Fee Waiver Agreement
Exhibit (h)(3)
EULAV Securities LLC (the “Distributor”) agrees to the following fee waivers:
Value Line Tax Exempt Fund, Inc.: The Distributor
waives 0.25% of the Rule 12b-1 fee for the period July 1, 2016 – June 30, 2018;
Value Line Larger Companies Fund, Inc.: The Distributor waives 0.10% of the Rule 12b-1 fee for the period May 1, 2016-June 30, 2018.
Value Line Strategic Asset Management Trust: The Distributor waives 0.13% of the Rule 12b-1 fee for the period May 1, 2016-June 30, 2018.
Value Line Centurion Fund, Inc.: The Distributor waives 0.13% of the Rule 12-1 fee for the period May 1, 2016-June 30, 2018.
Dated this 13th day of February, 2017
On behalf of the Distributor and the Adviser,
/s/ Xxxxxxxx Xxxxx
_____________________________
Xxxxxxxx Xxxxx, President
EULAV Asset Management
EULAV Securities LLC.
Received:
/s/ Xxxxx Xxxxxxxxxx
_____________________________
Xxxxx Xxxxxxxxxx, Treasurer
Value Line Mutual Funds
