July 1, 2013 Attention: Mutual Funds - Legal New York, NY 10017 Dear Sir or Madam:
(d)(16)(i)
July 1, 2013
X.X. Xxxxxx Investment Management Inc.
Attention: Mutual Funds - Legal
000 Xxxx Xxxxxx, 0xx Floor
New York, NY 10017
Dear Sir or Madam:
Pursuant to the Sub-Advisory Agreement (the “Agreement”) dated May 13, 2013, between ING Investments, LLC, ING Mutual Funds and X.X. Xxxxxx Investment Management Inc. (the “Sub-Adviser”) we hereby notify you of our intention to retain you as Sub-Adviser to render investment advisory services to ING Multi-Manager International Equity Fund, formerly ING International Growth Fund (the “Fund”), a series of ING Mutual Funds, effective July 1, 2013, 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 Schedule A of the Agreement. The Amended Schedule A is attached hereto.
Please signify your acceptance to act as Sub-Adviser under the Agreement with respect to the Fund by signing below where indicated.
| Very sincerely, | ||
| ING Investments, LLC | ||
| By: | /s/ Xxxx Xxxxx | |
| Xxxx Xxxxx | ||
| Senior Vice President | ||
| ING Mutual Funds | ||
| By: | /s/ Xxxxxx X. Xxxxxx | |
| Name: Xxxxxx X. Xxxxxx | ||
| Title: Senior Vice President | ||
| ACCEPTED AND AGREED TO: X.X. Xxxxxx Investment Management Inc. | ||
| By: | /s/ Xxxxxxx Xxxxxxx | |
| Name: | Xxxxxxx Xxxxxxx | |
| Title: | Vice President, Duly Authorized | |
| 0000 X. Xxxxxxxxxx Xxxxx Xx. Suite 100 Scottsdale, AZ 00000-0000 |
Tel: 000-000-0000 Fax: 000-000-0000 xxx.xxxxxxxx.xxx |
ING Investments, LLC |
AMENDED SCHEDULE A
COMPENSATION FOR SERVICES TO SERIES
For the services provided by X.X. Xxxxxx Investment Management Inc. (the “Sub-Adviser”) to the following Series of ING Mutual Funds, pursuant to the attached Sub-Advisory Agreement, the Manager will pay the Sub-Adviser a fee, computed daily and payable monthly, based on the average daily net assets of the Series at the following annual rates of the average daily net assets of the Series:
| Series | Fees | |
| ING Emerging Markets Equity Fund | 0.50% on first $150 million; 0.45% on next $150 million; and 0.40% on assets over $300 million | |
| ING Multi-Manager International Equity Fund (formerly, ING International Growth Fund) | 0.400% on all assets | |
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