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, 2017;
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, 2017.
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, 2017.
Value Line Centurion Fund, Inc.: The Distributor waives 0.13% of the Rule 12-1 fee for the period May 1, 2016-June 30, 2017.
Dated this 9th day of February, 2016
| 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 |
