# EDGAR Filing Document

**Accession Number:** 0001257927
**File Stem:** 0001821268-23-000012
**Filing Date:** 2023-1
**Character Count:** 293141
**Document Hash:** d44967db935ea42e749785eef25a05bc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001821268-23-000012.hdr.sgml**: 20230105

**ACCESSION NUMBER**: 0001821268-23-000012

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 25

**FILED AS OF DATE**: 20230105

**DATE AS OF CHANGE**: 20230105

**EFFECTIVENESS DATE**: 20230105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WEITZ FUNDS
- **CENTRAL INDEX KEY:** 0001257927
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21410
- **FILM NUMBER:** 23510234

**BUSINESS ADDRESS:**
- **STREET 1:** 1125 SOUTH 103 ST
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68124
- **BUSINESS PHONE:** 4023911980

**MAIL ADDRESS:**
- **STREET 1:** 1125 SOUTH 103 ST
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68124
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WEITZ FUNDS
- **CENTRAL INDEX KEY:** 0001257927
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-107797
- **FILM NUMBER:** 23510233

**BUSINESS ADDRESS:**
- **STREET 1:** 1125 SOUTH 103 ST
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68124
- **BUSINESS PHONE:** 4023911980

**MAIL ADDRESS:**
- **STREET 1:** 1125 SOUTH 103 ST
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68124

## Series and Classes Contracts Data

### Value Fund (Series ID: S000003479)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000009625 | Value Fund - Investor Class      | WVALX           |
| C000144331 | Value Fund - Institutional Class | WVAIX           |

### Hickory Fund (Series ID: S000003480)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000009626 | Hickory Fund | WEHIX           |

### Partners Value Fund (Series ID: S000003481)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000009627 | Partners Value Fund - Investor Class      | WPVLX           |
| C000144332 | Partners Value Fund - Institutional Class | WPVIX           |

### Balanced Fund (Series ID: S000003482)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000009628 | Balanced Fund - Investor Class      | WBALX           |
| C000212508 | Balanced Fund - Institutional Class | WBAIX           |

### Short Duration Income Fund (Series ID: S000003483)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000009629 | Short Duration Income Fund - Institutional Class | WEFIX           |
| C000103218 | Short Duration Income Fund - Investor Class      | WSHNX           |

### Ultra Short Government Fund (Series ID: S000003484)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000009630 | Ultra Short Government Fund - Institutional Class | SAFEX           |

### Partners III Opportunity Fund (Series ID: S000008514)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000023365 | Partners III Opportunity Fund - Institutional Class | WPOPX           |
| C000103219 | Partners III Opportunity Fund - Investor Class      | WPOIX           |

### Nebraska Tax-Free Income Fund (Series ID: S000014975)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000040696 | Nebraska Tax-Free Income Fund | WNTFX           |

### Core Plus Income Fund (Series ID: S000046118)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000144329 | Core Plus Income Fund - Institutional Class | WCPBX           |
| C000144330 | Core Plus Income Fund - Investor Class      | WCPNX           |

**As filed with the U.S. Securities and Exchange Commission on January 5, 2023**

**1933 Act Registration Number 333-107797**

**1940 Act Registration Number 811-21410**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-1A**

---

| | |
|:---|:---|
| **REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933** | ⌧ |
| **Post-Effective Amendment No. 52** | ⌧ |
| **and/or** |  |
| **REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940** | ⌧ |
| **Amendment No. 53** | ⌧ |
| **<u> </u>** |  |
| **The Weitz Funds** |  |
| **(Exact Name of Registrant as Specified in Charter)** |  |
| **Suite 200** |  |
| **1125 South 103 Street** |  |
| **Omaha, NE 68124-1071** |  |
| **(Address of Principal Executive Offices)** |  |
| **Registrant's Telephone Number, including Area Code: (402) 391-1980** |  |
| **Wallace R. Weitz** |  |
| **Suite 200** |  |
| **1125 South 103 Street** |  |
| **Omaha, NE 68124-1071** |  |
| **(Name and Address of Agent for Service)** |  |
| **Copies of all communications to:** |  |
| **Patrick W. D. Turley, Esq.** |  |
| **Dechert LLP** |  |
| **1900 K Street N.W.** |  |
| **Washington, DC 20006** |  |

---

It is proposed that this filing will become effective immediately upon filing

pursuant to paragraph (b) of Rule 485.

**Explanatory Note:**

This Post-Effective Amendment No. 52 to the Registrant's Registration Statement on Form N-1A (File No. 333-107797) is being filed solely for the purpose of adding certain new exhibits to the Registrant's Post-Effective Amendment No. 51 to its Registration Statement that was previously filed on July 29, 2022 pursuant to Rule 485(b) under the Securities Act of 1933, as amended (the "Securities Act"), as supplemented by the Registrant's filings pursuant to Rule 497 under the Securities Act made on August 19, 2022, October 24, 2022, December 28, 2022 and January 3, 2023. Accordingly, this Post-Effective Amendment No. 52 consists only of a facing page, this explanatory note and Part C of the Registration Statement on Form N-1A, setting forth the new exhibits to the Registration Statement. This Post-Effective Amendment No. 52 does not modify any other part of the Registrant's Post-Effective Amendment No. 51 to its Registration Statement and shall become effective immediately upon filing with the Securities and Exchange Commission. The contents of the Registrant's Post-Effective Amendment No. 51 to its Registration Statement, as supplemented, are hereby incorporated by reference in their entirety.

**PART C: OTHER INFORMATION**

Item 28. Exhibits

Exhibit No. Description

[(a)(i)](https://www.sec.gov/Archives/edgar/data/1257927/000104746903026789/a2115394zex-99_a1.txt) [Certificate of Trust (1)](https://www.sec.gov/Archives/edgar/data/1257927/000104746903026789/a2115394zex-99_a1.txt)

[(a)(ii)](https://www.sec.gov/Archives/edgar/data/1257927/000104746903026789/a2115394zex-99_a2.txt) [Declaration of Trust (1)](https://www.sec.gov/Archives/edgar/data/1257927/000104746903026789/a2115394zex-99_a2.txt)

[(b)](https://www.sec.gov/Archives/edgar/data/1257927/000104746903026789/a2115394zex-99_b.txt) [By-Laws (1)](https://www.sec.gov/Archives/edgar/data/1257927/000104746903026789/a2115394zex-99_b.txt)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Certificates for Shares are not issued

[(d)(i)](ex99d1.htm) [Management and Investment Advisory Agreement for Balanced Fund (filed herewith)](ex99d1.htm)

[(d)(ii)](ex99d2.htm) [Management and Investment Advisory Agreement for Value Fund (filed herewith)](ex99d2.htm)

[(d)(iii)](ex99d3.htm) [Management and Investment Advisory Agreement for Partners Value Fund (filed herewith)](ex99d3.htm)

[(d)(iv)](ex99d4.htm) [Management and Investment Advisory Agreement for Hickory Fund (filed herewith)](ex99d4.htm)

[(d)(v)](ex99d5.htm) [Management and Investment Advisory Agreement for Short Duration Income Fund (filed herewith)](ex99d5.htm)

[(d)(vi)](ex99d6.htm) [Management and Investment Advisory Agreement for Ultra Short Government Fund (filed herewith)](ex99d6.htm)

[(d)(vii)](ex99d7.htm) [Management and Investment Advisory Agreement for Partners III Opportunity Fund (filed herewith)](ex99d7.htm)

[(d)(viii)](ex99d8.htm) [Management and Investment Advisory Agreement for Nebraska Tax-Free Income Fund (filed herewith)](ex99d8.htm)

[(d)(ix)](ex99d9.htm) [Management and Investment Advisory Agreement for Core Plus Income Fund (filed herewith)](ex99d9.htm)

[(d)(x)](ex99d10.htm) [Expense Limitation Agreement for Value Fund Institutional Class Shares (filed herewith)](ex99d10.htm)

[(d)(xi)](ex99d11.htm) [Expense Limitation Agreement for Value Fund Investor Class Shares (filed herewith)](ex99d11.htm)

[(d)(xii)](ex99d12.htm) [Expense Limitation Agreement for Partners Value Fund Institutional Class Shares (filed herewith)](ex99d12.htm)

[(d)(xiii)](ex99d13.htm) [Expense Limitation Agreement for Partners Value Fund Investor Class Shares (filed herewith)](ex99d13.htm)

[(d)(xiv)](ex99d14.htm) [Expense Limitation Agreement for Short Duration Income Fund Investor Class Shares (filed herewith)](ex99d14.htm)

[(d)(xv)](ex99d15.htm) [Expense Limitation Agreement for Short Duration Income Fund Institutional Class Shares (filed herewith)](ex99d15.htm)

[(d)(xvi)](ex99d16.htm) [Expense Limitation Agreement for Ultra Short Government Fund Institutional Class Shares (filed herewith)](ex99d16.htm)

[(d)(xvii)](ex99d17.htm) [Expense Limitation Agreement for Core Plus Income Fund Institutional Class Shares (filed herewith)](ex99d17.htm)

[(d)(xviii)](ex99d18.htm) [Expense Limitation Agreement for Core Plus Income Fund Investor Class Shares (filed herewith)](ex99d18.htm)

[(d)(xix)](ex99d19.htm) [Expense Limitation Agreement for Balanced Fund Investor Class Shares (filed herewith)](ex99d19.htm)

[(d)(xx)](ex99d20.htm) [Expense Limitation Agreement for Balanced Fund Institutional Class Shares (filed herewith)](ex99d20.htm)

[(d)(xxi)](ex99d21.htm) [Expense Limitation Agreement for Hickory Fund (filed herewith)](ex99d21.htm)

[(d)(xxii)](ed99d22.htm) [Expense Limitation Agreement for Nebraska Tax-Free Income Fund (filed herewith)](ed99d22.htm)

[(e)](https://www.sec.gov/Archives/edgar/data/1257927/000089180411003356/ex99e.htm) [Distribution Agreement<sup>(3)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000089180411003356/ex99e.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Not Applicable

---

| | |
|:---|:---|
| [(g)(i)](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000114/ex99g.htm) | [Global Custodian Services Agreement with Citibank, N.A.<sup>(5)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000114/ex99g.htm) |

---

[(h)(i)](ex99h1.htm) [Business Administration Agreement (filed herewith)](ex99h1.htm)

---

| | |
|:---|:---|
| [(h)(ii)](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000114/ex99hiv.htm) | [Services Agreement with Citi Fund Services Ohio, Inc.<sup>(5)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000114/ex99hiv.htm) |

---

[(h)(iii)](ex99h3.htm) [Master Services Agreement with Ultimus Fund Solutions, LLC (filed herewith)](ex99h3.htm)

[(i)](https://www.sec.gov/Archives/edgar/data/1257927/000182126822000168/ex99i.htm) [Opinion and Consent of Counsel <sup>(7)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000182126822000168/ex99i.htm)

[(j)](https://www.sec.gov/Archives/edgar/data/1257927/000182126822000168/ex99j.htm) [Consent of Independent Registered Public Accounting Firm <sup>(7)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000182126822000168/ex99j.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Not Applicable

[(l)](https://www.sec.gov/Archives/edgar/data/1257927/000104746903031828/a2118863zex-99_l.txt) [Subscription Agreement<sup>(2)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000104746903031828/a2118863zex-99_l.txt)

---

| | |
|:---|:---|
| [(m)(i)](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000327/ex99mi.htm) | [Amended Administrative Services Plan for Investor Class Shares<sup>(6)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000327/ex99mi.htm) |

---

---

| | |
|:---|:---|
| [(m)(ii)](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000327/ex99mii.htm) | [Amended Administrative Services Plan for Institutional Class Shares<sup>(6)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000327/ex99mii.htm) |

---

[(n)](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000327/ex99n.htm) [Amended Plan Pursuant to Rule 18f-3<sup>(6)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000182126821000327/ex99n.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Not Applicable

[(p)](https://www.sec.gov/Archives/edgar/data/1257927/000089180419000247/ex99p.htm) [Code of Ethics – The Weitz Funds, Weitz Investment Management, Inc. and Weitz Securities, Inc.<sup>(4)</sup>](https://www.sec.gov/Archives/edgar/data/1257927/000089180419000247/ex99p.htm)

&nbsp;&nbsp;&nbsp;&nbsp;(1) Incorporated by reference to the Registrant's Initial Registration Statement on Form N-1A
filed on August 8, 2003.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Incorporated by reference
to the Registrant's Pre-Effective Amendment
No. 1 on Form N-1A filed on September 26, 2003.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Incorporated by reference
to the Registrant's Pre-Effective Amendment
No. 21 to its Registration Statement on Form N-1A filed on July 29, 2011.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Incorporated by reference
to the Registrant's Post-Effective Amendment
No. 44 to its Registration Statement on Form N-1A filed on July 26, 2019.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Incorporated by reference
to the Registrant's Post-Effective Amendment
No. 48 to its Registration Statement on Form N-1A filed on March 15, 2021.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Incorporated by reference
to the Registrant's Post-Effective Amendment
No. 49 to its Registration Statement on Form N-1A filed on July 30, 2021.

&nbsp;&nbsp;&nbsp;&nbsp;(7) Incorporated by reference
to the Registrant's Post-Effective Amendment
No. 51 to its Registration Statement on Form N-1A filed on July 29, 2022.

Item 29. <u>Persons Controlled by or under Common Control with the Registrant</u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.

Item 30. <u>Indemnification</u>

Reference is made to Article VII Section 3 in the Registrant's Declaration of Trust which is incorporated by reference herein. In addition to the indemnification provisions contained in the Registrant's Declaration of Trust, there are also indemnification and hold harmless provisions contained in the Investment Advisory Agreement, Distribution Agreement, Business Administration Agreement and Custodian Agreement.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to trustees, officers and controlling persons of the Registrant by the Registrant pursuant to the Declaration of Trust or otherwise, the Registrant is aware that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Act, and therefore, is unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by trustees, officers or controlling persons of the Registrant in connection with the successful defense of any act, suit or proceeding) is asserted by such trustees, officers or controlling persons in connection with the shares being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issues.

Item 31. <u>Business and Other Connections of Investment Adviser</u>

---

| | | |
|:---|:---|:---|
| Name | Positions with<br> Adviser | Principal Occupation (Present and for<br> Past Two Years) |
| Wallace R. Weitz | Chair of the Board and Co-Chief Investment Officer | See caption "Management" in the Statement of Additional Information forming a part of this Registration Statement |
| James J. Boyne | President and Treasurer | See caption "Management" in the Statement of Additional Information forming a part of this Registration Statement |
| John R. Detisch | Vice President, Secretary, General Counsel and Chief Compliance Officer | See caption "Management" in the Statement of Additional Informationforming a part of this Registration Statement |
| Bradley P. Hinton | Vice President and Co-Chief Investment Officer | See caption "Management" in the Statement of Additional Information forming a part of this Registration Statement |
| Andrew S. Weitz | Vice President and Director | See caption "Management" in the Statement of Additional Information forming a part of this Registration Statement |
| Shar M. Bennett | Vice President, Assistant Treasurer and Director of Finance and Operations | See caption "Management" in the Statement of Additional Information forming a part of this Registration Statement |
| Lori Dorsey | Vice President and Chief Client Officer | Vice President and Chief Client Officer of Weitz Inc. |
| Scott Moody | Vice President and Director of Technology | Director of Technology of Weitz Inc. |

---

Item 32. <u>Principal Underwriter</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Directors and Officers:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name and Principal<br> Business Address | Positions and Offices<br> with Underwriter | Positions and Offices<br> with Registrant |
| &nbsp;&nbsp;&nbsp;&nbsp; Wallace R. Weitz Suite 200<br> 1125 South 103 Street<br> Omaha, NE 68124-1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Director | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Trustee |
| &nbsp;&nbsp;&nbsp;&nbsp; James J. Boyne Suite 200<br> 1125 South 103 Street<br> Omaha, NE 68124-1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vice President and Treasurer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice President, Treasurer and Chief Financial Officer |
| &nbsp;&nbsp;&nbsp;&nbsp; John R. Detisch Suite 200<br> 1125 South 103 Street<br> Omaha, NE 68124-1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vice President,<br> Secretary, Chief Compliance Officer and Director | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice President, Secretary and Chief Compliance Officer |
| &nbsp;&nbsp;&nbsp;&nbsp; Shar M. Bennett Suite 200<br> 1125 South 103 Street<br> Omaha, NE 68124-1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vice President and Assistant Treasurer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice President and Assistant Treasurer |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Not applicable.

Item 33. <u>Location of Accounts and Records</u>

The accounts, books and other records required to be maintained by The Weitz Funds pursuant to Section 31(a) of the Investment Company Act of 1940 and the rules promulgated thereunder are in possession of: (1) Weitz Investment Management, Inc., 1125 South 103rd Street, Suite 200, Omaha, Nebraska 68124-1071 (records relating to its function as investment adviser and administrator for The Weitz Funds); (2) Weitz Securities, Inc., 1125 South 103rd Street, Suite 200, Omaha, Nebraska 68124-1071 (records relating to its function as distributor for The Weitz Funds); (3) Ultimus Fund Solutions, LLC, 4221 North 203<sup>rd</sup> Street, Suite 100, Elkhorn, Nebraska 68022 (records relating to its function as transfer agent for The Weitz Funds), (4) Citibank, N.A., 388 Greenwich Street, New York, New York 10013 (records relating to its function as custodian for The Weitz Funds, and (5) Citi Fund Services Ohio, Inc., 4400 Easton Commons, Suite 200, Columbus, Ohio 43219 (records relating to its function as sub-administrator for The Weitz Funds).

Item 34. <u>Management Services</u> Not applicable.

Item 35. <u>Undertakings</u> None.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of the Post-Effective Amendment to the Registration Statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement on Form N-1A to be signed on its behalf by the undersigned authorized individual in the City of Omaha, State of Nebraska, on the 5th day of January, 2023.

THE WEITZ FUNDS

By: <u>/s/ Wallace R. Weitz</u> Wallace R. Weitz, President

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on Form N-1A has been signed below by the following persons in the capacities indicated on January 5, 2023:

---

| | |
|:---|:---|
| <u>Signature</u> | <u>Title</u> |
| <u>/s/ Wallace R. Weitz</u><br> Wallace R. Weitz  | President and Trustee |
| <u>/s/ James J. Boyne</u><br> James J.Boyne | Treasurer and Chief Financial Officer |
| <u>/s/ Lorraine Chang\*</u><br>Lorraine Chang | Trustee |
| <u>/s/ Steven M. Hill</u>\*\*\*<br>Steven M. Hill | Trustee |
| <u>/s/ Alison M. Maloy</u>\*\*\*<br> Alison M. Maloy | Trustee |
| <u>/s/ Elizabeth L. Sylvester</u>\*\*\*<br>Elizabeth L. Sylvester | Trustee |
| <u>/s/ Dana E. Washington\*\*</u><br>Dana E. Washington | Trustee |
| <u>/s/ Justin B. Wender\*</u><br> Justin B. Wender | Trustee |
| <u>/s/ Andrew S. Weitz\*\*\*</u><br> <u>Andrew S. Weitz</u><br>| Trustee |
| <u>/s/ Wallace R. Weitz</u> <br> Wallace R. Weitz <br> Attorney-in-fact |  |

---

\* Pursuant to Power of Attorney filed with Post-Effective Amendment No. 48 to the Registration Statement on Form N-1A as filed on March 15, 2021.

\*\* Pursuant to Power of Attorney filed with Post-Effective Amendment No. 49 to the Registration Statement on Form N-1A as filed on July 29, 2022.

\*\*\*Filed herewith

**POWER OF ATTORNEY**

**KNOW ALL MEN BY THESE PRESENTS,** that the undersigned hereby constitutes and appoints each of Wallace R. Weitz, Andrew S. Weitz, James J. Boyne, John R. Detisch and Patrick W. D. Turley as his/her true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, for his/her and in his/her name, place, and stead, in all of his/her capacities as a Trustee of The Weitz Funds, a Delaware statutory trust (the "Trust"), to sign on his/her behalf any and all registration statements applicable to the Trust and any amendments or supplements thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the U.S. Securities and Exchange Commission, or the securities administrator of any jurisdiction, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he/she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his/her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

**IN WITNESS WHEREOF,** the undersigned has herewith set his name as of this 30<sup>th</sup> day of December 2022.

 <u>/s/ Steven M. Hill</u> 

Steven M. Hill

**POWER OF ATTORNEY**

**KNOW ALL MEN BY THESE PRESENTS,** that the undersigned hereby constitutes and appoints each of Wallace R. Weitz, Andrew S. Weitz, James J. Boyne, John R. Detisch and Patrick W. D. Turley as his/her true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, for his/her and in his/her name, place, and stead, in all of his/her capacities as a Trustee of The Weitz Funds, a Delaware statutory trust (the "Trust"), to sign on his/her behalf any and all registration statements applicable to the Trust and any amendments or supplements thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the U.S. Securities and Exchange Commission, or the securities administrator of any jurisdiction, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he/she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his/her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

**IN WITNESS WHEREOF,** the undersigned has herewith set her name as of this 30<sup>th</sup> day of December 2022.

 <u>/s/ Alison L. Maloy</u> 

Alison L. Maloy

**POWER OF ATTORNEY**

**KNOW ALL MEN BY THESE PRESENTS,** that the undersigned hereby constitutes and appoints each of Wallace R. Weitz, Andrew S. Weitz, James J. Boyne, John R. Detisch and Patrick W. D. Turley as his/her true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, for his/her and in his/her name, place, and stead, in all of his/her capacities as a Trustee of The Weitz Funds, a Delaware statutory trust (the "Trust"), to sign on his/her behalf any and all registration statements applicable to the Trust and any amendments or supplements thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the U.S. Securities and Exchange Commission, or the securities administrator of any jurisdiction, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he/she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his/her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

**IN WITNESS WHEREOF,** the undersigned has herewith set her name as of this 30<sup>th</sup> day of December 2022.<br>

 <u>/s/ Elizabeth L. Sylvester</u> 

Elizabeth L. Sylvester

**POWER OF ATTORNEY**

**KNOW ALL MEN BY THESE PRESENTS,** that the undersigned hereby constitutes and appoints each of Wallace R. Weitz, James J. Boyne, John R. Detisch and Patrick W. D. Turley as his/her true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, for his/her and in his/her name, place, and stead, in all of his/her capacities as a Trustee of The Weitz Funds, a Delaware statutory trust (the "Trust"), to sign on his/her behalf any and all registration statements applicable to the Trust and any amendments or supplements thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the U.S. Securities and Exchange Commission, or the securities administrator of any jurisdiction, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he/she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his/her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

**IN WITNESS WHEREOF,** the undersigned has herewith set his name as of this 30<sup>th</sup> day of December 2022.

 <u>/s/ Andrew S. Weitz</u> 

Andrew S. Weitz

<u>EXHIBIT INDEX</u>

<u>Exhibit No.</u> <u>Description</u>

[(d)(i)](ex99d1.htm) [Management and Investment Advisory Agreement for Balanced Fund](ex99d1.htm)

[(d)(ii)](ex99d2.htm) [Management and Investment Advisory Agreement for Value Fund](ex99d2.htm)

[(d)(iii)](ex99d3.htm) [Management and Investment Advisory Agreement for Partners Value Fund](ex99d3.htm)

[(d)(iv)](ex99d4.htm) [Management and Investment Advisory Agreement for Hickory Fund](ex99d4.htm)

[(d)(v)](ex99d5.htm) [Management and Investment Advisory Agreement for Short Duration Income Fund](ex99d5.htm)

[(d)(vi)](ex99d6.htm) [Management and Investment Advisory Agreement for Ultra Short Government Fund](ex99d6.htm)

[(d)(vii)](ex99d7.htm) [Management and Investment Advisory Agreement for Partners III Opportunity Fund](ex99d7.htm)

[(d)(viii)](ex99d8.htm) [Management and Investment Advisory Agreement for Nebraska Tax-Free Income Fund](ex99d8.htm)

[(d)(ix)](ex99d9.htm) [Management and Investment Advisory Agreement for Core Plus Income Fund](ex99d9.htm)

[(d)(x)](ex99d10.htm) [Expense Limitation Agreement for Value Fund Institutional Class Shares](ex99d10.htm)

[(d)(xi)](ex99d11.htm) [Expense Limitation Agreement for Value Fund Investor Class Shares](ex99d11.htm)

[(d)(xii)](ex99d12.htm) [Expense Limitation Agreement for Partners Value Fund Institutional Class Shares](ex99d12.htm)

[(d)(xiii)](ex99d13.htm) [Expense Limitation Agreement for Partners Value Fund Investor Class Shares](ex99d13.htm)

[(d)(xiv)](ex99d14.htm) [Expense Limitation Agreement for Short Duration Income Fund Investor Class Shares](ex99d14.htm)

[(d)(xv)](ex99d15.htm) [Expense Limitation Agreement for Short Duration Income Fund Institutional Class Shares](ex99d15.htm)

[(d)(xvi)](ex99d16.htm) [Expense Limitation Agreement for Ultra Short Government Fund Institutional Class Shares](ex99d16.htm)

[(d)(xvii)](ex99d17.htm) [Expense Limitation Agreement for Core Plus Income Fund Institutional Class Shares](ex99d17.htm)

[(d)(xviii)](ex99d18.htm) [Expense Limitation Agreement for Core Plus Income Fund Investor Class Shares](ex99d18.htm)

[(d)(xix)](ex99d19.htm) [Expense Limitation Agreement for Balanced Fund Investor Class Shares](ex99d19.htm)

[(d)(xx)](ex99d20.htm) [Expense Limitation Agreement for Balanced Fund Institutional Class Shares](ex99d20.htm)

[(d)(xxi)](ex99d21.htm) [Expense Limitation Agreement for Hickory Fund](ex99d21.htm)

[(d)(xxii)](ed99d22.htm) [Expense Limitation Agreement for Nebraska Tax-Free Income Fund](ed99d22.htm)

[(h)(i)](ex99h1.htm) [Business Administration Agreement](ex99h1.htm)

[(h)(iii)](ex99h3.htm) [Master Services Agreement with Ultimus Fund Solutions, LLC](ex99h3.htm)

## Ex-99

Exhibit (d)(i)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Balanced Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to 0.60% of the average daily net assets of the Fund.

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder, nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(ii)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Value Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to the following percentages based on the average daily net assets of the Fund:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Greater than: | &nbsp;&nbsp;Equal to or less than: | &nbsp;&nbsp;Rate: |
| &nbsp;&nbsp;$0 | &nbsp;&nbsp;$5000000000 | &nbsp;&nbsp;0.75% |
| $5000000000 |  | 0.70% |

---

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the

Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder, nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote

of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(iii)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Partners Value Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to the following percentages based on the average daily net assets of the Fund:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Greater than: | &nbsp;&nbsp;Equal to or less than: | &nbsp;&nbsp;Rate: |
| &nbsp;&nbsp;$0 | &nbsp;&nbsp;$5000000000 | &nbsp;&nbsp;0.75% |
| $5000000000 |  | 0.70% |

---

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the

Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder, nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote

of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(iv)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Hickory Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to the following percentages based on the average daily net assets of the Fund:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Greater than: | &nbsp;&nbsp;Equal to or less than: | &nbsp;&nbsp;Rate: |
| &nbsp;&nbsp;$0 | &nbsp;&nbsp;$5000000000 | &nbsp;&nbsp;0.85% |
| $5000000000 |  | 0.80% |

---

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the

Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder, nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote

of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(v)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Short Duration Income Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to 0.40% of the average daily net assets of the Fund.

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder,

nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(vi)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Ultra Short Government Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to 0.30% of the average daily net assets of the Fund.

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder,

nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: _____________________

President

Attest: __________________

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: _____________________

President

Attest: <u>___________________</u>

Secretary

## Ex-99

Exhibit (d)(vii)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Partners III Opportunity Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to the following percentages based on the average daily net assets of the Fund:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Greater than: | &nbsp;&nbsp;Equal to or less than: | &nbsp;&nbsp;Rate: |
| &nbsp;&nbsp;$0 | &nbsp;&nbsp;$1000000000 | &nbsp;&nbsp;1.00% |
| $1000000000 | &nbsp;&nbsp;$2000000000 | 0.95% |
| $2000000000 | &nbsp;&nbsp;$3000000000 | 0.90% |
| $3000000000 | &nbsp;&nbsp;$5000000000 | 0.85% |
| $5000000000 |  | 0.80% |

---

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no

authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder, nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not

be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

 **IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(viii)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of December 9, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Nebraska Tax-Free Income Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to 0.40% of the average daily net assets of the Fund.

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder,

nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(ix)

**MANAGEMENT AND INVESTMENT ADVISORY AGREEMENT**

This **MANAGEMENT AND INVESTMENT ADVISORY AGREMEMENT** (this "Agreement") dated as of July 31, 2022 is between **THE WEITZ FUNDS**, a Delaware statutory trust (hereinafter called the "Trust") and **WEITZ INVESTMENT MANAGEMENT, INC**., a Nebraska corporation (hereinafter called the "Adviser");

**WHEREAS**, the Trust and the Adviser desire to enter into this Agreement, to set forth management and investment advisory matters for the Core Plus Income Fund (the "Fund").

In consideration of the mutual covenants herein contained, the parties hereto agree as follows:

**1**. **<u>Appointment of Investment Adviser</u>**

The Trust hereby appoints the Adviser to manage the investment and reinvestment of assets of the Fund and to administer its affairs, subject to the supervision of the Board of Trustees of the Trust for the period and on the terms set forth herein. The Adviser hereby accepts such appointment and agrees during such period, at its own expense, to render the services and to assume the obligations herein set forth, for the compensation herein provided. The Adviser shall not be liable to the Trust for any act or omission by the Adviser or for any losses sustained by the Trust or its shareholders except in the case of willful misfeasance, bad faith, gross negligence or reckless disregard of duty. The federal and state securities laws and other laws may impose liability under certain circumstances on persons who act in good faith, and therefore, nothing in this Agreement will waive or limit any rights the client may have under such laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Duties and Expenses of the Adviser and the Trust</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust shall, at all times, inform the Adviser as to the securities held by it, the funds available or to become available for investment by it, and otherwise as to the condition of its affairs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Adviser shall furnish to the Trust and specifically for the Fund, at the regular executive offices of the Trust, advice and recommendations with respect to the purchase and sale of securities and investments and the making of commitments; shall place at the disposal of the Trust such statistical, research, analytical and technical services, information and reports as may reasonably be required; shall furnish the Trust with office facilities in the offices of the Adviser, including space, furniture and equipment and supplies; and with administrative, clerical and bookkeeping personnel; and in general shall superintend the affairs of the Trust, subject to the supervision of the Board of Trustees of the Trust. The Adviser shall also pay or reimburse the Trust for the compensation, if any, of the officers of the Trust.

The officers of the Trust or the Adviser shall use their best efforts to obtain the most favorable execution available from brokers or dealers in purchasing and selling securities. In so doing, such officers may consider such factors which they may deem relevant to the Trust's best interest, such as price, the size of the transaction, the nature of the market for the security, the amount of commission, the timing of the transaction taking into account market prices and trends, the reputation, experience, and financial stability of the broker-dealer involved and the quality of service rendered by the broker-dealer in other transactions. Subject to the foregoing considerations, at the Trust's expense, such officers may place orders for the purchase or sale of portfolio securities with brokers or dealers who have provided research, statistical or other financial information and services to the Trust or the Adviser. Such officers shall have discretionary authority to utilize broker-dealers who have provided brokerage and research information of the type or nature referred to in Section 28(e) of the Securities Exchange Act of 1934 to the Trust or the Adviser even though it may result in the payment by the Trust of an amount of commission for effecting a securities transaction in excess of the amount of commission another broker-dealer would have charged for

effecting that transaction, providing, however, that the Trust officers have determined in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by the broker-dealer effecting the transactions, viewed in terms of either that particular transaction or their responsibilities with respect to the accounts for which said officers exercise investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise expressly provided herein, the Trust shall pay the following items:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the charges and expenses of any custodian or depository appointed by the Trust for the safekeeping of its cash, securities and other property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the charges and expenses of auditors for the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the charges and expenses of any transfer agents and registrars appointed by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) broker's commissions and issue and transfer taxes chargeable to the Trust or the Fund in connection with securities transactions to which the Trust or the Fund is a party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) all taxes and corporate fees payable by the Trust or the Fund to federal, state or other governmental agencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) the cost of stock certificates representing shares of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) compensation of the trustees of the Trust (other than trustees who are officers of the Adviser), and all expenses of Trust shareholders' and directors' meetings and of preparing, printing and mailing reports to shareholders of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) charges and expenses of legal counsel for the Trust in connection with legal matters relating to the Trust, including without limitation, legal services rendered in connection with the Trust's corporate existence, corporate and financial structure, relations with its stockholders and the issuance of securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) all other bookkeeping, administrative and operational costs, charges and expenses of the Trust, without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Fees of the Adviser</u>**

For the services and facilities to be furnished by the Adviser hereunder, the Trust shall pay the Adviser an annual fee, paid monthly, equal to 0.40% of the average daily net assets of the Fund.

The compensation for the period from the effective date hereof to the next succeeding last day of the month shall be prorated according to the proportion which such period bears to the full month ending on such date, and provided further that, upon any termination of this Agreement before the end of any month, such compensation for the period from the end of the last month ending prior to such termination to the date of termination, shall be prorated according to the proportion which such period bears to a full month, and shall be payable upon the date of termination. For the purpose of the Adviser's compensation, the value of the Fund's net assets shall be computed in the manner specified in its Declaration of Trust or By-Laws in connection with the determination of the net asset value of its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Independent Contractor</u>**

The Adviser shall, for all purposes herein, be an independent contractor and shall have no authority to act for or represent the Trust in its investment commitments unless otherwise provided. No agreement, bid, offer, commitment, contract or other engagement entered into by the Adviser whether on behalf of the Adviser or whether purported to have been entered into on behalf of the Trust shall be binding upon the Trust, and all acts authorized to be done by the Adviser under this Agreement shall be done by it as an independent contractor and not as agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Non-Exclusive Services of the Adviser</u>**

Except to the extent necessary for performance of the Adviser's obligations hereunder,

nothing shall restrict the right of the Adviser or any of its directors, officers, or employees who may be trustees, officers or employees of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business whether of a similar or dissimilar nature or to render services of any kind to any other corporation, firm, individual or association. The services of the Adviser to the Trust hereunder are not to be deemed exclusive, and the Adviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Effective Period and Termination of this Agreement</u>**

This Agreement shall become effective on December 9, 2022, and shall continue in effect if approved annually in accordance with the provisions of the Investment Company Act of 1940 (the "1940 Act") and the regulations promulgated under the 1940 Act.

This Agreement may be terminated at any time, without payment of any penalty, by the Board of Trustees of the Trust, or by a vote of a majority of the outstanding voting securities of the Trust, in either case upon not less than sixty (60) days' written notice to the Adviser, and it may be terminated by the Adviser upon sixty (60) days' written notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. <u>Assignment of Agreement Prohibited</u>**

This Agreement will automatically be terminated in the event of its assignment. It may not be transferred, assigned, sold, or in any manner hypothecated or pledged; nor may any new agreement become effective without the affirmative vote of a majority of those trustees of the Trust who are not parties to such Agreement or interested persons of any such party, and ratified by a vote of the majority of the outstanding voting securities of the Fund, provided that this limitation shall not prevent any minor amendments to the Agreement which may be required by federal or state regulatory bodies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. <u>Interested Persons</u>**

It is understood that trustees, officers, agents and stockholders of the Trust are or may be interested in the Adviser (or any successor thereof) as directors, officers, agents, stockholders or otherwise; that directors, officers, agents, and stockholders of the Adviser are or may be interested in the Trust as trustees, officers, agents, stockholders or otherwise; and that the Adviser (or any such successor) is or may be interested in the Trust as stockholder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. <u>Definitions</u>**

For the purpose of the Agreement, the terms "vote of a majority of the outstanding voting securities," "assignment," "affiliated person" and "interested person" shall have the respective meanings specified in the Investment Company Act of 1940 as now or hereafter in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. <u>Proprietary Interest of the Adviser</u>**

The parties hereto acknowledge and agree that the name "Weitz" is proprietary to and the sole and exclusive property of the Adviser. The Adviser hereby licenses the use of the name "Weitz" to the Fund for a term concurrent with the term of this Agreement. From and after a date which is one hundred eighty (180) days after the termination of this Agreement, Fund shall not do business under any name containing the word "Weitz" without the prior written consent of the Adviser.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed by their proper officers and their corporate seals to be hereunto affixed, all as of the day and year first above written.

**THE WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

President

Attest: <u>/s/ John R. Detisch</u> 

Secretary

## Ex-99

Exhibit (d)(x)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE VALUE FUND—INSTITUTIONAL CLASS SHARES**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Institutional Class of the Value Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Institutional Class shares pursuant to an Amended Administration Agreement for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the administrative servicing agent with respect to the Fund's Institutional Class shares pursuant to an Administrative Services Plan for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Institutional Class of the Fund (exclusive of brokerage costs, interest, taxes
and dividend expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.89%, as a percentage of the
average daily net assets of the Institutional Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Value Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xi)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE VALUE FUND—INVESTOR CLASS SHARES**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Investor Class of the Value Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Investor Class shares pursuant to an Amended Administration Agreement for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the administrative servicing agent with respect to the Fund's Investor Class shares pursuant to an Administrative Services Plan for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Investor Class of the Fund (exclusive of brokerage costs, interest, taxes and dividend
expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 1.09%, as a percentage of the average daily
net assets of the Investor Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Value Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xii)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE PARTNERS VALUE FUND—INSTITUTIONAL CLASS SHARES**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Institutional Class of the Partners Value Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Institutional Class shares pursuant to an Amended Administration Agreement for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the administrative servicing agent with respect to the Fund's Institutional Class shares pursuant to an Administrative Services Plan for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Institutional Class of the Fund (exclusive of brokerage costs, interest, taxes
and dividend expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.89%, as a percentage of the
average daily net assets of the Institutional Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Partners Value Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xiii)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE PARTNERS VALUE FUND—INVESTOR CLASS SHARES**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Investor Class of the Partners Value Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Investor Class shares pursuant to an Amended Administration Agreement for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the administrative servicing agent with respect to the Fund's Investor Class shares pursuant to an Administrative Services Plan for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Investor Class of the Fund (exclusive of brokerage costs, interest, taxes and dividend
expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 1.09%, as a percentage of the average daily
net assets of the Investor Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Partners Value Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xiv)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE SHORT DURATION INCOME FUND—INVESTOR CLASS SHARES**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Investor Class of the Short Duration Income Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Investor Class shares pursuant to an Amended Administration Agreement for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the administrative servicing agent with respect to the Fund's Investor Class shares pursuant to an Administrative Services Plan for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Investor Class of the Fund (exclusive of brokerage costs, interest, taxes and dividend
expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.55%, as a percentage of the average daily
net assets of the Investor Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Short Duration Income Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xv)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE SHORT DURATION INCOME FUND—INSTITUTIONAL CLASS SHARES**

**THIS AGREEMENT**, dated as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Institutional Class of the Short Duration Income Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Institutional Class shares pursuant to an Amended Administration Agreement for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the shareholder administrative servicing agent with respect to the Fund's Institutional Class shares pursuant to a Shareholder Administrative Services Plan for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Institutional Class of the Fund (exclusive of brokerage costs, interest, taxes
and dividend expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.48%, as a percentage of the
average daily net assets of the Institutional Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Short Duration Imcome Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xvi)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE ULTRA SHORT GOVERNMENT FUND<br> —INSTITUTIONAL CLASS SHARES**

**THIS AGREEMENT**, dated as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Institutional Class of the Ultra Short Government Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares of the Fund;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Institutional Class shares pursuant to an Amended Administration Agreement for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the shareholder administrative servicing agent with respect to the Fund's Institutional Class shares pursuant to a Shareholder Administrative Services Plan for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Institutional Class of the Fund (exclusive of brokerage costs, interest, taxes
and dividend expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.20%, as a percentage of the
average daily net assets of the Institutional Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Ultra Short Government Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xvii)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE CORE PLUS INCOME FUND—INSTITUTIONAL CLASS SHARES**

**THIS AGREEMENT**, dated as of December 9, 2022 is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Institutional Class of the Core Plus Income Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to a Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Institutional Class shares pursuant to a Second Amended Administration Agreement for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the shareholder administrative servicing agent with respect to the Fund's Institutional Class shares pursuant to a Shareholder Administrative Services Plan for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Institutional Class of the Fund (exclusive of brokerage costs, interest, taxes
and dividend expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.40%, as a percentage of the
average daily net assets of the Institutional Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Core Plus Income Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xviii)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE CORE PLUS INCOME FUND—INVESTOR CLASS SHARES**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Investor Class of the Core Plus Income Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to a Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Investor Class shares pursuant to an Amended Administration Agreement for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the administrative servicing agent with respect to the Fund's Investor Class shares pursuant to an Administrative Services Plan for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which at
the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Investor Class of the Fund (exclusive of brokerage costs, interest, taxes and dividend
expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.50%, as a percentage of the average daily
net assets of the Investor Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Core Plus Income Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xix)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE BALANCED FUND—INVESTOR CLASS SHARES**

**THIS AGREEMENT**, dated as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Investor Class of the Balanced Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement"); and

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Investor Class shares pursuant to an Amended Administration Agreement for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the shareholder administrative servicing agent with respect to the Fund's Investor Class shares pursuant to an Administrative Services Plan for Investor Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fee and/or reimburse other expenses (which
at the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Investor Class of the Fund (exclusive of brokerage costs, interest, taxes and divided
expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.85%, as a percentage of the average daily
net assets of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Balanced Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xx)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE BALANCED FUND—INSTITUTIONAL CLASS SHARES**

**THIS AGREEMENT**, dated as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of the Institutional Class of the Balanced Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to a Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement");

**WHEREAS**, the Trust has adopted an Amended Plan Pursuant to Rule 18f-3 Under the Investment Company Act of 1940 (the "18f-3 Plan") pursuant to which the Trust may issue Institutional Class shares and Investor Class shares of the Fund, subject to differing fees and expenses;

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund's Institutional Class shares pursuant to an Amended Administration Agreement for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Adviser has been appointed the shareholder administrative servicing agent with respect to the Fund's Institutional Class shares pursuant to an Administrative Services Plan for Institutional Class shares between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses (which
at the Adviser's discretion may be Fund Expenses and/or Class Expenses, as each term is defined in the 18f-3 Plan) to the extent
necessary to limit the total operating expenses of the Institutional Class of the Fund (exclusive of brokerage costs, interest, taxes
and dividend expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.70%, as a percentage of the
average daily net assets of the Institutional Class of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Balanced Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xxi)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE HICKORY FUND**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of its series the Hickory Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement"); and

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund pursuant to an Amended Administration Agreement between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses of the Fund
to the extent necessary to limit the total operating expenses of the Fund (exclusive of brokerage costs, interest, taxes and divided expenses,
acquired fund fees and expenses and extraordinary expenses) to an annual rate of 1.09%, as a percentage of the average daily net assets
of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Hickory Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (d)(xxii)

**EXPENSE LIMITATION AGREEMENT**

**FOR THE NEBRASKA TAX-FREE INCOME FUND**

**THIS AGREEMENT**, effective as of December 9, 2022, is made and entered into by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of its series the Nebraska Tax-Free Income Fund (the "Fund"), and Weitz Investment Management, Inc. (the "Adviser").

**WHEREAS**, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement between the Trust, on behalf of the Fund, and the Adviser (the "Advisory Agreement"); and

**WHEREAS**, the Adviser has been appointed the administrator with respect to the Fund pursuant to an Amended Administration Agreement between the Trust, on behalf of the Fund, and the Adviser; and

**WHEREAS**, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;

**NOW, THEREFORE**, the Trust and the Adviser hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Through July 31, 2023, the Adviser agrees to limit its fees and/or reimburse other expenses of the Fund
to the extent necessary to limit the total operating expenses of the Fund (exclusive of brokerage costs, interest, taxes and divided expenses,
acquired fund fees and expenses and extraordinary expenses) to an annual rate of 0.45%, as a percentage of the average daily net assets
of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer
of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Agreement may only be amended or terminated by the Trustees of the Trust.

**IN WITNESS WHEREOF**, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **THE WEITZ FUNDS** | **WEITZ INVESTMENT MANAGEMENT, INC.** |
| **on behalf of its series the** <br> **Nebraksa Tax-Free Income Fund** |  |
| By: <u>/s/ Wallace R. Weitz</u> | By: <u>/s/ James J. Boyne</u> |
| Name: <u>Wallace R. Weitz</u> | Name: <u>James J. Boyne</u> |
| Title: <u>President</u> | Title: <u>President</u> |

---

## Ex-99

Exhibit (h)(i)

**WEITZ FUNDS<br> BUSINESS ADMINISTRATION AGREEMENT**

**THIS BUSINESS ADMINISTRATION AGREEMENT** is made as of the 9<sup>th</sup> of December, 2022, by and between the Weitz Funds, a Delaware statutory trust (the "Trust"), on behalf of each of its separate investment series set forth on <u>Schedule A</u> attached hereto (the "Funds"), and Weitz Investment Management, Inc., a Nebraska corporation (the "Administrator").

**WHEREAS**, the Trust is an open-end management investment company registered with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the "1940 Act"); and

**WHEREAS**, the Administrator is an investment adviser registered with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended (the "Advisers Act"); and

**WHEREAS**, the Trust desires to avail itself of the business administration services of the Administrator for purposes of providing the Funds with necessary and appropriate management and operations; and

**WHEREAS**, the Administrator is willing to provide such services to the Trust and the Funds;

**NOW, THEREFORE**, in consideration of the terms and conditions hereinafter set forth, it is agreed by the parties hereto as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Appointment of the Administrator</u>. The Trust hereby appoints the Administrator to provide the Funds with the business administration services described herein. The Administrator hereby accepts such appointment and agrees to render the services and to assume the obligations herein set forth for the compensation herein provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Business Administration Services</u>. Subject to the direction and control of the Board of Trustees of the Trust, the Administrator hereby agrees that it shall provide the following business administration services to the Trust and the Funds, to the extent that such services are not otherwise already being provided to the Trust and the Funds by another party that has been engaged by the Trust for the provision of the subject services:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) supervising all aspects of the management and operations of the
Trust, which shall be deemed to include the monitoring of the Trust's relationships with those third-party service providers that
may be retained from time to time by the Trust, including, but not necessarily limited to, such custodians, transfer agents, distributors
(including any dealers utilized by such distributors), sub-administrators, accounting agents, dividend disbursing agents, securities lending
agents, blue sky agents, independent registered public accounting firms, law firms, and such other agents and service providers as may
be engaged to provide services to the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) providing such officers to the Trust as are deemed necessary and
appropriate for carrying out the executive functions of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) preparing reports as the Funds may request with regard
to general ledger accounts or other accounting-related matters; and (ii) verifying the accuracy and propriety of bills and invoices,
maintaining related files, and completing related tasks which may include the coordination of payment (or supervising the undertaking
of any actions referenced above);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) preparing (or supervising the preparation of) such periodic reports
to shareholders of the Funds that are required under the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) arranging for compliance by (or supervising compliance for) each
of the Funds with the recordkeeping requirements imposed under the 1940 Act and the rules and regulations thereunder, and any other applicable
federal or state laws, rules or regulations with respect to recordkeeping ;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) monitoring the Trust's compliance with the provisions of, and regulations under, the 1940 Act, including
as necessary for the Trust's compliance with Rule 38a-1 under the 1940 Act, and including either providing the Trust with (or procuring
for the Trust) the services of a Chief Compliance Officer in accordance with Rule 38a-1 (or supervising the undertaking of any actions
reference above);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) (i) coordinating audit examinations by outside auditors, including preparation of any requested audit,
income and excise tax work papers; and (ii) respond to inquiries (including the production of documents) from the SEC, FINRA and
any other governmental authority (or supervising the undertaking of any actions referenced above);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) assisting with providing necessary and appropriate services to the Board of Trustees of the Trust, including,
but not necessarily limited to, assistance with: (i) the preparation of certain Board meeting materials for use by the members of
the Board and (ii) acting as liaison with the members of the Board in order to facilitate the Board meeting and planning process
and assisting with Board management functions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) assisting with the procurement of such insurance coverage for the Trust as is required under the 1940
Act and assisting with the procurement of such insurance coverage as the Board of Trustees may deemed necessary and advisable for the
ongoing protection of the interests of the Board members and the officers of the Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) providing such other business administration services as are deemed incidental to carrying out the above
services as the Board of Trustees may request of the Administrator from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Compensation of the Administrator</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In consideration of the services to be rendered pursuant to this Agreement, the Trust, on behalf of the Funds, will pay the Administrator a fee in accordance with the terms set forth on <u>Schedule B</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Administrator should serve for less than the whole of any monthly period, its compensation shall be payable on a pro rata basis for that portion of the monthly period for which it has served as Administrator hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Services Not Exclusive</u>. The services of the Administrator hereunder are not to be deemed exclusive, and the Administrator shall be free to render similar services to others and to engage in other activities, so long as the services rendered hereunder are not impaired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Records</u>. In compliance with the requirements of Rule 3la-3 under the 1940 Act, the Administrator hereby agrees that all records, if any, which it maintains for the Funds are the property of the Funds and further agrees to surrender promptly to the Trust any such records upon the Trust's request and that all such records shall be available for inspection by the SEC. The Administrator further agrees to preserve for the periods and at the places prescribed by Rule 3la-2 under the 1940 Act the records required to be maintained by Rule 31a-1 under the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Liability of the Administrator</u>. Absent willful misfeasance, bad faith, negligence, or reckless disregard of obligations or duties hereunder on the part of the Administrator, or loss resulting from breach of fiduciary duty, the Administrator shall not be liable for any act or omission in the course of, or connected with, rendering services hereunder. Notwithstanding the foregoing, the Trust shall not be deemed to have waived any rights it may have against the Administrator under federal or state securities laws.

The Administrator shall indemnify and hold harmless the Trust (and its officers, directors and employees) from any and all claims, losses, liabilities or damages (including reasonable attorney's fees and other related expenses) arising out of or in connection with the willful misfeasance, bad faith, negligence, or reckless disregard of obligations or duties including breach of fiduciary duty, hereunder of the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Duration, Renewal, Termination and Amendment</u>. This Agreement will become effective as of July 31, 2022, provided that it shall have been approved by vote of a majority of the Trustees, including a majority of the disinterested Trustees at a meeting called for the purpose of voting on such approval, and, unless sooner terminated as provided herein, shall continue in effect until July 31, 2023.

Thereafter, if not terminated, this Agreement shall continue in effect with respect to each Fund for successive one-year periods provided such continuance is specifically approved at least annually: (a) by the vote of a majority of the disinterested Trustees and (b) by the vote of a majority of the Trust's Board of Trustees or by the vote of a majority of all votes attributable to the outstanding shares of each Fund. This Agreement may be terminated as to a Fund at any time, without payment of any penalty, by the Trust's Board of Trustees, by the Administrator, or by a vote of a majority of the outstanding voting securities of the subject Fund, upon 60 days' prior written notice to the Administrator, or by the Administrator upon 60 days' prior written notice to the Trust, or upon such shorter notice as may be mutually agreed upon by the parties.

This Agreement shall terminate automatically and immediately in the event of its assignment (as defined in the 1940 Act). No assignment of this Agreement shall be made by the Administrator without the consent of the Board of Trustees of the Trust.

This Agreement may be amended at any time by written agreement of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Severability</u>. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Miscellaneous</u>. This Agreement constitutes the full and complete agreement of the parties hereto with respect to the subject matter hereof and each party agrees to perform such further actions and execute such further documents as are necessary to effectuate the purposes hereof. To the extent not preempted by federal law, this Agreement shall be construed and enforced in accordance with and governed by the laws of the State of Delaware. This Agreement may be executed in several counterparts, all of which together shall for all purposes constitute one Agreement, binding on all parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Notices</u>. All notices and other communications hereunder shall be in writing (including email or similar writing) and shall be deemed given if delivered in person, by reputable overnight delivery service (if evidence of receipt is provided) or by electronic communication, such as email, to the parties at the following addresses (or at such other addresses as shall be specified by like notice):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if to the Trust, to:

Weitz Funds

1125 S 103<sup>rd</sup> Street, Suite 200

Omaha, NE 68124

Attention: Wallace R. Weitz, President

Email: wweitz@weitzinvestments.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if to the Administrator, to:

Weitz Investment Management, Inc.

1125 S 103<sup>rd</sup> Street, Suite 200

Omaha, NE 68124

Attention: James J. Boyne, President

Email: jboyne@weitzinvestments.com

Each such notice or other communication shall be effective when delivered to the address specified in this section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**IN WITNESS WHEREOF**, the parties have duly executed this Agreement as of the date first written above.

**WEITZ FUNDS**

By: <u>/s/ Wallace R. Weitz</u> 

Name: <u>Wallace R. Weitz</u> 

Title: <u>President</u> 

**WEITZ INVESTMENT MANAGEMENT, INC.**

By: <u>/s/ James J. Boyne</u> 

Name: <u>James J. Boyne</u> 

Title: <u>President</u> 

**<u>SCHEDULE A</u>**

To the Business Administration Agreement between

Weitz Funds and Weitz Investment Management, Inc.

<u>Name of Fund</u>

Balanced Fund

Core Plus Income Fund

Hickory Fund

Nebraska Tax-Free Income Fund

Partners III Opportunity Fund

Partners Value Fund

Short Duration Income Fund

Ultra Short Government Fund

Value Fund

As adopted by the Board of Trustees: July 31, 2022

**<u>SCHEDULE B</u>**

To the Business Administration Agreement between

Weitz Funds and Weitz Investment Management, Inc.

<u>Compensation</u>

For its services rendered under this Agreement, the Administrator shall be entitled to receive 0.03% of the average daily net assets of each Fund, computed daily and payable monthly.

## Ex-99

Exhibit (h)(iii)

**MASTER SERVICES AGREEMENT**

This Master Services Agreement (this "**Agreement**") dated March 1, 2022 is between **The Weitz Funds** (the "**Trust**"), a Delaware statutory trust, and **Ultimus Fund Solutions, LLC** ("**Ultimus**"), a limited liability company organized under the laws of the state of Ohio.

**<u>Background</u>**

The Trust is an open-end management investment company registered or to be registered under the Investment Company Act of 1940, as amended (the "**Investment Company Act**"), and it desires that Ultimus perform certain services for each of its series listed on Schedule A (as amended from time to time) (individually referred to herein as a "**Fund**" and collectively as the "**Funds**"). Ultimus is willing to perform such services on the terms and conditions set forth in this Agreement.

**<u>Terms and Conditions</u>**

1. Retention of Ultimus

The Trust retains Ultimus to act as the service provider on behalf of each Fund for the services set forth in each Addendum selected below (collectively, the "**Services**"), which are incorporated by reference into this Agreement. Ultimus accepts such employment to perform the selected Services.

☐ Fund Accounting Addendum

☐ Fund Administration Addendum

☒ Transfer Agent and Shareholder Servicing Addendum

Each selected Addendum is incorporated by reference into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.1.*** Promptly after the execution of this Agreement, the parties shall agree upon a written
project plan (the "**Conversion Plan**") that sets forth the respective roles and responsibilities of each of the parties
in connection with the process and activities required to transfer the books and records of the Trust or its prior transfer agent, import
the Trust's data and files into Ultimus' system and such other processes and activities identified as the responsibility of
Ultimus in accordance with the Conversion Plan (collectively, the "**Conversion** "). The date of completion of the Conversion
shall constitute the "**Conversion Date** ".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Allocation of Charges and Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.1.*** Ultimus shall furnish at its own expense the executive, supervisory, and clerical
personnel necessary to perform its obligations under this Agreement. Ultimus shall also pay all compensation of any officers of the Trust
who are affiliated persons of Ultimus, except when such person is serving as the Trust's chief compliance officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.2.*** The Trust, on behalf of each Fund, assumes and shall pay or cause to be paid all
other expenses of the Trust or a Fund not otherwise allocated under this Section 2, including, without limitation: organization costs;
taxes; expenses for legal and auditing services; the expenses of preparing (including typesetting), printing and mailing reports, prospectuses,
statements of additional

information, information statements, proxy statements and related materials; all expenses incurred in connection with issuing and redeeming shares; the costs of custodial services; the cost of initial and ongoing registration or qualification of the shares under federal and state securities laws; fees and reimbursable expenses of Trustees who are not affiliated persons of Ultimus or the investment adviser(s) to the Trust; insurance premiums; interest; brokerage costs; litigation and other extraordinary or nonrecurring expenses; and all fees and charges of investment advisers to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Compensation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.1.*** Commencing on the Conversion Date, the Trust, on behalf of each Fund, shall pay
for the Services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, the fee letter attached
to each addendum (each a "**Fee Letter** "), which may be amended from time to time. Each Fee Letter is incorporated by
reference into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.2.*** If the Conversion Date occurs subsequent to the first day of a month, Ultimus'
compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation
of the fees as set forth in the applicable Fee Letter. If this Agreement terminates before the last day of a month, Ultimus' compensation
for that part of the month in which the Agreement is in effect shall be equal to a full calendar month's worth of fees as calculated
in a manner consistent with the calculation of the fees as set forth in the applicable Fee Letter. The Trust shall promptly pay Ultimus'
compensation for the preceding month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.3.*** In the event that the U.S. Securities and Exchange Commission (the "**SEC** "),
Financial Industry Regulatory Authority, Inc. ()"**FINRA** "), or any other regulator or self-regulatory authority adopts
regulations and requirements relating to the payment of fees to service providers or which would result in any material increases in costs
to provide the Services under this Agreement, the parties agree to negotiate in good faith amendments to this Agreement in order to comply
with such requirements and provide for additional compensation for Ultimus as mutually agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.4.*** In the event that any fees are disputed, the Trust shall, on or before the due
date, pay all undisputed amounts due hereunder and notify Ultimus in writing of any disputed fees which it is disputing in good faith.
Payment for such disputed fees shall be due on or before the tenth (10<sup>th</sup>) business day after the day on which Ultimus provides
to the Trust documentation which reasonably supports the disputed charges, and upon final resolution of any such dispute the parties shall
make payment or give credit as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Reimbursement of Expenses

In addition to paying Ultimus the fees described in each Fee Letter, the Trust, on behalf of each Fund, agrees to reimburse Ultimus for its actual reimbursable expenses in providing services hereunder, if applicable, including, without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.1.*** Reasonable travel and lodging expenses incurred by officers and employees of Ultimus
in connection with attendance at meetings of the Trust's Board of Trustees (the "**Board**") or any committee thereof
and shareholders' meetings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.2.*** All freight and other delivery charges incurred by Ultimus in delivering materials
on behalf of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.3.*** All direct telephone, telephone transmission and telecopy or other electronic transmission
expenses incurred by Ultimus in communication with the Trust, the Trust's investment adviser(s) or custodian, counsel for the Trust
or a Fund, counsel for the Trust's independent Trustees, the Trust's independent accountants, dealers or others as required
for Ultimus to perform the Services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.4.*** The cost of obtaining secondary security market quotes and any securities data,
including, but not limited to, the cost of fair valuation services and the cost of obtaining corporate action related data and securities
master data;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.5.*** The cost of electronic or other methods of storing records and materials;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.6.*** All fees and expenses incurred in connection with any licensing of software, subscriptions
to databases, custom programming or systems modifications required to provide any special reports or services requested by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.7.*** Any expenses Ultimus shall incur at the direction of an officer of the Trust thereunto
duly authorized other than an employee or other affiliated person of Ultimus who may otherwise be named as an authorized representative
of the Trust for certain purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.8.*** A reasonable allocation of the costs associated with the preparation of Ultimus'
Service Organization Control 1 Reports ()"**SOC 1 Reports** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.9.*** A reasonable allocation of the cost of GainsKeeper<sup>®</sup> software, used
by Ultimus to track wash loss deferrals for both fiscal (855) and excise tax provisioning; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.10.*** Any additional expenses reasonably incurred by Ultimus in the performance of its
duties and obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Maintenance of Books and Records; Record Retention

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.1.*** Ultimus shall maintain and keep current the accounts, books, records and other
documents relating to the Services as may be required by applicable law, rules, and regulations, including Federal Securities Laws as
defined under Rule 38a-1 under the Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Ownership of Records

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Ultimus agrees that all such books, records, and other data (except computer programs
and procedures) developed to perform the Services (collectively, "**Client Records**") shall be the property of the Trust
or Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Ultimus agrees to provide the Client Records to the Trust or a Fund, at the expense
of the Trust or Fund, upon reasonable request, and to make such books and records available for inspection by the Trust, a Fund, or its
regulators at reasonable times.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* Ultimus agrees to furnish to the Trust or a Fund, at the expense of the Trust or
Fund, all Client Records in the electronic or other medium in which such material is then maintained by Ultimus as soon as practicable
after any termination of this Agreement. Unless otherwise required by applicable law, rules, or regulations, Ultimus shall promptly turn
over to the Trust or Fund or, upon the written request of the Trust or Fund, destroy the Client Records maintained by Ultimus pursuant
to this Agreement. If Ultimus is required by applicable law, rule, or regulation to maintain any Client Records, it will provide the Trust
or Fund with copies as soon as reasonably practical after the termination. For all records and copies, if the Trust reasonably requests
information in a different format, and pays Ultimus' reasonable, additional expenses for such format, then Ultimus shall provide
such information in such format.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.3.*** Ultimus agrees to keep confidential all Client Records, except when requested to
divulge such information by duly constituted authorities or court process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.4.*** If Ultimus is requested or required to divulge such information by duly constituted
authorities or court process, Ultimus shall, unless prohibited by law, promptly notify the Trust or Fund of such request(s) so that the
Trust or Fund may seek, at the expense of the Trust or Fund, an appropriate protective order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Subcontracting

Ultimus may, at its expense, and with notice to the Trust, subcontract with any entity or person concerning the provision of the Services; provided, however, that Ultimus shall not be relieved of any of its obligations under this Agreement by the appointment of such subcontractor, and that Ultimus shall be responsible, to the extent provided in Section 10, for all acts of a subcontractor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Effective Date

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***7.1.*** This Agreement shall become effective as of the date first above written with respect
to each Fund in existence on such date (or, if a particular Fund is not in existence on that date, on the date such Fund commences operation)
(the "**Agreement Effective Date** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***7.2.*** Each Addendum shall become effective as of the date first written in the Addendum
with respect to each Fund in existence on such date (or, if a particular Fund is not in existence on that date, on the date such Fund
commences operation).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Term

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.1.***  ***Initial Term.*** This Agreement shall continue in effect, unless earlier
terminated by either party as provided under this Section 8, for a period of five (5) years from the date first above written (the "**Initial Term** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.2.***  ***Renewal Terms.*** Immediately following the Initial Term this Agreement
shall automatically renew for successive one-year periods (a "**Renewal Term** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.3.***  ***Termination.*** A party may terminate this Agreement under the following circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* *Termination for Good Cause.* During the Initial Term or a Renewal Term, a
party (the "**Terminating Party**") may only terminate the Agreement against the other party (the "**Non-Terminating Party"**) for good cause. For purposes of this Agreement, "**good cause**" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) a material breach of this Agreement by the Non-Terminating Party that has not been
cured or remedied within 30 days after the Non-Terminating Party receives written notice of such breach from the Terminating Party;

The parties agree that material breach of this Agreement shall include, without limitation, any gross negligence with regard to, or failure to satisfy, any performance standard or standard of care set forth in this Agreement or in any appendices or addendums thereto, willful misfeasance, bad faith, gross negligence in the performance of a party's duties; or reckless disregard of a party's obligations and duties hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Non-Terminating Party takes a position regarding compliance with Federal Securities
Laws that the Terminating Party reasonably disagrees with, the Terminating Party provides 30 days' prior written notice of such
disagreement, and the parties fail to come to agreement on the position within the 30 day notice period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a final and unappealable judicial, regulatory, or administrative ruling or order
in which the Non-Terminating Party has been found guilty of criminal or unethical behavior in the conduct of its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the authorization or commencement of, or involvement by way of pleading, answer,
consent, or acquiescence in, a voluntary or involuntary case under the Bankruptcy Code of the United States Code, as then in effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) with regard to either party, any business combination, merger or other transaction
that results in the assignment to another entity of the party's rights and interest in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* *Out-of-Scope Termination.* If a Trust or Fund demands services that are beyond
the scope of this Agreement and any incorporated Addendum, and the parties cannot agree on appropriate terms relating to such out-of-scope
services, Ultimus may terminate this Agreement upon 60 days' prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* *End-of-Term Termination.* A party can terminate this Agreement at the end
of the Initial Term or a Renewal Term by providing written notice of termination to the other party at least 150 days prior to the end
of the Initial Term or then-current Renewal Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* *Early Termination.* Any termination by the Trust or Fund other than termination
under Section 8.3.A-C is deemed an "**Early Termination.**" The Trust or Fund that provides a notice of early termination
is subject to an "**Early Termination Fee**" equal to the pro rated fee amount due to Ultimus through the end of the then-current
term as calculated in the applicable Fee Letter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* *Final Payment*. Any unpaid compensation, reimbursement of expenses, or Early
Termination Fee is due to Ultimus within 15 calendar days of the termination date provided in the notice of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*F.* *Transition.* Upon termination of this Agreement, Ultimus will cooperate with
any reasonable request of the Trust to effect a prompt transition to a new service provider selected by the Trust. Ultimus shall be entitled
to collect from the Trust, in addition to the compensation described in each applicable Fee Letter, (1) the amount of all of Ultimus'
cash disbursements reasonably made for services in connection with Ultimus' activities in effecting such termination, including,
without limitation, the delivery to the Trust or its designees of the Trust's property, records, instruments, and documents, and
(2) a reasonable de-conversion fee as mutually agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*G.* *Liquidation.* Upon termination of this Agreement due to the liquidation of
the Trust or a Fund, Ultimus shall be entitled to collect from the Trust, in addition to the compensation described in each applicable
Fee Letter, (1) the amount of all of Ultimus' cash disbursements reasonably made for services in connection with Ultimus'
activities in effecting such termination, including, without limitation, the delivery to the Trust or its designees of the Trust's
property, records, instruments, and documents, and (2) a reasonable liquidation fee as mutually agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.4.***  ***No Waiver.*** Failure by either party to terminate this Agreement for
a particular cause shall not constitute a waiver of its right to subsequently terminate this Agreement for the same or any other cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Additional Funds or Classes of Shares

In the event that the Trust establishes one or more series or classes of shares after the Agreement Effective Date, each such series or class of shares shall become, at the discretion of the Trust and Ultimus, which shall not be unreasonably withheld, a Fund or class of shares of a Fund (as applicable) under this Agreement and shall be added to Schedule A and the applicable Fee Letter(s) as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Standard of Care; Limits of Liability; Indemnification

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.1.***  ***Standard of Care.*** Each party's duties are limited to those expressly
set forth in this Agreement and the parties do not assume any implied duties. Each party shall use its best efforts in the performance
of its duties and act in good faith in performing the Services or its obligations under this Agreement. Each party shall be liable for
any damages, losses or costs arising directly or indirectly out of such party's failure to perform its duties under this Agreement
to the extent such damages, losses or costs arise directly or indirectly out of its willful misfeasance, bad faith, gross negligence in
the performance of its duties, or reckless disregard of its obligations and duties hereunder; provided, however, that the Trust shall
have no liability for failure to perform its duties hereunder to the extent such failure was the result of the actions or inactions of
an employee or other affiliated person of Ultimus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2. Limits of Liability

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Ultimus shall not be liable for any Losses (as defined below) arising from the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) performing Services or duties pursuant to any oral, written, or electric instruction,
notice, request, record, order, document, report, resolution, certificate, consent, data, authorization, instrument, or item of any kind
that Ultimus reasonably believes to be genuine and to have been signed, presented, or furnished by a duly authorized representative of
the Trust or any Fund (other than an employee or other affiliated persons of Ultimus who may otherwise be named as an authorized representative
of the Trust for certain purposes);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) operating under its own initiative, in good faith and in accordance with the standard
of care set forth herein, in performing its duties or the Services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) using valuation information provided by the Trust's approved third-party pricing
service(s) or the investment adviser(s) to the Fund for the purpose of valuing a Fund's portfolio holdings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) any default, damages, costs, loss of data or documents, errors, delay, or other
loss whatsoever caused by events beyond Ultimus' reasonable control, including, without limitation, corrupt, faulty or inaccurate
data provided to Ultimus by third- parties (other than for data provided by third parties selected by Ultimus, which data Ultimus reasonably
should have known was inaccurate);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) any error, action or omission by the Trust or other past or current service provider; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) any failure to properly register any Fund's shares in accordance with the
Securities Act of 1933, as amended (the "**Securities Act**") or any state blue sky laws (except to the extent such failure
results from Ultimus' failure to follow instructions from the Trust in a manner that violates the standard of care set forth in
Section 10.1).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Ultimus may apply to the Trust at any time for instructions and may consult with
counsel for the Trust or a Fund, counsel for the Trust's independent Trustees, and with accountants and other experts with respect
to any matter arising in connection with Ultimus' duties or the Services. Ultimus shall not be liable or accountable for any action taken
or omitted by it in good faith in accordance with such instruction or with the reasonable opinion of such counsel, accountants, or other
experts qualified to render such opinion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* A copy of the Trust's Declaration of Trust (the "**Declaration of Trust**") is on file with the Secretary of State (or equivalent authority) of the state in which the Trust is organized, and notice
is hereby given that this instrument is executed on behalf of the Trust and not the Trustees individually and that the obligations of
this instrument are not binding upon any of the Trustees, officers or shareholders individually but are binding only upon the assets and
property of the Trust (or if the matter relates only to a particular Fund, that Fund), and Ultimus shall look only to the assets of the
Trust (or the particular Fund, as applicable), for the satisfaction of such obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* Ultimus shall not be held to have notice of any change of authority of any officer,
agent, representative or employee of the Trust or any Fund, the Trust's or any Fund's investment adviser or any of the Trust's
or Fund's other service providers until receipt of written notice thereof from the Trust or Fund (as applicable). As used in this
Agreement, the term "**investment adviser**" includes all sub-advisers or persons performing similar services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* The Board has and retains primary responsibility for oversight of all compliance
matters relating to the Funds, including, but not limited to, compliance with the Investment Company Act, the Internal Revenue Code of
1986, as amended (the "**Internal Revenue Code** "), the USA PATRIOT Act of 2001, the Sarbanes Oxley Act of 2002 and the
policies and limitations of each Fund relating to the portfolio investments as set forth in the prospectus and statement of additional
information. Ultimus' monitoring and other functions hereunder shall not relieve the Board of its primary day-to-day responsibility
for overseeing such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*F.* To the maximum extent permitted by law, the Trust agrees to limit Ultimus'
liability for the Trust's Losses (as defined below) to an amount that shall not exceed the total compensation received by Ultimus
under this Agreement during the most recent rolling 12- month period or the actual time period this Agreement has been in effect if less
than 12 months. This limitation shall apply regardless of the cause of action or legal theory asserted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*G.* In no event shall Ultimus be liable for trading losses, lost revenues, special,
incidental, punitive, indirect, consequential or exemplary damages or lost profits, whether or not such damages were foreseeable or Ultimus
was advised of the possibility thereof. Ultimus shall not be liable for any corrupt, faulty or inaccurate data provided to Ultimus by
any third-parties for use in delivering Ultimus' Services to the Trust or a Fund and Ultimus shall have no duty to independently
verify and confirm the accuracy of third-party data (other than for data provided by third parties selected by Ultimus, which data Ultimus
reasonably should have known was inaccurate). The

**parties acknowledge that the other parts of this Agreement are premised upon the limitation stated in this section.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3. Indemnification

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Each party (the "**Indemnifying Party**") agrees to indemnify, defend,
and protect the other party, including its trustees, directors, managers, officers, employees, and other agents (collectively, the "**Indemnitees** "
and each an "**Indemnitee** "), and shall hold the Indemnitees harmless from and against any actions, suits, claims, losses,
damages, liabilities, and reasonable costs, charges, and expenses (including attorney fees and investigation expenses) (collectively,
" **Losses**") arising directly or indirectly out of (1) the Indemnifying Party's failure to exercise the standard
of care set forth above unless such Losses were caused in part by the Indemnitees' own willful misfeasance, bad faith or gross negligence;
(2) any violation of Applicable Law (defined below) by the Indemnifying Party or its affiliated persons or agents relating to this Agreement
and the activities thereunder; and (3) any material breach by the Indemnifying Party or its affiliated persons or agents of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Notwithstanding the foregoing provisions, the Trust or Fund shall indemnify Ultimus
for Ultimus' Losses arising from circumstances under Section 10.2.A, other than under Section 10.2.A(2), provided, however, that
the Trust shall not have any obligation to indemnify Ultimus hereunder for Losses caused in part by Ultimus' willing misfeasance,
bad faith or gross negligence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* Upon the assertion of a claim for which either party may be required to indemnify
the other, the Indemnitee shall promptly notify the Indemnifying Party of such assertion and shall keep the Indemnifying Party advised
with respect to all developments concerning such claim. Notwithstanding the foregoing, the failure of the Indemnitee to timely notify
the Indemnifying Party shall not relieve the Indemnifying Party of its indemnification obligations hereunder except to the extent that
the Indemnifying Party is materially prejudiced by such failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* The Indemnifying Party shall have the option to participate with the Indemnitee
in the defense of such claim or to defend against said claim in its own name or in the name of the Indemnitee. The Indemnitee shall in
no case confess any claim or make any compromise in any case in which the Indemnifying Party may be required to indemnify the Indemnitee
except with the Indemnifying Party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.4.*** The provisions of this Section 10 shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Force Majeure.

Neither party will be liable for Losses, loss of data, delay of Services, or any other issues caused by events beyond its reasonable control, including, without limitation, delays by third party vendors and/or communications carriers, acts of civil or military authority, national emergencies, labor difficulties, fire, flood, catastrophe, acts of God, insurrection, war, riots, pandemics, failure of the mails, transportation, communication, or power supply, provided,

with respect to Ultimus, that Ultimus minimizes the amount of any Losses to the Trust by, without limitation, using, implementing, and acting consistently with DRBCP (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Representations and Warranties

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***12.1. Joint Representations.*** Each party represents and warrants, which representations and warranties shall be deemed to be continuing throughout the term of this Agreement, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* It is a corporation, partnership, trust, or other entity duly organized and validly
existing in good standing under the laws of the jurisdiction in which it is organized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* To the extent required by Applicable Law (defined below), it is duly registered
with all appropriate regulatory agencies or self-regulatory organizations and such registration will remain in full force and effect for
the duration of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* For the duties and responsibilities under this Agreement, it is currently and will
continue to abide by all applicable federal and state laws, including, without limitation, federal and state securities laws; regulations,
rules, and interpretations of the SEC and its authorized regulatory agencies and organizations, including FINRA; and all other self-regulatory
organizations governing the transactions contemplated under this Agreement (collectively, "**Applicable Law** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* It has duly authorized the execution and delivery of this Agreement and the performance
of the transactions, duties, and responsibilities contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(E)* This Agreement constitutes a legal obligation of the party, subject to bankruptcy,
insolvency, reorganization, moratorium, and other laws of general application affecting the rights and remedies of creditors and secured
parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(F)* Whenever, in the course of performing its duties under this Agreement, it determines
that a violation of Applicable Law has occurred, or that, to its knowledge, a possible violation of Applicable Law may have occurred,
or with the passage of time could occur, it shall promptly notify the other party of such violation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***12.2. Representations of the Trust.*** The Trust represents and warrants, which representations and warranties shall be deemed to be continuing throughout the term of this Agreement, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* (1) as of the close of business on the Agreement Effective Date, each Fund that
is then in existence has authorized unlimited shares, and (2) no shares of any Fund will be offered to the public until the Trust's
registration statement under the Securities Act and the Investment Company Act, has been declared or becomes effective and all required
state securities law filings have been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* It shall cause the investment adviser(s) and sub-advisers, prime broker, custodian,
legal counsel, independent accountants, and other service providers and agents, past or present, for each Fund to cooperate with Ultimus
and to provide it with such information,

documents, and advice relating to the Fund as appropriate or requested by Ultimus, in order to enable Ultimus to perform its duties and obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* The Trust's Agreement and Declaration of Trust, Bylaws, registration statement
and each Fund's organizational documents, and prospectus are true and accurate and will remain true and accurate at all times during
the term of this Agreement in conformance with applicable federal and state securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* Each of the employees of Ultimus that serves or has served at any time as an officer
of the Trust, including the CCO, President, Treasurer, Secretary and the AML Compliance Officer, shall be covered by the Trust's
Directors & Officers/Errors & Omissions insurance policy (the "**Policy**") and shall be subject to the provisions
of the Trust's Declaration of Trust and Bylaws regarding indemnification of its officers. The Trust shall provide Ultimus with proof
of current coverage, including a copy of the Policy, and shall notify Ultimus immediately should the Policy be canceled or terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(E)* Any officer of the Trust shall be considered an individual who is authorized to
provide Ultimus with instructions and requests on behalf of the Trust (an "**Authorized Person**") (unless such authority
is limited in a writing from the Trust and received by Ultimus) and who has the authority to appoint additional Authorized Persons, to
limit or revoke the authority of any previously designated Authorized Person, and to certify to Ultimus the names of the Authorized Persons
from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***12.3 Representations and Covenants of Ultimus.*** Ultimus represents, warrants and covenants, which representations, warranties and covenants shall be deemed to be continuing throughout the term of this Agreement, that: (A) It will maintain compliance policies and procedures (a "**Compliance Program**") that are reasonably designed to prevent violations of the Federal Securities Laws (as defined in Rule 38a-1 of the Investment Company Act) with respect to Ultimus' services under this Agreement, and will provide the Trust with such materials with respect to its Compliance Program as the Trust may reasonably request. Ultimus will also take such actions as the Trust may reasonably request in connection with the Trust's compliance with Rule 38a-1, Rule 38a-2 or any other requirement of the Federal Securities Laws or such other laws referenced in Section 15 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) It shall develop and maintain a plan for recovery from force majeure events consistent with the plan then generally in effect across Ultimus' client base (the "**DRBCP**"). During the term of this Agreement, the DRBCP shall not be modified in a manner that would be reasonably likely to impair the responsiveness of Ultimus or the implementation of such DRBCP, or to materially reduce Ultimus' business continuity or preparation for a disaster recovery event (including as to testing and reporting). (C) It will promptly notify the Trust in writing if it: (i) is served with or otherwise receives a formal notice of investigation from a regulatory body with jurisdiction over Ultimus; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) receives a judgment with respect to any regulatory matter before or by any court, public board or body (including, without limitation, federal or state regulators) (an "**Oversight Body**"); which in the case of (i) or (ii) relates in any manner to the Services provided to the Trust hereunder; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) receives a deficiency letter from an Oversight Body citing Ultimus for violations of any applicable laws (each such notice of investigation, final judgment or deficiency letter, a "**Regulatory Notice**"). Ultimus will, no later than the next meeting of the Trust's Board, provide the Trust with a written summary of material legal matters in such Regulatory Notice and, to the

extent applicable, Ultimus' response(s) thereto. In responding to any requests from an Oversight Body, Ultimus will take reasonable steps to maintain the confidentiality of any Confidential Information (defined below) of the Trust provided to the Oversight Body (*e.g.*, requesting confidentiality pursuant to appropriate provisions under the Freedom of Information Act and similar acts or laws), and will maintain and provide to the Trust on request copies of any records provided to an Oversight Body pertaining to the Trust, unless such disclosure would constitute a violation of applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Insurance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.1.***  ***Maintenance of Insurance Coverage.*** Each party agrees to maintain throughout
the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon
request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that
it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.2.***  ***Notice of Termination.*** A party shall promptly notify the other party
should any of the notifying party's insurance coverage be canceled or reduced. Such notification shall include the date of change
and the reasons therefore.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Information Provided by the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14.1.***  ***Prior to the Agreement Effective Date.*** Prior to the Agreement Effective
Date, the Trust will furnish to Ultimus the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* copies of the Declaration of Trust and of any amendments thereto, certified by
the proper official of the state in which such document has been filed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* the Trust's Bylaws and any amendments thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* certified copies of resolutions of the Board covering the approval of this Agreement,
authorization of a specified officer of the Trust to execute and deliver this Agreement and authorization for specified officers of the
Trust to instruct Ultimus thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* a list of all the officers of the Trust, together with specimen signatures of those
officers who are authorized to instruct Ultimus in all matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(E)* the Trust's registration statement and all amendments thereto filed with
the SEC pursuant to the Securities Act and the Investment Company Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(F)* the Trust's notification of registration under the Investment Company Act
on Form N-8A as filed with the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(G)* the Trust's current prospectus and statement of additional information for each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(H)* an accurate, current list of shareholders of each existing series of the Trust,
if applicable, showing each shareholder's address of record, number of shares owned and whether such shares are represented by outstanding
share certificates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(I)* copies of the current plan of distribution adopted by the Trust under Rule 12b-1
under the Investment Company Act for each Fund, if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(J)* copies of the current investment advisory agreement and current investment sub-advisory
agreement(s), if applicable, for each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(K)* copies of the current underwriting agreement for each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(L)* contact information for each Fund's service providers, including, but not
limited to, the Fund's administrator, custodian, transfer agent, independent accountants, legal counsel, underwriter and chief compliance
officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(M)* a copy of procedures adopted by the Trust in accordance with Rule 38a-1 under the
Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14.2.***  ***After the Agreement Effective Date.*** After the Agreement Effective
Date, the Trust will furnish to Ultimus any amendments to the items listed in Section 14.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Compliance with Law

The Trust assumes full responsibility for the preparation, contents, and distribution of each prospectus of a Fund and further agrees to comply with all applicable requirements of the Federal Securities Laws and any other laws, rules and regulations of governmental authorities having jurisdiction over the Trust or a Fund, including, but not limited to, the Internal Revenue Code, the USA PATRIOT Act of 2001, and the Sarbanes-Oxley Act of 2002, each as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Confidentiality

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.1.***  ***Definition of Confidential Information.*** The term "**Confidential Information**" shall mean all information that either party discloses (a "**Disclosing Party**") to the other party
(a "**Receiving Party** "), whether in writing, electronically, or orally and in any form (tangible or intangible), that
is confidential, proprietary, or relates to clients or shareholders (each either existing or potential). Confidential Information includes,
but is not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* any information concerning technology, such as systems, source code, databases,
hardware, software, programs, applications, engaging protocols, routines, models, displays, and manuals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* any unpublished information concerning research activities and plans, customers,
clients, shareholders, strategies and plans, costs, operational techniques; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* any unpublished financial information, including information concerning revenues,
profits and profit margins, and costs or expenses.

Confidential Information is deemed confidential and proprietary to the Disclosing Party regardless of whether such information was disclosed intentionally or unintentionally, or marked appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2. Treatment of Confidential Information

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* Each party agrees that at all times during and after the terms of this Agreement,
it shall use, handle, collect, maintain, and safeguard Confidential Information in accordance with (1) the confidentiality and non-disclosure
requirements of this Agreement and (2) such other Applicable Law, whether in effect now or in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* Without limiting the foregoing, the Receiving Party shall apply to any Confidential
Information at least the same degree of reasonable care used for its own confidential and proprietary information to avoid unauthorized
disclosure or use of Confidential Information under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* Each party further agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Receiving Party will hold all Confidential Information it obtains in strictest
confidence and will use and permit use of Confidential Information solely for the purposes of this Agreement or as otherwise provided
for in this Agreement, and consistent therewith, may disclose or provide access to its responsible employees or agents who have a need
to know and are under adequate confidentiality agreements or arrangements and make copies of Confidential Information to the extent reasonably
necessary to carry out its obligations under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Notwithstanding the foregoing, the Receiving Party may release Confidential Information
as permitted or required by law or approved in writing by the Disclosing party, which approval shall not be unreasonably withheld and
may not be withheld where the Receiving Party may be exposed to civil or criminal liability or proceedings for failure to release such
information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Additionally, Ultimus may provide Confidential Information typically supplied in
the investment company industry to companies that track or report price, performance or other information regarding investment companies;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The Receiving Party will immediately notify the Disclosing Party of any unauthorized
disclosure or use and will cooperate with the Disclosing Party to protect all proprietary rights in any Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.3.***  ***Severability.*** This provision and the obligations under this Section
16 shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Privacy and Data Security

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17.1.***  ***Definition of Customer Information.*** Any Customer Information will
remain the sole and exclusive property of the Trust. "**Customer Information**" shall mean all non-public information as
defined by Gramm-Leach-Bliley Act of 1999, as amended, and its implementing regulations (*e.g.*, SEC Regulation S-P and Federal Reserve
Board Regulation P) (collectively, the "**GLB Act** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17.2***  ***Definition of Personal Information.*** Any Customer Information and all
information identifying, or that alone or in combination with other information allows for the identification of an individual, that Ultimus
processes on behalf of the Trust or any of the Funds for purposes of providing the Services under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17.3*** Ultimus agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Ultimus and its employees and permitted contractors and service providers shall
use Personal Information solely for the purpose of providing the Services under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Ultimus will adhere to the privacy policies adopted by the Funds pursuant to GLB
Act, as may be modified from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Ultimus shall have in place and maintain physical, electronic and procedural safeguards
reasonably designed to protect the security, confidentiality and integrity of, and to prevent unauthorized access to or use of Personal
Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Ultimus has implemented and will maintain an effective written information security
program reasonably designed to protect Personal Information, which program includes sufficient administrative, technical and physical
safeguards and written policies and procedures reasonably designed to (a) insure the security and confidentiality of such Personal Information;
(b) protect against any anticipated threats or hazards to the security or integrity of such Personal Information, including identity theft;
and (c) protect against unauthorized access to or use of such Personal Information (the "**Information Security Program** ").
The Information Security Program complies and shall comply with reasonable information security practices within the industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Ultimus shall promptly notify the Trust in writing of any breach of security, misuse
or misappropriation of, or unauthorized access to or acquisition of any Personal Information (any or all of the foregoing referred to
individually and collectively for purposes of this provision as a "**Security Breach** "). Ultimus shall, at its sole cost
and expense, promptly investigate and remedy any Security Breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) In addition to, and without limiting the foregoing, Ultimus will promptly cooperate
with the Trust, the Funds and any of their affiliates as well as each of

their respective regulators to prevent, investigate, cease or mitigate any Security Breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Notwithstanding the foregoing, Ultimus will not share any Customer Information with
any third-parties unless expressly directed in writing by the Trust or the respective Fund or otherwise allowed under one of the exceptions
noted under the GLB Act. In such case Ultimus shall ensure that any subcontract includes confidentiality, privacy and security obligations
that are no less stringent than those applicable to Ultimus in this Agreement and which at all times require compliance with the GLB Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17.4***  ***Severability.*** This provision and the obligations under this Section
17 shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Press Release

Within the first 60 days following the Agreement Effective Date, the Trust agrees to review in good faith a press release (in any format or medium) announcing the Agreement with Ultimus; provided that Ultimus must obtain the Trust's written consent prior to publication of such release, which consent shall not be unreasonably denied by the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Non-Exclusivity

The services of Ultimus rendered to the Trust are not deemed to be exclusive. Except to the extent necessary to perform Ultimus' obligations under this Agreement, nothing herein shall be deemed to limit or restrict Ultimus' right, or the right of any of Ultimus' managers, officers or employees who also may be a trustee, officer or employee of the Trust, or persons who are otherwise affiliated persons of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business, whether of a similar or dissimilar nature, or to render services of any kind to any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Arbitration

Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by arbitration in Omaha, Nebraska, according to the Commercial Arbitration Rules of the American Arbitration Association, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

This arbitration provision shall be enforced and interpreted exclusively in accordance with applicable federal law, including the Federal Arbitration Act. Any costs, fees, or taxes involved in enforcing the award shall be fully assessed against and paid by the party resisting enforcement of said award. The prevailing party shall also be entitled to an award of reasonable attorneys' fees and costs incurred in connection with the enforcement of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. Notices

Any notice provided under this Agreement shall be sufficiently given when either delivered personally by hand or received by electronic mail, overnight delivery, or certified mail at the following address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1. If to the Trust:

 ****

The Weitz Funds

1125 South 103rd Street, Suite 200

Omaha, NE 68124-1071

Attn: General Counsel

Email: jdetisch@weitzinvestments.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2. If to Ultimus:

 ****

Ultimus Fund Solutions, LLC

Attn: General Counsel

4221 North 203<sup>rd</sup> Street, Suite 100

Elkhorn, NE 68022

Email: legal@ultimusfundsolutions.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. General Provisions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.1.***  ***Incorporation by Reference.*** This Agreement and its addendums, schedules,
exhibits, and other documents incorporated by reference express the entire understanding of the parties and supersede any other agreement
between them relating to the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.2.***  ***Conflicts.*** In the event of any conflict between this Agreement and
any Appendices or Addendum thereto, this Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.3.***  ***Amendments.*** The parties may only amend or waive all or part of this
Agreement by written amendment or waiver signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.4. Assignments.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* Except as provided in this Section 22.4, this Agreement and the rights and duties
hereunder shall not be assignable by either of the parties except by the specific written consent of the non-assigning party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* The terms and provisions of this Agreement shall become automatically applicable
to any investment company that is the successor to the Trust because of reorganization, recapitalization, or change of domicile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* This Agreement shall be binding upon, and shall inure to the benefit of, the parties
and their respective successors and permitted assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.5.***  ***Governing Law.*** This Agreement shall be construed in accordance with
the laws of the state of Ohio and the applicable provisions of the Investment Company Act. To the extent that the applicable laws of the
state of Ohio, or any of the provisions herein, conflict with the applicable provisions of the Investment Company Act, the latter shall
control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.6.***  ***Headings.*** Section and paragraph headings in this Agreement are included
for convenience only and are not to be used to construe or interpret this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.7.***  ***Multiple Counterparts.*** This Agreement may be executed in two or more
counterparts, each of which when executed shall be deemed to be an original, but such counterparts shall together constitute but one and
the same instrument. A signed copy of this Agreement delivered by email or other means of electronic transmission will be deemed to have
the same legal effect as delivery of an original, signed copy of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.8.***  ***Severability.*** If any part, term or provision of this Agreement is
held to be illegal, in conflict with any law or otherwise invalid, the remaining portion or portions shall be considered severable and
not be affected by such determination, and the rights and obligations of the parties shall be construed and enforced as if the Agreement
did not contain the particular part, term or provisions held to be illegal or invalid.

**Signatures are located on the next page.**

The parties duly executed this Agreement as of March 1, 2022.

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**The Weitz Funds** |  | &nbsp;&nbsp;**Ultimus Fund Solutions, LLC** |
| <br> By: | <br>/s/James J. Boyne | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> By: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>/s/Gary Tenkman |
| Name: | &nbsp;&nbsp;James J. Boyne | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: | &nbsp;&nbsp;Gary Tenkman |
| Title: | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: | &nbsp;&nbsp;Chief Executive Officer |

---

**SCHEDULE A**

**to the**

**Master Services Agreement between**

**The Weitz Funds and**

**Ultimus Fund Solutions, LLC dated March 1, 2022**

**<u>Fund Portfolio(s)</u>**

Balanced Fund

Core Plus Income Fund

Hickory Fund

Nebraska Tax-Free Income Fund

Partners III Opportunity Fund

Partners Value Fund

Short Duration Income Fund

Ultra Short Government Fund

Value Fund

**<u>Transfer Agent and Shareholder Services Addendum</u>** 

**for**

**The Weitz Funds**

This Transfer Agent and Shareholder Services Addendum, dated March 1, 2022, is between **The Weitz Funds** (the "**Trust**"), on its own behalf and on behalf of the Funds listed on Schedule A to that certain Master Services Agreement, dated March 1, 2022, and **Ultimus Fund Solutions, LLC** ("**Ultimus**")**.** Capitalized terms used but not defined herein shall have the meanings set forth in the Master Services Agreement.

**<u>Transfer Agent and Shareholder Services</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Shareholder Transactions

Ultimus shall provide the Trust with shareholder transaction services, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.1.*** process shareholder purchase, redemption, exchange, and transfer orders in accordance
with conditions set forth in the applicable Fund's prospectus(es) applying all applicable redemption or other miscellaneous fees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.2.*** set up of account information, including address, account designations, dividend
and capital gains options, taxpayer identification numbers, banking instructions, automatic investment plans, systematic withdrawal plans
and cost basis disposition method,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.3.*** assist shareholders making changes to their account information included in 1.2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.4.*** issue trade confirmations in compliance with Rule 10b-10 under the Securities Exchange
Act of 1934, as amended (the "**1934 Act** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.5.*** issue quarterly statements for shareholders, interested parties, broker firms, branch
offices and registered representatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.6.*** act as a service agent and process income dividend and capital gains distributions,
including the purchase of new shares, through dividend reimbursement and appropriate application of backup withholding, non-resident alien
withholding and Foreign Account Tax Compliance Act ()"**FATCA**") withholding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.7.*** record the issuance of shares and maintain pursuant to Rule 17Ad-10(e) of the 1934
Act a record of the total number of shares of each Fund which are authorized, based upon data provided to it by the Trust, and issued
and outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.8.*** perform such services as are required to comply with Rules 17a-24 and 17Ad-17 of
the 1934 Act (the "**Lost Shareholder Rules** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.9.*** provide cost basis reporting to shareholders on covered shares (shares purchased
after 1/1/2012), as required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.10.*** withholding taxes on non-resident alien accounts, pension accounts and in accordance
with state requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.11.*** produce, print, mail and file U.S. Treasury Department Forms 1099 and other appropriate
forms required by federal authorities with respect to distributions for shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.12.*** administer and perform all other customary services of a transfer agent, including,
but not limited to, answering routine customer inquiries regarding shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.13.*** process all standing instruction orders (Automatic Investment Plans ()"**AIPs** ")
and Systematic Withdrawal Plan ()"**SWPs** ")) including the debit of shareholder bank information for automatic purchases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Shareholder Information Services

Ultimus shall provide the Trust with shareholder information services, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.1.*** make information available to shareholder servicing unit and other remote access
units regarding trade date, share price, current holdings, yields, and dividend information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.2.*** produce detailed history of transactions through duplicate or special order statements upon request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.3.*** provide mailing labels for distribution of financial reports, prospectuses, proxy
statements or marketing material to current shareholders; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.4.*** respond as appropriate to all inquiries and communications from shareholders relating
to shareholder accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Compliance Reporting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.1.***  ***AML Reporting.*** Ultimus agrees to provide anti-money laundering services
to the Trust's direct shareholders and to operate the Trust's customer identification program for these shareholders, in each
case in accordance with the written procedures developed by Ultimus and adopted or approved by the Trust's Board of Trustees (the
" **Board**") and with applicable law and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.2.***  ***Regulatory Reporting.*** Ultimus agrees to provide reports to the federal
and applicable state authorities, including the SEC, and to the Funds' auditors. Applicable state authorities are those governmental
agencies located in states in which the Fund is registered to sell shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.3.***  ***IRS Reporting.*** Ultimus will prepare and distribute appropriate Internal
Revenue Service ()"**IRS**") forms for shareholder income and capital gains (including the calculation of qualified income),
sale of fund shares, distributions from retirement accounts and education savings accounts, fair market value reporting on IRAs, contributions,
rollovers and conversions to IRAs and education savings accounts and required minimum distribution notifications and issue tax withholding
reports to the IRS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.4.***  ***Pay-to-Play Reports.*** Ultimus will provide quarterly reporting for
Fund accounts subject to pay-to- play rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Dealer/Load Processing

For each Fund with a share class that charges a sales load (either front-end or back-end), Ultimus will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.1.*** provide reports for tracking rights of accumulation and purchases made under a letter of intent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.2.*** account for separation of shareholder investments from transaction sale charges
for purchase of Fund shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.3.*** calculate fees due under Rule 12b-1 plans for distribution and marketing expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.4.*** track sales and commission statistics by dealer and provide for payment of commissions
on direct shareholder purchases; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.5.*** applying appropriate Front End Sales Load ()"**FESL**") breakpoint
and Contingent Deferred Sales Charges ()"**CDSCs**") automatically during trade processing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Shareholder Account Maintenance

For each direct shareholder account, Ultimus agrees to perform the following services:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.1.*** maintain all shareholder records for each account in each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.2.*** as dividend disbursing agent, on or before the payment date of any dividend or
distribution, notify the Fund's custodian of the estimated amount of cash required to pay such dividend or distribution; prepare
and distribute to shareholders any funds to which they are entitled by reason of any dividend or distribution and in the case of
shareholders entitled to receive additional shares of the Fund by reason of any such dividend or distribution, make appropriate credit
to their respective accounts and prepare and mail to such shareholders a confirmation statement with respect to such shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.3.*** issue customer statements on a scheduled cycle, and provide duplicate second and
third party copies if required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.4.*** record shareholder account information changes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.5.*** maintain account documentation files for each shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. uTRANSACT Web Services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***6.1.*** Provide and maintain an internet portal for shareholders and registered investment
advisers to access and perform various online capabilities on their investment accounts with the Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Blue Sky Services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***7.1.*** Ultimus shall provide the Trust with state registration (blue sky) services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. PLAID

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.1.*** Provide online bank account verification services using third-party PLAID technology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Other Services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9.1.*** Ultimus shall perform other services for the Trust that are mutually agreed upon
in a writing signed by the parties for mutually agreed fees, if any, and all reimbursable expenses incurred by Ultimus; provided, however
that the Trust may retain third parties to perform such other services. These services may include performing internal audit examination;
mailing the annual reports of the Funds; preparing an annual list of shareholders; and mailing notices of shareholders' meetings,
proxies, and proxy statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. National Securities Clearing Corporation Processing

Ultimus will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.1.*** process accounts through Networking and the purchase, redemption, transfer and
exchange of shares in such accounts through Fund/SERV (Networking and Fund/SERV being programs operated by the National Securities Clearing
Corporation (the "**NSCC**") on behalf of NSCC's participants, including the Trust), in accordance with, instructions
transmitted to and received by Ultimus by transmission from NSCC on behalf of broker-dealers and banks which have been established by,
or in accordance with the instructions of authorized persons, as hereinafter defined on the dealer file maintained by Ultimus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.2.*** issue instructions to each Fund's custodian for the settlement of transactions
between the Fund and NSCC (acting on behalf of its broker-dealer and bank participants);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.3.*** provide account and transaction information from the affected Trust's records
on an appropriate computer system in accordance with NSCC's Networking and Fund/SERV rules for those broker- dealers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.4.*** maintain shareholder accounts through Networking.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Tax Matters

Ultimus does not provide tax advice. Nothing in the Master Services Agreement or this Transfer Agent and Shareholder Services Addendum shall be construed or have the effect of rendering tax advice. It is important that the Trust or a Fund consult a professional tax advisor regarding its individual tax situation.

**Signatures are located on the next page.**

The parties duly executed this Transfer Agent and Shareholder Services Addendum as of March 1, 2022.

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| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **The Weitz Funds**<br> On behalf of all Funds listed on Schedule A to the Master Services Agreement |  | &nbsp;&nbsp;**Ultimus Fund Solutions, LLC** |
| <br> By: | /s/James J. Boyne | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> By: | /s/Gary Tenkman |
| Name: | &nbsp;&nbsp;James J. Boyne | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: | &nbsp;&nbsp;Gary Tenkman |
| Title: | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: | &nbsp;&nbsp;Chief Executive Officer |

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