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Exhibit 23(d)18
Large Cap Value CORE
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"), Xxxxxxx Sachs Asset Management
("Adviser"), a business unit of the Investment Management Division of Xxxxxxx,
Xxxxx & Co. 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, Xxxxxxx Sachs Asset Management and Xxxx Xxxxxxx Life Insurance
Company dated August 17, 1999, as amended July 1, 2001, (the "Agreement")
wherein Adviser is appointed as sub-investment manager of the Large Cap
Value CORE Fund ("Large Cap Value CORE Portfolio").
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. Xxxxxxx Sachs Asset Management will not consult with any other
sub-manager to the Large Cap Value CORE Portfolio or to any other
Portfolio of the Series concerning transactions of the Large Cap Value
CORE Portfolio 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.
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XXXX XXXXXXX VARIABLE
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
Xxxxxxx Sachs Asset Management, a business unit of the Investment Management
Division of Xxxxxxx, Xxxxx & Co.
By: /s/ Xxxxx X. XxXxxxxx
--------------------------------------
Name Xxxxx X. XxXxxxxx
Title: Managing Director
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