0001111830-12-000382 Sample Contracts

EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST
Expense Limitation Agreement • June 26th, 2012 • Ultimus Managers Trust

THIS AGREEMENT, dated as of June 5, 2012, is made and entered into by and between the Ultimus Managers Trust, an Ohio business trust (the “Trust”), on behalf of each series of the Trust set forth on Schedule A attached hereto (individually a “Fund” and collectively the “Funds”), and Apex Capital Management, Inc. (the “Adviser”).

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CUSTODY AGREEMENT
Custody Agreement • June 26th, 2012 • Ultimus Managers Trust • Minnesota

THIS AGREEMENT is made and entered into as of this ___ day of ____, 2012, by and between ULTIMUS MANAGERS TRUST, an Ohio business trust (the “Trust”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (the “Custodian”).

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