May 1, 2010
Exhibit 99.B(m)(5)(i)
May 1, 2010
ING Partners, Inc.
0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx
Scottsdale, Arizona 85258-2034
Ladies and Gentlemen:
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, ING Funds Distributor, LLC (the “Distributor”) agrees to waive, from May 1, 2010 through May 1, 2011, a portion of its service fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios of the Service Class shares of ING Baron Small Cap Growth Portfolio, a series of ING Partners, Inc., shall be as follows:
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Maximum Operating Expense Ratios |
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Series |
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Service Class |
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ING Baron Small Cap Growth Portfolio |
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1.31% |
The Distributor acknowledges that: (1) it shall not be entitled to collect on or make a claim for waived fees at any time in the future; and (2) it shall not be entitled to collect on or make a claim for reimbursed expenses at any time in the future.
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ING Funds Distributor, LLC |
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By: |
/s/ Xxxx Xxxxx |
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Xxxx Xxxxx |
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Senior Vice President |
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Accepted: |
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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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ING Partners, Inc. |
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0000 X. Xxxxxxxxxx Xxxxx Xx. |
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Tel: 000-000-0000 |
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ING Funds Distributor, LLC |
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Scottsdale, AZ 00000-0000 |
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Fax: 000-000-0000 |
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xxx.xxxxxxxx.xxx |
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