Exhibit 99.B-(2)(G)(ii)(a)
FORM OF
[Insert IIMBV letterhead]
_______________, 2005
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, Xxxxxxx 00000
RE: Sub-Advisory Fee Waiver
Ladies and Gentlemen:
ING Investments, LLC ("ING Investments") and ING Investment Management Advisors,
B.V. ("IIMBV") are parties to a Sub-Advisory Agreement dated _______, 2005 (the
"Agreement") under which ING Investments has agreed to pay to IIMBV an annual
sub-advisory fee in the amount of 0.69%, as a percentage of average daily net
assets of ING Global Equity Dividend and Premium Opportunity Fund. By this
letter, XXXXX hereby voluntarily waives a portion of the annual sub-advisory fee
that it is entitled to receive as follows:
IIMBV will waive twelve (12) basis points from the sub-advisory fee payable by
ING Investments for a period of five years, commencing on the date of the
Agreement. For the next four years ending on [April 1, 2013], the amount of the
fee waiver will decrease by three (3) basis points per year, as reflected in the
post-waiver sub-advisory fee reflected in the schedule set out below.
TIME PERIOD ANNUAL SUB-ADVISORY FEE
----------- -----------------------
(AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS)
[3/29/05 through 4/1/2010 0.57%
4/2/2010 through 4/1/2011 0.60%
4/2/2011 through 4/1/2012 0.63%
4/2/2012 through 4/1/2013 0.66%
4/2/2013 and thereafter] 0.69%
This letter agreement shall terminate upon the termination of the Agreement.
Sincerely,
X.X. Xxxxxxx
Managing Director
