0001111830-12-000858 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • November 21st, 2012 • Ultimus Managers Trust • Ohio

This Investment Advisory Agreement (the “Agreement”) is made and entered into effective as of _________ ___, 2013, by and between 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 the “Fund” and collectively the “Funds”), a series of shares of the Trust, and Lyrical Asset Management, L.P., a limited partnership (the “Adviser”).

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EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST
Expense Limitation Agreement • November 21st, 2012 • Ultimus Managers Trust

THIS AGREEMENT, dated as of __________ ___, 2013, is made and entered into by and between the Ultimus Managers Trust, an Ohio business trust (the “Trust”), on behalf of the series of the Trust set forth on Schedule A attached hereto (the “Fund”), and Lyrical Asset Management, L.P. (the “Adviser”).

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