0001111830-13-000634 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • September 27th, 2013 • Ultimus Managers Trust • Ohio

This Investment Advisory Agreement (the “Agreement”) is made and entered into effective as of July 23, 2013, 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 Wavelength Capital Management, LLC, a a Delaware limited liability corporation (the “Adviser”).

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EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST
Expense Limitation Agreement • September 27th, 2013 • Ultimus Managers Trust

THIS AGREEMENT, dated as of July 23, 2013, is made and entered into by and between the Ultimus Managers Trust, an Ohio business trust (the “Trust”), on behalf of the series of the Trust set forth on Schedule A attached hereto (the “Fund”), and Wavelength Capital Management, LLC (the “Adviser”).

ULTIMUS MANAGERS TRUST FIFTH AMENDMENT TO THE CUSTODY AGREEMENT
Custody Agreement • September 27th, 2013 • Ultimus Managers Trust

THIS FIFTH AMENDMENT dated as of the 11th day of September, 2013, to the Custody Agreement, dated as of June 5, 2012, as amended August 20, 2012, August 21, 2012, December 31, 2012 and May 28, 2013 (the " Custody Agreement"), is entered into by and between ULTIMUS MANAGERS TRUST, an Ohio business trust, (the “Trust”) and U.S. BANK, N.A., a national banking association (the "Custodian").

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