EX-99.m 12B-1 PLAN
RULE 12b-1 PLAN
JNL Investors Series Trust
1. THE TRUST. JNL Investors Series Trust (the "Trust") is an open-end management
investment company registered as such under the Investment Company Act of 1940,
as amended (the "1940 Act"), and organized as a series trust.
2. THE PLAN. The Trust desires to adopt a plan of distribution pursuant to Rule
12b-1 under the 1940 Act with respect to the shares of beneficial interest
("Shares") of the Service Class of the JNL Money Market Fund ("Fund") of the
Trust, and the Board of Trustees of the Trust (the "Board of Trustees") has
determined that there is a reasonable likelihood that adoption of this Rule
12b-1 Plan (the "Plan") will benefit the Service Class of the Fund and its
holders of Shares. Accordingly, the Trust hereby adopts this Plan in accordance
with Rule 12b-1 under the 1940 Act on the following terms and conditions
(capitalized terms not otherwise defined herein have the meanings assigned
thereto in the Trust's registration statement under the 1940 Act and under the
Securities Act of 1933, as amended, as such registration statement is amended by
any amendments thereto at the time in effect).
3. THE DISTRIBUTOR. The Trust has entered into a written Distribution Agreement
with Jackson National Life Distributors, Inc. (the "Distributor"), pursuant to
which the Distributor will act as the exclusive distributor with respect to the
distribution of Shares as described in the Trust's registration statement.
4. PAYMENTS. The Trust, on behalf of the Fund, will pay a fee, in the amount and
on the terms set forth below, or as may hereafter be determined by the Board of
Trustees, that collectively will not exceed, on an annualized basis, the fee set
forth on Exhibit A attached hereto, as compensation to the Trust's distributor
or others for services in connection with the distribution of the Service Class
of shares of the JNL Money Market Fund and services provided to said Service
Class' shareholders.
5. EFFECTIVE DATE. This Plan shall become effective upon approval by a vote of
both a majority of the Board of Trustees and a majority of the Independent
Trustees, cast in person at a meeting called for the purpose of voting on this
Plan.
6. TERM. This Plan shall, unless terminated as hereinafter provided, remain in
effect with respect to the Service Class of the Fund for one year from its
effective date and shall continue thereafter, provided that its continuance is
specifically approved at least annually by a vote of both a majority of the
Trustees and a majority of Independent Trustees, cast in person at a meeting
called for the purpose of voting on this Plan.
7. AMENDMENT. This Plan may be amended at any time by the Board of Trustees,
provided that (a) any amendment to increase materially the amount to be spent
for the services provided for in paragraph 4 hereof shall be effective only upon
approval by a vote of a majority of the outstanding voting securities (as such
term is defined in the 1940 Act) of the Service Class of the Fund, and (b) any
material amendment of this Plan shall be effective only upon approval by a vote
of both a majority of the Board of Trustees and a majority of the Independent
Trustees, cast in person at a meeting called for the purpose of voting on such
amendment.
8. TERMINATION. This Plan may be terminated at any time, without payment of any
penalty, by vote of a majority of the Independent Trustees, or by vote of a
majority of the outstanding voting securities (as such term is defined in the
1940 Act) of the Service Class of the Fund. In the event of termination or
non-continuance of this Plan, the Trust may reimburse any expense that it
incurred prior to such termination or non-continuance, provided that such
reimbursement is specifically approved by both a majority of the Board of
Trustees and a majority of the Independent Trustees.
9. REPORTS. While this Plan is in effect, the Distributor shall provide to the
Trustees, and the Trustees shall review, at least quarterly, a written report of
the amounts expended pursuant to the Plan and the purposes for which such
expenditures were made.
10. RECORDS. The Trust shall preserve copies of this Plan, each agreement
related hereto and each report referred to in paragraph 9 hereof for a period of
at least six years from the date of the Plan, agreement and report, the first
two years in an easily accessible place.
11. INDEPENDENT TRUSTEES. While this Plan is in effect, the selection and
nomination of Independent Trustees shall be committed to the discretion of the
Trustees who are not "interested persons" of the Trust (as defined in the 1940
Act).
12. SEVERABILITY. If any provision of the Plan shall be held or made invalid by
a court decision, statute, rule or otherwise, the remainder of the Plan shall
not be affected thereby.
Plan adopted _______________, 2000
EXHIBIT A
The fees payable to the Distributor under this Plan shall not exceed,
with respect to a particular Fund and its classes of shares, if applicable, on
an annualized basis, the percentage of such class's average daily net assets set
forth below next to the class's name.
Fund and Class Fee Limitation
JNL Money Market Fund
Service Class 0.50%
