Contract
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(d)(2)(ii) |
May 7, 2013
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 Co. LLC, formerly, ING Investment Management Co. (“ING IM”) are parties to a Sub-Advisory Agreement dated May 7, 2013, as amended (the “Agreement”), and pursuant to the Agreement, ING Investments has agreed to pay ING IM an annual sub-advisory fee of 0.2475% as a percentage of average daily net assets of ING Emerging Markets Index Portfolio (the “Portfolio”). By this letter dated May 7, 2013, ING IM voluntarily waives a portion of the annual sub-advisory fee that it is entitled to receive as follows:
ING IM will waive 0.0675% of the sub-advisory fee payable by ING Investments for a period from May 7, 2013 through May 1, 2014 for the Portfolio, as indicated in the net sub-advisory fee rate reflected in the schedule set out below. This letter replaces the previous letter for the Portfolio, dated November 30, 2011.
Annual Sub-Advisory Fee | ||||||
Series |
Gross |
Waiver | Net | |||
ING Emerging Markets Index Portfolio |
0.2475% | 0.0675% | 0.18% |
Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Directors of ING Variable Portfolios, Inc.
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May 7, 2013
Page 2 of 2
Please acknowledge your acceptance of this fee waiver by executing below in the place indicated.
Very sincerely, | ||
By: | /s/ Xxxxxxxxxxx Xxxxx | |
Xxxxxxxxxxx Xxxxx | ||
Vice President, Finance | ||
ING Investment Management Co. LLC |
ACCEPTED AND AGREED TO:
ING Investments, LLC
By: | /s/ Xxxx Xxxxx | |
Xxxx Xxxxx | ||
Senior Vice President |