EX-99.23(d)(167)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
X.X. 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 X.X. 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 May 2, 2005 ("Agreement"), whereby Adviser
appointed Sub-Adviser to provide certain sub-investment advisory services to the
investment portfolios of the JNL Series Trust.
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.
WHEREAS, in order to effectuate a fee reduction for the JNL/JPMorgan U.S.
Government & Quality Bond Fund, Schedule B must be amended.
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 June 15, 2009, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 15th day of June, 2009.
XXXXXXX NATIONAL ASSET X.X. XXXXXX INVESTMENT
MANAGEMENT, LLC MANAGEMENT INC.
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxx Xxxxxx
Name: XXXX X. XXXXX Name: Xxxxx Xxxxxx
Title: PRESIDENT Title: Vice President
SCHEDULE B
JUNE 15, 2009
(Compensation)
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JNL/JPMORGAN INTERNATIONAL VALUE FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $350 Million 0.40%
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Amounts over $350 Million 0.35%
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JNL/JPMORGAN MIDCAP GROWTH FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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All Assets 0.40%
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JNL/JPMORGAN U.S. GOVERNMENT & QUALITY BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $200 Million 0.17%**
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$200 Million to $500 Million 0.15%
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Amounts over $500 Million 0.12%
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** When net assets drop below $500 million, the annual rate will be 0.20% for
net assets between $0 to $200 million.