0001193125-15-328345 Sample Contracts

VALUED ADVISERS TRUST AMENDED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • September 25th, 2015 • Valued Advisers Trust

THIS AGREEMENT is made and entered into effective as of October 1, 2015 by and between Valued Advisers Trust, a Delaware statutory trust (the “Trust”), on behalf of its series portfolios as set forth on Schedule A, (each a “Fund”), and Long Short Advisors, LLC (the “Adviser”), a Delaware limited liability company.

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SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • September 25th, 2015 • Valued Advisers Trust • Delaware

THIS SUB-ADVISORY AGREEMENT (“Agreement”) is made as of September 18, 2015 (the “Effective Date”), by and between Long Short Advisors, LLC, a Pennsylvania limited liability company (“Manager”), and Prospector Partners, LLC, a Delaware limited liability company (“Sub-Adviser”).

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