Exhibit 99.B(d)(2)(iii)
[ING FUNDS LOGO]
December 5, 2005
Xxxxxxx Xxxxxxx
Senior Vice President
ING Investment Management Co.
00 Xxxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000-0000
Dear Xx. Xxxxxxx:
Pursuant to the Sub-Advisory Agreement dated March 1, 2002 between ING
Investments, LLC and ING Investment Management Co., as amended (the
"Agreement"), we hereby modify the fees payable to the Sub-Adviser for ING
Balanced Fund (the "Fund"). Upon your acceptance, the Agreement will be modified
to give effect to the foregoing as indicated on AMENDED SCHEDULE A of the
Agreement. The AMENDED SCHEDULE A, with the annual sub-advisory fees indicated
for the Fund, is attached hereto.
AMENDED SCHEDULE A has also been updated by the removal of ING Growth
and Income Fund and the removal of ING Bond Fund, ING Classic Principal
Protection Fund, ING Classic Principal Protection Fund II, and ING Classic
Principal Protection Fund III as these funds recently dissolved.
Please signify your acceptance of the modified fees for the Fund by
signing below where indicated.
Very sincerely,
/s/ Xxxx Xxxxx
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
ACCEPTED AND AGREED TO:
ING Investment Management Co.
By: /s/ Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
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Title: SVP and CFO, Duly Authorized
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0000 X. Xxxxxxxxxx Xxxxx Xx. Tel: 000-000-0000 ING Investments, LLC
Scottsdale, AZ 00000-0000 Fax: 000-000-0000
xxx.xxxxxxxx.xxx
AMENDED SCHEDULE A
WITH RESPECT TO THE
SUB-ADVISORY AGREEMENT
BETWEEN
ING INVESTMENTS, LLC
AND
ING INVESTMENT MANAGEMENT CO.
(FORMERLY AELTUS INVESTMENT MANAGEMENT, INC.)
SERIES ANNUAL SUB-ADVISORY FEE
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Brokerage Cash Reserves 0.090% on first $1 billion
0.086% on next $2 billion
0.081% over $3 billion
ING Aeltus Money Market Fund 0.180% on first $500 million
0.158% on next $500 million
0.153% on next $1 billion
0.149% on next $1 billion
0.135% over $3 billion
ING Balanced Fund 0.338% on first $500 million
0.304% on next $500 million
0.293% over $1 billion
ING Classic Principal Protection Fund IV 0.293%
ING Government Fund 0.225% on first $250 million
0.214% on next $250 million
0.203% on next $250 million
0.191% on next $1.25 billion
0.180% over $2 billion
ING Growth Fund 0.315% on first $250 million
0.293% on next $250 million
0.281% on next $250 million
0.270% on next $1.25 billion
0.248% over $2 billion
2
SERIES ANNUAL SUB-ADVISORY FEE
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ING Index Plus LargeCap Fund 0.203% on first $500 million
0.191% on next $250 million
0.180% on next $1.25 billion
0.169% over $2 billion
ING Index Plus MidCap Fund 0.203% on first $500 million
0.191% on next $250 million
0.180% on next $1.25 billion
0.169% over $2 billion
ING Index Plus Protection Fund 0.293% Guarantee Period
0.203% Index Plus LargeCap Period
ING Index Plus SmallCap Fund 0.203% on first $500 million
0.191% on next $250 million
0.180% on next $1.25 billion
0.169% over $2 billion
ING International Growth Fund 0.383% on first $250 million
0.360% on next $250 million
0.349% on next $250 million
0.338% on next $1.25 billion
0.315% over $2 billion
ING Small Company Fund 0.383% on first $250 million
0.360% on next $250 million
0.349% on next $250 million
0.338% on next $1.25 billion
0.326% over $2 billion
ING Strategic Allocation Balanced Fund 0.360% on first $500 million
0.349% on next $500 million
0.338% on next $500 million
0.326% on next $500 million
0.315% over $2 billion
3
SERIES ANNUAL SUB-ADVISORY FEE
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ING Strategic Allocation Growth Fund 0.360% on first $500 million
0.349% on next $500 million
0.338% on next $500 million
0.326% on next $500 million
0.315% over $2 billion
(2)ING Strategic Allocation Income Fund 0.360% on first $500 million
0.349% on next $500 million
0.338% on next $500 million
0.326% on next $500 million
0.315% over $2 billion
ING Value Opportunity Fund 0.315% on first $250 million
0.293% on next $250 million
0.281% on next $250 million
0.270% on next $1.25 billion
0.248% over $2 billion
4
