Exhibit (d)(2)(O)(iii)
[ING FUNDS LOGO]
April 29, 2005
Xxxxx X. Xxxxxxxxxx, Esq.
UBS Global Asset Management (Americas) Inc.
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000-0000
Dear Xx. Xxxxxxxxxx:
Pursuant to Sections 6 and 17 of the Portfolio Management Agreement dated
May 1, 2003, among ING Investors Trust, Directed Services, Inc. and UBS Global
Asset Management (Americas) Inc. (the "Agreement") we hereby modify the fees
payable to the Portfolio Manager for ING UBS U.S. Allocation Portfolio (formerly
ING UBS U.S. Balanced Portfolio) (the "Portfolio"), effective April 29, 2005.
Upon your acceptance, the Agreement will be modified to reflect the fee
changes to the annual portfolio management fees for the Portfolio as indicated
on AMENDED SCHEDULE B of the Agreement. The AMENDED SCHEDULE B, with the annual
portfolio management fees indicated for the Portfolio, is attached hereto.
Please signify your acceptance of the modified fees under the Agreement
with respect to the Portfolio by signing below.
Very sincerely,
/s/ Xxxxxx X. Xxxx
------------------
Xxxxxx X. Xxxx
Senior Vice President
ING Investors Trust
ACCEPTED AND AGREED TO:
UBS Global Asset Management (Americas) Inc.
By: /s/ Xxxx X. Xxxxxx/ /s/ Xxxx X. Xxxxxxx
---------------------------------------
Name: Xxxx X. Xxxxxx/ Xxxx X. Xxxxxxx
-------------------------------
Title: Secretary/Director, Duly Authorized
-----------------------------------
0000 X. Xxxxxxxxxx Xxxxx Xx. Tel: 000-000-0000 ING Investors Trust
Scottsdale, AZ 00000-0000 Fax: 000-000-0000
xxx.xxxxxxxx.xxx
AMENDED SCHEDULE B
COMPENSATION FOR SERVICES TO SERIES
For the services provided by UBS Global Asset Management (Americas) Inc.
(the "Portfolio Manager") to the following Series of ING Investors Trust,
pursuant to the attached Portfolio Management Agreement, the Manager will pay
the Portfolio Manager a fee, computed daily and payable monthly, based on the
average daily net assets of the Series at the following annual rates of the
average daily net assets of the Series:
SERIES RATE
------ ----
ING UBS U.S. Allocation Portfolio 0.40% on first $100 million;
0.35% on next $200 million;
0.30% on next $200 million; and
0.25% thereafter
If this Agreement becomes effective or terminates before the end of any
month, the fee for the period from the effective date to the end of the month or
from the beginning of such month to the date of termination, as the case may be,
shall be prorated according to the proportion that such period bears to the full
month in which such effectiveness or termination occurs.
2
