Re: Expense Limitations
(d)(4)(vii)
July 21, 2012
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ING Series Fund, Inc.
0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx
Xxxxx 000
Xxxxxxxxxx, XX 00000-0000
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Re:
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Expense Limitations
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Ladies and Gentlemen:
By our execution of this letter agreement, intending to be legally bound hereby, ING Investments, LLC (“ING Investments”), the Adviser to ING XXXX Cap Equity Fund (formerly, ING Index Plus MidCap Fund, the “Fund”), agrees that ING Investments shall, from July 21, 2012 through October 1, 2013, waive all or a portion of its investment management fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios of the Fund shall be as follows:
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Name of Fund
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Maximum Operating Expense Limit
(as a percentage of average net assets)
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||||||
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Classes
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|||||||
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A
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B
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C
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I
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O
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R
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W
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ING XXXX Cap Equity Fund (formerly, ING Index Plus MidCap Fund)
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0.99%
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1.74%
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1.49%
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0.74%
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0.99%
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1.24%
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0.74%
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We are willing to be bound by this letter agreement (the “Waiver Letter”) to lower our fees for the period from July 21, 2012 through October 1, 2013, subject to shareholder approval of the merger of ING Index Plus SmallCap Fund with and into the Fund. The method of computation to determine the amount of the fee waiver and the definitions as set forth in the Expense Limitation Agreement shall apply, subject to possible recoupment by ING Investments within three years.
[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
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0000 X. Xxxxxxxxxx Xxxxx Xx.
Suite 100
Scottsdale, AZ 00000-0000
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Tel: 000-000-0000
Fax: 000-000-0000
xxx.xxxxxxxx.xxx
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ING Investments, LLC
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July 21, 2012
Page 2 of 2
This Waiver Letter shall have an initial term with respect to the Fund ending on October 1, 2013. Thereafter, this Waiver Letter shall automatically renew for one-year terms with respect to the Fund unless it is terminated by the Fund or by ING Investments upon written notice within 90 days of the end of the current term or upon termination of the Investment Management Agreement.
Sincerely,
/s/ Xxxx Xxxxx
Name: Xxxx Xxxxx
Title: Senior Vice President
