EX-99.23(d)(88)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
XXXXXX INVESTMENT MANAGEMENT, INC.
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and XXXXXX INVESTMENT MANAGEMENT, INC., a Delaware corporation and
registered investment adviser ("Sub-Adviser").
WHEREAS, the Adviser and Sub-Adviser entered into an Investment
Sub-Advisory Agreement dated as of January 31, 2001 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to the investment portfolios 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 the removal of the JNL/Xxxxxx International
Equity Fund, Schedule A and Schedule B 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 A to the Agreement is hereby deleted and replaced in its entirety
with Schedule A dated May 2, 2005, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its entirety
with Schedule B dated May 2, 2005, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 2nd day of May, 2005.
XXXXXXX NATIONAL ASSET XXXXXX INVESTMENT
MANAGEMENT, LLC MANAGEMENT, INC.
By: By:
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Name: XXXXXX X. XXXXXXX Name:
-------------------- ------------------------------
Title: PRESIDENT Title:
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SCHEDULE A
DATED MAY 2, 2005
JNL/XXXXXX EQUITY XXXX
XXX/XXXXXX XXXXXX XXXXXX XXXX
XXX/XXXXXX VALUE EQUITY FUND
SCHEDULE B
DATED MAY 2, 2005
(Compensation)
JNL/XXXXXX EQUITY FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $150 million 0.475%
$150 to $300 million 0.40%
Over $300 million 0.325%
JNL/XXXXXX XXXXXX GROWTH FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $250 million 0.50%
Over $250 million 0.45%
JNL/XXXXXX VALUE EQUITY FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $150 million 0.475%
$150 to $300 million 0.40%
Over $300 million 0.325%