d)(6)(iv) [LOGO] July 31, 2007 Michael Quain Julius Baer Investment Management, Inc. 330 Madison Avenue, New York, NY 10017 Dear Mr. Quain: Pursuant to the Sub-Advisory Agreement dated May 28, 2003, as amended, between ING Investments, LLC and Julius...

                                                                     (d)(6)(iv)

[LOGO]

July 31, 2007

Xxxxxxx Xxxxx
Xxxxxx Xxxx Investment Management, Inc.
000 Xxxxxxx Xxxxxx,
Xxx Xxxx, XX 00000

Dear Xx. Xxxxx:

   Pursuant to the Sub-Advisory Agreement dated May 28, 2003, as amended,
between ING Investments, LLC and Xxxxxx Xxxx Investment Management, Inc. (the
"Agreement") we hereby notify you of our intention to modify the fees payable
to the Sub-Adviser for ING Foreign Fund, a series of ING Mutual Funds (the
"Fund"), effective July 31, 2007. Upon your acceptance, the Agreement will be
modified to give effect to the foregoing by amending the Amended Schedule A of
the Agreement. The Amended Schedule A, with the annual sub-advisory fees
indicated for the Fund, is attached to this letter.

   Please signify your acceptance to the modification of the sub-advisory fee
for the Fund by signing below where indicated.

                                           Very sincerely,

                                           By:    /s/ Xxxx Xxxxx
                                                  ------------------------------
                                           Name:  Xxxx Xxxxx
                                           Title: Senior Vice President
                                                  ING Investments, LLC

ACCEPTED AND AGREED TO:
Xxxxxx Xxxx Investment
Management, Inc.

By:    /s/ XX Xxxxxxxx
       --------------------------
Name:  XX Xxxxxxxx
Title: illegible , Duly
       Authorized

0000 X. Xxxxxxxxxx Xxxxx Xx.     Tel: 000-000-0000        ING Investments, LLC
Scottsdale, AZ 00000-0000        Fax: 000-000-0000
                                 xxx.xxxxxxxx.xxx



                              AMENDED SCHEDULE A

                              with respect to the

                            SUB-ADVISORY AGREEMENT

                                    between

                             ING INVESTMENTS, LLC

                                      and

                    XXXXXX XXXX INVESTMENT MANAGEMENT, INC.

Series                                   Annual Sub-Adviser Fee
------                     ----------------------------------------------------
                              (as a percentage of average daily net assets)

ING Foreign Fund                       0.45% on first $500 million;

                              when assets are greater than or equal to $500
                           million, the fee schedule resets as indicated below:

                                           0.40% on all assets*

* For purposes of calculating fees under this Agreement, the assets of the
  series shall be aggregated with the assets of ING Xxxxxx Xxxx Foreign
  Portfolio, which is not a party to this Agreement. The aggregated assets will
  be applied to the above schedule and the resulting fee shall be prorated back
  to the series and their respective Adviser based on relative net assets.