AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN JACKSON NATIONAL ASSET MANAGEMENT, LLC AND MELLON CAPITAL MANAGEMENT CORPORATION
EX-99.23(d)19)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
MELLON CAPITAL MANAGEMENT CORPORATION
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT, LLC, a Michigan limited liability company and registered investment adviser (“Adviser”), and MELLON CAPITAL MANAGEMENT CORPORATION, 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 February 18, 2004 (“Agreement”), whereby Adviser appointed Sub-Adviser to provide certain sub-investment advisory services to the JNL Variable Fund LLC and JNLNY Variable Fund I LLC (the "Funds");
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;
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WHEREAS, in order to reflect the addition of two new funds; |
WHEREAS, to reflect the merger of two funds of JNLNY Variable Fund I LLC into one fund of the JNL Variable Fund LLC; and
WHEREAS, to reflect the addition of a breakpoint to the sub-advisory fee schedule.
NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties hereby agree to amend the Agreement as follows:
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1. |
Schedule A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated May 1, 2006, attached hereto. |
|
2. |
Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated May 1, 2006, attached hereto. |
The parties hereto agree that unless specifically changed pursuant to this Amendment, all terms and conditions of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this Amendment to be executed as of this 1st day of May, 2006.
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XXXXXXX NATIONAL ASSET |
MELLON CAPITAL MANAGEMENT | ||
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MANAGEMENT, LLC |
CORPORATION |
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By: |
By: |
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Name: |
Xxxxxx X. Xxxxxxx |
Name: | |||
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Title: |
President |
Title: |
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SCHEDULE A
Dated: May 1, 2006
(Funds)
JNL VARIABLE FUND LLC
JNL/Mellon Capital Management DowSM 10 Fund
JNL/Mellon Capital Management S&P® 10 Fund
JNL/Mellon Capital Management Global 15 Fund
JNL/Mellon Capital Management 25 Fund
JNL/Mellon Capital Management Select Small-Cap Fund
JNL/Mellon Capital Management Nasdaq® 15 Fund
JNL/Mellon Capital Management Value Line® 25 Fund
JNL/Mellon Capital Management DowSM Dividend Fund
JNL/Mellon Capital Management S&P® 24 Fund
JNL/Mellon Capital Management VIP Fund
JNL/Mellon Capital Management JNL 5 Fund
JNL/Mellon Capital Management JNL Optimized 5 Fund
JNL/Mellon Capital Management Communications Sector Fund
JNL/Mellon Capital Management Consumer Brands Sector Fund
JNL/Mellon Capital Management Financial Sector Fund
JNL/Mellon Capital Management Healthcare Sector Fund
JNL/Mellon Capital Management Oil & Gas Sector Fund
JNL/Mellon Capital Management Technology Sector Fund
JNL/Mellon Capital Management DowSM 10 Fund
JNL/Mellon Capital Management S&P® 10 Fund
JNL/Mellon Capital Management Global 15 Fund
JNL/Mellon Capital Management Nasdaq® 15 Fund
JNL/Mellon Capital Management Value Line® 25 Fund
JNL/Mellon Capital Management DowSM Dividend Fund
JNL/Mellon Capital Management S&P® 24 Fund
SCHEDULE B
Dated: May 1, 2006
(Compensation)
JNL VARIABLE FUND LLC
JNL/Mellon Capital Management DowSM 10 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management S&P® 10 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Global 15 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management 25 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Select Small Cap Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Nasdaq® 15 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management DowSM Dividend Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Value Line® 25 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management S&P® 24 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management VIP Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management JNL 5 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management JNL Optimized 5 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Communications Sector Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Consumer Brands Sector Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Financial Sector Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Healthcare Sector Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Oil & Gas Sector Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Technology Sector Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management DowSM 10 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management S&P® 10 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Global 15 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Nasdaq® 15 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management Value Line® 25 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management DowSM Dividend Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
JNL/Mellon Capital Management S&P® 24 Fund
|
Assets |
Annual Rate |
|
First $50 million |
0.12% |
|
Next $50 million |
0.06% |
|
$100 to $750 million |
0.03% |
|
Over $750 million |
0.015% |
