March 1, 2015 Todd Modic Senior Vice President Voya Investments, LLC Suite 100 Scottsdale, AZ 85258 Ladies and Gentlemen:
(d)(1)(iii)
March 1, 2015
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, dated December 17, 2007, between Xxxxxxxx Investment Management North America, Inc. (“Schroder”), a former sub-adviser to Voya Multi-Manager International Small Cap Fund (the “Fund”), a series of Voya Mutual Funds, and Voya Investments, LLC (“VIL”), the sub-advisory fee rate payable by VIL to Schroder on behalf of the Fund was reduced on June 1, 2009.
Pursuant to the Sub-Advisory Agreement, dated March 1, 2005, between Acadian Asset Management LLC (“Acadian”), sub-adviser to the Fund, and VIL, the sub-advisory fee rate payable by VIL to Acadian on behalf of the Fund was reduced on January 1, 2010. On November 18, 2014, Acadian executed a new Sub-Advisory Agreement.
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, 2015 through March 1, 2016. The Reduction shall be calculated as follows:
Reduction = 50% x (aggregate blended sub-advisory fee of all sub-advisory fee rates for the Fund prior to the June 1, 2009 — the aggregate blended sub-adviser fee rates after January 1, 2010).
Notwithstanding the foregoing, termination or modification of this letter requires approval of the Board of Trustees of Voya Mutual Funds.
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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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