Directed Services LLC
Exhibit 99.B(d)(11)(viii)
Directed Services LLC
0000 Xxxxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000
May 1, 2010
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Xxxxxxxxxx, XX 00000
Ladies and Gentlemen:
Pursuant to the Investment Sub-Advisory Agreement dated March 11, 2002, as amended, between Xxxxxx Xxxxxxx Investment Management Inc. d/b/a Xxx Xxxxxx and Directed Services LLC (the “Sub-Advisory Agreement”) the sub-advisory fee for ING Xxx Xxxxxx Xxxxxxxx Portfolio (the “Portfolio”) was reduced on June 1, 2005, and further reduced on April 30, 2007.
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, 2010 through May 1, 2011. The Reduction shall be calculated as follows:
The Reduction is calculated as follows:
Reduction = 50% x (the savings to Directed Services LLC from the June 1, 2005 and April 30, 2007 expense reductions)
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 Partners, Inc.
(on behalf of the Portfolio)
By: |
/s/ Xxxxxxxx X. Xxxxxxxx |
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Xxxxxxxx X. Xxxxxxxx |
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Senior Vice President |
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