AMENDMENT TO
AMENDED AND RESTATED 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 Adviser and the Trust entered into an Amended and Restated
Investment Advisory and Management Agreement effective December 1, 2012
("Agreement"), whereby the Adviser agreed to provide certain advisory services
to several separate series of shares (each a "Fund") of the Trust.
WHEREAS, the Adviser and the Trust agree to amend the advisory fees as
forth on Schedule B to the Agreement to reflect a fee reduction for the
following fund:
JNL/Mellon Capital Management S&P 500 Index Fund.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to amend the Agreement as follows effective as of
January 1, 2013:
1. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with the amended Schedule B dated January 1, 2013, attached
hereto.
IN WITNESS WHEREOF, the Adviser and the Trust have caused this Amendment
to be executed as of the 30th day of November, 2012, effective as of
January 1, 2013.
JNL SERIES TRUST XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxx X. Xxxxx
--------------------- -----------------
Name: Xxxxxxx X. Xxxxxx Name: Xxxx X. Xxxxx
Title: Assistant Secretary Title: President and CEO
SCHEDULE B
DATED JANUARY 1, 2013
(Compensation)
------------------------------------------------------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
(ANNUAL RATE BASED ON AVERAGE
NET ASSETS OF EACH FUND)
------------------------------------------------------------------------------------------------------------------------------
JNL/American Funds Balanced Allocation Fund $0 to $1 billion .300%
Over $1 billion .275%
------------------------------------------------------------------------------------------------------------------------------
JNL/American Funds Blue Chip Income and Growth Fund $0 to $1 billion .70%
Over $1 billion .65%
------------------------------------------------------------------------------------------------------------------------------
JNL/American Funds Global Bond Fund $0 to $1 billion .70%
Over $1 billion .65%
------------------------------------------------------------------------------------------------------------------------------
JNL/American Funds Global Small Capitalization Fund $0 to $1 billion .75%
Over $1 billion .70%
------------------------------------------------------------------------------------------------------------------------------
JNL/American Funds Growth Allocation Fund $0 to $1 billion .300%
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 billion .90%
Over $1 billion .85%
------------------------------------------------------------------------------------------------------------------------------
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 Fund $0 to $1 billion .80%
Over $1 billion .75%
------------------------------------------------------------------------------------------------------------------------------
JNL/Capital Guardian Global Diversified Research Fund $0 to $150 million .75%
$150 million to $500 million .70%
$500 million to $750 million .65%
Over $750 million .60%
------------------------------------------------------------------------------------------------------------------------------
JNL/Capital Guardian Global Balanced Fund $0 to $500 million .65%
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 $500 million .70%
Over $500 million .65%
------------------------------------------------------------------------------------------------------------------------------
JNL/Eastspring Investments Asia ex-Japan Fund $0 to $500 million .90%
Over $500 million .85%
------------------------------------------------------------------------------------------------------------------------------
JNL/Eastspring Investments China-India Fund $0 to $500 million .90%
Over $500 million .85%
------------------------------------------------------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Founding Strategy Fund All Assets 0%
------------------------------------------------------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Global Growth Fund $0 to $300 million .75%
$300 million to $500 million .65%
Over $500 million .60%
------------------------------------------------------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Global Multisector Bond Fund $0 to $1 billion .75%
Over $1 billion .70%
------------------------------------------------------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Income Fund $0 to $100 million .80%
$100 million to $200 million .75%
$200 million to $500 million .65%
Over $500 million .60%
------------------------------------------------------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx International Small Cap Growth Fund $0 to $500 million .95%
Over $500 million .90%
------------------------------------------------------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Mutual Shares Fund $0 to $500 million .75%
Over $500 million .70%
------------------------------------------------------------------------------------------------------------------------------
JNL/Franklin Xxxxxxxxx Small Cap Value Fund $0 to $200 million .85%
$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 Fund $0 to $200 million .75%
$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%
------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
B-2
------------------------------------------------------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
(ANNUAL RATE BASED ON AVERAGE
NET ASSETS OF EACH FUND)
------------------------------------------------------------------------------------------------------------------------------
JNL Institutional Alt 50 Fund $0 to $500 million .15%
Over $500 million .10%
------------------------------------------------------------------------------------------------------------------------------
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 Bond Fund $0 to $150 million .50%
$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 million .90%
Over $250 million .85%
------------------------------------------------------------------------------------------------------------------------------
JNL/Lazard Mid Cap Equity Fund $0 to $50 million .75%
$50 million to $250 million .70%
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 Markets Index Fund $0 to $500 million .40%
Over $500 million .35%
------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
B-3
------------------------------------------------------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
(ANNUAL RATE BASED ON AVERAGE
NET ASSETS OF EACH FUND)
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management Bond Index Fund $0 to $500 million .30%
$500 million to $750 million .25%
Over $750 million .24%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management Dow Xxxxx U.S. Contrarian $0 to $1 billion .325%
Opportunities Index Fund Over $1 billion .300%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management Global Alpha Fund $0 to $500 million 1.00%
Over $500 million .90%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management European 30 Fund $0 to $50 million .37%
$50 to $100 million .31%
Over $100 million .28%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management Index 5 Fund All assets 0%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management International Index Fund $0 to $500 million .30%
$500 million to $750 million .25%
Over $750 million .24%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management Pacific Rim 30 Fund $0 to $50 million .37%
$50 to $100 million .31%
Over $100 million .28%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management Small Cap Index Fund $0 to $500 million .29%
$500 million to $750 million .24%
Over $750 million .23%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management 10 x 10 Fund All assets 0%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 500 Index Fund $0 to $500 million .28%
$500 million to $750 million .24%
Over $750 million .23%
------------------------------------------------------------------------------------------------------------------------------
JNL/Mellon Capital Management S&P 400 MidCap Index Fund $0 to $500 million .29%
$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 Fund $0 to $1 billion .60%
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 Fund $0 to $500 million .65%
Over $500 million .60%
------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
B-4
------------------------------------------------------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
(ANNUAL RATE BASED ON AVERAGE
NET ASSETS OF EACH FUND)
------------------------------------------------------------------------------------------------------------------------------
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%
------------------------------------------------------------------------------------------------------------------------------
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 Fund $0 to $150 million .65%
$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%
------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
B-5
------------------------------------------------------------------------------------------------------------------------------
FUND ASSETS ADVISORY FEE
(ANNUAL RATE BASED ON AVERAGE
NET ASSETS OF EACH FUND)
------------------------------------------------------------------------------------------------------------------------------
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%
------------------------------------------------------------------------------------------------------------------------------
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
