Fee Waiver Agreement
Exhibit
99.(h)(3)
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EULAV
Asset Management, LLC. (the “Adviser”) and Value Line Securities, Inc.
(the “Distributor”) each agree to extend the following fee
waivers:
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Value
Line Aggressive Income Trust:
The Adviser waives .30% of the advisory fee and the Distributor
waives 10% of the Rule 12b-1 fee, for the period June 1, 2009 – May 31,
2010;
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Value
Line New York Tax Exempt Trust:
The Adviser waives .225% of the advisory fee and the Distributor
waives .25% of the Rule 12b-1 fee, for the period June 1, 2009 – May 31,
2010;
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Value
Line Tax Exempt Fund, Inc.:
The Distributor waives .25% of the Rule 12b-1 fee for the period
July 1, 2009 – June 30,
2010;
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Value
Line Convertible Fund, Inc.:
The Adviser waives .125% of the advisory fee and the Distributor
waives .15% of the Rule 12b-1 fee, for the period September 1, 2009 –
August 30,
2010;
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Value
Line Larger Companies Fund, Inc.: The
Distributor waives .25% of the Rule 12b-1 fee for the period May 1,
2009-April 30,
2010.
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Value
Line Fund, Inc.:
On the first $100 million of the Fund’s average daily net assets, the
Adviser waives .10% of the advisory fee; on any additional assets, the
Adviser waives .15% of the advisory fee, in each instance for the period
May 1, 2009-April 30, 2010. The Distributor waives .25% of the Rule 12b-1
fee for the period May 1, 2009-April 30,
2010.
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Value
Line Cash Fund, Inc.:
The Distributor waives .25% of the Rule 12b-1 fee for the period May 1,
2009-April 30,
2010.
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Value
Line Strategic Asset Management Trust: The Distributor waives .15%
of the Rule 12b-1 fee for the period May 1, 2009-April 30,
2010.
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Value
Line Centurion Fund, Inc.: The Distributor waives .15% of the Rule
12-1 fee for the period May 1, 2009-April 30,
2010.
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Value
Line U.S. Government Securities Fund, Inc.:
The Distributor waives .25% of the Rule 12b-1 fee for the period January
1, 2010 – December 31,
2010.
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Dated
this 12th day of March, 2009
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On
behalf of the Distributor and the Adviser,
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Xxxxxxxx
Xxxxx, President
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EULAV
Asset Management, LLC.
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Value
Line Securities, Inc.
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Received:
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Xxxxx
Xxxxxxxxxx, Treasurer
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Value
Line Mutual Funds
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