Directed Services LLC
Directed Services LLC
0000 Xxxxxxxx Xxxxx, Xxxx Xxxxxxx, XX 00000
Exhibit 99.77(q)(e)(2)
May 1, 2013
ING Partners, Inc.
0000 X. Xxxxxxxxxx Xxxxx Xx.
Xxxxx 000
Xxxxxxxxxx, XX 00000
Ladies and Gentlemen:
Pursuant to the Sub-Advisory Agreement, dated June 7, 2011, as amended (the “Sub-Advisory Agreement”), between Directed Services LLC (“DSL”) and ING Investment Management Co., now known as ING Investment Management Co. LLC (“IIM”), the sub-advisory fee for ING Global Bond Portfolio (formerly, ING Xxxxxxxxxxx Global Strategic Income Portfolio, the “Portfolio”) was reduced on January 21, 2011 in connection with the sub-adviser change to IIM.
By our execution of this letter agreement, we hereby notify you of our intention to lower the annual advisory fee for the Portfolio with a corresponding reduction (the “Reduction”) for the period from May 1, 2013 through May 1, 2014. The Reduction shall be calculated as follows:
Reduction = 50% x (the savings to DSL from the January 21, 2011 expense reduction)
Please indicate your agreement to this Reduction by executing below in the place indicated.
Very sincerely,
By:
/s/Xxxx Xxxxx
Xxxx Xxxxx
Vice President
Directed Services LLC
Agreed and Accepted:
ING Partners, Inc.
(on behalf of the Portfolio)
By:
/s/Xxxxxxxx X. Xxxxxxxx
Xxxxxxxx X. Xxxxxxxx
Senior Vice President