[ING LOGO]
EXHIBIT 99.(d)(2)(i)
April 28, 2006
Xx. Xxxxxxx Xxxxxxx
ING Investment Management Co.
00 Xxxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000-0000
Dear Xx. Xxxxxxx:
Pursuant to the Sub-Adviser Agreement dated August 7, 2001, as amended,
between ING Investments, LLC and ING Investment Management Co. (the
"Agreement"), we hereby modify the fees payable to the Sub-Adviser for ING VP
High Yield Bond Portfolio (the "Portfolio"). Upon your acceptance, the Agreement
will be modified to give effect to the foregoing by modifying the annual
sub-advisory fee for the Portfolio as indicated on AMENDED SCHEDULE A of the
Agreement, effective April 28, 2006. The AMENDED SCHEDULE A, with the annual
sub-advisory fees indicated for the Portfolio, is attached hereto.
AMENDED SCHEDULE A has also been updated with the removal of ING VP
Disciplined LargeCap Portfolio and ING VP MagnaCap Portfolio as these funds
recently merged into other funds.
Please signify your acceptance to the modification of the annual
sub-advisory fee for the Portfolio by signing below where indicated.
Very sincerely,
/s/ Xxxx Xxxxx
-----------------------------------
Xxxx Xxxxx
Senior Vice President
ING Investments, LLC
ACCEPTED AND AGREED TO:
ING Investment Management Co.
By: /s/ X. Xxxxx Xxx
--------------------------------
Name: X. Xxxxx Xxx
Title: Vice Chairman and XXX, Xxxx Authorized
0000 X. Xxxxxxxxxx Xxxxx Xx. Tel: 000-000-0000 ING Investments, LLC
Scottsdale, AZ 00000-0000 Fax: 000-000-0000
xxx.xxxxxxxx.xxx
AMENDED SCHEDULE A
WITH RESPECT TO THE
SUB-ADVISER AGREEMENT
BETWEEN
ING INVESTMENTS, LLC
AND
ING INVESTMENT MANAGEMENT CO.
FUND ANNUAL INVESTMENT MANAGEMENT FEE
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(as a percentage of average daily net assets)
ING VP Convertible Portfolio 0.3375%
ING VP Financial Services Portfolio 0.3375% of the first $500 million of assets
0.3150% of the assets in excess of $500 million
ING VP High Yield Bond Portfolio 0.2610% of the first $200 million of assets
0.2475% of the next $300 million of assets
0.2250% on the next $500 million of assets
0.2025% of the assets in excess of $1 billion
ING VP International Value Portfolio 0.4500%
ING XX XxxXxx Opportunities Portfolio 0.3375%
ING VP SmallCap Opportunities Portfolio 0.3375% of the first $250 million of assets
0.3150% of the next $250 million of assets
0.2925% of the next $250 million of assets
0.2700% of the next $250 million of assets
0.2475% of the assets in excess of $1 billion
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