August 5, 2013
Exhibit 99.77(q)(e)(4)
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 Amended Investment Management Agreement dated April 1, 2004 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.
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| Very sincerely, | |
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| By: | /s/ Xxxx Xxxxx |
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| Xxxx Xxxxx |
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| Senior Vice President |
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| ING Investments, LLC |
Agreed and Accepted: |
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By: | /s/ Xxxxxxxx X. Xxxxxxxx |
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| Xxxxxxxx X. Xxxxxxxx |
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| Senior Vice President |
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0000 X. Xxxxxxxxxx Xxxxx Xx. Suite 100 Scottsdale, AZ 00000-0000 | Tel: 000-000-0000 Fax: 000-000-0000 | ING Investments, LLC |