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Exhibit 23(d)20
Small Cap Value
AMENDMENT TO SUBINVESTMENT MANAGEMENT AGREEMENT
This amendment ("Amendment") is made as of March 12, 2003 by and among Xxxx
Xxxxxxx Variable Series Trust I (the "Series"), X. Xxxx Price Associates, Inc.
("Adviser"), and Xxxx Xxxxxxx Life Insurance Company, a Massachusetts
corporation formerly known as "Xxxx Xxxxxxx Mutual Life Insurance Company"
("JHLICO").
RECITALS
A. Series, Adviser and JHLICO are parties to that certain
Sub-Investment Management Agreement among Xxxx Xxxxxxx Variable Series
Trust I, X. Xxxx Price Associates, Inc. and Xxxx Xxxxxxx Life Insurance
Company dated May1, 2001, as amended July 1, 2001, (the "Agreement")
wherein Adviser is appointed as sub-investment manager of the Small Cap
Value Fund ( "Subject Fund").
B. The parties hereto desire to amend the terms of the Agreement in
accordance with Rule 12d3-1 under the Investment Company Act of 1940
pursuant to the terms of this Amendment.
AMENDMENT
Now, therefore, for good and valuable consideration, receipt whereof is
hereby acknowledged, the parties hereby agree as follows:
1. Recitals A and B are incorporated herein and made a part hereof.
2. X. Xxxx Price Associates, Inc. will not consult with any other
sub-manager to the Small Cap Value Fund or to any other Portfolio of the
Series concerning transactions of the Small Cap Value Fund in securities or
other assets, except as such consultations may be reasonably necessary in
order to ensure compliance with paragraphs (a) and (b) of Rule 12d3-1 under
the 1940 Act.
3. This Amendment may be executed in two or more counterparts which
together shall constitute one instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the day first set forth above.
XXXX XXXXXXX VARIABLE
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SERIES TRUST I
By: /s/ Xxxxxxx X. Xxx Xxxx
-----------------------------------
Name: Xxxxxxx X. Xxx Xxxx
Title: President and CEO
XXXX XXXXXXX LIFE
INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Senior Vice President and Chief Investment Strategist
X. Xxxx Price Associates, Inc.
By: /s/ Xxxxxxx X. Xxxxxx
-----------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Vice President
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