Exhibit (d)(2)(L)(v)
AMENDMENT TO PORTFOLIO MANAGEMENT AGREEMENT
AMENDMENT made as of this 1st day of June, 2005 to the Portfolio Management
Agreement dated as of May 1, 2002, as amended (the "AGREEMENT"), between ING
Investors Trust, a Massachusetts business trust (the "TRUST"), Directed
Services, Inc. a New York corporation (the "MANAGER"), and Xxxxxx Xxxxxxx
Investment Management Inc., a Delaware corporation, d/b/a Xxx Xxxxxx (the
"PORTFOLIO MANAGER").
WITNESSETH:
WHEREAS, the Trust, Manager and Portfolio Manager are parties to the
Agreement; and WHEREAS, the parties wish to amend the Agreement as set forth
below. THEREFORE, in consideration of the mutual covenants contained herein, the
parties agree to amend the Agreement as follows:
1. SCHEDULE B of the Agreement is hereby deleted and replaced with the AMENDED
SCHEDULE B attached hereto.
2. Capitalized terms used herein and not otherwise defined shall have the
meanings ascribed to them in the Agreement.
3. In all other respects, the Agreement is confirmed and remains in full force
and effect.
4. This Amendment shall become effective as of the date first written above.
AGREED AND ACCEPTED BY:
ING INVESTORS TRUST XXXXXX XXXXXXX INVESTMENT
MANAGMENT INC. D/B/A VAN
By: /s/ Xxxxxx X. Naka KAMPEN
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Name: Xxxxxx X. Naka By: /s/ Xxxxxxx Xxxxx
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Title: SVP Name: Xxxxxxx Xxxxx
---- Title: Managing Director
DIRECTED SERVICES, INC.
By: /s/ Xxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxxxxx
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Title: General Counsel and Secretary
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AMENDED SCHEDULE B
COMPENSATION FOR SERVICES TO SERIES
For the services provided by Xxxxxx Xxxxxxx Investment Management, Inc.
("Portfolio Manager") to the following Series of ING Investors Trust (formerly
The GCG Trust), pursuant to the attached Portfolio Management Agreement, the
Manager will pay the Portfolio Manager a fee, computed daily and payable
monthly, based on the average daily net assets of the Series at the following
annual rates of the average daily net assets of the Series:
SERIES RATE
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ING Xxx Xxxxxx Equity Growth Portfolio(1) 0.35% on first $2 billion;
0.32% on next $1 billion; and
0.30% thereafter
ING Xxx Xxxxxx Global Franchise Portfolio 0.65% on first $150 million;
0.55% on next $150 million;
0.45% on next $200 million; and
0.40% thereafter
ING Xxx Xxxxxx Growth and Income Portfolio 0.50% on first $100 million;
0.40% on next $100 million;
0.30% on next $100 million;
0.25% on next $700 million; and
0.20% thereafter
ING Xxx Xxxxxx Real Estate Portfolio 0.50% on first $200 million; and
0.40% thereafter
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(1) For purposes of calculating fees under this Agreement, the assets of the
Series shall be aggregated with the assets of ING Xxx Xxxxxx Xxxxxxxx
Portfolio, a series of ING Partners, Inc., 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 each Series and its respective
Adviser/Manager based on relative net assets.
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