INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • October 15th, 2024 • Ultimus Managers Trust • Ohio
This Investment Advisory Agreement (the “Agreement”) is made and entered into effective as of March 1, 2024, by and between 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”), a series of shares of the Trust, and Westwood Management Corp., a New York corporation (the “Adviser”).
AMENDED SCHEDULE A Dated July 31, 2024 to EXPENSE LIMITATION AGREEMENT DATED DECEMBER 1, 2019 FOR ULTIMUS MANAGERS TRUST OPERATING EXPENSE LIMITSExpense Limitation Agreement • October 15th, 2024 • Ultimus Managers Trust
* Expressed as a percentage of a Fund’s average daily net assets. This amount is exclusive of brokerage costs, taxes, interest, borrowing costs such as interest and dividend expenses on securities sold short, costs to organize the Fund, Acquired Fund fees and expenses, and extraordinary expenses such as litigation and merger or reorganization costs and other expenses not incurred in the ordinary course of such Fund’s business.
