ING Life Insurance and Annuity Company
Exhibit 99.B(d)(16)(v)
ING Life Insurance and Annuity Company
000 Xxxxxxxxxx Xxxxxx, XX00, Xxxxxxxx, XX 00000-0000
October 1, 2006
Xxxxx Xxxxxx
Vice President - JPMorgan Asset Management
Client Service Manager
000 Xxxxx Xxxxxx - 00xx Xxxxx
Xxx Xxxx, XX 00000
Dear Xx. Xxxxxx:
Pursuant to Sections 3 and 14 of the Investment Sub-Advisory Agreement dated December 16, 2002, as amended, between ING Life Insurance and Annuity Company and X.X. Xxxxxx Asset Management (U.K.) Limited (the “Agreement”) we hereby modify the fees payable to the Subadviser for ING JPMorgan International Portfolio (the “Portfolio”), effective October 1, 2006.
Upon your acceptance, the Agreement will be modified to reflect the fee changes to the sub-advisory fees for the Portfolio as indicated on Amended Appendix A of the Agreement. The Amended Appendix A, with the annual sub-advisory fees indicated for the Portfolio, is attached hereto.
Please signify your acceptance of the modified fees under the Agreement with respect to the Portfolio by signing below.
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Very sincerely, |
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/s/ Xxxx Xxxxx |
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Xxxx Xxxxx |
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Vice President |
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ING Life Insurance and Annuity Company |
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ACCEPTED AND AGREED TO: |
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X.X. Xxxxxx Asset Management (U.K.) Limited |
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By: |
/s/ Xxxxx Worth |
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Name: |
Xxxxx Worth |
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Title: |
Vice President |
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AMENDED APPENDIX A
Fee Schedule
For the services provided by the Subadviser to the following series of ING Partners, Inc., pursuant to the attached Investment Sub-Advisory Agreement, the Adviser will pay the Subadviser a fee, computed daily and payable monthly, based on the average daily net assets of the series at the following annual rates of the average daily net assets of the series:
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SERIES |
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RATE |
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ING JPMorgan International Portfolio |
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0.50% on the first $100 million |
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0.40% on the next $100 million |
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0.35% on the next $150 million |
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0.30% on assets thereafter |
If the Adviser or any of its affiliates appoints the Subadviser or any of its affiliates to manage another portfolio(s) following the Subadviser’s “EAFE PLUS” investment strategy (“New Portfolio”), the assets of the New Portfolio will be aggregated with the assets of the Series in calculating the Subadviser’s fee at the above stated rate.
