[GRAPHIC]
(d)(1)(ii)
March 29, 2007
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, XX 00000
Dear Xx. Xxxxx:
Pursuant to the Second Amended and Restated Investment Management Agreement
dated February 1, 2005, as amended, between ING Equity Trust and ING
Investments, LLC (the "Agreement") we hereby notify you of our intention to
modify the annual investment management fee for ING SmallCap Value Choice Fund
(the "Fund"), effective March 29, 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 amending the Amended Schedule A of
the Agreement. The Amended Schedule A, with the annual investment management
fee indicated for the Fund, is attached hereto.
Amended Schedule A has also been updated 1) to reflect a name change for ING
MidCap Value Choice Fund to ING Value Choice Fund, and 2) by the removal of ING
Disciplined LargeCap Fund as this fund recently merged into another fund.
Please signify your acceptance to the modification of the investment
management fee for the Fund by signing below where indicated.
Very sincerely,
/s/ Xxxxxx X. Xxxx
------------------------------
Xxxxxx X. Xxxx
Executive Vice President
ING Equity Trust
ACCEPTED AND AGREED TO:
ING Investments, LLC
By: /s/ Xxxx Xxxxx
--------------------------
Xxxx Xxxxx
Senior Vice President
0000 X. Xxxxxxxxxx Xxxxx Xx. Tel: 000-000-0000 ING Equity Trust
Scottsdale, AZ 00000-0000 Fax: 000-000-0000
xxx.xxxxxxxx.xxx
AMENDED SCHEDULE A
with respect to the
SECOND AMENDED AND RESTATED
INVESTMENT MANAGEMENT AGREEMENT
between
ING EQUITY TRUST
and
ING INVESTMENTS, LLC
Series Annual Investment Management Fee
------ ---------------------------------------------
(as a percentage of average daily net assets)
ING Fundamental Research Fund 0.70% on first $500 million of assets
0.65% on next $500 million of assets
0.60% thereafter
ING LargeCap Value Fund 0.90% on first $50 million of assets
0.85% on next $450 million of assets
0.80% thereafter
ING MidCap Opportunities Fund 1.00% on first $500 million of assets
0.90% thereafter
ING MidCap Value Fund 1.00% on first $50 million of assets
0.90% thereafter
ING Opportunistic LargeCap Fund 0.70% on first $500 million of assets
0.65% on next $500 million of assets
0.60% thereafter
ING Real Estate Fund 0.70%
ING SmallCap Opportunities Fund 1.00% of the first $100 million of assets
0.90% of the next $150 million of assets
0.80% of the next $250 million of assets
0.75% of assets in excess of $500 million
1
Series Annual Investment Management Fee
------ ---------------------------------------------
(as a percentage of average daily net assets)
ING SmallCap Value Choice Fund With respect to assets for which investment
sub-advisory services are provided by an
investment adviser other than ING Investment
Management Co. - 1.00%
With respect to assets for which investment
sub-advisory services are provided by ING
Investment Management Co - 0.75%
ING SmallCap Value Fund 1.00% on first $50 million of assets
0.90% thereafter
ING Value Choice Fund 1.00%
2
