Amendment to Administrative Fee Waiver Agreement Between JNL Variable Fund LLC and Jackson National Asset Management, LLC
EX. 99.28(h)(2)(ii)
Amendment to
Between JNL Variable Fund LLC and
Xxxxxxx National Asset Management, LLC
This Amendment is made by and between JNL Variable Fund LLC (the “Fund”) on behalf of each of its series of shares (each a “fund” and collectively, the “funds”) listed on Schedule A and Xxxxxxx National Asset Management, LLC (the “Administrator”).
Whereas, the Fund and the Administrator (the “Parties”) entered into an Administrative Fee Waiver Agreement dated September 25, 2017 (the “Agreement”), whereby the Administrator agreed to waive, for each fund listed on Schedule A, a portion of its administrative fee, in the amounts listed on Schedule A, as it may be amended and approved by the Board of Managers of the Fund from time to time.
Whereas, the parties have agreed to amend paragraphs 1 and 4 of the Agreement.
Now Therefore, in consideration of the mutual covenants herein contained, the Parties hereby agree to amend the Agreement as follows:
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1)
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Delete paragraph 1 in its entirety and replace it with the following:
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1. The Administrator hereby agrees to waive, for each fund listed on Schedule A, a portion of its administration fee in the amounts listed on Schedule A, as it may be amended and approved by the Board of Managers of the Fund (the “Board”) from time to time.
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2)
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Delete paragraph 4 in its entirety and replace it with the following:
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4. This Agreement shall have an initial term expiring one year from the date of this Agreement for each fund (the “Initial Term”). The Administrator may extend this Agreement for each fund before the expiration of the Initial Term, which extension shall automatically be effective for a term ending April 30th of the following year (a “Subsequent Term”), and, thereafter, this Agreement shall automatically renew upon the end of the then-current term and each Subsequent Term will continue for a new one-year term with respect to each fund unless the Board approves the elimination of this Agreement.
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3)
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Except as specifically amended hereby, the Agreement shall remain in full force and effect in accordance with its terms.
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4)
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Each of the Parties represents and warrants to the others that it has full authority to enter into this Amendment upon the terms and conditions hereof and that the individual executing this Amendment is duly authorized to bind the respective party to this Amendment.
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5)
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This Amendment may be executed in one or more counterparts, which together shall constitute one document.
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In Witness Whereof, the Parties have caused this Amendment to be executed, effective as of April 30, 2018.
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Xxxxxxx National Asset Management, LLC
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By:
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/s/ Xxxxxxx X. Xxxxxx
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By:
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/s/ Xxxx X. Xxxxx
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Name:
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Xxxxxxx X. Xxxxxx
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Name:
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Xxxx X. Xxxxx
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Title:
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Assistant Secretary
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Title:
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President and CEO
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