Amendment to Sub-Advisory Agreement Between Jackson National Asset Management, LLC And BlackRock Investment Management, LLC
Ex. 99.28(d)(9)(xvii)
Amendment
to Sub-Advisory Agreement Between
Xxxxxxx National Asset Management, LLC
And BlackRock Investment Management, LLC
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser (the “Adviser”), and BlackRock Investment Management, LLC, a Delaware limited liability company and registered investment adviser (the “Sub-Adviser”).
Whereas, the Adviser and the Sub-Adviser (the “Parties”) entered into a Sub-Advisory Agreement effective as of the 13th day of September, 2021 wherein the July 1, 2013 Agreement, as amended, was incorporated by reference (the “Agreement”), whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment advisory services to certain investment portfolios (the “Funds”) of JNL Series Trust (the “Trust”), as listed on Schedule A to the Agreement.
Whereas, pursuant to the Agreement, the Adviser agreed to pay sub-advisory fees as set forth on Schedule B to the Agreement to the Sub-Adviser for the services provided and the expenses assumed by the Sub-Adviser, and the Sub-Adviser agreed to accept such sub-advisory fees as full compensation under the Agreement for such services and expenses.
Whereas, the Board of Trustees of the Trust approved the reorganization of the JNL/BlackRock Advantage International Fund into the JNL/DFA International Core Equity Fund, thereby terminating the Agreement with respect to the JNL/BlackRock Advantage International Fund, effective April 25, 2022.
Whereas, the Parties have agreed to amend the Agreement to remove the JNL/BlackRock Advantage International Fund and its fees, effective April 25, 2022.
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 April 25, 2022, attached hereto. |
| 2) | Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated April 25, 2022, attached hereto. |
| 3) | Except as specifically amended hereby, the Agreement shall remain in full force and effect in accordance with its terms. |
| 4) | 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. |
| 5) | This Amendment may be executed in one or more counterparts, which together shall constitute one document. |
In Witness Whereof, the Parties have caused this Amendment to be executed, effective April 25, 2022.
| Xxxxxxx National Asset Management, LLC | BlackRock Investment Management, LLC | |||
| By: | /s/ Xxxxx X. Xxxxxxx | By: | /s/ Xxxx Xxxxxx | |
| Name: | Xxxxx X. Xxxxxxx | Name: | Xxxx Xxxxxx | |
| Title: | AVP and Deputy General Counsel | Title: | Managing Director | |
Schedule A
Dated April 25, 2022
| Funds | |
| JNL/BlackRock Global Allocation Fund | |
| JNL/BlackRock Large Cap Select Growth Fund | |
A-1
Schedule B
Dated April 25, 2022
(Compensation)
| JNL/BlackRock Global Allocation Fund | |
| Average Daily Net Assets | Annual Rate |
|
$0 to $500 Million
|
0.40% |
|
$500 Million to $1.5 Billion
|
0.35% |
|
$1.5 Billion to $2.5 Billion
|
0.30% |
|
Amounts over $2.5 Billion
|
0.28% |
| JNL/BlackRock Large Cap Select Growth Fund | |
| Average Daily Net Assets | Annual Rate |
|
$0 to $1.5 Billion
|
0.25% |
|
$1.5 Billion to $2.5 Billion
|
0.21% |
|
Amounts over $2.5 Billion
|
0.19% |
B-1
