AMENDED SCHEDULE A TO INVESTMENT ADVISORY AGREEMENT BETWEEN ULTIMUS MANAGERS TRUST AND MARSHFIELD ASSOCIATES, INC.
AMENDED SCHEDULE A
TO
BETWEEN
AND
MARSHFIELD ASSOCIATES, INC.
This Amended Schedule A, dated July 26, 2016, modifies the Investment Advisory Agreement, dated December 27, 2015, between Ultimus Managers Trust, on behalf of the Fund listed below, and Marshfield Associates, Inc.
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Name of Fund
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Fee*
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Marshfield Concentrated Opportunity Fund
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0.95%
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*
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As a percent of average daily net assets. Note, however, that the Adviser shall have the right, but not the obligation, to voluntarily waive any portion of the advisory fee from time to time.
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On behalf of Marshfield Concentrated Opportunity Fund
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MARSHFIELD ASSOCIATES, INC.
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| By: |
/s/ Xxxxx X. Xxxxxx
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By: |
/s/ Xxxxxxxxxxx X. Xxxxxxxxxxx
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| Name: |
Xxxxx X. Xxxxxx
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Name: |
Xxxxxxxxxxx X. Xxxxxxxxxxx
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| Title: |
President
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Title: |
Managing Principal
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