Fee Waiver Agreement
Exhibit (h)(4)
EULAV Securities LLC (the “Distributor”) agrees to the following fee waivers:
Value Line Tax Exempt Fund, Inc.: The Distributor waives 0.25% of the Rule 12b-1 fee for the period July 1, 2021-June 30, 2022;
Value Line Strategic Asset Management Trust: The Distributor waives 0.13% of the Rule 12b-1 fee for the period May 1, 2021-June 30, 2022.
Value Line Centurion Fund, Inc.: The Distributor waives 0.13% of the Rule 12-1 fee for the period May 1, 2021-June 30, 2022.
Dated this 8th day of March, 2021
| On behalf of the Distributor, | |
| /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ | |
| ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, President | |
| EULAV Securities LLC. | |
| Received | |
| /s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ | |
| ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, Treasurer Value Line Mutual Funds | |