Contract
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(d)(5)(i) |
February 28, 2011
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xx.
Suite 100
Scottsdale, AZ 85258
Dear Xx. Xxxxx:
ING Investments, LLC (“ING Investments”) and ING Investment Management Asia/Pacific (Hong Kong) Limited (“IIM Asia/Pacific”) are parties to a Sub-Advisory Agreement dated on or about February 28, 2011, under which ING Investments has agreed to pay IIM Asia/Pacific an annual sub-advisory fee of 0.27% as a percentage of average daily net assets of ING Australia Index Portfolio (the “Portfolio”). By this letter dated February 28, 2011, IIM Asia/Pacific voluntarily waives a portion of the annual sub-advisory fee that it is entitled to receive as follows:
IIM Asia/Pacific will waive 0.1125% of the sub-advisory fee payable by ING Investments for a period from on or about February 28, 2011 through and including May 1, 2014 for the Portfolio, as indicated in the net sub-advisory fee rate reflected in the schedule set out below.
Annual Sub-Advisory Fee | ||||||||||||
Series |
Gross | Waiver | Net | |||||||||
ING Australia Index Portfolio |
0.27 | % | 0.1125 | % | 0.1575 | % |
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February 28, 2011
Page 2 of 2
Please acknowledge your acceptance of this fee waiver by executing below in the place indicated.
Very sincerely, | ||
ING Investment Management Asia/Pacific | ||
(Hong Kong) Limited | ||
By: |
/s/ Xxxxxx Xxxx | |
Name: |
Xxxxxx Xxxx | |
Title: |
Director | |
By: |
/s/ Xxxx Xxxxx | |
Name: |
Xxxx Xxxxx | |
Title: |
Director |
ACCEPTED AND AGREED TO: | ||
ING Investments, LLC | ||
By: |
/s/ Xxxx Xxxxx | |
Xxxx Xxxxx | ||
Senior Vice President |