0001111830-13-000381 Sample Contracts

EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST
Expense Limitation Agreement • June 6th, 2013 • Ultimus Managers Trust

THIS AGREEMENT, dated as of April 23, 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 Barrow Street Advisors LLC (the “Adviser”).

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INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • June 6th, 2013 • Ultimus Managers Trust • Ohio

This Investment Advisory Agreement (the “Agreement”) is made and entered into effective as of April 23, 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”), and Barrow Street Advisors LLC, a Delaware limited liability corporation (the “Adviser”).

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