0000932471-17-004166 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • May 19th, 2017 • Vanguard Explorer Fund • Delaware

THIS AGREEMENT is made as of this 16th day of June, 2014, between Vanguard Explorer Fund, a Delaware statutory trust (the “Trust”), and Arrowpoint Asset Management, LLC (the “Advisor”), a Delaware limited liability company.

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