Common use of billion Clause in Contracts

billion. The credit will apply at asset levels between $1.364 billion and $1.5 billion. To accommodate circumstances where the Portfolio’s assets fall beneath $1.5 billion and to prevent a decline in the Portfolios’ assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.275% fee schedule. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 billion, when the flat 0.25% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 billion, where the flat 0.275% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.275% fee schedule and the flat 0.25% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposes, divided by the difference between the $1.5 billion and the $1.364 billion threshold. The credit would approach $375,000 annually when the T. ▇▇▇▇ Price Large Cap Value Portfolio’s assets were close to $1.5 billion and fall to zero at approximately $1.364 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X $375,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 billion and the flat fee once assets reach $2 billion. The credit will apply at asset levels between approximately $1.96 billion and $2 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.250% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 billion, when the flat 0.245% fee would be triggered, or (b) fall below a threshold of approximately $1.96 billion, where the flat 0.250% fee would be fully re-applied.

billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $2,938,775,510.20 X $150,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $4 billion and the flat fee once assets reach $4 billion. The credit will apply at asset levels between approximately $1.364 3.83 billion and $1.5 4 billion. To accommodate circumstances where the PortfolioFund’s assets fall beneath $1.5 4 billion and to prevent a decline in the Portfolios’ Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2750.240% fee schedulefee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 4 billion, when the flat 0.250.230% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 3.83 billion, where the flat 0.2750.240% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.2750.240% fee schedule and the flat 0.250.230% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposespurposes and the $3.83 billion, divided by the difference between the $1.5 4 billion and the $1.364 3.83 billion threshold. The credit would approach $375,000 400,000 annually when the T. ▇▇▇▇ Price Large Cap Value PortfolioFund’s assets were close to $1.5 4 billion and fall to zero at approximately $1.364 3.83 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 3,833,333,333.33 X $375,000 400,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 5.5 billion and the flat fee once assets reach $2 5.5 billion. The credit will apply at asset levels between approximately $1.96 5.38 billion and $2 5.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 5.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2500.230% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 5.5 billion, when the flat 0.2450.225% fee would be triggered, or (b) fall below a threshold of approximately $1.96 5.38 billion, where the flat 0.2500.230% fee would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.230% fee and the flat 0.225% fee by the difference between the current portfolio size for billing purposes and the $5.38 billion, divided by the difference between $5.5 billion and the $5.38 billion threshold. The credit would approach $275,000 annually when the Fund’s assets were close to $5.5 billion and fall to zero at approximately $5.38 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $5,380,434,782.61 X $275,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $7.5 billion and the flat fee once assets reach $7.5 billion. The credit will apply at asset levels between approximately $7.33 billion and $7.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $7.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.225% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $7.5 billion, when the flat 0.220% fee would be triggered, or (b) fall below a threshold of approximately $7.33 billion, where the flat 0.225% fee would be fully re-applied.

billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $2,938,775,510.20 x $150,000 For the JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $4 billion and the flat fee once assets reach $4 billion. The credit will apply at asset levels between approximately $1.364 3.83 billion and $1.5 4 billion. To accommodate circumstances where the PortfolioFund’s assets fall beneath $1.5 4 billion and to prevent a decline in the Portfolios’ Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2750.240% fee schedulefee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 4 billion, when the flat 0.250.230% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 3.83 billion, where the flat 0.2750.240% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.2750.240% fee schedule and the flat 0.250.230% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposespurposes and the $3.83 billion, divided by the difference between the $1.5 4 billion and the $1.364 3.83 billion threshold. The credit would approach $375,000 400,000 annually when the T. ▇▇▇▇ Price Large Cap Value PortfolioFund’s assets were close to $1.5 4 billion and fall to zero at approximately $1.364 3.83 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X 3,833,333,333.33 x $375,000 400,000 For the JNL/T. JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 5.5 billion and the flat fee once assets reach $2 5.5 billion. The credit will apply at asset levels between approximately $1.96 5.38 billion and $2 5.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 5.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2500.230% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 5.5 billion, when the flat 0.2450.225% fee would be triggered, or (b) fall below a threshold of approximately $1.96 5.38 billion, where the flat 0.2500.230% fee would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.230% fee and the flat 0.225% fee by the difference between the current portfolio size for billing purposes and the $5.38 billion, divided by the difference between $5.5 billion and the $5.38 billion threshold. The credit would approach $275,000 annually when the Fund’s assets were close to $5.5 billion and fall to zero at approximately $5.38 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $5,380,434,782.61 x $275,000 For the JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $7.5 billion and the flat fee once assets reach $7.5 billion. The credit will apply at asset levels between approximately $7.33 billion and $7.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $7.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.225% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $7.5 billion, when the flat 0.220% fee would be triggered, or (b) fall below a threshold of approximately $7.33 billion, where the flat 0.225% fee would be fully re-applied.

billion. The credit will apply at asset levels between $1.364 1.375 billion and $1.5 billion. To accommodate circumstances where the Portfolio’s assets fall beneath $1.5 billion and to prevent a decline in the Portfolios’ assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.275% fee schedule. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 billion, when the flat 0.25% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 billion, where the flat 0.275% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.275% fee schedule and the flat 0.25% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposes, divided by the difference between the $1.5 billion and the $1.364 billion threshold. The credit would approach $375,000 annually when the T. ▇. ▇▇▇▇ Price Large Cap Value Portfolio’s assets were close to $1.5 billion and fall to zero at approximately $1.364 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X x $375,000 For the JNL/T. JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 billion and the flat fee once assets reach $2 billion. The credit will apply at asset levels between approximately $1.96 billion and $2 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.250% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 billion, when the flat 0.245% fee would be triggered, or (b) fall below a threshold of approximately $1.96 billion, where the flat 0.250% fee would be fully re-applied.

billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $2,938,775,510.20 X $150,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $4 billion and the flat fee once assets reach $4 billion. The credit will apply at asset levels between approximately $1.364 3.83 billion and $1.5 4 billion. To accommodate circumstances where the PortfolioFund’s assets fall beneath $1.5 4 billion and to prevent a decline in the Portfolios’ Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2750.240% fee schedulefee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 4 billion, when the flat 0.250.230% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 3.83 billion, where the flat 0.2750.240% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.2750.240% fee schedule and the flat 0.250.230% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposespurposes and the $3.83 billion, divided by the difference between the $1.5 4 billion and the $1.364 3.83 billion threshold. The credit would approach $375,000 400,000 annually when the T. ▇▇▇▇ Price Large Cap Value PortfolioFund’s assets were close to $1.5 4 billion and fall to zero at approximately $1.364 3.83 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 3,833,333,333.33 X $375,000 400,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 5.5 billion and the flat fee once assets reach $2 5.5 billion. The credit will apply at asset levels between approximately $1.96 5.38 billion and $2 5.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 5.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2500.230% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 5.5 billion, when the flat 0.2450.225% fee would be triggered, or (b) fall below a threshold of approximately $1.96 5.38 billion, where the flat 0.2500.230% fee would be fully re-applied.. The credit is determined by multiplying the difference between the flat 0.230% fee and the flat 0.225% fee by the difference between the current portfolio size for billing purposes and the $5.38 billion, divided by the difference between $5.5 billion and the $5.38 billion threshold. The credit would approach $275,000 annually when the Fund’s assets were close to $5.5 billion and fall to zero at approximately $5.38 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $5,380,434,782.61 X $275,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $7.5 billion and the flat fee once assets reach $7.5 billion. The credit will apply at asset levels between approximately $7.33 billion and $7.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $7.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.225% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $7.5 billion, when the flat 0.220% fee would be triggered, or (b) fall below a threshold of approximately $7.33 billion, where the flat 0.225% fee would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.225% fee and the flat 0.220% fee by the difference between the current portfolio size for billing purposes and the $7.33 billion, divided by the difference between $7.5 billion and the $7.33 billion threshold. The credit would approach $375,000 annually when the Fund’s assets were close to $7.5 billion and fall to zero at approximately $7.33 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $7,333,333,333.33 X $375,000 $0 to $1 billion 0.50% All Assets 0.425% All Assets 0.400%

billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $2,938,775,510.20 X $150,000 $61,224,489.80 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $4 billion and the flat fee once assets reach $4 billion. The credit will apply at asset levels between approximately $1.364 3.83 billion and $1.5 4 billion. To accommodate circumstances where the PortfolioFund’s assets fall beneath $1.5 4 billion and to prevent a decline in the Portfolios’ Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2750.240% fee schedulefee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 4 billion, when the flat 0.250.230% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 3.83 billion, where the flat 0.2750.240% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.2750.240% fee schedule and the flat 0.250.230% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposespurposes and the $3.83 billion, divided by the difference between the $1.5 4 billion and the $1.364 3.83 billion threshold. The credit would approach $375,000 400,000 annually when the T. ▇▇▇▇ Price Large Cap Value PortfolioFund’s assets were close to $1.5 4 billion and fall to zero at approximately $1.364 3.83 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 3,833,333,333.33 X $375,000 400,000 $166,666,666.67 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 5.5 billion and the flat fee once assets reach $2 5.5 billion. The credit will apply at asset levels between approximately $1.96 5.38 billion and $2 5.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 5.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2500.230% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 5.5 billion, when the flat 0.2450.225% fee would be triggered, or (b) fall below a threshold of approximately $1.96 5.38 billion, where the flat 0.2500.230% fee would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.230% fee and the flat 0.225% fee by the difference between the current portfolio size for billing purposes and the $5.38 billion, divided by the difference between $5.5 billion and the $5.38 billion threshold. The credit would approach $275,000 annually when the Fund’s assets were close to $5.5 billion and fall to zero at approximately $5.38 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $5,380,434,782.61 X $275,000 $119,565,217.39 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $7.5 billion and the flat fee once assets reach $7.5 billion. The credit will apply at asset levels between approximately $7.33 billion and $7.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $7.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.225% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $7.5 billion, when the flat 0.220% fee would be triggered, or (b) fall below a threshold of approximately $7.33 billion, where the flat 0.225% fee would be fully re-applied.

billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $2,938,775,510.20 x $150,000 $61,224,489.80 For the JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $4 billion and the flat fee once assets reach $4 billion. The credit will apply at asset levels between approximately $1.364 3.83 billion and $1.5 4 billion. To accommodate circumstances where the PortfolioFund’s assets fall beneath $1.5 4 billion and to prevent a decline in the Portfolios’ Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2750.240% fee schedulefee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 4 billion, when the flat 0.250.230% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 3.83 billion, where the flat 0.2750.240% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.2750.240% fee schedule and the flat 0.250.230% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposespurposes and the $3.83 billion, divided by the difference between the $1.5 4 billion and the $1.364 3.83 billion threshold. The credit would approach $375,000 400,000 annually when the T. ▇▇▇▇ Price Large Cap Value PortfolioFund’s assets were close to $1.5 4 billion and fall to zero at approximately $1.364 3.83 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X 3,833,333,333.33 x $375,000 400,000 $166,666,666.67 For the JNL/T. JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 5.5 billion and the flat fee once assets reach $2 5.5 billion. The credit will apply at asset levels between approximately $1.96 5.38 billion and $2 5.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 5.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.2500.230% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 5.5 billion, when the flat 0.2450.225% fee would be triggered, or (b) fall below a threshold of approximately $1.96 5.38 billion, where the flat 0.2500.230% fee would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.230% fee and the flat 0.225% fee by the difference between the current portfolio size for billing purposes and the $5.38 billion, divided by the difference between $5.5 billion and the $5.38 billion threshold. The credit would approach $275,000 annually when the Fund’s assets were close to $5.5 billion and fall to zero at approximately $5.38 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $5,380,434,782.61 x $275,000 $119,565,217.39 For the JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $7.5 billion and the flat fee once assets reach $7.5 billion. The credit will apply at asset levels between approximately $7.33 billion and $7.5 billion. To accommodate circumstances where the Fund’s assets fall beneath $7.5 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.225% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $7.5 billion, when the flat 0.220% fee would be triggered, or (b) fall below a threshold of approximately $7.33 billion, where the flat 0.225% fee would be fully re-applied.

billion. The credit will apply at asset levels between $1.364 1.375 billion and $1.5 billion. To accommodate circumstances where the Portfolio’s assets fall beneath $1.5 billion and to prevent a decline in the Portfolios’ assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.275% fee schedule. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 billion, when the flat 0.25% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 billion, where the flat 0.275% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.275% fee schedule and the flat 0.25% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposes, divided by the difference between the $1.5 billion and the $1.364 billion threshold. The credit would approach $375,000 annually when the T. ▇. ▇▇▇▇ Price Large Cap Value Portfolio’s assets were close to $1.5 billion and fall to zero at approximately $1.364 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X x $375,000 For the JNL/T. JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 4 billion and the flat fee once assets reach $2 4 billion. The credit will apply at asset levels between approximately $1.96 3.92 billion and $2 4 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 4 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.250% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 4 billion, when the flat 0.245% fee would be triggered, or (b) fall below a threshold of approximately $1.96 3.92 billion, where the flat 0.250% fee would be fully re-applied.. The credit is determined by multiplying the difference between the flat 0.250% fee and the flat 0.245% fee by the difference between the current portfolio size for billing purposes and the $3.92 billion, divided by the difference between $4 billion and the $3.92 billion threshold. The credit would approach $200,000 annually when the Fund’s assets were close to $4 billion and fall to zero at approximately $3.92 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $3,920,000,000 x $200,000 $80,000,000 $0 to $20 million 0.60% $20 million to $50 million 0.50% $50 million to $200 million 0.50% Amounts over $200 million 0.50%(5)

billion. The credit will apply at asset levels between $1.364 1.375 billion and $1.5 billion. To accommodate circumstances where the Portfolio’s assets fall beneath $1.5 billion and to prevent a decline in the Portfolios’ assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.275% fee schedule. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 billion, when the flat 0.25% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 billion, where the flat 0.275% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.275% fee schedule and the flat 0.25% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposes, divided by the difference between the $1.5 billion and the $1.364 billion threshold. The credit would approach $375,000 annually when the T. ▇▇▇▇ Price Large Cap Value Portfolio’s assets were close to $1.5 billion and fall to zero at approximately $1.364 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X $375,000 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 billion and the flat fee once assets reach $2 billion. The credit will apply at asset levels between approximately $1.96 billion and $2 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.250% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 billion, when the flat 0.245% fee would be triggered, or (b) fall below a threshold of approximately $1.96 billion, where the flat 0.250% fee would be fully re-applied.

billion. The credit will apply at asset levels between $1.364 1.375 billion and $1.5 billion. To accommodate circumstances where the Portfolio’s assets fall beneath $1.5 billion and to prevent a decline in the Portfolios’ assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.275% fee schedule. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 billion, when the flat 0.25% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 billion, where the flat 0.275% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.275% fee schedule and the flat 0.25% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposes, divided by the difference between the $1.5 billion and the $1.364 billion threshold. The credit would approach $375,000 annually when the T. ▇. ▇▇▇▇ Price Large Cap Value Portfolio’s assets were close to $1.5 billion and fall to zero at approximately $1.364 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X x $375,000 For the JNL/T. JNL/▇. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 billion and the flat fee once assets reach $2 billion. The credit will apply at asset levels between approximately $1.96 billion and $2 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.250% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 billion, when the flat 0.245% fee would be triggered, or (b) fall below a threshold of approximately $1.96 billion, where the flat 0.250% fee would be fully re-applied.. The credit is determined by multiplying the difference between the flat 0.250% fee and the flat 0.245% fee by the difference between the current portfolio size for billing purposes and the $1.96 billion, divided by the difference

billion. The credit will apply at asset levels between $1.364 1.375 billion and $1.5 billion. To accommodate circumstances where the Portfolio’s assets fall beneath $1.5 billion and to prevent a decline in the Portfolios’ assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.275% fee schedule. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $1.5 billion, when the flat 0.25% bps fee would be triggered, or (b) fall below a threshold of approximately $1.364 billion, where the flat 0.275% fee schedule would be fully re-applied. The credit is determined by multiplying the difference between the flat 0.275% fee schedule and the flat 0.25% fee schedule by the difference between $1.364 billion and the current portfolio size for billing purposes, divided by the difference between the $1.5 billion and the $1.364 billion threshold. The credit would approach $375,000 annually when the T. ▇▇▇▇ Price Large Cap Value Portfolio’s assets were close to $1.5 billion and fall to zero at approximately $1.364 billion. The annualized transitional credit is determined as follows, and the appropriate portion thereof (based upon the number of days in the month) will be applied as a credit to fees assessed: Current Portfolio Size for Billing Purposes - $1,363,636,363 X $375,000 $136,363,636 For the JNL/T. ▇▇▇▇ Price Value Fund, the Sub-Adviser will provide the Adviser a transitional credit to eliminate any discontinuity between the flat fee when net assets are below $2 billion and the flat fee once assets reach $2 billion. The credit will apply at asset levels between approximately $1.96 billion and $2 billion. To accommodate circumstances where the Fund’s assets fall beneath $2 billion and to prevent a decline in the Fund’s assets from causing an increase in the absolute dollar fee, the Sub-Adviser will provide a transitional credit to cushion the impact of reverting to the flat 0.250% fee. The credit will be applied against the fees assessed under the existing fee schedule and will have the effect of reducing the dollar fee until assets either (a) exceed $2 billion, when the flat 0.245% fee would be triggered, or (b) fall below a threshold of approximately $1.96 billion, where the flat 0.250% fee would be fully re-applied.