0001193125-15-362323 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • November 2nd, 2015 • Valued Advisers Trust • Delaware

INVESTMENT ADVISORY AGREEMENT (the “Agreement”) made as of this 9th day of September, 2015 by and between Valued Advisers Trust (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), and Dana Investment Advisors, Inc., (the “Adviser”), a Wisconsin corporation with its principal place of business in Brookfield, Wisconsin.

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VALUED ADVISERS TRUST EXPENSE LIMITATION AGREEMENT
Valued Advisers Trust • November 2nd, 2015 • Valued Advisers Trust

THIS AGREEMENT is made and entered into effective as of September 9, 2015 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 Dana Investment Advisors, Inc. (the “Adviser”), a Wisconsin corporation.

SECOND AMENDMENT TO MUTUAL FUND SERVICES AGREEMENT
Mutual Fund Services Agreement • November 2nd, 2015 • Valued Advisers Trust • Indiana

This Amendment to the Mutual Fund Services Agreement (“Amendment”) is entered into and effective as of September 9, 2015 by and among Huntington Asset Services, Inc. (“Huntington”), Valued Advisers Trust, (the “Trust”), and Dana Investment Advisors, Inc. (“Adviser”) .

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