EX-99.(D)(2)(I) 3 p71852b1exv99wxdyx2yxiy.txt EXHIBIT 99.(D)(2)(I) [ING LOGO] EXHIBIT 99.(d)(2)(i) April 28, 2006 Mr. Michael Gioffre ING Investment Management Co. 10 State House Square Hartford, CT 06103-3602 Dear Mr. Gioffre: 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/ Todd Modic ----------------------------------- Todd Modic Senior Vice President ING Investments, LLC ACCEPTED AND AGREED TO: ING Investment Management Co. By: /s/ J. Scott Fox -------------------------------- Name: J. Scott Fox Title: Vice Chairman and COO, Duly Authorized 7337 E. Doubletree Ranch Rd. Tel: 480-477-3000 ING Investments, LLC Scottsdale, AZ 85258-2034 Fax: 480-477-2700 www.ingfunds.com AMENDED SCHEDULE A WITH RESPECT TO THE SUB-ADVISER AGREEMENT BETWEEN ING INVESTMENTS, LLC AND ING INVESTMENT MANAGEMENT CO.
FUND ANNUAL INVESTMENT MANAGEMENT FEE --------------------------------------- ----------------------------------------------- (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 VP MidCap 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
2