AMENDMENT TO THE ADVISORS SERIES TRUST CUSTODY AGREEMENT
AMENDMENT
TO THE
THIS AMENDMENT dated as of the
18th day of May, 2007, to the Custody Agreement, dated as of June 6, 2006, as
amended (the "Custody Agreement"), is entered by and between Advisors Series Trust, a
Delaware statutory trust (the "Trust") on behalf of its separate series, the PIA
BBB Bond Fund Managed Account Completion Shares Fund, the PIA MBS Bond Fund
Managed Account Completion Shares Fund, the PIA Short-Term Securities
Fund and the PIA Moderate Duration Bond Fund and U.S. Bank National Association,
a national banking association (the "Custodian").
RECITALS
WHEREAS, the parties have
entered into a Custody Agreement; and
WHEREAS, the parties desire to
amend said Custody Agreement; and
WHEREAS, Article XV, Section
15.2 of the Custody Agreement allows for its amendment by a written instrument
executed by both parties.
NOW, THEREFORE, the parties
agree to amend the following:
Exhibit L
is hereby superseded and replaced with Exhibit L attached hereto.
Except to
the extent amended hereby, the Custody Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be executed by a duly authorized
officer on one or more counterparts as of the date and year first written
above.
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U.S.
BANK N.A.
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By:
/s/ Xxxxxxx X. Xxxx
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By:
/s/ Xxxxxxx X. XxXxx
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Name:
Xxxxxxx X. Xxxx
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Name:
Xxxxxxx X. XxXxx
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Title: Treasurer
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Title:
Vice President
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1
Exhibit
L
to
the
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Name of Series
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Date Added
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PIA
BBB Bond Fund Managed Account Completion Shares
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10/27/2004
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PIA
MBS Bond Fund Managed Account Completion Shares
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02/28/2006
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PIA
Short-Term Securities Fund
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10/27/2004
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PIA
Moderate Duration Bond Fund
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10/27/2004
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For the
services rendered by U.S. Bank under this Agreement, the Fund(s) listed herein
shall pay U.S. Bank, N.A. compensation as set forth in the Fee Schedule
below:
DOMESTIC
CUSTODY SERVICES
FEE
SCHEDULE at May, 2007
I. Portfolio Transaction
Fees:
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DTC
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$[____]
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GNMA/Amortized
Security Purchase
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$[____]
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Fed
Book Entry
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$[____]
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Physical
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$[____]
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Principal
Paydown
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$[____]
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Option
(Initial Only)/Future
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$[____]
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Repurchase
Agreement
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$[____]
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Wires
In/Out
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$[____]
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Mutual
Fund Transactions
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$[____]
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A
transaction is a purchase/sale of a security, free receipt/free delivery
(excludes initial conversion), maturity, tender or exchange:
II. Market Value
Fee
Based upon an annual rate of:
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[___]
basis point on
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the
first $[____] plus
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[___]
basis point on
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the
next $[____] plus
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[___]
basis point on
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excess
of $[____].
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Total assets of the
fund(s)
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Subject to a $[___]. Per month
minimum per portfolio
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III. Out-of-Pocket
Expenses
The only
out-of-pocket expenses charged to your account will be shipping fees or
transaction fees
PACIFIC
INCOME ADVISORS, INC.
By: /s/ Xxxx X.
Xxxxx
Printed Name: Xxxx X.
Xxxxx
Title: COO
Date: 5/15/2007
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