AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
AMENDMENT TO THE
THIS AMENDMENT dated as of the 5th day of December 2013, to the Fund Administration Servicing Agreement, dated as of June 8, 2006, as amended (the "Agreement"), is entered into by and between Advisors Series Trust, a Delaware statutory trust (the "Trust") and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company ("USBFS").
RECITALS
WHEREAS, the parties have entered into the Agreement; and
WHEREAS, the parties desire to amend the Agreement to amend the fees; and
WHEREAS, Section 10 of the Agreement allows for its amendment by a written instrument executed by both parties.
NOW, THEREFORE, the parties agree to amend the following;
Exhibit E, of the agreement, is hereby superseded and replaced with Amended Exhibit E
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 Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
| ADVISORS SERIES TRUST | U.S. BANCORP FUND SERVICES, LLC |
| By: /s/ Xxxxxxx X. Xxxx | By: /s/ Xxxxxxx X. XxXxx |
| Printed Name: Xxxxxxx X. Xxxx | Printed Name: Xxxxxxx X. XxXxx |
| Title: President | Title: Executive Vice President |
1
Amended Exhibit E
to the
Separate Series of Advisors Series Trust - Fund Administration Servicing Agreement
| Name of Series | Date Added | |
| Chase Growth Fund | 3/12/2003 | |
| Chase Mid Cap Growth Fund | 10/25/2004 |
Fund Accounting, Fund Administration & Portfolio Compliance, and Chief Compliance
Officer (CCO) Services Fee Schedule at January 1, 2014
Annual Fee Based Upon Average Net Assets Per Fund*
___ basis points on the first $___
___ basis points on the next $___
___ basis points on the balance
Minimum annual fee: $___ per fund
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Additional fee of $___ for each additional class
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Additional fee of $___ per manager/sub-advisor per fund
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Additional fee of $___ for a Controlled Foreign Corporation (CFC)
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Services Included in Annual Fee Per Fund
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Advisor Information Source – On-line access to portfolio management and compliance information.
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Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting.
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USBFS Legal Administration (e.g., registration statement update)
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Pricing Services**
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$___ - Domestic Equities, Options, ADRs
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$___ - Domestic Corporate/Convertible/Gov’t/Agency Bonds, Foreign Equities, Futures, Forwards, Currency Rates, Mortgage Backed Securities
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$___ - CMOs, Municipal Bonds, Money Market Instruments, Foreign Corporate/Convertible/Gov’t/Agency Bonds, Asset Backed Securities, High Yield Bonds
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$___ - Bank Loans
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$___ - Credit Default Swaps
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$___ - Swaptions, Index Swaps
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$___ - Interest Rate Swaps, Foreign Currency Swaps, Total Return Swaps, Total Return Bullet Swaps
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Corporate Action & Manual Pricing Services
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$___ /Foreign Equity Security per Month for Corporate Action Service
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$___ /Domestic Equity Security per Month for Corporate Action Service
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$___ /Month Manual Security Pricing (>10/day)
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Fair Value Services (Charged at the Complex Level)**
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$___ on the First ___ Securities
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$___ on the Balance of Securities
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NOTE: Prices above are based on using U.S. Bancorp primary pricing service which may vary by security type and are subject to change. Use of alternative and/or additional sources may result in additional fees. Pricing vendors may designate certain securities as hard to value or as a non- standard security type which may result in additional fees. All schedules subject to change depending upon the use of unique security type requiring special pricing or accounting arrangements.
Chief Compliance Officer Annual Fees (Per Advisor Relationship/Fund)*
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$___ for the first fund (subject to Board approval)
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$___ for each additional fund (subject to change based on Board review and approval)
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$___ /sub-advisor per fund
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Out-Of-Pocket Expenses
Including but not limited to corporate action services, fair value pricing services, factor services, SWIFT processing, customized reporting, third-party data provider costs (including GICS, MSCI, Lipper, etc.), postage, stationery, programming, special reports, proxies, insurance, XXXXX/XBRL filing, retention of records, federal and state regulatory filing fees, expenses from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing, PFIC monitoring, conversion expenses (if necessary), and CCO team travel related costs to perform due diligence reviews at advisor or sub-advisor facilities.
2
Amended Exhibit E
to the
Separate Series of Advisors Series Trust - Fund Administration Servicing Agreement
Fund Accounting, Fund Administration & Portfolio Compliance, and Chief
Compliance Officer (CCO) Services Fee Schedule (continued) at January 1, 2014
Additional Services
Available but not included above are the following services – additional legal administration (e.g., subsequent new fund launch), daily compliance testing (Xxxxxxx River), Section 15(c) reporting, equity & fixed income attribution reporting, electronic Board book portal (BookMark), and additional services mutually agreed upon.
*Subject to annual CPI increase, Milwaukee MSA.
** Per security per fund per pricing day.
Fees are calculated pro rata and billed monthly.
Fund Administration & Compliance Portfolio Services Supplemental Services Fee Schedule at January 1, 2014
Additional Legal Administration Services
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Subsequent new fund launch – $___ /project
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Subsequent new share class launch – $___ /project
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Multi-managed funds – as negotiated based upon specific requirements
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Proxy – as negotiated based upon specific requirements
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Daily Compliance Services (Xxxxxxx River)
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Base fee – $___ /fund per year
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Setup – $___ /fund group
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Section 15(c) Reporting
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$___ /fund per report – first class
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$___ /additional class report
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Equity & Fixed Income Attribution Reporting
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Fees are dependent upon portfolio makeup, services required, and benchmark requirements.
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Advisor’s Signature below acknowledges approval of the fee schedules on this Exhibit X.
XXXXX INVESTMENT COUNSEL CORPORATION
By: /s/ Xxxxxxxx Xxxx
Printed Name: Xxxxxxxx Xxxx
Title: Senior Vice President Date: 12/13/13
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