EXHIBIT (h)(21) ADMINISTRATIVE SERVICES AGREEMENT THIS AGREEMENT made as of November 8, 2002 by and between the NICHOLAS-APPLEGATE INSTITUTIONAL FUNDS, a Delaware business trust (the "Trust"), and NICHOLAS-APPLEGATE CAPITAL MANAGEMENT, a Delaware...Administrative Services Agreement • November 22nd, 2002 • Nicholas Applegate Institutional Funds • California
November 8, 2002 Nicholas-Applegate Capital Management 600 West Broadway, 29th Floor San Diego, California 92101 Ladies and Gentlemen: This will confirm our agreement that Schedule A to the Investment Advisory Agreement between us dated January 31,...Nicholas Applegate Institutional Funds • November 22nd, 2002
November 8, 2002 Nicholas-Applegate Capital Management 600 West Broadway, 29th Floor San Diego, California 92101 Ladies and Gentlemen: This will confirm our agreement pursuant to which Nicholas-Applegate Capital Management (the "Adviser") will waive...Nicholas Applegate Institutional Funds • November 22nd, 2002
This will confirm our agreement pursuant to which Nicholas-Applegate Capital Management (the "Adviser") will waive its fees and absorb other operating expenses of the various series of the Nicholas-Applegate Institutional Funds so that total operating expenses, excluding taxes, interest, brokerage, the expenses incurred from the creation and operation of the Mauritius entity, extraordinary expenses and expenses paid by directed brokerage and other offset arrangements, do not exceed the percentages set forth on the following page through March 31, 2003. In subsequent years, overall operating expenses for each series will not fall below the applicable percentage limitation until the Adviser has been fully reimbursed for fees foregone and expenses paid under this agreement, as each series will reimburse the Adviser in subsequent years when operating expenses (before reimbursement) are less than the applicable percentage limitation.
