EXHIBIT (d)(7)(ii)
SECOND AMENDMENT TO SUB-ADVISER AGREEMENT
ING EQUITY TRUST
This Second Amendment, effective as of September 1, 2003, amends the
Sub-Adviser Agreement (the "Agreement") dated the 9th day of May, 2001, as
amended, between ING Investments, LLC, an Arizona limited liability company (the
"Manager") and Aeltus Investment Management, Inc., a Connecticut corporation
(the "Sub-Adviser") with regards to ING Principal Protection Fund, ING Principal
Protection Fund II, ING Principal Protection Fund III, ING Principal Protection
Fund IV, ING Principal Protection Fund V, ING Principal Protection Fund VI, ING
Principal Protection Fund VII, ING Principal Protection Fund VIII and ING
Principal Protection Fund IX, each a Series of ING Equity Trust.
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 September 1, 2003.
NOW, THEREFORE, the parties agree as follows:
1. The following Section 10 is hereby inserted between existing
Section 9 and Section 10:
10. Non-Exclusivity. The services of the Sub-Adviser to
the Series and the Fund are not to be deemed to be exclusive, and the
Sub-Adviser shall be free to render investment advisory or other services to
others (including other investment companies) and to engage in other activities,
provided, however, that the Sub-Adviser may not consult with any other
sub-adviser of the Fund concerning transactions in securities or other assets
for any investment portfolio of the Fund, including the Series, except that such
consultations are permitted between the current and successor sub-advisers of
the Series in order to effect an orderly transition of sub-advisory duties so
long as such consultations are not concerning transactions prohibited by Section
17(a) of the 1940 Act.
2. Each Section number and applicable references to each Section
following the inserted Section 10 above, will increase numerically by one (i.e.,
Section 13 will be Section 14, etc.).
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.
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IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be executed as of the day and year first above written.
ING INVESTMENTS, LLC
By: /s/ Xxxxxxx X. Xxxxxx
----------------------------
Xxxxxxx X. Xxxxxx
Executive Vice President
AELTUS INVESTMENT MANAGEMENT, INC.
By: /s/ Xxxxxxx Xxxxxxx
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Name: Xxxxxxx Xxxxxxx
Title: Senior Vice President
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SECOND AMENDMENT TO AMENDED AND RESTATED
SCHEDULE A
WITH RESPECT TO THE
SUB-ADVISER AGREEMENT
BETWEEN
ING INVESTMENTS, LLC
AN ARIZONA LIMITED LIABILITY COMPANY
AND
AELTUS INVESTMENT MANAGEMENT, INC.
SERIES* ANNUAL SUB-ADVISER FEE
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ING Principal Protection Fund Offering Phase 0.1250%
Guarantee Period 0.3600%
Index Plus LargeCap Period 0.2700%
ING Principal Protection Fund II Offering Phase 0.1250%
Guarantee Period 0.3600%
Index Plus LargeCap Period 0.2700%
ING Principal Protection Fund III Offering Phase 0.1250%
Guarantee Period 0.3600%
Index Plus LargeCap Period 0.2700%
ING Principal Protection Fund IV Offering Phase 0.1250%
Guarantee Period 0.3600%
Index Plus LargeCap Period 0.2700%
ING Principal Protection Fund V Offering Phase 0.1250%
Guarantee Period 0.3600%
Index Plus LargeCap Period 0.2700%
ING Principal Protection Fund VI Offering Phase 0.1250%
Guarantee Period 0.3600%
Index Plus LargeCap Period 0.2700%
ING Principal Protection Fund VII Offering Phase 0.1125%
Guarantee Period 0.3600%
Index Plus LargeCap Period 0.2700%
*This Schedule A to the Sub-Adviser Agreement will be effective with respect to
the Series upon the effective date of the post effective amendment to the
Trust's Registration Statement with respect to each Series.
SERIES* ANNUAL SUB-ADVISER FEE
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ING Principal Protection Fund VIII Offering Phase 0.1125%
Guarantee Period:
- Equity Component 0.3600%
- Fixed Component 0.2475%
- ETF & Futures Strategy
in lieu of Equity Strategy 0.2475%
Index Plus LargeCap Period 0.2700%
ING Principal Protection Fund IX Offering Phase 0.1125%
Guarantee Period:
- Equity Component 0.3600%
- Fixed Component 0.2475%
- ETF & Futures Strategy
in lieu of Equity Strategy 0.2475%
Index Plus LargeCap Period 0.2700%
*This Schedule A to the Sub-Adviser Agreement will be effective with respect to
the Series upon the effective date of the post effective amendment to the
Trust's Registration Statement with respect to each Series.
