Amendment to Management Fee Waiver Agreement Between JNL Series Trust and Jackson National Asset Management, LLC
Amendment to
Management Fee Waiver Agreement
Between JNL Series Trust and
Xxxxxxx National Asset Management, LLC
This Amendment is made by and between JNL Series Trust (the “Trust”) on behalf of the funds listed on Schedule A (each a “Fund” and collectively, the “Funds”) and Xxxxxxx National Asset Management, LLC (the “Adviser”).
Whereas, the Trust and the Adviser (“Parties”) entered into a Management Fee Waiver Agreement dated April 30, 2012 (“Agreement”), whereby the Adviser agreed to waive, for each Fund listed on Schedule A, a portion of its advisory fee in the amounts listed on Schedule A, as it may be amended and approved by the Board of Trustees of the Trust from time to time.
Whereas, the Parties agreed to amend Schedule A of the Agreement to: 1) change the name of the JNL/Xxxxxxx Xxxxx Mid Cap Value Fund to the JNL/MFS Mid Cap Value Fund, pursuant to a sub-adviser replacement; 2) remove the JNL/Xxxxxx Xxxxxxx Mid Cap Growth Fund and its fee waiver, pursuant to a fund merger; and 3) remove the JNL Multi-Manager Alternative Fund and its fee waiver, pursuant to a permanent advisory fee reduction.
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:
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Schedule A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated April 24, 2017, attached hereto.
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This Amendment may be executed in two or more counterparts, which together shall constitute one document.
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In Witness Whereof, the Parties have caused this Amendment to be executed, effective as of April 24, 2017.
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Xxxxxxx National Asset Management, LLC
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By:
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/s/ Xxxxxxx X. Xxxxxx
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By:
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/s/ Xxxx X. Xxxxx
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Name:
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Xxxxxxx X. Xxxxxx
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Name:
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Xxxx X. Xxxxx
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Title:
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Assistant Secretary
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Title:
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President and CEO
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Schedule A
Dated April 24, 2017
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Fund
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Fee Waiver 1
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JNL/DFA U.S. Core Equity Fund
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Over .50% on all assets
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JNL/Xxxxxxx Xxxxx Core Plus Bond Fund
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0.025% on Assets in the range of $0 - $500 million
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JNL/Xxxxxxx Sachs Emerging Markets Debt Fund
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0.025% on Assets in the range of $400 million - $1 billion
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JNL/Invesco Small Cap Growth Fund
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0.05% on assets in the range of $0 - $250 million
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JNL/MFS Mid Cap Value Fund
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0.025% on assets greater than $500 million
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JNL/Mellon Capital S&P 500 Index Fund
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0.01% on all assets
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JNL/Xxxxxxxxxxx Global Growth Fund
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0.05% on Assets in the range of $0 - $300 million
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JNL/X. Xxxx Price Value Fund
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.05% on assets from $150-500 million (from 0.65% to 0.60%)
as long as the assets for this fund are above $1 billion
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1 These waivers shall have an initial term expiring one year from the date of this Agreement for each Fund (the “Initial Term”). The Adviser may extend this Agreement for each Fund before the expiration of the Initial Term, which extension shall automatically be effective for a term ending April 30th of the following year, and thereafter this Agreement shall automatically renew upon the end of the then current term for a new one-year term with respect to each Fund unless the Adviser provides written notice of the termination of this Agreement to the Board of Trustees within 30 days prior to the end of the then current term for that Fund.
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