AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
XXXXXXX SACHS ASSET MANAGEMENT, L.P.
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and XXXXXXX SACHS ASSET MANAGEMENT, L.P., a limited partnership
organized under the laws of the state of Delaware and registered investment
adviser ("Sub-Adviser").
WHEREAS, the Adviser and Sub-Adviser entered into an Investment
Sub-Advisory Agreement dated as of May 2, 2005 (as amended, the "Agreement"),
whereby Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to 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
WHEREAS, the Adviser has replaced the Sub-Adviser with X. Xxxx Price
Associates, Inc. to provide certain sub-investment advisory services to the
JNL/Xxxxxxx Sachs Short Duration Bond ("Fund"); and
WHEREAS, in order to reflect the above-referenced replacement, Schedule A
and Schedule B must be amended to remove the Fund from the Agreement.
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 XXXXXXX SACHS ASSET
MANAGEMENT, LLC MANAGEMENT, L.P.
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxx Xxxxxxxxx
Name: XXXX X. XXXXX Name: Xxxxx Xxxxxxxxx
Title: PRESIDENT Title: Managing Director
SCHEDULE A
DATED SEPTEMBER 28, 2009
(Funds)
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JNL/Xxxxxxx Xxxxx Core Plus Bond Fund
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JNL/Xxxxxxx Sachs Emerging Markets Debt Fund
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JNL/Xxxxxxx Xxxxx Mid Cap Value Fund
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SCHEDULE B
DATED SEPTEMBER 28, 2009
(Compensation)
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JNL/XXXXXXX SACHS CORE PLUS BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $500 Million .25%
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$500 Million to $1 Billion .17%
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Amounts over $1 Billion .15%
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JNL/XXXXXXX XXXXX EMERGING
MARKETS DEBT FUND
----------------------------------------------------------------------------
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $200 Million .50%
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Amounts over $200 Million .45%
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----------------------------------------------------------------------------
JNL/XXXXXXX SACHS MID CAP VALUE FUND
----------------------------------------------------------------------------
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 Million .50%
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Amounts over $100 Million .45%
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