EX-99.23(d)(75)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
SALOMON BROTHERS ASSET 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 SALOMON BROTHERS ASSET 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
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 4, 2004, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated October 4, 2004, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 4th day of October, 2004.
XXXXXXX NATIONAL ASSET SALOMON BROTHERS ASSET
MANAGEMENT, LLC MANAGEMENT INC
By: By:
------------------------- ------------------------------
Name: XXXXXX X. XXXXXXX Name:
-------------------- ----------------------------
Title: PRESIDENT Title:
--------------------- ---------------------------
SCHEDULE A
DATED OCTOBER 4, 2004
(Funds)
JNL/Salomon Brothers High Yield Bond Fund
JNL/Salomon Brothers Strategic Bond Fund
JNL/Salomon Brothers U. S. Government & Quality Bond Fund
SCHEDULE B
DATED OCTOBER 4, 2004
(Compensation)
JNL/SALOMON BROTHERS HIGH YIELD BOND FUND
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 STRATEGIC BOND FUND
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 U. S. GOVERNMENT & QUALITY BOND FUND
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%