Amendment to Management Fee Waiver Agreement Between JNL Series Trust and Jackson National Asset Management, LLC
EX 99.28(h)(12)(x)
Amendment to
Management 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 the funds listed on Schedule A (each a “Fund” and collectively, the “Funds”) and Xxxxxxx National Asset Management, LLC (the “Adviser”).
Whereas, the Trust and the Adviser (the “Parties”) entered into a Management Fee Waiver Agreement dated April 30, 2012, (the “Agreement”), whereby the Adviser agreed to waive, for each Fund listed on Schedule A, a portion of its advisory fee, in the amounts listed on Schedule A, as it may be amended and approved by the Board of Trustees of the Trust from time to time.
Whereas, the Parties agreed to amend Schedule A of the Agreement to remove the following eight funds and the respective fee waiver for each fund:
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1)
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JNL/DFA U.S. Core Equity Fund;
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2)
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JNL/Xxxxxxx Xxxxx Core Plus Bond Fund;
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3)
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JNL/Xxxxxxx Sachs Emerging Markets Debt Fund;
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4)
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JNL/Invesco Small Cap Growth Fund;
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5)
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JNL/Mellon Capital S&P 500 Index Fund;
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6)
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JNL/MFS Mid Cap Value Fund;
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7)
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JNL/Xxxxxxxxxxx Global Growth Fund; and
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8)
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JNL/X. Xxxx Price Value Fund.
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Whereas, the Parties agreed to amend Schedule A of the Agreement to update the name of the JNL/DFA Moderate Allocation Fund to the JNL/DFA Moderate Growth Allocation Fund.
Whereas, the Parties agreed to amend Schedule A of the Agreement to add the following seven funds and a fee waiver for each fund:
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1)
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JNL S&P 500 Index Fund;
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2)
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JNL/Vanguard Global Bond Market Index Fund;
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3)
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JNL/Vanguard Growth Allocation Fund;
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4)
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JNL/Vanguard International Stock Market Index Fund;
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5)
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JNL/Vanguard Moderate Allocation Fund;
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6)
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JNL/Vanguard Moderate Growth Allocation Fund; and
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7)
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JNL/Vanguard U.S. Stock Market Index Fund.
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Now Therefore, in consideration of the mutual covenants herein contained, the Parties hereby agree to amend the Agreement as follows:
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1)
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Schedule A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated September 25, 2017, attached hereto.
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2)
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Except as specifically amended hereby, the Agreement shall remain in full force and effect in accordance with its terms.
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3)
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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.
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4)
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This Amendment may be executed in one or more counterparts, which together shall constitute one document.
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In Witness Whereof, the Parties have caused this Amendment to be executed, effective as of September 25, 2017.
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Xxxxxxx National Asset Management, LLC
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By:
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/s/ Xxxxxxx X. Xxxxxx
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By:
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/s/ Xxxx X. Xxxxx
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Name:
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Xxxxxxx X. Xxxxxx
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Name:
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Xxxx X. Xxxxx
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Title:
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Assistant Secretary
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Title:
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President and CEO
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Schedule A
Dated September 25, 2017
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Fund
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Fee Waiver 1
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JNL S&P 500 Index Fund
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0.13% on all assets
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JNL/DFA Growth Allocation Fund
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0.05% on all assets
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JNL/DFA Moderate Growth Allocation Fund
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0.05% on all assets
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JNL/Vanguard Global Bond Market Index Fund
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0.10% on all assets
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JNL/Vanguard Growth Allocation Fund
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0.04% on all assets
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JNL/Vanguard International Stock Market Index Fund
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0.07% on all assets
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JNL/Vanguard Moderate Allocation Fund
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0.05% on all assets
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JNL/Vanguard Moderate Growth Allocation Fund
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0.05% on all assets
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JNL/Vanguard U.S. Stock Market Index Fund
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0.06% on all assets
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These waivers shall have an initial term expiring one year from the date of this Agreement for each Fund (the “Initial Term”). The Adviser may extend this Agreement for each Fund before the expiration of the Initial Term, which extension shall automatically be effective for a term ending April 30th of the following year, and thereafter this Agreement shall automatically renew upon the end of the then current term for a new one-year term with respect to each Fund unless the Adviser provides written notice of the termination of this Agreement to the Board of Trustees within 30 days prior to the end of the then current term for that Fund.
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A-1
