Fee Waiver Agreement
EXHIBIT (13)(c)
EULAV Asset Management (the “Adviser”) and EULAV Securities LLC (the “Distributor”) each agree to extend the following fee waivers:
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 ending May 31, 2013.
Dated this 12th day of March, 2012
| On behalf of the Distributor and the Adviser, | |||
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/s/ Xxxxxxxx Xxxxx | |
| Xxxxxxxx Xxxxx, President | |||
| EULAV Asset Management | |||
| EULAV Securities LLC |
Received:
/s/ Xxxxx Xxxxxxxxxx
Xxxxx Xxxxxxxxxx, Treasurer
Value Line Mutual Funds
