0000932471-14-004625 Sample Contracts

INVESTMENT ADVISORY AGREEMENT

Investment Advisory Agreement • February 24th, 2014 • Vanguard Explorer Fund • Delaware

• Contract Type
  Investment Advisory Agreement
• Filed
  February 24th, 2014
• Company
  Vanguard Explorer Fund
• Jurisdiction
  Delaware

THIS AGREEMENT is made as of this 1st day of November, 2013, between Vanguard Explorer Fund, a Delaware statutory trust (the “Trust”), and Granahan Investment Management, Inc., a Massachusetts corporation (the “Advisor”).