Contract
(d)(1)(iv)
July 14, 2023
0000 X. Xxxxxxxxxx Xxxxx Xxxx
Suite 100
Scottsdale, AZ 85258-2034
Re: Management Fee Waiver
Ladies and Gentlemen:
By this letter dated July 14, 2023, we have agreed to waive a portion of the management fee payable to us under the Investment Management Agreement, dated November 18, 2014, as amended and restated on May 1, 2015, between Voya Investments, LLC ("VIL") and Voya Mutual Funds ("VMF") (the "Agreement"), with respect to Voya Multi-Manager Emerging Markets Equity Fund (the "Fund"), a series of VMF. By this letter, we agree to waive that fee, as indicated in the table below, for the period from the close of business on July 14, 2023 through March 1, 2025.
This waiver (the "Waiver") is "outside" the Fund's expense limit arrangements under a separate expense limitation agreement (the "ELA"). This means that the Waiver does not reduce the Fund's net operating expense ratio before the ELA is applied. The Waiver is deducted after the ELA is applied.
VIL acknowledges that any fees waived during the term of this Agreement shall not be eligible for recoupment at any time in the future.
Series |
Waiver |
|
(as a percentage of |
|
average daily net assets) |
Voya Multi-Manager Emerging |
0.020% |
Markets Equity Fund |
|
Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Trustees of VMF.
REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
July 14, 2023
Page 2
Please indicate your agreement to this reduction in fee for the aforementioned Fund by signing below where indicated.
Very sincerely,
By: /s/ Xxxx Xxxxx
Name: Xxxx Xxxxx
Title: Senior Vice President
Voya Investments, LLC
ACCEPTED AND AGREED TO:
By: /s/ Xxxxxxxx X. Xxxxxxxx
Name: Xxxxxxxx X. Xxxxxxxx
Title: Senior Vice President, Xxxx Authorized
