EX-99.77Q1(E)(2) 6 ex99-77q1e2.txt Exhibit 77Q1(e)(2) [LETTERHEAD OF ING FUNDS] February 28, 2007 Todd Modic Senior Vice President ING Investments, LLC 7337 E. Doubletree Ranch Road Scottsdale, AZ 85258 Dear Mr. Modic: Pursuant to the Amended and Restated Investment Management Agreement dated February 1, 2005, as amended, between ING Mutual Funds 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 International Value Opportunities Fund, a newly established series of ING Mutual Funds (the "Fund"), effective February 28, 2007, 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 Fund to Amended Schedule A of the Agreement. The Amended Schedule A, with the annual investment management fee indicated for the Fund, is attached hereto. Please signify your acceptance to act as Manager under the Agreement with respect to the aforementioned Fund. Very sincerely, Robert S. Naka Executive Vice President ING Mutual Funds ACCEPTED AND AGREED TO: ING Investments, LLC By: __________________________ Todd Modic Senior Vice President AMENDED SCHEDULE A with respect to the AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT between ING MUTUAL FUNDS and ING INVESTMENTS, LLC
Annual Investment Management Fee -------------------------------- Series (as a percentage of average daily net assets) ------ ING Disciplined International SmallCap Fund 0.60% ING Diversified International Fund 0.00% ING Emerging Countries Fund 1.25% ING Emerging Markets Fixed Income Fund 0.65% on the first $250 million of assets 0.60% on the next $250 million of assets 0.55% on assets in excess of $500 million ING Global Bond Fund 0.40% ING Global Real Estate Fund 0.80% of the first $250 million of assets 0.775% of the next $250 million of assets 0.70% of assets in excess of $500 million ING Global Value Choice Fund 1.00% of the first $250 million of assets 0.90% of the next $250 million of assets 0.80% of the next $500 million of assets 0.75% of assets in excess of $1 billion ING Greater China Fund 1.15% on the first $100 million of assets 1.05% on the next $150 million of assets 0.95% on assets in excess of $250 million ING Index Plus International Equity Fund 0.55%
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Annual Investment Management Fee -------------------------------- Series (as a percentage of average daily net assets) ------ ING International Capital Appreciation Fund 0.85% on the first $500 million of assets 0.80% on the next $500 million of assets 0.75% on assets in excess of $1 billion ING International Real Estate Fund 1.00% on the first $250 million of assets 0.90% on the next $250 million of assets 0.80% on assets in excess of $500 million ING International SmallCap Fund 1.00% of the first $500 million of assets 0.90% of the next $500 million of assets 0.85% of assets in excess of $1 billion ING International Value Choice Fund 1.00% ING International Value Opportunities Fund 0.80% on the first $1 billion of assets 0.75% of assets in excess of $1 billion
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