Common use of Effectiveness, Duration and Termination of Agreement Clause in Contracts

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 28, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated December 15, 1993, by and between the Fund and the Adviser with respect relating to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July October 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force 2001 and effect)as amended and supplemented to date, by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2014, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222017, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ ' written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s 's Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 28, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1June 30, 2001 2003 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 28, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of December 1, 1996, by and between the Fund and the Adviser with respect to the Series; , the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of October 1, 2001 and as amended and supplemented to date, by and between the Fund and the Adviser with respect to the Series; , and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2016, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any timetime as to a Series, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 30, 2001 2004 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of October May 1, 2001 and as amended and supplemented from time to time 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14November 1, 2001 1996 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14September 23, 2001 2010 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of October July 1, 2001 and as amended and supplemented from time to time 2015 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1September 23, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2010, by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2015, by and between the Fund and the Adviser with respect to the Series; the Second Amended and Restated Investment Advisory Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of January 1, 2016, by and between the Fund and the Adviser with respect to the Series; and the Third Amended and Restated Investment Advisory Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2016, by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2017, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 16, 2001 2010 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of October January 1, 2001 and as amended and supplemented from time to time 2014 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 15, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14February 23, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2009, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222014, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of June 30, 1996, by and between the Fund and the Adviser with respect to the Series; Adviser, the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of October 1, 2001 and as amended and supplemented to date, by and between the Fund and the Adviser with respect to the Series; Adviser, and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2016, by and between the Fund and the Adviser with respect to the SeriesAdviser. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trusteesdirectors, including a majority of such Trustees directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series Fund and the vote of the Fund’s Trusteesdirectors, including a majority of such Trustees directors who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, Fund or by the vote of a majority of the Fund’s Trustees directors or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Fund may, so long as this Agreement remains in effect, use “Royce” as part of its name. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1September 23, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2010, by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2015, by and between the Fund and the Adviser with respect to the Series; and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of January 1, 2016, by and between the Fund and the Adviser with respect to the Series; and the Third Amended and Restated Investment Advisory Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2016, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 15, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of June 26, 2013, by and between the Fund and the Adviser with respect to Adviser, the Series; the Amended and Restated Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2016, by and between the Fund and the Adviser with respect to the Series; Adviser, and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July January 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2019, by and between the Fund and the Adviser with respect to the SeriesAdviser. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trusteesdirectors, including a majority of such Trustees directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series Fund and the vote of the Fund’s Trusteesdirectors, including a majority of such Trustees directors who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the SeriesFund, or by the vote of a majority of the Fund’s Trustees directors or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Fund may, so long as this Agreement remains in effect, use “Royce” as part of its name. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the AdviserAdviser or, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 27, 2008, by and between the Fund and the Adviser with respect to the Series; , the Amended and Restated Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2015, by and between the Fund and the Adviser with respect to the Series; , and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July January 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2016, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222017, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “"interested persons” " (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “"interested persons” " (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ ' written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s 's Trustees or by the Adviser, and will automatically terminate in the event of its “"assignment” " (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “"Royce” " in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14November 1, 2001 1996 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 28, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of May 1, 2015 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 202220__, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 30, 2001 1998 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 22, 1995 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series, the Investment Advisory Agreement, dated as of October 1, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July May 1, 2017 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222017, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ ' written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s 's Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 22, 2001 1995 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of May 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 31, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 2003 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 28, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of May 1, 2015 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222020, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ ' written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s 's Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14September 23, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time 2010 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 2015 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 15, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 2014 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 28, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of May 1, 2015 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date first written above written and shall replace and supersede in all respects (the Investment Advisory Agreement, dated as of June 14, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect“Effective Date”), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022for one year after such date, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by by: (a) the vote of the Fund’s TrusteesBoard, including or by the vote of a “majority of the outstanding voting securities” of the Fund (as such term is defined in Section 2(a)(42) of the Investment Company Act); and (b) the vote of a majority of such Trustees the Fund’s directors who are not parties to this Agreement or and are not “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940Act) of any such partyparty to this Agreement, cast in person at a meeting called for accordance with the purpose of voting on such approval, or (b) the vote of a majority requirements of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such partyInvestment Company Act. This Agreement may be terminated at any time, time without the payment of any penalty, on upon 60 days’ written notice notice, by: (a) the Adviser, at any time, in the event (i) a majority of the current members of the Independent Board ceases to serve as directors of the Fund; or (ii) the Fund undergoes a change in “control” (as such term is defined by Section 2(a)(9) of the Investment Company Act) not caused by the Adviser; or (b) the Adviser, at any time, following October 31, 2010; or (c) the vote of the stockholders holding a “majority of the outstanding voting securities securities” of the Series, Fund (as such term is defined by Section 2(a)(42) of the Investment Company Act); or by (d) the vote of a majority action of the Fund’s Trustees or by the Adviser, and directors. This Agreement will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act Act). Under no circumstances shall this agreement be assigned or transferred without the consent of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and Fund’s Board. Following the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund shall not have any obligation or liability to refrain from using the name “Royce” in Adviser or to the principals, officers and/or employees of the Adviser other than the obligation to pay the Adviser any form or combination in its name or in its businessoutstanding amounts owed under Section 3 calculated until and through the date of termination of the Agreement. Notwithstanding anything to the contrary, and the Fund shall, as soon as practicable following its receipt provisions of any such request from Section 10 (Limitation of Liability of the Adviser, so refrain from using such name; Indemnification) shall continue in full force and effect and apply to the Adviser and its representatives as and to the extent applicable. Any notice under this This amendment and restatement of the Original Agreement shall not be given in writing, addressed and delivered or mailed, postage prepaid, to treated as a termination of the other party at its principal officeOriginal Agreement.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14December 31, 2001 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 2003 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of September 23, 2010, by and between the Fund and the Adviser with respect to the Series; , the Amended and Restated Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of July 1, 2015, by and between the Fund and the Adviser with respect to the Series; , and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July January 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect)2016, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222017, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ ' written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s 's Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14, 2001 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated April 28, 1993, by and between the Fund and the Adviser with respect relating to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July October 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force 2001 and effect)as amended and supplemented to date, by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 Agreement (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), dated as of May 1, 2015, by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222017, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s 's Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ ' written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s 's Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This (a) The Effective Date of this Agreement shall become effective as be the date on the last to occur of the following provided such date above written is on or before April 1, 2008: (i) approval of this Agreement by the shareholders of each of the Corporation and shall replace Elk; (ii) approval by the shareholders of the Corporation’s and supersede in Elk’s fundamental investment policies to the extent required; (iii) approval of the material terms of this Agreement by the United States Small Business Administration (“SBA”); provided, however, if the SBA does not approve Paragraphs , and 11.C hereof, but approves all respects the Investment Advisory other material terms of this Agreement, dated as the Agreement shall be deemed to have been approved for purposes of June 14this Paragraph ; and (iv) closing of a private offering of the Corporation’s equity securities for gross proceeds of a minimum of twenty-five million dollars ($25,000,000) (the “Offering”), 2001 provided however, such condition (other than the provisions iv) may be adjusted to a lesser amount of Paragraph 8 equity, securities convertible into equity, debt, and/or any combination thereof, which in such lesser amount as the parties hereto agree in writing. The parties shall remain cooperate in full force good faith to attempt to cause the Effective Date to occur by such date and effectin connection with any submission or application referred to in Paragraph 1(d), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time . (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. b) This Agreement shall remain in effect until June 30, 2022for two years from the date of its execution, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by by (ai) the vote of the Fund’s TrusteesBoard, including or by the vote of stockholders holding a majority of such Trustees the outstanding voting securities of the Corporation; and (ii) the vote of a majority of the Corporation’s Directors who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940Act) of any such partyparty to this Agreement, cast in person at a meeting called for accordance with the purpose of voting on such approval, or (b) the vote of a majority requirements of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such partyInvestment Company Act. This Agreement may be terminated at any time, without the payment of any penalty, on upon 60 days’ written notice notice, by the vote of stockholders holding a majority of the outstanding voting securities of the SeriesCorporation, or by the vote of a majority of the FundCorporation’s Trustees Directors or by the Adviser, and will automatically terminate in the event . Clients shall give Adviser notice of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination discontinuance of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 30, 2001 2004 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of October May 1, 2001 and as amended and supplemented from time to time 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 2022, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 30, 2001 1998 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

Effectiveness, Duration and Termination of Agreement. This Agreement shall become effective as of the date above written and shall replace and supersede in all respects the Investment Advisory Agreement, dated as of June 14April 28, 2001 1993 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Investment Advisory Agreement, dated as of October 1, 2001 and as amended and supplemented from time to time (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; the Amended and Restated Investment Advisory Agreement, dated as of July May 1, 2016 2015 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series; and the Second Amended and Restated Investment Advisory Agreement, dated as of July 1, 2017 2016 (other than the provisions of Paragraph 8 thereof, which shall remain in full force and effect), by and between the Fund and the Adviser with respect to the Series. This Agreement shall remain in effect until June 30, 20222018, and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by (a) the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940) of any such party, cast in person at a meeting called for the purpose of voting on such approval, or (b) the vote of a majority of the outstanding voting securities of the Series and the vote of the Fund’s Trustees, including a majority of such Trustees who are not parties to this Agreement or “interested persons” (as so defined) of any such party. This Agreement may be terminated at any time, without the payment of any penalty, on 60 days’ written notice by the vote of a majority of the outstanding voting securities of the Series, or by the vote of a majority of the Fund’s Trustees or by the Adviser, and will automatically terminate in the event of its “assignment” (as such term is defined for purposes of Section 15(a)(4) of the Investment Company Act of 1940); provided, however, that the provisions of Paragraph 8 of this Agreement shall remain in full force and effect, and the Adviser shall remain entitled to the benefits thereof, notwithstanding any such termination. The Adviser may, upon termination of this Agreement, require the Fund to refrain from using the name “Royce” in any form or combination in its name or in its business, and the Fund shall, as soon as practicable following its receipt of any such request from the Adviser, so refrain from using such name. Any notice under this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.