0001111830-12-000729 Sample Contracts

DISTRIBUTION AGREEMENT
Distribution Agreement • September 28th, 2012 • Cutler Trust • Ohio

This Agreement made as of June 7, 2012 by and among Cutler Trust (the "Trust"), a Delaware business trust, Cutler Investment Counsel, LLC, an Oregon limited liability company, and Ultimus Fund Distributors, LLC, an Ohio limited liability company ("Distributor").

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THE CUTLER TRUST INVESTMENT ADVISORY AGREEMENT Schedule A
Investment Advisory Agreement • September 28th, 2012 • Cutler Trust
THE CUTLER TRUST FIRST AMENDMENT TO THE CUSTODY AGREEMENT
Custody Agreement • September 28th, 2012 • Cutler Trust

THIS FIRST AMENDMENT dated as of September 14, 2012, to the Custody Agreement dated April 18, 2005, (the “Custody Agreement”), is entered into by and between The Cutler Trust, a Delaware business trust (the "Trust") and U.S. Bank, N.A., a national banking association (the "Custodian").

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