EXHIBIT (d)(2)(i)
[ING FUNDS LOGO]
February 25, 2004
Xxxxxxx X. Xxxxxx
Executive Vice President
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, XX 00000
Dear Xx. Xxxxxx:
Pursuant to the Investment Management Agreement dated May 9, 2001, as
amended, between ING Equity Trust and ING Investments, LLC (the "Agreement") we
hereby notify you of our intention to retain you as Manager to render investment
advisory services to ING Principal Protection Fund X and ING Principal
Protection Fund XI, two newly established series of ING Equity Trust (the
"Funds"), 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 adding the above-mentioned Funds to AMENDED AND RESTATED SCHEDULE A of the
Agreement. The AMENDED AND RESTATED SCHEDULE A, with the annual investment
management fee indicated for the Funds, is attached hereto.
Please signify your acceptance to act as Manager under the Agreement
with respect to the aforementioned Funds.
Very sincerely,
/s/ Xxxxxx X. Naka
Xxxxxx X. Naka
Senior Vice President
ING Equity Trust
ACCEPTED AND AGREED TO:
ING Investments, LLC
By: /s/ Xxxxxxx X. Xxxxxx
-------------------------
Xxxxxxx X. Xxxxxx
Executive 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 AND RESTATED
SCHEDULE A
WITH RESPECT TO THE
INVESTMENT MANAGEMENT AGREEMENT
BETWEEN
ING EQUITY TRUST
AND
ING INVESTMENTS, LLC
ANNUAL INVESTMENT MANAGEMENT FEE
SERIES ---------------------------------------------
------ (AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS)
ING Principal Protection Fund Offering Phase 0.25%
Guarantee Period 0.80%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund II Offering Phase 0.25%
Guarantee Period 0.80%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund III Offering Phase 0.25%
Guarantee Period 0.80%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund IV Offering Phase 0.25%
Guarantee Period 0.80%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund V Offering Phase 0.25%
Guarantee Period 0.80%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund VI Offering Phase 0.25%
Guarantee Period 0.80%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund VII Offering Phase 0.25%
Guarantee Period 0.80%
Index Plus LargeCap Period 0.60%
ANNUAL INVESTMENT MANAGEMENT FEE
SERIES ---------------------------------------------
------ (AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS)
ING Principal Protection Fund VIII Offering Phase 0.25%
Guarantee Period:
- Equity Component 0.80%
- Fixed Component 0.55%
- ETF & Futures Strategy
in lieu of Equity Strategy 0.55%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund IX Offering Phase 0.25%
Guarantee Period:
- Equity Component 0.80%
- Fixed Component 0.55%
- ETF & Futures Strategy
in lieu of Equity Strategy 0.55%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund X Offering Phase 0.25%
Guarantee Period:
- Equity Component 0.80%
- Fixed Component 0.55%
- ETF & Futures Strategy
in lieu of Equity Strategy 0.55%
Index Plus LargeCap Period 0.60%
ING Principal Protection Fund XI Offering Phase 0.25%
Guarantee Period:
- Equity Component 0.80%
- Fixed Component 0.55%
- ETF & Futures Strategy
in lieu of Equity Strategy 0.55%
Index Plus LargeCap Period 0.60%