Exhibit 99-(8)(x): Amendment, effective July 1, 2002 to Letter Agreement
dated August 8, 1997 between Janus Capital
Corporation (the "Adviser"), and ReliaStar Life Insurance Company
AMENDMENT TO LETTER AGREEMENT
This Amendment to the letter agreement ("Agreement") dated August 8,
1997, between Janus Capital Corporation (the "Adviser"), and ReliaStar Life
Insurance Company (the "Company") is effective as of July 1, 2001.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend and restate Section 2 of the Agreement
as follows:
2. Service Fee. In consideration of the anticipated administrative expense
savings resulting to the Trust from the Company's services, the Adviser
agrees to pay the Company a fee ("Service Fee"), computed daily and
paid monthly in arrears, at an annual rate equal to _______ (XX) basis
points (X.XX%) of the average monthly value of the Institutional Shares
of the Portfolios held in the Accounts. For purposes of this Paragraph
2, the average monthly value of the Institutional Shares of the
Portfolios will be based on the sum of the daily net asset values (as
calculated by the Portfolios) for each calendar day in a month divided
by the number of calendar days in the month.
The parties also agree that the Agreement only relates to Institutional
Shares of the Portfolios and not to Service Shares or any other class of shares.
All other terms of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused their duly authorized
officers to execute this Amendment as of the date and year first above written.
RELIASTAR LIFE INSURANCE COMPANY JANUS CAPITAL CORPORATION
By: By:
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Name: Xxxx Xxxxxxx Name: Xxxxxx X. Xxxx
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Title: Vice President Title: Vice President
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