12b-1 Fee Waiver Agreement
Value Line Securities, Inc. (the "Distributor") agrees to the following
Rule 12b-1 fee waivers:
a. Larger Companies Fund: waive .25% of the Rule 12b-1 fee for the
period of May 1, 2007 - April 30, 2008;
b. Value Line Fund: waive .25% of the Rule 12b-1 fee for the period of
May 1, 2007 - April 30, 2008;
c. Cash Fund: waive .25% of the Rule 12b-1 fee for the period of May 1,
2007 - April 30, 2008;
Each waiver shall end on the expiration date set forth next to the applicable
Fund name as stated above
Dated this 18th day of April, 2007
On behalf of the Distributor, On behalf of the Advisor,
/s/ Xxxx X. Xxxxxxx /s/ Xxxxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx, CEO Xxxxxx X. Xxxxxxx, Vice President
