EXHIBIT (d)(4)
[On Pilgrim Equity Trust Letterhead]
Xxxxxxx X. Xxxxxx
Senior Vice President
ING Pilgrim Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, XX 00000-0000
November 2, 2001
Pursuant to Section 1 of the Investment Management Agreement dated May 9, 2001
between Pilgrim Equity Trust and ING Pilgrim Investments, LLC (the "Agreement")
we hereby notify you of our intention to retain you as Manager to render
investment advisory services to Pilgrim Principal Protection Fund II, a newly
established series of Pilgrim Equity Trust, upon all of the terms and conditions
set forth in the Agreement. Upon your acceptance, the Agreement has been
modified to give effect to the foregoing by adding the "Pilgrim Principal
Protection Fund II" to Schedule A of the Agreement. The Amended and Restated
Schedule A, with the annual investment management fees indicated for the series,
is attached hereto.
Please signify your acceptance to act as Manager under the Agreement with
respect to Pilgrim Principal Protection Fund II by signing below.
Very Sincerely,
Xxxxxx X. Xxxx
Senior Vice President
Pilgrim Equity Trust
ACCEPTED AND AGREED TO:
ING Pilgrim Investments, LLC
By___________________________
Xxxxxxx X. Xxxxxx
Senior Vice President
FORM OF
AMENDED AND RESTATED
SCHEDULE A
WITH RESPECT TO THE
INVESTMENT MANAGEMENT AGREEMENT
DATED MAY 9, 2001
BETWEEN
PILGRIM EQUITY TRUST
AND
ING PILGRIM INVESTMENTS, LLC
EFFECTIVE NOVEMBER 2, 2001
SERIES ANNUAL INVESTMENT MANAGEMENT FEE
------ --------------------------------
Pilgrim Principal Protection Fund Offering Phase 0.25%
Guarantee Period 0.80%
Index plus LargeCap Period 0.60%
Pilgrim Principal Protection Fund II* Offering Phase 0.25%
Guarantee Period 0.80%
Index plus LargeCap Period 0.60%
--------
* This Amended and Restated Schedule A will be effective with respect to
this Fund upon the effective date of the initial Registration Statement with
respect to the Fund.
