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
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On behalf of the Distributor and the Adviser, |
Received:
/s/Xxxxxxx Xxxxxxxxx
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Xxxxxxx X. Xxxxxxxxx, Treasurer
Value Line Mutual Funds
