AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
FRANKLIN XXXXXXXXX INSTITUTIONAL, LLC
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and FRANKLIN XXXXXXXXX INSTITUTIONAL, LLC, a Delaware limited
liability company and registered investment adviser ("Sub-Adviser").
WHEREAS, the Adviser and Sub-Adviser entered into an Investment
Sub-Advisory Agreement dated as of May 1, 2010 ("Agreement"), whereby Adviser
appointed Sub-Adviser to provide sub-investment advisory services to a certain
investment portfolio of the JNL Series Trust ("Trust").
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, the Adviser and the Sub-Adviser have agreed to revise the
sub-advisory fees as set forth on Schedule B, and, in connection with said
revisions, Schedule B to the Agreement must be amended.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to amend the Agreement as follows:
1. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated September 10, 2012, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this Amendment
to be executed as of September 25, 2012, effective as of September 10, 2012.
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC FRANKLIN XXXXXXXXX INSTITUTIONAL, LLC
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxxx Xxxxxxx
----------------------------- ---------------------------------
Name: Xxxx X. Xxxxx Name: Xxxxxx Xxxxxxx
---------------------------------- -------------------------------
Title: President and CEO Title: SVP
--------------------------------- ------------------------------
SCHEDULE B
SEPTEMBER 10, 2012
(Compensation)
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JNL/FRANKLIN XXXXXXXXX
INTERNATIONAL SMALL CAP GROWTH FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 Million .67%
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$101 to $250 Million .64%
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$251 to $500 Million .62%
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$501 to $750 Million .60%
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$751 to $1,000 Million .59%
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Amounts over $1,000 Million .55%
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B-1
