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EX-99.B5-u
AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN XXXXXXX NATIONAL FINANCIAL SERVICES, INC.
AND SALOMON BROTHERS ASSET MANAGEMENT INC
AMENDMENT effective as of February 2, 1998, by and between XXXXXXX
NATIONAL FINANCIAL SERVICES, INC., a Delaware corporation and registered
investment adviser ("Adviser"), and SALOMON BROTHERS ASSET MANAGEMENT INC, a
Delaware corporation and registered investment adviser ("Sub-Adviser").
WHEREAS, Adviser and Sub-Adviser entered into an Investment Sub-Advisory
Agreement executed as of February 8, 1995 ("Agreement"), whereby Adviser
retained Sub-Adviser to provide certain sub-investment advisory services to the
investment portfolios of the JNL Series Trust; and
WHEREAS, the Agreement provides that the Adviser will pay the Sub-Adviser
for the services provided and the expenses assumed pursuant to the Agreement a
sub-advisory fee as set forth on Schedule B to the Agreement and the
Sub-Adviser agrees to accept such sub-advisory fee as full compensation for
such services and expenses; and
WHEREAS, effective February 2, 1998, the Adviser desires to retain
Sub-Adviser to provide and Sub-Adviser agrees to provide sub-investment
advisory services to additional investment portfolios of the JNL Series Trust.
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 shall be amended and replaced with
Schedule A dated February 2, 1998, attached hereto.
2. Schedule B to the Agreement shall be amended and replaced with
Schedule B dated February 2, 1998, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 17th day of December, 1997.
XXXXXXX NATIONAL FINANCIAL SALOMON BROTHERS ASSET
SERVICES, INC. MANAGEMENT INC
By: /s/ Xxxxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxxx
---------------------------- ---------------------------
Name: Xxxxxx X. Xxxxxxx Name: Xxxxxxx X. Xxxxxx
-------------------------- --------------------------
Title: President Title: President
------------------------- -------------------------
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SCHEDULE A
DATED FEBRUARY 2, 1998
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, INC.
AND
SALOMON BROTHERS ASSET MANAGEMENT INC
Salomon Brothers/JNL U. S. Government & Quality Bond Series
Salomon Brothers/JNL Global Bond Series
Salomon Brothers/JNL High Yield Bond Series
Salomon Brothers/JNL Balanced Series
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SCHEDULE B
DATED FEBRUARY 2, 1998
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, INC.
AND
SALOMON BROTHERS ASSET MANAGEMENT INC
SALOMON BROTHERS/JNL U. S. GOVERNMENT & QUALITY BOND SERIES
Average Daily Net Assets Annual Rate
----------------------------------------------
0 to $50 Million: .225%
$50 Million to $150 Million: .225%
$150 Million to $300 Million: .175%
$300 Million to $500 Million: .150%
Amounts over $500 Million: .100%
SALOMON BROTHERS/JNL GLOBAL BOND SERIES
Average Daily Net Assets Annual Rate
----------------------------------------------
0 to $50 Million: .375%
$50 Million to $150 Million: .350%
$150 Million to $300 Million: .300%
$300 Million to $500 Million: .300%
Amounts over $500 Million: .250%
SALOMON BROTHERS/JNL HIGH YIELD BOND SERIES
Average Daily Net Assets Annual Rate
-----------------------------------------
0 to $50 Million: .35%
$50 Million to $100 Million: .30%
Amounts over $100 Million: .25%
SALOMON BROTHERS/JNL BALANCED SERIES
Average Daily Net Assets Annual Rate
-----------------------------------------
0 to $50 Million: .35%
$50 Million to $100 Million: .30%
Amounts over $100 Million: .25%
