Directed Services LLC May 1, 2016
(d)(1)(A)(iii)
Directed Services LLC
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May 1, 2016
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Voya Partners, Inc. | |
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Ladies and Gentlemen:
Pursuant to the Portfolio Management Agreement dated October 24, 1997 and amended and restated January 21 2011, as amended, among Voya Investors Trust, Directed Services LLC, and X. Xxxx Price Associates, Inc. (“X. Xxxx Price”) on behalf of VY® X. Xxxx Price Equity Income Portfolio (“TRP Equity Income Portfolio”), a series of Voya Investors Trust; and pursuant to the Investment Subadvisory Agreement dated December 14, 2000, as amended, between Directed Services LLC and X. Xxxx Price Associates, Inc., on behalf of VY® X. Xxxx Price Growth Equity Portfolio, a series of Voya Partners, Inc. (“TRP Growth Equity Portfolio,” and together with TRP Equity Income Portfolio, the “Portfolios”), the sub-advisory fee rates for the Portfolios were reduced on June 1, 2010, and the sub-advisory fee rate for TRP Equity Income Portfolio was further reduced on May 1, 2011. On November 18, 2014, X. Xxxx Price executed a new Portfolio Management Agreement with respect to TRP Equity Income Portfolio and a new Investment Subadvisory Agreement with respect to TRP Growth Equity Portfolio.
By our execution of this letter agreement, we hereby notify you of our intention to lower the annual management fee for the Portfolios with a corresponding reduction (the “Reduction”) for the period from May 1, 2016 through May 1, 2017. The Reduction shall be calculated as follows:
Reduction = 50% x (total aggregated savings in excess of $500,000 as a result of the sub-advisory fee schedule effective June 1, 2010 with respect to TRP Equity Income Portfolio and TRP Growth Equity Portfolio and effective May 1, 2011 with respect to TRP Equity Income Portfolio pro rata based on each Portfolio’s contribution to the amount saved)
Notwithstanding the foregoing, termination or modification of this letter agreement requires approval by the Boards of Trustees/Directors of the Registrants.
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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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Vice President | |
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Directed Services LLC | |
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Agreed and Accepted: |
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(on behalf of VY® X. Xxxx Price Equity Income Portfolio) |
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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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Agreed and Accepted: |
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Voya Partners, Inc. |
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(on behalf of VY® X. Xxxx Price Growth Equity Portfolio) |
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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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