EX-99.23(d)(99)
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, the Adviser desires to appoint Sub-Adviser to provide, and
Sub-Adviser has agreed to provide, additional sub-investment advisory services
to a new investment portfolio of the JNL Series Trust, effective upon execution
or, if later, the date that initial capital for such investment portfolio is
first provided.
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 1, 2006, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated May 1, 2006, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 1st day of May, 2006.
XXXXXXX NATIONAL ASSET XXXXXXX SACHS ASSET
MANAGEMENT, LLC MANAGEMENT, L.P.
By: By:
Name: XXXX X. XXXXX Name:
Title: CHIEF FINANCIAL OFFICER Title:
SCHEDULE A
(FUNDS)
JNL/XXXXXXX SACHS SHORT DURATION BOND FUND
JNL/XXXXXXX XXXXX MID CAP VALUE FUND
SCHEDULE B
DATED MAY 1, 2006
(Compensation)
JNL/XXXXXXX SACHS SHORT DURATION BOND FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 TO $100 MILLION: .20%
$100 TO $250 MILLION: .17%
$250 TO $500 MILLION: .15%
OVER $500 MILLION: .12%
JNL/XXXXXXX XXXXX MID CAP VALUE FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 TO $100 MILLION: .50%
$OVER $100 MILLION: .45%
