Exhibit 99.B(d)(11)(iii)
[ING LOGO]
ING Life Insurance and Annuity Company
000 Xxxxxxxxxx Xxxxxx, XX00, Xxxxxxxx, XX 00000-0000
February 9, 2005
Xxxx Xxxxxx
American Century Investment Management, Inc.
000 Xxxxxxxxx Xxx. Xxxx., Xxxxx 0-000
Xxxxxxx, XX 00000
Dear Xx. Xxxxxx:
Pursuant to Section 1 of the Investment Sub-Advisory Agreement dated March
29, 2002, as amended, between ING Life Insurance and Annuity Company and
American Century Investment Management, Inc. (the "Agreement") we hereby notify
you of our intention to retain you as Sub-Adviser to render investment advisory
services to ING American Century Large Company Value Portfolio, a series of ING
Partners, Inc. (the "New Series"), upon all of the terms and conditions set
forth in the Agreement. Upon your acceptance, the Agreement will be modified to
give effect to the foregoing by adding the above-mentioned New Series to AMENDED
APPENDIX A of the Agreement, effective April 29, 2005. The AMENDED APPENDIX A,
with the annual sub-advisory fees indicated for each series, is attached hereto.
Please signify your acceptance to act as Sub-Adviser under the Agreement
with respect to the New Series by signing below.
Very sincerely,
/s/ Xxxxxx X. Xxxxxxxxxxx
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Xxxxxx X. Xxxxxxxxxxx
Vice President
ING Life Insurance and Annuity Company
ACCEPTED AND AGREED TO:
American Century Investment Management, Inc.
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
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Title: President
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AMENDED APPENDIX A
TO
INVESTMENT SUBADVISORY AGREEMENT
BETWEEN
ING LIFE INSURANCE AND ANNUITY COMPANY
AND
AMERICAN CENTURY INVESTMENT MANAGEMENT, INC.
PORTFOLIOS ANNUAL SUBADVISER FEE
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(AS A PERCENTAGE OF AVERAGE DAILY NET ASSETS)
ING American Century Large Company Value 0.40% on the first $500 million of assets(2)
Portfolio and ING American Century Select 0.35% on the next $500 million of assets
Portfolio(1) 0.30% on assets in excess of $1 billion
ING American Century Small Cap Value Portfolio 0.80% on the first $50 million of assets
0.75% on assets over $50 million
(1) These Portfolios and any other large cap U.S. equity portfolios managed by
Adviser and sub-advised by Subadviser will be combined and assets
aggregated to determine the Annual Subadviser Fee.
(2) The Annual Subadviser Fee on the first $500 million will be reduced to
0.35% if Adviser's cumulative U.S. large cap assets under management
sub-advised by Subadviser exceed $650 million.
2
