EX-99.23(d)(17)
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 Variable Fund LLC and JNLNY Variable Fund I LLC (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, in order to reflect a change in the names of certain funds; and
WHEREAS, in order to reflect the addition of new funds.
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 January 17, 2006, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated January 17, 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 17th day of January, 2006.
XXXXXXX NATIONAL ASSET MELLON CAPITAL MANAGEMENT
MANAGEMENT, LLC CORPORATION
By: By:
------------------------------- ----------------------------
Name: XXXXXX X. XXXXXXX Name:
----------------------------- --------------------------
Title: PRESIDENT Title:
---------------------------- -------------------------
SCHEDULE A
Dated: January 17, 2006
(Funds)
JNL VARIABLE FUND LLC
JNL/Mellon Capital Management DowSM 10 Fund
JNL/Mellon Capital Management S&P(R) 10 Fund
JNL/Mellon Capital Management Global 15 Fund
JNL/Mellon Capital Management 25 Fund
JNL/Mellon Capital Management Select Small-Cap Fund
JNL/Mellon Capital Management Nasdaq(R) 15 Fund
JNL/Mellon Capital Management Value Line(R) 25 Fund
JNL/Mellon Capital Management DowSM Dividend Fund
JNL/Mellon Capital Management VIP Fund
JNL/Mellon Capital Management JNL 5 Fund
JNL/Mellon Capital Management Communications Sector Fund
JNL/Mellon Capital Management Consumer Brands Sector Fund
JNL/Mellon Capital Management Financial Sector Fund
JNL/Mellon Capital Management Healthcare Sector Fund
JNL/Mellon Capital Management Oil & Gas Sector Fund
JNL/Mellon Capital Management Technology Sector Fund
JNLNY VARIABLE FUND I LLC
JNL/Mellon Capital Management DowSM 10 Fund
JNL/Mellon Capital Management S&P(R) 10 Fund
JNL/Mellon Capital Management Global 15 Fund
JNL/Mellon Capital Management 25 Fund
JNL/Mellon Capital Management Select Small-Cap Fund
JNL/Mellon Capital Management Nasdaq(R) 15 Fund
JNL/Mellon Capital Management Value Line(R) 25 Fund
JNL/Mellon Capital Management DowSM Dividend Fund
SCHEDULE B
Dated: January 17, 2006
(Compensation)
JNL VARIABLE FUND LLC
JNL/MELLON CAPITAL MANAGEMENT DOWSM 10 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT S&P(R) 10 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT GLOBAL 15 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT 25 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT SELECT SMALL CAP FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT NASDAQ(R) 15 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT DOWSM DIVIDEND FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT VALUE LINE(R) 25 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT VIP FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT JNL 5 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT COMMUNICATIONS SECTOR FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT CONSUMER BRANDS SECTOR FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT FINANCIAL SECTOR FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT HEALTHCARE SECTOR FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT OIL & GAS SECTOR FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT TECHNOLOGY SECTOR FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNLNY VARIABLE FUND I LLC
JNL/MELLON CAPITAL MANAGEMENT DOWSM 10 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT S&P(R) 10 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT GLOBAL 15 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT 25 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT SELECT SMALL CAP FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT NASDAQ(R) 15 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT VALUE LINE(R) 25 FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
JNL/MELLON CAPITAL MANAGEMENT DOWSM DIVIDEND FUND
ASSETS ANNUAL RATE
------ -----------
First $50 million 0.12%
Next $50 million 0.06%
Over $100 million 0.03%
