October 1, 2011 ING Equity Trust

Exhibit (d)(10)(vii)

October 1, 2011

ING Equity Trust

0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx

Suite 100

Scottsdale, AZ 85258-2034

Re: Expense Limitations

Ladies and Gentlemen:

By our execution of this letter agreement, intending to be legally bound hereby, ING Investments, LLC (“ING Investments”), the Adviser to ING MidCap Opportunities Fund (the “Fund”), agrees that ING Investments shall, from October 1, 2011 through and including October 1, 2012, waive all or a portion of its investment management fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios of the Fund shall be as follows:

Name of Fund		Maximum Operating Expense Limit (as a percentage of average net assets)
		Class A				Class B				Class C				Class I				Class O				Class W
ING MidCap Opportunities Fund			1.35	%			2.10	%			2.10	%			0.91	%			1.35	%			1.10	%

We are willing to be bound by this letter agreement to lower our fees for the period from October 1, 2011 through and including October 1, 2012. The method of computation to determine the amount of the fee waiver and the definitions as set forth in the Expense Limitation Agreement shall apply. Any fees waived pursuant to this letter agreement shall not be eligible for recoupment. This letter agreement shall terminate upon termination of the Expense Limitation Agreement.

Sincerely,

/s/ Xxxx Xxxxx
Name:		Xxxx Xxxxx
Title:		Senior Vice President

0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx
Suite 100		Tel: 000.000.0000		ING Investments, LLC
Scottsdale, AZ 00000-0000		Fax: 000.000.0000
		xxx.xxxxxxxx.xxx