EX-99.23(d)(12)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
MELLON CAPITAL MANAGEMENT CORPORATION
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and MELLON CAPITAL MANAGEMENT CORPORATION, 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 December 15, 2006 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to certain investment portfolios of the JNL Investors 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
WHEREAS, the Adviser desires to appoint Sub-Adviser to provide, and
Sub-Adviser has agreed to provide, additional sub-investment advisory services
to two new investment portfolios of the JNL Investors Series Trust, effective
upon execution or, if later, the date that initial capital for such investment
portfolio is first provided; and
WHEREAS, with respect to the Xxxxxxx Perspective S&P 4 Fund, Sub-Adviser
will be responsible for trading services and will monitor the applicable
benchmarks. Standard & Poor's Investment Advisory Services LLC ("S&P Advisory")
will provide the allocations that will comprise the benchmark and will be
responsible for maintaining the composition of such benchmark between such
periodic allocations.
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 December 27, 2007, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated December 27, 2007, attached hereto.
3. Schedule C to the Agreement is hereby deleted and replaced in its
entirety with Schedule C dated December 27, 2007, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 27th day of December, 2007.
XXXXXXX NATIONAL ASSET MELLON CAPITAL MANAGEMENT
MANAGEMENT, LLC CORPORATION
By: _______________________________ By: _______________________________
Name: XXXX X. XXXXX Name:______________________________
Title: PRESIDENT Title: ____________________________
A-1
SCHEDULE A
DECEMBER 27, 2007
(FUNDS)
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Xxxxxxx Perspective 5 Fund
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Xxxxxxx Perspective Index 5 Fund
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Xxxxxxx Perspective Optimized 5 Fund
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Xxxxxxx Perspective S&P 4 Fund
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Xxxxxxx Perspective VIP Fund
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SCHEDULE B
DECEMBER 27, 2007
(COMPENSATION)
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XXXXXXX PERSPECTIVE 5 FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $50 Million 0.12%
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$50 Million to $100 Million 0.06%
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$100 Million to $750 Million 0.03%
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Amounts over $750 Million 0.015%
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XXXXXXX PERSPECTIVE INDEX 5 FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $50 Million 0.12%
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$50 Million to $100 Million 0.06%
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$100 Million to $750 Million 0.03%
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Amounts over $750 Million 0.015%
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XXXXXXX PERSPECTIVE OPTIMIZED 5 FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $50 Million 0.12%
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$50 Million to $100 Million 0.06%
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$100 Million to $750 Million 0.03%
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Amounts over $750 Million 0.015%
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XXXXXXX PERSPECTIVE S&P 4 FUND
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------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
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$0 to $50 Million 0.12%
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$50 Million to $100 Million 0.06%
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$100 Million to $750 Million 0.03%
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Amounts over $750 Million 0.015%
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----------------------------------------------------------------------------
XXXXXXX PERSPECTIVE VIP FUND
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
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$0 to $50 Million 0.12%
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$50 Million to $100 Million 0.06%
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$100 Million to $750 Million 0.03%
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Amounts over $750 Million 0.015%
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SCHEDULE C
DECEMBER 27, 2007
(INVESTMENT OBJECTIVES)
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XXXXXXX PERSPECTIVE 5 FUND
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INVESTMENT OBJECTIVE. THE INVESTMENT OBJECTIVE OF THE XXXXXXX
PERSPECTIVE 5 FUND IS TOTAL RETURN THROUGH CAPITAL
APPRECIATION AND DIVIDEND INCOME.
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XXXXXXX PERSPECTIVE INDEX 5 FUND
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INVESTMENT OBJECTIVE. THE INVESTMENT OBJECTIVE OF THE XXXXXXX
PERSPECTIVE INDEX 5 FUND IS CAPITAL APPRECIATION.
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XXXXXXX PERSPECTIVE OPTIMIZED 5 FUND
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INVESTMENT OBJECTIVE. THE INVESTMENT OBJECTIVE OF THE XXXXXXX
PERSPECTIVE OPTIMIZED 5 FUND IS TOTAL RETURN.
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XXXXXXX PERSPECTIVE S&P 4 FUND
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INVESTMENT OBJECTIVE. THE INVESTMENT OBJECTIVE OF THE XXXXXXX
PERSPECTIVE S&P 4 FUND IS CAPITAL APPRECIATION.
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XXXXXXX PERSPECTIVE VIP FUND
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INVESTMENT OBJECTIVE. THE INVESTMENT OBJECTIVE OF THE XXXXXXX
PERSPECTIVE VIP FUND IS TOTAL RETURN.
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