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 16, 2007 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to certain investment portfolios of the JNL Series Trust ("Trust").
WHEREAS, the parties wish to amend the Agreement in order to remove the
following fund: the JNL/PPM America Core Equity Fund, which is being merged into
the JNL/Mellon Capital Management S&P 500 Index Fund of the Trust.
WHEREAS, in order to reflect the above-referenced Fund merger, Schedule A
and Schedule B to the Agreement must be amended to remove the merged fund.
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 September 28, 2009, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated September 28, 2009, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 28th day of September, 2009.
XXXXXXX NATIONAL ASSET PPM AMERICA, INC.
MANAGEMENT, LLC
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxxx
Name: XXXX X. XXXXX Name: Xxxx X. Xxxxxxx
Title: PRESIDENT Title: COO, CCO, and Treasurer
SCHEDULE A
SEPTEMBER 28, 2009
(Funds)
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JNL/PPM America High Yield Bond Fund
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JNL/PPM America Mid Cap Value Fund
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JNL/PPM America Small Cap Value Fund
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JNL/PPM America Value Equity Fund
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SCHEDULE B
SEPTEMBER 28, 2009
(Compensation)
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JNL/PPM AMERICA HIGH YIELD BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $150 Million 0.20%
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$150 Million to $300 Million 0.175%
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Amounts over $300 Million 0.15%
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JNL/PPM AMERICA MID CAP VALUE FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $150 Million 0.25%
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$150 Million to $300 Million 0.20%
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Amounts over $300 Million 0.17%
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JNL/PPM AMERICA SMALL CAP VALUE FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $150 Million 0.25%
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$150 Million to $300 Million 0.20%
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Amounts over $300 Million 0.17%
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JNL/PPM AMERICA VALUE EQUITY FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
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$0 to $150 Million 0.25%
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$150 Million to $300 Million 0.20%
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Amounts over $300 Million 0.17%
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