0001193125-16-607683 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • May 31st, 2016 • Valued Advisers Trust • Delaware

INVESTMENT ADVISORY AGREEMENT (the “Agreement”) made as of this 16th day of March, 2016 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 Kovitz Investment Group Partners, LLC (the “Adviser”), a Delaware limited liability company with its principal place of business in Chicago, Illinois.

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VALUED ADVISERS TRUST AMENDED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • May 31st, 2016 • Valued Advisers Trust

THIS AGREEMENT is made and entered into effective as of June 1, 2016 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.

VALUED ADVISERS TRUST DISTRIBUTION AGREEMENT
Distribution Agreement • May 31st, 2016 • Valued Advisers Trust • Indiana

DISTRIBUTION AGREEMENT, dated as of January 1, 2016, by and among Valued Advisers Trust, a Delaware statutory trust (the “Trust”), each investment adviser to each series of the Trust as set forth on Exhibit A (each an “Adviser” and, collectively, the “Advisers”), and Unified Financial Securities, LLC, a Delaware limited liability company (the “Distributor”).

VALUED ADVISERS TRUST DISTRIBUTION AGREEMENT
Distribution Agreement • May 31st, 2016 • Valued Advisers Trust • Indiana

DISTRIBUTION AGREEMENT, dated as of January 1, 2016, by and among Valued Advisers Trust, a Delaware statutory trust (the “Trust”), each investment adviser to each series of the Trust as set forth on Exhibit A (each an “Adviser” and, collectively, the “Advisers”), and Unified Financial Securities, LLC, a Delaware limited liability company (the “Distributor”).

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