LETTER TO CHANGE THE BENCHMARKING
INVESTMENT MANAGEMENT
June 22, 2010
The City of Clearwater Employees' Pension Fund (the "Client') wishes to change the benchmark
referenced in the letter agreement (the "Agreement") dated June 23, 1982, as amended from time to
time, by and between the Client and ING Investment Management Co. ("ING IM.", formerly known
as Aetna Capital Management, Inc.).
Effective Q" ??- , 2010* the new benchmark for the Client's Large Cap Growth
portfolio managed by the ING IM will be the Russell 1000 Growth Index. As such, all references to
the S&P 500 Index shall be changed to the Russell 1000 Growth Index, wherever such benchmark is
referenced in the Agreement, including the Statement of Investment Objectives and Guidelines.
*Please sped effective date on or after June 30, 2010
ING Investment Management Co.
By: ,LWi?
Name: Eileen Madden
Title: Senior Vice President
Countersigned:
City of ZCIater, Florida
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By: 4 A4?
Name: William B. Horne It
Title: -City Manager
Ap oved as to form:
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Ct le?t __
Assistant City Att