EX-99.D 3 exd167_subjpm06152009.txt EX-99.D.167. SUB-ADVISORY AMENDMENT JPM 06-15-2009 EX-99.23(d)(167) AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN JACKSON NATIONAL ASSET MANAGEMENT, LLC AND J.P. MORGAN INVESTMENT MANAGEMENT INC. This AMENDMENT is made by and between JACKSON NATIONAL ASSET MANAGEMENT, LLC, a Michigan limited liability company and registered investment adviser ("Adviser"), and J.P. MORGAN INVESTMENT MANAGEMENT INC., a Delaware corporation 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 ("Agreement"), whereby Adviser appointed Sub-Adviser to provide certain sub-investment advisory services to the 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-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, in order to effectuate a fee reduction for the JNL/JPMorgan U.S. Government & Quality 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 June 15, 2009, attached hereto. IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this Amendment to be executed as of this 15th day of June, 2009. JACKSON NATIONAL ASSET J.P. MORGAN INVESTMENT MANAGEMENT, LLC MANAGEMENT INC. By: /s/ Mark D. Nerud By: /s/ Scott Moritz Name: MARK D. NERUD Name: Scott Moritz Title: PRESIDENT Title: Vice President SCHEDULE B JUNE 15, 2009 (Compensation) ---------------------------------------------------------------------------- JNL/JPMORGAN INTERNATIONAL VALUE FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $350 Million 0.40% ------------------------------------------------------- -------------------- Amounts over $350 Million 0.35% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/JPMORGAN MIDCAP GROWTH FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- All Assets 0.40% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/JPMORGAN U.S. GOVERNMENT & QUALITY BOND FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $200 Million 0.17%** ------------------------------------------------------- -------------------- $200 Million to $500 Million 0.15% ------------------------------------------------------- -------------------- Amounts over $500 Million 0.12% ------------------------------------------------------- -------------------- ** When net assets drop below $500 million, the annual rate will be 0.20% for net assets between $0 to $200 million.