Directed Services, LLC
Exhibit 99.B(d)(11)(v)
Directed Services, LLC
0000 Xxxxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000
January 1, 2007
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Xxxxxxxxxx, XX 00000
Ladies and Gentlemen:
Pursuant to the Investment Sub-Advisory Agreement dated March 29, 2002, as amended, between Directed Services, LLC and American Century Investment Management, Inc., (the “Sub-Advisory Agreement”) the sub-advisory fee for ING American Century Small-Mid Cap Value Portfolio (formerly ING American Century Small Cap Value Portfolio) (the “Portfolio”) was reduced.
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 April 28, 2006 through and including May 1, 2007. The Reduction shall be calculated as follows:
Reduction = 50% x (former sub-advisory fee - new sub-advisory fee)
The old and new fee schedules to the Sub-Advisory Agreement are attached. 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 |
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Agreed and Accepted: |
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ING Partners, Inc. |
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(on behalf of the Portfolio) |
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By: |
/s/ Xxxxxx X. Naka |
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Xxxxxx X. Naka |
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Executive Vice President |
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