AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
XXXXXXX SACHS ASSET MANAGEMENT, L.P.
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and XXXXXXX SACHS ASSET MANAGEMENT, L.P., a limited partnership
organized under the laws of the state of Delaware and registered investment
adviser ("Sub-Adviser").
WHEREAS, the Adviser and Sub-Adviser entered into an Investment
Sub-Advisory Agreement dated as of May 2, 2005 ("Agreement"), whereby Adviser
appointed Sub-Adviser to provide certain sub-investment advisory services to a
investment portfolio of the JNL Series Trust; and
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; and
WHEREAS, in order to reflect a change in sub-adviser for the JNL/Western
Asset Strategic Bond Fund, Schedule A and Schedule B must be amended, to add the
new sub-advised fund (the JNL/Xxxxxxx Xxxxx Core Plus Bond Fund).
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 30, 2007, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its entirety
with Schedule B dated April 30, 2007, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 30th day of April, 2007.
XXXXXXX NATIONAL ASSET XXXXXXX XXXXX ASSET
MANAGEMENT, LLC MANAGEMENT, L.P.
By: By:
Xxxx X. Xxxxx Name:______________________________
Title: President Title:_____________________________
SCHEDULE A
DATED APRIL 30, 2007
(Funds)
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JNL/Xxxxxxx Xxxxx Core Plus Bond Fund
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JNL/Xxxxxxx Sachs Short Duration Bond Fund
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JNL/Xxxxxxx Xxxxx Mid Cap Value Fund
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SCHEDULE B
DATED APRIL 30, 2007
(Compensation)
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JNL/XXXXXXX SACHS CORE PLUS BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to 500 Million .25%
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Amounts over $500 Million .185%
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JNL/XXXXXXX XXXXX SHORT DURATION BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 Million .20%
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$100 to $250 Million .17%
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$250 to $500 Million .15%
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Amounts over $500 Million .12%
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JNL/XXXXXXX SACHS MID CAP VALUE FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to 100 Million .50%
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Amounts over $100 Million .45%
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