Fee Waiver Agreement
Exhibit 99.(h)(3)
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, 2012– May 31, 2013.
Value Line Tax Exempt Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period July 1, 2012 – June 30, 2013;
Value Line Larger Companies Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period May 1, 2012-April 30, 2013.
Value Line Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period May 1, 2012-April 30, 2013.
Value Line Strategic Asset Management Trust: The Distributor waives .15% of the Rule 12b-1 fee for the period May 1, 2012-April 30, 2013.
Value Line Centurion Fund, Inc.: The Distributor waives .15% of the Rule 12-1 fee for the period May 1, 2012-April 30, 2013.
Value Line U.S. Government Securities Fund, Inc.: The Distributor waives .25% of the Rule 12b-1 fee for the period January 1, 2013 – December 31, 2014.
Value Line Income and Growth Fund, Inc: The Distributor waives .05% of the Rule 12b-1 fee for the period March 1, 2012 – April 30, 2013;
Value Line Asset Allocation Fund, Inc.: The Distributor waives .10% of the Rule 12b-1 fee for the period August 1, 2012 – July 31, 2013;
Dated this 6th day of February, 2012
| On behalf of the Distributor and the Adviser, | |
| /s/ Xxxxxxxx Xxxxx | |
| Xxxxxxxx Xxxxx, President | |
| EULAV Asset Management | |
| EULAV Securities LLC. |
Received:
Xxxxx Xxxxxxxxxx, Treasurer
Value Line Mutual Funds
