FEE ALLOCATION AGREEMENT
(K)(10)
GLOBAL INDUSTRY CLASSIFICATION STANDARDS SERVICES
GLOBAL INDUSTRY CLASSIFICATION STANDARDS SERVICES FEE ALLOCATION AGREEMENT, made as of May 1, 2007 (the "Agreement"), is entered into by and among the ING Funds listed on Schedule A attached hereto, as amended from time to time (each a "Fund," collectively the "Funds") each acting on its own behalf, and on behalf of its series.
WHEREAS, the Boards of Directors/Trustees of each Fund (the "Board") has authorized the retention of an independent industry classification service provider, Global Industry Classification Standard ("GICS"), to assist in the monitoring of industry classifications and data on behalf of the Funds; and
WHEREAS, ING Funds Services, LLC ("IFS") and ING Funds Distributor, LLC have entered into a GICS License Agreement (the "GICS Agreement") with ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital International, Inc. dated as of the 1st day of May 2007, which sets forth the fees (the "GICS Fees") for the GICS services (the "Services") set forth in the GICS Agreement; and
WHEREAS, the Board has approved allocating 50% of the GICS Fees payable under the GICS Agreement to the Funds; and
WHEREAS, the Funds now desire to establish (i) the criteria by which the GICS Fees shall be allocated among the Funds in connection with the Services to be provided in connection with the GICS Agreement; and (ii) the basis on which additional Funds for may be added to the Agreement.
NOW, THEREFORE, IT IS HEREBY AGREED by and among the Funds as follows:
Section 1. Allocation of GICS Fees
The Funds will pay 50% of the GICS Fees payable under the GICS Agreement. Each Fund shall pay on behalf of itself, and its series, a pro rata portion of the GICS Fees allocated to the Funds.
Section 2. Payment of GICS Fees
The Funds will pay their allocated, respective portion of the GICS Fees as specified in Section 1 above. The GICS Fees will be calculated by IFS and communicated to each Fund annually for payment.
Section 3. Additional Funds
(a)From time to time, new series maybe added, and become subject, to this Agreement immediately upon being added to the GICS Agreement.
(b)Each additional Fund that becomes subject to this Agreement in accordance with Section 3(a) above shall pay a portion of the GICS Fees as described in Sections 1 and 2 above based on
the percentage of such Fund's net assets under management, as of the date such Fund becomes subject to this Agreement.
Section 4. Continuation and Termination
This Agreement shall become effective on the date first written above. It shall continue with respect to a Fund until such Fund is removed from the GICS Agreement; provided, however, that such Fund's portion of the GICS Fees have been paid for the period that the Fund utilized the Services.
This Agreement shall terminate for each and all Funds upon termination of the GICS Agreement; provided, however, that all GICS Fees have been paid for the period that the Funds utilized the Services.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their duly authorized officers as of the date and year first above written.
ON BEHALF OF ALL FUNDS
SET FORTH ON SCHEDULE A
/s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
By: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Senior Vice President
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(K)(10)
SCHEDULE A
ING ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND
ING EQUITY TRUST
ING Financial Services Fund
ING Fundamental Research Fund
ING Index Plus LargeCap Equity Fund
ING Index Plus LargeCap Equity Fund II
ING LargeCap Growth Fund
ING LargeCap Value Fund
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Opportunistic LargeCap Fund
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Principal Protection Fund XII
ING Real Estate Fund
ING SmallCap Opportunities Fund
ING SmallCap Value Choice Fund
ING SmallCap Value Fund
ING Value Choice Fund
ING FUNDS TRUST
ING Classic Money Market Fund
ING GNMA Income Fund
ING High Yield Bond Fund
ING Institutional Prime Money Market Fund
ING Intermediate Bond Fund
ING National Tax-Exempt Bond Fund
ING GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND
ING GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND
ING INVESTMENT FUNDS, INC.
ING MagnaCap Fund
ING INVESTORS TRUST
ING AllianceBernstein Mid Cap Growth
Portfolio1
ING BlackRock Large Cap Growth Portfolio1
ING BlackRock Large Cap Value Portfolio1
ING BlackRock Inflation Protected Bond
Portfolio
ING Capital Guardian U.S. Equities Portfolio1
ING Disciplined Small Cap Value Portfolio
ING EquitiesPlus Portfolio
ING Evergreen Health Sciences Portfolio1
ING Evergreen Omega Portfolio1
ING FMRSM Diversified Mid Cap Portfolio1
ING FMRSM Large Cap Growth Portfolio
ING FMRSM Mid Cap Growth Portfolio1
ING Franklin Income Portfolio
ING Franklin Mutual Shares Portfolio1
ING ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Founding Strategy
Portfolio
ING Global Real Estate Portfolio
ING Global Resources Portfolio1
ING Global Technology Portfolio1
ING International Growth Opportunities
Portfolio1
ING Janus Contrarian Portfolio1
ING JPMorgan Emerging Markets Equity
Portfolio1
ING JPMorgan Small Cap Core Equity
Portfolio1
ING JPMorgan Value Opportunities Portfolio
ING ▇▇▇▇▇▇ ▇▇▇▇ Foreign Portfolio1
ING ▇▇▇▇ ▇▇▇▇▇ Value Portfolio1
ING Limited Maturity Bond Portfolio1
ING Liquid Assets Portfolio1
ING Lord ▇▇▇▇▇▇ Affiliated Portfolio1
ING ▇▇▇▇▇▇▇ Growth Portfolio1
ING ▇▇▇▇▇▇▇ International Opportunities
Portfolio
ING MFS Total Return Portfolio1
1Under the terms of the Management Agreement between ING Investors Trust and Directed Services, LLC, the Fund is subject to a Unified fee arrangement. Accordingly, the portion of SCAS Fees allocated to the Fund under the Agreement will be borne directly by Directed Services, LLC as provided in the Management Agreement.
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ING MFS Utilities Portfolio
ING ▇▇▇▇▇▇▇▇▇▇▇ Main Street Portfolio®1
ING PIMCO Core Bond Portfolio1
ING PIMCO High Yield Portfolio1
ING Pioneer Fund Portfolio1
ING Pioneer Mid Cap Value Portfolio1
ING Stock Index Portfolio1
ING ▇. ▇▇▇▇ Price Capital Appreciation
Portfolio1
ING ▇. ▇▇▇▇ Price Equity Income Portfolio1
ING ▇▇▇▇▇▇▇▇▇ Global Growth Portfolio1
ING UBS U.S. Allocation Portfolio1
ING ▇▇▇ ▇▇▇▇▇▇ Capital Growth Portfolio1
ING ▇▇▇ ▇▇▇▇▇▇ Global Franchise Portfolio1
ING ▇▇▇ ▇▇▇▇▇▇ Growth and Income Portfolio1
ING ▇▇▇ ▇▇▇▇▇▇ Real Estate Portfolio1
ING VP Index Plus International Equity
Portfolio
ING ▇▇▇▇▇ Fargo Disciplined Value Portfolio1
ING ▇▇▇▇▇ Fargo Small Cap Disciplined
Portfolio
ING MAYFLOWER TRUST
ING International Value Fund
ING MUTUAL FUNDS
ING Disciplined International SmallCap Fund
ING Emerging Countries Fund
ING Emerging Markets Fixed Income Fund
ING Foreign Fund
ING Global Bond Fund
ING Global Equity Dividend Fund
ING Global Natural Resources Fund
ING Global Real Estate Fund
ING Global Value Choice Fund
ING Greater China Fund
ING Index Plus International Equity Fund
ING International Capital Appreciation Fund
ING International Growth Opportunities Fund
ING International Real Estate Fund
ING International SmallCap Fund
ING International Value Choice Fund
ING International Value Opportunities Fund
ING Russia Fund
ING PARTNERS, INC.
ING American Century Large Company Value
Portfolio
ING American Century Small-Mid Cap Value
Portfolio
ING Baron Asset Portfolio
ING Baron Small Cap Growth Portfolio
ING Columbia Small Cap Value II Portfolio
ING ▇▇▇▇▇ Venture Value Portfolio
ING Fidelity® VIP Contrafund® Portfolio
ING Fidelity® VIP Equity-Income Portfolio
ING Fidelity® VIP Growth Portfolio
ING Fidelity® VIP Mid Cap Portfolio
ING Fundamental Research Portfolio
ING JPMorgan International Portfolio
ING JPMorgan Mid Cap Value Portfolio
ING ▇▇▇▇ ▇▇▇▇▇ Partners Aggressive Growth
Portfolio
ING ▇▇▇▇ ▇▇▇▇▇ Partners Large Cap Growth
Portfolio
ING Lord ▇▇▇▇▇▇ U.S. Government Securities
Portfolio
ING ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Partners Portfolio
ING ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Regency Portfolio
ING OpCap Balanced Value Portfolio
ING ▇▇▇▇▇▇▇▇▇▇▇ Global Portfolio
ING ▇▇▇▇▇▇▇▇▇▇▇ Strategic Income Portfolio
ING PIMCO Total Return Portfolio
ING Pioneer High Yield Portfolio
ING ▇. ▇▇▇▇ Price Diversified Mid Cap Growth
Portfolio
ING ▇. ▇▇▇▇ Price Growth Equity Portfolio
ING ▇▇▇▇▇▇▇▇▇ Foreign Equity Portfolio
ING ▇▇▇▇▇▇▇▇▇ Value Portfolio
ING UBS U.S. Large Cap Equity Portfolio
ING UBS U.S. Small Cap Growth Portfolio
ING ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Portfolio
ING ▇▇▇ ▇▇▇▇▇▇ Equity and Income Portfolio
ING PRIME RATE TRUST
ING RISK MANAGED NATURAL
RESOURCES FUND
ING SENIOR INCOME FUND
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ING VARIABLE INSURANCE TRUST ING GET U.S. Core Portfolio - Series 1 ING GET U.S. Core Portfolio - Series 2 ING GET U.S. Core Portfolio - Series 3 ING GET U.S. Core Portfolio - Series 4 ING GET U.S. Core Portfolio - Series 5 ING GET U.S. Core Portfolio - Series 6 ING GET U.S. Core Portfolio - Series 7 ING GET U.S. Core Portfolio - Series 8 ING GET U.S. Core Portfolio - Series 9 ING GET U.S. Core Portfolio – Series 10 ING GET U.S. Core Portfolio – Series 11 ING GET U.S. Core Portfolio – Series 12 ING GET U.S. Core Portfolio – Series 13 ING GET U.S. Core Portfolio – Series 14 ING VP Global Equity Dividend Portfolio
ING VARIABLE PRODUCTS TRUST
ING VP Financial Services Portfolio
ING VP High Yield Bond Portfolio
ING VP International Value Portfolio
ING ▇▇ ▇▇▇▇▇▇ Opportunities Portfolio
ING VP Real Estate Portfolio
ING VP SmallCap Opportunities Portfolio
ING GET FUND
ING GET Fund – Series Q
ING GET Fund – Series R
ING GET Fund – Series S
ING GET Fund – Series T
ING GET Fund – Series U
ING GET Fund – Series V
ING SERIES FUND, INC.
Brokerage Cash Reserves
ING 130/30 Fundamental Research Fund
ING Balanced Fund
ING Global Science and Technology Fund
ING Growth Fund
ING Growth and Income Fund
ING Index Plus LargeCap Fund
ING Index Plus MidCap Fund
ING Index Plus SmallCap Fund
ING International Equity Fund
ING Money Market Fund
ING Small Company Fund
ING Strategic Allocation Conservative Fund
ING Strategic Allocation Growth Fund
ING Strategic Allocation Moderate Fund
ING STRATEGIC ALLOCATION
PORTFOLIOS, INC.
ING VP Strategic Allocation Conservative
Portfolio
ING VP Strategic Allocation Growth Portfolio
ING VP Strategic Allocation Moderate Portfolio
ING VARIABLE FUNDS
ING VP Growth and Income Portfolio
ING VARIABLE PORTFOLIOS, INC.
ING VP Global Science and Technology
Portfolio
ING VP Growth Portfolio
ING VP Index Plus LargeCap Portfolio
ING VP Index Plus MidCap Portfolio
ING VP Index Plus SmallCap Portfolio
ING VP International Equity Portfolio
ING VP Small Company Portfolio
ING VP Value Opportunity Portfolio
ING VP BALANCED PORTFOLIO, INC.
ING VP INTERMEDIATE BOND
PORTFOLIO
ING VP MONEY MARKET PORTFOLIO
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