FIRST AMENDMENT TO THE CUSTODY AGREEMENT

Exhibit (g)(ii)

FIRST AMENDMENT TO THE
CUSTODY AGREEMENT

THIS FIRST AMENDMENT dated as of the 4th day of September, 2013, to the Custody Agreement, dated as of September 9, 2009, (the “ Agreement”), is entered into by and between ENTREPRENEURSHARES SERIES TRUST, a Delaware statutory trust (the “Trust”), and U.S. BANK, N.A ., a national banking association (the “Custodian”).

RECITALS

WHEREAS, the parties have entered into the Agreement; and

WHEREAS, the Trust and the Custodian desire to amend the Agreement to add a Fund; and

WHEREAS, Article XV, Section 15.02 of the Agreement allows for its amendment by a written instrument executed by both parties.

NOW, THEREFORE, the parties agree as follows:

Exhibit C of the Agreement is hereby superseded and replaced with Amended Exhibit C

attached hereto.

Except to the extent amended hereby, the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.

ENTREPRENEURSHARES SERIES TRUST			U.S. BANK, N.A .
By:	/s/ Xxxx Xxxxxxx		By:	/s/ Xxxxxxx X. XxXxx
Name:	Xxxx Xxxxxxx		Name:	Xxxxxxx X. XxXxx
Title:	President		Title:	Senior Vice President

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Exhibit C to the Custody Agreement – EntrepreneurShares Series Trust

Fund Names

Separate Series of EntrepreneurShares Series Trust

Name of Series

EntrepreneurShares Global Fund

All Cap Impact Fund

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