June 1, 2009 ING Partners Inc.
Exhibit 99.B(d)(17)(iv)
June 1, 2009
0000 X. Xxxxxxxxxx Xxxxx Xx.
Scottsdale, AZ 85258
Ladies and Gentlemen:
By our execution of this letter agreement, we hereby notify you that, during periods when ING Xxxxxxxxx Foreign Equity Portfolio (the “Portfolio”), a series of ING Partners, Inc. managed by Directed Services LLC (“DSL”) and sub-advised by Xxxxxxxxx Investment Counsel, LLC (“Xxxxxxxxx”), invests in Xxxxxxxxx Institutional Funds-Foreign Smaller Companies Series (the “Underlying Fund”), Xxxxxxxxx will waive its fees with respect to the Portfolio’s assets invested in the Underlying Fund. The waiver will be calculated as follows: (1) the value of the assets of the Portfolio that are invested in the Underlying Fund shall be divided by the value of the Underlying Fund’s daily average net assets for the month; and (2) the product of the foregoing calculation shall be multiplied by the value of the advisory fee due to Xxxxxxxxx from the Underlying Fund for that calendar month”. The waiver will be effective as of June 1, 2009.
Please indicate your agreement to this waiver 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 |
Agreed and Accepted:
Xxxxxxxxx Investment Counsel, LLC
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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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0000 X. Xxxxxxxxxx Xxxxx Xx. |
Tel: 000-000-0000 |
Directed Services LLC |
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Scottsdale, AZ 00000-0000 |
Fax: 000-000-0000 |
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xxx.xxxxxxxx.xxx |
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