EX-99.77Q1 OTHR EXHB 13 ex77q1d.txt JNL SERIES TRUST AMENDMENT TO INVESTMENT SUBADVISORY 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, the Adviser has replaced the Sub-Adviser with T. Rowe Price Associates, Inc. to provide certain sub-investment advisory services to the JNL/Goldman Sachs Short Duration Bond ("Fund"); and WHEREAS, in order to reflect the above-referenced replacement, Schedule A and Schedule B must be amended to remove the Fund from the Agreement. 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 GOLDMAN SACHS ASSET MANAGEMENT, LLC MANAGEMENT, L.P. By: /s/ Mark D. Nerud By: /s/ Scott Kilgallen Name: MARK D. NERUD Name: Scott Kilgallen Title: PRESIDENT Title: Managing Director SCHEDULE A DATED SEPTEMBER 28, 2009 (Funds) ------------------------------------------------------------------------------- JNL/Goldman Sachs Core Plus Bond Fund ------------------------------------------------------------------------------- JNL/Goldman Sachs Emerging Markets Debt Fund ------------------------------------------------------------------------------- JNL/Goldman Sachs Mid Cap Value Fund ------------------------------------------------------------------------------- SCHEDULE B DATED SEPTEMBER 28, 2009 (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 EMERGING MARKETS DEBT FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $200 Million .50% ------------------------------------------------------- -------------------- Amounts over $200 Million .45% ------------------------------------------------------- -------------------- ---------------------------------------------------------------------------- JNL/GOLDMAN SACHS MID CAP VALUE FUND ---------------------------------------------------------------------------- ------------------------------------------------------- -------------------- AVERAGE DAILY NET ASSETS ANNUAL RATE ------------------------------------------------------- -------------------- ------------------------------------------------------- -------------------- $0 to $100 Million .50% ------------------------------------------------------- -------------------- Amounts over $100 Million .45% ------------------------------------------------------- --------------------