May 1, 2012
Exhibit (m)(5)(i)
May 1, 2012
ING Partners, Inc.
0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx
Suite 100
Scottsdale, Arizona 85258-2034
Ladies and Gentlemen:
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, ING Investments Distributor, LLC (the “Distributor”) agrees to waive, from May 1, 2012 through May 1, 2013, a portion of its service fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios of the Service Class shares of ING Baron Growth Portfolio, formerly known as ING Baron Small Cap Growth Portfolio, a series of ING Partners, Inc., shall be as follows:
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Maximum Operating Expense Ratios |
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Series |
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Service Class |
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ING Baron Growth Portfolio (formerly, ING Baron Small Cap Growth Portfolio) |
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1.31 |
% |
The Distributor acknowledges that: (1) it shall not be entitled to collect on or make a claim for waived fees at any time in the future; and (2) it shall not be entitled to collect on or make a claim for reimbursed expenses at any time in the future.
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ING Investments Distributor, LLC | |
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By: |
/s/ Xxxxxxx X. Xxxxxx |
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Xxxxxxx X. Xxxxxx |
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Executive Vice President |
Accepted:
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By: |
/s/ Xxxx Xxxxx |
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Xxxx Xxxxx |
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Senior Vice President |
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ING Partners, Inc. |
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0000 X. Xxxxxxxxxx Xxxxx Xx. Suite 100 Scottsdale, AZ 00000-0000 |
Tel: 000-000-0000 Fax: 000-000-0000 xxx.xxxxxxxx.xxx |
ING Investments Distributor, LLC |
