Exhibit D(22)
Form of
AMENDMENT TO SUB-INVESTMENT MANAGEMENT AGREEMENT
This Amendment to Investment Advisory Agreement (the "Agreement") is made as of
October 1, 2003, between Xxxx Xxxxxxx Life Insurance Company ("JHLICO") and
Xxxxxx Xxxxxxx Investment Management Inc. (formerly, Xxxxxx Xxxxxxx Xxxx Xxxxxx
Investment Management Inc.) ("Xxxxxx Xxxxxxx"), and approved by Xxxx Xxxxxxx
Variable Series Trust I, a Massachusetts business trust (the "Trust").
WHEREAS, Xxxxxx Xxxxxxx currently serves as an investment sub-adviser to
the Trust's Real Estate Equity Fund, pursuant to a Sub-Investment Management
Agreement dated November 1, 2000, as may be amended thereafter (the
"Agreement"); and
WHEREAS, JHLICO, Xxxxxx Xxxxxxx and the Trust wish to amend the fee
schedule set forth in Schedule 1 to the Agreement.
NOW, THEREFORE, WITNESSETH: in consideration of the foregoing and the
mutual agreements contained herein, the parties hereto agree as follows:
1. Schedule 1 to the Agreement is hereby deleted and replaced in its
entirety with the attached revised Schedule 1, and all references in the
Agreement to Schedule 1 shall be deemed to refer to the attached Schedule 1.
2. Except as provided herein, the Agreement shall remain in full force
and effect. This Amendment and the Agreement, as amended, constitute the entire
agreement between the parties hereto pertaining to the subject matter hereof and
fully supersede any and all prior agreements or understandings between the
parties hereto pertaining to the subject matter hereof. In the event of any
conflict between the terms of this Amendment and the Agreement, the terms of
this Amendment shall control. Defined terms used in this Amendment shall have
the respective meanings specified in the Agreement.
3. This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument, and shall be
binding upon the parties and their respective successors and assigns.
4. This Amendment shall be effective as of the date written above.
[Remainder of page left intentionally blank.]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and delivered by their duly authorized officers as of the date first
above written.
XXXX XXXXXXX LIFE INSURANCE COMPANY XXXXXX XXXXXXX INVESTMENT
MANAGEMENT INC.
By: By:
----------------------------------- -----------------------------------
Name: Name:
Title: Title:
XXXX XXXXXXX VARIABLE SERIES
TRUST I
By:
-----------------------------------
Name:
Title:
SCHEDULE I
(Effective October 1, 2003)
Fees
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Real Estate Equity Fund:
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CURRENT NET SUBJECT ASSETS UNDER SUB-ADVISORY FEE
MANAGEMENT
On the first $50 million 65 basis points per annum
On the next $50 million 55 basis points per annum
On the next $100 million 50 basis points per annum
On amounts over $200 million 40 basis points per annum
