Amendment to JNL Series Trust Second Amended and Restated Distribution Agreement
EX 99.28(e)(1)(ii)
Amendment to JNL Series Trust
This Amendment is made by and between JNL Series Trust, a Massachusetts business trust (the “Trust”), and Xxxxxxx National Life Distributors LLC (“JNLD”), a broker-dealer registered with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority.
Whereas, the Trust and JNLD (the “Parties”) entered into a Second Amended and Restated Distribution Agreement effective as of July 1, 2017 (the “Agreement”), whereby the Trust appointed JNLD as distributor (the “Distributor”) of the shares of the separate funds (the “Funds”) set forth on Schedule A of the Agreement.
Whereas, the Board of Trustees of the Trust has approved the following changes (collectively, the “Changes”), effective September 25, 2017:
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1)
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An increase in the 12b-1 fee payable by each fund, for Class A, from 0.20% to 0.30%.
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2)
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Renaming all existing Class B shares to Class I shares for funds that have Class B shares.
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3)
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The addition of Class I shares for funds that do not have Class B shares, including all fund of funds.
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4)
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Fund name changes for the following funds:
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JNL Disciplined Moderate Fund to the JNL Moderate Growth Allocation Fund;
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JNL Disciplined Moderate Growth Fund to the JNL Growth Allocation Fund;
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JNL Disciplined Growth Fund to the JNL Aggressive Growth Allocation Fund;
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JNL Institutional Alt 20 Fund to the JNL Institutional Alt 25 Fund;
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JNL/American Funds Balanced Allocation Fund to the JNL/American Funds Moderate Growth Allocation Fund;
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JNL/BlackRock Natural Resources Fund to the JNL/BlackRock Global Natural Resources Fund;
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JNL/DFA Moderate Allocation Fund to the JNL/DFA Moderate Growth Allocation Fund; and
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JNL/PIMCO Total Return Bond Fund to the JNL/DoubleLine® Core Fixed Income Fund.
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5)
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The adoption of a 12b-1 fee for the following fund of funds for Class A shares:
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JNL Institutional Alt 25 Fund;
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JNL Institutional Alt 50 Fund;
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JNL/Franklin Xxxxxxxxx Founding Strategy Fund;
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JNL/Mellon Capital 10 x 10 Fund;
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JNL/Mellon Capital Index 5 Fund;
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JNL/MMRS Conservative Fund;
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JNL/MMRS Growth Fund;
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JNL/MMRS Moderate Fund;
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JNL/S&P 4 Fund;
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JNL/S&P Managed Aggressive Growth Fund;
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JNL/S&P Managed Conservative Fund;
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JNL/S&P Managed Growth Fund;
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JNL/S&P Managed Moderate Fund;
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JNL/S&P Managed Moderate Growth Fund;
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JNL Aggressive Growth Allocation Fund;
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JNL Moderate Growth Allocation Fund; and
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JNL Growth Allocation Fund.
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6)
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The addition of the following new funds with a Class A reference/0.30% Class A fee and Class I reference with “None” designated as the Class I fee for each fund:
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JNL/ClearBridge Large Cap Growth Fund;
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JNL/GQG Emerging Markets Equity Fund;
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JNL/Invesco Diversified Dividend Fund;
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JNL/PIMCO Income Fund;
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JNL/Mellon Capital S&P 1500 Growth Index Fund;
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JNL/Mellon Capital S&P 1500 Value Index Fund;
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JNL/Mellon Capital Consumer Staples Sector Fund;
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JNL/Mellon Capital Materials Sector Fund;
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JNL/Mellon Capital Industrials Sector Fund;
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JNL/Mellon Capital Real Estate Sector Fund;
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JNL/Vanguard Capital Growth Fund;
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JNL/Vanguard Equity Income Fund;
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JNL/Vanguard International Fund;
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JNL/Vanguard Small Company Growth Fund;
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JNL/Vanguard U.S. Stock Market Index Fund;
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JNL/Vanguard International Stock Market Index Fund;
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JNL/Vanguard Global Bond Market Index Fund;
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JNL/Vanguard Moderate Allocation Fund;
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JNL/Vanguard Moderate Growth Allocation Fund; and
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JNL/Vanguard Growth Allocation Fund.
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7)
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The addition of the following new fund with a Class I reference with “None” designated as the Class I fee:
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JNL S&P 500 Index Fund.
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8)
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Fund mergers for the following funds:
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JNL Alt 65 Fund into the JNL Institutional Alt 50 Fund;
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JNL Institutional Alt 35 Fund into the JNL Institutional Alt 20 Fund; and
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JNL/Red Rocks Listed Private Equity Fund into the JNL/Xxxxxx Oakmark Global Equity Fund.
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Whereas, pursuant to the approval of the Changes, as outlined above, the Parties have agreed to amend Schedule A of the Agreement, effective September 25, 2017, to:
|
1)
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Update the 12b-1 fee payable by each fund, for Class A, from 0.20% to 0.30%.
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|
2)
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Rename Class B share references to Class I for funds that have Class B shares.
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3)
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Add Class I share references for funds that do not have Class B shares, including all fund of funds.
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4)
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Add Class A references and 12b-1 fees for the fund of funds outlined above.
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5)
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Add the new funds outlined above with a Class A reference/0.30% Class A fee for certain funds and a Class I reference with “None” designated as the Class I fee for each new fund.
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6)
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Update the fund names for the fund name changes outlined above.
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7)
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Remove the following funds and each fund’s respective fees:
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JNL Alt 65 Fund;
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JNL Institutional Alt 35 Fund; and
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JNL/Red Rocks Listed Private Equity Fund.
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- 2 -
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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Schedule A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated September 25, 2017, attached hereto.
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2)
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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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3)
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This Amendment may be executed in one or more counterparts, which together shall constitute one document.
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[signature page immediately follows]
- 3 -
In Witness Whereof, the Trust and the Distributor have caused this Amendment to be executed, effective September 25, 2017.
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Attest:
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||||
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By:
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/s/ Xxxxx X. Xxxxxx
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By:
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/s/ Xxxxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
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Name:
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Xxxxxxx X. Xxxxxx
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||
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Title:
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Assistant Secretary
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|||
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Attest:
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Xxxxxxx National Life Distributors LLC
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|||
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By:
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/s/ Xxxxx Xxxxxx
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By:
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/s/ Xxxxxx Xxxx
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Xxxxx Xxxxxx
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Name:
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Xxxxxx Xxxx
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||
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Title:
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EVP JNLD Operations
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|||
- 4 -
Schedule A
Dated September 25, 2017
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Fund
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Class
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Maximum
12b-1 Fee1
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JNL/American Funds Balanced Fund
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Class A
Class I
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0.30%
None
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JNL/American Funds Blue Chip Income and Growth Fund
|
Class A
Class I
|
0.30%
None
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JNL/American Funds Global Bond Fund
|
Class A
Class I
|
0.30%
None
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|
JNL/American Funds Global Small Capitalization Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/American Funds Growth-Income Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/American Funds International Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/American Funds New World Fund
|
Class A
Class I
|
0.30%
None
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JNL Aggressive Growth Allocation Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL Growth Allocation Fund
|
Class A
Class I
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0.30%
None
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JNL Moderate Growth Allocation Fund
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Class A
Class I
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0.30%
None
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JNL Institutional Alt 25 Fund
|
Class A
Class I
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0.30%
None
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JNL Institutional Alt 50 Fund
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Class A
Class I
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0.30%
None
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JNL Multi-Manager Alternative Fund
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Class A
Class I
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0.30%
None
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JNL Multi-Manager Mid Cap Fund
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Class A
Class I
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0.30%
None
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JNL Multi-Manager Small Cap Growth Fund
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Class A
Class I
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0.30%
None
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JNL Multi-Manager Small Cap Value Fund
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Class A
Class I
|
0.30%
None
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JNL/AB Dynamic Asset Allocation Fund
|
Class A
Class I
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0.30%
None
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JNL/American Funds Growth Allocation Fund
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Class A
Class I
|
0.30%
None
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JNL/American Funds Moderate Growth Allocation Fund
|
Class A
Class I
|
0.30%
None
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JNL/AQR Large Cap Relaxed Constraint Equity Fund
|
Class A
Class I
|
0.30%
None
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JNL/AQR Managed Futures Strategy Fund
|
Class A
Class I
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0.30%
None
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JNL/BlackRock Global Allocation Fund
|
Class A
Class I
|
0.30%
None
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JNL/BlackRock Global Natural Resources Fund
|
Class A
Class I
|
0.30%
None
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A-1
|
Fund
|
Class
|
Maximum
12b-1 Fee1
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JNL/BlackRock Large Cap Select Growth Fund
|
Class A
Class I
|
0.30%
None
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JNL/Boston Partners Global Long Short Equity Fund
|
Class A
Class I
|
0.30%
None
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JNL/Brookfield Global Infrastructure and MLP Fund
|
Class A
Class I
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0.30%
None
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JNL/Causeway International Value Select Fund
|
Class A
Class I
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0.30%
None
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JNL/ClearBridge Large Cap Growth Fund
|
Class A
Class I
|
0.30%
None
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JNL/Crescent High Income Fund
|
Class A
Class I
|
0.30%
None
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JNL/DFA Growth Allocation Fund
|
Class A
Class I
|
0.30%
None
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JNL/DFA Moderate Growth Allocation Fund
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Class A
Class I
|
0.30%
None
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JNL/DFA U.S. Core Equity Fund
|
Class A
Class I
|
0.30%
None
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JNL/DoubleLine® Core Fixed Income Fund
|
Class A
Class I
|
0.30%
None
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JNL/DoubleLine® Emerging Markets Fixed Income Fund
|
Class A
Class I
|
0.30%
None
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JNL/DoubleLine® Shiller Enhanced CAPE® Fund
|
Class A
Class I
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0.30%
None
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JNL/FPA + DoubleLine® Flexible Allocation Fund
|
Class A
Class I
|
0.30%
None
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JNL/Franklin Xxxxxxxxx Founding Strategy Fund
|
Class A
Class I
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0.30%
None
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JNL/Franklin Xxxxxxxxx Global Fund
|
Class A
Class I
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0.30%
None
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JNL/Franklin Xxxxxxxxx Global Multisector Bond Fund
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Class A
Class I
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0.30%
None
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JNL/Franklin Xxxxxxxxx Income Fund
|
Class A
Class I
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0.30%
None
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JNL/Franklin Xxxxxxxxx International Small Cap Growth Fund
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Class A
Class I
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0.30%
None
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JNL/Franklin Xxxxxxxxx Mutual Shares Fund
|
Class A
Class I
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0.30%
None
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JNL/Xxxxxxx Sachs Core Plus Bond Fund
|
Class A
Class I
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0.30%
None
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JNL/Xxxxxxx Xxxxx Emerging Markets Debt Fund
|
Class A
Class I
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0.30%
None
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JNL/GQG Emerging Markets Equity Fund
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Class A
Class I
|
0.30%
None
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JNL/Xxxxxx Oakmark Global Equity Fund
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Class A
Class I
|
0.30%
None
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JNL/Invesco China-India Fund
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Class A
Class I
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0.30%
None
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JNL/Invesco Diversified Dividend Fund
|
Class A
Class I
|
0.30%
None
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A-2
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Fund
|
Class
|
Maximum
12b-1 Fee1
|
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JNL/Invesco Global Real Estate Fund
|
Class A
Class I
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0.30%
None
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JNL/Invesco International Growth Fund
|
Class A
Class I
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0.30%
None
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JNL/Invesco Mid Cap Value Fund
|
Class A
Class I
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0.30%
None
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JNL/Invesco Small Cap Growth Fund
|
Class A
Class I
|
0.30%
None
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JNL/JPMorgan MidCap Growth Fund
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Class A
Class I
|
0.30%
None
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JNL/JPMorgan U.S. Government & Quality Bond Fund
|
Class A
Class I
|
0.30%
None
|
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JNL/Lazard Emerging Markets Fund
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Class A
Class I
|
0.30%
None
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JNL/Mellon Capital 10 x 10 Fund
|
Class A
Class I
|
0.30%
None
|
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JNL/Mellon Capital Bond Index Fund
|
Class A
Class I
|
0.30%
None
|
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JNL/Mellon Capital Consumer Staples Sector Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital Emerging Markets Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital European 30 Fund |
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital Index 5 Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital Industrials Sector Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital International Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital Materials Sector Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital MSCI KLD 400 Social Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital Pacific Rim 30 Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital Real Estate Sector Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital S&P 400 MidCap Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital S&P 500 Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL S&P 500 Index Fund
|
Class I
|
None
|
|
JNL/Mellon Capital S&P 1500 Growth Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital S&P 1500 Value Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Mellon Capital Small Cap Index Fund
|
Class A
Class I
|
0.30%
None
|
A-3
|
Fund
|
Class
|
Maximum
12b-1 Fee1
|
|
JNL/Mellon Capital Utilities Sector Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/MFS Mid Cap Value Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/MMRS Conservative Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/MMRS Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/MMRS Moderate Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Xxxxxxxxx Xxxxxx Strategic Income Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Xxxxxxxxxxx Emerging Markets Innovator Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Xxxxxxxxxxx Global Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PIMCO Income Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PIMCO Real Return Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PPM America Floating Rate Income Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PPM America High Yield Bond Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PPM America Mid Cap Value Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PPM America Small Cap Value Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PPM America Total Return Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/PPM America Value Equity Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Scout Unconstrained Bond Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/X. Xxxx Price Established Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/X. Xxxx Price Mid-Cap Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/X. Xxxx Price Short-Term Bond Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/X. Xxxx Price Value Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Westchester Capital Event Driven Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/WMC Balanced Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/WMC Government Money Market Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/WMC Value Fund
|
Class A
Class I
|
0.30%
None
|
A-4
|
Fund
|
Class
|
Maximum
12b-1 Fee1
|
|
JNL/S&P 4 Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Competitive Advantage Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Dividend Income & Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P International 5 Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Intrinsic Value Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Managed Aggressive Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Managed Conservative Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Managed Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Managed Moderate Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Managed Moderate Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Mid 3 Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/S&P Total Yield Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard Capital Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard Equity Income Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard Global Bond Market Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard Growth Allocation Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard International Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard International Stock Market Index Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard Moderate Allocation Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard Moderate Growth Allocation Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard Small Company Growth Fund
|
Class A
Class I
|
0.30%
None
|
|
JNL/Vanguard U.S. Stock Market Index Fund
|
Class A
Class I
|
0.30%
None
|
1 As a percentage of the average daily net assets attributable to the specified class of shares.
A-5
