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EX-99.B5-l
AMENDMENT
TO
AMENDED INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT
BETWEEN
JNL SERIES TRUST
AND
XXXXXXX NATIONAL FINANCIAL SERVICES, INC.
This AMENDMENT is by and between JNL Series Trust, a Massachusetts
business trust (the "Trust") and Xxxxxxx National Financial Services, Inc., a
Delaware corporation (the "Adviser").
WHEREAS, the Trust and the Adviser entered into an Amended Investment
Advisory and Management Agreement dated August 17, 1995 (the "Agreement"),
whereby the Trust retained the Adviser to perform investment advisory and
management services for the Series of the Trust enumerated in the Agreement;
and
WHEREAS, the names of three existing Series of the Trust will be changed
effective May 1, 1997, and the Trust desires the Adviser to continue performing
investment advisory and management services for these Series of the Trust; and
WHEREAS, the Adviser agrees to continue serving as the investment adviser
and business manager for the above-referenced Series of the Trust on the terms
and conditions set forth in the Agreement.
NOW THEREFORE, in consideration of the mutual covenants contained herein
and for other good and valuable consideration, the Trust and the Adviser agree
as follows:
1. Effective May 1, 1997, the Adviser shall continue serving as the
investment adviser and business manager for the JNL/Phoenix Investment Counsel
Balanced Series, JNL/Phoenix Investment Counsel Growth Series and PPM
America/JNL Value Equity Series at which date the names of these Series shall
be changed to the PPM America/JNL Balanced Series, JNL/Xxxxxx Growth Series and
JNL/Xxxxxx Value Equity Series, respectively.
2. As compensation for services performed and the facilities and
personnel provided by the Adviser under the Agreement, the Trust will pay to
the Adviser, promptly after the end of each month for the services rendered by
the Adviser during the preceding month, the sum of the following amounts:
1
2
$0 to $50 to Over
(*M - Million) $50 M $150 M $150 to $300 M $300 to $500 M $500 M
----- ------ -------------- -------------- ------
JNL/Xxxxxx Growth Series .90% .90% .85% .80% .80%
JNL/Xxxxxx Value Equity Series .90% .90% .85% .80% .80%
PPM America/JNL Balanced
Series .75% .70% .675% .65% .625%
3. The Trust and the Adviser agree to abide and be bound by all of the
terms and conditions set forth in the Agreement.
IN WITNESS WHEREOF, the Trust and the Adviser have caused this Agreement
to be executed by their duly authorized officers as of the 18th day of April,
1997.
JNL SERIES TRUST
By: /s/ Xxxx X. Xxxxxxx
-----------------------------
Name: Xxxx X. Xxxxxxx
---------------------------
Title: President
--------------------------
XXXXXXX NATIONAL FINANCIAL
SERVICES, INC.
By: /s/ Xxxxx X. Xxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxx
---------------------------
Title: Chief Operating Officer
and Treasurer
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