[LOGO ING FUNDS]
(e)(1)
January 20, 2006
Xxxxxxx Xxxxxxx
Senior Vice President
ING Investment Management Co.
00 Xxxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000-0000
Dear Xx. Xxxxxxx:
Pursuant to the Sub-Advisory Agreement dated August 1, 2003 between ING
Investments, LLC and ING Investment Management Co., as amended (the
"Agreement"), we hereby modify the fees payable to the Sub-Adviser for ING GNMA
Income Fund, ING High Yield Bond Fund, ING Intermediate Bond Fund and ING
National Tax-Exempt Bond Fund (the "Funds"). Upon your acceptance, the Agreement
will be modified to give effect to the foregoing by modifying the annual
sub-advisory fees for the Funds as indicated on Amended Schedule A of the
Agreement, effective January 20, 2006. The Amended Schedule A, with the annual
sub-advisory fees indicated for the Funds, is attached hereto.
Please signify your acceptance to the modification of the annual
sub-advisory fees for the Funds by signing below where indicated.
Very sincerely,
/s/ Xxxx Xxxxx
---------------------
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
ACCEPTED AND AGREED TO:
ING Investment Management Co.
By: /s/ Xxxxxxx X. Xxxxxx
---------------------
Name: Xxxxxxx X. Xxxxxx
Title: SVP & CEO, Duly Authorized
0000 X. Xxxxxxxxxx Xxxxx Xx. Tel: 000-000-0000 ING Funds Trust
Scottsdale, AZ 00000-0000 Fax: 000-000-0000
xxx.xxxxxxxx.xxx
AMENDED SCHEDULE A
with respect to the
SUB-ADVISORY AGREEMENT
between
ING INVESTMENTS, LLC
and
ING INVESTMENT MANAGEMENT CO.
Annual Sub-Adviser Fee
Series (as a percentage of average daily net assets)
ING Classic Money Market Fund 0.1125%
ING GNMA Income Fund 0.2115% on first $1 billion of assets
0.1800% on next $4 billion of assets
0.1575% on assets thereafter
ING High Yield Bond Fund 0.2295% on first $1 billion of assets
0.2025% on next $4 billion of assets
0.1800% on assets thereafter
ING Institutional Prime Money Market Fund 0.04%
ING Intermediate Bond Fund 0.0765%
ING National Tax-Exempt Bond Fund 0.1350%
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