Exhibit 99.d(xiii)
AMENDMENT TO SUB-INVESTMENT ADVISORY AGREEMENT
This Amendment is made as of July 1, 2003 between Janus Capital Management
LLC, a Delaware limited liability company ("JCM"), and HL Investment Advisors,
LLC, a Connecticut limited liability company (the "Investment Manager").
BACKGROUND
A. JCM and Investment Manager are parties to a Sub-Investment Advisory
Agreement dated April 30, 2003 (the "Agreement").
B. The parties wish to amend the Agreement as set forth below.
AMENDMENT
For good and valuable consideration, the receipt of which is acknowledged,
the parties agree as follows:
1. The following shall be added as Section 1(f) of the Agreement:
"JCM will not consult with any other subadviser engaged by Investment
Manager with respect to transactions in securities or other assets
concerning the Fund or another subadvised fund, except to the extent
permitted by certain exemptive rules under the 1940 Act that permit
certain transactions with a subadviser or its affiliates."
2. The Agreement, as supplemented by this Amendment, is ratified and
confirmed.
3. This Amendment may be executed in two or more counterparts which
together shall constitute one instrument.
JANUS CAPITAL MANAGEMENT LLC HL INVESTMENT ADVISORS, LLC
By:/s/ Xxxxxx X. Xxxx By:/s/ Xxxxx X. Xxxx
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Name: Xxxxxx X. Xxxx Name: Xxxxx X. Xxxx
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Title: Vice President Title: Vice President
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