To: Board of Trustees Unified Series Trust Cincinnati, OH 45246 Dear Sirs and Madam:
Financial Counselors, Inc.
000 Xxxx 00xx Xxxxxx
Xxxxxx Xxxx, Xxxxxxxx 00000
Letter Agreement
September 16, 2016
| To: | Board of Trustees |
| Unified Series Trust |
| 000 Xxxxxxxx Xxxxx, Xxxxx 000 |
| Xxxxxxxxxx, XX 00000 |
| Dear Sirs and Madam: |
You have engaged us to act as the sole investment advisor to the FCI Bond Fund (the “Fund”), a series of the Unified Series Trust, an Ohio business trust, pursuant to a Management Agreement approved by the Board of Trustees.
Effective February 1, 2017, we hereby agree to waive our management fee and/or reimburse expenses so that the Fund’s total annual operating expenses, excluding: brokerage fees and commissions; borrowing costs (such as (i) interest and (ii) dividend expenses on securities sold short); taxes; any 12b-l fees; any indirect expenses such as acquired fund fees and expenses; and extraordinary litigation expenses do not exceed 0.80% of the Fund’s average daily net assets through January 31, 2018. This Agreement shall continue in place until the earlier to occur of January 31, 2018, or such date as the Fund is terminated or liquidated in accordance with the provisions of the Trust’s Declaration of Trust or Bylaws. We understand that we may not terminate this Agreement prior to such date, except that we may voluntarily agree to lower the expense cap below 0.80%.
Any waiver or reimbursement by us is subject to repayment by the Fund in the three fiscal years following the fiscal year in which the particular waiver or reimbursement occurred; provided that the Fund is able to make the repayment without exceeding the 0.80% expense limitation.
| Very truly yours, | ||
| Financial Counselors, Inc. | ||
| By: | ||
| Xxx X. Xxxxxx, IACCP® | ||
| Chief Compliance Officer and Senior Vice President | ||
| Acceptance | ||
| The foregoing Agreement is hereby accepted. | ||
| Unified Series Trust | ||
| By: | ||
| Xxxxx X. Xxxxxx, President | ||
