EX-99.28(D)(1)(XXII) 3 exd1xxii_advagmnt20210426.htm AMENDMENT, EFFECTIVE APRIL 26, 2021, TO AMENDED AND RESTATED INVESTMENT ADVISORY AND MANAGEMENT AGREEMENT

Ex. 99.28(d)(1)(xxii)

Amendment to

Amended and Restated Investment Advisory

and Management Agreement

Between JNL Series Trust and

Jackson National Asset Management, LLC

This Amendment is made by and between JNL Series Trust, a Massachusetts business trust (the “Trust”) and Jackson National Asset Management, LLC, a Michigan limited liability company (the “Adviser”).

Whereas, the Trust and the Adviser (the “Parties”) entered into an Amended and Restated Investment Advisory and Management Agreement, effective as of the 1^st day of July, 2013, as amended (the “Agreement”), whereby the Adviser agreed to provide certain investment advisory services to several separate series of shares (each a “Fund”) of the Trust, as listed on Schedule A of the Agreement.

Whereas, the Board of Trustees of the Trust (the “Board”) has approved (i) three new Funds of the Trust (each, a “New Fund” and collectively, the “New Funds”), (ii) mergers for 19 Funds of the Trust into other Funds of the Trust (each, a “Merged Fund” and collectively, the “Merged Funds”), (iii) fund name changes for eight Funds of the Trust (the “Fund Name Changes”), and (iv) fee changes for six Funds of the Trust (the “Fee Changes”), as outlined below, effective April 26, 2021:

New Funds

JNL/American Funds^® Bond Fund of America Fund;

JNL/Baillie Gifford U.S. Equity Growth Fund; and

JNL/Morningstar PitchBook Listed Private Equity Index Fund.

Merged Funds

JNL/AQR Large Cap Relaxed Constraint Equity Fund;

JNL/AQR Managed Futures Strategy Fund;

JNL/Boston Partners Global Long Short Equity Fund;

JNL/DFA Growth Allocation Fund;

JNL/DFA Moderate Growth Allocation Fund;

JNL/Franklin Templeton International Small Cap Fund;

JNL/Goldman Sachs Competitive Advantage Fund;

JNL/Goldman Sachs Dividend Income & Growth Fund;

JNL/Goldman Sachs International 5 Fund;

10)

JNL/Goldman Sachs Intrinsic Value Fund;

11)

JNL/Goldman Sachs Total Yield Fund;

12)

JNL/Mellon Index 5 Fund;

13)

JNL/PPM America Small Cap Value Fund;

14)

JNL/RAFI^® Fundamental Asia Developed Fund;

15)

JNL/RAFI^® Fundamental Europe Fund;

16)

JNL/Vanguard Capital Growth Fund;

17)

JNL/Vanguard Global Bond Market Index Fund;

18)

JNL/Vanguard International Stock Market Index Fund; and

19)

JNL/Vanguard Small Company Growth Fund.

Fund Name Changes

JNL/American Funds^® Blue Chip Income and Growth Fund change to JNL/American Funds^® Washington Mutual Investors Fund;

JNL/First State Global Infrastructure Fund change to JNL/First Sentier Global Infrastructure Fund;

JNL/Invesco Global Real Estate Fund change to JNL/WMC Global Real Estate Fund (in connection with an investment sub-adviser replacement, as approved by the Board);

JNL/JPMorgan Growth & Income Fund change to JNL/JPMorgan U.S. Value Fund;

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JNL/Mellon MSCI World Index Fund change to JNL/Mellon World Index Fund;

JNL/Vanguard Equity Income Fund change to JNL/WMC Equity Income Fund (in connection with the conversion from a feeder fund to a sub-advised fund, as approved by the Board);

JNL/Vanguard International Fund change to JNL/Baillie Gifford International Growth Fund (in connection with the conversion from a feeder fund to a sub-advised fund, as approved by the Board); and

JNL/Vanguard U.S. Stock Market Index Fund change to JNL/Mellon U.S. Stock Market Index Fund (in connection with the conversion from a Fund of Funds to a sub-advised index fund, as approved by the Board).

Fee Changes

JNL Multi-Manager Alternative Fund;

JNL/Baillie Gifford International Growth Fund;

JNL/Goldman Sachs 4 Fund;

JNL/Mellon U.S. Stock Market Index Fund;

JNL/WMC Equity Income Fund; and

JNL/WMC Global Real Estate Fund.

Whereas, pursuant to Board approval of the changes, as outlined above, the Parties have agreed to amend Schedule A and Schedule B of the Agreement to add each New Fund and each New Fund’s respective investment advisory fees, to remove the Merged Funds and each Merged Fund’s respective investment advisory fees, to update the names of certain Funds pursuant to the Fund Name Changes, and to update investment advisory fees for certain Funds pursuant to the Fee Changes, effective April 26, 2021.

Now Therefore, in consideration of the mutual covenants herein contained, the Parties hereby agree to amend the Agreement as follows:

Schedule A to the Agreement is hereby deleted and replaced, in its entirety, with Schedule A dated April 26, 2021, attached hereto.

Schedule B to the Agreement is hereby deleted and replaced, in its entirety, with Schedule B dated April 26, 2021, attached hereto.

Each of the Parties represents and warrants to the others that it has full authority to enter into this Amendment, upon the terms and conditions hereof, and that the individual executing this Amendment is duly authorized to bind the respective party to this Amendment.

This Amendment may be executed in one or more counterparts, which together shall constitute one document.

In Witness Whereof, the Adviser and the Trust have caused this Amendment to be executed, effective April 26, 2021.

JNL Series Trust		Jackson National Asset Management, LLC
By:	*/s/ Kristen K. Leeman*	By:	*/s/ Mark D. Nerud*
Name:	Kristen K. Leeman	Name:	Mark D. Nerud
Title:	Assistant Secretary	Title:	President and CEO

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Schedule A

Dated April 26, 2021

(List of Funds)

Funds

JNL/American Funds^® Balanced Fund

JNL/American Funds^® Bond Fund of America Fund

JNL/American Funds^® Capital Income Builder Fund

JNL/American Funds^® Capital World Bond Fund

JNL/American Funds^® Global Growth Fund

JNL/American Funds^® Global Small Capitalization Fund

JNL/American Funds^® Growth Fund

JNL/American Funds^® Growth-Income Fund

JNL/American Funds^® International Fund

JNL/American Funds^® New World Fund

JNL/American Funds^® Washington Mutual Investors Fund

JNL Aggressive Growth Allocation Fund

JNL Conservative Allocation Fund

JNL Growth Allocation Fund

JNL iShares Tactical Growth Fund

JNL iShares Tactical Moderate Fund

JNL iShares Tactical Moderate Growth Fund

JNL Moderate Allocation Fund

JNL Moderate Growth Allocation Fund

JNL Multi-Manager Alternative Fund

JNL Multi-Manager Emerging Markets Equity Fund

JNL Multi-Manager International Small Cap Fund

JNL Multi-Manager Mid Cap Fund

JNL Multi-Manager Small Cap Growth Fund

JNL Multi-Manager Small Cap Value Fund

JNL/American Funds^® Growth Allocation Fund

JNL/American Funds^® Moderate Growth Allocation Fund

JNL/AQR Large Cap Defensive Style Fund

JNL/Baillie Gifford International Growth Fund

JNL/Baillie Gifford U.S. Equity Growth Fund

JNL/BlackRock Advantage International Fund

JNL/BlackRock Global Allocation Fund

JNL/BlackRock Global Natural Resources Fund

JNL/BlackRock Large Cap Select Growth Fund

JNL/Causeway International Value Select Fund

JNL/ClearBridge Large Cap Growth Fund

JNL/DFA International Core Equity Fund

JNL/DFA U.S. Core Equity Fund

JNL/DFA U.S. Small Cap Fund

JNL/DoubleLine^® Core Fixed Income Fund

A-1

Funds

JNL/DoubleLine^® Emerging Markets Fixed Income Fund

JNL/DoubleLine^® Shiller Enhanced CAPE^® Fund

JNL/DoubleLine^® Total Return Fund

JNL/Fidelity Institutional Asset Management^® Total Bond Fund

JNL/First Sentier Global Infrastructure Fund

JNL/Franklin Templeton Global Multisector Bond Fund

JNL/Franklin Templeton Growth Allocation Fund

JNL/Franklin Templeton Income Fund

JNL/Goldman Sachs 4 Fund

JNL/Goldman Sachs Managed Aggressive Growth Fund

JNL/Goldman Sachs Managed Conservative Fund

JNL/Goldman Sachs Managed Growth Fund

JNL/Goldman Sachs Managed Moderate Fund

JNL/Goldman Sachs Managed Moderate Growth Fund

JNL/GQG Emerging Markets Equity Fund

JNL/Harris Oakmark Global Equity Fund

JNL/Heitman U.S. Focused Real Estate Fund

JNL/Invesco Diversified Dividend Fund

JNL/Invesco Global Growth Fund

JNL/Invesco International Growth Fund

JNL/Invesco Small Cap Growth Fund

JNL/JPMorgan Global Allocation Fund

JNL/JPMorgan Hedged Equity Fund

JNL/JPMorgan MidCap Growth Fund

JNL/JPMorgan U.S. Government & Quality Bond Fund

JNL/JPMorgan U.S. Value Fund

JNL/Lazard International Strategic Equity Fund

JNL/Loomis Sayles Global Growth Fund

JNL/Lord Abbett Short Duration Income Fund

JNL/Mellon Bond Index Fund

JNL/Mellon Communication Services Sector Fund

JNL/Mellon Consumer Discretionary Sector Fund

JNL/Mellon Consumer Staples Sector Fund

JNL/Mellon Dow^SM Index Fund

JNL/Mellon Emerging Markets Index Fund

JNL/Mellon Energy Sector Fund

JNL/Mellon Equity Income Fund

JNL/Mellon Financial Sector Fund

JNL/Mellon Healthcare Sector Fund

JNL/Mellon Industrials Sector Fund

JNL/Mellon Information Technology Sector Fund

JNL/Mellon International Index Fund

JNL/Mellon Materials Sector Fund

A-2

Funds

JNL/Mellon MSCI KLD 400 Social Index Fund

JNL/Mellon Nasdaq^® 100 Index Fund

JNL/Mellon Real Estate Sector Fund

JNL/Mellon S&P 400 MidCap Index Fund

JNL/Mellon S&P 500 Index Fund

JNL S&P 500 Index Fund

JNL/Mellon Small Cap Index Fund

JNL/Mellon U.S. Stock Market Index Fund

JNL/Mellon Utilities Sector Fund

JNL/Mellon World Index Fund

JNL/Morningstar PitchBook Listed Private Equity Index Fund

JNL/Morningstar Wide Moat Index Fund

JNL/MFS Mid Cap Value Fund

JNL/Neuberger Berman Commodity Strategy Fund

JNL/Neuberger Berman Strategic Income Fund

JNL/PIMCO Income Fund

JNL/PIMCO Investment Grade Credit Bond Fund

JNL/PIMCO Real Return Fund

JNL/PPM America Floating Rate Income Fund

JNL/PPM America High Yield Bond Fund

JNL/PPM America Total Return Fund

JNL/RAFI^® Fundamental U.S. Small Cap Fund

JNL/RAFI^® Multi-Factor U.S. Equity Fund

JNL/T. Rowe Price Balanced Fund

JNL/T. Rowe Price Capital Appreciation Fund

JNL/T. Rowe Price Established Growth Fund

JNL/T. Rowe Price Mid-Cap Growth Fund

JNL/T. Rowe Price Short-Term Bond Fund

JNL/T. Rowe Price U.S. High Yield Fund

JNL/T. Rowe Price Value Fund

JNL/Westchester Capital Event Driven Fund

JNL/WCM Focused International Equity Fund

JNL/WMC Balanced Fund

JNL/WMC Equity Income Fund

JNL/WMC Global Real Estate Fund

JNL/WMC Government Money Market Fund

JNL/WMC Value Fund

JNL/Vanguard Growth ETF Allocation Fund

JNL/Vanguard Moderate ETF Allocation Fund

JNL/Vanguard Moderate Growth ETF Allocation Fund

A-3

Schedule B

Dated April 26, 2021

(Compensation)

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/American Funds^® Balanced Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.500%

.490%

.480%

JNL/American Funds^® Bond Fund of America Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.400%

.375%

.350%

.340%

JNL/American Funds^® Capital Income Builder Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.525%

.500%

.490%

.480%

JNL/American Funds^® Capital World Bond Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.550%

.540%

.530%

JNL/American Funds^® Global Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.650%

.600%

.590%

.580%

JNL/American Funds^® Global Small Capitalization Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.650%

.600%

.590%

.580%

JNL/American Funds^® Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.650%

.600%

.590%

.580%

JNL/American Funds^® Growth-Income Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.550%

.540%

.530%

JNL/American Funds^® International Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.750%

.700%

.690%

.680%

JNL/American Funds^® New World Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.950%

.900%

.890%

.880%

JNL/American Funds^® Washington Mutual Investors Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.550%

.540%

.530%

JNL Aggressive Growth Allocation Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

B-1

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL Conservative Allocation Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

JNL Growth Allocation Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.08%

.075%

.070%

JNL iShares Tactical Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.150%

.140%

.130%

JNL iShares Tactical Moderate Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.150%

.140%

.130%

JNL iShares Tactical Moderate Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.150%

.140%

.130%

JNL Moderate Allocation Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

JNL Moderate Growth Allocation Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

JNL Multi-Manager Alternative Fund

$0 to $850 million

$850 million to $3 billion

$3 billion to $5 billion

Over $5 billion

1.200%

1.100%

1.090%

1.080%

JNL Multi-Manager Emerging Markets Equity Fund

$0 to $250 million

$250 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.800%

.750%

.740%

.730%

JNL Multi-Manager International Small Cap Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.750%

.725%

.715%

.705%

JNL Multi-Manager Mid Cap Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.650%

.625%

.600%

.590%

.580%

JNL Multi-Manager Small Cap Growth Fund

$0 to $100 million

$100 million to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.650%

.600%

.550%

.540%

.530%

JNL Multi-Manager Small Cap Value Fund

$0 to $200 million

$200 million to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.750%

.670%

.650%

.640%

.630%

B-2

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/American Funds^® Growth Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.175%

.165%

.155%

JNL/American Funds^® Moderate Growth Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.175%

.165%

.155%

JNL/AQR Large Cap Defensive Style Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.400%

.370%

.360%

.350%

JNL/Baillie Gifford International Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.530%

.520%

.510%

.500%

JNL/Baillie Gifford U.S. Equity Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.450%

.440%

.430%

JNL/BlackRock Advantage International Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.525%

.500%

.490%

JNL/BlackRock Global Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.565%

.550%

.540%

JNL/BlackRock Global Natural Resources Fund

$0 to $300 million

$300 million to $ 1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.500%

.490%

.480%

.470%

JNL/BlackRock Large Cap Select Growth Fund

$0 to $150 million

$150 million to $500 million

$500 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.550%

.500%

.450%

.440%

.430%

JNL/Causeway International Value Select Fund

$0 to $500 million

$500 million to $2 billion

$2 billion to $5 billion

Over $5 billion

.550%

.500%

.470%

.460%

JNL/ClearBridge Large Cap Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.450%

.440%

.430%

JNL/DFA International Core Equity Fund

$0 to $3 billion

$3 billion to $5 billion

Over $5 billion

.450%

.440%

.430%

JNL/DFA U.S. Core Equity Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.400%

.375%

.360%

.350%

B-3

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/DFA U.S. Small Cap Fund

$0 to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.540%

.530%

JNL/DoubleLine^® Core Fixed Income Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.390%

.360%

.350%

.340%

JNL/DoubleLine^® Emerging Markets Fixed Income Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.625%

.600%

.590%

.580%

JNL/DoubleLine^® Shiller Enhanced CAPE^® Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over 5 billion

.600%

.575%

.520%

.510%

.500%

JNL/DoubleLine^® Total Return Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.450%

.400%

.390%

.380%

JNL/Fidelity Institutional Asset Management^® Total Bond Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.400%

.380%

.350%

.340%

.330%

JNL/First Sentier Global Infrastructure Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over 5 billion

.700%

.690%

.630%

.620%

.610%

JNL/Franklin Templeton Global Multisector Bond Fund

$0 to $1 billion

$1 billion to $2 billion

$2 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.500%

.475%

.465%

.455%

JNL/Franklin Templeton Growth Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.530%

.520%

.510%

JNL/Franklin Templeton Income Fund

$0 to $100 million

$100 million to $200 million

$200 million to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.700%

.650%

.550%

.500%

.490%

.480%

JNL/Goldman Sachs 4 Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.300%

.250%

.240%

.230%

JNL/Goldman Sachs Managed Aggressive Growth Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

B-4

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/Goldman Sachs Managed Conservative Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

JNL/Goldman Sachs Managed Growth Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

JNL/Goldman Sachs Managed Moderate Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

JNL/Goldman Sachs Managed Moderate Growth Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.130%

.080%

.075%

.070%

JNL/GQG Emerging Markets Equity Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.900%

.875%

.850%

.840%

JNL/Harris Oakmark Global Equity Fund

$0 to $250 million

$250 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.700%

.675%

.650%

.640%

.630%

JNL/Heitman U.S. Focused Real Estate Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.650%

.600%

.590%

.580%

JNL/Invesco Diversified Dividend Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.525%

.500%

.490%

.480%

JNL/Invesco Global Growth Fund

$0 to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.490%

.480%

JNL/Invesco International Growth Fund

$0 to $500 million

$500 million to $2 billion

$2 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.500%

.480%

.470%

.460%

JNL/Invesco Small Cap Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.675%

.630%

.620%

.610%

JNL/JPMorgan Global Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.550%

.540%

.530%

JNL/JPMorgan Hedged Equity Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.450%

.440%

.430%

B-5

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/JPMorgan MidCap Growth Fund

$0 to $250 million

$250 million to $750 million

$750 million to $1.5 billion

$1.5 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.550%

.500%

.450%

.440%

.430%

JNL/JPMorgan U.S. Government & Quality Bond Fund

$0 to $150 million

$150 million to $300 million

$300 million to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.400%

.350%

.300%

.250%

.240%

.230%

JNL/JPMorgan U.S. Value Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.450%

.440%

.430%

JNL/Lazard International Strategic Equity Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.700%

.650%

.640%

.630%

JNL/Loomis Sayles Global Growth Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.500%

.490%

.480%

JNL/Lord Abbett Short Duration Income Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.350%

.300%

.290%

.280%

JNL/Mellon Bond Index Fund

$0 to $500 million

$500 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.180%

.150%

.140%

.130%

.120%

JNL/Mellon Communication Services Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Consumer Discretionary Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Consumer Staples Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

B -6

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/Mellon Dow^SM Index Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Emerging Markets Index Fund

$0 to $500 million

$500 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.300%

.250%

.200%

.190%

.180%

JNL/Mellon Energy Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Equity Income Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.450%

.400%

.390%

.380%

JNL/Mellon Financial Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Healthcare Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Industrials Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Information Technology Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon International Index Fund

$0 to $500 million

$500 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.150%

.140%

.130%

.120%

JNL/Mellon Materials Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

B-7

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/Mellon MSCI KLD 400 Social Index Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.250%

.200%

.190%

.180%

JNL/Mellon Nasdaq^® 100 Index Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over 5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon Real Estate Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon S&P 400 MidCap Index Fund

$0 to $500 million

$500 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.190%

.140%

.130%

.120%

.110%

JNL/Mellon S&P 500 Index Fund

$0 to $500 million

$500 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.170%

.130%

.120%

.110%

.090%

JNL S&P 500 Index Fund

$0-$1 billion

$1 billion to $3 billion

$3 to $5 billion

Over $5 billion

0.20%

0.175%

0.165%

0.155%

JNL/Mellon Small Cap Index Fund

$0 to $500 million

$500 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.190%

.140%

.130%

.120%

.110%

JNL/Mellon U.S. Stock Market Index Fund

$0 to $1 billion

$1 billion to $5 billion

Over $5 billion

.175%

.150%

.140%

JNL/Mellon Utilities Sector Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Mellon World Index Fund

$0 to $50 million

$50 million to $100 million

$100 million to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.240%

.210%

.180%

.170%

.160%

.150%

JNL/Morningstar PitchBook Listed Private Equity Index Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.175%

.165%

.155%

B-8

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/Morningstar Wide Moat Index Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.175%

.165%

.155%

JNL/MFS Mid Cap Value Fund

$0 to $100 million

$100 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.600%

.550%

.540%

.530%

.520%

JNL/Neuberger Berman Commodity Strategy Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.450%

.400%

.390%

.380%

JNL/Neuberger Berman Strategic Income Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.450%

.400%

.390%

.380%

JNL/PIMCO Income Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.450%

.440%

.430%

JNL/PIMCO Investment Grade Credit Bond Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.350%

.300%

.290%

.280%

JNL/PIMCO Real Return Fund

$0 to $1 billion

$1 billion to $2 billion

$2 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.390%

.375%

.365%

.355%

.345%

JNL/PPM America Floating Rate Income Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.500%

.450%

.425%

.415%

.405%

JNL/PPM America High Yield Bond Fund

$0 to $150 million

$150 million to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.400%

.350%

.325%

.315%

.305%

JNL/PPM America Total Return Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.400%

.350%

.340%

.330%

JNL/RAFI^® Fundamental U.S. Small Cap Fund

$0 to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.180%

.170%

.160%

.150%

JNL/RAFI^® Multi-Factor U.S. Equity Fund

$0 to $750 million

$750 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.180%

.170%

.160%

.150%

B-9

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/T. Rowe Price Balanced Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.475%

.450%

.440%

.430%

JNL/T. Rowe Price Capital Appreciation Fund

$0 to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.575%

.550%

.530%

.520%

.510%

JNL/T. Rowe Price Established Growth Fund

$0 to $150 million

$150 million to $500 million

$500 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.500%

.450%

.440%

.430%

.420%

JNL/T. Rowe Price Mid-Cap Growth Fund

$0 to $150 million

$150 million to $1 billion

$1 billion to $3 billion

Over $3 billion

.650%

.600%

.590%

.580%

JNL/T. Rowe Price Short-Term Bond Fund

$0 to $250 million

$250 million to $1.5 billion

$1.5 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.350%

.300%

.275%

.265%

.255%

JNL/T. Rowe Price U.S. High Yield Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.525%

.500%

.490%

.480%

JNL/T. Rowe Price Value Fund

$0 to $150 million

$150 million to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.550%

.480%

.470%

.450%

.440%

JNL/Westchester Capital Event Driven Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

1.050%

.900%

.890%

.880%

JNL/WCM Focused International Equity Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.700%

.650%

.640%

.630%

JNL/WMC Balanced Fund

$0 to $50 million

$50 million to $150 million

$150 million to $300 million

$300 million to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.450%

.400%

.375%

.350%

.325%

.315%

.305%

JNL/WMC Equity Income Fund

$0 to $3 billion

$3 billion to $5 billion

Over $5 billion

.440%

..430%

..420%

B-10

Fund

Assets

Advisory Fee

(Annual Rate Based on Average

Net Assets of each Fund)

JNL/WMC Global Real Estate Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.575%

.550%

.530%

.520%

JNL/WMC Government Money Market Fund

$0 to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.180%

.150%

.140%

.130%

JNL/WMC Value Fund

$0 to $300 million

$300 million to $500 million

$500 million to $3 billion

$3 billion to $5 billion

Over $5 billion

.450%

.400%

.350%

.340%

.330%

JNL/Vanguard Growth ETF Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.175%

.165%

.155%

JNL/Vanguard Moderate ETF Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.175%

.165%

.155%

JNL/Vanguard Moderate Growth ETF Allocation Fund

$0 to $1 billion

$1 billion to $3 billion

$3 billion to $5 billion

Over $5 billion

.200%

.175%

.165%

.155%

B-11