April 28, 2008 Todd Modic Senior Vice President ING Investments, LLC Scottsdale, AZ 85258 Dear Mr. Modic:
Exhibit 99.B(d)(1)(b)(iii)
April 28, 2008
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Scottsdale, AZ 85258
Dear Xx. Xxxxx:
Pursuant to the Investment Management Agreement dated August 21, 2003, as amended, between ING Investors Trust and ING Investments, LLC (the “Agreement”), we hereby notify you of our intention to retain you as Manager to render investment advisory services to ING American Funds Asset Allocation Portfolio (the “Portfolio”), a newly established series of ING Investors Trust, effective April 28, 2008, upon all of the terms and conditions set forth in the Agreement. Upon your acceptance, the Agreement will be modified to give effect to the foregoing by adding the Portfolio to the Amended Schedule A of the Agreement. The Amended Schedule A, with the annual investment management fee indicated for the Portfolio, is attached to the letter.
Please signify your acceptance to act as Manager under the Agreement with respect to the Portfolio.
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Very sincerely, |
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/s/ Xxxxxxxx X. Xxxxxxxx |
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By: |
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Name: |
Xxxxxxxx X. Xxxxxxxx |
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Title: |
Senior Vice President |
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ACCEPTED AND AGREED TO: |
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ING Investments, LLC |
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By: |
/s/ Xxxx Xxxxx |
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Xxxx Xxxxx |
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Senior Vice President |
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0000 X. Xxxxxxxxxx Xxxxx Xx. |
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Tel: 000-000-0000 |
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Scottsdale, AZ 00000-0000 |
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Fax: 000-000-0000 |
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xxx.xxxxxxxx.xxx |
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AMENDED SCHEDULE A
with respect to the
INVESTMENT MANAGEMENT AGREEMENT
between
and
ING INVESTMENTS, LLC
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Annual Investment |
Series(1) |
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Management Fee |
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(as a percentage of average daily net assets) |
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ING American Funds Asset Allocation Portfolio(3) |
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If the Series has not invested all or substantially all of its assets in another investment company: |
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0.5000% of the first $600 million |
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0.4200% on the next $600 million |
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0.3600% on the next $800 million |
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0.3200% on the next $1billion |
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0.2800% on the next $2 billion |
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0.2600% on the next $3 billion |
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0.2500% on assets in excess of $8 billion |
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If the Series invests all or substantially all of its assets in another investment company: |
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0.00% of all assets |
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ING American Funds Bond Portfolio(2) |
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If the Series has not invested all or substantially all of its assets in another investment company: |
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0.48% on the first $600 million |
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0.44% on the next $400 million |
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0.40% on the next $1 billion |
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0.38% on the next $1 billion |
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0.36% on assets over $3 billion |
(1) This Schedule A to the Investment Management 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.
(2) The initial two-year term of ING American Funds Bond Portfolio commenced on November 9, 2007.
(3) The initial two-year term of ING American Funds Asset Allocation Portfolio commenced on April 28, 2008.
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If the Series invests all or substantially all of its assets in another investment company: |
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0.00% computed on all assets |
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ING American Funds Growth Portfolio |
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If the Series has not invested all or substantially all of its assets in another investment company: |
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0.50% of the first $600 million of net assets |
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plus 0.45% on net assets greater than $600 million but not exceeding $1.0 billion |
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plus 0.42% on net assets greater than $1.0 billion but not exceeding $2.0 billion |
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plus 0.37% on net assets greater than $2.0 billion but not exceeding $3.0 billion |
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plus 0.35% on net assets greater than $3.0 billion but not exceeding $5.0 billion, |
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plus 0.33% on net assets greater than $5.0 billion but not exceeding $8.0 billion |
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plus 0.315% on net assets greater than $8.0 billion but not exceeding $13.0 billion |
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plus 0.30% on net assets in excess of $13.0 billion; and |
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0.00% if the Series invests all or substantially all of its assets in another investment company |
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ING American Funds International Portfolio |
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If the Series has not invested all or substantially all of its assets in another investment company: |
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0.69% of the first $500 million of net assets |
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plus 0.59% on net assets greater than $500 million but not exceeding $1.0 billion |
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plus 0.53% on net assets greater than $1.0 billion but not exceeding $1.5 billion |
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plus 0.50% on net assets greater than $1.5 billion but not exceeding $2.5 billion, |
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plus 0.48% on net assets greater than $2.5 billion but not exceeding $4.0 billion |
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plus 0.47% on net assets greater than $4.0 billion but not exceeding $6.5 billion |
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plus 0.46% on net assets greater than $6.5 billion but not exceeding $10.5 billion |
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plus 0.45% on net assets in excess of $10.5 billion; and |
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0.00% if the Series invests all or substantially all of its assets in another investment company |
ING American Funds Growth-Income Portfolio |
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If the Series has not invested all or substantially all of its assets in another investment company: |
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0.50% of the first $600 million of net assets |
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plus 0.45% on net assets greater than $600 million but not exceeding $1.5 billion |
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plus 0.40% on net assets greater than $1.5 billion but not exceeding $2.5 billion |
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plus 0.32% on net assets greater than $2.5 billion but not exceeding $4.0 billion, |
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plus 0.285% on net assets greater than $4.0 billion but not exceeding $6.5 billion, |
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plus 0.256% on net assets greater than $6.5 billion but not exceeding $10.5 billion, |
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plus 0.242% on net assets in excess of $10.5 billion; and |
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0.00% if the Series invests all or substantially all of its assets in another investment company |