EX-99.77Q1 OTHR EXHB 11 ex77q1g.txt JNL SERIES TRUST AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN JACKSON NATIONAL ASSET MANAGEMENT, LLC AND GOLDMAN SACHS ASSET MANAGEMENT, L.P. This AMENDMENT is made by and between JACKSON NATIONAL ASSET MANAGEMENT, LLC, a Michigan limited liability company and registered investment adviser ("Adviser"), and GOLDMAN 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/Goldman Sachs 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. JACKSON NATIONAL ASSET GOLDMAN SACHS ASSET MANAGEMENT, LLC MANAGEMENT, L.P. By: ____________________________ By: ____________________________ Name: MARK D. NERUD Name: SCOTT E. KILGALLEN Title: PRESIDENT Title: MANAGING DIRECTOR SCHEDULE B DATED JULY 1, 2008 (Compensation) ---------------------------------------------------------------------------- JNL/GOLDMAN SACHS CORE PLUS BOND FUND ---------------------------------------------------------------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- $0 to $500 Million .25% ------------------------------------------------------- -------------------- $500 Million to $1 Billion .17% ------------------------------------------------------- -------------------- Amounts over $1 Billion .15% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/GOLDMAN SACHS MID CAP VALUE FUND ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $100 Million .50% ------------------------------------------------------- -------------------- Amounts over $100 Million .45% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/GOLDMAN SACHS SHORT DURATION BOND FUND ---------------------------------------------------------------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- $0 to $100 Million .20% ------------------------------------------------------- -------------------- $100 to $250 Million .17% ------------------------------------------------------- -------------------- $250 to $500 Million .15% ------------------------------------------------------- -------------------- Amounts over $500 Million .12% ------------------------------------------------------- --------------------