AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
FRANKLIN ADVISERS, INC.
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and FRANKLIN ADVISERS, INC., a California corporation and
registered investment adviser ("Sub-Adviser").
WHEREAS, the Adviser and Sub-Adviser entered into an Investment
Sub-Advisory Agreement dated as of May 1, 2006 ("Agreement"), whereby Adviser
appointed Sub-Adviser to provide sub-investment advisory services to a certain
investment portfolio of the JNL Series Trust ("Trust"), and to other investment
portfolio(s) as agreed to thereafter via Amendment(s) to the Agreement.
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, the Adviser and the Sub-Adviser have agreed to revise the
sub-advisory fees for the JNL/Franklin Xxxxxxxxx Income Fund as set forth on
Schedule B, and, in connection with said revisions, Schedule B to the Agreement
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 September 10, 2012, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this Amendment
to be executed as of September 25, 2012, effective as of September 10, 2012.
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC FRANKLIN ADVISERS, INC.
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxxxxxx
---------------------------------- ---------------------------------------
Name: Xxxx X. Xxxxx Name: Xxxxxx X. Xxxxxxxx
-------------------------------- ------------------
Title: President and CEO Title: President & Chief Investment Officer
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SCHEDULE B
SEPTEMBER 10, 2012
(Compensation)
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JNL/FRANKLIN XXXXXXXXX INCOME FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $50 Million 0.625%
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$50 Million to $200 Million 0.465%
--------------------------------------------------------------------------------
$200 Million to $500 Million 0.375%
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Amounts over $500 Million 0.350%
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JNL/FRANKLIN XXXXXXXXX GLOBAL MULTISECTOR BOND FUND
--------------------------------------------------------------------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
$0 to $100 Million 0.45%
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$100 Million to $250 Million 0.40%
--------------------------------------------------------------------------------
$250 Million to $500 Million 0.38%
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$500 Million to $750 Million 0.37%
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Amounts over $750 Million 0.36%
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B-1