May 1, 2023 Voya Variable Products Trust
Exhibit (d)(3)(iii)
May 1, 2023
0000 X. 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 Products Trust ("VVPT"), on behalf of Voya MidCap Opportunities Portfolio (the "Portfolio"), intending to be legally bound hereby, VIL, the investment manager to the Portfolio, agrees that, from May 1, 2023 through May 1, 2024, 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 Portfolio shall be as follows:
|
|
Maximum Operating Expense Limit |
| ||
|
|
(as a percentage of average net assets) |
| ||
Name of Portfolio |
|
|
Share Classes |
|
|
|
Adviser |
I |
R6 |
S |
S2 |
Voya MidCap Opportunities Portfolio |
1.16% |
0.66% |
0.66% |
0.91% |
1.06% |
We are willing to be bound by this letter agreement to lower our fees for the period from May 1, 2023 through May 1, 2024. 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.
REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
May 1, 2023
Page 2
Notwithstanding the foregoing, termination or modification of this letter requires approval by the Board of Trustees of VVPT.
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 | |
