AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
AMENDMENT
TO THE
THIS AMENDMENT dated as of
the15th day of July, 2008, to the Fund Administration Servicing Agreement, dated
as of June 8, 2006, as amended (the "Fund Administration Agreement"), is entered
into 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. Bancorp Fund Services,
LLC, a Wisconsin limited liability company ("USBFS").
RECITALS
WHEREAS, the parties have
entered into a Fund Administration Agreement; and
WHEREAS, the parties desire to
amend the fees of said Fund Administration Agreement; 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
K, the fees effective as of May 1, 2008, is hereby superseded and replaced with
Exhibit K attached hereto.
Except to
the extent amended hereby, the Fund Administration 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.
|
U.S.
BANCORP FUND SERVICES, LLC
|
|
|
By:
/s/ Xxxxxxx X.
Xxxx
|
By:
/s/ Xxxxxxx X.
XxXxx
|
|
Name: Xxxxxxx X.
Xxxx
|
Name:
Xxxxxxx X.
XxXxx
|
|
Title: President
|
Title: Executive
Vice President
|
Exhibit
K to the
|
Name of Series
|
Date Added
|
||
|
PIA
BBB Bond Fund Managed Account Completion Shares
|
10/27/2004
|
||
|
PIA
MBS Bond Fund Managed Account Completion Shares
|
02/28/2006
|
||
|
PIA
Short-Term Securities Fund
|
10/27/2004
|
||
|
PIA
Moderate Duration Bond Fund
|
10/27/2004
|
|
PIA Funds
FUND
ADMINISTRATION & COMPLIANCE SERVICES
FEE
SCHEDULE at May 1, 2008
|
|||
|
PIA
BBB Bond & MBS Bond Funds
PIA
Moderate Duration Bond Fund
PIA
Short Term Securities Fund
Domestic Funds and International Funds*
Annual
Fee:
$[___]
minimum/Fund (i.e. $[___] for current [___] funds)
[___] basis points on first $[___] million of combined assets
[___] basis points on next $[___] million of combined assets
[___] basis points on next $[___] billion of combined assets
[___] basis points over $[___] billion of combined assets
Advisor Information Source Web
Portal
· $[___]
/fund/month
· $[___]
/fund/month for clients using an external administration
service
· Specialized
projects will be analyzed and an estimate will be provided prior to work
being performed.
Plus Out-Of-Pocket
Expenses – Including but not limited to postage, stationery,
programming, special reports, daily compliance testing systems expenses,
proxies, insurance, XXXXX filing, retention of records, federal and state
regulatory filing fees, certain insurance premiums, expenses from board of
directors meetings, third party auditing and legal expenses, conversion
expenses (if necessary), and all other out-of-pocket
expenses.
Additional Services –
Above pricing is for standard services. Available but not
included above are the following services – multiple classes, legal
administration, SEC §15(c) reporting, Advisor Information Source data
delivery, daily fund compliance testing, daily pre- and post-performance
reporting.
Fees
are billed monthly.
*
Subject to annual CPI increase, Milwaukee
MSA.
|
Advisor’s
signature below acknowledges approval of the fee schedule above.
PACIFIC
INCOME ADVISERS, INC.
By:
/s/ Xxxx X.
Xxxxx
Printed
Name: Xxxx
X. Xxxxx
Title:
CCO
Date:
7/16/2008
Exhibit
K (continued) to the Separate Series of Advisors Series Trust
|
CHIEF
COMPLIANCE OFFICER SERVICES
FEE
SCHEDULE at May 1, 2008
|
|
Chief Compliance Officer
Services
U.S.
Bancorp provides the Chief Compliance Officer (CCO) for each fund serviced
within the Multiple Series Trust. Compliance functions
performed by USBFS provided CCO include, but are not limited
to:
• Designation
as the Trust’s Chief Compliance Officer
• Periodic
and Annual Reporting to MST Fund Board
• Board
Meeting Presentation and Board Support
• MST
Fund Board Liaison For All Compliance Matters
• Daily
Resource to Advisor CCO and Fund Board
• Review
of Advisor Compliance Policies, Procedures and Controls
• Review
of USBFS/USB Critical Procedures & Compliance Controls
• Due
Diligence Review of Advisor and USBFS Service Facilities
• Testing,
Documentation and Reporting of Advisor and USBFS/USB Compliance Policies,
Procedures and Controls
Compliance
functions performed by USBFS Risk Management Team include, but are not
limited to:
• Quarterly
USBFS Certification to Trust CCO
• Business
Line Functions Supported
• Fund
Administration and Compliance
• Transfer
Agent and Shareholder Services
• Fund
Accounting
• Custody
Services
• Distribution
Services
• CCO
Portal – Web On-line Access to Fund CCO Documents
• Periodic
CCO Conference Calls
• Dissemination
of Industry/Regulatory Information
• Client
& Business Line Compliance Education & Training
Chief Compliance Officer
(CCO)*
- as
allocated by the AST Board
Plus Out-Of-Pocket
Expenses – including but not limited to CCO team travel related
costs to perform due diligence reviews at Advisor facilities
Fees
are billed monthly.
*Subject
to annual CPI increase, Milwaukee
MSA.
|
Advisor’s
Signature below acknowledges approval of the fee schedule above.
PACIFIC
INCOME ADVISERS, INC.
By:__/s/ Xxxx X.
Brown_______
Printed
Name:__Thad M.
Brown___
Title:__CCO___________ Date:__7/16/2008____
