June 1, 2009 ING Partners, Inc.
Exhibit 99.B(d)(1)(xi)
June 1, 2009
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Scottsdale, AZ 85258
Ladies and Gentlemen:
By our execution of this letter agreement, we hereby notify you that, during periods when ING Xxxxxxxxx Foreign Equity Portfolio (the “Portfolio”), a series of ING Partners, Inc., managed by Directed Services LLC (“DSL”) and sub-advised by Xxxxxxxxx Investment Counsel, LLC (“Xxxxxxxxx”), invests in Xxxxxxxxx Institutional Funds-Foreign Smaller Companies Series (the “Underlying Funds”), DSL will waive its fees with respect to the Portfolio’s assets invested in the Underlying Funds. The waiver will be equal to the advisory fee, received by Xxxxxxxxx from the Underlying Funds attributable to Xxxxxxxxx’x management of the Portfolio assets that are invested in the Underlying Funds.
Please indicate your agreement to this waiver by executing below in the place indicated.
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Very sincerely, |
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By: |
/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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0000 X. Xxxxxxxxxx Xxxxx Xx. Scottsdale, AZ 00000-0000 |
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Tel: 000-000-0000 Fax: 000-000-0000 xxx.xxxxxxxx.xxx |
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Directed Services LLC |
