0001193125-16-640053 Sample Contracts

VALUED ADVISERS TRUST DISTRIBUTION AGREEMENT
Distribution Agreement • July 1st, 2016 • Valued Advisers Trust • Indiana

DISTRIBUTION AGREEMENT, dated as of June 21, 2016, by and among Valued Advisers Trust, a Delaware statutory trust (the “Trust”), each investment adviser to each series of the Trust as set forth on Exhibit A (each an “Adviser” and, collectively, the “Advisers”), and Unified Financial Securities, LLC, a Delaware limited liability company (the “Distributor”).

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INTERIM INVESTMENT ADVISORY AGREEMENT
Interim Investment Advisory Agreement • July 1st, 2016 • Valued Advisers Trust • Delaware

This INTERIM AGREEMENT is made as of June 21, 2016 between VALUED ADVISERS TRUST, a Delaware statutory trust (the “Trust”), and FOUNDRY PARTNERS, LLC, a Delaware limited liability company (the “Investment Advisor”).

MUTUAL FUND SERVICES AGREEMENT Fund Accounting Services Fund Administration Services Transfer Agency Services by and among VALUED ADVISERS TRUST, ULTIMUS ASSET SERVICES, LLC and FOUNDRY PARTNERS, LLC June 21, 2016
Mutual Fund Services Agreement • July 1st, 2016 • Valued Advisers Trust • Indiana

AGREEMENT (this “Agreement”), dated as of June 21, 2016 (“Effective Date”), by and among Valued Advisers Trust, a Delaware statutory trust (the “Trust”), Ultimus Asset Services, LLC, a Delaware limited liability company (“Ultimus”) and Foundry Partners, LLC, a Delaware limited liability company (“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.

VALUED ADVISERS TRUST AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • July 1st, 2016 • Valued Advisers Trust

THIS AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT (“Agreement”) 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, (the “Fund”), and Foundry Partners, LLC (the “Adviser”), a Delaware limited liability company, is hereby made effective as of June 21, 2016.

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