Directed Services LLC
Exhibit 77(e)(5)
Directed Services LLC
0000 Xxxxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000
May 1, 2010
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Xxxxxxxxxx, XX 00000
Ladies and Gentlemen:
Pursuant to the Investment Sub-Advisory Agreement dated March 29, 2002, as amended, between Directed Services LLC and American Century Investment Management, Inc., (the “Sub-Advisory Agreement”) the sub-advisory fee for ING American Century Small-Mid Cap Value Portfolio (the “Portfolio”) was reduced on January 19, 2006.
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, 2010 through May 1, 2011. The Reduction shall be calculated as follows:
Reduction = 50% x (the savings to Directed Services LLC from the January 19, 2006 expense reduction)
Please indicate your agreement to this Reduction by executing below in the place indicated.
Very sincerely,
/s/ Xxxx Xxxxx
Xxxx Xxxxx
Vice President
Directed Services LLC
Agreed and Accepted:
ING Partners, Inc.
(on behalf of the Portfolio)
By: /s/ Xxxxxxxx X. Xxxxxxxx
Xxxxxxxx X. Xxxxxxxx
Senior Vice President