EX-99.23d(57)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
PPM AMERICA, INC.
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and PPM AMERICA, INC., 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; and
WHEREAS, pursuant to the Agreement, the Adviser agreed to pay the
Sub-Adviser for the services provided and the expenses assumed by the
Sub-Adviser 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; and
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 _______________, 2003, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this _____ day of ______________, 2003.
XXXXXXX NATIONAL ASSET PPM AMERICA, INC.
MANAGEMENT, LLC
By: By:
------------------------- -------------------------------
Name: Xxxxxx X. Xxxxxxx Name:
-------------------- -----------------------------
Title: President Title:
---------------------- -----------------------------
SCHEDULE B
DATED ____________________, 2003
(Compensation)
JNL/PPM America Balanced Fund
Average Daily Net Assets Annual Rate
$0 to $50 Million .25%
$50 Million to $150 Million .20%
$150 Million to $300 Million .175%
$300 Million to $500 Million .15%
Amounts over $500 Million .125%
JNL/PPM America High Yield Bond Fund
Average Daily Net Assets Annual Rate
$0 to $50 Million .25%
$50 Million to $150 Million .20%
$150 Million to $300 Million .175%
$300 Million to $500 Million .15%
Amounts over $500 Million .125%
JNL/PPM America Money Market Fund
Average Daily Net Assets Annual Rate
$0 to $500 Million .10%
Amounts over $500 Million .05%
JNL/PPM America Value Fund
Average Daily Net Assets Annual Rate
$0 to $50 Million .25%
$50 Million to $150 Million .20%
$150 Million to $300 Million .175%
$300 Million to $500 Million .15%
Amounts over $500 Million .125%
