Exhibit 99.B(2)(G)(i)(a)
[ING FUNDS LOGO]
March 28, 2005
ING Global Equity Dividend and Premium Opportunity Fund
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, Xxxxxxx 00000
RE: Management Xxx Xxxxxx
Ladies and Gentlemen:
ING Global Equity Dividend and Premium Opportunity Fund (the "Fund") and ING
Investments, LLC ("ING Investments") are parties to an Investment Management
Agreement dated March 28, 2005 (the "Agreement") under which the Fund has agreed
to pay to ING Investments an annual investment management fee in the amount of
1.05%, as a percentage of Managed Assets (as defined in the Agreement) of the
Fund. By this letter, ING Investments hereby voluntarily waives a portion of the
annual investment management fee that it is entitled to receive as follows:
ING Investments will waive twenty (20) basis points from the investment
management fee payable by the Fund 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 five (5) basis points per year, as
reflected in the post-waiver management fee reflected in the schedule set out
below.
TIME PERIOD ANNUAL INVESTMENT MANAGEMENT FEE
----------- -----------------------------------
(as a percentage of Managed Assets)
3/28/05 through 4/1/2010 0.85%
4/2/2010 through 4/1/2011 0.90%
4/2/2011 through 4/1/2012 0.95%
4/2/2012 through 4/1/2013 1.00%
4/2/2013 and thereafter 1.05%
This letter agreement shall terminate upon the termination of the Agreement.
Sincerely,
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Executive Vice President
0000 X. Xxxxxxxxxx Xxxxx Xx. Tel: 000-000-0000 ING Investments, LLC
Scottsdale, AZ 00000-0000 Fax: 000-000-0000
