0001111830-14-000272 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • April 28th, 2014 • Ultimus Managers Trust • Ohio

This Investment Advisory Agreement (the “Agreement”) is made and entered into effective as of ___________________, 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 Lyrical Asset Management, L.P., a limited partnership (the “Adviser”).

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FIRST AMENDED EXPENSE LIMITATION AGREEMENT FOR ULTIMUS MANAGERS TRUST
Expense Limitation Agreement • April 28th, 2014 • Ultimus Managers Trust

THIS FIRST AMENDED AGREEMENT, dated as of ___________________, 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 Lyrical Asset Management LP (the “Adviser”).

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