EX-99.(D)(1)(IV) 3 dex99d1iv.txt AMENDED SCHEDULE A TO THE AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT (d)(1)(iv) [LOGO] September 12, 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 Asia-Pacific Real Estate Fund and ING European Real Estate Fund, each a newly established series of ING Mutual Funds (each a "Fund," together, the "Funds"), effective October 15, 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 Funds to the Amended Schedule A of the Agreement. The Amended Schedule A, with the annual investment management fee indicated for the Funds, is attached to this letter. In addition, we hereby notify you of our intention to modify the annual investment management fee for ING Global Value Choice Fund ("Global Value Choice Fund"), effective January 2, 2008. 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 investment management fee indicated for Global Value Choice Fund, is attached to this letter. Please signify your acceptance to act as Manager under the Agreement with respect to the aforementioned Funds and acceptance to the modification of the investment management fee for Global Value Choice Fund by signing below where indicated. Very sincerely, By: /s/ Kimberly A. Anderson ------------------------------ Name: Kimberly A. Anderson Title: Senior Vice President ING Mutual Funds ACCEPTED AND AGREED TO: ING Investments, LLC By: /s/ Todd Modic ---------------------------- Name: Todd Modic Title: Senior Vice President 7337 E. Doubletree Ranch Rd. Tel: 480-477-3000 ING Mutual Funds Scottsdale, AZ 85258-2034 Fax: 480-477-2700 www.ingfunds.com AMENDED SCHEDULE A with respect to the AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT between ING MUTUAL FUNDS and ING INVESTMENTS, LLC Series Annual Investment Management Fee ------ --------------------------------------------- (as a percentage of average daily net assets) ING Asia-Pacific Real Estate 1.00% on first $250 million Fund1 0.90% on next $250 million 0.80% thereafter ING Disciplined International SmallCap Fund 0.60% ING Diversified International Fund 0.00% ING Emerging Countries Fund 1.25% ING Emerging Markets Fixed 0.65% on the first $250 million of assets Income Fund 0.60% on the next $250 million of assets 0.55% on assets in excess of $500 million ING European Real Estate Fund/1/ 1.00% on first $250 million 0.90% on next $250 million 0.80% thereafter ING Global Bond Fund 0.40% -------- /1/ The initial two-year terms of ING Asia-Pacific Real Estate Fund and ING European Real Estate Fund under this Agreement commenced on October 15, 2007. 1 Series Annual Investment Management Fee ------ --------------------------------------------- (as a percentage of average daily net assets) 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/2/ 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 0.55% Equity Fund ING International Capital 0.85% on the first $500 million of assets Appreciation Fund 0.80% on the next $500 million of assets 0.75% on assets in excess of $1 billion ING International Equity 0.75% Dividend Fund ING International Real Estate 1.00% on the first $250 million of assets Fund 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 1.00% Fund ING International Value 0.80% on the first $1 billion of assets Opportunities Fund 0.75% of assets in excess of $1 billion -------- /2/ The investment management fees for ING Global Value Choice Fund will change effective January 2, 2008 to the fees indicated below: 0.90% on the first $500 million 0.80% on the next $500 million 0.75% of assets in excess of $1 billion 2