EX-99.h(7)
AMENDMENT
TO
ADMINISTRATION AGREEMENT
BETWEEN
JNL SERIES TRUST
AND
▇▇▇▇▇▇▇ NATIONAL ASSET MANAGEMENT, LLC
This AMENDMENT is made by and between ▇▇▇▇▇▇▇ NATIONAL ASSET
MANAGEMENT, LLC, a Michigan limited liability company ("Administrator"), and JNL
SERIES TRUST, a Massachusetts business trust ("Trust").
WHEREAS, the Administrator and the Trust entered into an Administration
Agreement dated as of January 31, 2001 ("Agreement"), whereby the Administrator
agreed to provide certain administrative services to the investment portfolios
of the JNL Series Trust (each a "Series"); and
WHEREAS, pursuant to the Agreement, each Series agreed to pay the
Administrator for the services provided and the expenses assumed by each Series
as set forth in Schedule B to the Agreement, and the Administrator agreed to
accept such fee as full compensation under the Agreement for such services and
expenses which included charges for services and expenses of each Series' legal
counsel; and
WHEREAS, the Trustees of the Trust have agreed by written consent to
exclude from the Administration Agreement the charges for services and expenses
of independent counsel to the disinterested Trustees (as defined in the
Investment Company Act of 1940, as amended), effective as of January 1, 2002.
NOW THEREFORE, in consideration of the mutual covenants herein
contained, the parties hereby agree to amend the Agreement, effective as of
January 1, 2002, as follows:
1. Sub-section 2.1.7 of the Administration Agreement is hereby deleted in its
entirety and replaced by a new Sub-section 2.1.7 which shall read:
"2.1.7 "Legal and Accounting Fees. All charges for services and
expenses of a Series' legal counsel and independent auditors
excluding, however, the charges for services and expenses of
independent legal counsel to the disinterested Trustees (as defined in
the Investment Company Act of 1940, as amended);"
2. Section 2.2 of the Administration Agreement is hereby amended by replacing
the period at the end of Sub-section 2.2.6 with a semi-colon, and by adding
to the end of Section 2.2 a new Sub-section 2.2.7 which shall read:
"2.2.7 Independent Legal Counsel to Disinterested Trustees. All
charges for services and expenses of independent legal counsel to the
disinterested Trustees (as defined in the Investment Company Act of
1940, as amended)."
IN WITNESS WHEREOF, the Administrator and the Trust have caused this
Amendment to be executed as of this 20th day of March, 2002.
▇▇▇▇▇▇▇ NATIONAL ASSET JNL SERIES TRUST
MANAGEMENT, LLC
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Name: ▇▇▇▇ ▇. ▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Title: Chief Financial Officer Title: President
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