0001193125-12-085947 Sample Contracts

VALUED ADVISERS TRUST EXPENSE LIMITATION AGREEMENT
Valued Advisers Trust • February 29th, 2012 • Valued Advisers Trust

THIS AGREEMENT is made effective as of October 31, 2011 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 Geier Asset Management, Inc. (the “Adviser”), a Maryland corporation.

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