AMENDED AND RESTATED MANAGEMENT AGREEMENTManagement Agreement • January 28th, 2015 • Unified Series Trust • Ohio
WHEREAS, Pekin Singer Strauss Asset Management, Inc. (the “Adviser”) and Unified Series Trust (the “Trust”) entered into a Management Agreement, effective as of October 10, 2011, pursuant to which the Adviser has agreed to act as the investment adviser of the Appleseed Fund (the “Fund”) (the management Agreement, as hereby amended and restated, is referred to hereinafter as the “Agreement”); and
PEKIN SINGER STRAUSS ASSET MANAGEMENTUnified Series Trust • January 28th, 2015
Effective as of October 1, 2014, we hereby agree to waive our advisory fee and/or reimburse expenses of the Fund, but only to the extent necessary to maintain the Fund’s total annual operating expenses, excluding brokerage fees and commissions; fees paid pursuant to the Administrative Services Plan (Investor Class only), borrowing costs such as (a) interest and (b) dividend expenses on securities sold short; any 12b-1 fees; taxes; extraordinary litigation expenses; and any indirect expenses, such as expenses incurred by other investment companies in which the Fund may invest; at 0.95% of the Fund’s average daily net assets. This Agreement shall continue in place until the earlier to occur of January 31, 2016, or such date as the Fund is terminated or liquidated in accordance with the provisions of the Trust’s Declaration of Trust or Bylaws. We understand that we may not terminate this Agreement prior to such date, except that we may voluntarily agree to lower the expense cap.
