Fee Waiver Agreement
Exhibit 99.(h)(2)
EULAV Asset Management (the “Adviser”) and EULAV Securities LLC (the “Distributor”) each agree to extend the following fee waivers:
Value Line Aggressive Income Trust: The Adviser waives .20% of the advisory fee and the Distributor waives .10% of the Rule 12b-1 fee for the period June 1, 2011– May 31, 2012.
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, 2011– May 31, 2012;
Value Line Tax Exempt Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period July 1, 2011 – June 30, 2012;
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, 2011 – August 30, 2012;
Value Line Larger Companies Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period May 1, 2011-April 30, 2012.
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, 2010-April 30, 2011. The Distributor waives .25% of the Rule 12b-1 fee for the period May 1, 2011-April 30, 2012.
Value Line U.S. Government Money Market Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period May 1, 2011-April 30, 2012.
Value Line Strategic Asset Management Trust: The Distributor waives .15% of the Rule 12b-1 fee for the period May 1, 2011-April 30, 2012.
Value Line Centurion Fund, Inc.: The Distributor waives .15% of the Rule 12-1 fee for the period May 1, 2011-April 30, 2012.
Value Line U.S. Government Securities Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period January 1, 2012 – December 31, 2012.
Value Line Income and Growth Fund, Inc: The Distributor waives .05% of the Rule 12b-1 fee for the period March 1, 2011 – April 30, 2012;
Value Line Asset Allocation Fund, Inc.: The Distributor waives .10% of the Rule 12b-1 fee for the period August 1, 2011 – July 31, 2012;
Dated this 10th day of February, 2011
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
