Amendment to the Investment Sub-Advisory Agreement Between Jackson National Asset Management, LLC and BlueBay Asset Management LLP
Amendment
to the Investment Sub-Advisory Agreement Between
Xxxxxxx National Asset Management, LLC
and BlueBay Asset Management LLP
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser ("Adviser"), and BlueBay Asset Management LLP ("Sub-Adviser"), a Limited Liability Partnership existing under the laws of the United Kingdom and a registered investment adviser.
Whereas, the Adviser and the Sub-Adviser entered into an Investment Sub-Advisory Agreement effective as of the 27th day of April, 2015 ("Agreement"), whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment advisory services to certain investment portfolios of JNL Series Trust ("Trust"), as listed on Schedule A to the Agreement.
Whereas, the parties have agreed to amend the following section of the Agreement:
Section 2. "Services to be Rendered by the Sub-Adviser to the Trust"
Now Therefore, in consideration of the mutual covenants herein contained, the parties hereby agree to amend the Agreement as follows:
Delete paragraph G. in Section 2. "Services to be Rendered by the Sub-Adviser to the Trust" in its entirety and replace it with the following:
(A) The Sub-Adviser at its expense, will furnish: (i) all necessary facilities and personnel, including salaries, expenses, and fees of any personnel required for the Sub-Adviser to faithfully perform its duties under this Agreement; and (ii) administrative facilities, including bookkeeping, and all equipment necessary for the efficient conduct of the Sub-Adviser's duties under this Agreement; and (B) the Sub-Adviser shall, at its expense, bear any fees or costs associated with regulatory investigations or litigation brought by a third party against the Sub-Adviser arising from or pertaining to (i) the services provided by the Sub-Adviser under the Agreement (but excluding litigation for services provided and/or fees charged by the Adviser); and (ii) the Sub-Adviser's general business operations, in either case that require the involvement or participation of the Adviser, the Fund, and/or any Trustee of the Fund, provided that in any such case the Sub-Adviser shall not be liable pursuant to this clause to pay to Adviser, the Fund and/or any Trustee any such legal fees in connection with any such action to which either the Adviser, the Fund and/or any Trustee is also itself a direct party. A party's aggregate liability to the other for all fees and costs under this section shall not exceed the aggregate fees paid by Adviser to Sub-Adviser during the last full calendar year prior to any such liability first being incurred.
In Witness Whereof, the Adviser and the Sub-Adviser have caused this Amendment to be executed and effective as of August 31, 2016.
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Xxxxxxx National Asset Management, LLC
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BlueBay Asset Management LLP
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By:
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/s/ Xxxx X. Xxxxx
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By:
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/s/ Xxxxx Xxxxx
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Name:
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Xxxx X. Xxxxx
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Name:
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Xxxxx Xxxxx
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Title:
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President and CEO
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Title:
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Partner & General Counsel
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