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CHUBB GROUP OF INSURANCE COMPANIES DECLARATIONS
FINANCIAL INSTITUTION INVESTMENT
15 Mountain View Road, Warren, New Jersey 07059 COMPANY ASSET PROTECTION BOND
NAME OF ASSURED (including its SUBSIDIARIES): Bond Number: 81905981
ING FAMILY OF FUNDS
FEDERAL INSURANCE COMPANY
7337 E. DOUBLE TREE RANCH ROAD Incorporated under the laws of Indiana
SCOTTSDALE, AZ 85258 a stock insurance company herein called the COMPANY
Capital Center, 251 North Illinois, Suite 1100
Indianapolis, IN 46204-1927
ITEM 1. BOND PERIOD: from 12:01 a.m. on October 1, 2007
to 12:01 a.m. on October 1, 2008
ITEM 2. LIMITS OF LIABILITY--DEDUCTIBLE AMOUNTS:
If "Not Covered" is inserted below opposite any specified INSURING
CLAUSE, such INSURING CLAUSE and any other reference shall be deemed
to be deleted. THERE SHALL BE NO DEDUCTIBLE APPLICABLE TO ANY LOSS
under INSURING CLAUSE 1. SUSTAINED BY ANY INVESTMENT COMPANY.
DEDUCTIBLE
INSURING CLAUSE LIMIT OF LIABILITY AMOUNT
--------------- ------------------ ----------
1. Employee $ 25,000,000 $ 0
2. On Premises $ 25,000,000 $ 25,000
3. In Transit $ 25,000,000 $ 25,000
4. Forgery or Alteration $ 25,000,000 $ 25,000
5. Extended Forgery $ 25,000,000 $ 25,000
6. Counterfeit Money $ 25,000,000 $ 25,000
7. Threats to Person $ 25,000,000 $ 25,000
8. Computer System $ 25,000,000 $ 25,000
9. Voice Initiated Funds Transfer Instruction $ 25,000,000 $ 25,000
10. Uncollectible Items of Deposit $ 250,000 $ 5,000
11. Audit Expense $ 250,000 $ 5,000
12. Claims Expense $ 25,000 $ 0
13. Stop Payment Order or Refusal to Pay Check $ 100,000 $ 0
14. Extended Computer Systems $ 25,000,000 $ 25,000
ITEM 3. THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE
FOLLOWING ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH:
1 - 12
IN WITNESS WHEREOF, THE COMPANY has caused this Bond to be signed by its
authorized officers, but it shall not be valid unless also signed by an
authorized representative of the Company.
(GRAPHIC)
ICAP Bond (5-98) - Federal
Form 17-02-1421 (Ed. 5-98) Page 1 of 1
The COMPANY, in consideration of payment of the
required premium, and in reliance on the APPLICATION
and all other statements made and information furnished
to the COMPANY by the ASSURED, and subject to the
DECLARATIONS made a part of this Bond and to all other
terms and conditions of this Bond, agrees to pay the
ASSURED for:
INSURING CLAUSES
Employee 1. Loss resulting directly from LARCENY or
EMBEZZLEMENT committed by any EMPLOYEE, alone or in
collusion with others.
On Premises 2. Loss of PROPERTY resulting directly from robbery,
burglary, false pretenses, common law or statutory
larceny, misplacement, mysterious unexplainable
disappearance, damage, destruction or removal, from
the possession, custody or control of the ASSURED,
while such PROPERTY is lodged or deposited at
premises located anywhere.
In Transit 3. Loss of PROPERTY resulting directly from common law
or statutory larceny, misplacement, mysterious
unexplainable disappearance, damage or destruction,
while the PROPERTY is in transit anywhere:
a. in an armored motor vehicle, including loading
and unloading thereof,
b. in the custody of a natural person acting as a
messenger of the ASSURED, or
c. in the custody of a TRANSPORTATION COMPANY and
being transported in a conveyance other than an
armored motor vehicle provided, however, that
covered PROPERTY transported in such manner is
limited to the following:
(1) written records,
(2) securities issued in registered form, which
are not endorsed or are restrictively
endorsed, or
(3) negotiable instruments not payable to
bearer, which are not endorsed or are
restrictively endorsed.
Coverage under this INSURING CLAUSE begins
immediately on the receipt of such PROPERTY by the
natural person or TRANSPORTATION COMPANY and ends
immediately on delivery to the premises of the
addressee or to any representative of the addressee
located anywhere.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 1 of 19
INSURING CLAUSES
(continued)
Forgery Or Alteration 4. Loss resulting directly from:
a. FORGERY on, or fraudulent material alteration
of, any bills of exchange, checks, drafts,
acceptances, certificates of deposits,
promissory notes, due bills, money orders,
orders upon public treasuries, letters of
credit, other written promises, orders or
directions to pay sums certain in money, or
receipts for the withdrawal of PROPERTY, or
b. transferring, paying or delivering any funds or
other PROPERTY, or establishing any credit or
giving any value in reliance on any written
instructions, advices or applications directed
to the ASSURED authorizing or acknowledging the
transfer, payment, delivery or receipt of funds
or other PROPERTY, which instructions, advices
or applications fraudulently purport to bear the
handwritten signature of any customer of the
ASSURED, or shareholder or subscriber to shares
of an INVESTMENT COMPANY, or of any financial
institution or EMPLOYEE but which instructions,
advices or applications either bear a FORGERY or
have been fraudulently materially altered
without the knowledge and consent of such
customer, shareholder, subscriber, financial
institution or EMPLOYEE;
excluding, however, under this INSURING CLAUSE any
loss covered under INSURING CLAUSE 5. of this Bond,
whether or not coverage for INSURING CLAUSE 5. is
provided for in the DECLARATIONS of this Bond.
For the purpose of this INSURING CLAUSE, a
mechanically reproduced facsimile signature is
treated the same as a handwritten signature.
Extended Forgery 5. Loss resulting directly from the ASSURED having, in
good faith, and in the ordinary course of business,
for its own account or the account of others in any
capacity:
a. acquired, accepted or received, accepted or
received, sold or delivered, or given value,
extended credit or assumed liability, in
reliance on any original SECURITIES, DOCUMENTS
OR OTHER WRITTEN INSTRUMENTS which prove to:
(1) bear a FORGERY or a fraudulently material
alteration,
(2) have been lost or stolen, or
(3) be COUNTERFEIT, or
b. guaranteed in writing or witnessed any
signatures on any transfer, assignment, bill of
sale, power of attorney, guarantee, endorsement
or other obligation upon or in connection with
any SECURITIES, DOCUMENTS OR OTHER WRITTEN
INSTRUMENTS.
Actual physical possession, and continued actual
physical possession if taken as collateral, of
such SECURITIES, DOCUMENTS OR OTHER WRITTEN
INSTRUMENTS by an EMPLOYEE, CUSTODIAN, or a
Federal or State chartered deposit institution of
the ASSURED is a condition precedent to the ASSURED
having relied on such items. Release or return of
such collateral is an acknowledgment by the ASSURED
that it no longer relies on such collateral.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 2 of 19
INSURING CLAUSES
Extended Forgery For the purpose of this INSURING CLAUSE, a
(continued) mechanically reproduced facsimile signature is
treated the same as a handwritten signature.
Counterfeit Money 6. Loss resulting directly from the receipt by the
ASSURED in good faith of any COUNTERFEIT money.
Threats To Person 7. Loss resulting directly from surrender of PROPERTY
away from an office of the ASSURED as a result of a
threat communicated to the ASSURED to do bodily
harm to an EMPLOYEE as defined in Section 1.e. (1),
EMPLOYEE, or a (2) and (5), a RELATIVE or invitee
of such resident of the household of such EMPLOYEE,
who is, or allegedly is, being held captive
provided, however, that prior to the surrender of
such PROPERTY:
a. the EMPLOYEE who receives the threat has made a
reasonable effort to notify an officer of the
ASSURED who is not involved in such threat, and
b. the ASSURED has made a reasonable effort to
notify the Federal Bureau of Investigation and
local law enforcement authorities concerning
such threat.
It is agreed that for purposes of this INSURING
CLAUSE, any EMPLOYEE of the ASSURED, as set forth
in the preceding paragraph, shall be deemed to be
an ASSURED hereunder, but only with respect to the
surrender of money, securities and other tangible
personal property in which such EMPLOYEE has a
legal or equitable interest.
Computer System 8. Loss resulting directly from fraudulent:
a. entries of data into, or
b. changes of data elements or programs within, a
COMPUTER SYSTEM, provided the fraudulent entry
or change causes:
(1) funds or other property to be transferred,
paid or delivered,
(2) an account of the ASSURED or of its
customer to be added, deleted, debited or
credited, or
(3) an unauthorized account or a fictitious
account to be debited or credited.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 3 of 19
INSURING CLAUSES
(continued)
Voice Initiated Funds 9. Loss resulting directly from VOICE INITIATED FUNDS
Transfer Instruction TRANSFER INSTRUCTION directed to the ASSURED
authorizing the transfer of dividends or redemption
proceeds of INVESTMENT COMPANY shares from a
CUSTOMER'S account, provided such VOICE INITIATED
FUNDS TRANSFER INSTRUCTION was:
a. received at the ASSURED'S offices by those
EMPLOYEES of the ASSURED specifically authorized
to receive the VOICE INITIATED FUNDS TRANSFER
INSTRUCTION,
b. made by a person purporting to be a CUSTOMER,
and
c. made by said person for the purpose of causing
the ASSURED or CUSTOMER to sustain a loss or
making an improper personal financial gain for
such person or any other person.
In order for coverage to apply under this INSURING
CLAUSE, all VOICE INITIATED FUNDS TRANSFER
INSTRUCTIONS must be received and processed in
accordance with the Designated Procedures outlined
in the APPLICATION furnished to the COMPANY.
Uncollectible Items Of 10. Loss resulting directly from the ASSURED having
Deposit credited an account of a customer, shareholder or
subscriber on the faith of any ITEMS OF DEPOSIT
which prove to be uncollectible, provided that the
crediting of such account causes:
a. redemptions or withdrawals to be permitted,
b. shares to be issued, or
c. dividends to be paid,
from an account of an INVESTMENT COMPANY.
In order for coverage to apply under this INSURING
CLAUSE, the ASSURED must hold ITEMS OF DEPOSIT for
the minimum number of days stated in the
APPLICATION before permitting any redemptions or
withdrawals, issuing any shares or paying any
dividends with respect to such ITEMS OF DEPOSIT.
ITEMS OF DEPOSIT shall not be deemed uncollectible
until the ASSURED'S standard collection procedures
have failed.
Audit Expense 11. Expense incurred by the ASSURED for that part of
the cost of audits or examinations required by any
governmental regulatory authority or
self-regulatory organization to be conducted by
such authority, organization or their appointee by
reason of the discovery of loss sustained by the
ASSURED and covered by this Bond.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 4 of 19
GENERAL AGREEMENTS
Additional Companies A. If more than one corporation, or INVESTMENT
Included As Assured COMPANY, or any combination of them is included
as the ASSURED herein:
(1) The total liability of the COMPANY under
this Bond for loss or losses sustained by
any one or more or all of them shall not
exceed the limit for which the COMPANY
would be liable under this Bond if all such
loss were sustained by any one of them.
(2) Only the first named ASSURED shall be
deemed to be the sole agent of the others
for all purposes under this Bond, including
but not limited to the giving or receiving
of any notice or proof required to be given
and for the purpose of effecting or
accepting any amendments to or termination
of this Bond. The COMPANY shall furnish
each INVESTMENT COMPANY with a copy of the
Bond and with any amendment thereto,
together with a copy of each formal filing
of claim by any other named ASSURED and
notification of the terms of the settlement
of each such claim prior to the execution
of such settlement.
(3) The COMPANY shall not be responsible for
the proper application of any payment made
hereunder to the first named ASSURED.
(4) Knowledge possessed or discovery made by
any partner, director, trustee, officer or
supervisory employee of any ASSURED shall
constitute knowledge or discovery by all
the ASSUREDS for the purposes of this Bond.
(5) If the first named ASSURED ceases for any
reason to be covered under this Bond, then
the ASSURED next named on the APPLICATION
shall thereafter be considered as the first
named ASSURED for the purposes of this
Bond.
Representation Made By B. The ASSURED represents that all information it
Assured has furnished in the APPLICATION for this Bond
or otherwise is complete, true and correct. Such
APPLICATION and other information constitute
part of this Bond.
The ASSURED must promptly notify the COMPANY of
any change in any fact or circumstance which
materially affects the risk assumed by the
COMPANY under this Bond.
Any intentional misrepresentation, omission,
concealment or incorrect statement of a material
fact, in the APPLICATION or otherwise, shall be
grounds for recision of this Bond.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 5 of 19
GENERAL AGREEMENTS
(continued)
Additional Offices Or C. If the ASSURED, other than an INVESTMENT
Employees - Consolidation, COMPANY, while this Bond is in force, merges or
Merger Or Purchase Or consolidates with, or purchases or acquires
Acquisition Of assets or liabilities of another institution,
Or Liabilities - Notice To the ASSURED shall not have the coverage afforded
Company under this ASSETS Bond for loss which has:
(1) occurred or will occur on premises, or
(2) been caused or will be caused by an
employee, or
(3) arisen or will arise out of the assets or
liabilities,
of such institution, unless the ASSURED:
a. gives the COMPANY written notice of the
proposed consolidation, merger
or
purchase or acquisition of assets or
liabilities prior to the proposed effective
date of such action, and
b. obtains the written consent of the COMPANY
to extend some or all of the coverage
provided by this Bond to such additional
exposure, and
c. on obtaining such consent, pays to the
COMPANY an additional premium.
Change Of Control - D. When the ASSURED learns of a change in control
Notice To Company (other than in an INVESTMENT COMPANY), as set
forth in Section 2(a) (9) of the Investment
Company Act of 1940, the ASSURED shall within
sixty (60) days give written notice to the
COMPANY setting forth:
(1) the names of the transferors and
transferees (or the names of the beneficial
owners if the voting securities are
registered in another name),
(2) the total number of voting securities owned
by the transferors and the transferees (or
the beneficial owners), both immediately
before and after the transfer, and
(3) the total number of outstanding voting
securities.
Failure to give the required notice shall result
in termination of coverage for any loss
involving a transferee, to be effective on the
date of such change in control.
Court Costs And E. The COMPANY will indemnify the ASSURED for court
Attorneys' Fees costs and reasonable attorneys' fees incurred
and paid by the ASSURED in defense, whether or
not successful, whether or not fully litigated
on the merits and whether or not settled, of any
claim, suit or legal proceeding with respect to
which the ASSURED would be entitled to recovery
under this Bond. However, with respect to
INSURING CLAUSE 1., this Section shall only
apply in the event that:
(1) an EMPLOYEE admits to being guilty of
LARCENY OR EMBEZZLEMENT,
(2) an EMPLOYEE is adjudicated to be guilty of
LARCENY OR EMBEZZLEMENT, or
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 6 of 19
GENERAL AGREEMENTS
Court Costs And (3) in the absence of 1 or 2 above, an arbitration
Attorneys' Fees panel agrees, after a review of an agreed
(continued) statement of facts between the COMPANY and the
ASSURED, that an EMPLOYEE would be found guilty
of LARCENY OR EMBEZZLEMENT if such EMPLOYEE were
prosecuted.
The ASSURED shall promptly give notice to the COMPANY
of any such suit or legal proceeding and at the request
of the COMPANY shall furnish copies of all pleadings
and pertinent papers to the COMPANY. The COMPANY may,
at its sole option, elect to conduct the defense of all
or part of such legal proceeding. The defense by the
COMPANY shall be in the name of the ASSURED through
attorneys selected by the COMPANY. The ASSURED shall
provide all reasonable information and assistance as
required by the COMPANY for such defense.
If the COMPANY declines to defend the ASSURED, no
settlement without the prior written consent of the
COMPANY nor judgment against the ASSURED shall
determine the existence, extent or amount of coverage
under this Bond.
If the amount demanded in any such suit or legal
proceeding is within the DEDUCTIBLE AMOUNT, if any, the
COMPANY shall have no liability for court costs and
attorney's fees incurred in defending all or part of
such suit or legal proceeding.
If the amount demanded in any such suit or legal
proceeding is in excess of the LIMIT OF LIABILITY
stated in ITEM 2. of the DECLARATIONS for the
applicable INSURING CLAUSE, the COMPANY'S liability for
court costs and attorney's fees incurred in defending
all or part of such suit or legal proceedings is
limited to the proportion of such court costs and
attorney's fees incurred that the LIMIT OF LIABILITY
stated in ITEM 2. of the DECLARATIONS for the
applicable INSURING CLAUSE bears to the total of the
amount demanded in such suit or legal proceeding.
If the amount demanded is any such suit or legal
proceeding is in excess of the DEDUCTIBLE AMOUNT, if
any, but within the LIMIT OF LIABILITY stated in ITEM
2. of the DECLARATIONS for the applicable INSURING
CLAUSE, the COMPANY'S liability for court costs and
attorney's fees incurred in defending all or part of
such suit or legal proceedings shall be limited to the
proportion of such court costs or attorney's fees that
the amount demanded that would be payable under this
Bond after application of the DEDUCTIBLE AMOUNT, bears
to the total amount demanded.
Amounts paid by the COMPANY for court costs and
attorneys' fees shall be in addition to the LIMIT OF
LIABILITY stated in ITEM 2. of the DECLARATIONS.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 7 of 19
CONDITIONS AND
LIMITATIONS
Definitions 1. As used in this Bond:
a. COMPUTER SYSTEM means a computer and all input,
output, processing, storage, off-line media
libraries, and communication facilities which
are connected to the computer and which are
under the control and supervision of the
operating system(s) or application(s) software
used by the ASSURED.
b. COUNTERFEIT means an imitation of an actual
valid original which is intended to deceive and
be taken as the original.
c. CUSTODIAN means the institution designated by an
INVESTMENT COMPANY to maintain possession and
control of its assets.
d. CUSTOMER means an individual, corporate,
partnership, trust customer, shareholder or
subscriber of an INVESTMENT COMPANY which has a
written agreement with the ASSURED for VOICE
INITIATED FUNDS TRANSFER INSTRUCTION.
e. EMPLOYEE means:
(1) an officer of the ASSURED,
(2) a natural person while in the regular
service of the ASSURED at any of the
ASSURED'S premises and compensated
directly by the ASSURED through its
payroll system and subject to the United
States Internal Revenue Service Form W-2
or equivalent income reporting plans of
other countries, and whom the ASSURED
has the right to control and direct both
as to the result to be accomplished and
details and means by which such result
is accomplished in the performance of
such service,
(3) a guest student pursuing studies or
performing duties in any of the ASSURED'S
premises,
(4) an attorney retained by the ASSURED and an
employee of such attorney while either is
performing legal services for the ASSURED,
(5) a natural person provided by an employment
contractor to perform employee duties for
the ASSURED under the ASSURED'S supervision
at any of the ASSURED'S premises,
(6) an employee of an institution merged or
consolidated with the ASSURED prior to
the effective date of this Bond,
(7) a director or trustee of the ASSURED, but
only while performing acts within the scope
of the customary and usual duties of any
officer or other employee of the ASSURED or
while acting as a member of any committee
duly elected or appointed to examine or
audit or have custody of or access to
PROPERTY of the ASSURED, or
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 8 of 19
CONDITIONS AND
LIMITATIONS
Definitions (8) each natural person, partnership or corporation
(continued) authorized by written agreement with the ASSURED to
perform services as electronic data processor of
checks or other accounting records related to such
checks but only while such person, partnership or
corporation is actually performing such services
and not:
a. creating, preparing, modifying or maintaining
the ASSURED'S computer software or programs, or
b. acting as transfer agent or in any other agency
capacity in issuing checks, drafts or securities
for the ASSURED,
(9) any partner, officer or employee of an investment
advisor, an underwriter (distributor), a transfer
agent or shareholder accounting recordkeeper, or an
administrator, for an INVESTMENT COMPANY while
performing acts coming within the scope of the
customary and usual duties of an officer or
employee of an INVESTMENT COMPANY or acting as a
member of any committee duly elected or appointed
to examine, audit or have custody of or access to
PROPERTY of AN INVESTMENT COMPANY.
The term EMPLOYEE shall not include any partner,
officer or employee of a transfer agent,
shareholder accounting recordkeeper or
administrator:
a. which is not an "affiliated person" (as defined
in Section 2(a) of the Investment Company Act of
1940) of an INVESTMENT COMPANY or of the
investment advisor or underwriter (distributor)
of such INVESTMENT COMPANY, or
b. which is a "bank" (as defined in Section 2(a) of
the Investment Company Act of 1940).
This Bond does not afford coverage in favor of
the employers of persons as set forth in e. (4),
(5) and (8) above, and upon payment to the
ASSURED by the COMPANY resulting directly from
LARCENY OR EMBEZZLEMENT committed by any of the
partners, officers or employees of such
employers, whether acting alone or in collusion
with others, an assignment of such of the
ASSURED'S rights and causes of action as it may
have against such employers by reason of such
acts so committed shall, to the extent of such
payment, be given by the ASSURED to the COMPANY,
and the ASSURED shall execute all papers
necessary to secure to the COMPANY the rights
provided for herein.
Each employer of persons as set forth in e.(4), (5)
and (8) above and the partners, officers and other
employees of such employers shall collectively be
deemed to be one person for all the purposes of
this Bond; excepting, however, the fifth paragraph
of Section 13.
Independent contractors not specified in e.(4), (5)
or (8) above, intermediaries, agents, brokers or
other representatives of the same general character
shall not be considered EMPLOYEES.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 9 of 19
CONDITIONS AND
LIMITATIONS
Definitions f. FORGERY means the signing of the name of another
(continued) natural person with the intent to deceive but does
not mean a signature which consists in whole or in
part of one's own name, with or without authority,
in any capacity for any purpose.
g. INVESTMENT COMPANY means any investment company
registered under the Investment Company Act of 1940
and listed under the NAME OF ASSURED on the
DECLARATIONS.
h. ITEMS OF DEPOSIT means one or more checks or drafts
drawn upon a financial institution in the United
States of America.
i. LARCENY OR EMBEZZLEMENT means larceny or
embezzlement as defined in Section 37 of the
Investment Company Act of 1940.
j. PROPERTY means money, revenue and other stamps;
securities; including any note, stock, treasury
stock, bond, debenture, evidence of indebtedness,
certificate of deposit, certificate of interest or
participation in any profit- sharing agreement,
collateral trust certificate, preorganization
certificate or subscription, transferable share,
investment contract, voting trust certificate,
certificate of deposit for a security, fractional
undivided interest in oil, gas, or other mineral
rights, any interest or instruments commonly known
as a security under the Investment Company Act of
1940, any other certificate of interest or
participation in, temporary or interim certificate
for, receipt for, guarantee of, or warrant or right
to subscribe to or purchase any of the foregoing;
bills of exchange; acceptances; checks; withdrawal
orders; money orders; travelers' letters of credit;
bills of lading; abstracts of title; insurance
policies, deeds, mortgages on real estate and/or
upon chattels and interests therein; assignments of
such policies, deeds or mortgages; other valuable
papers, including books of accounts and other
records used by the ASSURED in the conduct of its
business (but excluding all electronic data
processing records); and, all other instruments
similar to or in the nature of the foregoing in
which the ASSURED acquired an interest at the time
of the ASSURED'S consolidation or merger with, or
purchase of the principal assets of, a predecessor
or which are held by the ASSURED for any purpose or
in any capacity and whether so held gratuitously or
not and whether or not the ASSURED is liable
therefor.
k. RELATIVE means the spouse of an EMPLOYEE or partner
of the ASSURED and any unmarried child supported
wholly by, or living in the home of, such EMPLOYEE
or partner and being related to them by blood,
marriage or legal guardianship.
l. SECURITIES, DOCUMENTS OR OTHER WRITTEN INSTRUMENTS
means original (including original counterparts)
negotiable or non-negotiable instruments, or
assignments thereof, which in and of themselves
represent an equitable interest, ownership, or debt
and which are in the ordinary course of business
transferable by delivery of such instruments with
any necessary endorsements or assignments.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 10 of 19
CONDITIONS AND
LIMITATIONS
Definitions m. SUBSIDIARY means any organization that, at
(continued) the inception date of this Bond, (continued)
is named in the APPLICATION or is created
during the BOND PERIOD and of which more than
fifty percent (50%) of the outstanding
securities or voting rights representing the
present right to vote for election of
directors is owned or controlled by the
ASSURED either directly or through one or
more of its subsidiaries.
n. TRANSPORTATION COMPANY means any organization
which provides its own or its leased vehicles
for transportation or which provides freight
forwarding or air express services.
o. VOICE INITIATED ELECTION means any election
concerning dividend options available to
INVESTMENT COMPANY shareholders or
subscribers which is requested by voice over
the telephone.
p. VOICE INITIATED REDEMPTION means any
redemption of shares issued by an INVESTMENT
COMPANY which is requested by voice over the
telephone.
q. VOICE INITIATED FUNDS TRANSFER INSTRUCTION
means any VOICE INITIATED REDEMPTION or VOICE
INITIATED ELECTION.
For the purposes of these definitions, the
singular includes the plural and the plural
includes the singular, unless otherwise indicated.
General Exclusions - 2. THIS BOND DOES NOT DIRECTLY OR INDIRECTLY COVER:
Applicable to All
Insuring Clauses a. loss not reported to the COMPANY in writing
within sixty (60) days after termination of
this Bond as an entirety;
b. loss due to riot or civil commotion outside
the United States of America and Canada, or
any loss due to military, naval or usurped
power, war or insurrection. This Section
2.b., however, shall not apply to loss which
occurs in transit in the circumstances
recited in INSURING CLAUSE 3., provided that
when such transit was initiated there was no
knowledge on the part of any person acting
for the ASSURED of such riot, civil
commotion, military, naval or usurped power,
war or insurrection;
c. loss resulting from the effects of nuclear
fission or fusion or radioactivity;
d. loss of potential income including, but not
limited to, interest and dividends not
realized by the ASSURED or by any customer
of the ASSURED;
e. damages of any type for which the ASSURED is
legally liable, except compensatory damages,
but not multiples thereof, arising from a
loss covered under this Bond;
f. costs, fees and expenses incurred by the
ASSURED in establishing the existence of or
amount of loss under this Bond, except to the
extent covered under INSURING CLAUSE 11.;
g. loss resulting from indirect or consequential
loss of any nature;
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 11 of 19
CONDITIONS AND
LIMITATIONS
General Exclusions - h. loss resulting from dishonest acts by any
Applicable to All member of the Board of Directors or Board of
Insuring Clauses Trustees of the ASSURED who is not an
(continued) EMPLOYEE, acting alone or in collusion with
others;
i. loss, or that part of any loss, resulting
solely from any violation by the ASSURED or
by any EMPLOYEE:
(1) of any law regulating:
a. the issuance, purchase or sale of
securities,
b. securities transactions on security
or commodity exchanges or the over
the counter market,
c. investment companies,
d. investment advisors, or
(2) of any rule or regulation made pursuant
to any such law; or
j. loss of confidential information,
material or data;
k. loss resulting from voice requests
or instructions received over the
telephone, provided however, this
Section 2.k. shall not apply to
INSURING CLAUSE 7. or 9.
Specific Exclusions - 3. THIS BOND DOES NOT DIRECTLY OR INDIRECTLY COVER:
Applicable To All
Insuring Clauses a. loss caused by an EMPLOYEE, provided, however,
Except Insuring this Section 3.a. shall not apply to loss covered
Clause 1. under INSURING CLAUSE 2. or 3. which results
directly from misplacement, mysterious
unexplainable disappearance, or damage or
destruction of PROPERTY;
b. loss through the surrender of property away from
premises of the ASSURED as a result of a threat:
(1) to do bodily harm to any natural person,
except loss of PROPERTY in transit in the
custody of any person acting as messenger of
the ASSURED, provided that when such transit
was initiated there was no knowledge by the
ASSURED of any such threat, and provided
further that this Section 3.b. shall not
apply to INSURING CLAUSE 7., or
(2) to do damage to the premises or PROPERTY of
the ASSURED;
c. loss resulting from payments made or withdrawals
from any account involving erroneous credits to
such account;
d. loss involving ITEMS OF DEPOSIT which are not
finally paid for any reason provided however,
that this Section 3.d. shall not apply to
INSURING CLAUSE 10.;
e. loss of property while in the mail;
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 12 of 19
CONDITIONS AND
LIMITATIONS
Specific Exclusions - f. loss resulting from the failure for any reason of
Applicable To All a financial or depository institution, its
Insuring Clauses receiver or other liquidator to pay or deliver
Except Insuring funds or other PROPERTY to the ASSURED provided
Clause 1. (continued) further that this Section 3.f. shall not apply to
loss of PROPERTY resulting directly from robbery,
burglary, misplacement, mysterious unexplainable
disappearance, damage, destruction or removal
from the possession, custody or control of the
ASSURED.
g. loss of PROPERTY while in the custody of a
TRANSPORTATION COMPANY, provided however, that
this Section 3.g. shall not apply to INSURING
CLAUSE 3.;
h. loss resulting from entries or changes made by a
natural person with authorized access to a
COMPUTER SYSTEM who acts in good faith on
instructions, unless such instructions are given
to that person by a software contractor or its
partner, officer, or employee authorized by the
ASSURED to design, develop, prepare, supply,
service, write or implement programs for the
ASSURED's COMPUTER SYSTEM; or
i. loss resulting directly or indirectly from the
input of data into a COMPUTER SYSTEM terminal,
either on the premises of the customer of the
ASSURED or under the control of such a customer,
by a customer or other person who had authorized
access to the customer's authentication mechanism.
Specific Exclusions - 4. THIS BOND DOES NOT DIRECTLY OR INDIRECTLY COVER:
Applicable To All
Insuring Clauses a. loss resulting from the complete or partial
Except Insuring non-payment of or default on any loan whether
Clauses 1., 4., And 5. such loan was procured in good faith or through
trick, artifice, fraud or false pretenses;
provided, however, this Section 4.a. shall not
apply to INSURING CLAUSE 8.;
b. loss resulting from forgery or any alteration;
c. loss involving a counterfeit provided, however,
this Section 4.c. shall not apply to INSURING
CLAUSE 5. or 6.
Limit Of Liability/ 5. At all times prior to termination of this Bond, this
Non-Reduction And Non- Bond shall continue in force for the limit stated in
Accumulation Of the applicable sections of ITEM 2. of the
Liability DECLARATIONS, notwithstanding any previous loss for
which the COMPANY may have paid or be liable to pay
under this Bond provided, however, that the liability
of the COMPANY under this Bond with respect to all
loss resulting from:
a. any one act of burglary, robbery or hold-up, or
attempt thereat, in which no EMPLOYEE is concerned
or implicated, or
b. any one unintentional or negligent act on the
part of any one person resulting in damage to
or destruction or misplacement of PROPERTY, or
c. all acts, other than those specified in a. above,
of any one person, or
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 13 of 19
CONDITIONS AND
LIMITATIONS
Limit Of Liability/Non- d. any one casualty or event other than those
Reduction And Non- specified in a., b., or c. above, shall be deemed
Accumulation Of to be one loss and shall be limited to the
Liability (continued) applicable LIMIT OF LIABILITY stated in ITEM 2. of
the DECLARATIONS of this Bond irrespective of the
total amount of such loss or losses and shall not
be cumulative in amounts from year to year or from
period to period.
All acts, as specified in c. above, of any one person
which
i. directly or indirectly aid in any way wrongful
acts of any other person or persons, or
ii. permit the continuation of wrongful acts of any
other person or persons
whether such acts are committed with or without the
knowledge of the wrongful acts of the person so
aided, and whether such acts are committed with or
without the intent to aid such other person, shall be
deemed to be one loss with the wrongful acts of all
persons so aided.
Discovery 6. This Bond applies only to loss first discovered by an
officer of the ASSURED during the BOND PERIOD.
Discovery occurs at the earlier of an officer of the
ASSURED being aware of:
a. facts which may subsequently result in a loss of
a type covered by this Bond, or
b. an actual or potential claim in which it is
alleged that the ASSURED is liable to a third
party,
regardless of when the act or acts causing or
contributing to such loss occurred, even though the
amount of loss does not exceed the applicable
DEDUCTIBLE AMOUNT, or the exact amount or details of
loss may not then be known.
Notice To Company - 7. a. The ASSURED shall give the COMPANY notice thereof
Proof - Legal at the earliest practicable moment, not to exceed
Proceedings Against sixty (60) days after discovery of loss, in an
Company amount that is in excess of 50% of the applicable
DEDUCTIBLE AMOUNT, as stated in ITEM 2. of the
DECLARATIONS.
b. The ASSURED shall furnish to the COMPANY proof of
loss, duly sworn to, with full particulars within
six (6) months after such discovery.
c. Securities listed in a proof of loss shall be
identified by certificate or bond numbers, if
issued with them.
d. Legal proceedings for the recovery of any loss
under this Bond shall not be brought prior to the
expiration of sixty (60) days after the proof of
loss is filed with the COMPANY or after the
expiration of twenty-four (24) months from the
discovery of such loss.
e. This Bond affords coverage only in favor of the
ASSURED. No claim, suit, action or legal
proceedings shall be brought under this Bond by
anyone other than the ASSURED.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 14 of 19
CONDITIONS AND
LIMITATIONS
Notice To Company - f. Proof of loss involving VOICE INITIATED FUNDS
Proof - Legal TRANSFER INSTRUCTION shall include electronic
Proceedings Against recordings of such instructions.
Company (continued)
Deductible Amount 8. The COMPANY shall not be liable under any INSURING
CLAUSES of this Bond on account of loss unless the
amount of such loss, after deducting the net amount
of all reimbursement and/or recovery obtained or made
by the ASSURED, other than from any Bond or policy of
insurance issued by an insurance company and covering
such loss, or by the COMPANY on account thereof prior
to payment by the COMPANY of such loss, shall exceed
the DEDUCTIBLE AMOUNT set forth in ITEM 3. of the
DECLARATIONS, and then for such excess only, but in
no event for more than the applicable LIMITS OF
LIABILITY stated in ITEM 2. of the DECLARATIONS.
There shall be no deductible applicable to any loss
under INSURING CLAUSE 1. sustained by any INVESTMENT
COMPANY.
Valuation 9. BOOKS OF ACCOUNT OR OTHER RECORDS
The value of any loss of PROPERTY consisting of books
of account or other records used by the ASSURED in the
conduct of its business shall be the amount paid by
the ASSURED for blank books, blank pages, or other
materials which replace the lost books of account
or other records, plus the cost of labor paid by the
ASSURED for the actual transcription or copying of
data to reproduce such books of account or other
records.
The value of any loss of PROPERTY other than books of
account or other records used by the ASSURED in the
conduct of its business, for which a claim is made
shall be determined by the average market value of
such PROPERTY on the business day immediately
preceding discovery of such loss provided, however,
that the value of any PROPERTY replaced by the
ASSURED with the consent of the COMPANY and prior to
the settlement of any claim for such PROPERTY shall
be the actual market value at the time of replacement.
In the case of a loss of interim certificates,
warrants, rights or other securities, the production
of which is necessary to the exercise of subscription,
conversion, redemption or deposit privileges, the
value of them shall be the market value of such
privileges immediately preceding their expiration if
said loss is not discovered until after their
expiration. If no market price is quoted for such
PROPERTY or for such privileges, the value shall be
fixed by agreement between the parties.
OTHER PROPERTY
The value of any loss of PROPERTY, other than as
stated above, shall be the actual cash value or the
cost of repairing or replacing such PROPERTY with
PROPERTY of like quality and value, whichever is less.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 15 of 19
CONDITIONS AND
LIMITATIONS
(continued)
Securities Settlement 10. In the event of a loss of securities covered under
this Bond, the COMPANY may, at its sole discretion,
purchase replacement securities, tender the value
of the securities in money, or issue its indemnity to
effect replacement securities.
The indemnity required from the ASSURED under the
terms of this Section against all loss, cost or
expense arising from the replacement of securities
by the COMPANY'S indemnity shall be:
a. for securities having a value less than or
equal to the applicable DEDUCTIBLE AMOUNT - one
hundred (100%) percent;
b. for securities having a value in excess of the
DEDUCTIBLE AMOUNT but within the applicable LIMIT
OF LIABILITY - the percentage that the DEDUCTIBLE
AMOUNT bears to the value of the securities;
c. for securities having a value greater than the
applicable LIMIT OF LIABILITY - the percentage
that the DEDUCTIBLE AMOUNT and portion in excess
of the applicable LIMIT OF LIABILITY bears to the
value of the securities.
The value referred to in Section 10.a., b., and c. is
the value in accordance with Section 9, VALUATION,
regardless of the value of such securities at the time
the loss under the COMPANY'S indemnity is sustained.
The COMPANY is not required to issue its indemnity for
any portion of a loss of securities which is not
covered by this Bond; however, the COMPANY may do so
as a courtesy to the ASSURED and at its sole
discretion.
The ASSURED shall pay the proportion of the Company's
premium charge for the Company's indemnity as set
forth in Section 10.a., b., and c. No portion of the
LIMIT OF LIABILITY shall be used as payment of premium
for any indemnity purchased by the ASSURED to obtain
replacement securities.
Subrogation 11. In the event of a payment under this Bond, the COMPANY
Assignment - shall be subrogated to all of the ASSURED'S rights of
Recovery recovery against any person or entity to the extent of
such payment. On request, the ASSURED shall deliver to
the COMPANY an assignment of the ASSURED'S rights,
title and interest and causes of action against any
person or entity to the extent of such payment.
Recoveries, whether effected by the COMPANY or by the
ASSURED, shall be applied net of the expense of such
recovery in the following order:
a. first, to the satisfaction of the ASSURED'S loss
which would otherwise have been paid but for the
fact that it is in excess of the applicable LIMIT
OF LIABILITY,
b. second, to the COMPANY in satisfaction of amounts
paid in settlement of the ASSURED'S claim,
c. third, to the ASSURED in satisfaction of the
applicable DEDUCTIBLE AMOUNT, and
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 16 of 19
CONDITIONS AND
LIMITATIONS
Subrogation - d. fourth, to the ASSURED in satisfaction of any loss
Assignment - Recovery suffered by the ASSURED which was not covered
(continued) under this Bond.
Recovery from reinsurance or indemnity of the
COMPANY shall not be deemed a recovery under this
section.
Cooperation Of 12. At the COMPANY'S request and at reasonable times and
Assured places designated by the COMPANY, the ASSURED shall:
a. submit to examination by the COMPANY and subscribe
to the same under oath,
b. produce for the COMPANY'S examination all
pertinent records, and
c. cooperate with the COMPANY in all matters
pertaining to the loss.
The ASSURED shall execute all papers and render
assistance to secure to the COMPANY the rights and
causes of action provided for under this Bond. The
ASSURED shall do nothing after loss to prejudice such
rights or causes of action.
Termination 13. If the Bond is for a sole ASSURED, it shall not be
terminated unless written notice shall have been given
by the acting party to the affected party and to the
Securities and Exchange Commission, Washington, D.C.,
not less than sixty (60) days prior to the effective
date of such termination.
If the Bond is for a joint ASSURED, it shall not be
terminated unless written notice shall have been given
by the acting party to the affected party, and by the
COMPANY to all ASSURED INVESTMENT COMPANIES and to the
Securities and Exchange Commission, Washington, D.C.,
not less than sixty (60) days prior to the effective
date of such termination.
This Bond will terminate as to any one ASSURED, other
than an INVESTMENT COMPANY:
a. immediately on the taking over of such ASSURED by
a receiver or other liquidator or by State or
Federal officials, or
b. immediately on the filing of a petition under any
State or Federal statute relative to bankruptcy or
reorganization of the ASSURED, or assignment for
the benefit of creditors of the ASSURED, or
c. immediately upon such ASSURED ceasing to exist,
whether through merger into another entity,
disposition of all of its assets or otherwise.
The COMPANY shall refund the unearned premium computed
at short rates in accordance with the standard short
rate cancellation tables if terminated by the ASSURED
or pro rata if terminated for any other reason.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 17 of 19
CONDITIONS AND
LIMITATIONS
Termination If any partner, director, trustee, or officer or
(continued) supervisory employee of an ASSURED not acting in
collusion with an EMPLOYEE learns of any dishonest act
committed by such EMPLOYEE at any time, whether in the
employment of the ASSURED or otherwise, whether or
not such act is of the type covered under this Bond,
and whether against the ASSURED or any other person or
entity, the ASSURED:
a. shall immediately remove such EMPLOYEE from a
position that would enable such EMPLOYEE to cause
the ASSURED to suffer a loss covered by this Bond;
and
b. within forty-eight (48) hours of learning that an
EMPLOYEE has committed any dishonest act, shall
notify the COMPANY, of such action and provide
full particulars of such dishonest act.
The COMPANY may terminate coverage as respects any
EMPLOYEE sixty (60) days after written notice is
received by each ASSURED INVESTMENT COMPANY and the
Securities and Exchange Commission, Washington,
D.C. of its desire to terminate this Bond as to such
EMPLOYEE.
Other Insurance 14. Coverage under this Bond shall apply only as excess
over any valid and collectible insurance, indemnity or
suretyship obtained by or on behalf of:
a. the ASSURED,
b. a TRANSPORTATION COMPANY, or
c. another entity on whose premises the loss occurred
or which employed the person causing the loss or
engaged the messenger conveying the PROPERTY
involved.
Conformity 15. If any limitation within this Bond is prohibited by
any law controlling this Bond's construction, such
limitation shall be deemed to be amended so as to
equal the minimum period of limitation provided by
such law.
Change or 16. This Bond or any instrument amending or affecting
Modification this Bond may not be changed or modified orally. No
change in or modification of this Bond shall be
effective except when made by written endorsement to
this Bond signed by an authorized representative of
the COMPANY.
If this Bond is for a sole ASSURED, no change or
modification which would adversely affect the rights of
the ASSURED shall be effective prior to sixty (60) days
after written notice has been furnished to the Securities
and Exchange Commission, Washington, D.C., by the acting
party.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 18 of 19
CONDITIONS AND
LIMITATIONS
Change or Modification If this Bond is for a joint ASSURED, no charge or
(continued) modification which would adversely affect the rights
of the ASSURED shall be effective prior to sixty (60)
days after written notice has been furnished to all
insured INVESTMENT COMPANIES and to the Securities and
Exchange Commission, Washington, D.C., by the a
COMPANY.
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 19 of 19
CHUBB & SON, DIV. OF FEDERAL INSURANCE COMPANY
AS MANAGER OF THE MEMBER INSURERS OF THE
CHUBB GROUP OF INSURANCE COMPANIES
POLICYHOLDER
DISCLOSURE NOTICE OF
TERRORISM INSURANCE
COVERAGE
(FOR POLICIES WITH NO TERRORISM EXCLUSION OR SUBLIMIT)
You are hereby notified that, under the Terrorism Risk Insurance Act of 2002
(the "Act") effective November 26, 2002, this policy makes available to you
insurance for losses arising out of certain acts of international terrorism.
Terrorism is defined as any act certified by the Secretary of the Treasury, in
concurrence with the Secretary of State and the Attorney General of the United
States, to be an act of terrorism; to be a violent act or an act that is
dangerous to human life, property or infrastructure; to have resulted in damage
within the United States, or outside the United States in the case of an air
carrier or vessel or the premises of a United States Mission; and to have been
committed by an individual or individuals acting on behalf of any foreign person
or foreign interest, as part of an effort to coerce the civilian population of
the United States or to influence the policy or affect the conduct of the United
States Government by coercion.
You should know that the insurance provided by your policy for losses caused by
acts of terrorism is partially reimbursed by the United States under the formula
set forth in the Act. Under this formula, the United States pays 90% of covered
terrorism losses that exceed the statutorily established deductible to be paid
by the insurance company providing the coverage. The portion of your policy's
annual premium that is attributable to insurance for such acts of terrorism is:
$ -0-.
If you have any questions about this notice, please contact your agent or
broker.
Form 10-02-1281 (Ed. 1/2003)
IMPORTANT NOTICE:
THE SEC REQUIRES PROOF OF YOUR FIDELITY INSURANCE POLICY
Your company is now required to file an electronic copy of your fidelity
insurance coverage (Chubb's ICAP Bond policy) to the Securities and Exchange
Commission (SEC), according to rules adopted by the SEC on June 12, 2006.
Chubb is in the process of providing your agent/broker with an electronic copy
of your insurance policy as well as instructions on how to submit this proof of
fidelity insurance coverage to the SEC. You can expect to receive this
information from your agent/broker shortly.
The electronic copy of your policy is provided by Chubb solely as a convenience
and does not affect the terms and conditions of coverage as set forth in the
paper policy you receive by mail. The terms and conditions of the policy mailed
to you, which are the same as those set forth in the electronic copy, constitute
the entire agreement between your company and Chubb.
If you have any questions, please contact your agent or broker.
Form 14-02-12160 (ed. 7/2006)
IMPORTANT NOTICE TO POLICYHOLDERS
All of the members of the Chubb Group of Insurance companies doing
business in the United States (hereinafter "Chubb") distribute their products
through licensed insurance brokers and agents ("producers"). Detailed
information regarding the types of compensation paid by Chubb to producers on US
insurance transactions is available under the Producer Compensation link located
at the bottom of the page at www.chubb.com, or by calling 1-866-588-9478.
Additional information may be available from your producer.
Thank you for choosing Chubb.
10-02-1295 (ed. 5/2007)
ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 1, 2007 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 1
To be attached to and
form a part of Bond No. 81905981
Issued to: ING FAMILY OF FUNDS
DELETING VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION
ENDORSEMENT
In consideration of the premium charged, it is agreed that this Bond is amended
as follows:
1. The paragraph titled Other Property in Section 9, Valuation, is deleted in
its entirety.
2. The third paragraph in Section 16, Change or Modification, is deleted in
its entirety and replaced with the following:
If this Bond is for a joint ASSURED, no change or modification which would
adversely affect the rights of the ASSURED shall be effective prior to
sixty (60) days after written notice has been furnished to all insured
INVESTMENT COMPANIES and the Securities and Exchange Commission,
Washington, D.C., by the COMPANY.
The title and any headings in this endorsement/rider are solely for convenience
and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.
[GRAPHICS]
17-02-2437 (12/2006) rev. Page 1
FEDERAL INSURANCE COMPANY
Endorsement No: 2
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
ARKANSAS NOTIFICATION ENDORSEMENT
It is agreed that this Bond is amended by adding to Section 13., Termination,
the following:
"No cancellation or termination of this Bond as an entirety, whether by or at
the request of the ASSURED or by the COMPANY, shall take effect prior to the
expiration of thirty (30) days after written notice of such cancellation or
termination has been filed with the Arkansas Securities Commissioner, Arkansas
Securities Division, Heritage West Building, 3rd Floor, 201 East Markham, Little
Rock, Arkansas 72201 unless an earlier date of such cancellation or termination
is approved by said Arkansas Securities Department, State of Arkansas."
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHICS]
State Amendatory - General Use Form 17-02-1343 (Rev. 1-97)
FEDERAL INSURANCE COMPANY
Endorsement No: 3
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
NAME OF ASSURED ENDORSEMENT
It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as
follows:
ING FAMILY OF FUNDS
ING CORPORATE LEADERS TRUST
ING Corporate Leaders Trust Fund
ING EQUITY TRUST
ING Financial Services Fund
ING Fundamental Research Fund
ING LargeCap Growth Fund
ING LargeCap Value Fund
ING MidCap Opportunities Fund
ING Value Choice Fund
ING Opportunistic LargeCap Fund
ING Index Plus LargeCap Equity Fund (Formerly PPF 1)
ING Index Plus LargeCap Equity Fund II (Formerly PPF 2)
ING Index Plus LargeCap Equity Fund III (Formerly PPF 3)
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Principal Protection Fund XII
ING Real Estate Fund
ING SmallCap Opportunities Fund
ING SmallCap Value Choice Fund
ING FUNDS TRUST
ING Classic Money Market Fund
ING GNMA Income Fund
ING High Yield Bond Fund
ING Institutional Prime Money Market Fund
ING Intermediate Bond Fund
ING National Tax-Exempt Bond Fund
ING MUTUAL FUNDS
ING Disciplined International SmallCap Fund
ING Diversified International Fund
ING Emerging Countries Fund
ICAP Bond
Form 17-02-0949 (Rev. 1-97) Page 1
ING Emerging Markets Fixed Income Fund
ING Foreign Fund
ING Global Bond Fund
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING Global Value Choice Fund
ING Greater China Fund
ING Index Plus International Equity Fund
ING International Capital Appreciation Fund
ING International Equity Dividend Fund
ING International Real Estate Fund
ING International SmallCap Fund
ING International Value Choice Fund
ING Global Natural Resources Fund (formerly ING Precious Metals Fund)
ING Russia Fund
ING International Growth Opportunities Fund
ING International Value Opportunities Fund
ING MAYFLOWER TRUST
ING International Value Fund
ING INVESTMENT FUNDS, INC.
ING MagnaCap Fund
ING SEPARATE PORTFOLIOS TRUST
ING Sports Core Fixed Income Fund
ING Sports Core Plus Fixed Income Fund
ING PRIME RATE TRUST
ING Prime Rate Trust
ING SENIOR INCOME FUND
ING Senior Income Fund
ING ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND
ING Asia Pacific High Dividend Equity Income Fund
ING GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND
ING Global Equity Dividend and Premium Opportunity Fund
ING GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND
ING Global Advantage and Premium Opportunity Fund
ING RISK MANAGED NATURAL RESOURCES FUND
ING Risk Managed Natural Resources Fund
ING VP NATURAL RESOURCES TRUST
ING VP Natural Resources Trust
ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 2
ING VARIABLE INSURANCE TRUST
ING VP Global Equity Dividend Portfolio
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Portfolio - Series 7
ING GET U.S. Core Portfolio - Series 8
ING GET U.S. Core Portfolio - Series 9
ING GET U.S. Core Portfolio - Series 10
ING GET U.S. Core Portfolio - Series 11
ING GET U.S. Core Portfolio - Series 12
ING GET U.S. Core Portfolio - Series 13
ING GET U.S. Core Portfolio - Series 14
ING VARIABLE PRODUCTS TRUST
ING VP Financial Services Portfolio
ING VP High Yield Bond Portfolio
ING VP International Value Portfolio
ING VP MidCap Opportunities Portfolio
ING VP Real Estate Portfolio
ING VP SmallCap Opportunities Portfolio
ING INVESTORS TRUST
ING AllianceBernstein Mid Cap Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds Growth Portfolio
ING American Funds International Portfolio
ING BlackRock Inflation Protected Bond Portfolio
ING BlackRock Large Cap Growth Portfolio
ING BlackRock Large Cap Value Portfolio
ING Capital Guardian U.S. Equities Portfolio
ING Disciplined Small Cap Value Portfolio
ING EquitiesPlus Portfolio
ING Evergreen Health Sciences Portfolio
ING Evergreen Omega Portfolio
ING FMR Diversified Mid Cap Portfolio
ING FMR Large Cap Growth Portfolio
ING FMR Mid Cap Growth Portfolio
ING Franklin Income Fund
ING Franklin Mutual Shares Portfolio
ING Franklin Templeton Founding Strategy Portfolio
ING Global Real Estate Portfolio
ING Global Resources Portfolio
ING Global Technology Portfolio
ING International Growth Opportunities Portfolio
ING Janus Contrarian Portfolio
ING JPMorgan Emerging Markets Equity Portfolio
ING JPMorgan Small Cap Core Equity Portfolio
ING JPMorgan Value Opportunities Portfolio
ING Julius Baer Foreign Portfolio
ING Legg Mason Value Portfolio
ING Lifestyle Aggressive Growth Portfolio
ING Lifestyle Growth Portfolio
ING Lifestyle Moderate Growth Portfolio
ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 3
ING Lifestyle Moderate Portfolio
ING Limited Maturity Bond Portfolio
ING Liquid Assets Portfolio
ING Lord Abbett Affiliated Portfolio
ING MarketPro Portfolio
ING MarketStyle Growth Portfolio
ING MarketStyle Moderate Growth Portfolio
ING MarketStyle Moderate Portfolio
ING Marsico Growth Portfolio
ING Marsico International Opportunities Portfolio
ING MFS Total Return Portfolio
ING MFS Utilities Portfolio
ING Oppenheimer Main Street Portfolio
ING PIMCO Core Bond Portfolio
ING PIMCO High Yield Portfolio
ING Pioneer Equity Income Portfolio
ING Pioneer Fund Portfolio
ING Pioneer Mid Cap Value Portfolio
ING Stock Index Portfolio
ING T. Rowe Price Capital Appreciation Portfolio
ING T. Rowe Price Equity Income Portfolio
ING Templeton Global Growth Portfolio
ING UBS U.S. Allocation Portfolio
ING Van Kampen Capital Growth Portfolio
ING Van Kampen Global Franchise Portfolio
ING Van Kampen Growth and Income Portfolio
ING Van Kampen Real Estate Portfolio
ING VP Index Plus International Equity Portfolio
ING Wells Fargo Disciplined Value Portfolio
ING Wells Fargo Small Cap Disciplined Portfolio
ING PARTNERS, INC.
ING American Century Large Company Value Portfolio
ING American Century Small-Mid Cap Value Portfolio
ING Baron Asset Portfolio
ING Baron Small Cap Growth Portfolio
ING Columbia Small Cap Value II Portfolio
ING Davis Venture Value Portfolio
ING Fidelity VIP Contrafund Portfolio
ING Fidelity VIP Equity-Income Portfolio
ING Fidelity VIP Growth Portfolio
ING Fidelity VIP Mid Cap Portfolio
ING Fundamental Research Portfolio
ING JPMorgan International Portfolio
ING JPMorgan Mid Cap Value Portfolio
ING Legg Mason Partners Aggressive Growth Portfolio
ING Legg Mason Partners Large Cap Growth Portfolio
ING Lord Abbett U.S. Government Securities Portfolio
ING Neuberger Berman Partners Portfolio
ING Neuberger Berman Regency Portfolio
ING OpCap Balanced Value Portfolio
ING Oppenheimer Global Portfolio
ING Oppenheimer Strategic Income Portfolio
ING PIMCO Total Return Portfolio
ING Pioneer High Yield Portfolio
ING Solution 2015 Portfolio
ING Solution 2025 Portfolio
ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 4
ING Solution 2035 Portfolio
ING Solution 2045 Portfolio
ING Solution Growth and Income Portfolio
ING Solution Growth Portfolio
ING Solution Income Portfolio
ING T. Rowe Price Diversified Mid Cap Portfolio
ING T. Rowe Price Growth Equity Portfolio
ING Templeton Foreign Equity Portfolio
ING Thornburg Value Portfolio
ING UBS U.S. Large Cap Equity Portfolio
ING UBS U.S. Small Cap Growth Portfolio
ING Van Kampen Comstock Portfolio
ING Van Kampen Equity and Income Portfolio
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHICS]
ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 5
FEDERAL INSURANCE COMPANY
Endorsement No: 4
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
AMEND NAME OF ASSURED ENDORSEMENT
It is agreed that NAME OF ASSURED of the DECLARATIONS for this Bond is amended
to include the following:
Any Investment Company registered under the Investment Company Act of 1940 and
created during the Bond Period
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
ICAP Bond
Form 17-02-6272 (Ed. 8-04) Page 1
FEDERAL INSURANCE COMPANY
Endorsement No: 5
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
PREMIUM ENDORSEMENT
It is agreed that:
1. The premium for this Bond for the period October 1, 2007 to October 1, 2008
is:
Premium: Eighty Five Thousand Dollars ($85,000.00)
2. It is further agreed that this premium is subject to change during this
period if amendments are made to this Bond at the request of the ASSURED.
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
ICAP Bond
Form 17-02-0735 (Rev. 1-97)
FEDERAL INSURANCE COMPANY
Endorsement No: 6
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
GENERAL TERMINATION ENDORSEMENT
It is agreed that this Bond is amended by adding to Section 13., Termination,
the following:
No termination of this Bond as an entirety by the COMPANY shall take effect
prior to the expiration of ninety (90) days after written notice of such
termination has been mailed to:
Midwest Stock Exchange
Commissioner of Securities, Office of the Secretary of State, Securities
Division, 8th Floor, Truman State Office Building, Jefferson City, Missouri
65101.
If the Bond as an entirety terminates based on the occurrence of any of the
events described in a., b., or c. of the third paragraph of this Section 13.,
the COMPANY shall endeavor to provide written notice as soon as practicable of
such termination to:
Midwest Stock Exchange
Commissioner of Securities, Office of the Secretary of State, Securities
Division, 8th Floor,
Truman State Office Building, Jefferson City, Missouri 65101.
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
ICAP Bond
Form 17-02-7052 (Ed. 4-05) Page 1
FEDERAL INSURANCE COMPANY
Endorsement No.: 7
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
CLAIMS EXPENSE ENDORSEMENT
It is agreed that this Bond is amended as follows:
1. By adding the following INSURING CLAUSE:
12. Claims Expense
Reasonable expense incurred by the ASSURED, solely for
independent firms or individuals to determine the amount of loss
where:
(1) the loss is covered under the Bond, and
(2) the loss is in excess of the applicable DEDUCTIBLE AMOUNT.
2. Under General Exclusions-Applicable To All Insuring Clauses, Section 2.f.
does not apply to loss covered under this INSURING CLAUSE.
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
ICAP Bond
Form 17-02-6282 (Ed. 11-04)
Effective date of
this endorsement: October 1, 2007 FEDERAL INSURANCE COMPANY
Endorsement No.: 8
To be attached to and form a part of Bond
Number: 81905981
Issued to: ING FAMILY OF FUNDS
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS RIDER
It is agreed that this insurance does not apply to the extent that trade or
economic sanctions or other laws or regulations prohibit the coverage provided
by this insurance.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
Form 14-02-9228 (Ed. 4/2004)
FEDERAL INSURANCE COMPANY
Endorsement No.: 9
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
STOP PAYMENT ORDER OR REFUSAL TO PAY CHECK ENDORSEMENT
It is agreed that this Bond is amended as follows:
1. By adding the following INSURING CLAUSE:
13. Stop Payment Order or Refusal to Pay Check
Loss resulting directly from the ASSURED being legally liable to pay
compensatory damages for:
a. complying or failing to comply with notice from any customer of
the ASSURED or any authorized representative of such customer, to
stop payment on any check or draft made or drawn upon or against
the ASSURED by such customer or by any authorized representative
of such customer, or
b. refusing to pay any check or draft made or drawn upon or against
the ASSURED by any customer of the ASSURED or by any authorized
representative of such customer.
2. By adding the following Specific Exclusion:
Section 4.A. Specific Exclusions : Applicable to INSURING CLAUSE 13
THIS BOND DOES NOT DIRECTLY OR INDIRECTLY COVER:
a. liability assumed by the ASSURED by agreement under any contract,
unless such liability would have attached to the ASSURED even in the
absence of such agreement,
b. loss arising out of:
(1) libel, slander, wrongful entry, eviction, defamation, false
arrest, false imprisonment, malicious prosecution, assault or
battery,
(2) sickness, disease, physical bodily harm, mental or emotional
distress or anguish, or death of any person, or
(3) discrimination.
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
ICAP Bond
Form 17-02-2365 (Ed. 10-00)
FEDERAL INSURANCE COMPANY
Endorsement No.: 10
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
EXTENDED COMPUTER SYSTEMS ENDORSEMENT
It is agreed that this Bond is amended as follows:
1. By adding the following INSURING CLAUSE:
14. Extended Computer Systems
A. Electronic Data, Electronic Media, Electronic Instruction
Loss resulting directly from:
(1) the fraudulent modification of ELECTRONIC DATA, ELECTRONIC MEDIA or
ELECTRONIC INSTRUCTION being stored within or being run within any
system covered under this INSURING CLAUSE,
(2) robbery, burglary, larceny or theft of ELECTRONIC DATA, ELECTRONIC
MEDIA or ELECTRONIC INSTRUCTIONS,
(3) the acts of a hacker causing damage or destruction of ELECTRONIC DATA,
ELECTRONIC MEDIA or ELECTRONIC INSTRUCTION owned by the ASSURED or for
which the ASSURED is legally liable, while stored within a COMPUTER
SYSTEM covered under this INSURING CLAUSE, or
(4) the damage or destruction of ELECTRONIC DATA, ELECTRONIC MEDIA or
ELECTRONIC INSTRUCTION owned by the ASSURED or for which the ASSURED
is legally liable while stored within a COMPUTER SYSTEM covered under
INSURING CLAUSE 14, provided such damage or destruction was caused by
a computer program or similar instruction which was written or altered
to intentionally incorporate a hidden instruction designed to damage
or DESTROY ELECTRONIC DATA, ELECTRONIC MEDIA, or ELECTRONIC
INSTRUCTION in the COMPUTER SYSTEM in which the computer program or
instruction so written or so altered is used.
ICAP2 Bond
Form 17-02-2976 (Ed. 1-02) Page 1
B. Electronic Communication
Loss resulting directly from the ASSURED having transferred, paid or
delivered any funds or property, established any credit, debited any
account or given any value on the faith of any electronic communications
directed to the ASSURED, which were transmitted or appear to have been
transmitted through:
(1) an ELECTRONIC COMMUNICATION SYSTEM,
(2) an automated clearing house or custodian, or
(3) a Telex, TWX, or similar means of communication,
directly into the ASSURED'S COMPUTER SYSTEM or COMMUNICATION TERMINAL, and
fraudulently purport to have been sent by a customer, automated clearing
house, custodian, or financial institution, but which communications were
either not sent by said customer, automated clearing house, custodian, or
financial institution, or were fraudulently modified during physical
transit of ELECTRONIC MEDIA to the ASSURED or during electronic
transmission to the ASSURED'S COMPUTER SYSTEM or COMMUNICATION TERMINAL.
C. Electronic Transmission
Loss resulting directly from a customer of the ASSURED, any automated
clearing house, custodian, or financial institution having transferred,
paid or delivered any funds or property, established any credit, debited
any account or given any value on the faith of any electronic
communications, purporting to have been directed by the ASSURED to such
customer, automated clearing house, custodian, or financial institution
initiating, authorizing, or acknowledging, the transfer, payment, delivery
or receipt of funds or property, which communications were transmitted
through:
(1) an ELECTRONIC COMMUNICATION SYSTEM,
(2) an automated clearing house or custodian, or
(3) a Telex, TWX, or similar means of communication,
directly into a COMPUTER SYSTEM or COMMUNICATION TERMINAL of said customer,
automated clearing house, custodian, or financial institution, and
fraudulently purport to have been directed by the ASSURED, but which
communications were either not sent by the ASSURED, or were fraudulently
modified during physical transit of ELECTRONIC MEDIA from the ASSURED or
during electronic transmission from the ASSURED'S Computer System or
COMMUNICATION TERMINAL, and for which loss the ASSURED is held to be
legally liable.
ICAP2 Bond
Form 17-02-2976 (Ed. 1-02) Page 2
2. By adding to Section 1., Definitions, the following:
r. COMMUNICATION TERMINAL means a teletype, teleprinter or video display
terminal, or similar device capable of sending or receiving
information electronically. Communication Terminal does not mean a
telephone.
s. ELECTRONIC COMMUNICATION SYSTEM means electronic communication
operations by Fedwire, Clearing House Interbank Payment System
(CHIPS), Society of Worldwide International Financial
Telecommunication (SWIFT), similar automated interbank communication
systems, and Internet access facilities.
t. ELECTRONIC DATA means facts or information converted to a form usable
in COMPUTER SYSTEMS and which is stored on ELECTRONIC MEDIA for use by
computer programs.
u. ELECTRONIC INSTRUCTION means computer programs converted to a form
usable in a COMPUTER SYSTEM to act upon ELECTRONIC DATA.
v. ELECTRONIC MEDIA means the magnetic tape, magnetic disk, optical disk,
or any other bulk media on which data is recorded.
3. By adding the following Section after Section 4., Specific
Exclusions-Applicable to All INSURING CLAUSES except 1., 4., and 5.:
Section 4.A. Specific Exclusions-Applicable to INSURING CLAUSE 14
THIS BOND DOES NOT DIRECTLY OR INDIRECTLY COVER:
a. loss resulting directly or indirectly from FORGED, altered or
fraudulent negotiable instruments, securities, documents or written
instruments used as source documentation in the preparation of
ELECTRONIC DATA;
b. loss of negotiable instruments, securities, documents or written
instruments except as converted to ELECTRONIC DATA and then only in
that converted form;
c. loss resulting from mechanical failure, faulty construction, error in
design, latent defect, wear or tear, gradual deterioration, electrical
disturbance, ELECTRONIC MEDIA failure or breakdown or any malfunction
or error in programming or error or omission in processing;
d. loss resulting directly or indirectly from the input of ELECTRONIC
DATA at an authorized electronic terminal of an ELECTRONIC FUNDS
TRANSFER SYSTEM or a CUSTOMER COMMUNICATION SYSTEM by a person who had
authorized access from a customer to that customer's authentication
mechanism; or
e. liability assumed by the ASSURED by agreement under any contract,
unless such liability would have attached to the ASSURED even in the
absence of such agreement; or
f. loss resulting directly or indirectly from:
(1) written instruction unless covered under this INSURING CLAUSE; or
(2) instruction by voice over the telephone, unless covered under
this INSURING CLAUSE.
ICAP2 Bond
Form 17-02-2976 (Ed. 1-02) Page 3
4. By adding to Section 9., Valuation, the following:
Electronic Data, Electronic Media, Or Electronic Instruction
In case of loss of, or damage to, ELECTRONIC DATA, ELECTRONIC MEDIA or
ELECTRONIC INSTRUCTION used by the ASSURED in its business, the COMPANY
shall be liable under this Bond only if such items are actually reproduced
form other ELECTRONIC DATA, ELECTRONIC MEDIA or ELECTRONIC INSTRUCTION of
the same kind or quality and then for not more than the cost of the blank
media and/or the cost of labor for the actual transcription or copying of
data which shall have been furnished by the ASSURED in order to reproduce
such ELECTRONIC DATA, ELECTRONIC MEDIA or ELECTRONIC INSTRUCTION subject to
the applicable SINGLE LOSS LIMIT OF LIABILITY.
However, if such ELECTRONIC DATA can not be reproduced and said ELECTRONIC
DATA REPRESENTS SECURITIES or financial instruments having a value, then
the loss will be valued as indicated in the SECURITIES and OTHER PROPERTY
paragraphs of this Section.
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
ICAP2 Bond
Form 17-02-2976 (Ed. 1-02) Page 4
FEDERAL INSURANCE COMPANY
Endorsement No.: 11
Bond Number: 81905981
NAME OF ASSURED: ING FAMILY OF FUNDS
AMEND DISCOVERY ENDORSEMENT
It is agreed that this Bond is amended by deleting Section 6., Discovery, in its
entirety and substituting the following:
6. Discovery
This Bond applies only to loss first discovered by the Risk Management
Department, Senior Vice President, or above of the ASSURED during the BOND
PERIOD. Discovery occurs at the earlier of the Risk Management Department,
Senior Vice President, or above of the ASSURED being aware of:
a. facts which may subsequently result in a loss of a type covered by this
Bond, or
b. an actual or potential claim in which it is alleged that the ASSURED is
liable to a third party, regardless of when the act or acts causing or
contributing to such loss occurred, even though the amount of loss does not
exceed the applicable DEDUCTIBLE AMOUNT, or the exact amount or details of
loss may not then be known.
This Endorsement applies to loss discovered after 12:01 a.m. on October 1, 2007.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 18, 2007
[GRAPHIC]
ICAP Bond
Form 17-02-6260 (Ed. 6-04)
ENDORSEMENT/RIDER
Effective date of
this endorsement/rider: October 1, 2007 FEDERAL INSURANCE COMPANY
Endorsement/Rider No. 12
To be attached to and
form a part of Bond No. 81905981
Issued to: ING FAMILY OF FUNDS
AMEND NOTICE TO COMPANY ENDORSEMENT
In consideration of the premium charged, it is agreed Section 7., Notice to
Company-Proof-Legal Proceedings Against Company, of the Conditions and
Limitations, is amended by deleting paragraph a. and replacing it with the
following:
a. The Risk Management Department, Senior Vice President, or above of the
ASSURED shall give the COMPANY notice thereof at the earliest
practicable moment, not to exceed ninety (90) days after discovery of
loss, in an amount that is in excess of 50% of the applicable
DEDUCTIBLE AMOUNT, as stated in ITEM 2. of the DECLARATIONS.
The title and any headings in this endorsement/rider are solely for convenience
and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.
[GRAPHIC]
Q07-2394 (10/2007) Page 1
APPROVAL OF INVESTMENT COMPANY BLANKET BOND
INSURANCE POLICY RENEWAL
PROPOSED RESOLUTIONS
RESOLVED, that it is the determination of the Directors/Trustees,
including a majority of those Directors/Trustees who are not parties to the
Investment Company Blanket Bond insurance (the "17g-1 Bond") written by Chubb
Group of Insurance Companies, nor "interested persons" as defined by the
Investment Company Act of 1940 (the "1940 Act") of any such party, that the
17g-1 Bond insuring each and all of the ING Funds (the "Funds") for covered acts
and omissions of their respective officers and Directors/Trustees and the
officers and employees of ING Investments, LLC and Directed Services, LLC and
their affiliates, in accordance with the requirements of Rule 17g-1 promulgated
by the SEC under 17(g) of the 1940 Act, is reasonable in form and amount after
having given due consideration to all relevant factors, including, but not
limited to, the value of the aggregate assets of each of the Funds to which any
such covered person may have access, the type and terms of the arrangements made
for the custody and safekeeping of such assets, the nature of the securities in
each of the Fund's portfolios, the number of other parties named as insured
parties under the Bonds, and the nature of the business activities of such other
parties; and
FURTHER RESOLVED, that the terms of the 17g-1 Bond as presented at this
Meeting, be, and hereby is, continued until October 1, 2008, for and on behalf
of each of the Funds, with such changes as the officers may deem necessary as a
result of negotiations with the Insurance Company, provided such changes are in
accord with the requirements of Rule 17g-1; and
FURTHER RESOLVED, that the Directors/Trustees, including a majority of
those Directors/Trustees who are not parties to the 17g-1 Bond nor "interested
persons" as defined in the 1940 Act of any such party, hereby approve the
continued payment by ING Investments, LLC and Directed Services, LLC for
pro-rata share of each of the Funds, as applicable, based on assets of the
respective covered funds, of the projected premium for coverage under the 17g-1
Bond, having given due consideration to all relevant factors, including, but not
limited to, the number of other parties named as insured parties under the
Bonds, the nature of the business activities of such other parties, the amount
of the Bonds, the amount of the projected premium for the Bonds, the ratable
allocation of the projected premium among all the parties named as insureds, and
the extent to which the share of the projected premium allocated to each of the
Funds is less than the projected premium that any individual Fund would have
had to pay if it had provided and maintained a single insured bond.
EXHIBIT A
ING FUNDS SERVICES, LLC
FIDELITY BOND ANALYSIS
JULY 17, 2007
GROSS MINIMUM
ASSET SIZE BONDING
NAME OF FUND CLASSIFICATION REQUIREMENT
------------ -------------- -----------
ING CORPORATE LEADERS TRUST $ 457,770,357 250,000,000 to 500,000,000 750,000
---------------
ING Corporate Leaders Trust Fund $ 457,770,357
ING EQUITY TRUST $ 5,911,294,585 over 4,000,000,000 2,500,000
---------------
ING Financial Services Fund $ 2,983,352,914
ING Fundamental Research Fund $ 39,501,060
ING LargeCap Growth Fund $ 255,964,388
ING LargeCap Value Fund $ 111,253,052
ING MidCap Opportunities Fund $ 295,595,548
ING Value Choice Fund $ 360,552,610
ING Opportunistic LargeCap Fund $ 8,388,671
ING Index Plus LargeCap Equity Fund (Formerly PPF 1) $ 44,868,541
ING Index Plus LargeCap Equity Fund II (Formerly PPF 2) $ 70,174,654
ING Index Plus LargeCap Equity Fund II (Formerly PPF 3) $ 68,737,433
ING Principal Protection Fund IV $ 307,224,167
ING Principal Protection Fund V $ 238,064,808
ING Principal Protection Fund VI $ 216,894,227
ING Principal Protection Fund VII $ 107,217,996
ING Principal Protection Fund VIII $ 65,749,270
ING Principal Protection Fund IX $ 50,321,851
ING Principal Protection Fund X $ 40,286,610
ING Principal Protection Fund XI $ 27,358,716
ING Principal Protection Fund XII $ 13,329,341
ING Real Estate Fund $ 349,558,341
ING SmallCap Opportunities Fund $ 150,331,490
ING SmallCap Value Choice Fund $ 106,568,897
ING FUNDS TRUST $ 4,071,391,895 over 4,000,000,000 2,500,000
---------------
ING Classic Money Market Fund $ 983,783,486
ING GNMA Income Fund $ 595,493,642
ING High Yield Bond Fund $ 149,846,606
ING Institutional Prime Money Market Fund $ 1,127,889,240
ING Intermediate Bond Fund $ 1,187,249,452
ING National Tax-Exempt Bond Fund $ 27,129,469
EXHIBIT A
ING MUTUAL FUNDS $ 7,263,272,794 over 4,000,000,000 2,500,000
---------------
ING Disciplined International SmallCap Fund $ 358,553,918
ING Diversified International Fund $ 502,087,434
ING Emerging Countries Fund $ 325,943,587
ING Emerging Markets Fixed Income Fund $ 259,532,096
ING Foreign Fund $ 676,652,407
ING Global Bond Fund $ 27,016,339
ING Global Equity Dividend Fund $ 403,614,219
ING Global Natural Resources $ 144,999,217
ING Global Real Estate Fund $ 1,429,983,587
ING Global Value Choice Fund $ 128,599,622
ING Greater China Fund $ 58,194,849
ING Index Plus International Equity Fund $ 103,634,045
ING International Capital Appreciation Fund $ 122,991,234
ING International Equity Dividend Fund $ 10,607,171
ING International Growth Opportunities Fund $ 139,253,629
ING International Real Estate Fund $ 416,817,187
ING International SmallCap Fund $ 1,147,299,279
ING International Value Choice Fund $ 111,968,609
ING International Value Opportunities $ 10,738,775
ING Russia Fund $ 884,785,590
ING MAYFLOWER TRUST $ 5,666,342,683 over 4,000,000,000 2,500,000
---------------
ING International Value Fund $ 5,666,342,683
ING INVESTMENT FUNDS, INC. $ 381,067,497 250,000,000 to 500,000,000 750,000
---------------
ING MagnaCap Fund $ 381,067,497
ING SEPARATE PORTFOLIOS TRUST $ 14,109,781 10,000,000 to 15,000,000 200,000
---------------
ING SPorts Core Fixed Income Fund $ 4,107,105
ING Sports Core Plus Fixed Income Fund $ 10,002,676
ING PRIME RATE TRUST $ 1,899,792,168 1,500,000,000 to 2,000,000,000 1,500,000
---------------
ING Prime Rate Trust $ 1,899,792,168
ING SENIOR INCOME FUND $ 2,327,704,938 2,000,000,000 to 2,500,000,000 1,700,000
---------------
ING Senior Income Fund $ 2,327,704,938
ING ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND $ 330,561,939 250,000,000 to 500,000,000 750,000
---------------
ING Asia Pacific High Dividend Equity Income Fund $ 330,561,939
ING GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND $ 2,001,164,657 2,000,000,000 to 2,500,000,000 1,700,000
---------------
ING Global Equity Dividend and Premium Opportunity Fund $ 2,001,164,657
EXHIBIT A
ING GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND $ 401,546,229 250,000,000 to 500,000,000 750,000
---------------
ING Global Advantage and Premium Opportunity Fund $ 401,546,229
ING RISK MANANGED NATURUAL RESOURCES FUND $ 459,708,857 250,000,000 to 500,000,000 750,000
---------------
ING Risk Managed Natural Resources Fund $ 459,708,857
ING VP NATURAL RESOURCES TRUST $ 119,198,919 100,000,000 to 150,000,000 525,000
---------------
ING VP Natural Resources Trust $ 119,198,919
ING VARIABLE INSURANCE TRUST $ 936,289,658 750,000,000 to 1,000,000,000 1,000,000
---------------
ING VP Global Equity Dividend Portfolio $ 61,283,068
ING GET U.S. Core Portfolio - Series 1 $ 103,323,176
ING GET U.S. Core Portfolio - Series 2 $ 77,232,189
ING GET U.S. Core Portfolio - Series 3 $ 108,602,898
ING GET U.S. Core Portfolio - Series 4 $ 49,712,550
ING GET U.S. Core Portfolio - Series 5 $ 35,128,884
ING GET U.S. Core Portfolio - Series 6 $ 71,191,325
ING GET U.S. Core Portfolio - Series 7 $ 49,826,084
ING GET U.S. Core Portfolio - Series 8 $ 31,642,749
ING GET U.S. Core Portfolio - Series 9 $ 24,021,791
ING GET U.S. Core Portfolio - Series 10 $ 25,514,180
ING GET U.S. Core Portfolio - Series 11 $ 28,570,424
ING GET U.S. Core Portfolio - Series 12 $ 52,890,321
ING GET U.S. Core Portfolio - Series 13 $ 78,809,224
ING GET U.S. Core Portfolio - Series 14 $ 138,540,795
ING VARIABLE PRODUCTS TRUST $ 1,270,661,552 1,000,000,000 to 1,500,000,000 1,250,000
---------------
ING VP Financial Services Portfolio $ 88,820,826
ING VP High Yield Bond Portfolio $ 88,505,430
ING VP International Value Portfolio $ 559,020,298
ING VP MidCap Opportunities Portfolio $ 110,143,711
ING VP Real Estate Portfolio $ 212,509,199
ING VP SmallCap Opportunities Portfolio $ 211,662,088
ING INVESTORS TRUST $47,247,343,053 Over 4,000,000,000 2,500,000
---------------
ING AllianceBernstein Mid Cap Growth Portfolio $ 640,100,874
ING American Funds Growth -Income Portfolio $ 1,641,458,449
ING American Funds Growth Portfolio $ 2,376,624,909
ING American Funds International Portfolio $ 1,384,986,388
ING BlackRock Inflation Protected Bond Portfolio $ 175,868,128
ING BlackRock Large Cap Growth Portfolio $ 490,170,561
ING BlackRock Large Cap Value Portfolio $ 190,054,358
ING Capital Guardian U.S Equities Portfolio $ 581,200,039
ING Disciplined Small Cap Value Portfolio $ 182,555,254
ING EquitiesPlus Portfolio $ 124,516,514
ING Evergreen Health Sciences Portfolio $ 216,233,223
EXHIBIT A
ING Evergreen Omega Portfolio $ 212,739,281
ING FMR Diversified Mid Cap Portfolio $ 1,342,324,086
ING FMR Large Cap Growth Portfolio $ 630,959,933
ING FMR Mid Cap Growth Portfolio $ 532,298,045
ING Franklin Income Fund $ 380,927,298
ING Franklin Mutual Shares Portfolio $ 104,593,067
ING Franklin Templeton Founding Strategy Portfolio $ 107,520,285
ING Global Real Estate Portfolio $ 246,646,267
ING Global Resources Portfolio $ 930,341,435
ING Global Technology Portfolio $ 97,209,887
ING International Growth Opportunities Portfolio $ 185,384,141
ING Janus Contrarian Portfolio $ 738,469,565
ING JPMorgan Emerging Markets Equity Portfolio $ 1,062,797,966
ING JPMorgan Small Cap Core Equity Portfolio $ 483,225,139
ING JPMorgan Value Opportunities Portfolio $ 389,174,427
ING Julius Baer Foreign Portfolio $ 2,199,362,863
ING Legg Mason Value Portfolio $ 992,139,090
ING Lifestyle Aggressive Growth Portfolio $ 1,396,262,777
ING Lifestyle Growth Portfolio $ 3,541,909,582
ING Lifestyle Moderate Growth Portfolio $ 2,700,917,662
ING Lifestyle Moderate Portfolio $ 1,195,543,923
ING Limited Maturity Bond Portfolio $ 676,486,426
ING Liquid Assets Portfolio $ 1,195,888,234
ING Lord Abbett Affiliated Portfolio $ 175,983,607
ING MarketPro Portfolio $ 45,376,708
ING MarketStyle Growth Portfolio $ 13,819,626
ING MarketStyle Moderate Growth Portfolio $ 12,934,125
ING MarketStyle Moderate Portfolio $ 4,284,271
ING Marsico Growth Portfolio $ 937,117,622
ING Marsico International Opportunities Portfolio $ 439,676,536
ING MFS Total Return Portfolio $ 1,601,138,632
ING MFS Utilities Portfolio $ 491,976,236
ING Oppenheimer Main Street Portfolio $ 554,466,128
ING PIMCO Core Bond Portfolio $ 1,524,933,141
ING PIMCO High Yield Portfolio $ 745,945,090
ING Pioneer Equity Income Portfolio $ 1,099,572
ING Pioneer Fund Portfolio $ 136,631,140
ING Pioneer Mid Cap Value Portfolio $ 990,668,109
ING Stock Index Portfolio $ 473,579,957
ING T. Rowe Price Capital Appreciation Portfolio $ 3,491,630,314
ING T. Rowe Price Equity Income Portfolio $ 1,551,466,537
ING Templeton Global Growth Portfolio $ 568,101,822
ING UBS U.S. Allocation Portfolio $ 111,548,865
ING Van Kampen Capital Growth Portfolio $ 107,681,978
ING Van Kampen Global Franchise Portfolio $ 463,188,274
ING Van Kampen Growth and Income Portfolio $ 1,110,401,871
EXHIBIT A
ING Van Kampen Real Estate Portfolio $ 1,191,689,373
ING VP Index Plus International Equity Portfolio $ 681,451,751
ING Wells Fargo Disciplined Value Portfolio $ 280,838,897
ING Wells Fargo Small Cap Disciplined Portfolio $ 192,822,795
ING PARTNERS, INC. $16,587,238,302 over 4,000,000,000 2,500,000
---------------
ING American Century Large Company Value Portfolio $ 120,275,341
ING American Century Small-Mid Cap Value Portfolio $ 112,520,141
ING Baron Asset Portfolio $ 28,215,523
ING Baron Small Cap Growth Portfolio $ 482,220,525
ING Columbia Small Cap Value II Portfolio $ 157,683,210
ING Davis Venture Value Portfolio $ 290,350,586
ING Fidelity VIP Contrafund Portfolio $ 329,985,563
ING Fidelity VIP Equity-Income Portfolio $ 51,035,276
ING Fidelity VIP Growth Portfolio $ 27,492,943
ING Fidelity VIP Mid Cap Portfolio $ 65,834,167
ING Fundamental Research Portfolio $ 93,038,766
ING JPMorgan International Portfolio $ 759,687,004
ING JPMorgan Mid Cap Value Portfolio $ 288,625,995
ING Legg Mason Partners Aggressive Growth Portfolio $ 1,365,849,848
ING Legg Mason Partners Large Cap Growth Portfolio $ 40,746,731
ING Lord Abbett U.S. Government Securities Portfolio $ 43,160,580
ING Neuberger Berman Partners Portfolio $ 454,369,830
ING Neuberger Berman Regency Portfolio $ 21,848,891
ING OpCap Balanced Value Portfolio $ 81,032,882
ING Oppenheimer Global Portfolio $ 2,932,729,524
ING Oppenheimer Strategic Income Portfolio $ 446,999,443
ING PIMCO Total Return Portfolio $ 391,001,966
ING Pioneer High Yield Portfolio $ 116,879,274
ING Solution 2015 Portfolio $ 451,975,127
ING Solution 2025 Portfolio $ 683,304,301
ING Solution 2035 Portfolio $ 546,490,267
ING Solution 2045 Portfolio $ 297,859,821
ING Solution Growth and Income Portfolio $ 3,050
ING Solution Growth Portfolio $ 3,061
ING Solution Income Portfolio $ 138,452,487
ING T. Rowe Price Diversified Mid Cap Portfolio $ 1,162,722,965
ING T. Rowe Price Growth Equity Portfolio $ 1,597,246,551
ING Templeton Foreign Equity Portfolio $ 106,323,295
ING Thornburg Value Portfolio $ 221,850,023
ING UBS U.S. Large Cap Equity Portfolio $ 469,950,416
ING UBS U.S. Small Cap Growth Portfolio $ 33,620,464
ING Van Kampen Comstock Portfolio $ 1,135,437,895
ING Van Kampen Equity and Income Portfolio $ 1,040,414,570
MINIMUM BOND REQUIREMENT 26,625,000
PRESENT COVERAGE 30,000,000
RESERVE 3,375,000
TOTAL ASSETS COVERED $97,346,459,864
ALLOCATION AGREEMENT
FIDELITY BOND
THIS AGREEMENT made as of this 24th day of May, 2002 by and among any of the
Funds listed on Schedule A and any separate classes thereof and all future
investment companies and any separate classes thereof (the "Funds"), which are
named insureds under a joint liability policy as described below and for which
ING Investments, LLC acts as investment manager are entered into under the
following circumstances:
A. Section 17(g) of the Investment Company Act of 1940, as amended ("the
1940 Act") provides that the Securities and Exchange Commission ("SEC") is
authorized to require that directors, officers and employees of registered
investment companies be covered under a liability, errors and omissions
insurance policy, and the SEC has promulgated rules and regulations dealing with
this subject ("Rule 17g-l");
B. The Funds are named as joint insureds under the terms of a joint
insurance policy ("Policy") which insures against illegal profit or gain,
intentional wrongful acts, libel, slander, defamation, ERISA claims, insider
trading, as well as other coverage as outlined in the Policy, by the directors,
officers and employees;
C. A majority of those members of the Board of Directors/Trustees of each
of the Funds, who are not "interested persons" as defined by Section 2(a)(19) of
the 1940 Act, have given due consideration to all factors relevant to the form,
amount and apportionment of premiums and recoveries under such Policy and the
Board of Directors/Trustees of each Fund has approved the term and amount of the
Policy, the portion of the premium payable by that party, and the manner in
which recovery on the Policy, if any, shall be shared by and among the parties
thereto; and
D. The Funds now desire to enter into the agreement required by Rule 17g-l
of the 1940 Act to establish the manner in which recovery under the Policy, if
any, shall be shared.
NOW, THEREFORE, IT IS HEREBY AGREED by and among the parties as follows:
1. Payment of Premiums.
Each Fund shall pay a portion of the premium due under the Policy
derived by multiplying the premium by a fraction, (i) the denominator of which
is the total net assets of all the Funds combined and (ii) the numerator of
which is the total net assets of each of the Funds individually. The net assets
of the classes are deemed to be represented by the net assets of their
respective funds. Each of the Funds agrees that the appropriateness of the
allocation of said premium will be determined no less often than annually. No
adjustment of the allocation of said premium will be implemented without
approval of the Boards of each of the Funds.
2. Allocation of Recoveries
(a) If more than one of the parties hereto is damaged in a single
loss for which recovery is received under the policy, each such party shall
receive that portion of the recovery which represents the loss sustained by that
party, unless the recovery is inadequate to fully indemnify such party
sustaining loss.
(b) If the recovery is inadequate to fully indemnify each such party
sustaining a loss, the recovery shall be allocated among such parties as
follows:
(i) Each Party sustaining a loss shall be allocated an amount
equal to the lesser of its actual loss or the minimum amount of policy which
would be required to be maintained by such party under a single insured policy
(determined as of the time of loss) in accordance with the provisions of Rule
17g-l.
(ii) The remaining portion of the proceeds shall be allocated
to each party sustaining a loss not fully covered by the allocation under
subparagraph (i) in the proportion that each such party's last payment of
premium bears to the sum of the last such premium payments of all such parties.
If such allocation would result in any party which had sustained a loss
receiving a portion of the recovery in excess of the loss actually sustained,
such excess portion shall be allocated among the other parties whose losses
would not be fully indemnified. The allocation shall bear the same proportion as
each such party's last payment of premium bears to the sum of the last premium
payments of all parties entitled to receive a share of the excess. Any
allocation in excess of a loss actually sustained by any such party shall be
reallocated in the same manner.
2
3. Obligation to Maintain Minimum Coverage.
Each of the Funds represents and warrants to each of the other
parties hereto that the minimum amount of coverage required of it by Rule 17g-1
as of the date hereof is as reflected in the schedule attached hereto. Each of
the Funds agrees that it will determine, no less than at the end of each
calendar quarter, the minimum amount of coverage which would be required of it
by Rule 17g-1 if a determination with respect to the adequacy of the coverage
were currently being made. In the event that the total amount of the minimum
coverage thus determined exceeds the amount of coverage of the then effective
policy, the Boards of each of the Funds will be notified and will determine
whether it is necessary or appropriate to increase the total amount of coverage
of the policy to an amount not less than the total amount of such minimums, or
to secure such excess coverage for one or more of the parties hereto, which,
when added to the total coverage of the policy, will equal an amount of such
minimums. Unless a Fund elects to terminate this Agreement (pursuant to
Paragraph 4) and its participation in a joint-insured policy, each Fund agrees
to pay its fair portion of the new or additional premium (taking into account
all of the then existing circumstances).
4. Continuation and Termination. This Agreement shall become
effective on the date first written above, subject to the condition that the
Fund's Board of Directors/Trustees, including a majority of those
Directors/Trustees who are not interested persons (as such term is defined in
the 1940 Act) of the Manager, shall have approved this Agreement. This Agreement
shall supersede all prior agreements relating to an allocation of premium on any
joint insured policy and shall apply to the present liability policy coverage
and any renewal or replacement thereof. It shall continue until terminated by
any party hereto upon the giving of not less than sixty (60) days notice to the
other parties hereto in writing.
5. Amendments. No provision of this Agreement may be changed,
waived, discharged or terminated orally, but only by an instrument in writing
signed by the party against which enforcement of the change, waiver, discharge
or termination is sought. A written amendment of this Agreement is effective
upon the approval of the Board of Directors/Trustees and the Manager.
3
IN WITNESS WHEREOF, the parties hereto have caused these presents to be
duly executed by their duly authorized officers as of the date first above
written.
On Behalf of: All ING Funds Listed on Schedule A
By: /s/ Michael J. Roland
----------------------------
Michael J. Roland
Executive Vice President
4
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
(MAY 29, 2003)
ING Classic Money Market Fund
ING Convertible Fund
ING Emerging Countries Fund
ING Equity and Bond Fund
ING Financial Services Fund
ING Foreign Fund
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING GNMA Income Fund
ING Growth + Value Fund
ING Growth Opportunities Fund
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Intermediate Bond Fund
ING International Fund
ING International SmallCap Growth Fund
ING International Value Fund
ING LargeCap Growth Fund
ING Lexington Money Market Trust
ING MagnaCap Fund
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING Precious Metals Fund
ING PRIME RATE TRUST
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund IX
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Real Estate Fund
ING Research Enhanced Index Fund
ING Russia Fund
ING SENIOR INCOME FUND
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING Strategic Bond Fund
ING Tax Efficient Equity Fund
ING VP Convertible Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP Financial Services Portfolio
ING VP Growth + Value Portfolio
ING VP Growth Opportunities Portfolio
ING VP High Yield Bond Portfolio
ING VP International Portfolio
ING VP International SmallCap Growth Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP NATURAL RESOURCES TRUST
ING VP Research Enhanced Index Portfolio
ING VP SmallCap Opportunities Portfolio
ING VP Worldwide Growth Portfolio
ING Worldwide Growth Fund
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
(FEBRUARY 25, 2003)
ING Classic Money Market Fund
ING Convertible Fund
ING Emerging Countries Fund
ING Equity and Bond Fund
ING Financial Services Fund
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING Global Technology Fund
ING GNMA Income Fund
ING Growth + Value Fund
ING Growth Opportunities Fund
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Intermediate Bond Fund
ING International Fund
ING International SmallCap Growth Fund
ING International Value Fund
ING LargeCap Growth Fund
ING Lexington Money Market Trust
ING MagnaCap Fund
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING Precious Metals Fund
ING PRIME RATE TRUST
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund IX
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Real Estate Fund
ING Research Enhanced Index Fund
ING Russia Fund
ING SENIOR INCOME FUND
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING Strategic Bond Fund
ING Tax Efficient Equity Fund
ING VP Convertible Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP Financial Services Portfolio
ING VP Growth + Value Portfolio
ING VP Growth Opportunities Portfolio
ING VP High Yield Bond Portfolio
ING VP International Portfolio
ING VP International SmallCap Growth Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP NATURAL RESOURCES TRUST
ING VP Research Enhanced Index Portfolio
ING VP SmallCap Opportunities Portfolio
ING VP Worldwide Growth Portfolio
ING Worldwide Growth Fund
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
Fund For Life Series
ING AIM Mid Cap Growth Portfolio
ING Alliance Mid Cap Growth Portfolio
ING American Funds Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds International Portfolio
ING Capital Guardian Large Cap Value Portfolio
ING Capital Guardian Managed Global Portfolio
ING Capital Guardian Small Cap Portfolio
ING Classic Money Market Fund
ING Convertible Fund
ING Developing World Portfolio
ING Disciplined LargeCap Fund
ING Eagle Asset Value Equity Portfolio
ING Emerging Countries Fund
ING Equity and Bond Fund
ING Financial Services Fund
ING FMR(SM) Diversified Mid Cap Portfolio
ING Foreign Fund
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Select Portfolio - Series 1
ING GET U.S. Core Select Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING GNMA Income Fund
ING Goldman Sachs Internet Tollkeeper(SM) Portfolio
ING Growth + Value Fund
ING Growth Opportunities Fund
ING Hard Assets Portfolio
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Intermediate Bond Fund
ING International Fund
ING International Portfolio
ING International SmallCap Growth Fund
ING International Value Fund
ING Janus Growth and Income Portfolio
ING Janus Special Equity Portfolio
ING Jennison Equity Opportunities Portfolio
ING JPMorgan Fleming Small Cap Equity Portfolio
ING Julius Baer Foreign Portfolio
ING LargeCap Growth Fund
ING Lexington Money Market Trust
ING Limited Maturity Bond Portfolio
ING Liquid Assets Portfolio
ING MagnaCap Fund
ING Marsico Growth Portfolio
ING Mercury Focus Value Portfolio
ING Mercury Fundamental Growth Portfolio
ING MFS Mid Cap Growth Portfolio
ING MFS Research Portfolio
ING MFS Total Return Portfolio
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING PIMCO Core Bond Portfolio
ING PIMCO High Yield Portfolio
ING Precious Metals Fund
ING PRIME RATE TRUST
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund IX
ING Principal Protection Fund V
* Last updated August 21, 2003.
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Real Estate Fund
ING Russia Fund
ING Salomon Brothers All Cap Portfolio
ING Salomon Brothers Investors Portfolio
ING SENIOR INCOME FUND
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING Stock Index Portfolio
ING Strategic Bond Fund
ING T. Rowe Price Capital Appreciation Portfolio
ING T. Rowe Price Equity Income Portfolio
ING Tax Efficient Equity Fund
ING UBS U.S. Balanced Portfolio
ING Van Kampen Equity Growth Portfolio
ING Van Kampen Global Franchise Portfolio
ING Van Kampen Growth and Income Portfolio
ING Van Kampen Real Estate Portfolio
ING VP Convertible Portfolio
ING VP Disciplined LargeCap Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP Financial Services Portfolio
ING VP Growth + Value Portfolio
ING VP Growth Opportunities Portfolio
ING VP High Yield Bond Portfolio
ING VP International Portfolio
ING VP International SmallCap Growth Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP NATURAL RESOURCES TRUST
ING VP SmallCap Opportunities Portfolio
ING VP Worldwide Growth Portfolio
ING Worldwide Growth Fund
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
2
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
Fund For Life Series(1)
ING AIM Mid Cap Growth Portfolio(1)
ING Alliance Mid Cap Growth Portfolio(1)
ING American Funds Growth Portfolio(1)
ING American Funds Growth-Income Portfolio(1)
ING American Funds International Portfolio(1)
ING Capital Guardian Large Cap Value Portfolio(1)
ING Capital Guardian Managed Global Portfolio(1)
ING Capital Guardian Small Cap Portfolio(1)
ING Classic Money Market Fund
ING Convertible Fund
ING Developing World Portfolio(1)
ING Disciplined LargeCap Fund
ING Eagle Asset Value Equity Portfolio(1)
ING Emerging Countries Fund
ING Equity and Bond Fund
ING Financial Services Fund
ING FMR(SM) Diversified Mid Cap Portfolio(1)
ING Foreign Fund
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Select Portfolio - Series 1
ING GET U..S. Core Select Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio- Series 2
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING GNMA Income Fund
ING Goldman Sachs Internet Tollkeeper(SM) Portfolio(1)
ING Growth + Value Fund
ING Growth Opportunities Fund
ING Hard Assets Portfolio(1)
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Intermediate Bond Fund
ING International Fund
ING International Portfolio(1)
ING International SmallCap Growth Fund
ING International Value Fund
ING Janus Growth and Income Portfolio(1)
ING Janus Special Equity Portfolio(1)
ING Jennison Equity Opportunities Portfolio(1)
ING JPMorgan Small Cap Equity Portfolio(1)
ING Julius Baer Foreign Portfolio(1)
ING LargeCap Growth Fund
ING LargeCap Value Fund
ING Lexington Money Market Trust
ING Limited Maturity Bond Portfolio(1)
ING Liquid Assets Portfolio(1)
ING MagnaCap Fund
ING Marsico Growth Portfolio(1)
ING Mercury Focus Value Portfolio(1)
ING Mercury Fundamental Growth Portfolio(1)
ING MFS Mid Cap Growth Portfolio(1)
ING MFS Research Portfolio(1)
ING MFS Total Return Portfolio(1)
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING PIMCO Core Bond Portfolio(1)
ING PIMCO High Yield Portfolio(1)
ING Precious Metals Fund
ING PRIME RATE TRUST
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
* Last updated November 11,2003.
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Real Estate Fund
ING Russia Fund
ING Salomon Brothers All Cap Portfolio(1)
ING Salomon Brothers Investors Portfolio(1)
ING SENIOR INCOME FUND
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING Stock Index Portfolio(1)
ING T. Rowe Price Capital Appreciation Portfolio(1)
ING T. Rowe Price Equity Income Portfolio(1)
ING Tax Efficient Equity Fund
ING UBS U.S. Balanced Portfolio(1)
ING Van Kampen Equity Growth Portfolio(1)
ING Van Kampen Global Franchise Portfolio(1)
ING Van Kampen Growth and Income Portfolio(1)
ING Van Kampen Real Estate Portfolio(1)
ING VP Convertible Portfolio
ING VP Disciplined LargeCap Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP Financial Services Portfolio
ING VP Growth + Value Portfolio
ING VP Growth Opportunities Portfolio
ING VP High Yield Bond Portfolio
ING VP International Portfolio
ING VP International SmallCap Growth Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP NATURAL RESOURCES TRUST
ING VP SmallCap Opportunities Portfolio
ING VP Worldwide Growth Portfolio
ING Worldwide Growth Fund
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
2
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
FUNDS
Fund For Life Series(1)
ING AIM Mid Cap Growth Portfolio(1)
ING Alliance Mid Cap Growth Portfolio(1)
ING American Funds Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds International Portfolio
ING Capital Guardian Large Cap Value Portfolio(1)
ING Capital Guardian Managed Global Portfolio(1)
ING Capital Guardian Small Cap Portfolio(1)
ING Classic Money Market Fund
ING Convertible Fund
ING Developing World Portfolio(1)
ING Disciplined LargeCap Fund
ING Eagle Asset Capital Appreciation Portfolio(1)
ING Emerging Countries Fund
ING Equity and Bond Fund
ING Evergreen Health Sciences Portfolio
ING Evergreen Omega Portfolio
ING Financial Services Fund
ING FMR(SM) Diversified Mid Cap Portfolio(1)
ING Foreign Fund
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Select Portfolio - Series 1
ING GET U.S. Core Select Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING GNMA Income Fund
ING Goldman Sachs Internet Tollkeeper(SM)Portfolio(1)
ING Growth + Value Fund
ING Growth Opportunities Fund
ING Hard Assets Portfolio(1)
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Intermediate Bond Fund
ING International Fund
ING International Portfolio(1)
ING International SmallCap Growth Fund
ING International Value Fund
ING Janus Special Equity Portfolio(1)
ING Jennison Equity Opportunities Portfolio(1)
ING JPMorgan Small Cap Equity Portfolio(1)
ING Julius Baer Foreign Portfolio(1)
ING LargeCap Growth Fund
ING LargeCap Value Fund
ING Legg Mason Value Portfolio(1)
ING Lexington Money Market Trust
ING Lifestyle Aggressive Growth Portfolio
ING Lifestyle Growth Portfolio
ING Lifestyle Moderate Growth Portfolio
ING Lifestyle Moderate Portfolio
ING Limited Maturity Bond Portfolio(1)
ING Liquid Assets Portfolio(1)
ING MagnaCap Fund
ING Marsico Growth Portfolio(1)
ING Mercury Focus Value Portfolio(1)
ING Mercury Fundamental Growth Portfolio(1)
ING MFS Mid Cap Growth Portfolio(1)
ING MFS Research Portfolio(1)
ING MFS Total Return Portfolio(1)
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING PIMCO Core Bond Portfolio(1)
(1) Under the terms of the Management Agreement between ING Investors Trust and
Directed Services, Inc., the Fund is subject to a unified fee arrangement.
Accordingly, the portion of Blanket Bond premium allocated to the Fund
under the Agreement will be borne directly by Directed Services, Inc. as
provided in the Management Agreement.
ING PIMCO High Yield Portfolio(1)
ING Precious Metals Fund
ING PRIME RATE TRUST
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Real Estate Fund
ING Russia Fund
ING Salomon Brothers All Cap Portfolio(1)
ING Salomon Brothers Investors Portfolio(1)
ING SENIOR INCOME FUND
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING Stock Index Portfolio(1)
ING T. Rowe Price Capital Appreciation Portfolio(1)
ING T. Rowe Price Equity Income Portfolio(1)
ING Tax Efficient Equity Fund
ING UBS U.S. Balanced Portfolio(1)
ING Van Kampen Equity Growth Portfolio(1)
ING Van Kampen Global Franchise Portfolio(1)
ING Van Kampen Growth and Income Portfolio(1)
ING Van Kampen Real Estate Portfolio(1)
ING VP Convertible Portfolio
ING VP Disciplined LargeCap Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP Financial Services Portfolio
ING VP Growth + Value Portfolio
ING VP Growth Opportunities Portfolio
ING VP High Yield Bond Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP NATURAL RESOURCES TRUST
ING VP Real Estate Portfolio
ING VP SmallCap Opportunities Portfolio
ING VP Worldwide Growth Portfolio
ING Worldwide Growth Fund
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust and
Directed Services, Inc., the Fund is subject to a unified fee arrangement.
Accordingly, the portion of Blanket Bond premium allocated to the Fund
under the Agreement will be borne directly by Directed Services, Inc. as
provided in the Management Agreement.
2
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
FUNDS
Brokerage Cash Reserves
Fund For Life Series(1)
ING Aeltus Money Market Fund
ING AIM Mid Cap Growth Portfolio(1)
ING Alliance Mid Cap Growth Portfolio(1)
ING American Funds Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds International Portfolio
ING Balanced Fund
ING Bond Fund
ING Capital Guardian Large Cap Value Portfolio(1)
ING Capital Guardian Managed Global Portfolio(1)
ING Capital Guardian Small Cap Portfolio(1)
ING Classic Money Market Fund
ING Classic Principal Protection Fund I
ING Classic Principal Protection Fund II
ING Classic Principal Protection Fund III
ING Classic Principal Protection Fund IV
ING Convertible Fund
ING Developing World Portfolio(1)
ING Disciplined LargeCap Fund
ING Eagle Asset Capital Appreciation Portfolio(1)
ING Emerging Countries Fund
ING Equity and Bond Fund
ING Equity Income Fund
ING Evergreen Health Sciences Portfolio(1)
ING Evergreen Omega Portfolio(1)
ING Financial Services Fund
ING FMR(SM) Diversified Mid Cap Portfolio(1)
ING Foreign Fund
ING GET Fund - Series E
ING GET Fund - Series G
ING GET Fund - Series H
ING GET Fund - Series I
ING GET Fund - Series J
ING GET Fund - Series K
ING GET Fund - Series L
ING GET Fund - Series M
ING GET Fund - Series N
ING GET Fund - Series P
ING GET Fund - Series Q
ING GET Fund - Series R
ING GET Fund - Series S
ING GET Fund - Series T
ING GET Fund - Series U
ING GET Fund - Series V
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Portfolio - Series 7
ING GET U.S. Core Portfolio - Series 8
ING GET U.S. Core Portfolio - Series 9
ING GET U.S. Core Select Portfolio - Series 1
ING GET U.S. Core Select Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING Global Science and Technology Fund
ING GNMA Income Fund
ING Goldman Sachs Internet Tollkeeper(SM) Portfolio(1)
ING Government Fund
ING Growth Fund
ING Hard Assets Portfolio(1)
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Index Plus LargeCap Fund
ING Index Plus MidCap Fund
ING Index Plus Protection Fund
ING Index Plus SmallCap Fund
(1) Under the terms of the Management Agreement between ING Investors Trust and
Directed Services, Inc., the Fund is subject to a unified fee arrangement.
Accordingly, the portion of Blanket Bond premium allocated to the Fund
under the Agreement will be borne directly by Directed Services, Inc. as
provided in the Management Agreement.
ING Intermediate Bond Fund
ING International Fund
ING International Growth Fund
ING International Portfolio(1)
ING International SmallCap Growth Fund
ING International Value Fund
ING Janus Special Equity Portfolio(1)
ING Jennison Equity Opportunities Portfolio(1)
ING JPMorgan Small Cap Equity Portfolio(1)
ING Julius Baer Foreign Portfolio(1)
ING LargeCap Growth Fund
ING LargeCap Value Fund
ING Legg Mason Value Portfolio(1)
ING Lexington Money Market Trust
ING Limited Maturity Bond Portfolio(1)
ING Liquid Assets Portfolio(1)
ING MagnaCap Fund
ING Marsico Growth Portfolio(1)
ING Mercury Focus Value Portfolio(1)
ING Mercury Large Cap Growth Portfolio(1)
ING MFS Mid Cap Growth Portfolio(1)
ING MFS Research Portfolio(1)
ING MFS Total Return Portfolio(1)
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING PIMCO Core Bond Portfolio(1)
ING PIMCO High Yield Portfolio(1)
ING Precious Metals Fund
ING Prime Rate Trust
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund IX
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Real Estate Fund
ING Russia Fund
ING Salomon Brothers All Cap Portfolio(1)
ING Salomon Brothers Investors Portfolio(1)
ING Senior Income Fund
ING Small Company Fund
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING Stock Index Portfolio(1)
ING Strategic Allocation Balanced Fund
ING Strategic Allocation Growth Fund
ING Strategic Allocation Income Fund
ING T. Rowe Price Capital Appreciation Portfolio(1)
ING T. Rowe Price Equity Income Portfolio(1)
ING Tax Efficient Equity Fund
ING UBS U.S. Balanced Portfolio(1)
ING Value Opportunity Fund
ING Van Kampen Equity Growth Portfolio(1)
ING Van Kampen Global Franchise Portfolio(1)
ING Van Kampen Growth and Income Portfolio(1)
ING Van Kampen Real Estate Portfolio(1)
ING VP Balanced Portfolio, Inc.
ING VP Bond Portfolio
ING VP Convertible Portfolio
ING VP Disciplined LargeCap Portfolio
ING VP Emerging Markets Fund, Inc.
ING VP Financial Services Portfolio
ING VP Global Science and Technology Portfolio
ING VP Growth and Income Portfolio
ING VP Growth Portfolio
ING VP High Yield Bond Portfolio
ING VP Index Plus LargeCap Portfolio
ING VP Index Plus MidCap Portfolio
ING VP Index Plus SmallCap Portfolio
ING VP International Equity Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP Money Market Portfolio
ING VP Natural Resources Trust
ING VP Real Estate Portfolio
ING VP Small Company Portfolio
ING VP SmallCap Opportunities Portfolio
ING VP Strategic Allocation Balanced Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust and
Directed Services, Inc., the Fund is subject to a unified fee arrangement.
Accordingly, the portion of Blanket Bond premium allocated to the Fund
under the Agreement will be borne directly by Directed Services, Inc. as
provided in the Management Agreement.
2
ING VP Strategic Allocation Growth Portfolio
ING VP Strategic Allocation Income Portfolio
ING VP Value Opportunity Portfolio
ING VP Worldwide Growth Portfolio
ING Worldwide Growth Fund
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
3
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
ING INVESTORS TRUST
ING AIM Mid Cap Growth Portfolio(1)
ING Alliance Mid Cap Growth Portfolio(1)
ING American Funds Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds International Portfolio
ING Capital Guardian Large Cap Value Portfolio(1)
ING Capital Guardian Managed Global Portfolio(1)
ING Capital Guardian Small Cap Portfolio(1)
ING Developing World Portfolio(1)
ING Eagle Asset Capital Appreciation Portfolio(1)
ING Evergreen Health Sciences Portfolio(1)
ING Evergreen Omega Portfolio(1)
ING FMR(SM) Diversified Mid Cap Portfolio(1)
ING Goldman Sachs Tollkeeper(SM) Portfolio(1)
ING Hard Assets Portfolio(1)
ING International Portfolio(1)
ING Janus Special Equity Portfolio(1)
ING Jennison Equity Opportunities Portfolio(1)
ING JPMorgan Small Cap Equity Portfolio(1)
ING Julius Baer Foreign Portfolio(1)
ING Legg Mason Value Portfolio(1)
ING Limited Maturity Bond Portfolio(1)
ING Liquid Assets Portfolio(1)
ING Marsico Growth Portfolio(1)
ING Mercury Focus Value Portfolio(1)
ING Mercury Large Cap Growth Portfolio(1)
ING MFS Mid Cap Growth Portfolio(1)
ING MFS Total Return Portfolio(1)
ING Oppenheimer Main Street Portfolio(R)(1)
ING PIMCO Core Bond Portfolio(1)
ING PIMCO High Yield Portfolio(1)
ING Pioneer Fund Portfolio(1)
ING Pioneer Mid Cap Value Portfolio(1)
ING Salomon Brothers All Cap Portfolio(1)
ING Salomon Brothers Investors Portfolio(1)
ING Stock Index Portfolio(1)
ING T. Rowe Price Capital Appreciation Portfolio(1)
ING T. Rowe Price Equity Income Portfolio(1)
ING UBS U.S. Balanced Portfolio(1)
ING Van Kampen Equity Growth Portfolio(1)
ING Van Kampen Global Franchise Portfolio(1)
ING Van Kampen Growth and Income Portfolio(1)
ING Van Kampen Real Estate Portfolio(1)
ING EQUITY TRUST
ING Convertible Fund
ING Disciplined LargeCap Fund
ING Equity and Bond Fund
ING Financial Services Fund
ING LargeCap Value Fund
ING LargeCap Growth Fund
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Principal Protection Fund XII
ING Principal Protection Fund XIII
ING Principal Protection Fund XIV
ING Real Estate Fund
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING Tax Efficient Equity Fund
ING FUNDS TRUST
ING Classic Money Market Fund
ING GNMA Income Fund
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Intermediate Bond Fund
ING Lexington Money Market Trust
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING INVESTMENT FUNDS, INC.
ING MagnaCap Fund
ING MAYFLOWER TRUST
ING International Value Fund
ING MUTUAL FUNDS
ING Emerging Countries Fund
ING Foreign Fund
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING International Fund
ING International SmallCap Growth Fund
ING Precious Metals Fund
ING Russia Fund
ING Worldwide Growth Fund
ING PRIME RATE TRUST
ING SENIOR INCOME FUND
ING VARIABLE INSURANCE TRUST
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Portfolio - Series 7
ING GET U.S. Core Portfolio - Series 8
ING GET U.S. Core Portfolio - Series 9
ING GET U.S. Core Select Portfolio - Series 1
ING GET U.S. Core Select Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING VP Worldwide Growth Portfolio
ING VARIABLE PRODUCTS TRUST
ING VP Convertible Portfolio
ING VP Disciplined LargeCap Portfolio
ING VP Financial Services Portfolio
ING VP High Yield Bond Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP Real Estate Portfolio
ING VP SmallCap Opportunities Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP NATURAL RESOURCES TRUST
USLICO SERIES FUND
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
ING GET FUND
ING GET Fund - Series G
ING GET Fund - Series H
ING GET Fund - Series I
ING GET Fund - Series J
ING GET Fund - Series K
ING GET Fund - Series L
ING GET Fund - Series M
ING GET Fund - Series N
ING GET Fund - Series P
ING GET Fund - Series Q
ING GET Fund - Series R
ING GET Fund - Series S
ING GET Fund - Series T
ING GET Fund - Series U
ING GET Fund - Series V
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
2
ING SERIES FUND, INC.
Brokerage Cash Reserves
ING Aeltus Money Market Fund
ING Balanced Fund
ING Classic Principal Protection Fund II
ING Classic Principal Protection Fund III
ING Classic Principal Protection Fund IV
ING Equity Income Fund
ING Global Science and Technology Fund
ING Government Fund
ING Growth Fund
ING Index Plus LargeCap Fund
ING Index Plus MidCap Fund
ING Index Plus Protection Fund
ING Index Plus SmallCap Fund
ING International Growth Fund
ING Small Company Fund
ING Strategic Allocation Balanced Fund
ING Strategic Allocation Growth Fund
ING Strategic Allocation Income Fund
ING Value Opportunity Fund
ING STRATEGIC ALLOCATION PORTFOLIOS, INC.
ING VP Strategic Allocation Balanced Portfolio
ING VP Strategic Allocation Growth Portfolio
ING VP Strategic Allocation Income Portfolio
ING VARIABLE FUNDS
ING VP Growth and Income Portfolio
ING VARIABLE PORTFOLIOS, INC.
ING VP Global Science and Technology Portfolio
ING VP Growth Portfolio
ING VP Index Plus LargeCap Portfolio
ING VP Index Plus MidCap Portfolio
ING VP Index Plus SmallCap Portfolio
ING VP International Equity Portfolio
ING VP Small Company Portfolio
ING VP Value Opportunity Portfolio
ING VP BALANCED PORTFOLIO, INC.
ING VP INTERMEDIATE BOND PORTFOLIO
ING VP MONEY MARKET PORTFOLIO
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
3
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
ING INVESTORS TRUST
ING AIM Mid Cap Growth Portfolio(1)
ING Alliance Mid Cap Growth Portfolio(1)
ING American Funds Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds International Portfolio
ING Capital Guardian Large Cap Value Portfolio(1)
ING Capital Guardian Managed Global Portfolio(1)
ING Capital Guardian Small Cap Portfolio(1)
ING Developing World Portfolio(1)
ING Eagle Asset Capital Appreciation Portfolio(1)
ING Evergreen Health Sciences Portfolio(1)
ING Evergreen Omega Portfolio(1)
ING FMR(SM) Diversified Mid Cap Portfolio(1)
ING FMR(SM) Earnings Growth Portfolio
ING Goldman Sachs Tollkeeper(SM) Portfolio(1)
ING Hard Assets Portfolio(1)
ING International Portfolio(1)
ING Janus Special Equity Portfolio(1)
ING Jennison Equity Opportunities Portfolio(1)
ING JPMorgan Small Cap Equity Portfolio(1)
ING Julius Baer Foreign Portfolio(1)
ING Legg Mason Value Portfolio(1)
ING Limited Maturity Bond Portfolio(1)
ING Liquid Assets Portfolio(1)
ING Marsico Growth Portfolio(1)
ING Marsico International Opportunities Portfolio
ING Mercury Focus Value Portfolio(1)
ING Mercury Large Cap Growth Portfolio(1)
ING MFS Mid Cap Growth Portfolio(1)
ING MFS Total Return Portfolio(1)
ING Oppenheimer Main Street Portfolio(R)(1)
ING PIMCO Core Bond Portfolio(1)
ING PIMCO High Yield Portfolio(1)
ING Pioneer Fund Portfolio(1)
ING Pioneer Mid Cap Value Portfolio(1)
ING Salomon Brothers All Cap Portfolio(1)
ING Salomon Brothers Investors Portfolio(1)
ING Stock Index Portfolio(1)
ING T. Rowe Price Capital Appreciation Portfolio(1)
ING T. Rowe Price Equity Income Portfolio(1)
ING UBS U.S. Balanced Portfolio(1)
ING Van Kampen Equity Growth Portfolio(1)
ING Van Kampen Global Franchise Portfolio(1)
ING Van Kampen Growth and Income Portfolio(1)
ING Van Kampen Real Estate Portfolio(1)
ING EQUITY TRUST
ING Convertible Fund
ING Disciplined LargeCap Fund
ING Equity and Bond Fund
ING Financial Services Fund
ING LargeCap Value Fund
ING LargeCap Growth Fund
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING MidCap Value Choice Fund
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Principal Protection Fund XII
ING Principal Protection Fund XIII
ING Principal Protection Fund XIV
ING Real Estate Fund
ING SmallCap Opportunities Fund
ING SmallCap Value Fund
ING SmallCap Value Choice Fund
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
ING FUNDS TRUST
ING Classic Money Market Fund
ING GNMA Income Fund
ING High Yield Bond Fund
ING Intermediate Bond Fund
ING Lexington Money Market Trust
ING Money Market Fund
ING National Tax-Exempt Bond Fund
ING INVESTMENT FUNDS, INC.
ING MagnaCap Fund
ING MAYFLOWER TRUST
ING International Value Fund
ING MUTUAL FUNDS
ING Emerging Countries Fund
ING Foreign Fund
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING Global Value Choice Fund
ING International Fund
ING International SmallCap Growth Fund
ING Precious Metals Fund
ING Russia Fund
ING Worldwide Growth Fund
ING PRIME RATE TRUST
ING SENIOR INCOME FUND
ING VARIABLE INSURANCE TRUST
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Portfolio - Series 7
ING GET U.S. Core Portfolio - Series 8
ING GET U.S. Core Portfolio - Series 9
ING GET U.S. Core Select Portfolio - Series 1
ING GET U.S. Core Select Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING VP Worldwide Growth Portfolio
ING VARIABLE PRODUCTS TRUST
ING VP Convertible Portfolio
ING VP Disciplined LargeCap Portfolio
ING VP Financial Services Portfolio
ING VP High Yield Bond Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP Real Estate Portfolio
ING VP SmallCap Opportunities Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP NATURAL RESOURCES TRUST
USLICO SERIES FUND
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee
arrangement. Accordingly, the portion of Blanket Bond premium allocated to
the Fund under the Agreement will be borne directly by Directed Services,
Inc. as provided in the Management Agreement.
2
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT-BLANKET BOND
ING EQUITY TRUST
ING Convertible Fund
ING Disciplined LargeCap Fund
ING Equity and Bond Fund
ING Financial Services Fund
ING LargeCap Value Fund
ING LargeCap Growth Fund
ING MidCap Opportunities Fund
ING MidCap Value Choice Fund
ING MidCap Value Fund
ING Principal Protection Fund
ING Principal Protection Fund II
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Principal Protection Fund XII
ING Principal Protection Fund XIII
ING Principal Protection Fund XIV
ING Real Estate Fund
ING SmallCap Opportunities Fund
ING SmallCap Value Choice Fund
ING SmallCap Value Fund
ING FUNDS TRUST
ING Classic Money Market Fund
ING GNMA Income Fund
ING High Yield Bond Fund
ING High Yield Opportunity Fund
ING Intermediate Bond Fund
ING National Tax-Exempt Bond Fund
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND
ING INVESTORS TRUST
ING AIM Mid Cap Growth Portfolio(1)
ING Alliance Mid Cap Growth Portfolio(1)
ING American Funds Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds International Portfolio
ING Capital Guardian Large Cap Value Portfolio(1)
ING Capital Guardian Managed Global Portfolio(1)
ING Capital Guardian Small/Mid Cap Portfolio(1)
ING Eagle Asset Capital Appreciation Portfolio(1)
ING Evergreen Health Sciences Portfolio(1)
ING Evergreen Omega Portfolio(1)
ING FMR(SM) Diversified Mid Cap Portfolio(1)
ING FMR(SM) Earnings Growth Portfolio
ING Goldman Sachs Tollkeeper(SM) Portfolio(1)
ING Hard Assets Portfolio(1)
ING International Portfolio(1)
ING Janus Contrarian Portfolio(1)
ING Jennison Equity Opportunities Portfolio(1)
ING JPMorgan Emerging Markets Equity Portfolio(1)
ING JPMorgan Small Cap Equity Portfolio(1)
ING JPMorgan Value Opportunities Portfolio
ING Julius Baer Foreign Portfolio(1)
ING Legg Mason Value Portfolio(1)
ING Limited Maturity Bond Portfolio(1)
ING Liquid Assets Portfolio(1)
ING Marsico Growth Portfolio(1)
ING Marsico International Opportunities Portfolio
ING Mercury Focus Value Portfolio(1)
ING Mercury Large Cap Growth Portfolio(1)
ING MFS Mid Cap Growth Portfolio(1)
ING MFS Total Return Portfolio(1)
ING MFS Utilities Portfolio
ING Oppenheimer Main Street Portfolio(R)(1)
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee arrangement.
Accordingly, the portion of SCAS Fees allocated to the Fund under the Agreement
will be borne directly by Directed Services, Inc. as provided in the Management
Agreement.
1
ING PIMCO Core Bond Portfolio(1)
ING PIMCO High Yield Portfolio(1)
ING Pioneer Fund Portfolio(1)
ING Pioneer Mid Cap Value Portfolio(1)
ING Salomon Brothers All Cap Portfolio(1)
ING Salomon Brothers Investors Portfolio(1)
ING Stock Index Portfolio(1)
ING T. Rowe Price Capital Appreciation Portfolio(1)
ING T. Rowe Price Equity Income Portfolio(1)
ING UBS U.S. Balanced Portfolio(1)
ING Van Kampen Equity Growth Portfolio(1)
ING Van Kampen Global Franchise Portfolio(1)
ING Van Kampen Growth and Income Portfolio(1)
ING Van Kampen Real Estate Portfolio(1)
ING INVESTMENT FUNDS, INC.
ING MagnaCap Fund
ING MAYFLOWER TRUST
ING International Value Fund
ING MUTUAL FUNDS
ING Emerging Countries Fund
ING Foreign Fund
ING Global Equity Dividend Fund
ING Global Real Estate Fund
ING Global Value Choice Fund
ING International Fund
ING International SmallCap Fund
ING International Value Choice Fund
ING Precious Metals Fund
ING Russia Fund
ING PARTNERS, INC.
ING American Century Select Portfolio
ING American Century Small Cap Value Portfolio
ING Baron Small Cap Growth Portfolio
ING Fidelity(R) VIP Contrafund(R) Portfolio
ING Fidelity(R) VIP Equity Income Portfolio
ING Fidelity(R) VIP Growth Portfolio
ING Fidelity(R) VIP Mid Cap Portfolio
ING Fundamental Research Portfolio
ING Goldman Sachs(R) Capital Growth Portfolio
ING Goldman Sachs(R) Core Equity Portfolio
ING JPMorgan Fleming International Portfolio
ING JPMorgan Mid Cap Value Portfolio
ING MFS Capital Opportunities Portfolio
ING OpCap Balanced Value Portfolio
ING Oppenheimer Global Portfolio
ING Oppenheimer Strategic Income Portfolio
ING PIMCO Total Return Portfolio
ING Salomon Brothers Aggressive Growth Portfolio
ING Salomon Brothers Fundamental Value Portfolio
ING Salomon Brothers Investors Value Portfolio
ING Salomon Brothers Large Cap Growth Portfolio
ING T. Rowe Price Diversified Mid Cap Growth Portfolio
ING T. Rowe Price Growth Equity Portfolio
ING UBS U.S. Large Cap Equity Portfolio
ING Van Kampen Comstock Portfolio
ING Van Kampen Equity and Income Portfolio
ING PRIME RATE TRUST
ING SENIOR INCOME FUND
ING VARIABLE INSURANCE TRUST
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Portfolio - Series 7
ING GET U.S. Core Portfolio - Series 8
ING GET U.S. Core Portfolio - Series 9
ING GET U.S. Core Select Portfolio - Series 1
ING GET U.S. Core Select Portfolio - Series 2
ING GET U.S. Opportunity Portfolio - Series 1
ING GET U.S. Opportunity Portfolio - Series 2
ING VP Worldwide Growth Portfolio
ING VARIABLE PRODUCTS TRUST
ING VP Convertible Portfolio
ING VP Disciplined LargeCap Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee arrangement.
Accordingly, the portion of SCAS Fees allocated to the Fund under the Agreement
will be borne directly by Directed Services, Inc. as provided in the Management
Agreement.
2
ING VP Financial Services Portfolio
ING VP High Yield Bond Portfolio
ING VP International Value Portfolio
ING VP LargeCap Growth Portfolio
ING VP MagnaCap Portfolio
ING VP MidCap Opportunities Portfolio
ING VP Real Estate Portfolio
ING VP SmallCap Opportunities Portfolio
ING VP EMERGING MARKETS FUND, INC.
ING VP NATURAL RESOURCES TRUST
USLICO SERIES FUND
The Asset Allocation Portfolio
The Bond Portfolio
The Money Market Portfolio
The Stock Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust
and Directed Services, Inc., the Fund is subject to a unified fee arrangement.
Accordingly, the portion of SCAS Fees allocated to the Fund under the Agreement
will be borne directly by Directed Services, Inc. as provided in the
Management Agreement.
3
AMENDED SCHEDULE A
WITH RESPECT TO THE
ALLOCATION AGREEMENT - BLANKET BOND
ING ASIA PACIFIC HIGH DIVIDEND EQUITY
INCOME FUND
ING EQUITY TRUST
ING Financial Services Fund
ING Fundamental Research Fund
ING Index Plus LargeCap Equity Fund
ING Index Plus LargeCap Equity Fund II
ING LargeCap Growth Fund
ING LargeCap Value Fund
ING MidCap Opportunities Fund
ING MidCap Value Fund
ING Principal Protection Fund III
ING Principal Protection Fund IV
ING Principal Protection Fund V
ING Principal Protection Fund VI
ING Principal Protection Fund VII
ING Principal Protection Fund VIII
ING Principal Protection Fund IX
ING Principal Protection Fund X
ING Principal Protection Fund XI
ING Principal Protection Fund XII
ING Real Estate Fund
ING SmallCap Opportunities Fund
ING SmallCap Value Choice Fund
ING SmallCap Value Fund
ING Value Choice Fund
ING FUNDS TRUST
ING Classic Money Market Fund
ING GNMA Income Fund
ING High Yield Bond Fund
ING Institutional Prime Money Market Fund
ING Intermediate Bond Fund
ING National Tax-Exempt Bond Fund
ING GLOBAL ADVANTAGE AND PREMIUM
OPPORTUNITY FUND
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND
ING INVESTMENT FUNDS, INC.
ING MagnaCap Fund
ING INVESTORS TRUST
ING AllianceBernstein Mid Cap Growth Portfolio(1)
ING American Funds Growth Portfolio
ING American Funds Growth-Income Portfolio
ING American Funds International Portfolio
ING BlackRock Inflation Protected Bond Portfolio
ING BlackRock Large Cap Growth Portfolio(1)
ING BlackRock Large Cap Value Portfolio(1)
ING Capital Guardian Small/Mid Cap Portfolio(1)
ING Capital Guardian U.S. Equities Portfolio(1)
ING Disciplined Small Cap Value Portfolio
ING EquitiesPlus Portfolio
ING Evergreen Health Sciences Portfolio(1)
ING Evergreen Omega Portfolio(1)
ING FMR(SM) Diversified Mid Cap Portfolio(1)
ING FMR(SM) Large Cap Growth Portfolio(1)
ING FMR(SM) Mid Cap Growth Portfolio(1)
ING Franklin Income Portfolio(1)
ING Franklin Mutual Shares Portfolio(1)
ING Franklin Templeton Founding Strategy Portfolio
ING Global Real Estate Portfolio
ING Global Resources Portfolio(1)
ING Global Technology Portfolio(1)
ING International Growth Opportunities Portfolio(1)
ING Janus Contrarian Portfolio(1)
ING JPMorgan Emerging Markets Equity Portfolio(1)
ING JPMorgan Small Cap Core Equity Portfolio(1)
(1) Under the terms of the Management Agreement between ING Investors Trust and
Directed Services, LLC, the Fund is subject to a unified fee arrangement.
Accordingly, the portion of SCAS Fees allocated to the Fund under the Agreement
will be borne directly by Directed Services, LLC as provided in the Management
Agreement.
1
ING JPMorgan Value Opportunities Portfolio(1)
ING Julius Baer Foreign Portfolio(1)
ING Legg Mason Value Portfolio(1)
ING LifeStyle Aggressive Growth Portfolio
ING LifeStyle Growth Portfolio
ING LifeStyle Moderate Growth Portfolio
ING LifeStyle Moderate Portfolio
ING Limited Maturity Bond Portfolio(1)
ING Liquid Assets Portfolio(1)
ING Lord Abbett Affiliated Portfolio(1)
ING MarketPro Portfolio
ING MarketStyle Growth Portfolio
ING MarketStyle Moderate Portfolio
ING MarketStyle Moderate Growth Portfolio
ING Marsico Growth Portfolio(1)
ING Marsico International Opportunities Portfolio
ING MFS Total Return Portfolio(1)
ING MFS Utilities Portfolio
ING Oppenheimer Main Street Portfolio(R)(1)
ING PIMCO Core Bond Portfolio(1)
ING PIMCO High Yield Portfolio(1)
ING Pioneer Equity Income Portfolio
ING Pioneer Fund Portfolio(1)
ING Pioneer Mid Cap Value Portfolio(1)
ING Stock Index Portfolio(1)
ING T. Rowe Price Capital Appreciation Portfolio(1)
ING T. Rowe Price Equity Income Portfolio(1)
ING Templeton Global Growth Portfolio(1)
ING UBS U.S. Allocation Portfolio(1)
ING Van Kampen Capital Growth Portfolio(1)
ING Van Kampen Global Franchise Portfolio(1)
ING Van Kampen Growth and Income Portfolio(1)
ING Van Kampen Real Estate Portfolio(1)
ING VP Index Plus International Equity Portfolio
ING Wells Fargo Disciplined Value Portfolio(1)
ING Wells Fargo Small Cap Disciplined Portfolio
ING MAYFLOWER TRUST
ING International Value Fund
ING MUTUAL FUNDS
ING Disciplined International SmallCap Fund
ING Diversified International Fund
ING Emerging Countries Fund
ING Emerging Markets Fixed Income Fund
ING Foreign Fund
ING Global Bond Fund
ING Global Equity Dividend Fund
ING Global Natural Resources Fund
ING Global Real Estate Fund
ING Global Value Choice Fund
ING Greater China Fund
ING Index Plus International Equity Fund
ING International Capital Appreciation Fund
ING International Equity Dividend Fund
ING International Growth Opportunities Fund
ING International Real Estate Fund
ING International SmallCap Fund
ING International Value Choice Fund
ING International Opportunities Fund
ING Russia Fund
ING PARTNERS, INC.
ING American Century Large Company Value Portfolio
ING American Century Small-Mid Cap Value Portfolio
ING Baron Asset Portfolio
ING Baron Small Cap Growth Portfolio
ING Columbia Small Cap Value II Portfolio
ING Davis Venture Value Portfolio
ING Fidelity(R) VIP Contrafund(R) Portfolio
ING Fidelity(R) VIP Equity-Income Portfolio
ING Fidelity(R) VIP Growth Portfolio
ING Fidelity(R) VIP Mid Cap Portfolio
ING Fundamental Research Portfolio
ING JPMorgan International Portfolio
ING JPMorgan Mid Cap Value Portfolio
ING Legg Mason Partners Aggressive Growth Portfolio
ING Legg Mason Partners Large Cap Growth Portfolio
ING Lord Abbett U.S. Government Securities Portfolio
ING Neuberger Berman Partners Portfolio
ING Neuberger Berman Regency Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust and
Directed Services, LLC, the Fund is subject to a unified fee arrangement.
Accordingly, the portion of SCAS Fees allocated to the Fund under the Agreement
will be borne directly by Directed Services, LLC as provided in the Management
Agreement.
2
ING OpCap Balanced Value Portfolio
ING Oppenheimer Global Portfolio
ING Oppenheimer Strategic Income Portfolio
ING PIMCO Total Return Portfolio
ING Pioneer High Yield Portfolio
ING Solution 2015 Portfolio
ING Solution 2025 Portfolio
ING Solution 2035 Portfolio
ING Solution 2045 Portfolio
ING Solution Income Portfolio
ING T. Rowe Price Diversified Mid Cap Growth
Portfolio
ING T. Rowe Price Growth Equity Portfolio
ING Templeton Foreign Equity Portfolio
ING Thornburg Value Portfolio
ING UBS U.S. Large Cap Equity Portfolio
ING UBS U.S. Small Cap Growth Portfolio
ING Van Kampen Comstock Portfolio
ING Van Kampen Equity and Income Portfolio
ING PRIME RATE TRUST
ING RISK MANAGED NATURAL RESOURCES
FUND
ING SENIOR INCOME FUND
ING SEPARATE PORTFOLIOS TRUST
ING SPorts Core Fixed Income Fund
ING SPorts Core Plus Fixed Income Fund
ING VARIABLE INSURANCE TRUST
ING GET U.S. Core Portfolio - Series 1
ING GET U.S. Core Portfolio - Series 2
ING GET U.S. Core Portfolio - Series 3
ING GET U.S. Core Portfolio - Series 4
ING GET U.S. Core Portfolio - Series 5
ING GET U.S. Core Portfolio - Series 6
ING GET U.S. Core Portfolio - Series 7
ING GET U.S. Core Portfolio - Series 8
ING GET U.S. Core Portfolio - Series 9
ING GET U.S. Core Portfolio - Series 10
ING GET U.S. Core Portfolio - Series 11
ING GET U.S. Core Portfolio - Series 12
ING GET U.S. Core Portfolio - Series 13
ING GET U.S. Core Portfolio - Series 14
ING VP Global Equity Dividend Portfolio
ING VARIABLE PRODUCTS TRUST
ING VP Financial Services Portfolio
ING VP High Yield Bond Portfolio
ING VP International Value Portfolio
ING VP MidCap Opportunities Portfolio
ING VP Real Estate Portfolio
ING VP SmallCap Opportunities Portfolio
(1) Under the terms of the Management Agreement between ING Investors Trust and
Directed Services, LLC, the Fund is subject to a unified fee arrangement.
Accordingly, the portion of SCAS Fees allocated to the Fund under the Agreement
will be borne directly by Directed Services, LLC as provided in the Management
Agreement.
3
40724 Ed.12-90 Printed in U.S.A. INSURED COPY Page 1
DELIVERY INVOICE
Company: ST. PAUL GUARDIAN INSURANCE COMPANY
INSURED
ING FAMILY OF FUNDS
7337 E. DOUBLETREE RANCH RD.
SCOTTSDALE AZ 85258
Policy Inception/Effective Date: 10/01/07
Agency Number: 3142624
Transaction Type:
New Business
Transaction number:
Processing date: 11/05/07
Policy Number: 490PB1692
AGENT
Matt McDonald
Marsh USA
1166 Avenue of the Americas
New York, NY 10036
Policy Surtax/
Number Description Amount Surcharge
490PB1692 ICBB $13,750
The hard copy of the bond issued by the Underwriter will be referenced in the
event of a loss
40724 Ed.12-90 Printed in U.S.A. INSURED COPY Page 2
The hard copy of the bond issued by the Underwriter will be referenced in the
event of a loss
ND044 Ed. 1-05
2005 The St. Paul Travelers Companies, Inc. All Rights Reserved Page 1 of 1
IMPORTANT NOTICE REGARDING INDEPENDENT AGENT AND BROKER COMPENSATION
Your independent agent or broker may receive a commission from us for placing
your insurance with St. Paul Travelers. Your agent or broker may also receive
additional compensation based on their overall relationship with us or for
writing additional policies with us. As in other industries, this additional
compensation rewards these producers for such things as achieving pre-set
profitability goals, volume levels, growth targets, sales contest objectives or
other measures we may set. Please direct any specific questions about your
insurance representative's compensation to him or her.
The hard copy of the bond issued by the Underwriter will be referenced in the
event of a loss
ND059 Ed. 11-06-1
2006 The St. Paul Travelers Companies, Inc. All Rights Reserved
HOW TO REPORT LOSSES, CLAIMS, OR POTENTIAL CLAIMS TO TRAVELERS
Reporting new losses, claims, or potential claims promptly can be critical. It
helps to resolve covered losses or claims as quickly as possible and often
reduces the overall cost. Prompt reporting: better protects the interests of all
parties; helps Travelers to try to resolve losses or claims more quickly; and
often reduces the overall cost of a loss or claim - losses or claims reported
more than five days after they happen cost on average 35% more than those
reported earlier. Report losses, claims, or potential claims to Travelers easily
and quickly by fax, U S mail, or email.
FAX
Use this number to report a loss, claim, or potential claim by fax toll free.
1-888-460-6622
US MAIL
Use this address to report a loss, claim, or potential claim by US Mail.
Bond-FPS Claims Department
Travelers
Mail Code NB08F
385 Washington Street
Saint Paul, Minnesota 55102
EMAIL
Use this address to report a loss, claim, or potential claim by email.
Pro.E&O.Claim.Reporting@SPT.com
This is a general description of how to report a loss, claim, or potential claim
under this policy or bond. This description does not replace or add to the terms
of this policy or bond. The policy or bond alone determines the scope of
coverage. Please read it carefully for complete information on coverage. Contact
your agent or broker if you have any questions about coverage.
The hard copy of the bond issued by the Underwriter will be referenced in
the event of a loss
XS100 Ed. 5-05
2005 The Travelers Companies, Inc. Page 1 of 5
X ST. PAUL FIRE AND MARINE INSURANCE COMPANY
ST. PAUL MERCURY INSURANCE COMPANY
ST. PAUL GUARDIAN INSURANCE COMPANY
A Capital Stock Company
EXCESS FOLLOW FORM
TRAVELERS FORM
DECLARATIONS: Excess Follow Form Number: 490PB1692
The Company designated above (herein called Underwriter) issues this Excess
Follow Form to:
Item 1.
Named Insured:
ING Family of Funds
7337 E. Doubletree Ranch RD
Scottsdale, AZ 85258
(herein called Insured).
Item 2.
Excess Follow Form Period: The Excess Follow Form Period shall be effective at
12:01 A.M. on 10/01/2007 and expire at 12:01 A.M. on 10/01/2008 local time as to
each of said dates, subject to Section 5. of the Terms, Conditions and
Limitations of this Excess Follow Form.
Item 3. Single Loss Limit of Liability: $5,000,000
Item 4. Aggregate Limit of Liability: $5,000,000
Item 5. Schedule of Underlying Insurance:
(A) 1. Underlying Insurer: Federal Insurance Company
2. Bond or Policy Number: 81905981
3. Bond or Policy Period: From: 10/01/2007 To: 10/01/2008
4. Limit of Liability: Single Loss Limit of Liability $25,000,000
Aggregate Limit of Liability $25,000,000
5. Single Loss Deductible: $25,000
(B) 1. Underlying Insurer:
2. Bond or Policy Number:
3. Bond or Policy Period: From: To:
4. Limit of Liability: Single Loss Limit of Liability Aggregate
Limit of Liability
(C) 1. Underlying Insurer:
2. Bond or Policy Number:
3. Bond or Policy Period: From: To:
4. Limit of Liability: Single Loss Limit of Liability Aggregate
Limit of Liability
The hard copy of the bond issued by the Underwriter will be referenced in
the event of a loss
XS100 Ed. 5-05
2005 The Travelers Companies, Inc. Page 2 of 5
(D) 1. Underlying Insurer:
2. Bond or Policy Number:
3. Bond or Policy Period: From: To:
4. Limit of Liability: Single Loss Limit of Liability Aggregate
Limit of Liability
Item 6. Total amount of Underlying Single Loss Limit of Liability
The total amount of Underlying Single Loss Limit of Liability is $25,000,000
plus any Single Loss Deductible under the Bond or Policy identified in Item 5.
(A) of the Declarations of this Excess Follow Form.
Item 7. Total amount of Underlying Aggregate Limit of Liability each Excess
Follow Form
Period The total amount of Underlying Aggregate Limit of Liability
each Excess Follow Form Period is $25,000,000 plus any Single Loss Deductible
under the Bond or Policy identified in Item 5. (A) of the Declarations of this
Excess Follow Form.
Item 8. Subject to the Declarations, Insuring Clause, Terms, Conditions and
Limitations and Endorsements of this Excess Follow Form and as excepted below,
this Excess Follow Form follows the form of:
Insurer's Name: Federal Insurance Company
Bond or Policy Number: 81905981
Effective Date: 10/01/2007
Except as provided below:
Item 9. The Insured, by acceptance of this Excess Follow Form, gives notice to
the Underwriter terminating or canceling prior Bond or Policy Numbers NA
such termination or cancellation to be effective as of the time this Excess
Follow Form becomes effective.
Item 10. The liability of the Underwriter is subject to the terms of the
following endorsements attached hereto: NA
/s/ Bruce Backberg
Secretary
/s/ Brian MacLean
President
Executed this 6th day of November 2007 , .Countersigned
The hard copy of the bond issued by the Underwriter will be referenced in the
event of a loss
XS100 Ed. 5-05
2005 The Travelers Companies, Inc. Page 3 of 5
EXCESS FOLLOW FORM
Travelers Form
INSURING CLAUSE
In consideration of the payment of the premium, and in reliance upon
completeness and accuracy of the statements and disclosures made to the
Underwriter and any issuer of Underlying Insurance by application, including all
attachments, subject to the Declarations, Insuring Clause, Terms, Conditions and
Limitations and Endorsements of this Excess Follow Form, this Excess Follow Form
is subject to the same Insuring Clause(s), Terms, Conditions and Limitations and
Endorsements as provided by the Bond or Policy identified in Item 8. of the
Declarations of this Excess Follow Form. In no event shall this Excess Follow
Form provide broader coverage than would be provided by the most restrictive
Underlying Insurance.
This Excess Follow Form is not subject to the same premium or the Limit of
Liability of the Bond or Policy identified in Item 8. of the Declarations.
TERMS, CONDITIONS AND LIMITATIONS
Section 1. Underlying Coverage
A. The Insured(s) shall notify the Underwriter in writing, as soon as
practicable, of a failure to maintain in full force and effect, without
alteration, the coverage and provisions of the Bond(s) or Policy(ies) identified
in Item 5. of the Declarations.
B. In the event there is no recovery available to the Insured as a result of the
insolvency of any Underlying Insurer or the Insured's failure to comply with the
maintenance of any Underlying Insurance, the coverage hereunder shall apply as
excess of the amount of all Underlying Insurance plus the amount of any
applicable deductible to the same extent as if the Underlying Insurance were
maintained in full force and effect.
C. If the coverage and provisions of the Bond or Policy identified in Item 8. of
the Declarations are altered, the Insured shall, as soon as practicable, give
the Underwriter written notice of such alteration(s); and upon receipt of
written consent to such alteration(s) from the Underwriter, the Insured shall
pay any additional premium required by the Underwriter. This Excess Follow Form
shall not follow the form of any alteration(s) to the Bond or Policy identified
in Item 8. of the Declarations unless such written notice thereof is given by
the Insured(s) to the Underwriter, the Underwriter gives written consent to such
alteration(s) and the Insured(s) pay(s) any additional premium required by the
Underwriter.
D. Except as provided in Sections 2.D. and 2.E. below, in no event shall the
Underwriter be liable to pay loss under this Excess Follow Form until the total
amount of the Underlying Single Loss Limit of Liability as stated in Item 6. of
the Declarations has been exhausted solely by reason of the payment of loss by
the Underlying Insurer(s) as covered loss under the applicable Underlying
Insurance.
E. Any claim, loss or coverage that is subject to a Sublimit in any Underlying
Insurance shall not be considered covered loss under this Excess Follow Form,
but shall, for purposes of this Excess Follow Form, reduce or exhaust the
Underlying Limit of Liability to the extent such payment reduces or exhausts the
aggregate limit(s) of liability of such Underlying Insurance.
Section 2. Limit of Liability
A. Payment by the Underwriter of l oss covered under this Excess Follow Form
shall reduce the Aggregate Limit of Liability of this Excess Follow Form set
forth in Item 4. of the Declarations. In the event of exhaustion of the
Aggregate Limit of Liability of this Excess Follow Form set forth in Item 4. of
the Declarations, the Underwriter shall be relieved of all further liability
under this Excess Follow Form.
B. The Underwriter's maximum liability for a Single Loss covered under this
Excess Follow Form shall not exceed the amount of the Single Loss Limit of
Liability stated in Item 3. of the Declarations. Also, the Underwriter's maximum
liability for all loss(es) in the aggregate covered under this Excess Follow
Form shall not exceed the amount of the Aggregate Limit of Liability stated in
Item 4. of the Declarations, which shall be the maximum liability of the
Underwriter in the Excess Follow Form Period stated in Item 2. of the
Declarations.
C. Except as provided in Sections 2.D. and 2.E. below, the Underwriter shall
only be liable to make payment for a Single Loss covered under this Excess
Follow Form after the total amount of the Underlying Single Loss Limit of
Liability as stated in Item 6. of the Declarations has been paid solely by
reason of the payment of loss by the Underlying Insurer(s) as covered loss under
the applicable Underlying Insurance.
The hard copy of the bond issued by the Underwriter will be referenced in the
event of a loss
XS100 Ed. 5-05
2005 The Travelers Companies, Inc. Page 4 of 5
D. In the event the total amount of the Underlying Aggregate Limit of Liability
as stated in Item 7. of the Declarations is reduced solely by reason of the
payment of covered loss by any Underlying Insurer to an amount less than the
total amount of the Underlying Single Loss Limit of Liability as stated in Item
6. of the Declarations, this Excess Follow Form shall pay covered loss excess of
the reduced total amount of Underlying Aggregate Limit of Liability, but not to
exceed the amount of the Single Loss Limit of Liability stated in Item 3. of the
Declarations, and subject always to the remaining Aggregate Limit of Liability
of this Excess Follow Form.
E. In the event of exhaustion of the total amount of Underlying Aggregate Limit
of Liability as set forth in Item 7. of the Declarations, solely by reason of
the payment of covered loss by the Underlying Insurer(s), this Excess Follow
Form shall continue in force as primary insurance, provided always that this
policy shall only pay covered loss excess over any retention or deductible
amount otherwise applicable under the Underlying Insurance scheduled in Item 5.
(A) of the Declarations, such amount not to exceed the Single Loss Limit of
Liability stated in Item 3. of the Declarations and subject always to the
remaining Aggregate Limit of Liability of this Excess Follow Form.
Section 3. Joint Insureds
If two or more Insureds are covered under this Excess Follow Form, the first
named Insured shall act for all Insureds. Payment by the Underwriter to the
first named Insured or to any named Insured of loss covered under this Excess
Follow Form shall fully release the Underwriter on account of such loss. The
liability of the Underwriter for loss(es) sustained by all Insureds shall not
exceed the amount for which the Underwriter would have been liable had all such
loss(es) been sustained by one Insured.
Section 4. Notice / Proof of Loss - Legal Proceedings Against Underwriter
A. The Insured(s) shall, within the time and manner prescribed in the Bond or
Policy identified in Item 8. of the Declarations, give the Underwriter notice of
any loss of the kind covered by this Excess Follow Form, whether or not the
Underwriter is liable therefor in whole or in part, and upon request of the
Underwriter, the Insured(s) shall file with the Underwriter a written statement
of such loss and a copy of all correspondence between the Insured(s) and any
Insurer identified in Item 5. of the Declarations. Notice given to any Insurer
identified in Item 5. of the Declarations of this Excess Follow Form shall not
constitute notice as required under Section 4. of the Terms, Conditions and
Limitations of this Excess Follow Form.
B. The Insured(s) shall, within the time and manner prescribed in the Bond or
Policy identified in Item 8. of the Declarations, file with the Underwriter a
proof of loss for any loss of the kind covered by this Excess Follow Form,
whether or not the Underwriter is liable therefore in whole or in part, and upon
request of the Underwriter the Insured(s) shall furnish a copy of all documents
provided to or made available to any Insurer identified in Item 5. of the
Declarations in support of any proof of loss filed with such Insurer. Filing of
a proof of loss with any Insurer identified in Item 5. of the Declarations shall
not constitute filing a proof of loss with the Underwriter as required in
Section 4. of the Terms, Conditions and Limitations of this Excess Follow Form.
C. Legal proceedings against the Underwriter shall be commenced within the time
prescribed in the Bond or Policy identified in Item 8. of the Declarations and
only after complying with all the Terms, Conditions and Limitations of this
Excess Follow Form.
D. Notice and proof of loss under this Excess Follow Form shall be given to the
Professional E&O Claim Unit, Mail Code 508F, 385 Washington Street, St. Paul, MN
55102.
Section 5. Excess Follow Form Period
A. The term Excess Follow Form Period as used in this Excess Follow Form shall
mean the lesser of the period stated in Item 2. of the Declarations or the time
between the effective date and the termination date of this Excess Follow Form.
B. The Aggregate Limit of Liability set forth in Item. 4. of the Declarations
shall not be cumulated regardless of the number of Excess Follow Form Periods
this Excess Follow Form has been in force; the number of renewals of this Excess
Follow Form by the Underwriter; any extensions of the Excess Follow Form Period
of this Excess Follow Form by the Underwriter; the number of and amount of
premiums paid by the Insured, or the number of Excess Follow Form Periods of
this Excess Follow Form in which the acts giving rise to a loss(es) were
committed or occurred.
The hard copy of the bond issued by the Underwriter will be referenced in the
event of a loss
XS100 Ed. 5-05
2005 The Travelers Companies, Inc. Page 5 of 5
Section 6. Single Loss Defined
As used herein, Single Loss shall be defined as that term, or any similar term,
as defined in the Bond or Policy identified in Item 8. of the Declarations.
Section 7. Cancellation of this Excess Follow Form by the Underwriter or the
Insured
This Excess Follow Form terminates as an entirety upon occurrence of any of the
following: (a) after the receipt by the Insured of a written notice from the
Underwriter of its desire to cancel this Excess Follow Form in accordance with
the conditions and limitations of any Bond or Policy identified in Item 5. of
the Declarations, (b) immediately upon the receipt by the Underwriter of a
written notice from the Insured of its desire to cancel this Excess Follow Form,
or (c) immediately upon cancellation, termination or nonrenewal of the
Underlying Bond or Policy identified in Item 8. of the Declarations, whether by
the Insured or the applicable Underwriter.
In witness whereof, the Underwriter has caused this Excess Follow Form to be
executed on the Declarations page.
The hard copy of the bond issued by the Underwriter will be referenced in
the event of a loss