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 (as amended, the "Agreement"),
whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment
advisory services to certain investment portfolios of JNL Series Trust
("Trust").
WHEREAS, the Adviser has appointed the Sub-Adviser to replace Credit Suisse
Asset Management, LLC to provide certain sub-investment advisory services to the
JNL/Credit Suisse Long/Short Fund of the Trust, which subsequently will be
renamed the JNL/Xxxxxxx Xxxxx U.S. Equity Flex Fund.
WHEREAS, Schedule A and Schedule B must be amended to add the JNL/Xxxxxxx
Sachs U.S. Equity Flex Fund to the Agreement.
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 October 11, 2010, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated October 11, 2010, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of June 28th, 2010, effective as of 11th day of
October, 2010.
XXXXXXX NATIONAL ASSET XXXXXXX SACHS ASSET
MANAGEMENT, LLC MANAGEMENT, L.P.
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxx X. X'Xxxxx
Name: Xxxx X. Xxxxx Name: Xxxxx X. X'Xxxxx
Title: President and CEO Title: Managing Director
SCHEDULE A
DATED OCTOBER 11, 2010
(Funds)
JNL/Xxxxxxx Xxxxx Core Plus Bond Fund
JNL/Xxxxxxx Sachs Emerging Markets Debt Fund
JNL/Xxxxxxx Xxxxx Mid Cap Value Fund
JNL/Xxxxxxx Sachs U.S. Equity Flex Fund
SCHEDULE B
DATED OCTOBER 11, 2010
(Compensation)
JNL/Xxxxxxx Xxxxx Core Plus Bond Fund
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $500 Million .25%
$500 Million to $1 Billion .17%
Amounts over $1 Billion .15%
JNL/Xxxxxxx Sachs Emerging Markets Debt Fund
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $200 Million .50%
Amounts over $200 Million .45%
JNL/Xxxxxxx Xxxxx Mid Cap Value Fund
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $100 Million .50%
Amounts over $100 Million .45%
JNL/Xxxxxxx Sachs U.S. Equity Flex Fund
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $150 Million .45%
Amounts over $150 Million .40%