Amended and Restated Investment Advisory and Management Agreement Between JNL Variable Fund LLC and Jackson National Asset Management, LLC
Amendment to
Amended and Restated Investment Advisory
and Management Agreement
Between JNL Variable Fund LLC and
Xxxxxxx National Asset Management, LLC
This Amendment is made by and between JNL Variable Fund LLC, a Delaware limited liability company (the “Fund”) and Xxxxxxx National Asset Management, LLC, a Michigan limited liability company (the “Adviser”).
Whereas, the Fund and the Adviser (the “Parties”) entered into an Amended and Restated
Investment Advisory and Management Agreement, effective December 1, 2012, as amended (the “Agreement”), whereby the Adviser agreed to provide certain advisory services to several separate series of shares (each a “fund”) of the Fund.
Whereas, the Board of Managers of the Fund (the “Board”) has approved fund mergers for certain funds and fund name changes, as outlined below, effective June 24, 2019 (collectively, the “Fund Changes”):
Fund Mergers
1)
JNL/Mellon Capital JNL 5 Fund to merge into the JNL/RAFI® Multi-Factor U.S. Equity Fund of JNL Series Trust; and
2)
JNL/Mellon Capital S&P® XXxx 60 Fund to merge into the JNL/RAFI® Fundamental U.S. Small Cap Fund of JNL Series Trust.
Fund Name Changes
1)
JNL/Mellon Capital DowSM Index Fund change to JNL/Mellon DowSM Index Fund;
2)
JNL/Mellon Capital MSCI World Index Fund change to JNL/Mellon MSCI World Index Fund;
3)
JNL/Mellon Capital Nasdaq® 100 Index Fund change to JNL/Mellon Nasdaq® 100 Index Fund;
4)
JNL/Mellon Capital Consumer Discretionary Sector Fund change to JNL/Mellon Consumer Discretionary Sector Fund;
5)
JNL/Mellon Capital Energy Sector Fund change to JNL/Mellon Energy Sector Fund;
6)
JNL/Mellon Capital Financial Sector Fund change to JNL/Mellon Financial Sector Fund;
7)
JNL/Mellon Capital Healthcare Sector Fund change to JNL/Mellon Healthcare Sector Fund;
8)
JNL/Mellon Capital Information Technology Sector Fund change to JNL/Mellon Information Technology Sector Fund; and
9)
JNL/Mellon Capital Telecommunications Sector Fund change to JNL/Mellon Communication Services Sector Fund.
Whereas, pursuant to Board approval of the Fund Changes, as outlined above, the Parties have agreed to amend the Agreement, effective June 24, 2019, to update the list of funds to remove the merged funds, and to update the fund names in Schedule A and Schedule B.
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 June 24, 2019, attached hereto. |
| 2) | Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated June 24, 2019, attached hereto. |
| 3) | 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. |
| 4) | This Amendment may be executed in one or more counterparts, which together shall constitute one document. |
In Witness Whereof, the Adviser and the Fund have caused this Amendment to be executed, effective June 24, 2019.
|
|
Xxxxxxx National Asset Management, LLC |
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| By: | /s/ Xxxxxxx X. Xxxxxx | By: | /s/ Xxxx X. Xxxxx | ||
| Name: | Xxxxxxx X. Xxxxxx | Name: | Xxxx X. Xxxxx | ||
| Title: | Assistant Secretary | Title: | President and CEO | ||
| -1- |
Schedule A
Dated June 24, 2019
(List of Funds)
|
Funds
|
|
JNL/Mellon DowSM Index Fund
|
|
JNL/Mellon MSCI World Index Fund
|
|
JNL/Mellon Nasdaq® 100 Index Fund
|
|
JNL/Mellon Communication Services Sector Fund
|
|
JNL/Mellon Consumer Discretionary Sector Fund
|
|
JNL/Mellon Energy Sector Fund
|
|
JNL/Mellon Financial Sector Fund
|
|
JNL/Mellon Healthcare Sector Fund
|
|
JNL/Mellon Information Technology Xxxxxx Xxxx
|
| X-0 |
Schedule B
Dated June 24, 2019
(Compensation)
|
Fund
|
Assets
|
Advisory Fee (Annual Rate Based on Average Net Assets of each Fund)
|
|
JNL/Mellon DowSM Index Fund
|
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion
|
.240% .210% .180% .170% .160% .150%
|
|
JNL/Mellon MSCI World Index Fund
|
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion
|
.240% .210% .180% .170% .160% .150% |
|
JNL/Mellon Nasdaq® 100 Index Fund |
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over 5 billion
|
.240% .210% .180% .170% .160% .150% |
|
JNL/Mellon Communication Services Sector Fund |
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion
|
.240% .210% .180% .170% .160% .150% |
|
JNL/Mellon Consumer Discretionary Sector Fund |
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion |
.240% .210% .180% .170% .160% .150% |
|
JNL/Mellon Energy Sector Fund |
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion
|
.240% .210% .180% .170% .160% .150% |
|
JNL/Mellon Financial Sector Fund |
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion |
.240% .210% .180% .170% .160% .150% |
|
JNL/Mellon Healthcare Sector Fund |
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion
|
.240% .210% .180% .170% .160% .150% |
|
JNL/Mellon Information Technology Sector Fund |
$0 to $50 million $50 million to $100 million $100 million to $750 million $750 million to $3 billion $3 billion to $5 billion Over $5 billion
|
.240% .210% .180% .170% .160% .150% |
| B-1 |
