AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC, a Delaware
corporation and registered investment adviser ("Sub-Adviser").
WHEREAS, the Adviser and Sub-Adviser entered into an Investment
Sub-Advisory Agreement dated as of January 31, 2001 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to the investment portfolios of the JNL Series Trust.
WHEREAS, pursuant to the Agreement, the Adviser agreed to pay the
Sub-Adviser for the services provided and the expenses assumed by the
Sub-Advisor a sub-advisory fee as set forth on Schedule B to the Agreement, and
the Sub-Adviser agreed to accept such sub-advisory fee as full compensation
under the Agreement for such services and expenses.
WHEREAS, in order to effectuate a fee reduction for the JNL/S&P Managed
Growth Fund; JNL/S&P Managed Conservative Fund; JNL/S&P Managed Moderate Growth
Fund; JNL/S&P Managed Moderate Fund; JNL/S&P Managed Aggressive Growth Fund;
JNL/S&P Retirement Income Fund; JNL/S&P Retirement 2015 Fund; JNL/S&P Retirement
2020 Fund; JNL/S&P Retirement 2025 Fund; JNL/S&P Moderate Retirement Strategy
Fund; JNL/S&P Moderate Growth Retirement Strategy Fund; JNL/S&P Growth
Retirement Strategy Fund; JNL/S&P Disciplined Moderate Fund; JNL/S&P Disciplined
Moderate Growth Fund; and the JNL/S&P Disciplined Growth Fund, Schedule B must
be amended.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to amend the Agreement as follows:
1. Schedule B to the Agreement is hereby deleted and replaced in its entirety
with Schedule B dated July 1, 2008, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 1st day of July, 2008.
XXXXXXX NATIONAL STANDARD & POOR'S
ASSET MANAGEMENT, LLC INVESTMENT ADVISORY SERVICES LLC
By: ______________________________ By: ______________________________
Name: XXXX X. XXXXX Name:______________________________
Title: PRESIDENT Title: ____________________________
SCHEDULE B
JULY 1, 2008
(Compensation)
----------------------------------------------------------------------------
FUNDS
----------------------------------------------------------------------------
----------------------------------------------------------------------------
JNL/S&P Managed Growth Fund
----------------------------------------------------------------------------
JNL/S&P Managed Conservative Fund
----------------------------------------------------------------------------
JNL/S&P Managed Moderate Growth Fund
----------------------------------------------------------------------------
JNL/S&P Managed Moderate Fund
----------------------------------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund
----------------------------------------------------------------------------
JNL/S&P Retirement Income Fund
----------------------------------------------------------------------------
JNL/S&P Retirement 2015 Fund
----------------------------------------------------------------------------
JNL/S&P Retirement 2020 Fund
----------------------------------------------------------------------------
JNL/S&P Retirement 2025 Fund
----------------------------------------------------------------------------
JNL/S&P Moderate Retirement Strategy Fund
----------------------------------------------------------------------------
JNL/S&P Moderate Growth Retirement Strategy Fund
----------------------------------------------------------------------------
JNL/S&P Growth Retirement Strategy Fund
----------------------------------------------------------------------------
JNL/S&P Disciplined Moderate Fund
----------------------------------------------------------------------------
JNL/S&P Disciplined Moderate Growth Fund
----------------------------------------------------------------------------
JNL/S&P Disciplined Growth Fund
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
$0 to $5 Billion 0.04%
$5 Billion to $9 Billion 0.035%
Over $9 Billion 0.03%
------------------------------------------------------- --------------------
----------------------------------------------------------------------------
THE ASSETS OF THE FUNDS ARE AGGREGATED FOR PURPOSES OF CALCULATING THE
SUB-ADVISORY FEE.
----------------------------------------------------------------------------
JNL/S&P Competitive Advantage Fund
----------------------------------------------------------------------------
JNL/S&P Dividend Income & Growth Fund
----------------------------------------------------------------------------
JNL/S&P Intrinsic Value Fund
----------------------------------------------------------------------------
JNL/S&P Total Yield Fund
------------------------------------------------------- --------------------
ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
$0 to $1Billion 0.08%
Next $2 Billion 0.07%
Over $3 Billion 0.05%
------------------------------------------------------- --------------------
----------------------------------------------------------------------------
THE ASSETS OF THE FUNDS ARE AGGREGATED FOR PURPOSES OF CALCULATING THE
SUB-ADVISORY FEE.
