0000932471-14-005873 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • June 16th, 2014 • Vanguard Explorer Fund • Delaware

THIS 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”).

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