Contract

(d)(3)(iii)

March 14, 2014

ING Variable Portfolios, Inc.

0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx

Suite 100

Scottsdale, AZ 85258-2034

Re:    Expense Limitations

Ladies and Gentlemen:

  By our execution of this letter agreement, intending to be legally bound hereby, ING Investments, LLC (“IIL”), the adviser to ING International Index Portfolio (the “Portfolio”), agrees that IIL shall, from the close of business on March 14, 2014 through May 1, 2016, 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 Portfolio shall be as follows:

Series		Maximum Operating Expense Ratios (as a percentage of average net assets)
		Adviser Class		Class I		Class S		Class S2
ING International Index Portfolio		0.98%		0.48%		0.73%		0.88%

  We are willing to be bound by this letter agreement to lower our fees for the period from the close of business on March 14, 2014 through May 1, 2016. The method of computation to determine the amount of the fee waiver and the definitions as set forth in the Expense Limitation Agreement shall apply, subject to possible recoupment by IIL within three years. This letter agreement shall terminate upon termination of the Expense Limitation Agreement.

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

Sincerely,
By:		/s/ Xxxx Xxxxx
		Xxxx Xxxxx
		Senior Vice President

0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx		Tel: 480-477.3000		ING Investments, LLC
Suite 100		Fax: 000.000.0000
Scottsdale, AZ 85258-2034		xxx.xxxxxxxx.xxx