Document:

EX-10.77

 Exhibit 10.77 
 EQUITY ADMINISTRATION AGREEMENT 
 by and between 

ING GROEP N.V. 
 and 
 ING U.S., INC. 

Dated as of [—], 2013 

 EQUITY ADMINISTRATION AGREEMENT 

THIS EQUITY ADMINISTRATION AGREEMENT (the “Agreement”), dated as of
[—], 2013, is by and between ING Groep N.V., a Netherlands corporation (“Group”), and ING U.S., Inc., a Delaware corporation and wholly owned subsidiary of Group (“ING
U.S.,” and, together with Group, each, a “Party” and collectively, the “Parties”). 

RECITALS 

WHEREAS, the Board of Directors of Group has determined that it is in the best interests of Group to take steps to divest the
business of ING U.S. into an independent public company, in accordance with that certain shareholder agreement between Group and ING U.S. dated as of [—], 2013 (the “Shareholder
Agreement”); and 
 WHEREAS, Group and ING U.S. have agreed to enter into this Agreement for the purposes of
setting forth certain responsibilities of each with respect to the administration of certain employee equity compensation plans, programs and arrangements. 
 NOW, THEREFORE, in consideration of the premises and of the respective agreements and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound, agree as follows: 
 ARTICLE
I 
 DEFINITIONS 
 Section 1.1 Definitions. As used in this Agreement, the following terms shall have the meanings set forth below: 

“Action” means any claim, demand, complaint, charge, action, cause of action, suit, countersuit, arbitration,
litigation, inquiry, proceeding or investigation by or before any Governmental Authority or any arbitration or mediation tribunal. 
 “Agreement” shall have the meaning ascribed thereto in the preamble to this Agreement and shall include any exhibits hereto and all amendments made hereto from time to time. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Former Group Employee” means any former employee of any member of the ING Group. Any individual who is an employee of
any member of the ING U.S. Group on the ING U.S. IPO Date or a Former ING U.S. Employee shall not be a Former Group Employee. 

“Former ING U.S. Employee” means any former employee of any member of the ING U.S. Group. Any individual who is an
employee of any member of the ING Group on the ING U.S. IPO Date or a Former Group Employee shall not be a Former ING U.S. Employee. 

 “Governmental Authority” means any federal, state, local, foreign or
international court, government, department, commission, board, bureau, agency, official, the NYSE or other regulatory, administrative or governmental authority. 
 “Group” shall have the meaning ascribed thereto in the preamble to this Agreement. 
 “Group Common Stock” shall mean Ordinary Shares of Group and American Depositary Shares evidenced by American Depositary Receipts with respect thereto. 

“Group Employee” means any individual who, immediately following the ING U.S. IPO Date, will be employed by Group or any
member of the ING Group in a capacity considered by Group to be common law employment, including active employees and employees on vacation and approved leaves of absence (including maternity, paternity, family, sick, short-term or long-term
disability leave and other approved leaves). 
 “Group Equity Compensation Award” means, collectively, all
outstanding equity compensation awards held by ING U.S. Employees and Former ING U.S. Employees under the Group Share Plans, including, but not limited to, stock options, deferred or restricted stock/unit and performance shares or units. After any
Group Equity Compensation Award is equitably converted, as described in Section 3.2(b) of this Agreement, it shall no longer be considered a Group Equity Compensation Award. 

“Group Options” means options over Group Common Stock held by ING U.S. Employees and Former ING U.S. Employees.

 “GSOP” means the ING Group Standard Share Option Plan. 

“Group Share Plans” means, collectively, the GSOP, LEO, LSPP and any other stock option or stock incentive compensation
plan or arrangement, including equity award agreements, maintained by Group before the ING U.S. IPO Date for employees, officers or non-employee directors of Group or its Subsidiaries, as amended. 

“Information” shall mean all information, whether in written, oral, electronic or other tangible or intangible form,
stored in any medium, including non-public financial information, studies, reports, records, books, accountants’ work papers, contracts, instruments, flow charts, data, communications by or to attorneys, memos and other materials prepared by
attorneys and accountants or under their direction (including attorney work product) and other financial, legal, employee or business information or data. 
 “ING Group” means, as of the ING U.S. IPO Date, Group and each of its former and current Subsidiaries (or any predecessor organization thereof), and any corporation or entity that may
become part of such Group from time to time thereafter. The ING Group shall not include any member of the ING U.S. Group. 

“ING U.S.” shall have the meaning ascribed thereto in the preamble to this Agreement. 

  
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 “ING U.S. Common Stock” means, as of the ING U.S. IPO Date, shares of
common stock of ING U.S. 
 “ING U.S. Employee” means any individual who, immediately following the ING U.S.
IPO Date, will be employed by ING U.S. or any member of the ING U.S. Group in a capacity considered by ING U.S. to be common law employment, including active employees and employees on vacation and approved leaves of absence (including maternity,
paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves).

 “ING U.S. Equity Compensation Awards” means, collectively, (1) all outstanding equity compensation
awards held by ING U.S. Employees under the ING U.S. Share Plans, including, but not limited to, stock options, deferred or restricted stock/unit and performance shares or units granted by ING U.S. on or after the ING U.S. IPO Date and (2) all
Group Equity Compensation Awards after they are equitably converted, as described in Section 3.2(b) of this Agreement. 
 “ING U.S. Group” means, as of the ING U.S. IPO Date, ING U.S. and each of its former and current Subsidiaries (or any predecessor organization thereof), and any corporation or entity that
may become part of such ING U.S. Group from time to time thereafter. For purposes of this Agreement, following the ING U.S. IPO Date, the ING U.S. Group shall not include any member of the ING Group. 

“ING U.S. IPO” means an initial public offering of ING U.S. Common Stock. 

“ING U.S. IPO Date” means the date upon which the initial public offering of ING U.S. Common Stock becomes effective.

 “ING U.S. Share Plans” means, collectively, the 2013 Omnibus Employee Incentive Plan, the 2013 Omnibus
Non-Employee Director Incentive Plan and any other stock option or stock-based incentive compensation plan or arrangement, including equity award agreements, maintained by ING U.S. on or after the ING U.S. IPO Date for employees, officers or
non-employee directors of ING U.S. or its Subsidiaries, as amended. 
 “IRS” means the U.S. Internal Revenue
Service. 
 “Law” means all laws, statutes and ordinances and all regulations, rules and other pronouncements
of Governmental Authorities having the effect of law of the U.S., any foreign country, or any domestic or foreign state, province, commonwealth, city, country, municipality, territory, protectorate, possession or similar instrumentality, or any
Governmental Authority thereof. 
 “Legacy ING U.S. Awards” shall have the meaning ascribed thereto in
Section 3.2(b)(ii) of this Agreement. 

  
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 “LEO” means the ING Group Long Term Equity Ownership Plan. 

“Liabilities” means all debts, liabilities, obligations, responsibilities, Losses, damages (whether compensatory,
punitive, or treble), fines, penalties and sanctions, absolute or contingent, matured or unmatured, liquidated or unliquidated, foreseen or unforeseen, joint, several or individual, asserted or unasserted, accrued or unaccrued, known or unknown,
whenever arising, including those arising under or in connection with any Law, Action, threatened Action, order or consent decree of any Governmental Authority or any award of any arbitration tribunal, and those arising under any contract,
guarantee, commitment or undertaking, whether sought to be imposed by a Governmental Authority, private party, or a Party, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute, or otherwise, and
including any costs, expenses, interest, attorneys’ fees, disbursements and expense of counsel, expert and consulting fees, fees of third-party administrators and costs related thereto or to the investigation or defense thereof. 

“Loss” means any claim, demand, complaint, damages (whether compensatory, punitive, consequential, treble or other),
fines, penalties, loss, liability, payment, cost or expense arising out of, relating to or in connection with any Action. 

“LSPP” means the ING Group Long-Term Sustainable Performance Plan. 

“NYSE” means the New York Stock Exchange, Inc. 
 “Party” and “Parties” shall have the meanings ascribed thereto in the preamble to this Agreement. 

“Subsidiary” has the same meaning as provided in the Shareholder Agreement. 

“Supervisory Board” means the Supervisory Board of Group. 

“Trade Sale” means a sale by Group of more than 50% of ING U.S.’s common stock, to a single buyer that is not
affiliated with Group, or to a group of buyers acting together each of which is not affiliated with Group, by way of acquisition, merger, consolidation, share exchange or a similar transaction. A merger, consolidation, share exchange or similar
transaction in which Group owns 50% or more of the equity capital of the surviving entity shall not be deemed to be a Trade Sale. 
 Section 1.2 General Interpretive Principles. Words in the singular shall include the plural and vice versa, and words of one gender shall include the other gender, in each case,
as the context requires. The words “hereof,” “herein,” “hereunder,” and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement and not to any particular
provision of this Agreement, and references to Article, Section, paragraph and Exhibit are references to the Articles, Sections, paragraphs and Exhibits to this Agreement unless otherwise specified. The word “including” and words of
similar import when used in this Agreement shall mean “including, without limitation,” unless otherwise specified. Any reference to any federal, state, local or non-U.S. statute or Law shall be deemed to also refer to all rules and
regulations promulgated thereunder, unless the context otherwise requires. 

  
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 ARTICLE II 
 GENERAL PRINCIPLES 
 Section 2.1 Reimbursement of
Group. From time to time after the ING U.S. IPO, ING U.S. shall promptly reimburse Group, upon Group’s presentation of such substantiating documentation as ING U.S. shall reasonably request, for the cost of any Liabilities satisfied by
Group that are, or that have been made pursuant to this Agreement, the responsibility of ING U.S. or any of its Subsidiaries. Where applicable, such payment shall be calculated in a manner consistent with past practice. 

Section 2.2 Reimbursement of ING U.S.. From time to time after the ING U.S. IPO, Group shall promptly reimburse
ING U.S., upon ING U.S.’s presentation of such substantiating documentation as Group shall reasonably request, for the cost of any Liabilities satisfied by ING U.S. or its Subsidiaries that are, or that have been made pursuant to this
Agreement, the responsibility of Group or any of its Subsidiaries. Where applicable, such payment shall be calculated in a manner consistent with past practice. 
 ARTICLE III 
 EQUITY COMPENSATION 

Section 3.1 Equity Compensation. The Parties, including through instructions with their respective
administrators and recordkeepers, shall use commercially reasonable efforts and shall cooperate in good faith and act promptly to provide all Information and take all other actions reasonably necessary or appropriate for the administration and
conversion of Group Equity Compensation Awards, including the obtainment by Group of any necessary consents from the Supervisory Board, and to coordinate the tax treatment of such Group Equity Compensation Awards as set forth in this
Article III. 
 Section 3.2 Group Equity Compensation Awards. 

(a) Continuation of Arrangements. The Parties agree that, except to the extent explicitly set forth herein or otherwise mutually
agreed in writing, the administrative and financial practices that the Parties have historically followed with respect to equity compensation awards issued under Group Share Plans and held by employees, former employees or retirees of ING U.S.
(including, without limitation, the sharing of information necessary to enable the Parties to administer such awards and the cash flows and other financial arrangements in connection with the vesting or exercise of awards, and the payment of cash or
delivery or sale of shares, as applicable, by or between the Parties, or to employees of ING U.S., and related tax withholding and reimbursements, including with respect to ING U.S. Employees who received equity compensation awards issued under
Group Share Plans while such ING U.S. Employees were expatriate employees, the continuation of the ING Group Net Pay Policy), shall, with respect to Group Equity Compensation Awards, continue to be followed until such awards have vested and been
delivered or paid out or have been terminated in accordance with their terms. 

  
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 (b) Treatment of Outstanding Group Equity Compensation Awards. 

(i) New LSPP Awards. Group Equity Compensation Awards granted during or after March 2013 under the LSPP will, on
the ING U.S. IPO Date, automatically convert, in accordance with their terms, into a comparable award over ING U.S. Common Stock to be granted under the 2013 Omnibus Employee Incentive Plan. 

(ii) Legacy ING U.S. Awards. Except as set forth in clause (iii) or clause (iv) below, Group Equity
Compensation Awards granted before March 2013 under the LSPP, LEO or GSOP (“Legacy ING U.S. Awards”) will remain outstanding after the ING U.S. IPO Date in accordance with their terms, and Group will give each ING U.S. Employee full
credit for service to ING U.S. or any of its Subsidiaries following the ING U.S. IPO Date for purposes of vesting under the Legacy ING U.S. Awards, in accordance with Section 3.2(c) of this Agreement, notwithstanding any reduction of
Group’s ownership of ING U.S. common stock below 70%, 50.1% or any other applicable threshold, and such awards will otherwise remain subject in all instances to their original terms. 

(iii) Legacy LSPP Awards. If, on or after the ING U.S. IPO Date, Group ceases to own (directly or indirectly) at
least 50.1% of the voting stock of ING U.S., other than as a result of a Trade Sale, Group, in its discretion, may convert any outstanding Group Equity Compensation Awards granted before March 2013 under the LSPP into comparable awards over ING U.S.
Common Stock if Group, in its discretion, determines that the ING U.S. Common Stock price reflects anticipated improvement in ING U.S.’s operating return on equity, and if Group and ING U.S. mutually agree on the price or conversion ratio and
other terms applicable to the conversion.. 
 (iv) Trade Sale. In the event of a Trade Sale, the treatment
of all Group Equity Compensation Awards that are outstanding at the time of the closing of such Trade sale shall be determined in accordance with the plan documents governing the LSPP, LEO or GSOP, as applicable, and the terms and conditions of
applicable award agreements. 
 (c) Service Credit. Group agrees to give each ING U.S. Employee full credit for service
to ING U.S. or any of its Subsidiaries following the ING U.S. IPO, for the period during which such ING U.S. Employee remains employed by ING U.S. or any of its Subsidiaries, for purposes of vesting under any Group Equity Compensation Awards that
are outstanding as of the ING U.S. IPO Date. In addition, Group agrees that in the event the ING U.S. IPO or any secondary offering or sale of ING U.S. Common Stock (other than a Trade Sale) shall be deemed to constitute a termination of an ING U.S.
Employee’s employment under the terms of any Group Equity Compensation Award, such ING U.S. IPO or secondary offering shall not constitute such a termination of employment to the extent and for the period during which such ING U.S. Employee
remains employed by ING U.S. or any of its Subsidiaries. 

  
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 (d) Administration and Other Matters. The Parties agree that Group will continue to
administer the Group Equity Compensation Awards in accordance with past practice and this Agreement, the existing arrangements with respect to reimbursement of Group expenses associated with Group Equity Compensation Awards held by any ING U.S.
Employee and Former ING U.S. Employee will be maintained (except as otherwise specifically provided in this Agreement) and ING U.S. shall cooperate with Group in good faith and act promptly to provide all Information (including, but not limited to
Information to update the employment status of any ING U.S. Employee) and take all other actions reasonably necessary or appropriate to assist Group in carrying out its administrative tasks with respect to Group Equity Compensation Awards. The
Parties agree that ING U.S. shall be responsible for reimbursing Group for the incremental cost to Group of any mutually agreed conversion of Group Equity Compensation Awards pursuant to this Section 3.2. 

Section 3.3 Taxes and Withholding. With respect to equity compensation awards under the Group Share Plans held by
individuals who are Group Employees or Former Group Employees at the time such equity compensation awards become taxable, Group shall claim any federal, state and/or local tax deductions after the ING U.S. IPO Date, and ING U.S. shall not claim such
deductions. With respect to the Group Equity Compensation Awards held by any individuals who are ING U.S. Employees or Former ING U.S. Employees at the time such Group Equity Compensation Awards become taxable, ING U.S. shall claim any federal,
state and/or local tax deductions after the ING U.S. IPO Date and Group shall not claim such deductions. If either Group or ING U.S. determines in its reasonable judgment that there is a substantial likelihood that a tax deduction that was assigned
to Group or ING U.S. pursuant to this Section 3.3 will instead be available only to the other party (whether as a result of a determination by the IRS, a change in the Code or the regulations or guidance thereunder, or otherwise), it
will notify the other party and both parties will negotiate in good faith to resolve the issue in accordance with the following principle. The party entitled to the deduction shall pay to the other party an amount that places the other party in a
financial position equivalent to the financial position the party would have been in had the party received the deduction as intended under this Section 3.3. Such amount shall be paid within 90 days of filing the last tax return
necessary to make the determination described in the preceding sentence. 
 Section 3.4 ING U.S. Equity Compensation
Awards. The Parties agree that ING U.S. will administer the ING U.S. Equity Compensation Awards, and Group shall cooperate with ING U.S. in good faith and act promptly to provide all Information requested by ING U.S. to assist ING U.S. in
carrying out its administrative tasks with respect to ING U.S. Equity Compensation Awards. ING U.S. shall claim any federal, state and/or local tax deductions with respect to any ING U.S. Equity Compensation Awards, and Group shall not claim such
deductions. 
 Section 3.5 Cooperation. In addition to any cooperation principles governed by Article
IV, if, after the ING U.S. IPO Date, Group or ING U.S. identify an administrative error in the individuals identified as holding Group Equity Compensation Awards, the amount of Group Equity Compensation Awards so held, the vesting level of such
Group Equity Compensation 

  
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Awards, or any other similar error, Group and ING U.S. shall mutually cooperate in taking such actions as are necessary or appropriate to place, as nearly as reasonably practicable, the
individual and Group and ING U.S. in the position in which they would have been had the error not occurred. Each of the Parties shall establish an appropriate administration system in order to handle, in an orderly manner, exercises of Group Options
and the settlement of any deferred or restricted stock/unit and performance shares or unit awards over Group Common Stock. Each of the Parties will work together to unify and consolidate all indicative data and payroll and employment Information on
regular timetables and make certain that each applicable entity’s data and records with respect to Group Equity Compensation Awards and ING U.S. Equity Compensation Awards are correct and updated on a timely basis. The foregoing shall include
employment status and Information required for tax withholding/remittance, compliance with trading windows and compliance with the requirements of the Securities Exchange Act of 1934 and other applicable Laws. 

Section 3.6 SEC Registration. The Parties mutually agree to use commercially reasonable efforts to maintain effective
registration statements with the Securities and Exchange Commission with respect to the Group Equity Compensation Awards and the ING U.S. Equity Compensation Awards to the extent any such registration statement is required by applicable Law.

 Section 3.7 Savings Clause. The Parties hereby acknowledge that the provisions of this
Article III are intended to achieve certain tax, legal and accounting objectives and, in the event such objectives are not achieved, the Parties agree to negotiate in good faith regarding such other actions that may be necessary or
appropriate to achieve such objectives. 
 ARTICLE IV 

GENERAL AND ADMINISTRATIVE 
 Section 4.1 Sharing of Information. Group and ING U.S. (acting directly or through their respective Subsidiaries) shall promptly provide to the other and their respective agents and
vendors all Information as the other may reasonably request to enable the requesting Party to administer efficiently and accurately each of the Group Share Plans and the ING U.S. Share Plans, timely respond to audit requests and to determine the
scope of, as well as fulfill, its obligations under this Agreement; provided, however, that in the event that any Party reasonably determines that any such provision of Information could be commercially detrimental to such Party or any
member of its Group, violate any Law or agreement to which such Party or member of its Group is a party, or waive any attorney-client privilege applicable to such Party or member of its Group, the Parties shall provide any such Information and the
Parties shall take all reasonable measures to comply with the obligations pursuant to this Section 4.1 in a manner that mitigates any such harm or consequence to the extent practicable, and the Parties agree to cooperate with each other
and take such commercially reasonable steps as may be practicable to preserve the attorney-client privilege with respect to the disclosure of any such Information. Such Information shall, to the extent reasonably practicable, be provided in the
format and at the times and places requested, but in no event shall the Party providing such Information be 

  
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obligated to incur any out-of-pocket expenses not reimbursed by the Party making such request or make such Information available outside of its normal business hours and premises. Any Information
shared or exchanged pursuant to this Agreement shall be subject to the same confidential information and information handling provisions set forth in Sections 4.8 and 9.3 of the Shareholder Agreement. 

Section 4.2 Reasonable Efforts/Cooperation. Each of the Parties hereto will use its commercially reasonable efforts to
take promptly, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable Laws to consummate the transactions contemplated by this Agreement, including adopting plans or plan
amendments. Each of the Parties hereto shall be entitled to rely in good faith on Information provided by the other Party and the receiving Party shall not be responsible for any delays or liability arising from missing, delayed, incomplete,
inaccurate or outdated Information and data which is provided by the other Party pursuant to this Agreement. 

Section 4.3 No Third-Party Beneficiaries; No Right to Continued Employment. No provision of this Agreement shall be
construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any ING U.S. Employee or Group Employee under any Group Share Plan or otherwise. This Agreement is solely for the benefit of the
Parties hereto and their respective successors and permitted assigns. Nothing in this Agreement, express or implied, is intended to or shall confer upon any other person or persons (including any ING U.S. Employee, Former ING U.S. Employee, Group
Employee or Former Group Employee, or any of their respective beneficiaries, dependents, alternate payees or surviving spouses) any rights, benefits or remedies of any nature whatsoever under or by reason of this Agreement. No provision in this
Agreement shall modify or amend any other agreement, plan, program, or document unless this Agreement explicitly states that the provision “amends” that other agreement, plan, program, or document. This shall not prevent the Parties
entitled to enforce this Agreement from enforcing any provision in this Agreement, but no other person shall be entitled to enforce any provision in this Agreement on the grounds that it is an amendment to another agreement, plan, program, or
document unless the provision is explicitly designated as such in this Agreement, and the person is otherwise entitled to enforce the other agreement, plan, program, or document. If a person not entitled to enforce this Agreement brings a lawsuit or
other action to enforce any provision in this Agreement as an amendment to another agreement, plan, program, or document, and that provision is construed to be such an amendment despite not being explicitly designated as one in this Agreement, that
provision in this Agreement shall be void ab initio, thereby precluding it from having any amendatory effect. Furthermore, nothing in this Agreement is intended to confer upon any Group Employee, Former Group Employee, ING U.S. Employee or
Former ING U.S. Employee, any right to continued employment, or any recall or similar rights to an individual on layoff or any type of approved leave. 
 Section 4.4 Consent of Third Parties. If any provision of this Agreement is dependent on the consent of any third party and such consent is withheld, the Parties hereto shall use their
reasonable best efforts to implement the applicable provisions of this Agreement to the 

  
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fullest extent practicable. If any provision of this Agreement cannot be implemented due to the failure of such third party to consent, the Parties hereto shall negotiate in good faith to
implement the provision in a mutually satisfactory manner. 
 Section 4.5 Access to Employees. Following the
ING U.S. IPO Date, Group and ING U.S. shall, or shall cause each of their respective Subsidiaries to, make available to each other those of their employees who may reasonably be needed in order to defend or prosecute any legal or administrative
action (other than a legal action between any member of the ING Group and any member of the ING U.S. Group) to which any employee, director or Plan of the ING Group or ING U.S. Group is a party and which relates to their respective plans prior to
the ING U.S. IPO Date. 
 ARTICLE V 
 MISCELLANEOUS 
 Section 5.1 Complete Agreement;
Construction. This Agreement shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter.

 Section 5.2 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall
be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to the other Party. 

Section 5.3 Notices. All notices and other communications hereunder shall be in writing, shall reference this
Agreement and shall be hand delivered or mailed by registered or certified mail (return receipt requested) to the Parties at the following addresses (or at such other addresses for a Party as shall be specified by like notice) and will be deemed
given on the date on which such notice is received: 
 To Group: 

ING Group 
 IH
08.332 
 Amstelveenseweg 500 
 1081 KL Amsterdam 
 The Netherlands 

Attention: Hein Knaapen, Global Head of HR 
 Facsimile: +31 20 564 77 51 
 To ING U.S.: 

ING U.S., Inc. 

230 Park Avenue 
 13th Floor

 New York, New York 10169 
 Attention: Bridget M. Healy, Chief Legal Officer 
 Facsimile: 212-309-8364

  
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 Section 5.4 Waivers. The failure of any Party to require strict
performance by any other Party of any provision in this Agreement will not waive or diminish that Party’s right to demand strict performance thereafter of that or any other provision hereof. 

Section 5.5 Amendments. This Agreement may not be modified or amended except by an agreement in writing signed by each
of the Parties. 
 Section 5.6 Assignment. This Agreement shall not be assignable, in whole or in part,
directly or indirectly, by any Party without the prior written consent of the other Party, and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void; provided that either Party may
assign this Agreement to a purchaser of all or substantially all of the properties and assets of such Party so long as such purchaser expressly assumes, in a written instrument in form reasonably satisfactory to the non-assigning Party, the due and
punctual performance or observance of every agreement and covenant of this Agreement on the part of the assigning Party to be performed or observed. 
 Section 5.7 Successors and Assigns. The provisions to this Agreement shall be binding upon, inure to the benefit of and be enforceable by the Parties and their respective successors and
permitted assigns. 
 Section 5.8 Subsidiaries. Each of the Parties shall cause to be performed, and hereby
guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any entity that is contemplated to be a Subsidiary of such Party after the ING U.S. IPO Date. 

Section 5.9 Title and Headings. Titles and headings to Sections herein are inserted for convenience of reference
only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 Section 5.10
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK AND WITHOUT REGARD TO ITS CHOICE OF LAWS
PRINCIPLES. 
 Section 5.11 Waiver of Jury Trial. The Parties hereby irrevocably waive any and all right to
trial by jury in any legal proceeding arising out of or related to this Agreement. 
 Section 5.12 Specific
Performance. From and after the ING U.S. IPO, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Parties agree that the Party to this Agreement who is or is
to be thereby 

  
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aggrieved shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights and remedies at law or
in equity, and all such rights and remedies shall be cumulative. The Parties agree that, from and after the ING U.S. IPO, the remedies at law for any breach or threatened breach of this Agreement, including monetary damages, are inadequate
compensation for any Loss, that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any requirements for the securing or posting of any bond with such remedy are hereby waived.

 Section 5.13 Severability. In the event any one or more of the provisions contained in this Agreement
should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in
good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

[signature page follows] 

  
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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of
the date first above written. 
  

					
	ING Groep, N.V.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	ING U.S., INC.
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 Signature Page to Equity Administration AgreementEX-10.78

 Exhibit 10.78 

 
 

 
 Rodney O. Martin, Jr. 
 Chief Executive Officer 
 March 28, 2013 

Mr. Ewout Steenbergen 
 [home address]

 Dear Ewout: 
 I am very pleased to
extend an offer of employment with ING U.S., Inc., or with a controlled affiliate of ING U.S. Inc.,* (herein referred to as the “Company”). The purpose of this letter is to set forth the provisions of our localization offer for the
position of Executive Vice President and Chief Financial Officer of ING U.S. In this role, you will report directly to me. As determined by the Company, you will have the authority, responsibilities and reporting relationships that are commensurate
with your position as CFO and with your level of experience. Questions regarding your role should be discussed with me. 
 As determined by the
Company, the Company will attempt to treat you equitably as compared to similarly situated Named Executive Officers (“NEO”) with respect to various terms of employment, such as: 

 

	 	•	 	 Indemnification and directors and officers liability insurance coverage; 

 

	 	•	 	 Your eligibility to participate in a cash bonus plan, to the extent the Incentive Compensation Plan (ICP) is modified or terminated;

  

	 	•	 	 Your eligibility to participate in a long-term incentive program; and 

 

	 	•	 	 Your eligibility to participate in benefit programs, perquisites and business expense reimbursement policies. 

Localization Date: Your localization date will be as of April 1, 2013. 
 Base Salary: Your annual base salary will be $550,000, effective April 1, 2013 and payable semi-monthly in accordance with the Company’s regular payroll practices. You will be
scheduled for an annual performance review, which is expected to be in March of each year. The Company reserves the right to review and adjust compensation to reflect what is appropriate for each position. 

Incentive Compensation Plan: You will be eligible to participate in the Company’s Incentive Compensation Plan (ICP). Your target ICP
incentive, beginning with respect to 2013 performance, is 100% of your year-end base salary. The ICP is designed to allow for individual awards of up to 200% of target depending upon business and individual performance. ICP awards are typically paid
annually in March based on the prior year’s performance. Your ICP award, if any, is subject to a mandatory, partial deferral. Recently, the Company implemented a deferral program where ICP awards above €100,000 are subject to partial
deferral. Deferred 
  

					
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amounts may be converted, at the discretion of ING Group and the Company, into ING Group or Company stock and/or cash and vest over a three or four year period, subject to the terms and
conditions of the deferral plan. It has yet to be determined whether this same plan (or a similar deferral plan) will be utilized for 2013 ICP awards (payable in 2014). ICP awards are not guaranteed. The ICP is a discretionary plan and the Company
reserves the right to modify or discontinue the plan at any time. 
 Deferred Compensation Savings Plan: You will be eligible to
participate in the Company’s Deferred Compensation Savings Plan (DCSP) effective on your date of localization. If you would like to receive a copy of the plan details and enrollment materials, please contact Paula Ward at (770) 933-3639.
You must return your enrollment forms to the Executive Compensation Department within 30 days of your localization date to participate in 2013. Deferral elections will begin as soon as administratively possible once you have received an approval
confirmation. 
 Long-Term Incentive (LTI) Program: You will be eligible to participate in the Company’s long-term incentive
program. Your annual target economic value will be 200% of your annual base salary. Awards are reviewed each year and are not guaranteed. Therefore, your ongoing participation is at the discretion of the Company. 

You currently have pre-2013 ING Group long-term incentive awards outstanding that were granted while you were on international (expat) assignments in
Hong Kong and in the U.S (the “Expat LTI”). As both of these long-term assignments began after March 1, 2007, the taxation treatment of the Expat LTI awards are subject to tax protection, which is dictated by the terms of the ING
Group Net Pay Policy. Tax protection under this policy means that you will pay the lower of either the amount due under tax equalization or the actual marginal home and host tax due on the Expat LTI at the time the taxes are due (vesting or
exercise), with ING U.S. grossing you up (i.e., reimbursing you) for the lesser of any actual additional taxes due with respect to the Expat LTI or $50,000. 
 CRD III: You should be aware that the Capital Requirements Directive III published by the Committee of European Banking Supervisors, as implemented by the Dutch Central Bank (“CRD
III”), has been applied to all U.S.-based control function staff, including the finance staff and certain additional senior identified staff, effective beginning January 1, 2012. To comply with these CRD III regulations, the Company is
required to establish compensation policies and practices that satisfy CRD III and that define acceptable ratios of fixed to variable compensation and includes hold-back, claw-back, retention and deferral provisions. We have taken into account the
impact of CRD III in establishing your compensation package, which satisfies applicable CRD III requirements. 
 ING Americas Severance
Pay Plan (The “Severance Plan”): Upon your localization, you will become eligible for the benefits provided under the terms of the Severance Plan. Section 1.18(b) of the Severance Plan defines a qualified termination that is
eligible for severance to have occurred when an employee’s base salary has been significantly reduced due to a Company-requested job change. For the avoidance of doubt in construing the terms of the Severance Plan as they would be applied in
your circumstances, the Company deems a 10% or greater reduction in your base salary to constitute a significant reduction in your base salary, and further deems that a Company-requested job change would have occurred in the event your base salary
were to be reduced by 10% or more. 

  
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 Market Value Allowance (MVA): As part of your transition from expatriate employee status
to regular employee, you will receive a market value allowance of $400,000, less applicable taxes and withholdings, for each of the calendar years 2013 and 2014. The market value allowance will be paid as follows: (1) lump sum payment of
$400,000, to be paid as soon as administratively possible after the signing of this offer letter; and (2) lump sum payment of $400,000, to be paid on April 15, 2014. To avoid any doubt, none of this market value allowance qualifies or
will qualify as Eligible Pay under the ING Americas Severance Pay Plan. If you are terminated without Cause prior to April 15, 2014, you will be paid the second MVA payment of $400,000. “Cause” is defined as: (A) your breach
of any provision of this letter, (B) aiding and abetting a competitor of the Company or any of its subsidiaries or affiliates, (C) misappropriation (or attempted misappropriation) or embezzlement (or attempted embezzlement) of funds or
property of the Company or any of its subsidiaries or affiliates, or fraudulent misrepresentation or disclosure of confidential information or trade secrets of the Company or any of its subsidiaries or affiliates, (D) gross negligence or
willful misconduct in the discharge of your duties and responsibilities to the Company or any of its subsidiaries or affiliates, (E) commission of any criminal act involving your duties and responsibilities for the Company or any of its
subsidiaries or affiliates, (F) continued willful and unjustified failure or refusal to perform your duties associated with your position after having been notified in writing by the Company of such failure or refusal and failing to correct the
failure or refusal in the manner described in the written notification within three business days, (G) failure to abide by the applicable material policies of the Company, including but not limited to, the ING U.S. General Code of Conduct, or
(H) a similar act or failure to act that causes demonstrable and serious injury to the Company or any of its subsidiaries or affiliates, as determined by the Company. 
 If you leave the Company voluntarily before April 15, 2015, you hereby agree to repay to the Company a pro-rated amount of the MVA that has been paid to you (up to $800,000), calculated by
subtracting from the total amount of MVA paid to you, an amount equal to the product of (i) the number of months of your active employment with ING U.S. during the 24- month period running from April 1, 2013 to and including April 1,
2015, rounded up to the nearest whole number, multiplied by (ii) $33,333.33, the amount of MVA attributed to each month during such 24 month period. The amount determined in accordance with the preceding sentence is the amount that you agree
you will repay to ING U.S., Inc., within 15 days after your last day of employment with ING U.S., under the conditions set forth above. 

Special Deal Incentive Award: The one-time special deal incentive award which was previously granted to you with an initial value of
$650,000 will be increased by $150,000, yielding a Deal Incentive Award to you with an aggregate grant value of $800,000. The terms and conditions of this revised Deal Incentive Award will otherwise remain the same as are outlined in your initial
award agreement. 
 401(k): The Company will match 100% of the first 6% of pre-tax eligible compensation you contribute, subject
to the IRS limit. You may enroll in the ING Americas Savings Plan and ESOP (“Savings Plan”) as soon as the plan administrator receives your payroll data (usually 

  
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within 1 week of your localization date). If you do not enroll within the first 60 days of your localization date, the Savings Plan does provide for automatic enrollment of 3% 60 days after your
localization date, including an automatic 1% escalation in contribution rate each March until it reaches 6%. You may change the amount of contributions or stop deferrals to the Savings Plan and change investment elections at any time. You will
receive enrollment instructions with your other benefit information. The Savings Plan also accepts rollovers from any other qualified plan at any time. The Company match of eligible compensation begins upon your enrollment. Since you have been
continuously employed by ING Groep, N.V., its subsidiaries, and/or its affiliates since December 1, 1993, this date will be used for purposes of determining eligibility and vesting in the Savings Plan. Your localization date will be used for
purposes of determining the benefit service date under the Savings Plan. 
 Cash Balance Plan: You will participate in the ING
Cash Balance Retirement Plan (“Cash Balance Plan”) which provides a Company-paid contribution equal to 4% of your eligible compensation (base salary and actual ICP awards). Your participation will be automatic upon your localization date
with the Company. The date of December 1, 1993 will be used for purposes of determining eligibility and vesting in the Cash Balance Plan. Your localization date will be used for purposes of determining the benefit service date under the Cash
Balance Plan. 
 Employment Benefits: The Company offers flexible benefits that you can use to build a benefits package that meets
your needs (e.g., medical, dental, vision, life insurance). Benefits information will be mailed to you at your home address. Upon receipt of your enrollment materials in the selected benefit programs at the benefits service center, your benefits
will become active, retroactive to the localization date. 
 Paid Time-Off (PTO) Bank: You will receive an annual PTO bank of 33
days (264 hours). The PTO Bank can be used for absences for vacation, personal time, family illness and individual sick days. 
 Changes
to Benefit Programs: The benefit programs described on the Company’s onboarding site may be changed by the Company, in whole or in part, at any time, with or without notice to you. Your participation in any benefit programs does not
ensure your continued employment or the right to any benefits, except as specifically provided in any Company benefit plan. 

Confidentiality of Information: In the performance of your duties on behalf of the Company, you will have access to, receive and be
entrusted with confidential information regarding the Company, its affiliates and their clients. All such confidential information is to be held in strictest confidence and, except in the performance of your duties on behalf of the Company, you
shall not directly or indirectly disclose or use any such confidential information. This information shall be and remain the Company’s sole and exclusive property. Subject to the last sentences of this section, upon termination of your
employment, or whenever requested by the Company, you shall promptly deliver to the Company any and all confidential information or other Company property in your possession or under your control. 

Information that is publicly available (other than through your acts or omissions in violation of this agreement or breach of any confidentiality
obligation) and made available to you by third 

  
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parties without being told of any confidentiality restrictions is not confidential. Further, if you receive a request to disclose confidential information pursuant to a deposition, interrogation,
request for information or documents in legal proceedings, subpoena, civil investigative demand, governmental or regulatory process or similar process, (i) you will use best efforts to promptly notify the Company in writing and consult and
assist the Company, at the reasonable expense of the Company, in seeking a protective order or request for other appropriate remedy, (ii) in the event that such protective order or remedy is not obtained, or if the Company waives compliance
with the terms hereof, you shall disclose only that portion of the confidential information which, based on the written advice of your counsel, is legally required to be disclosed and you will use all reasonable efforts to provide that the receiving
person or entity shall agree to treat such confidential information as confidential to the extent possible (and permitted under applicable law) in respect of the applicable proceeding or process, and (iii) you will use all reasonable efforts to
provide the Company with an opportunity to review the confidential information prior to disclosure thereof. You are also permitted to retain information relating to the terms of your employment and compensation following termination from the
Company. 
 Employment at Will: This letter is not intended to create an employment contract, and the terms and conditions of your
employment may be changed at the Company’s discretion. Employment with the Company is on an at-will basis. This means that you are not employed for any set period of time, and you or the Company may terminate your employment at any time, for
any reason. 
 Ewout, we’re delighted to have you transition from your current expatriate assignment to regular employment with ING U.S.
Please indicate your acceptance of this offer by signing below and returning one signed original to me within ten (10) business days. If you have any questions, please contact me directly at (212) 309-5992. 

 

	
	Sincerely,
	
	/s/ Rodney O. Martin, Jr.
	
	Rodney O. Martin, Jr.
	Chief Executive Officer
	ING U.S., Inc.

  

					
	Accepted and Agreed to by:	  		  	
			
	 /s/ Ewout Steenbergen
	  	 March 28, 2013
	  	
	Signature	  	Date	  	

  

	*	Please note that “ING” and “ING U.S.” will not constitute your employer. You will be employed by a U.S. subsidiary of ING U.S., Inc., which shall be
bound by the terms and conditions set forth herein. 

  
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	RETIREMENT	  	INVESTMENTS	  	INSURANCE

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