(d)(1)(iv)
[LOGO]
September 12, 2007
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, XX 00000
Dear Xx. Xxxxx:
Pursuant to the Amended and Restated Investment Management Agreement dated
February 1, 2005, as amended, between ING Mutual Funds and ING Investments, LLC
(the "Agreement") we hereby notify you of our intention to retain you as
Manager to render investment advisory services to ING Asia-Pacific Real Estate
Fund and ING European Real Estate Fund, each a newly established series of ING
Mutual Funds (each a "Fund," together, the "Funds"), effective October 15,
2007, upon all of the terms and conditions set forth in the Agreement. Upon
your acceptance, the Agreement will be modified to give effect to the foregoing
by adding the Funds to the Amended Schedule A of the Agreement. The Amended
Schedule A, with the annual investment management fee indicated for the Funds,
is attached to this letter.
In addition, we hereby notify you of our intention to modify the annual
investment management fee for ING Global Value Choice Fund ("Global Value
Choice Fund"), effective January 2, 2008. Upon your acceptance, the Agreement
will be modified to give effect to the foregoing by amending the Amended
Schedule A of the Agreement. The Amended Schedule A, with the annual investment
management fee indicated for Global Value Choice Fund, is attached to this
letter.
Please signify your acceptance to act as Manager under the Agreement with
respect to the aforementioned Funds and acceptance to the modification of the
investment management fee for Global Value Choice Fund by signing below where
indicated.
Very sincerely,
By: /s/ Xxxxxxxx X. Xxxxxxxx
------------------------------
Name: Xxxxxxxx X. Xxxxxxxx
Title: Senior Vice President
ING Mutual Funds
ACCEPTED AND AGREED TO:
ING Investments, LLC
By: /s/ Xxxx Xxxxx
----------------------------
Name: Xxxx Xxxxx
Title: Senior Vice President
0000 X. Xxxxxxxxxx Xxxxx Xx. Tel: 000-000-0000 ING Mutual Funds
Scottsdale, AZ 00000-0000 Fax: 000-000-0000
xxx.xxxxxxxx.xxx
AMENDED SCHEDULE A
with respect to the
AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT
between
ING MUTUAL FUNDS
and
ING INVESTMENTS, LLC
Series Annual Investment Management Fee
------ ---------------------------------------------
(as a percentage of average daily net assets)
ING Asia-Pacific Real Estate 1.00% on first $250 million
Fund1 0.90% on next $250 million
0.80% thereafter
ING Disciplined International
SmallCap Fund 0.60%
ING Diversified International
Fund 0.00%
ING Emerging Countries Fund 1.25%
ING Emerging Markets Fixed 0.65% on the first $250 million of assets
Income Fund 0.60% on the next $250 million of assets
0.55% on assets in excess of $500 million
ING European Real Estate Fund/1/ 1.00% on first $250 million
0.90% on next $250 million
0.80% thereafter
ING Global Bond Fund 0.40%
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/1/ The initial two-year terms of ING Asia-Pacific Real Estate Fund and ING
European Real Estate Fund under this Agreement commenced on October 15,
2007.
1
Series Annual Investment Management Fee
------ ---------------------------------------------
(as a percentage of average daily net assets)
ING Global Real Estate Fund 0.80% of the first $250 million of assets
0.775% of the next $250 million of assets
0.70% of assets in excess of $500 million
ING Global Value Choice Fund/2/ 1.00% of the first $250 million of assets
0.90% of the next $250 million of assets
0.80% of the next $500 million of assets
0.75% of assets in excess of $1 billion
ING Greater China Fund 1.15% on the first $100 million of assets
1.05% on the next $150 million of assets
0.95% on assets in excess of $250 million
ING Index Plus International 0.55%
Equity Fund
ING International Capital 0.85% on the first $500 million of assets
Appreciation Fund 0.80% on the next $500 million of assets
0.75% on assets in excess of $1 billion
ING International Equity 0.75%
Dividend Fund
ING International Real Estate 1.00% on the first $250 million of assets
Fund 0.90% on the next $250 million of assets
0.80% on assets in excess of $500 million
ING International SmallCap Fund 1.00% of the first $500 million of assets
0.90% of the next $500 million of assets
0.85% of assets in excess of $1 billion
ING International Value Choice 1.00%
Fund
ING International Value 0.80% on the first $1 billion of assets
Opportunities Fund 0.75% of assets in excess of $1 billion
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/2/ The investment management fees for ING Global Value Choice Fund will
change effective January 2, 2008 to the fees indicated below:
0.90% on the first $500 million
0.80% on the next $500 million
0.75% of assets in excess of $1 billion
2
