AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
XXXXXXX SACHS ASSET MANAGEMENT, L.P.
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET
MANAGEMENT, LLC, a Michigan limited liability company and registered investment
adviser ("Adviser"), and XXXXXXX SACHS ASSET MANAGEMENT, L.P., a limited
partnership organized under the laws of the state of Delaware 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 (as amended, the "Agreement"),
whereby Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to 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
WHEREAS, in order to effectuate a fee reduction for the JNL/Xxxxxxx
Xxxxx Core Plus 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 July 1, 2008, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 1st day of July, 2008.
XXXXXXX NATIONAL ASSET XXXXXXX XXXXX ASSET
MANAGEMENT, LLC MANAGEMENT, L.P.
By: ____________________________ By: ____________________________
Name: XXXX X. XXXXX Name: XXXXX X. XXXXXXXXX
Title: PRESIDENT Title: MANAGING DIRECTOR
SCHEDULE B
DATED JULY 1, 2008
(Compensation)
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JNL/XXXXXXX SACHS CORE PLUS BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $500 Million .25%
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$500 Million to $1 Billion .17%
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Amounts over $1 Billion .15%
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JNL/XXXXXXX XXXXX MID CAP VALUE FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 Million .50%
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Amounts over $100 Million .45%
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JNL/XXXXXXX SACHS SHORT DURATION BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 to $100 Million .20%
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$100 to $250 Million .17%
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$250 to $500 Million .15%
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Amounts over $500 Million .12%
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