EX-99.23(d)(177)
AMENDMENT
TO
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX NATIONAL ASSET MANAGEMENT, LLC
AND
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
This AMENDMENT is made by and between XXXXXXX NATIONAL ASSET MANAGEMENT,
LLC, a Michigan limited liability company and registered investment adviser
("Adviser"), and PACIFIC INVESTMENT MANAGEMENT COMPANY LLC, a Delaware limited
liability company and registered investment adviser ("Sub-Adviser").
WHEREAS, the Adviser and Sub-Adviser entered into an Investment
Sub-Advisory Agreement dated as of January 31, 2001 ("Agreement"), whereby
Adviser appointed Sub-Adviser to provide certain sub-investment advisory
services to certain 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-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, in order to effectuate a fee reduction for the JNL/PIMCO Total
Return 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 October 1, 2009, attached hereto.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereby agree to add Section 21 to the Agreement as follows:
21. SERVICES OF THE SUB-ADVISER. Notwithstanding any other provision to
the contrary, the Sub-Adviser shall have no obligation to perform the
following services or to have employees of the Sub-Adviser perform the
following roles, as applicable: (a) shareholder services or support
functions such as responding to shareholders' questions about the Fund
or its investments or strategies; (b) providing employees of the
Sub-Adviser to serve as officers of the Trust; or (c) providing
employees of the Sub-Adviser to serve as the Trust's Chief Compliance
Officer and associated staff.
IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this
Amendment to be executed as of this 1st day of October, 2009.
XXXXXXX NATIONAL ASSET PACIFIC INVESTMENT
MANAGEMENT, LLC MANAGEMENT COMPANY LLC
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxx X. Xxxxxx
Name: XXXX X. XXXXX Name: Xxxxx X. Xxxxxx
Title: PRESIDENT Title: Managing Director
SCHEDULE B
DATED OCTOBER 1, 2009
(Compensation)
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JNL/PIMCO REAL RETURN FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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$0 - $1 billion: .25%
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Amounts over $1 billion: .20%
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JNL/PIMCO TOTAL RETURN BOND FUND
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AVERAGE DAILY NET ASSETS ANNUAL RATE
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Amounts over $0: .25%*
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* When aggregate net assets of JNL/PIMCO Real Return Fund
and JNL/PIMCO Total Return Bond Fund fall below $3 billion,
the annual rate asterisked is applicable to all the amounts
in the JNL/PIMCO Total Return Bond Fund.
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JNL/PIMCO TOTAL RETURN BOND FUND
----------------------------------------------------------------------------
------------------------------------------------------- --------------------
AVERAGE DAILY NET ASSETS ANNUAL RATE
------------------------------------------------------- --------------------
------------------------------------------------------- --------------------
$0 - $1 billion: .25%
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Amounts over $1 billion: .225%**
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** When aggregate net assets of JNL/PIMCO Real Return Fund
and JNL/PIMCO Total Return Bond Fund equal or exceed $3
billion, the annual rate asterisked is applicable to amounts
over $1 billion in the JNL/PIMCO Total Return Bond Fund.