Directed Services, LLC

Exhibit 99.B(d)(16)(vii)

 

Directed Services, LLC

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January 1, 2007

 

 

ING Partners, Inc.

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Ladies and Gentlemen:

 

Pursuant to the Investment Sub-Advisory Agreement dated December 16, 2002, as amended, between Directed Services, LLC and JPMorgan Asset Management (U.K.) Limited, (the “Sub-Advisory Agreement”) the sub-advisory fee for ING JPMorgan International Portfolio (the “Portfolio”) was reduced June 1, 2006, and further reduced October 1, 2006.

 

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 October 1, 2006 through and including May 1, 2008. The Reduction shall be calculated as follows:

 

Reduction = 50% x (sub-advisory fee on 5/31/06 - sub-advisory fee on 10/1/06)

 

The old and new fee schedules to the Sub-Advisory Agreement are attached. Please indicate your agreement to this Reduction by executing below in the place indicated.

 

 

			Very sincerely,
			/s/ ▇▇▇▇ ▇▇▇▇▇
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			Vice President
			Directed Services, LLC
Agreed and Accepted:
ING Partners, Inc.
(on behalf of the Portfolio)
By:	/s/ ▇▇▇▇▇▇ ▇. Naka
	▇▇▇▇▇▇ ▇. Naka
	Executive Vice President