0001398344-17-012420 Sample Contracts

AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST
Expense Limitation Agreement • September 28th, 2017 • Ultimus Managers Trust

THIS AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT (the “Agreement”), dated as of July 24, 2017, is made and entered into by and between the ULTIMUS MANAGERS TRUST, an Ohio business trust (the “Trust”), on behalf of each series of the Trust set forth on Schedule A attached hereto (each a “Fund”), and Alambic Investment Management, L.P. (the “Adviser”).WHEREAS, the Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”); and

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EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST
Expense Limitation Agreement • September 28th, 2017 • Ultimus Managers Trust

THIS AGREEMENT, dated January 24, 2017, is made and entered into by and between the Ultimus Managers Trust, an Ohio business trust (the “Trust”), on behalf of each series of the Trust set forth on Schedule A attached hereto (individually the “Fund” and collectively, the “Funds”), and Ryan Labs Asset Management Inc. (the “Adviser”).

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