EXHIBIT (d)(26)
[ING FUNDS LETTERHEAD]
August 21, 2003
Xxxx Xxx Xxxxxxxxx
Senior Vice President
Aeltus Investment Management, Inc.
00 Xxxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000-0000
Dear Xx. Xxxxxxxxx:
Pursuant to Section 1 of the Sub-Adviser Agreement dated May 9, 2001,
as amended, between ING Investments, LLC (successor by merger to ING Pilgrim
Investments, LLC) and Aeltus Investment Management, Inc. (the "Agreement") we
hereby notify you of our intention to retain you as Sub-Adviser to render
investment advisory services to ING Principal Protection Fund VIII and ING
Principal Protection Fund IX, two newly established series of ING Equity Trust
(the "New Series"), 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 above-mentioned New Series to Schedule A of the
Agreement. The Amended and Restated Schedule A, with the annual investment
management fees indicated for each series, is attached hereto.
Please signify your acceptance to act as Sub-Adviser under the
Agreement with respect to the New Series by signing below.
Very sincerely,
-s- Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Executive Vice President
ING Investments, LLC
ACCEPTED AND AGREED TO:
Aeltus Investment Management, Inc.
By -s- Xxxx Xxx Xxxxxxxxx
------------------------
Xxxx Xxx Xxxxxxxxx
Senior Vice President
FIRST AMENDMENT TO AMENDED AND RESTATED
SCHEDULE A
WITH RESPECT TO THE
SUB-ADVISER AGREEMENT
BETWEEN
ING INVESTMENTS, LLC
AN ARIZONA LIMITED LIABILITY COMPANY
(SUCCESSOR BY MERGER TO ING PILGRIM INVESTMENTS, LLC)
AND
AELTUS INVESTMENT MANAGEMENT, INC.
SERIES* ANNUAL SUB-ADVISER FEE
------ ----------------------
ING Principal Protection Offering Phase 0.125%
Fund Guarantee Period 0.40%
Index Plus
LargeCap Period 0.30%
ING Principal Protection Offering Phase 0.125%
Fund II Guarantee Period 0.40%
Index Plus
LargeCap Period 0.30%
ING Principal Protection Offering Phase 0.125%
Fund III Guarantee Period 0.40%
Index Plus
LargeCap Period 0.30%
ING Principal Protection Offering Phase 0.125%
Fund IV Guarantee Period 0.40%
Index Plus
LargeCap Period 0.30%
ING Principal Protection Offering Phase 0.125%
Fund V Guarantee Period 0.40%
Index Plus
LargeCap Period 0.30%
ING Principal Protection Offering Phase 0.125%
Fund VI Guarantee Period 0.40%
Index Plus
LargeCap Period 0.30%
* This Schedule A to the Sub-Advisory Agreement will be effective with respect
to the Series upon the effective date of the post effective amendment to the
Trust's Registration Statement with respect to each Series.
SERIES* ANNUAL SUB-ADVISER FEE
ING Principal Protection Offering Phase 0.1125%
Fund VII Guarantee Period 0.36%
Index Plus
LargeCap Period 0.27%
ING Principal Protection Offering Phase 0.1125%
Fund VIII Guarantee Period:
- Equity Component 0.36%
- Fixed Component 0.2475%
- ETF & Futures Strategy in lieu of
Equity Strategy 0.2475%
Index Plus
LargeCap Period 0.27%
ING Principal Protection Offering Phase 0.1125%
Fund IX Guarantee Period:
- Equity Component 0.36%
- Fixed Component 0.2475%
- ETF & Futures Strategy in lieu of
Equity Strategy 0.2475%
Index Plus
LargeCap Period 0.27%
* This Schedule A to the Sub-Advisory Agreement will be effective with respect
to the Series upon the effective date of the post effective amendment to the
Trust's Registration Statement with respect to each Series.
