EX-99.D 7 exd171_subppm09282009.txt EX-99.D.171. SUB-ADVISORY AMENDMENT PPM 09-28-2009 EX-99.23(d)(171) AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN JACKSON NATIONAL ASSET MANAGEMENT, LLC AND PPM AMERICA, INC. This AMENDMENT is made by and between JACKSON NATIONAL ASSET MANAGEMENT, LLC, a Michigan limited liability company and registered investment adviser ("Adviser"), and PPM AMERICA, 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 January 16, 2007 ("Agreement"), whereby Adviser appointed Sub-Adviser to provide certain sub-investment advisory services to certain investment portfolios of the JNL Series Trust ("Trust"). WHEREAS, the parties wish to amend the Agreement in order to remove the following fund: the JNL/PPM America Core Equity Fund, which is being merged into the JNL/Mellon Capital Management S&P 500 Index Fund of the Trust. WHEREAS, in order to reflect the above-referenced Fund merger, Schedule A and Schedule B to the Agreement must be amended to remove the merged fund. NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties hereby agree to amend the Agreement as follows: 1. Schedule A to the Agreement is hereby deleted and replaced in its entirety with Schedule A dated September 28, 2009, attached hereto. 2. Schedule B to the Agreement is hereby deleted and replaced in its entirety with Schedule B dated September 28, 2009, attached hereto. IN WITNESS WHEREOF, the Adviser and the Sub-Adviser have caused this Amendment to be executed as of this 28th day of September, 2009. JACKSON NATIONAL ASSET PPM AMERICA, INC. MANAGEMENT, LLC By: /s/ Mark D. Nerud By: /s/ Mark B. Mandich Name: MARK D. NERUD Name: Mark B. Mandich Title: PRESIDENT Title: COO, CCO, and Treasurer SCHEDULE A SEPTEMBER 28, 2009 (Funds) ---------------------------------------------------------------------------- JNL/PPM America High Yield Bond Fund ---------------------------------------------------------------------------- JNL/PPM America Mid Cap Value Fund ---------------------------------------------------------------------------- JNL/PPM America Small Cap Value Fund ---------------------------------------------------------------------------- JNL/PPM America Value Equity Fund ---------------------------------------------------------------------------- SCHEDULE B SEPTEMBER 28, 2009 (Compensation) ---------------------------------------------------------------------------- JNL/PPM AMERICA HIGH YIELD BOND FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $150 Million 0.20% ------------------------------------------------------- -------------------- $150 Million to $300 Million 0.175% ------------------------------------------------------- -------------------- Amounts over $300 Million 0.15% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/PPM AMERICA MID CAP VALUE FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $150 Million 0.25% ------------------------------------------------------- -------------------- $150 Million to $300 Million 0.20% ------------------------------------------------------- -------------------- Amounts over $300 Million 0.17% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/PPM AMERICA SMALL CAP VALUE FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $150 Million 0.25% ------------------------------------------------------- -------------------- $150 Million to $300 Million 0.20% ------------------------------------------------------- -------------------- Amounts over $300 Million 0.17% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/PPM AMERICA VALUE EQUITY FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $150 Million 0.25% ------------------------------------------------------- -------------------- $150 Million to $300 Million 0.20% ------------------------------------------------------- -------------------- Amounts over $300 Million 0.17% ------------------------------------------------------- --------------------