EX-99.D 13 exd177_subpimco10012009.txt EX-99.D.177. SUB-ADVISORY AMENDMENT PIMCO 10-01-2009 EX-99.23(d)(177) AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN JACKSON NATIONAL ASSET MANAGEMENT, LLC AND PACIFIC INVESTMENT MANAGEMENT COMPANY LLC This AMENDMENT is made by and between JACKSON 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. JACKSON NATIONAL ASSET PACIFIC INVESTMENT MANAGEMENT, LLC MANAGEMENT COMPANY LLC By: /s/ Mark D. Nerud By: /s/ Brent L. Holden Name: MARK D. NERUD Name: Brent L. Holden Title: PRESIDENT Title: Managing Director SCHEDULE B DATED OCTOBER 1, 2009 (Compensation) ---------------------------------------------------------------------------- JNL/PIMCO REAL RETURN FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 - $1 billion: .25% ------------------------------------------------------- -------------------- Amounts over $1 billion: .20% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/PIMCO TOTAL RETURN BOND FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- Amounts over $0: .25%* ------------------------------------------------------- -------------------- * 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. ---------------------------------------------------------------------------- JNL/PIMCO TOTAL RETURN BOND FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 - $1 billion: .25% ------------------------------------------------------- -------------------- Amounts over $1 billion: .225%** ------------------------------------------------------- -------------------- ** 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.