Amendment to Administrative Fee Waiver Agreement Between JNL Series Trust and Jackson National Asset Management, LLC
Ex. 99.28(h)(3)(vi)
Amendment to
Administrative Fee Waiver Agreement
Between JNL Series Trust and
Xxxxxxx National Asset Management, LLC
This Amendment is made by and between JNL Series Trust (the “Trust”) on behalf of each of its series of shares (each a “Fund” and collectively, the “Funds”) listed on Schedule A and Xxxxxxx National Asset Management, LLC (the “Administrator”).
Whereas, the Trust and the Administrator (the “Parties”) entered into an Administrative Fee Waiver Agreement dated September 25, 2017 (the “Agreement”), whereby the Administrator agreed to waive, for each Fund listed on Schedule A, a portion of its administrative fee, in the amounts listed on Schedule A, as it may be amended and approved by the Board of Trustees of the Trust (the “Board”) from time to time.
Whereas, the Board has approved (i) new fee waivers for certain Funds of the Trust (“New Fee Waivers”), (ii) an amended fee waiver for one Fund of the Trust (“Amended Fee Waiver”), (iii) redomiciliation of certain Funds (each, formerly, a fund of Xxxxxxx Variable Series Trust or JNL Variable Fund LLC) into a new Fund of the Trust (“Redomiciliations/New Funds”), (iv) mergers for certain Funds of the Trust (“Fund Mergers”), and (v) a fund name change for one Fund of the Trust (“Fund Name Change”), as outlined below, effective April 27, 2020:
New Fee Waivers
| 1) | JNL S&P 500 Index Fund; |
| 2) | JNL/Mellon Emerging Markets Index Fund; |
| 3) | JNL/RAFI® Fundamental Asia Developed Fund; and |
| 4) | JNL/RAFI® Fundamental Europe Fund. |
Amended Fee Waiver
| 1) | JNL/Vanguard Moderate ETF Allocation Fund. |
Redomiciliations/New Funds
Formerly, a fund of Xxxxxxx Variable Series Trust:
| 1) | JNL/DFA U.S. Small Cap Fund. |
Each, formerly, a fund of JNL Variable Fund LLC:
| 1) | JNL/Mellon DowSM Index Fund; |
| 2) | JNL/Mellon MSCI World Index Fund; |
| 3) | JNL/Mellon Nasdaq® 100 Index Fund; |
| 4) | JNL/Mellon Communication Services Sector Fund; |
| 5) | JNL/Mellon Consumer Discretionary Sector Fund; |
| 6) | JNL/Mellon Energy Sector Fund; |
| 7) | JNL/Mellon Financial Sector Fund; |
| 8) | JNL/Mellon Healthcare Sector Fund; and |
| 9) | JNL/Mellon Information Technology Sector Fund. |
Fund Mergers
| 1) | JNL/Mellon S&P 1500 Growth Index Fund; |
| 2) | JNL/Mellon S&P 1500 Value Index Fund; and |
| 3) | JNL/S&P Mid 3 Fund. |
Fund Name Change
| 1) | JNL/S&P International 5 Fund to JNL/Xxxxxxx Xxxxx International 5 Fund. |
Whereas, the Parties have agreed to amend Schedule A of the Agreement to add each new Fund and each Fund’s respective fee waiver, to amend a fee waiver for one Fund, to remove the merged Funds, and to update the name of one Fund, effective April 27, 2020.
Now Therefore, in consideration of the mutual covenants herein contained, the Parties hereby agree to amend the Agreement as follows:
| 1) | Schedule A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated April 27, 2020, attached hereto. |
| 2) | Except as specifically amended hereby, the Agreement shall remain in full force and effect in accordance with its terms. |
| 3) | Each of the Parties represents and warrants to the others that it has full authority to enter into this Amendment upon the terms and conditions hereof and that the individual executing this Amendment is duly authorized to bind the respective party to this Amendment. |
| 4) | This Amendment may be executed in one or more counterparts, which together shall constitute one document. |
In Witness Whereof, the Parties have caused this Amendment to be executed, effective April 27, 2020.
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Xxxxxxx National Asset Management, LLC |
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By: |
/s/ Xxxxxxx X. Xxxxxx |
By: |
/s/ Xxxx X. Xxxxx |
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| Name: | Xxxxxxx X. Xxxxxx | Name: | Xxxx X. Xxxxx | ||
| Title: | Assistant Secretary | Title: | President and CEO | ||
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Schedule A
Dated April 27, 2020
(List of Funds)
| Fund | Class A Waiver | Class I Waiver |
| JNL/DFA Growth Allocation Fund | None | 0.05% |
| JNL/DFA International Core Equity Fund | None | 0.05% |
| JNL/DFA Moderate Growth Allocation Fund | None | 0.05% |
| JNL/DFA U.S. Core Equity Fund | None | 0.05% |
| JNL/DFA U.S. Small Cap Fund | None | 0.05% |
| JNL/Xxxxxxx Xxxxx International 5 Fund | None | 0.05% |
| JNL/Mellon Communication Services Sector Fund | None | 0.05% |
| JNL/Mellon Consumer Discretionary Sector fund | None | 0.05% |
| JNL/Mellon Consumer Staples Sector Fund | None | 0.05% |
| JNL/Mellon DowSM Index Fund | None | 0.05% |
| JNL/Mellon Emerging Markets Index Fund | None | 0.05% |
| JNL/Mellon Energy Sector Fund | None | 0.05% |
| JNL/Mellon Financial Sector Fund | None | 0.05% |
| JNL/Mellon Healthcare Sector Fund | None | 0.05% |
| JNL/Mellon Industrials Sector Fund | None | 0.05% |
| JNL/Mellon Information Technology Sector Fund | None | 0.05% |
| JNL/Mellon Materials Sector Fund | None | 0.05% |
| JNL/Mellon MSCI KLD 400 Social Index Fund | None | 0.05% |
| JNL/Mellon MSCI World Index Fund | None | 0.05% |
| JNL/Mellon Nasdaq® 100 Index Fund | None | 0.05% |
| JNL/Mellon Real Estate Sector Fund | None | 0.05% |
| JNL/Mellon Utilities Sector Fund | None | 0.05% |
| JNL/RAFI® Fundamental Asia Developed Fund | None | 0.05% |
| JNL/RAFI® Fundamental Europe Fund | None | 0.05% |
| JNL/RAFI® Fundamental U.S. Small Cap Fund | None | 0.05% |
| JNL S&P 500 Index Fund | None | 0.06% |
| JNL/Vanguard Growth ETF Allocation Fund | None | 0.12% |
| JNL/Vanguard Moderate ETF Allocation Fund | None | 0.13% |
| JNL/Vanguard Moderate Growth ETF Allocation Fund | None | 0.12% |
| A-1 |
