0001193125-13-413370 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • October 28th, 2013 • Valued Advisers Trust • Delaware

INVESTMENT ADVISORY AGREEMENT (the “Agreement”) made as of this 23rd day of July, 2013 by and between Valued Advisers Trust (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), and Dana Investment Advisors, Inc., (the “Adviser”), a Wisconsin corporation with its principal place of business in Brookfield, Wisconsin.

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VALUED ADVISERS TRUST EXPENSE LIMITATION AGREEMENT
Valued Advisers Trust • October 28th, 2013 • Valued Advisers Trust

THIS AGREEMENT is made and entered into effective as of July 23, 2013 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 Dana Investment Advisors, Inc. (the “Adviser”), a Wisconsin corporation.

MUTUAL FUND SERVICES AGREEMENT
Mutual Fund Services Agreement • October 28th, 2013 • Valued Advisers Trust • Indiana

AGREEMENT (this “Agreement”), dated as of July 23, 2013 (“Effective Date”), by and among Valued Advisers Trust, a Delaware statutory trust (the “Trust”), Huntington Asset Services, Inc., a Delaware corporation (“HASI”) and Dana Investment Advisors, Inc., a Wisconsin corporation (“Adviser”). Adviser is a party to this agreement solely for purposes of evidencing Adviser’s agreement to the term of this Agreement, and the fees payable under the Agreement, as described in Sections 6 and 10, and in Exhibit E.

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