Amendment to Sub-Advisory Agreement Between Jackson National Asset Management, LLC and Neuberger Berman Investment Advisers LLC
Ex. 99.28(d)(37)(x)
Amendment
to Sub-Advisory Agreement Between
Xxxxxxx National Asset Management, LLC and
Xxxxxxxxx Xxxxxx Investment Advisers LLC
This Amendment is made by and between Xxxxxxx National Asset Management, LLC, a Michigan limited liability company and registered investment adviser (the “Adviser”), and Xxxxxxxxx Xxxxxx Investment Advisers LLC, a Delaware limited liability company and registered investment adviser (the “Sub-Adviser”).
Whereas, the Adviser and the Sub-Adviser (the “Parties”) entered into a Sub-Advisory Agreement effective as of the 13th day of September, 2021 wherein the December 1, 2012 Agreement, as amended, was incorporated by reference (the “Agreement”), whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment advisory services to certain investment portfolios (each, a “Fund”) of the JNL Series Trust (the “Trust”), as listed on Schedule A to the Agreement.
Whereas, pursuant to the Agreement, the Adviser agreed to pay sub-advisory fees as set forth on Schedule B to the Agreement to the Sub-Adviser for the services provided and the expenses assumed by the Sub-Adviser, and the Sub-Adviser agreed to accept such sub-advisory fees as full compensation under the Agreement for such services and expenses.
Whereas, the Board of Trustees of the Trust approved the JNL/Xxxxxxxxx Xxxxxx Gold Plus Strategy Fund as a new Fund of the Trust and approved the Sub-Adviser to provide sub-investment advisory services to the JNL/Xxxxxxxxx Xxxxxx Gold Plus Strategy Fund, each effective April 25, 2022.
Whereas, the Parties have agreed to amend the Agreement to add the JNL/Xxxxxxxxx Xxxxxx Gold Plus Strategy Fund and its corresponding fees, effective April 25, 2022.
Whereas, the Parties have agreed to amend the following section of the Agreement, effective April 25, 2022:
Section 16. “Notice.”
Now Therefore, in consideration of the mutual covenants herein contained, the Parties hereby agree to amend the Agreement as follows:
| 1. | Section “16. Notice.” shall be deleted and replaced, in its entirety, with the following: |
| 16. | Notice. All notices required to be given pursuant to this Agreement shall be delivered or mailed to the address listed below of each applicable party in person or by registered or certified mail or a private mail or delivery service providing the sender with notice of receipt or sent by electronic transmission (via e-mail) or such other address as specified in a notice duly given to the other parties. Notice shall be deemed given on the date delivered or mailed in accordance with this paragraph. |
| a) | To Adviser: | Xxxxxxx National Asset Management, LLC | |
| 000 Xxxx Xxxxxx Xxxxx | |||
| Xxxxx 0000 | |||
| Xxxxxxx, XX 00000 | |||
| Attention: General Counsel | |||
| Email address: XXXXXxxxx@xxxxxxx.xxx | |||
| b) | To the Sub-Adviser: | Xxxxxxxxx Xxxxxx Investment Advisers LLC. | |
| Attention: Client Services | |||
| 000 Xxxxx XxXxxxx Xxxxxx, Xxxxx 0000 | |||
| Xxxxxxx, XX 00000 | |||
| Email address: | |||
| XXXXXxxxxxxxxx@xx.xxx |
Page 1 of 2
| 2. | Schedule A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated April 25, 2022, attached hereto. |
| 3. | Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated April 25, 2022, attached hereto. |
| 4. | Except as specifically amended hereby, the Agreement shall remain in full force and effect in accordance with its terms. |
| 5. | Each of the Parties represents and warrants to the others that it has full authority to enter into this Amendment upon the terms and conditions hereof and that the individual executing this Amendment is duly authorized to bind the respective party to this Amendment. |
| 6. | This Amendment may be executed in one or more counterparts, which together shall constitute one document. |
In Witness Whereof, the Parties have caused this Amendment to be executed, effective as of April 25, 2022.
| Xxxxxxx National Asset Management, LLC | Xxxxxxxxx Xxxxxx Investment Advisers LLC | |||
| By: | /s/ Xxxxx X. Xxxxxxx | By: | /s/ Xxxxxx X. Xxxxx | |
| Name: | Xxxxx X. Xxxxxxx | Name: | Xxxxxx X. Xxxxx | |
| Title: | AVP and Deputy General Counsel | Title: | Managing Director | |
Page 2 of 2
Schedule A
Dated April 25, 2022
|
Funds
|
|
|
JNL/Xxxxxxxxx Xxxxxx Commodity Strategy Fund
|
|
| JNL/Xxxxxxxxx Xxxxxx Gold Plus Strategy Fund | |
|
JNL/Xxxxxxxxx Xxxxxx Strategic Income Fund
|
|
A-1
Schedule B
Dated April 25, 2022
(Compensation)
|
JNL/Xxxxxxxxx Xxxxxx Commodity Strategy Fund
|
|
|
Average Daily Net Assets
|
Annual Rate
|
|
$0 to $400 Million
|
0.29% |
|
Amounts over $400 Million
|
0.20% |
|
JNL/Xxxxxxxxx Xxxxxx Gold Plus Strategy Fund
|
|
|
Average Daily Net Assets
|
Annual Rate
|
|
$0 to $100 Million
|
0.40% |
|
$100 Million to $400 Million
|
0.29% |
| Amounts over $400 Million |
0.20% |
|
JNL/Xxxxxxxxx Xxxxxx Strategic Income Fund
|
|
|
Average Daily Net Assets
|
Annual Rate
|
|
$0 to $200 Million
|
0.20% |
|
$200 Million to $750 Million
|
0.15% |
|
Amounts over $750 Million
|
0.12% |
B-1
