January 1, 2016

(d)(1)(iii)

January 1, 2016

Voya Variable Portfolios, Inc.

0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx

Suite 100

Scottsdale, Arizona 85258-2034

Re:     Management Fee Waiver

Ladies and Gentlemen:

By execution of this letter agreement, intending to be legally bound hereby, Voya Investments, LLC (“VIL”), the adviser to Xxxx Xxxxxxx™ Large Cap Growth Index Portfolio and Xxxx Xxxxxxx™ Large Cap Value Index Portfolio (together, the “Portfolios”), agrees that, from January 1, 2016 through May 1, 2017, VIL shall waive all or a portion of its management fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios, excluding acquired fund fees and expenses, of the Portfolios shall be as follows:

Name of Fund		Maximum Operating Expense Ratios (as a percentage of average net assets)
		Adviser Class		Class I		Class S
Xxxx Xxxxxxx™ Large Cap Growth Index Portfolio		0.93%		0.43%		0.68%
Xxxx Xxxxxxx™ Large Cap Value Index Portfolio		0.93%		0.43%		0.68%

We are willing to be bound by this letter agreement to lower our fees for the period from January 1, 2016 through May 1, 2017. VIL acknowledges that (1) it shall not be entitled to collect on or make a claim for waived fees at any time in the future, and (2) it shall not be entitled to collect on or make a claim for reimbursed expenses at any time in the future.

January 1, 2016

Page 2

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

Sincerely,
By:		/s/ Xxxx Xxxxx
		Xxxx Xxxxx
		Senior Vice President
		Voya Investments, LLC

Accepted:
By:		/s/ Xxxxxxxx X. Xxxxxxxx
		Xxxxxxxx X. Xxxxxxxx
		Senior Vice President
		Voya Variable Portfolios, Inc.