INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • June 16th, 2014 • Vanguard Explorer Fund • Delaware
Contract Type FiledJune 16th, 2014 Company JurisdictionTHIS AGREEMENT is made as of this 5th day of March, 2014, between Vanguard Explorer Fund, a Delaware statutory trust (the “Trust”), and Chartwell Investment Partners, Inc., a Pennsylvania corporation (the “Advisor”).