June 1, 2008 David Makowicz Chief Operating Officer ING Clarion Real Estate Securities
Exhibit
77(e)(4)
June 1,
2008
Xxxxx
Xxxxxxxx
Chief
Operating Officer
ING
Clarion Real Estate Securities
000 Xxxxx
Xxxxxx-Xxxxxxx Xxxx
Suite
205
Radnor,
PA 19087
Dear Xx.
Xxxxxxxx:
Pursuant
to the Sub-Advisory Agreement dated January 3, 2006 between ING Investments, LLC
and ING Clarion Real Estate Securities L.P., as amended, (the “Agreement”), we
hereby notify you of our intention to modify the annual sub-adviser fee for ING
Global Real Estate Portfolio (the “Portfolio”), effective June 1, 2008, 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
amending Schedule
A of the Agreement. The Amended
Schedule A, with the annual sub-adviser fee indicated for the Portfolio,
is attached hereto.
Please
signify your acceptance to the modified sub-adviser fee with respect to the
Portfolio by signing below where indicated.
Very
sincerely,
/s/ Xxxx
Xxxxx
Xxxx
Xxxxx
Senior
Vice President
ING
Investments, LLC
ACCEPTED
AND AGREED TO:
ING
Clarion Real Estate Securities L.P.
By: /s/ X. Xxxxxx
Xxxxxxxx
Name: X. Xxxxxx
Xxxxxxxx
Title: CIO ,
Duly Authorized
|
0000
X. Xxxxxxxxxx Xxxxx Xx.
Scottsdale,
AZ 00000-0000
|
Tel:
000-000-0000
Fax:
000-000-0000
xxx.xxxxxxxx.xxx
|
ING
Investments, LLC
|
AMENDED
SCHEDULE A
with
respect to the
between
ING
INVESTMENTS, LLC
and
ING
CLARION REAL ESTATE SECURITIES L.P.
|
Series
|
Annual Sub-Adviser
Fee
(as
a percentage of average
daily
net assets)
|
|
ING
Global Real Estate Portfolio
|
0.400%
on first $200 million of assets;
0.350%
on next $550 million of assets; and
0.300%
on assets in excess of $750 million
|
