Fee Waiver Agreement
Exhibit 99.(h)(3)
EULAV Asset Management (the “Adviser”) and EULAV Securities LLC (the “Distributor”) each agree to the following
fee waivers:
Value Line Core Bond Fund: The Adviser waives 0.20% of the advisory fee and the Distributor waives 0.15% of the Rule 12b-1 fee for the period July 1, 2014– June 30, 2016.
Value Line Tax Exempt Fund, Inc.: The Distributor
waives 0.25% of the Rule 12b-1 fee for the period July 1, 2014 – June 30, 2016;
Value Line Larger Companies Fund, Inc.: The Distributor waives 0.10% of the Rule 12b-1 fee for the period May 1, 2015-June 30, 2016.
Value Line Strategic Asset Management Trust: The Distributor waives 0.15% of the Rule 12b-1 fee for the period May 1, 2015-June 30, 2016.
Value Line Centurion Fund, Inc.: The Distributor waives 0.15% of the Rule 12-1 fee for the period May 1, 2015-June 30, 2016.
Dated this 9th day of February, 2015
| On behalf of the Distributor and the Adviser, | |
| Xxxxxxxx Xxxxx, President | |
| EULAV Asset Management | |
| EULAV Securities LLC. | |
| Received: | |
| Xxxxx Xxxxxxxxxx, Treasurer | |
| Value Line Mutual Funds |
