Fee Waiver Agreement
Value Line Securities, Inc. (the “Distributor”) and Value Line, Inc. (the “Adviser”) agrees to the following fee waivers:
Value
Line Aggressive Income Trust: waive .40% of the advisory fee and .10%
of the Rule 12b-1 fee for the period of June 1, 2008 – May 31, 2009;
Value
Line New York Tax Exempt Trust: waive .225% of the advisory fee and
.25% of the Rule 12b-1 fee for the period of June 1, 2008 – May 31, 2009;
Value
Line Tax Exempt Fund, Inc.: waive .25% of the Rule 12b-1 fee for the
period of July 1, 2008 – June 30, 2009;
Value
Line Convertible Fund, Inc.: waive .125% of the advisory fee and .15%
of the Rule 12b-1 fee for the period of September 1, 2008 – August 30, 2009;
Value
Line U.S. Government Securities Fund, Inc.: waive .25% of the Rule 12b-1
fee for the period of January 1, 2009 – December 31, 2010.
Each waiver shall end on the expiration date set forth next to the applicable Fund name as stated above.
| Dated this 15th day of February, 2008 | |
| On behalf of the Distributor and the Adviser, | |
| /s/Xxxx X. Xxxxxxx Xxxx X. Xxxxxxx, CEO |
|
| Received: /s/Xxxxxxx Xxxxxxxxx Xxxxxxx X. Xxxxxxxxx, Treasurer Value Line Mutual Funds |
