Directed Services LLC May 1, 2011
(d)(3)(xi)
Directed Services LLC
0000 Xxxxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000
May 1, 2011
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ING Investors Trust |
ING Partners, Inc. |
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0000 X. Xxxxxxxxxx Xxxxx Xx. |
0000 X. Xxxxxxxxxx Xxxxx Xx. |
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Suite 000 |
Xxxxx 000 |
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Scottsdale, AZ 85258 |
Scottsdale, AZ 85258 |
Ladies and Gentlemen:
Pursuant to the Portfolio Management Agreement dated October 24, 1997 and amended and restated January 21 2011, as amended, among ING Investors Trust, Directed Services LLC, and X. Xxxx Price Associates, Inc. on behalf of ING X. Xxxx Price Equity Income Portfolio (“TRP Equity Income Portfolio”), a series of ING Investors Trust, and pursuant to the Investment Subadvisory Agreement dated December 14, 2000, as amended, between Directed Services LLC and X. Xxxx Price Associates, Inc., on behalf of ING X. Xxxx Price Growth Equity Portfolio, a series of ING Partners, Inc. (“TRP Growth Equity Portfolio,” and together with TRP Equity Income Portfolio, the “Portfolios”), the sub-advisory fee rates for the Portfolios were reduced on June 1, 2010, and the sub-advisory fee rate for TRP Equity Income Portfolio was further reduced on May 1, 2011.
By our execution of this letter agreement, we hereby notify you of our intention to lower the annual investment management fee for the Portfolios with a corresponding reduction (the “Reduction”) for the period from June 1, 2010 through May 1, 2012. The Reduction shall be calculated as follows:
Reduction = 50% x (total aggregated savings in excess of $500,000 as a result of the sub-advisory fee schedule effective June 1, 2010 with respect to TRP Equity Income Portfolio and TRP Growth Equity Portfolio and effective May 1, 2011 with respect to TRP Equity Income Portfolio pro rata based on each Portfolio’s contribution to the amount saved)
This letter agreement amends the previous letter agreement for the Portfolios dated June 1, 2010.
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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 |
Agreed and Accepted:
ING Investors Trust
(on behalf of ING X. Xxxx Price Equity Income 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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Agreed and Accepted:
ING Partners, Inc.
(on behalf of ING X. Xxxx Price Growth Equity 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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