EX-99.23(d)(70)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
XXXXXX INVESTMENT MANAGEMENT, INC.
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and XXXXXX INVESTMENT MANAGEMENT, INC., 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 January 31, 2001 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to the investment portfolios of the JNL Series Trust; and
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; and
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to amend the Agreement as follows:
1. Schedule B to the Agreement is hereby deleted and replaced in its
entirety with Schedule B dated May 1, 2004, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 1st day of May, 2004.
XXXXXXX NATIONAL ASSET XXXXXX INVESTMENT
MANAGEMENT, LLC MANAGEMENT, INC.
By: /S/ XXXXXX X. XXXXXXX By: /S/ XXXXX X XXXXXXXX
---------------------------- ---------------------------------
Name: XXXXXX X. XXXXXXX Name: XXXXX X XXXXXXXX
-------------------- -------------------------------
Title: PRESIDENT Title: SVP, COMPLIANCE OFFICER
----------------------- ------------------------------
SCHEDULE B
DATED MAY 1, 2004
(Compensation)
JNL/XXXXXX EQUITY FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $150 million 0.475%
$150 to $300 million 0.40%
Over $300 million 0.325%
JNL/XXXXXX INTERNATIONAL EQUITY FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $150 million 0.55%
$150 to $300 million 0.50%
Over $300 million 0.45%
JNL/XXXXXX XXXXXX GROWTH FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $250 million 0.50%
Over $250 million 0.45%
JNL/XXXXXX VALUE EQUITY FUND
AVERAGE DAILY NET ASSETS ANNUAL RATE
$0 to $150 million 0.475%
$150 to $300 million 0.40%
Over $300 million 0.325%