Directed Services LLC May 1, 2013 ING Partners, Inc. Suite 100 Scottsdale, AZ 85258 Ladies and Gentlemen:
(d)(1)(xi)
Directed Services LLC
0000 Xxxxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000
May 1, 2013
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Xxxxx 000
Xxxxxxxxxx, XX 00000
Ladies and Gentlemen:
Pursuant to the Investment Sub-Advisory Agreement dated March 11, 2002, as amended, between Xxxxxx Xxxxxxx Investment Management Inc. d/b/a Xxx Xxxxxx and Directed Services LLC (“DSL”), which was replaced by the Investment Sub-Advisory Agreement dated June 1, 2010 between Invesco Advisers, Inc. and DSL as a result of a change of control (the “Sub-Advisory Agreement”), the sub-advisory fee for ING Invesco Xxxxxxxx Portfolio (the “Portfolio”), formerly known as ING Invesco Xxx Xxxxxx Xxxxxxxx Portfolio, was reduced on June 1, 2005, and further reduced on April 30, 2007.
By our execution of this letter agreement, we hereby notify you of our intention to lower the annual investment management fee for the Portfolio with a corresponding reduction (the “Reduction”) for the period from May 1, 2013 through May 1, 2014. The Reduction shall be calculated as follows:
The Reduction is calculated as follows:
Reduction = 50% x (the savings to Directed Services LLC from the June 1, 2005 and April 30, 2007 expense reductions)
Please indicate your agreement to this Reduction by executing below in the place indicated.
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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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Directed Services LLC | |
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Agreed and Accepted: |
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ING Partners, Inc. |
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(on behalf of the Portfolio) |
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By: |
/s/ Xxxxxxxx X. Xxxxxxxx |
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Xxxxxxxx X. Xxxxxxxx |
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Senior Vice President |
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