Amendment to Amended and Restated Investment Sub-Advisory Agreement Between Jackson National Asset Management, LLC and Franklin Advisers, Inc.
EX 99.28(d)(27)(iv)
Amendment
to Amended and Restated
Xxxxxxx National Asset Management, LLC
and Franklin Advisers, Inc.
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser ("Adviser"), and Franklin Advisers, Inc., a California corporation and registered investment adviser ("Sub-Adviser").
Whereas, the Adviser and the Sub-Adviser entered into an Amended and Restated Investment Sub-Advisory Agreement effective as of the 1st day of December, 2012, as amended May 30, 2013 ("Agreement"), whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment advisory services to certain investment portfolios ("Funds") of JNL Series Trust ("Trust"), as listed on Schedule A to the Agreement.
Whereas, the parties have agreed to amend the following section of the Agreement:
Section 3. "Management".
Now Therefore, in consideration of the mutual covenants herein contained, the parties hereby agree to amend the Agreement as follows:
The following shall be inserted as sub-paragraph n) in Section 3. "Management" under the heading entitled: "The Sub-Adviser further agrees that it:"
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n)
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at its expense, will furnish: (i) all necessary facilities and personnel, including salaries, expenses, and fees of any personnel required for the Sub-Adviser to faithfully perform its duties under this Agreement; and (ii) administrative facilities, including bookkeeping, and all equipment necessary for the efficient conduct of the Sub-Adviser's duties under this Agreement. The Sub-Adviser shall, at its expense, bear reasonable and necessary legal costs paid by the Adviser resulting from litigation arising from or pertaining to the Sub-Adviser's investment advisory services that require the involvement or participation of the Adviser, the Fund, and/or any Trustee of the Fund. The Adviser shall, at its expense, bear any reasonable and necessary legal costs suffered by the Sub-Adviser resulting from litigation arising from or pertaining to: (1) the Adviser's investment advisory services, or (2) the Sub-Adviser's services to the Fund, that require the involvement or participation of the Sub-Adviser or its officers or directors. A party's aggregate liability to the other for all costs under this section shall not exceed $50,000 per Fund for each such litigation or $250,000 for all such litigations occurring within any twelve month period, or another amount as mutually agreed by the parties. Notwithstanding the foregoing, the limitations of liability set forth above shall not apply to any indemnification obligations hereunder.
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In Witness Whereof, the Adviser and the Sub-Adviser have caused this Amendment to be executed and effective as of August 31, 2016.
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Xxxxxxx National Asset Management, LLC
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Victory Capital Management Inc.
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By:
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/s/ Xxxx X. Xxxxx
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By:
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/s/ Xxxx Xxxxxxx
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Name:
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Xxxx X. Xxxxx
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Name:
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Xxxx Xxxxxxx
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Title:
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President and CEO
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Title:
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Portfolio Manager
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