March 1, 2011 ING Mutual Funds Suite 100 Scottsdale, AZ 85258 Ladies and Gentlemen:
(d)(1)(iv)
March 1, 2011
0000 X. Xxxxxxxxxx Xxxxx Xx.
Suite 100
Scottsdale, AZ 85258
Ladies and Gentlemen:
Pursuant to the Sub-Advisory Agreement dated March 1, 2007, as amended, between ING Investments, LLC and Xxxxxxxxxx Global Investors, Inc., sub-adviser to ING International Capital Appreciation Fund (the “Fund”), a series of ING Mutual Funds, the sub-advisory fee rate payable by ING Investments, LLC for the Fund was reduced on August 8, 2009, subject to shareholder approval of the reorganization of ING International Growth Opportunities Fund with and into the Fund.
By our execution of this letter agreement, we hereby notify you of our intention to lower the annual investment management fee for the Fund with a corresponding reduction (the “Reduction”) for the period from March 1, 2011 through and including March 1, 2012. The Reduction shall be calculated as follows:
Reduction = 50% x (the savings to ING Investments, LLC from the August 8, 2009 expense reduction)
Please indicate your agreement to this Reduction by executing below in the place indicated.
|
|
|
Very sincerely, | |
|
|
|
| |
|
|
|
/s/ Xxxx Xxxxx | |
|
|
|
Xxxx Xxxxx | |
|
|
|
Senior Vice President | |
|
|
|
ING Investments, LLC | |
|
|
|
| |
|
Agreed and Accepted: |
|
| |
|
|
| ||
|
(on behalf of the Fund) |
|
| |
|
|
|
| |
|
|
|
| |
|
By: |
/s/ Xxxxxxxx X. Xxxxxxxx |
|
|
|
|
Xxxxxxxx X. Xxxxxxxx |
|
|
|
|
Senior Vice President |
|
|
|
0000 X. Xxxxxxxxxx Xxxxx Xx. |
|
Tel: 000-000-0000 |
|
ING Investments, LLC |
|
Suite 100 |
|
Fax: 000-000-0000 |
|
|
|
Scottsdale, AZ 85258-2034 |
|
|
|
|
