Exhibit (d)(3)(ii)
Exhibit (d)(3)(ii)
May 1, 2020
Voya Variable Portfolios, Inc.
0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx
Suite 100
Scottsdale, AZ 85258-2034
Re: Expense Limitations
Ladies and Gentlemen:
By execution of this letter agreement to the Expense Limitation Agreement ("ELA") between Voya Investments, LLC ("VIL") and Voya Variable Portfolios, Inc. ("VVPI"), on behalf of Xxxx Xxxxxxx™ Large Cap Index Portfolio, Xxxx Xxxxxxx™ Mid Cap Growth Index Portfolio and Xxxx Xxxxxxx™ Mid Cap Index Portfolio (collectively, the "Portfolios"), intending to be legally bound hereby, VIL, the investment manager to the Portfolios, agrees that, from May 1, 2020 through May 1, 2021, VIL shall 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 Portfolios shall be as follows:
Series
Maximum Operating Expense Ratios
(as a percentage of average net assets)
|
Adviser |
Class I |
Class P2 |
Class S |
Class S2 |
|
Class |
|
|
|
|
Xxxx Xxxxxxx™ Large Cap |
0.86% |
0.36% |
N/A |
0.61% |
0.76% |
Index Portfolio |
|
|
|
|
|
Xxxx Xxxxxxx™ Mid Cap |
N/A |
0.40% |
N/A |
0.65% |
0.80% |
Growth Index Portfolio |
|
|
|
|
|
Xxxx Xxxxxxx™ Mid Cap Index |
0.90% |
0.40% |
N/A |
0.65% |
0.80% |
Portfolio |
|
|
|
|
|
We are willing to be bound by this letter agreement to lower our fees for the period from May 1, 2020 through May 1, 2021. The method of computation to determine the amount of the fee waiver and the definitions as set forth in the ELA shall apply. 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. This letter agreement shall terminate upon termination of the ELA.
May 1, 2020
Page 2
Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Directors of VVPI.
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. |
