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 December 27, 2007 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to certain investment portfolios of JNL Investors Series Trust.
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.
WHEREAS, the Adviser desires to appoint Sub-Adviser to provide, and
Sub-Adviser has agreed to provide, additional sub-investment advisory services
to the following new investment portfolio of JNL Investors Series Trust,
effective upon execution or, if later, the date that initial capital for such
investment portfolio is first provided:
Xxxxxxx Perspective Total Return 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 December 29, 2008, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its entirety
with Schedule B dated December 29, 2008, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 29th day of December, 2008.
XXXXXXX NATIONAL ASSET PPM AMERICA, INC.
MANAGEMENT, LLC
By: _______________________________ By: __________________________________
Name: XXXX X. XXXXX Name:__________________________________
Title: PRESIDENT Title: ________________________________
SCHEDULE A
DECEMBER 29, 2008
(Funds)
----------------------------------------------------------------------------
Xxxxxxx Perspective Core Equity Fund
----------------------------------------------------------------------------
Xxxxxxx Perspective Large Cap Value Fund
----------------------------------------------------------------------------
Xxxxxxx Perspective Mid Cap Value Fund
----------------------------------------------------------------------------
Xxxxxxx Perspective Small Cap Value Fund
----------------------------------------------------------------------------
Xxxxxxx Perspective Total Return Fund
----------------------------------------------------------------------------
SCHEDULE B
DECEMBER 29, 2008
(Compensation)
----------------------------------------------------------------------------
XXXXXXX PERSPECTIVE CORE EQUITY FUND
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
$0 to $150 Million 0.25%
------------------------------------------------------- --------------------
$150 Million to $300 Million 0.20%
------------------------------------------------------- --------------------
Amounts over $300 Million 0.17%
------------------------------------------------------- --------------------
----------------------------------------------------------------------------
XXXXXXX PERSPECTIVE LARGE CAP VALUE FUND
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
$0 to $150 Million 0.25%
------------------------------------------------------- --------------------
$150 Million to $300 Million 0.20%
------------------------------------------------------- --------------------
Amounts over $300 Million 0.17%
------------------------------------------------------- --------------------
----------------------------------------------------------------------------
XXXXXXX PERSPECTIVE MID CAP VALUE FUND
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
------------------------------------------------------- --------------------
$0 to $150 Million 0.25%
------------------------------------------------------- --------------------
$150 Million to $300 Million 0.20%
------------------------------------------------------- --------------------
Amounts over $300 Million 0.17%
------------------------------------------------------- --------------------
----------------------------------------------------------------------------
XXXXXXX PERSPECTIVE SMALL CAP VALUE FUND
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
$0 to $150 Million 0.25%
------------------------------------------------------- --------------------
$150 Million to $300 Million 0.20%
------------------------------------------------------- --------------------
Amounts over $300 Million 0.17%
------------------------------------------------------- --------------------
----------------------------------------------------------------------------
XXXXXXX PERSPECTIVE TOTAL RETURN FUND
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
------------------------------------------------------- --------------------
$0 to $150 Million 0.20%
------------------------------------------------------- --------------------
$150 Million to $300 Million 0.175%
------------------------------------------------------- --------------------
Amounts over $300 Million 0.15%
------------------------------------------------------- --------------------
