EX-99.d(51)
AMENDMENT
TO
INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT
BETWEEN
JNL SERIES TRUST
AND
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
This AMENDMENT is by and between JNL Series Trust, a Massachusetts
business trust (the "Trust") and Xxxxxxx National Asset Management, LLC, a
Michigan limited liability company (the "Adviser").
WHEREAS, the Trust and the Adviser entered into an Investment Advisory
and Management Agreement dated January 31, 2001 (the "Agreement"), whereby the
Trust retained the Adviser to perform investment advisory and management
services for the Series of the Trust enumerated in the Agreement; and
WHEREAS, the advisory fees for the Janus/JNL Aggressive Growth Fund,
Janus/JNL Capital Growth Fund, Janus/JNL Balanced, Fund and the Janus/JNL Growth
& Income Fund will be amended; and
NOW THEREFORE, in consideration of the mutual covenants contained
herein and for other good and valuable consideration, the Trust and the Adviser
agree as follows:
1. As compensation for services performed and the facilities and personnel
provided by the Adviser under the Agreement, the Trust will pay to the
Adviser, promptly after the end of each month for the services rendered by
the Adviser during the preceding month, the sum of the following amounts:
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Janus/JNL Aggressive Growth Fund $0 to $150 million .95%
$150 million to $250 million .90%
$250 million to $750 million .85%
$750 million to $1.5 billion .80%
Over $1.5 billion .75%
------------------------------------------------ ------------------------------------- -------------------------
Janus/JNL Balanced Fund $0 to $150 million .95%
$150 million to $250 million .95%
$250 million to $750 million .90%
$750 million to $1.5 billion .85%
Over $1.5 billion .80%
------------------------------------------------ ------------------------------------- -------------------------
Janus/JNL Capital Growth Fund $0 to $150 million .95%
$150 million to $250 million .90%
$250 million to $750 million .85%
$750 million to $1.5 billion .80%
Over $1.5 billion .75%
------------------------------------------------ ------------------------------------- -------------------------
Janus/JNL Growth & Income Fund $0 to $150 million .95%
$150 million to $250 million .95%
$250 million to $750 million .90%
$750 million to $1.5 billion .85%
Over $1.5 billion .80%
------------------------------------------------ ------------------------------------- -------------------------
2. The Trust and the Adviser agree to abide and be bound by all of the terms
and conditions set forth in the Agreement.
IN WITNESS WHEREOF, the Trust and the Adviser have caused this
Agreement to be executed by their duly authorized officers as of the 16th day of
May, 2002.
JNL SERIES TRUST
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------------------
Name: Xxxxxx X. Xxxxxxx
----------------------------
Title: President
---------------------------------------------
XXXXXXX NATIONAL ASSET
MANAGEMENT, LLC
By: /s/ Xxxx X. Xxxxx
------------------------------------------------
Name: Xxxx X. Xxxxx
----------------------------
Title: Chief Financial Officer
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