0001104659-13-046174 Sample Contracts

SUB-ADVISORY AGREEMENT ING MUTUAL FUNDS
Sub-Advisory Agreement • May 31st, 2013 • Ing Mutual Funds • Arizona

This AGREEMENT is made as of this 13th day of May, 2013, between ING Investments, LLC, an Arizona limited liability company (the “Manager”), and Baillie Gifford Overseas Limited, an independent investment management firm based in Edinburgh, Scotland (the “Sub-Adviser”).

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SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • May 31st, 2013 • Ing Mutual Funds • Delaware

This AGREEMENT is made as of this 13th day of May, 2013 between ING Investments, LLC, an Arizona limited liability company (the “Manager”), and CBRE Clarion Securities, LLC, a Delaware limited partnership (the “Sub-Adviser”).

SUB-ADVISORY AGREEMENT ING MUTUAL FUNDS
Sub-Advisory Agreement • May 31st, 2013 • Ing Mutual Funds • Maryland

This AGREEMENT is made as of this 13th day of May, 2013, among ING Mutual Funds, a Delaware statutory trust (the “Fund”), ING Investments, LLC (the “Manager”), an Arizona limited liability company, and T. Rowe Price Associates, Inc. (the “Sub-Adviser”), a Maryland corporation.

SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • May 31st, 2013 • Ing Mutual Funds • Delaware

This AGREEMENT is made as of this 13th day of May, 2013, between ING Investments, LLC, an Arizona limited liability company (the “Manager”), and Thornburg Investment Management, Inc. (the “Sub-Adviser”), a corporation organized under the laws of the State of Delaware (the “Agreement”).

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