Directed Services LLC
Exhibit (d)(1)(xi)
Directed Services LLC
0000 Xxxxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000
May 1, 2012
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Suite 100
Scottsdale, AZ 85258
Ladies and Gentlemen:
Pursuant to the Sub-Advisory Agreement dated October 31, 2005, as amended, between Directed Services LLC and Xxxxx Selected Advisers, LP, (the “Sub-Advisory Agreement”) the sub-advisory fee for ING Xxxxx New York Venture Portfolio (the “Portfolio”), was reduced on September 1, 2009.
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, 2012 through May 1, 2013. The Reduction shall be calculated as follows:
Reduction = 50% x (the savings to Directed Services LLC from the September 1, 2009 sub-advisory reduction)
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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