0001580642-23-005193 Sample Contracts

VALUED ADVISERS TRUST AMENDED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • September 28th, 2023 • Valued Advisers Trust

THIS AGREEMENT is made and entered into effective as of October 1, 2023 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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Second Amendment to the Sub-Advisory Agreement and Side Letter Agreement
Sub-Advisory Agreement • September 28th, 2023 • Valued Advisers Trust

WHEREAS, Manager and Sub-Adviser entered the Sub-Advisory Agreement, dated September 18, 2015, (the “Sub-Advisory Agreement”)·and the related Side Letter Agreement, dated July 9, 2015 (collectively, the "Agreements"); and

AMENDMENT TO SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • September 28th, 2023 • Valued Advisers Trust • Pennsylvania

This Amendment to the Sub-Advisory Agreement (the “Amendment”) is entered into effective as of November 1, 2022 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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