0001398344-20-004570 Sample Contracts

VALUED ADVISERS TRUST DISTRIBUTION AGREEMENT
Distribution Agreement • February 28th, 2020 • Valued Advisers Trust • Indiana

DISTRIBUTION AGREEMENT, dated as of December 31, 2019, by and among Valued Advisers Trust, a Delaware statutory trust (the “Trust”), the investment adviser to one or more series of the Trust as set forth on Exhibit A (the “Adviser”), and Ultimus Fund Distributors, LLC, an Ohio limited liability company (the “Distributor”).

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VALUED ADVISERS TRUST AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • February 28th, 2020 • Valued Advisers Trust

THIS AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT (“Agreement”) 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, is hereby made effective as of March 1, 2020.

SECOND AMENDMENT to MASTER SERVICES Agreement Between VALUED ADVISERS Trust and Ultimus FUND SOLUTIONS, LLC
Master Services Agreement • February 28th, 2020 • Valued Advisers Trust

This second amendment (the “Amendment”) is effective as of January 1, 2020, and revises the Master Services Agreement, dated April 12, 2018, between Valued Advisers Trust (the “Trust”), and Ultimus Fund Solutions, LLC (“Ultimus”), an Ohio limited liability company (the “Agreement”).

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