Exhibit (d)28
Xxxx Xxxxxxx Variable Series Trust I
Xxxxxxx X. Xxx Xxxx
Chairman and Trustee
June 21, 2001
X. Xxxx Price International, Inc.
000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Attn: Xxxxxx Xxxxx
Assistant Vice President
Re: Sub-Investment Management Agreement
dated as of November 1, 2000
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Dear Xx. Xxxxx:
This letter will memorialize our mutual agreement to amend Schedule I
to the above-referenced Sub-Investment Management Agreement, relating to the
International Opportunities Portfolio, to adjust the current fee schedule
effective as of July 1, 2001. Attached is a revised copy of Schedule I which
caps the 50 basis point charge when amounts under management are $500 million
and introduces a 45 basis point charge for all amounts under management when Net
Assets are $500 million or more.
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:
X. Xxxx Price International, Inc.
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Vice President
SCHEDULE I
(As of July 1, 2001)
FEES
International Opportunities
---------------------------
Current Net Assets Under Management Sub-Investment Management Fee
----------------------------------- -----------------------------
On the first $20,000,000 Seventy Five (75) basis points (0.75%)
On the next $30,000 000 Sixty (60) basis points (0.60%)
On the next $150,000,000 Fifty (50) basis points (0.50%)
When Amounts under Management are
more than $200 million but less than
$500 million: 50 basis points (0.50%) per annum on
all Net Assets
When amounts under Management are
$500 million or more: 45 basis points (0.45%) per annum on
all Net Assets
