Exhibit (d)5
AMENDMENT
TO
INVESTMENT MANAGMENT AGREEMENTS
AMENDMENT to Investment Management Agreements dated April 12, 1988, April 12,
1988, April 15, 1994, March 14, 1996 and April 14 1998 by and between Xxxx
Xxxxxxx Variable Series Trust I and Xxxx Xxxxxxx Mutual Life Insurance Company
(such agreements collectively referred to herein as "Agreements").
The Agreements are each amended, effective April 23, 1999, by deleting
the last paragraph of Section 5. INVESTMENT ADVISORY FEE AND EXPENSE LIMITATION
thereof and inserting the following in its place:
For any fiscal year in which the normal operating
costs and expenses of any Portfolio of the Series, exclusive
of the investment advisory fee, interest, brokerage
commissions, taxes and extraordinary expenses outside the
control of JHMLICO exceed 0.10% of that Portfolio's average
daily net assets, JHMLICO will reimburse that Portfolio
promptly after the end of the fiscal year in an amount equal
to such excess. In the event of termination of this Agreement
as of a date other than the last day of the Series' fiscal
year, JHMLICO shall pay any Portfolio of Series the amount by
which such expenses incurred by that Portfolio prior to the
date of termination exceeds a pro rata portion of the expense
limitation.
All other terms and provisions of the Agreements shall remain unchanged
and in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and to take effect on the date hereinabove specified.
XXXX XXXXXXX VARIABLE SERIES TRUST I
ATTEST:
/s/Xxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxx
Title: Treasurer
XXXX XXXXXXX MUTUAL LIFE INSURANCE COMPANY
ATTEST:
/s/ Xxxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxxxx
Title: Vice President
