall provide in respect
of Class D Shares (either directly or by procuring through other entities,
including various financial services firms such as broker-dealers and
registered investment advisors ("Service Organizations")) some or all of the
following services and facilities in connection with direct purchases by
shareholders or in connection with products, programs or accounts offered by
such Service Organizations: (i) facilities for placing orders directly for
the purchase of a Fund's Shares and tendering a Fund's Class D Shares for
redemption; (ii) advertising with respect to a Fund's Class D Shares;
(iii) providing information about the Funds; (iv) providing facilities to
answer questions from prospective investors about the Funds; (v) receiving
and answering correspondence, including requests for prospectuses and
statements of additional information; (vi) preparing, printing and
delivering prospectuses and shareholder reports to prospective shareholders;
(vii) assisting investors in applying to purchase Class D Shares and
selecting dividend and other account options; and (viii) shareholder
services provided by a Service Organization that may include, but are not
limited to, the following functions: receiving, aggregating and processing
shareholder orders; furnishing shareholder sub-accounting; providing and
maintaining elective shareholder services such as check writing and wire
transfer services; providing and maintaining pre-authorized investment
plans; communicating periodically with shareholders; acting as the sole
shareholder of record and nominee for shareholders; maintaining accounting
records for shareholders; answering questions and handling correspondence
from shareholders about their accounts; issuing confirmations for
transactions by shareholders; performing similar account administrative
services; providing such shareholder communications and recordkeeping
services as may be required for any program for which the Service
Organization is a sponsor that relies on Rule 3a-4 under the 1940 Act; and
providing such other similar services as may reasonably be requested to the
extent the Service Organization is permitted to do so under applicable
statutes, rules, or regulations.
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The Administrator shall not provide directly hereunder any of the
foregoing services which may cause the Administrator to be engaged in the
business of effecting transactions in securities for the account of others, or
to induce or attempt to induce the purchase or sale of any security, but may
procure such services on behalf of the Trust from certain Service
Organizations. The parties hereto acknowledge that the Administrator may
compensate its affiliate, the Trust's principal underwriter, for certain
services contemplated by this Agreement, including shareholder and
distribution-related services, at the rate of up to 0.25% per annum of all
assets attributable to Class D Shares sold through the Distributor.
The Administrator and the Trust understand that some or all of the
services described in this subparagraph (d) may be deemed to represent services
primarily intended to result in the sale of Class D Shares ("Special Class D
Services"). The Administrator agrees to present reports as to out-of-pocket
expenditures and internal expense allocations of the Administrator and the
Distributor at least quarterly and in a manner that permits the Qualified
Trustees (hereinafter defined) to determine that portion of the fees hereunder
which represents reimbursement in respect of Special Class D Services.
(e) Personnel. The Administrator shall also make its officers and
employees available to the Board of Trustees and officers of the Trust for
consultation and discussions regarding the administration of the Funds and
services provided to the Funds under this Agreement.
(f) Standards; Reports. In performing these services, the Administrator:
(i) Shall conform with the 1940 Act and all rules and regulations
thereunder, with all other applicable federal, state and foreign laws
and regulations, with any applicable procedures adopted by the Trust's
Board of Trustees, and with the provisions of the Trust's Registration
Statement filed on Form N-1A as supplemented or amended from time to
time;
(ii) Will make available to the Trust, promptly upon request, any of
the Funds' books and records as are maintained under this Agreement, and
will furnish to regulatory authorities having the requisite authority
any such books and records and any information or reports in connection
with the Administrator's services under this Agreement that may be
requested in order to ascertain whether the operations of the Trust are
being conducted in a manner consistent with applicable laws and
regulations.
(iii) Will, in addition to reports required by Section 2(d),
regularly report to the Trust's Board of Trustees on the services
provided under this Agreement and will furnish the Trust's Board of
Trustees with respect to the Funds such periodic and special reports as
the Trustees may reasonably request.
(iv) Will comply, to the extent applicable, with the requirements of
Title V of the Xxxxx-Xxxxx-Xxxxxx Act, 15 U.S.C. (S)(S) 6801 et seq., as
may be amended from time to time, and any regulations adopted thereto,
including Regulation S-P of the Securities and Exchange Commission, as
well as with any other applicable federal or state privacy laws and
regulations, including but not limited to the Massachusetts Standards
for the Protection of Personal Information, 201 CMR 17.00, et seq.
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3. Documentation. The Trust has delivered copies of each of the
following documents to the Administrator and will deliver to it all future
amendments and supplements thereto, if any:
(a) the Trust's Registration Statement as filed with the SEC and any
amendments thereto; and
(b) exhibits, powers of attorney, certificates and any and all other
documents relating to or filed in connection with the Registration Statement
described above.
4. Independent Contractor. The Administrator shall for all purposes
herein be deemed to be an independent contractor and shall, unless otherwise
expressly provided herein or authorized by the Board of Trustees of the Trust
from time to time, have no authority to act for or represent the Trust in any
way or otherwise be deemed its agent.
5. Compensation. As compensation for the services rendered under this
Agreement, the Trust shall pay to the Administrator a monthly fee, calculated
as a percentage (on an annual basis) of the average daily value of the net
assets of each of the Funds during the preceding month. The fee rates
applicable to each class of a Fund shall be set forth in a schedule to this
Agreement. The fees payable to the Administrator for all of the Funds shall be
computed and accrued daily and paid monthly. If the Administrator shall serve
for less than any whole month, the foregoing reimbursement shall be prorated.
Any portion of the fees paid hereunder in respect of Class D Shares
representing compensation for the Administrator's and/or the Distributor's
out-of-pocket expenditures and internally allocated expenses in respect of
Special Class D Services to any Fund (as reviewed quarterly by the Trustees
based on the reports described in Section 2(d) above) shall not exceed the rate
of 0.25% per annum of the average daily net assets of such Fund attributable to
Class D Shares. To the extent such out-of-pocket expenditures and internally
allocated expenses exceed such rate, such excess shall be paid by the
Administrator and/or AGID from their own resources (which may include
legitimate profits from serving as investment adviser and/or administrator) and
shall not be used as a basis for justifying or evaluating fees paid hereunder
to the Administrator in respect of services other than the Special Class D
Services.
6. Special Class D Services: Distribution Plan. To the extent that this
Agreement relates to payments made in connection with the distribution of the
Funds' Class D Shares (i.e., Special Class D Services), it shall also
constitute a "distribution plan" and a "related agreement" within the meaning
of Rule 12b-1 under the 1940 Act. As required by said Rule 12b-1 in respect of
distribution plans: (a) the term of this Agreement is as provided in Section 10
below; (b) the Administrator shall provide to the Trustees of the Trust, and
all such Trustees shall review, at least quarterly, a written report of the
amounts expended by the Trust for Special Class D Services and the purposes for
which such expenditures were made; and (c) this Agreement may be terminated as
provided in Section 10(b) below. As required by said Rule 12b-1 in respect of
agreements related to distribution plans: (a) this Agreement may be terminated
as
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provided in Section 10 below; and (b) this Agreement may also terminate in the
circumstances described in Section 15(d) below. This Agreement may not be
amended to increase materially the maximum amount specified in Section 5 (i.e.,
the rate of 0.25% per annum) payable out of Class D assets for Special Class D
Services without approval by a majority of the outstanding Class D Shares (as
defined in Section 2(a)(42) of the 1940 Act in respect of voting securities) of
a Fund. All material amendments to this Agreement (insofar as the relevant
provision constitutes a part of a distribution plan) must be approved by a
majority of the Qualified Trustees. Insofar as this Agreement constitutes a
distribution plan for Class D Shares, its provisions are severable for that
Class.
It is acknowledged and agreed that classes of Shares other than Class D
may have separately documented distribution plans and related agreements.
7. Non-Exclusivity. It is understood that the services of the
Administrator hereunder are not exclusive, and the Administrator shall be free
to render similar services to other investment companies and other clients.
8. Expenses. During the term of this Agreement, the Administrator will
pay all expenses incurred by it in connection with its obligations under this
Agreement, except such expenses as are assumed by the Funds under this
Agreement, and any expenses that are paid under the terms of the Investment
Advisory Contract. The Administrator assumes and shall pay for maintaining its
staff and personnel and shall, at its own expense provide the equipment, office
space, office supplies, including stationery, and facilities necessary to
perform its obligations under this Agreement, including, but not limited to,
communications facilities, computer systems and applications, internet access,
and a web servicing platform and internet website. In addition, the
Administrator shall bear the following expenses under this Agreement:
(a) Expenses of all audits by the Trust's independent public accountants;
(b) Expenses of the Trust's transfer agent, registrar, dividend
disbursing agent, and shareholder recordkeeping services;
(c) Expenses of the Trust's custodial services, including any
recordkeeping services provided by the custodian;
(d) Expenses of obtaining quotations for calculating the value of each
Fund's net assets;
(e) Expenses of obtaining Portfolio Activity Reports for each Fund;
(f) Expenses of maintaining the Trust's tax records;
(g) Costs and/or fees, including legal fees, incident to meetings of the
Trust's shareholders, the preparation, printing and mailings of
prospectuses, notices and proxy statements and reports of the Trust to its
shareholders, the filing of reports with regulatory bodies, the maintenance
of the Trust's existence and qualification to do business, and the expenses
of issuing, redeeming, registering and qualifying for sale, Shares with
federal and state securities authorities;
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(h) The Trust's ordinary legal fees, including the legal fees that arise
in the ordinary course of business for a Delaware statutory trust registered
as an open-end management investment company;
(i) Costs of preparing and printing certificates representing Shares of
the Trust;
(j) The Trust's pro rata portion of the fidelity bond required by
Section 17(g) of the 1940 Act, or other insurance premiums;
(k) Association membership dues; and
(l) Services of Service Organizations rendered in respect of Class D
Shares, to the extent and subject to the conditions set forth in Sections
2(d), 5 and 6 hereof.
The Trust shall bear the following expenses:
(a) Salaries and other compensation or expenses, including travel
expenses, of any of the Trust's executive officers and employees, if any,
who are not officers, directors, shareholders, members, partners or
employees of the Administrator or its subsidiaries or affiliates;
(b) Taxes and governmental fees, if any, levied against the Trust or any
of its Funds;
(c) Brokerage fees and commissions, and other portfolio transaction
expenses incurred for any of the Funds;
(d) Costs, including the interest expenses, of borrowing money;
(e) Fees and expenses of Trustees who are not officers, employees,
partners, shareholders or members of PIMCO or its subsidiaries or
affiliates, including travel expenses, and fees and expenses of legal
counsel retained for the benefit of such Trustees;
(f) Extraordinary expenses, including extraordinary legal expenses, as
may arise including expenses incurred in connection with litigation,
proceedings, other claims and the legal obligations of the Trust to
indemnify its trustees, officers, employees, shareholders, distributors, and
agents with respect thereto;
(g) Organizational and offering expenses of the Trust and the Funds, and
any other expenses which are capitalized in accordance with generally
accepted accounting principles; and
(h) Any expenses allocated or allocable to a specific class of Shares,
including fees paid in respect of classes other than Class D pursuant to a
separate administrative service or distribution plan.
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9. Liability. The Administrator shall give the Trust the benefit of the
Administrator's best efforts in rendering services under this Agreement. The
Administrator may rely on information reasonably believed by it to be accurate
and reliable. As an inducement for the Administrator's undertaking to render
services under this Agreement, the Trust agrees that neither the Administrator
nor its members, officers, directors, or employees shall be subject to any
liability for, or any damages, expenses or losses incurred in connection with,
any act or omission or mistake in judgment connected with or arising out of any
services rendered under this Agreement, except by reason of willful
misfeasance, bad faith, or gross negligence in performance of the
Administrator's duties, or by reason of reckless disregard of the
Administrator's obligations and duties under this Agreement. This provision
shall govern only the liability to the Trust of the Administrator and that of
its members, officers, directors, and employees, and shall in no way govern the
liability to the Trust or the Administrator or provide a defense for any other
person including persons that provide services for the Funds as described in
Section 2 (b), (c) or (d) of this Agreement.
10. Term and Continuation. This Agreement shall take effect as of the
date indicated above, and shall remain in effect, unless sooner terminated as
provided herein, for two years from such date, and shall continue thereafter on
an annual basis with respect to each Fund provided that such continuance is
specifically approved at least annually (a) by the vote of a majority of the
outstanding voting securities (as defined in the 0000 Xxx) of the Fund or by
the Trust's Board of Trustees and (b) by the vote, cast in person at a meeting
called for such purpose, of a majority of the Trust's Trustees who are not
parties to this Agreement or "interested persons" (as defined in the 0000 Xxx)
of any such party and who have no direct or indirect financial interest in the
operation of this Agreement or any agreement related to Special Class D
Services ("Qualified Trustees"). Failure of the Qualified Trustees to renew
this Agreement and/or its termination by shareholder vote, assignment, or
otherwise, shall not preclude the Board of Trustees from approving a substitute
agreement in the manner provided under applicable law.
(a) Except as provided in Section 10(b) below, this Agreement may be
terminated:
(i) by the Trust at any time with respect to the services provided by
the Administrator, without the payment of any penalty, by vote of a
majority of the entire Board of Trustees of the Trust or by a vote of a
majority of the outstanding voting shares of the Trust or, with respect
to a particular Fund or class, by vote of a majority of the outstanding
voting shares of such Fund or class, on 60 days' written notice to the
Administrator;
(ii) by the Administrator at any time, without the payment of any
penalty, upon 60 days' written notice to the Trust.
(b) insofar as it relates to Class D Shares of any Fund(s), at any time,
without the payment of any penalty, by a majority of the Qualified Trustees
or by vote of a majority of the outstanding Class D Shares.
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11. Use of Name. It is understood that the names "Pacific Investment
Management Company LLC" or "PIMCO" or any derivative thereof or logo associated
with those names and other servicemarks and trademarks owned by the
Administrator or its affiliates are the valuable property of the Administrator
and its affiliates, and that the Trust and/or the Funds may use such names (or
derivatives or logos) only as permitted by the Administrator.
12. Notices. Notices of any kind to be given to the Administrator by the
Trust shall be in writing and shall be duly given if mailed or delivered to the
Administrator at 000 Xxxxxxx Xxxxxx Xxxxx, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, or
to such other address or to such individual as shall be specified by the
Administrator. Notices of any kind to be given to the Trust by the
Administrator shall be in writing and shall be duly given if mailed or
delivered to 000 Xxxxxxx Xxxxxx Xxxxx, Xxxxxxx Xxxxx, Xxxxxxxxxx 00000, or to
such other address or to such individual as shall be specified by the Trust.
13. Trust Obligation. Notice is hereby given that the Agreement has been
executed on behalf of the Trust by an officer of the Trust in his or her
capacity as an officer and not individually. The obligations of this Agreement
shall only be binding upon the assets and property of the Trust and shall not
be binding upon any trustee, officer, or shareholder of the Trust individually.
14. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original.
15. Miscellaneous. (a) This Agreement shall be governed by the laws of
California, provided that nothing herein shall be construed in a manner
inconsistent with the 1940 Act, the Investment Advisers Act of 1940, or any
rule or order of the SEC thereunder.
(b) If any provision of this Agreement shall be held or made invalid by a
court decision, statute, rule or otherwise, the remainder of this Agreement
shall not be affected thereby and, to this extent, the provisions of this
Agreement shall be deemed to be severable. To the extent that any provision
of this Agreement shall be held or made invalid by a court decision,
statute, rule or otherwise with regard to any party, hereunder, such
provisions with respect to other parties hereto shall not be affected
thereby.
(c) The captions in this Agreement are included for convenience only and
in no way define any of the provisions hereof or otherwise affect their
construction or effect.
(d) This Agreement may not be assigned by the Trust or the Administrator
without the consent of the other party. This Agreement will terminate with
respect to the Class D Shares in the event of its "assignment" (as defined
in the 1940 Act).
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IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their officers designated below on the day and year first above
written.
PIMCO EQUITY SERIES
By:
------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Vice President
PACIFIC INVESTMENT MANAGEMENT COMPANY
LLC
By:
------------------------------
Name: Xxxxx X. Xxxxxx
Title: Managing Director
SCHEDULE A
SCHEDULE TO SUPERVISION AND ADMINISTRATION AGREEMENT
PIMCO EQUITY SERIES
AS OF MARCH 30, 2010
Institutional and Administrative Classes (%) - Supervisory and Administrative
Fee Rates
CORE OTHER
FUND EXPENSES/1/ EXPENSES TOTAL
---- ---------- -------- -----
EqS Pathfinder/2/................................... 0.10 0.20 0.30
--------
/1/ Core Expenses includes custody, portfolio accounting and tax preparation
expenses.
/2/ Refer to the Expense Limitation Agreement for certain fee waivers.
SCHEDULE A
SCHEDULE TO SUPERVISION AND ADMINISTRATION AGREEMENT
PIMCO EQUITY SERIES
AS OF MARCH 30, 2010
Classes A and C (%) - Supervisory and Administrative Fee Rates
CORE OTHER
FUND EXPENSES/1/ EXPENSES TOTAL
---- ---------- -------- -----
EqS Pathfinder/2/................................... 0.10 0.30 0.40
--------
/1/ Core Expenses includes custody, portfolio accounting and tax preparation
expenses.
/2/ Refer to the Expense Limitation Agreement for certain fee waivers.
SCHEDULE A
SCHEDULE TO SUPERVISION AND ADMINISTRATION AGREEMENT
PIMCO EQUITY SERIES
AS OF MARCH 30, 2010
Class D (%) - Supervisory and Administrative Fee Rates
CORE OTHER
FUND EXPENSES/1/ EXPENSES TOTAL
---- ---------- -------- -----
EqS Pathfinder/2/................................... 0.10 0.55 0.65
--------
/1/ Core Expenses includes custody, portfolio accounting and tax preparation
expenses.
/2/ Refer to the Expense Limitation Agreement for certain fee waivers.
SCHEDULE A
SCHEDULE TO SUPERVISION AND ADMINISTRATION AGREEMENT
PIMCO EQUITY SERIES
AS OF MARCH 30, 2010
Class R (%) - Supervisory and Administrative Fee Rates
CORE OTHER
FUND EXPENSES/1/ EXPENSES TOTAL
---- ---------- -------- -----
EqS Pathfinder/2/................................... 0.10 0.30 0.40
--------
/1/ Core Expenses includes custody, portfolio accounting and tax preparation
expenses.
/2/ Refer to the Expense Limitation Agreement for certain fee waivers.
SCHEDULE TO SUPERVISION AND ADMINISTRATION AGREEMENT
PIMCO EQUITY SERIES
AS OF MARCH 30, 2010
Class P (%) - Supervisory and Administrative Fee Rates
CORE OTHER
FUND EXPENSES/1/ EXPENSES TOTAL
---- ---------- -------- -----
EqS Pathfinder/2/................................... 0.10 0.30 0.40
--------
/1/ Core Expenses includes custody, portfolio accounting and tax preparation
expenses.
/2/ Refer to the Expense Limitation Agreement for certain fee waivers.