1
EX-99.B5-ppmasaa
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, INC.
AND
PPM AMERICA, INC.
AMENDMENT effective as of May 1, 1997, by and between XXXXXXX NATIONAL
FINANCIAL SERVICES, INC., a Delaware corporation and registered investment
adviser ("Adviser"), and PPM AMERICA, INC., a Delaware corporation and
registered investment adviser ("Sub-Adviser").
WHEREAS, Adviser and Sub-Adviser entered into an Investment Sub-Advisory
Agreement executed as of February 17, 1995 ("Agreement"), whereby Adviser
appointed Sub-Adviser to provide certain sub-investment advisory services to
the investment portfolios of the JNL Series Trust; and
WHEREAS, the Agreement provides that the Adviser will pay the Sub-Adviser
for the services provided and the expenses assumed pursuant to the Agreement a
sub-advisory fee as set forth on Schedule B to the Agreement and the
Sub-Adviser agrees to accept such sub-advisory fee as full compensation for
such services and expenses; and
WHEREAS, effective May 1, 1997, the Adviser desires to appoint Sub-Adviser
to provide and Sub-Adviser agrees to provide sub-investment advisory services
to an additional investment portfolio of the JNL Series Trust and to terminate
the Sub-Adviser's services with respect to an existing investment portfolio of
the JNL Series Trust.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to amend the Agreement as follows:
1. Schedule A to the Agreement shall be amended and replaced with
Schedule A dated May 1, 1997, attached hereto.
2. Schedule B to the Agreement shall be amended and replaced with
Schedule B dated May 1, 1997, attached hereto.
2
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this day of , 1997.
XXXXXXX NATIONAL FINANCIAL PPM AMERICA, INC.
SERVICES, INC.
By: By:
--------------------------- -------------------------
Name: Xxxx X. Xxxxxxx Name:
------------------------ -----------------------
Title: President Title:
----------------------- ----------------------
3
SCHEDULE A
DATED MAY 1, 1997
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, INC.
AND
PPM AMERICA, INC.
PPM America/JNL Balanced Series
PPM America/JNL High Yield Bond Series
PPM America/JNL Money Market Series
4
SCHEDULE B
DATED MAY 1, 1997
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL FINANCIAL SERVICES, INC.
AND
PPM AMERICA, INC.
PPM America/JNL Balanced Series
Average Daily Net Assets Annual Rate
---------------------------- -------------
$0 to $50 Million .25%
$50 Million to $150 Million .20%
$150 Million to $300 Million .175%
$300 Million to $500 Million .15%
Amounts over $500 Million .125%
PPM America/JNL High Yield Bond Series
Average Daily Net Assets Annual Rate
---------------------------- -------------
$0 to $50 Million .25%
$50 Million to $150 Million .20%
$150 Million to $300 Million .175%
$300 Million to $500 Million .15%
Amounts over $500 Million .125%
PPM America/JNL Money Market Series
Average Daily Net Assets Annual Rate
---------------------------- -------------
$0 to $50 Million .20%
$50 Million to $150 Million .15%
$150 Million to $300 Million .125%
$300 Million to $500 Million .10%
Amounts over $500 Million .075%
