EXHIBIT (d)(17)
[ING EQUITY TRUST LETTERHEAD]
Xxxxxxx X. Xxxxxx
Executive Vice President
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, XX 00000-0000
August 20, 2002
Pursuant to Section 1 of the Investment Management Agreement dated May
9, 2001, as amended, between ING Equity Trust (formerly Pilgrim Equity Trust)
and ING Investments, LLC (successor by merger to ING Pilgrim 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 V, a
newly established series of ING Equity Trust, upon all of the terms and
conditions set forth in the Agreement. Upon your acceptance, the Agreement has
been modified to give effect to the foregoing by adding the "ING Principal
Protection Fund V" to Schedule A of the Agreement. The Amended and Restated
Schedule A, with the annual investment management fee indicated for the series,
is attached hereto.
Please signify your acceptance to act as Manager under the Agreement
with respect to ING Principal Protection Fund V by signing below.
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
AMENDED AND RESTATED
SCHEDULE A
WITH RESPECT TO THE
INVESTMENT MANAGEMENT AGREEMENT
BETWEEN
ING EQUITY TRUST
(FORMERLY PILGRIM EQUITY TRUST)
AND
ING INVESTMENTS, LLC
AN ARIZONA LIMITED LIABILITY COMPANY
(SUCCESSOR BY MERGER TO ING PILGRIM INVESTMENTS, LLC)
ANNUAL INVESTMENT
SERIES MANAGEMENT FEE APPROVED BY BOARD REAPPROVAL DATE
------ -------------- ----------------- ---------------
ING Principal Offering Phase 0.25% May 9, 2001 May 9, 2003
Protection Fund Guarantee Period 0.80%
Index Plus
LargeCap Period 0.60%
ING Principal Offering Phase 0.25% November 2, 2001 September 1, 2003
Protection Fund II Guarantee Period 0.80%
Index Plus
LargeCap Period 0.60%
ING Principal Offering Phase 0.25% February 26, 2002 September 1, 2003
Protection Guarantee Period 0.80%
Fund III Index Plus
LargeCap Period 0.60%
ING Principal Offering Phase 0.25% May 24, 2002 September 1, 2003
Protection Guarantee Period 0.80%
Fund IV Index Plus
LargeCap Period 0.60%
ING Principal Offering Phase 0.25% August 20, 2002 September 1, 2003
Protection Guarantee Period 0.80%
Fund V* Index Plus
LargeCap Period 0.60%
----------------------
* This Amended and Restated Schedule A will be effective with respect to
the Fund upon the effective date of the initial Registration Statement
with respect to the Fund.
