0001035449-11-000330 Sample Contracts

VALUED ADVISERS TRUST EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • May 31st, 2011 • Valued Advisers Trust

THIS AGREEMENT is made and entered into effective as of June 1, 2011 by and between Valued Advisers Trust, a Delaware statutory trust (the “Trust”), on behalf of one or more of its series portfolios as set forth on Schedule A, (each a “Fund”), and Golub Group, LLC (the “Adviser”), a California limited liability company.

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