May 1, 2015 Voya Mutual Funds
Exhibit 99.77(q)(1)(e)(1)
May 1, 2015
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Suite 100
Scottsdale, AZ 85258
Ladies and Gentlemen:
By this letter dated May 1, 2015, we have agreed to waive the management fee payable to us under the Investment Management Agreement, dated November 18, 2014, as amended and restated on May 1, 2015, between Voya Investments, LLC and Voya Mutual Funds (the “Agreement”), with respect to Class P shares of Voya Global Bond Fund (the “Fund”), a series of Voya Mutual Funds. Such waiver will be in an amount equal to the management fees allocated to, and otherwise payable by, the Class P shares of the Fund, thereby reducing the post-waiver fee rate payable by the Class P shares to 0.00%.
By this letter, we agree to waive the management fee for the period from May 1, 2015 through March 1, 2016.
Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Trustees of Voya Mutual Funds.
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May 1, 2015
Page 2
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 | ||
| Voya Investments, LLC |
Agreed and Accepted:
(on behalf of the Funds)
| By: | /s/ Xxxxxxxx X. Xxxxxxxx | |
| Xxxxxxxx X. Xxxxxxxx | ||
| Senior Vice President |
