FORM OF NEUBERGER BERMAN EQUITY FUNDS
INSTITUTIONAL CLASS
ADMINISTRATION AGREEMENT
This Agreement is made as of December 16, 2000, between Neuberger
Berman Equity Funds, a Delaware business trust ("Trust"), and Neuberger Berman
Management Inc., a New York corporation ("Administrator") with respect to the
Institutional Class of shares.
WHEREAS, the Trust is registered under the Investment Company Act of 1940,
as amended ("1940 Act"), as an open-end, diversified management investment
company and may establish several separate series of shares ("Series"), with
each Series having its own assets and investment policies, and with each Series
having one or more classes of shares;
WHEREAS, the Trust desires to retain the Administrator to furnish
administrative services, including shareholder accounting, recordkeeping, and
other services to shareholders, to each Series listed in Schedule A attached
hereto (as it may be amended from time to time, or, as appropriate, the
Institutional Class of each such Series), and the Administrator is willing to
furnish such services;
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, the parties agree as follows:
1. SERVICES OF THE ADMINISTRATOR.
1.1 ADMINISTRATIVE SERVICES. The Administrator shall supervise the
business and affairs of each Series and its Institutional Class and shall
provide such services required for effective administration of such Series and
their Institutional Class as are not provided by employees or other agents
engaged by such Series; PROVIDED, that the Administrator shall not have any
obligation to provide under this Agreement any services related to the
distribution of a Series's shares, or any other services that are the subject of
a separate agreement or arrangement between a Series and the Administrator.
Subject to the foregoing, in providing administrative services hereunder, the
Administrator shall:
1.1.1 OFFICE SPACE, EQUIPMENT AND FACILITIES. Furnish without
cost to each Series and its Institutional Class, or pay the cost of, such office
space, office equipment and office facilities as are adequate for the needs of
the Series and its Institutional Class;
1.1.2 PERSONNEL. Provide, without remuneration from or other
cost to each Series, the services of individuals competent to perform all of the
executive, administrative and clerical functions of each Series and its
Institutional Class that are not performed by employees or other agents engaged
by the Series or by the Administrator acting in some other capacity pursuant to
a separate agreement or arrangement with the Series;
1.1.3 AGENTS. Assist each Series in selecting and coordinating
the activities of the other agents engaged by the Series, including the Series's