Directed Services LLC] March 14, 2014 ING Partners, Inc. Suite 100 Scottsdale, AZ 85258 Ladies and Gentlemen:
(d)(1)(x)
[Directed Services LLC]
March 14, 2014
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Suite 100
Scottsdale, AZ 85258
Ladies and Gentlemen:
By this letter dated March 14, 2014, we have agreed to waive a portion of the investment management fee payable to us under the Investment Management Agreement dated May 7, 2013 between Directed Services LLC and ING Partners, Inc., as amended (the “Agreement”), with respect to ING Invesco Equity and Income Portfolio (the “Portfolio”), a series of ING Partners, Inc., in the amount of 0.01% per annum. By this letter, we agree to waive that fee for the period from the close of business on March 14, 2014 through May 1, 2016.
Directed Services LLC acknowledges that any fees waived during the term of this Agreement shall not be eligible for recoupment at any time in the future.
Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Directors of ING Partners, Inc.
Please indicate your agreement to this reduction in fee by executing below in the place indicated.
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Very sincerely, | |
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By: |
/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/ Xxxxxxxx X. Xxxxxxxx |
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Xxxxxxxx X. Xxxxxxxx |
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Senior Vice President |
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