AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and STANDARD & POOR'S INVESTMENT ADVISORY SERVICES LLC, a Delaware
limited liability company and registered investment adviser ("Sub-Adviser").
WHEREAS, the Adviser and the Sub-Adviser entered into an Investment
Sub-Advisory Agreement effective as of the 31st day of January 2001, and Amended
and Restated effective as of the 1st day of December, 2012 ("Agreement"),
whereby the Adviser appointed the Sub-Adviser to provide certain sub-investment
advisory services to certain investment portfolios of JNL Series Trust
("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-Advisor 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 fee reductions for
the funds sub-advised by the Sub-Adviser under the Agreement.
WHEREAS, in order to reflect these fee reductions, 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 January 1, 2013, attached hereto.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of November 30, 2012, effective as of January 1,
2013.
XXXXXXX NATIONAL ASSET STANDARD & POOR'S
MANAGEMENT, LLC INVESTMENT ADVISORY SERVICES LLC
By: /s/ Xxxx X. Xxxxx By: /s/ W. Xxxxxxx Xxxxxxxxxx
----------------------------------- ------------------------------
Name: Xxxx X. Xxxxx Name: W. Xxxxxxx Xxxxxxxxxx
--------------------------------- -----------------------------
Title: President and CEO Title: President, SPIAS
-------------------------------- ----------------------------
Date: November 30, 2012 Date: 11/14/2012
--------------------------------- -----------------------------
SCHEDULE B
JANUARY 1, 2013
(Compensation)
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FUNDS
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Group 1:
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JNL/S&P Managed Growth Fund
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JNL/S&P Managed Conservative Fund
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JNL/S&P Managed Moderate Growth Fund
--------------------------------------------------------------------------------
JNL/S&P Managed Moderate Fund
--------------------------------------------------------------------------------
JNL/S&P Managed Aggressive Growth Fund
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ASSETS ANNUAL RATE
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Effective January 1, 2013:
--------------------------------------------------------------------------------
$0 to $8 Billion 0.02%
Over $8 Billion 0.01%
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THE ASSETS OF THE FUNDS ARE AGGREGATED FOR PURPOSES OF CALCULATING THE
SUB-ADVISORY FEE.
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Group 2:
--------------------------------------------------------------------------------
JNL/S&P Competitive Advantage Fund
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JNL/S&P Dividend Income & Growth Fund
--------------------------------------------------------------------------------
JNL/S&P Intrinsic Value Fund
--------------------------------------------------------------------------------
JNL/S&P Total Yield Fund
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ASSETS ANNUAL RATE
--------------------------------------------------------------------------------
Effective January 1, 2013:
--------------------------------------------------------------------------------
$0 to $1Billion 0.08%
Next $2 Billion 0.07%
Over $3 Billion 0.05%
--------------------------------------------------------------------------------
THE ASSETS OF THE FUNDS ARE AGGREGATED FOR PURPOSES OF CALCULATING THE
SUB-ADVISORY FEE.
B-1
