AMENDMENT
TO
INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT
BETWEEN
JNL SERIES TRUST
AND
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
This AMENDMENT is made by and between JNL SERIES TRUST, a Massachusetts
business trust ("Trust") and XXXXXXX NATIONAL ASSET MANAGEMENT, LLC, a Michigan
limited liability company ("Adviser").
WHEREAS, the Trust and the Adviser are parties to an Amended and Restated
Investment Advisory and Management Agreement dated February 28, 2012
("Agreement").
WHEREAS, the parties have agreed to amend Schedule A and Schedule B of the
Agreement to add the following new funds ("New Funds"), to add each new fund's
respective fee schedule, and to amend the following fund names ("Fund Name
Changes"):
NEW FUNDS (EFFECTIVE APRIL 30, 2012):
1) JNL/American Funds Balanced Allocation Fund;
2) JNL/American Funds Growth Allocation Fund;
3) JNL/Mellon Capital Management Dow Xxxxx U.S. Contrarian Opportunities
Index Fund;
4) JNL/Xxxxxx Xxxxxxx Mid Cap Growth Fund; and
5) JNL/Xxxxxxxxx Xxxxxx Strategic Income Fund.
FUND NAME CHANGES (EFFECTIVE APRIL 30, 2012):
1) JNL/Capital Guardian U.S. Growth Equity Fund to: JNL/UBS Large Cap Select
Growth Fund; and
2) JNL/Eagle Core Equity Fund to: JNL/DFA U.S. Core Equity Fund.
NOW THEREFORE, 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 April 30, 2012, attached hereto.
2. Schedule B to the Agreement is hereby deleted and replaced in its entirety
with Schedule B dated April 30, 2012, attached hereto.
3. This Amendment may be executed in two or more counterparts, which together
shall constitute one document.
IN WITNESS WHEREOF, the Adviser and the Trust have caused this Amendment
to be executed as of March 15, 2012, dated as of April 30, 2012.
JNL SERIES TRUST XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
By: /s/ Xxxxx X. Xxxxxxx By: /s/ Xxxx X. Xxxxx
------------------------- -------------------------
Name: Xxxxx X. Xxxxxxx Name: Xxxx X. Xxxxx
Title: Assistant Secretary Title: President and CEO
SCHEDULE A
DATED APRIL 30, 2012
(List of Funds)
----------------------------------------------------
FUNDS
----------------------------------------------------
JNL/American Funds Balanced Allocation Fund
----------------------------------------------------
JNL/American Funds Blue Chip Income and Growth
Fund
----------------------------------------------------
JNL/American Funds Global Bond Fund
----------------------------------------------------
JNL/American Funds Global Small Capitalization
Fund
----------------------------------------------------
JNL/American Funds Growth Allocation Fund
----------------------------------------------------
JNL/American Funds Growth-Income Fund
----------------------------------------------------
JNL/American Funds International Fund
----------------------------------------------------
JNL/American Funds New World Fund
----------------------------------------------------
JNL/AQR Managed Futures Strategy Fund
----------------------------------------------------
JNL/BlackRock Commodity Securities Fund
----------------------------------------------------
JNL/BlackRock Global Allocation Fund
----------------------------------------------------
JNL/Brookfield Global Infrastructure Fund
----------------------------------------------------
JNL/Capital Guardian Global Diversified Research
Fund
----------------------------------------------------
JNL/Capital Guardian Global Balanced Fund
----------------------------------------------------
JNL/DFA U.S. Core Equity Fund
----------------------------------------------------
JNL/Eagle SmallCap Equity Fund
----------------------------------------------------
JNL/Eastspring Investments Asia ex-Japan Fund
----------------------------------------------------
JNL/Eastspring Investments China-India Fund
----------------------------------------------------
JNL/Franklin Xxxxxxxxx Founding Strategy Fund
----------------------------------------------------
JNL/Franklin Xxxxxxxxx Global Growth Fund
----------------------------------------------------
JNL/Franklin Xxxxxxxxx Global Multisector Bond
Fund
----------------------------------------------------
JNL/Franklin Xxxxxxxxx Income Fund
----------------------------------------------------
JNL/Franklin Xxxxxxxxx International Small Cap
Growth Fund
----------------------------------------------------
JNL/Franklin Xxxxxxxxx Mutual Shares Fund
----------------------------------------------------
JNL/Franklin Xxxxxxxxx Small Cap Value Fund
----------------------------------------------------
JNL/Xxxxxxx Sachs Core Plus Bond Fund
----------------------------------------------------
A-1
----------------------------------------------------
FUNDS
----------------------------------------------------
JNL/Xxxxxxx Xxxxx Emerging Markets Debt Fund
----------------------------------------------------
JNL/Xxxxxxx Sachs Mid Cap Value Fund
----------------------------------------------------
JNL/Xxxxxxx Xxxxx U.S. Equity Flex Fund
----------------------------------------------------
JNL Institutional Alt 20 Fund
----------------------------------------------------
JNL Institutional Alt 35 Fund
----------------------------------------------------
JNL Institutional Alt 50 Fund
----------------------------------------------------
JNL Institutional Alt 65 Fund
----------------------------------------------------
JNL/Invesco International Growth Fund
----------------------------------------------------
JNL/Invesco Large Cap Growth Fund
----------------------------------------------------
JNL/Invesco Global Real Estate Fund
----------------------------------------------------
JNL/Invesco Small Cap Growth Fund
----------------------------------------------------
JNL/Ivy Asset Strategy Fund
----------------------------------------------------
JNL/JPMorgan International Value Fund
----------------------------------------------------
JNL/JPMorgan MidCap Growth Fund
----------------------------------------------------
JNL/JPMorgan U.S. Government & Quality Bond Fund
----------------------------------------------------
JNL/Lazard Emerging Markets Fund
----------------------------------------------------
JNL/Lazard Mid Cap Equity Fund
----------------------------------------------------
JNL/M&G Global Basics Fund
----------------------------------------------------
JNL/M&G Global Leaders Fund
----------------------------------------------------
JNL/Mellon Capital Management Bond Index Fund
----------------------------------------------------
JNL/Mellon Capital Management Dow Xxxxx
U.S. Contrarian Opportunities Index Fund
----------------------------------------------------
JNL/Mellon Capital Management Emerging Markets
Index Fund
----------------------------------------------------
JNL/Mellon Capital Management European 30 Fund
----------------------------------------------------
JNL/Mellon Capital Management Global Alpha Fund
----------------------------------------------------
JNL/Mellon Capital Management Index 5 Fund
----------------------------------------------------
JNL/Mellon Capital Management International
Index Fund
----------------------------------------------------
JNL/Mellon Capital Management Pacific Rim 30
Fund
----------------------------------------------------
JNL/Mellon Capital Management Small Cap Index
Fund
----------------------------------------------------
A-2
----------------------------------------------------
FUNDS
----------------------------------------------------
JNL/Mellon Capital Management 10 x 10 Fund
----------------------------------------------------
JNL/Mellon Capital Management S&P 500 Index Fund
----------------------------------------------------
JNL/Mellon Capital Management S&P 400 MidCap
Index Fund
----------------------------------------------------
JNL/Xxxxxx Xxxxxxx Mid Cap Growth Fund
----------------------------------------------------
JNL/Xxxxxxxxx Xxxxxx Strategic Income Fund
----------------------------------------------------
JNL/Xxxxxxxxxxx Global Growth Fund
----------------------------------------------------
JNL/PPM America Floating Rate Income Fund
----------------------------------------------------
JNL/PIMCO Real Return Fund
----------------------------------------------------
JNL/PIMCO Total Return Bond Fund
----------------------------------------------------
JNL/PPM America High Yield Bond Fund
----------------------------------------------------
JNL/PPM America Mid Cap Value Fund
----------------------------------------------------
JNL/PPM America Small Cap Value Fund
----------------------------------------------------
JNL/PPM America Value Equity Fund
----------------------------------------------------
JNL/Red Rocks Listed Private Equity Fund
----------------------------------------------------
JNL/X. Xxxx Price Established Growth Fund
----------------------------------------------------
JNL/X. Xxxx Price Mid-Cap Growth Fund
----------------------------------------------------
JNL/X. Xxxx Price Short-Term Bond Fund
----------------------------------------------------
JNL/X. Xxxx Price Value Fund
----------------------------------------------------
JNL/WMC Balanced Fund
----------------------------------------------------
JNL/WMC Money Market Fund
----------------------------------------------------
JNL/WMC Value Fund
----------------------------------------------------
JNL/S&P Managed Growth Fund
----------------------------------------------------
JNL/S&P Managed Conservative Fund
----------------------------------------------------
JNL/S&P Managed Moderate Growth Fund
----------------------------------------------------
JNL/S&P Managed Moderate Fund
----------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund
----------------------------------------------------
JNL/S&P Competitive Advantage Fund
----------------------------------------------------
JNL/S&P Dividend Income & Growth Fund
----------------------------------------------------
A-3
----------------------------------------------------
FUNDS
----------------------------------------------------
JNL/S&P Intrinsic Value Fund
----------------------------------------------------
JNL/S&P Total Yield Fund
----------------------------------------------------
JNL/S&P 4 Fund
----------------------------------------------------
JNL/UBS Large Cap Select Growth Fund
----------------------------------------------------
JNL Disciplined Moderate Fund
----------------------------------------------------
JNL Disciplined Moderate Growth Fund
----------------------------------------------------
JNL Disciplined Growth Fund
----------------------------------------------------
A-4
SCHEDULE B
DATED APRIL 30, 2012
(Compensation)
--------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
--------- --------- ---------------
(Annual Rate
Based on
Average Net
Assets of each
Fund)
--------------------------------------------------------------------------------
JNL/American Funds Balanced $0 to $1 billion .300%
Allocation Fund Over $1 billion .275%
--------------------------------------------------------------------------------
JNL/American Funds Blue Chip Income $0 to $1 billion .70%
and Growth Fund Over $1 billion .65%
--------------------------------------------------------------------------------
JNL/American Funds Global Bond Fund $0 to $1 billion .70%
Over $1 billion .65%
--------------------------------------------------------------------------------
JNL/American Funds Global Small $0 to $1 billion .75%
Capitalization Fund Over $1 billion .70%
--------------------------------------------------------------------------------
JNL/American Funds Growth Allocation $0 to $1 billion .300%
Fund Over $1 billion .275%
--------------------------------------------------------------------------------
JNL/American Funds Growth-Income Fund $0 to $1 billion .70%
Over $1 billion .65%
--------------------------------------------------------------------------------
JNL/American Funds International Fund $0 to $1 billion .85%
Over $1 billion .80%
--------------------------------------------------------------------------------
JNL/American Funds New World Fund $0 to $1 billion 1.05%
Over $1 billion 1.00%
--------------------------------------------------------------------------------
JNL/AQR Managed Futures Strategy Fund $0 to $500 million .95%
$500 million to $1 .90%
billion .85%
Over $1 billion
--------------------------------------------------------------------------------
JNL/BlackRock Commodity Securities Fund $0 to $300 million .70%
Over $300 million .60%
--------------------------------------------------------------------------------
JNL/BlackRock Global Allocation Fund $0 to $1 billion .75%
Over $1 billion .70%
--------------------------------------------------------------------------------
JNL/Brookfield Global Infrastructure $0 to $1 billion .80%
Fund Over $1 billion .75%
--------------------------------------------------------------------------------
JNL/Capital Guardian Global $0 to $150 million .75%
Diversified Research Fund $150 million to .70%
$500 million
$500 million to
$750 million .65%
Over $750 million .60%
-------------------------------------------------------------------------------
JNL/Capital Guardian Global Balanced $0 to $500 million .65%
Fund Over $500 million .60%
--------------------------------------------------------------------------------
JNL/DFA U.S. Core Equity Fund $0 to $100 million .65%
$100 million to
$300 million .60%
Over $300 million .55%
--------------------------------------------------------------------------------
B-1
--------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
-------- -------- ---------------
(Annual Rate
Based on
Average Net
Assets of each
Fund)
--------------------------------------------------------------------------------
JNL/Eagle SmallCap Equity Fund $0 to $100 million .75%
$100 million to .70%
$500 million
Over $500 million .65%
--------------------------------------------------------------------------------
JNL/Eastspring Investments Asia ex-Japan $0 to $500 million .90%
Fund Over $500 million .85%
--------------------------------------------------------------------------------
JNL/Eastspring Investments China-India $0 to $500 million .90%
Fund Over $500 million .85%
--------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Founding Strategy All Assets 0%
Fund
--------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Global Growth $0 to $300 million .75%
Fund $300 million to
$500 million .65%
Over $500 million .60%
--------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Global $0 to $1 billion .75%
Multisector Bond Fund Over $1 billion .70%
--------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Income Fund $0 to $100 million .80%
$100 million to .75%
$200 million
$200 million to
$500 million .65%
Over $500 million .60%
--------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx International $0 to $500 million .95%
Small Cap Growth Fund Over $500 million .90%
--------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Mutual Shares $0 to $500 million .75%
Fund Over $500 million .70%
--------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Small Cap Value $0 to $200 million .85%
Fund $200 million to
$500 million .77%
Over $500 million .75%
--------------------------------------------------------------------------------
JNL/Xxxxxxx Sachs Core Plus Bond Fund $0 to $500 million .60%
Over $500 million .55%
--------------------------------------------------------------------------------
JNL/Xxxxxxx Xxxxx Emerging Markets Debt $0 to $200 million .75%
Fund $200 million to $1
billion .70%
Over $1 billion .675%
--------------------------------------------------------------------------------
JNL/Xxxxxxx Sachs Mid Cap Value Fund $0 to $100 million .75%
Over $100 million .70%
--------------------------------------------------------------------------------
JNL/Xxxxxxx Xxxxx U.S. Equity Flex Fund $0 to $300 million .80%
Over $300 million .75%
--------------------------------------------------------------------------------
JNL Institutional Alt 20 Fund $0 to $500 million .15%
Over $500 million .10%
--------------------------------------------------------------------------------
JNL Institutional Alt 35 Fund $0 to $500 million .15%
Over $500 million .10%
--------------------------------------------------------------------------------
JNL Institutional Alt 50 Fund $0 to $500 million .15%
Over $500 million .10%
--------------------------------------------------------------------------------
B-2
--------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
--------- -------- ---------------
(Annual Rate
Based on
Average Net
Assets of each
Fund)
--------------------------------------------------------------------------------
JNL Institutional Alt 65 Fund $0 to $500 million .15%
Over $500 million .10%
--------------------------------------------------------------------------------
JNL/Invesco International Growth Fund $0 to $150 million .70%
$150 million to
$500 million .65%
Over $500 million .60%
--------------------------------------------------------------------------------
JNL/Invesco Large Cap Growth Fund $0 to $150 million .70%
Over $150 million .65%
--------------------------------------------------------------------------------
JNL/Invesco Global Real Estate Fund $0 to $50 million .75%
Over $50 million .70%
--------------------------------------------------------------------------------
JNL/Invesco Small Cap Growth Fund $0 to $300 million .85%
Over $300 million .80%
--------------------------------------------------------------------------------
JNL/Ivy Asset Strategy Fund $0 to $500 million .90%
$500 million to
$1.5 billion .85%
Over $1.5 billion .825%
--------------------------------------------------------------------------------
JNL/JPMorgan International Value Fund $0 to $150 million .70%
$150 million to
$500 million .65%
Over $500 million .60%
--------------------------------------------------------------------------------
JNL/JPMorgan MidCap Growth Fund $0 to $250 million .70%
$250 million to
$750 million .65%
$750 million to
$1,500 million .60%
Over $1,500 million .55%
--------------------------------------------------------------------------------
JNL/JPMorgan U.S. Government & Quality $0 to $150 million .50%
Bond Fund $150 million to $300
million .45%
$300 million to $500
million .40%
Over $500 million .35%
--------------------------------------------------------------------------------
JNL/Lazard Emerging Markets Fund $0 to $100 million 1.00%
$100 million to $250 .90%
million
Over $250 million .85%
--------------------------------------------------------------------------------
JNL/Lazard Mid Cap Equity Fund $0 to $50 million .75%
$50 million to $250 .70%
million
Over $250 million .65%
--------------------------------------------------------------------------------
JNL/M&G Global Basics Fund $0 to $500 million .85%
Over $500 million .80%
--------------------------------------------------------------------------------
JNL/M&G Global Leaders Fund $0 to $500 million .85%
Over $500 million .80%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management Emerging $0 to $500 million .40%
Markets Index Fund Over $500 million .35%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management Bond Index $0 to $500 million .30%
Fund $500 million to $750
million .25%
Over $750 million .24%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management Dow Xxxxx $0 to $1 billion .325%
U.S. Contrarian Opportunities Index Fund Over $1 billion .300%
--------------------------------------------------------------------------------
B-3
--------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
--------- -------- ---------------
(Annual Rate
Based on
Average Net
Assets of each
Fund)
--------------------------------------------------------------------------------
JNL/Mellon Capital Management Global $0 to $500 million 1.00%
Alpha Fund Over $500 million .90%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management European $0 to $50 million .37%
30 Fund $50 to $100 million .31%
Over $100 million .28%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management Index 5 All assets 0%
Fund
--------------------------------------------------------------------------------
JNL/Mellon Capital Management $0 to $500 million .30%
International Index Fund $500 million to $750
million .25%
Over $750 million .24%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management Pacific $0 to $50 million .37%
Rim 30 Fund $50 to $100 million .31%
Over $100 million .28%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management Small Cap $0 to $500 million .29%
Index Fund $500 million to $750
million .24%
Over $750 million .23%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management 10 x 10 All assets 0%
Fund
--------------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 500 $0 to $500 million .29%
Index Fund $500 million to $750
million .24%
Over $750 million .23%
--------------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 400 $0 to $500 million .29%
MidCap Index Fund $500 million to $750
million .24%
Over $750 million .23%
--------------------------------------------------------------------------------
JNL/Xxxxxx Xxxxxxx Mid Cap Growth Fund $0 to $1 billion .75%
Over $1 billion .70%
--------------------------------------------------------------------------------
JNL/Xxxxxxxxx Xxxxxx Strategic Income $0 to $1 billion .60%
Fund Over $1 billion .55%
--------------------------------------------------------------------------------
JNL/Xxxxxxxxxxx Global Growth Fund $0 to $300 million .70%
Over $300 million .60%
--------------------------------------------------------------------------------
JNL/PIMCO Real Return Fund $0 to $1 billion .50%
Over $1 billion .475%
--------------------------------------------------------------------------------
JNL/PIMCO Total Return Bond Fund All assets .50%
--------------------------------------------------------------------------------
JNL/PPM America Floating Rate Income $0 to $500 million .65%
Fund Over $500 million .60%
--------------------------------------------------------------------------------
JNL/PPM America High Yield Bond Fund $0 to $150 million .50%
$150 million to $500
million .45%
Over $500 million .425%
--------------------------------------------------------------------------------
JNL/PPM America Mid Cap Value Fund $0 to $500 million .75%
Over $500 million .70%
--------------------------------------------------------------------------------
JNL/PPM America Small Cap Value Fund $0 to $500 million .75%
Over $500 million .70%
--------------------------------------------------------------------------------
B-4
--------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
--------- -------- ---------------
(Annual Rate
Based on
Average Net
Assets of each
Fund)
--------------------------------------------------------------------------------
JNL/PPM America Value Equity Fund $0 to $300 million .55%
Over $300 million .50%
--------------------------------------------------------------------------------
JNL/Red Rocks Listed Private Equity Fund $0 to $200 million .85%
Over $200 million .80%
--------------------------------------------------------------------------------
JNL/X. Xxxx Price Established Growth $0 to $150 million .65%
Fund $150 to $500 million .60%
Over $500 million .55%
--------------------------------------------------------------------------------
JNL/X. Xxxx Price Mid-Cap Growth Fund $0 to $150 million .75%
Over $150 million .70%
--------------------------------------------------------------------------------
JNL/X. Xxxx Price Short-Term Bond Fund $0 to $250 million .45%
$250 million to $1.5
billion .40%
Over $1.5 billion .375%
--------------------------------------------------------------------------------
JNL/X. Xxxx Price Value Fund $0 to $150 million .70%
$150 to $500 million .65%
Over $500 million .60%
--------------------------------------------------------------------------------
JNL/WMC Balanced Fund $0 to $50 million .55%
$50 million to $150
million .50%
$150 million to $300
million .475%
$300 million to $500
million .45%
Over $500 million .425%
--------------------------------------------------------------------------------
JNL/WMC Money Market Fund $0 to $500 million 0.28%
Over $500 million 0.25%
--------------------------------------------------------------------------------
JNL/WMC Value Fund $0 to $300 million .55%
$300 million to $500
million .50%
Over $500 million .45%
--------------------------------------------------------------------------------
JNL/S&P Managed Growth Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
JNL/S&P Managed Conservative Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
JNL/S&P Managed Moderate Growth Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
JNL/S&P Managed Moderate Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
JNL/S&P Competitive Advantage Fund $0 to $500 million .40%
Over $500 million .35%
--------------------------------------------------------------------------------
JNL/S&P Dividend Income & Growth Fund $0 to $500 million .40%
Over $500 million .35%
--------------------------------------------------------------------------------
JNL/S&P Intrinsic Value Fund $0 to $500 million .40%
Over $500 million .35%
--------------------------------------------------------------------------------
B-5
--------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
--------- -------- ---------------
(Annual Rate
Based on
Average Net
Assets of each
Fund)
--------------------------------------------------------------------------------
JNL/S&P Total Yield Fund $0 to $500 million .40%
Over $500 million .35%
--------------------------------------------------------------------------------
JNL/S&P 4 Fund All Assets 0%
--------------------------------------------------------------------------------
JNL/UBS Large Cap Select Growth Fund $0 to $150 million .70%
$150 million to $500
million .65%
$500 million to $750
million .60%
Over $750 million .55%
--------------------------------------------------------------------------------
JNL Disciplined Moderate Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
JNL Disciplined Moderate Growth Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
JNL Disciplined Growth Fund $0 to $500 million .13%
Over $500 million .08%
--------------------------------------------------------------------------------
B-6
