Contract

(d)(1)(iii)

August 5, 2013

ING Variable Portfolios, Inc.

0000 X. Xxxxxxxxxx Xxxxx Xx.

Suite 100

Scottsdale, AZ 85258

Ladies and Gentlemen:

By this letter dated August 5, 2013, we have agreed to waive a portion of the investment management fee payable to us under the Investment Management Agreement dated May 7, 2013 between ING Investments, LLC and ING Variable Portfolios, Inc., as amended (the “Agreement”), with respect to ING Euro STOXX 50^® Index Portfolio (formerly, ING Dow Xxxxx Euro STOXX 50^® Index Portfolio), ING FTSE 100 Index^® Portfolio, and ING Japan TOPIX Index^® Portfolio (formerly, ING Japan Equity Index Portfolio) (collectively, the “Portfolios”), each a series of ING Variable Portfolios, Inc., in the amount of 0.25% per annum. By this letter, we agree to waive that fee for the period from August 5, 2013 through May 1, 2014.

ING Investments, LLC acknowledges that any fees waived during the term of this Agreement shall not be eligible for recoupment at any time in the future.

Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Directors of ING Variable Portfolios, Inc.

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

		Very sincerely,
By:		/s/ Xxxx Xxxxx
		Xxxx Xxxxx
		Senior Vice President
		ING Investments, LLC

Agreed and Accepted:

ING Variable Portfolios, Inc.

(on behalf of the Portfolios)

By:		/s/ Xxxxxxx X. Xxxxxx
		Xxxxxxx X. Xxxxxx
		Executive Vice President

0000 X. Xxxxxxxxxx Xxxxx Xx. Suite 100 Scottsdale, AZ 00000-0000 Tel: 000-000-0000 Fax: 000-000-0000 ING Investments, LLC