EX-77.(e)(19)
FIRST AMENDMENT TO AMENDED AND RESTATED
PORTFOLIO MANAGMENT AGREEMENT
ING INVESTORS TRUST
This First Amendment (the "Amendment"), effective as of December 15, 2006,
amends the Amended and Restated Portfolio Management Agreement (the "Agreement")
dated the 29th day of April, 2005 among ING Investors Trust, a Massachusetts
business trust (the "Trust"), Directed Services, Inc., a New York corporation
(the "Manager") and Xxxxxxx Capital Management, LLC, a limited liability company
organized under the laws of the State of Delaware (the "Portfolio Manager").
W I T N E S S E T H
WHEREAS, the parties desire to amend the Agreement and agree that the
Amendment will be effective as of December 15, 2006.
NOW, THEREFORE, the parties agree as follows:
1. The first two sentences of Section 16 are hereby deleted in their
entirety and replaced with the following:
16. Duration and Termination. With respect to each Series identified
as a Series on Schedule A hereto as in effect on the date of this
Amendment, unless earlier terminated with respect to any Series this
Agreement shall continue in full force and effect through November 30,
2007. Thereafter, unless earlier terminated with respect to a Series, the
Agreement shall continue in full force and effect with respect to each
such Series for periods of one year, provided that such continuance is
specifically approved at least annually by (i) the vote of a majority of
the Board of Trustees of the Trust, or (ii) the vote of a majority of the
outstanding voting securities (as defined in the 0000 Xxx) of the Series,
and provided that such continuance is also approved by the vote of a
majority of the Board of Trustees of the Trust who are not parties to this
Agreement or "interested persons" (as defined in the 0000 Xxx) of the
Trust or the Manager, cast in person at a meeting called for the purpose
of voting on such approval.
With respect to any Series that was added to Schedule A hereto as a
Series after the date of this Amendment, the Agreement shall become
effective on the later of (i) the date Schedule A is amended to reflect
the addition of such Series as a Series under the Agreement or (ii) the
date upon which the shares of the Series are first sold to the public,
subject to the condition that the Trust's Board of Trustees, including a
majority of those Trustees who are not interested persons (as such term is
defined in the 0000 Xxx) of the Trust or the Manager, and the shareholders
of such Series, shall have approved this Agreement. Unless terminated
earlier as provided herein with respect to any such Series, the Agreement
shall continue in full force and effect for a period of two years from the
date of its effectiveness (as identified above) with respect to that
Series. Thereafter, unless earlier terminated with respect to a Series,
the Agreement shall continue in full force and effect with respect to each
such Series for periods of one year, provided that such continuance is
specifically approved at least annually by (i) the vote of a majority of
the Board of Trustees of the Trust, or (ii) vote of a majority of the
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outstanding voting securities (as defined in the 0000 Xxx) of such Series,
and provided that such continuance is also approved by the vote of a
majority of the Board of Trustees of the Trust who are not parties to this
Agreement or "interested persons" (as defined in the 0000 Xxx) of the
Trust or the Manager, cast in person at a meeting called for the purpose
of voting on such approval.
3. Capitalized terms used herein and not otherwise defined shall have the
meanings ascribed to them in the Agreement.
4. In all other respects, the Agreement is hereby confirmed and remains in
full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed as of the day and year first above written.
ING INVESTORS TRUST
By: /s/Xxxxxx X. Naka
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Xxxxxx X. Naka
Executive Vice President
DIRECTED SERVICES, INC.
By: /s/Xxxx Xxxxx
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Xxxx Xxxxx
Vice President
XXXXXXX CAPITAL MANAGEMENT, LLC
By: /s/Xxxx X. Xxxxxx
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Name: Xxxx X. Xxxxxx
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Title: Executive Vice President and Chief Operations Officer
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