Payment Amount

For purposes of the Employment Agreement, as amended hereby, the date of termination of your employment is December 6, 2012;

Your Pro-Rata ICP Award (as defined in Section 6(c)(2)) shall be calculated in the same manner as ICP bonuses were calculated for the 2011 ICP performance year for an employee with a rating of 3 (i.e. bonus shall range from 70%-90% of target if the bonus pool is funded at 100% and such target range shall be adjusted upward or downward, respectively, if the bonus pool is ultimately is funded at greater than or less than 100%);

The lead-in to Section 7(d) prior to the colon is amended and restated in its entirety to read as follows: “During your employment and for the 6-month period following termination of your employment for any reason, you will not directly or indirectly”;

Section 7(d) is amended to add the following to the end thereof: “Notwithstanding anything herein to the contrary, solely for purposes of this Section 7(d), “Competitive Enterprise” means the companies set forth on Attachment A hereto and incorporated herein by reference.”

The first clause of Section 7(e) is amended and restated in its entirety to read as follows: “During your employment and for the 12-month period following termination of your employment for any reason”; and

The first clause of Section 7(f) is amended and restated in its entirety to read as follows: “During your employment and for the 24-month period following termination of your employment for any reason, you will not attempt to Solicit anyone who is then an employee of the Company or any of its subsidiaries (or who was an employee of the Company or any of its subsidiaries within the prior six months) to resign from the Company or any of its subsidiaries or to apply for or accept employment with any other company or individual; provided, however, that this Section 7(f) shall not apply to (i) your personal assistant(s) and/or (ii) any employee whose employment is terminated at the initiative of the Company.”

Date of Birth: 3 ###-###-#### (51 years old)

Service: 9/4/2007 (5 years)

Key Employee: Yes

•   Termination Notice Period

•   Contract provides that the Termination Date is 90 days after termination notice.

•   Value shown is 90 days of continued base salary.

•   Severance Benefit

•   Contract provides severance benefit equal to “lump sum payment equal to base salary”, payable consistent with 409(A).

•   Value shown is 1 times annual base salary.

•   Contract provides that Executive will be eligible for a 2012 STIP award prorated through the termination date (12/06/12).

•   2012 STIP

•   Proration to be based on number of days worked through 2012.

TBD

To be determined in March 2013

•   Award will be determined in 2013 based on a “3” rating and expected to paid in March 2013.

•   leo Stock Options

•   Subject to the execution of an irrevocable release and per ING Group policy for redundancy, all unvested stock options will vest and all options will be exercisable for a 12-month period after the termination date.

$314,809

(Current in-the-money value of options based on December 6, 2012 stock price)

Final value not determinable until date of exercise.

•   leo Performance Shares
(2010—2012 Cycle)

•   Subject to the execution of an irrevocable release and per ING Group of policy for redundancy, Executive will receive an unprorated award of this final tranche of leo Performance Shares within two and a half months of the termination date based on TSR results as of 6/30/12 (100%) as determined by ING Group. The payment was calculated by multiplying the 39,420 shares by the closing share price on the day following termination (12/7/12).

$95,471

(Final payment calculated using most recent TSR results (100%) and December 7, 2012 closing stock price).

•   LSPP Performance Shares
(2011-2013 Cycle)

•   Subject to the execution of an irrevocable release and per ING Group policy for redundancy, the 2012 portion of the 2011 LSPP performance shares would normally be paid within two and a half months of the termination date. The 2013 portion, payable in March 2014, would be forfeited. The payment was calculated by multiplying the 44,893 shares by the 100% performance multiplier and the opening share price on the termination date (12/6/12).

•   LSPP Performance Shares
(2012-2014 Cycle)

•   Subject to the execution of an irrevocable release and per ING Group policy for redundancy, the 2012 portion of the 2012 LSPP performance shares would normally be paid within two and a half months of the termination date. The 2013 and 2014 portions would be forfeited. The payment was calculated by multiplying the 32,536 shares by the 100% performance multiplier and the opening share price on the termination date (12/6/12).

•   DBD Deferred Shares

(Deferred 2009 STIP Award)

•   Subject to the execution of an irrevocable release and per ING Group policy for redundancy, Executive will vest on the termination date in all outstanding shares. The final payment was determined by multiplying the 66,568 shares by the opening share price on the termination date.

$623,224

(Final payment calculated using December 6, 2012 opening stock price).

•   LSPP Deferred Shares

•   Subject to the execution of an irrevocable release and per ING Group policy for redundancy, Executive will vest on the termination date in all outstanding shares. The payment was determined by multiplying the 39,570 shares by the opening share price on the termination date.

$370,463

(Final payment calculated using December 6, 2012 opening stock price).

•   2010 Restricted Stock

•   Subject to the execution of an irrevocable release and per the Restricted Stock Agreement, Executive will partially vest as a result of involuntary termination. Executive will vest in 124,448 shares following the termination date.

$1,165,108

(Current value assuming December 6, 2012 opening stock price)

Final value not determined until after termination date.

•   Deferred Compensation Plan (IM)

•   Subject to the execution of an irrevocable release and per the plan, Executive will fully vest upon termination in the IM deferred compensation plan balances which were created for the 2009 STIP deferral.

$723,377

(Final payment as calculated in the Global Shares System)

•   2011 Deal Incentive

•   Persuant to its terms, Executive will forfeit $2,000,000 Deal Incentive on termination date if prior to IPO or trade sale of the ING U.S. business.

•   PTO

•   Subject to the execution of an irrevocable release and per ING U.S. policy, Executive will receive payment of PTO accrued through the termination date less PTO taken.

$83,076.92

(192 accrued hours to be paid out)

•   Is fully vested in 401(k) matching dollars.

•   401(k) Plan

•   The Executive’s 401(k) plan) account balance may continue to be invested in the Plan in accordance with his investment directions or may be distributed at any time in accordance with his elections. The balance as of December 14, 2012 was $519,836.16.

•   Has fully vested pension benefit, payable pursuant to the terms of the plan.

•   Pension Plan

•   The Executive may elect to receive this pension benefit reduced for early retirement starting at or after age 55.

•   SERP

•   The monthly single life annuity pension benefit payable from the SERP will be paid beginning at the Executive’s age 55 pursuant to the terms of the plan and consistent with 409(A). Under current regulations, the present value of the SERP pension benefit will be subject to FICA taxes at the time benefit payments commence. The amount of FICA taxes the Executive will owe will be based on the tax rates in effect and the form of annuity payment elected.

•   Executive’s Deferred Compensation Savings Plan account will be distributed according to confirmed elections, consistent with 409(A).

•   DCSP (Deferred Compensation Savings Plan)

—ING Fixed Interest

Rate Fund:

$5,493,905.83

—ING Growth

Opportunities I:

$202,276.12

—ING Mid Cap

Opportunities I:

$196,374.89

—ING Small Cap

Opportunities I:

$205,044.75

•   COBRA

•   Executive may elect to continue health care coverage (medical, dental and vision) under COBRA, subject to his election within 45 days and payment of premiums. COBRA premiums will be billed directly to the Executive on a monthly basis at 102% of the cost of coverage, as permitted by COBRA.

•   Insider Trading Policy

•   As a Management Council and Executive Committee member, subject to insider trading policy restrictions in place with ING Group and ING U.S.