EX-99.23(d)(98)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
MELLON CAPITAL MANAGEMENT CORPORATION
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and MELLON CAPITAL MANAGEMENT CORPORATION, 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 February 18, 2004 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to the JNL Series Trust (the "Funds");
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, reflect the addition of a breakpoint to the sub-advisory fee
schedule.
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 May 1, 2006, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated May 1, 2006, attached hereto.
The parties hereto agree that unless specifically changed pursuant to this
Amendment, all terms and conditions of 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 1st day of May, 2006.
XXXXXXX NATIONAL ASSET MELLON CAPITAL MANAGEMENT
MANAGEMENT, LLC CORPORATION
By: By:
Name: XXXXXX X. XXXXXXX Name:
Title: PRESIDENT Title:
SCHEDULE A
Dated: May 1, 2006
(Funds)
JNL/MELLON CAPITAL MANAGEMENT S&P 500 INDEX
JNL/MELLON CAPITAL MANAGEMENT S&P 400 MIDCAP INDEX
JNL/MELLON CAPITAL MANAGEMENT SMALL CAP INDEX
JNL/MELLON CAPITAL MANAGEMENT INTERNATIONAL INDEX
JNL/MELLON CAPITAL MANAGEMENT BOND INDEX
JNL/MELLON CAPITAL MANAGEMENT ENHANCED S&P 500 STOCK INDEX FUND
SCHEDULE B
Dated: May 1, 2006
(Compensation)
JNL/MELLON CAPITAL MANAGEMENT S&P 500 INDEX
ASSETS ANNUAL RATE
First $50 million 0.12%
Next $50 million 0.06%
$100 to $750 million 0.03%
Over $750 million 0.015%
JNL/MELLON CAPITAL MANAGEMENT S&P 400 MIDCAP INDEX
ASSETS ANNUAL RATE
First $50 million 0.12%
Next $50 million 0.06%
$100 to $750 million 0.03%
Over $750 million 0.015%
JNL/MELLON CAPITAL MANAGEMENT SMALL CAP INDEX
ASSETS ANNUAL RATE
First $50 million 0.12%
Next $50 million 0.06%
$100 to $750 million 0.03%
Over $750 million 0.015%
JNL/MELLON CAPITAL MANAGEMENT INTERNATIONAL INDEX
ASSETS ANNUAL RATE
First $50 million 0.12%
Next $50 million 0.06%
$100 to $750 million 0.03%
Over $750 million 0.015%
JNL/MELLON CAPITAL MANAGEMENT BOND INDEX
ASSETS ANNUAL RATE
First $50 million 0.12%
Next $50 million 0.06%
$100 to $750 million 0.03%
Over $750 million 0.015%
JNL/MELLON CAPITAL MANAGEMENT ENHANCED S&P 500 STOCK INDEX FUND
ASSETS ANNUAL RATE
$0 to $50 million 0.25%
Over $50 million 0.20%