Amendment to
Investment Advisory and Management Agreement
between Jackson Variable Series Trust and
Jackson National Asset Management, LLC
This Amendment is made by and between Jackson Variable 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 Investment Advisory and Management Agreement effective April 27, 2015, 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 to the Agreement.
Whereas, the Board of Trustees of the Trust (the “Board”) has approved, and the Parties have agreed to amend Schedule B of the Agreement to reflect advisory fee reductions for the following Fund, effective October 14, 2019:
JNL/DFA U.S. Small Cap Fund.
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 14, 2019, attached hereto. |
| 2) | 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. |
| 3) | 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 October 14, 2019.
| Jackson Variable 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 | ||
Schedule B
Dated October 14, 2019
(Compensation)
Fund
| Assets
| Advisory Fee (Annual Rate Based on Average Net Assets of the 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 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 Institutional Alt 100 Fund |
$0 to $500 million $500 million to $3 billion $3 billion to $5 billion Over $5 billion |
.150% .100% .095% .090% |
| 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/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® Growth Fund |
$0 to $1 billion $1 billion to $3 billion $3 billion to $5 billion Over $5 billion |
.650% .600% .590% .580% |
| JNL/DFA U.S. Small Cap Fund |
$0 to $3 billion $3 billion to $5 billion Over $5 billion |
.550% .540% .530% |
| 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/Eaton Vance Global Macro Absolute Return Advantage Fund |
$0 to $250 million $250 million to $1 billion $1 billion to $3 billion $3 billion to $5 billion Over $5 billion |
.800% .750% .725% .715% .705% |
| JNL/FAMCO Covered Call 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% |
| B-1 |
Fund
| Assets
| Advisory Fee (Annual Rate Based on Average Net Assets of the Fund) |
| 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/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 Currency Fund |
$0 to $1 billion $1 billion to $3 billion $3 billion to $5 billion Over $5 billion |
.550% .500% .490% .480% |
| JNL/Nicholas Convertible Arbitrage Fund |
$0 to $1 billion $1 billion to $3 billion $3 billion to $5 billion Over $5 billion |
.725% .700% .690% .680% |
| 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/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/The London Company Focused U.S. Equity 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% .500% .490% .480% |
| JNL/VanEck International Gold Fund |
$0 to $1 billion $1 billion to $3 billion $3 billion to $5 billion Over $5 billion |
.700% .650% .640% .630% |
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% |
| B-2 |