0001111830-15-000372 Sample Contracts

FIRST AMENDED EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST

Expense Limitation Agreement • June 5th, 2015 • Ultimus Managers Trust

• Contract Type
  Expense Limitation Agreement
• Filed
  June 5th, 2015
• Company
  Ultimus Managers Trust

THIS FIRST AMENDED AGREEMENT, dated as of April 21, 2014, 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 Cincinnati Asset Management, Inc. (the “Adviser”).

AMENDED SCHEDULE A to First Amended Expense Limitation Agreement For Ultimus Managers Trust

Limitation Agreement • June 5th, 2015 • Ultimus Managers Trust

• Contract Type
  Limitation Agreement
• Filed
  June 5th, 2015
• Company
  Ultimus Managers Trust

* Expressed as a percentage of a Fund’s average daily net assets. This amount is exclusive of brokerage costs, taxes, interest, Acquired Fund fees and expenses, extraordinary expenses such as litigation and merger or reorganization costs and other expenses not incurred in the ordinary course of such Fund’s business, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act.