0001193125-13-241264 Sample Contracts

VALUED ADVISERS TRUST AMENDED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • May 30th, 2013 • Valued Advisers Trust

THIS AGREEMENT is made and entered into effective as of June 1, 2013 by and between Valued Advisers Trust, a Delaware statutory trust (the “Trust”), on behalf of one or more of its series portfolios as set forth on Schedule A, (each a “Fund”), and Golub Group, LLC (the “Adviser”), a California limited liability company.

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VALUED ADVISERS TRUST AMENDED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • May 30th, 2013 • Valued Advisers Trust

THIS AMENDED EXPENSE LIMITATION AGREEMENT (“Agreement”) being first made as of December 12, 2012, by and between Valued Advisers Trust, a Delaware statutory trust (the “Trust”), on behalf of one or more of its series portfolios as set forth on Schedule A, (each a “Fund”), and BRC Investment Management LLC (the “Adviser”), a Delaware limited liability company, is hereby amended and made effective as of April 1, 2013.

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