ING Investments, LLC
ING Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xx.
Suite 100
Scottsdale, AZ 85258-2034
Exhibit (d)(1)(C)(iv)
May 1, 2013
0000 X. Xxxxxxxxxx Xxxxx Xx.
Suite 100
Scottsdale, AZ 85258
Ladies and Gentlemen:
Pursuant to the Sub-Advisory Agreement dated January 3, 2006 (the “Agreement”) between ING Investments, LLC and ING Clarion Real Estate Securities L.P. (“Clarion”), as amended, the sub-advisory fee for ING Clarion Global Real Estate Portfolio (the “Portfolio”) was reduced on May 1, 2009.
By our execution of this letter agreement, we hereby notify you of our intention to lower the annual investment management fee for the Portfolio with a corresponding reduction
(the “Reduction”) for the period from May 1, 2013 through May 1, 2014. The Reduction shall be calculated as follows:
Reduction = 50% x (the savings to ING Investments, LLC from the May 1, 2009 expense reductions)
The Reduction shall be limited to an annual maximum of 50% of the savings to ING Investments, LLC based on the level of assets of the Portfolio on May 1, 2009.
Please indicate your agreement to these Reductions by executing below in the place indicated.
Very sincerely,
/s/ Xxxx Xxxxx
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
Agreed and Accepted:
(on behalf of the Portfolio)
| By: | /s/ Xxxxxxxx X. Xxxxxxxx Xxxxxxxx X. Xxxxxxxx Senior Vice President |
