March 1, 2017 Todd Modic Senior Vice President Voya Investments, LLC Suite 100 Scottsdale, AZ 85258 Ladies and Gentlemen:
(d)(1)(iv)
March 1, 2017
Xxxx Xxxxx
Senior Vice President
Voya Investments, LLC
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Suite 100
Scottsdale, AZ 85258
Ladies and Gentlemen:
Pursuant to the Sub-Advisory Agreement executed on November 18, 2014, between Delaware Investments Fund Advisers (“Delaware”), a sub-adviser to Voya Multi-Manager Emerging Markets Equity Fund (the “Fund”), a series of Voya Mutual Funds (“VMF”), and Voya Investments, LLC (“VIL”), the sub-advisory fee rate payable by VIL to Delaware on behalf of the Fund was reduced on July 1, 2015.
By our execution of this letter agreement, we hereby notify you of our intention to lower the annual investment management fee for the Fund with a corresponding reduction, if a benefit exists, based upon the aggregate blended sub-advisory fee of all sub-advisory fee rates for the Fund (the “Reduction”) for the period from March 1, 2017 through March 1, 2018. The Reduction shall be calculated as follows:
Reduction = 50% x (aggregate blended sub-advisory fee rate computed based on all sub-advisory fee rates for the Fund prior to July 1, 2015 — the aggregate blended sub-advisory fee rate computed based on all sub-advisory fee rates after the Reduction).
Notwithstanding the foregoing, termination or modification of this letter requires approval of the Board of Trustees of VMF.
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Please indicate your agreement to this reduction 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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Voya Investments, LLC |
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AGREED AND ACCEPTED: |
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(on behalf of the Fund) |
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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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