EX-99.B(D)(5)(II) 10 a08-21925_1ex99dbd5ii.htm EX-99.B(D)(5)(II)

Exhibit 99.B(d)(5)(ii)

 

 

April 4, 2008

 

ING Series Fund, Inc.

ING Strategic Allocation Portfolios, Inc.

7337 East Doubletree Ranch Road

Scottsdale, Arizona 85258-2034

 

Re:          Expense Limitations

 

Ladies and Gentlemen:

 

By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, ING Investments, LLC (“IIL”), the Adviser to ING Strategic Allocation Conservative Fund, ING Strategic Allocation Growth Fund, and ING Strategic Allocation Moderate Fund, each a series of ING Series Fund, Inc., and ING VP Strategic Allocation Conservative Portfolio, ING VP Strategic Allocation Growth Portfolio, and ING VP Strategic Allocation Moderate Portfolio, each a Series of ING Strategic Allocation Portfolios, Inc. (collectively, the “Funds”), agrees that as a result of the conversion of each of the Funds to a fund-of-funds structure, IIL shall, from April 4, 2008 through and including April 4, 2011, waive all or a portion of its investment management fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios of the Funds shall be reflected as below:

 

 

 

Maximum Operating Expense Limit(1)
(as a percentage of average net assets)

 

Name of Fund

 

Class A

 

Class B

 

Class C

 

Class I

 

Class O

 

Class R

 

Class S

 

ING Strategic Allocation Moderate Fund
Term Expires April 7, 2011

 

1.20

%

1.95

%

1.95

%

0.95

%

1.20

%

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ING Strategic Allocation Growth Fund
Term Expires April 7, 2011

 

1.25

%

2.00

%

2.00

%

1.00

%

1.25

%

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ING Strategic Allocation Conservative Fund
Term Expires April 7, 2011

 

1.15

%

1.90

%

1.90

%

0.90

%

1.15

%

N/A

 

N/A

 

 

(1)  These operating expense limits take into account operating expenses incurred at the underlying Fund level.

 

7337 East Doubletree Ranch Road

Tel: 480.477.3000

ING Investments, LLC

Scottsdale, AZ 85258-2034

Fax: 480.477.2700

 

www.ingfunds.com

 

 

 


 

 

 

Maximum Operating Expense Limit(1)
(as a percentage of average net assets)

 

Name of Fund

 

Class A

 

Class B

 

Class C

 

Class I

 

Class O

 

Class R

 

Class S

 

ING VP Strategic Allocation Moderate Portfolio
Term Expires April 7, 2011

 

1.20

%

N/A

 

N/A

 

0.70

%

N/A

 

N/A

 

0.95

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ING VP Strategic Allocation Growth Portfolio
Term Expires April 7, 2011

 

1.21

%

N/A

 

N/A

 

0.71

%

N/A

 

N/A

 

0.96

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ING VP Strategic Allocation Conservative Portfolio
Term Expires April 7, 2011

 

1.15

%

N/A

 

N/A

 

0.65

%

N/A

 

N/A

 

0.90

%

 

(1)  These operating expense limits take into account operating expenses incurred at the underlying Fund level.

 

Please indicate your agreement to this reduction in fee by executing below in the place indicated.

 

 

 

ING Investments, LLC

 

By:

  /s/ Todd Modic

 

 

   Todd Modic

 

 

   Senior Vice President

Accepted:

 

 By:

  /s/ Kimberly A. Anderson

 

 

 

  Kimberly A. Anderson

 

 

  Senior Vice President

 

 

  ING Series Fund, Inc.

 

 

  ING Strategic Allocation
  Portfolios, Inc.

 

 

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