Exhibit (d)32
Xxxx Xxxxxxx Variable Series Trust I
Xxxxxxx X. Xxx Xxxx
Chairman and Trustee
[XXXXXXX LOGO]
June 21, 2001
SSgA Funds Management, Inc.
Two International Place
34th Floor
Boston, MA 02110
Attn: Xxxx X. Xxxxxx, Esq.
Principal and Chief Legal Counsel
Re: Sub-Investment Management Agreement
dated as of March 18, 1997 and amended May 1,2001
-------------------------------------------------
Dear Xx. Xxxxxx:
This letter will memorialize our mutual agreement to amend Schedule I
to the above-referenced Sub-Investment Management Agreement relating to the
Equity Index Portfolio, to adjust the current fee schedule, effective as of July
1, 2001. Attached is a revised copy of Schedule I which introduces a 5 basis
point charge for the first $50 million of net assets, introduces a 4 basis point
charge for the next $50 million, introduces a 2 basis point charge for the next
$300 million, and introduces a 1 basis point charge for amounts over $400
million. Please substitute copies of the attached Schedule I for the old copies
of Schedule I in your files.
Kindly acknowledge receipt of this letter and the attachment, and
indicate your agreement to the amendment of Schedule I, by signing and returning
the duplicate of this letter. Thank you.
XXXX XXXXXXX XXXX XXXXXXX VARIABLE
LIFE INSURANCE COMPANY SERIES TRUST I
By: /s/ Xxxxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxx Xxxx
--------------------------- -------------------------------
Xxxxxx X. Xxxxxxx Xxxxxxx X. Xxx Xxxx
Senior Vice President & Chairman and Trustee
Chief Investment Strategist
Received and agreed to:
SSgA Funds Management, Inc.
By: /s/ Xxxxxxx X. Xxxx, Xx.
-------------------------------
Name: Xxxxxxx X. Xxxx, Xx.
Title: President
SCHEDULE I
(As of July 1, 2001)
FEES
----
Equity Index
------------
Current Net Assets Under Management Sub-Investment Management Fee
----------------------------------- -----------------------------
On the first $50,000,000 Five (5) basis points (0.050%)
On the next $50,000,000 Four (4) basis points (0.040%)
On the next $300,000,000 Two (2) basis points (0.020%)
On amounts over $400,000,000 One (1) basis point (0.010%)
