AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
MELLON CAPITAL MANAGEMENT CORPORATION
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and MELLON CAPITAL MANAGEMENT CORPORATION, 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 February 18, 2004, as amended ("Agreement"),
whereby Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to the JNL Series Trust.
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.
WHEREAS, the Adviser and Sub-Adviser agree to amend the sub-advisory fees
as forth on Schedule B to the Agreement to reflect fee reductions for all Funds,
except for the following seven funds: 1) JNL/S&P Moderate Retirement Strategy
Fund; 2) JNL/S&P Moderate Growth Retirement Strategy Fund; 3) JNL/S&P Growth
Retirement Strategy Fund; 4) JNL/S&P Competitive Advantage Fund; 5) JNL/S&P
Dividend Income & Growth Fund; 6) JNL/S&P Intrinsic Value Fund; and 7) JNL/S&P
Total Yield Fund, which are co-sub-advised by the Sub-Adviser and Standard &
Poor's Investment Advisory Services, LLC.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to amend the Agreement as follows effective as of
January 1, 2009:
1. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with the amended Schedule B dated January 1, 2009, attached
hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 1st day of January, 2009.
XXXXXXX NATIONAL ASSET MELLON CAPITAL MANAGEMENT
MANAGEMENT, LLC CORPORATION
By: By:
Name: XXXX X. XXXXX Name:
Title: PRESIDENT Title:
SCHEDULE B
JANUARY 1, 2009
(Compensation)
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JNL/MELLON CAPITAL MANAGEMENT S&P 500 INDEX FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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First $50 million 0.09%
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Next $50 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/MELLON CAPITAL MANAGEMENT S&P 400 MIDCAP INDEX FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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First $50 million 0.09%
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Next $50 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/MELLON CAPITAL MANAGEMENT SMALL CAP INDEX FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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First $50 million 0.09%
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Next $50 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/MELLON CAPITAL MANAGEMENT INTERNATIONAL INDEX FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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First $50 million 0.09%
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Next $50 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/MELLON CAPITAL MANAGEMENT BOND INDEX FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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First $50 million 0.09%
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Next $50 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/MELLON CAPITAL MANAGEMENT ENHANCED
S&P 500 STOCK INDEX FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $50 million 0.25%
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Over $50 million 0.20%
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JNL/MELLON CAPITAL MANAGEMENT EUROPEAN 30 FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $50 million 0.09%
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$50 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/MELLON CAPITAL MANAGEMENT PACIFIC RIM 30 FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $50 million 0.09%
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$50 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/S&P MODERATE RETIREMENT STRATEGY FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/S&P MODERATE GROWTH RETIREMENT STRATEGY FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/S&P GROWTH RETIREMENT STRATEGY FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/S&P COMPETITIVE ADVANTAGE FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/S&P DIVIDEND INCOME & GROWTH FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/S&P INTRINSIC VALUE FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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JNL/S&P TOTAL YIELD FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 million 0.06%
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$100 to $750 million 0.03%
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Over $750 million 0.015%
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