August 3, 2009 Todd Modic Senior Vice President ING Investments, LLC Scottsdale, AZ 85258 Dear Mr. Modic:

(d)(2)(v)

August 3, 2009

Xxxx Xxxxx

Senior Vice President

ING Investments, LLC

0000 X. Xxxxxxxxxx Xxxxx Xx.

Scottsdale, AZ 85258

Dear Xx. Xxxxx:

ING Investments, LLC (“ING Investments”) and ING Investment Management Co. (“ING IM”) are parties to a Sub-Advisory Agreement dated March 1, 2002, as amended (the “Agreement”), and pursuant to an Acceptance Letter dated August 3, 2009, ING Investments has agreed to pay ING IM an annual sub-advisory fee of 0.27% as a percentage of average daily net assets of ING Dow Xxxxx Euro STOXX 50^® Index Portfolio, ING FTSE 100 Index Portfolio, and ING Japan Equity Index Portfolio, and 0.2025% as a percentage of average daily net assets of ING Nasdaq 100 Index Portfolio (each a “Portfolio” and collectively, the “Portfolios”). By this letter dated August 3, 2009, ING IM voluntarily waives a portion of the annual sub-advisory fee that it is entitled to receive as follows:

ING IM will waive 0.1125% of the sub-advisory fee payable by ING Investments for a period of three years for the period from August 3, 2009 through and including August 5, 2012 for each 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 Dow Xxxxx Euro STOXX 50® Index Portfolio		0.27	%		0.1125	%		0.1575	%
ING FTSE 100 Index Portfolio		0.27	%		0.1125	%		0.1575	%
ING Japan Equity Index Portfolio		0.27	%		0.1125	%		0.1575	%
ING Nasdaq 100 Index Portfolio		0.2025	%		0.1125	%		0.09	%

August 3, 2009

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Please acknowledge your acceptance of this fee waiver by executing below in the place indicated.

Very sincerely,

/s/ Xxxxxxx X. Xxxxxx

Xxxxxxx X. Xxxxxx

Chief Operating & Financial Officer

ING Investment Management Co.

ACCEPTED AND AGREED TO: ING Investments, LLC
By:		/s/ Xxxx Xxxxx
		Xxxx Xxxxx Senior Vice President