AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, LLC
AND
STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC
This AMENDMENT is made by and between XXXXXXX NATIONAL FINANCIAL SERVICES,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC (formerly
known as Standard & Poor's Investment Advisory Services, Inc.), a Delaware
limited liability company and registered investment adviser ("Sub-Adviser").
WHEREAS, Xxxxxxx National Financial Services, Inc. ("JNFSI") and
Sub-Adviser entered into an Investment Sub-Advisory Agreement dated as of March
2, 1998 ("Agreement"), whereby JNFSI appointed Sub-Adviser to provide certain
sub-investment advisory services to the investment portfolios of the JNL Series
Trust; and
WHEREAS, effective July 1, 1998, JNFSI assigned, transferred and conveyed
to Adviser, and Adviser assumed, all of the interests, rights, responsibilities
and obligations of JNFSI under the Agreement, and thereafter Adviser was deemed
a party in lieu of JNFSI to such Agreement; 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-Advisor 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 three new investment portfolios of the JNL Series Trust, effective upon
execution or, if later, the date that initial capital for such investment
portfolio is first provided.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to amend the Agreement as follows:
1. Capitalized terms used and not defined herein shall have the meanings
ascribed thereto in the Agreement.
2. Both parties hereby ratify and approve, effective as of July 1, 1998,
JNFSI's assignment, transfer and conveyance to Adviser, and Adviser's
assumption, of all of the interests, rights, responsibilities and
obligations of JNFSI under the Agreement, and further, both parties hereby
agree that, effective July 1, 1998, Adviser is deemed a party to the
Agreement in lieu of JNFSI.
3. Schedule A to the Agreement is hereby deleted and replaced in its entirety
with Schedule A dated December 31, 1999, attached hereto.
4. Schedule B to the Agreement is hereby deleted and replaced in its entirety
with Schedule B dated December 31, 1999, attached hereto.
5. Except as expressly set forth above, all other provisions in the Agreement
shall remain in full force and effect.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 31st day of December, 1999.
XXXXXXX NATIONAL FINANCIAL STANDARD & POOR'S INVESTMENT
SERVICES, LLC ADVISORY SERVICES LLC
By: /s/ Xxxxxx X. Xxxxxxx By: /s/ Xxxxxx X. Xxxxxxx
------------------------------- -------------------------
Name: Xxxxxx X. Xxxxxxx Name: Xxxxxx X. Xxxxxxx
------------------------------- -------------------------
Title: President Title: Vice President & Gen. Mgr.
------------------------------- -------------------------
SCHEDULE A
DATED DECEMBER 31, 1999
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, LLC
AND
STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC
(Fund)
JNL/S&P Conservative Growth Series I JNL/S&P Moderate Growth Series I JNL/S&P
Aggressive Growth Series I JNL/S&P Very Aggressive Growth Series I JNL/S&P
Equity Growth Series I JNL/S&P Equity Aggressive Growth Series I JNL/S&P
Conservative Growth Series II JNL/S&P Moderate Growth Series II JNL/S&P
Aggressive Growth Series II JNL/S&P Very Aggressive Growth Series II JNL/S&P
Equity Growth Series II JNL/S&P Equity Aggressive Growth Series II JNL/S&P
Conservative Growth Series JNL/S&P Moderate Growth Series JNL/S&P Aggressive
Growth Series
SCHEDULE B
DATED DECEMBER 31, 1999
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, LLC
AND
STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC
(Compensation)
JNL/S&P CONSERVATIVE GROWTH SERIES I
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P MODERATE GROWTH SERIES I
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P AGGRESSIVE GROWTH SERIES I
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P VERY AGGRESSIVE GROWTH SERIES I
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P EQUITY GROWTH SERIES I
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P EQUITY AGGRESSIVE GROWTH SERIES I
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P CONSERVATIVE GROWTH SERIES II
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P MODERATE GROWTH SERIES II
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P AGGRESSIVE GROWTH SERIES II
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P VERY AGGRESSIVE GROWTH SERIES II
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P EQUITY GROWTH SERIES II
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P EQUITY AGGRESSIVE GROWTH SERIES II
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P CONSERVATIVE GROWTH SERIES
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P MODERATE GROWTH SERIES
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
JNL/S&P AGGRESSIVE GROWTH SERIES
Average Daily Net Assets Annual Rate
0 to $500 Million: .10%
Amounts over $500 Million: .075%
