AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
AMENDMENT
TO THE
FUND
ADMINISTRATION SERVICING AGREEMENT
THIS AMENDMENT dated as of the
12th
day of December, 2007, 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 a Fund Administration Servicing Agreement; and
WHEREAS, the parties desire to
amend the series of the Trust to add funds; 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 exhibits and add the following:
Exhibit R, the funds and fees of
ActivePassive Large Cap Growth Fund, ActivePassive Large Cap Value Fund,
ActivePassive Small/Mid Cap Growth Fund, ActivePassive Small/Mid Cap Value Fund,
ActivePassive International Equity Fund, ActivePassive Emerging Markets Equity
Fund, ActivePassive Global Bond Fund, ActivePassive Intermediate Taxable Bond
Fund, ActivePassive High Yield Bond Fund, and ActivePassive Intermediate
Municipal Bond Fund, is hereby added to the Agreement and 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.
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U.S.
BANCORP FUND SERVICES, LLC
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By:
/s/ Xxxxxxx X.
Xxxx
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By:
/s/ Xxxxxxx X.
XxXxx
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Printed
Name: Xxxxxxx X. Xxxx
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Printed
Name: Xxxxxxx X. XxXxx
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Title: President
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Title:
Executive Vice President
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ActivePassive
1
Exhibit
R
to
the
Separate
Series of Advisors Series Trust Fund Administration Servicing
Agreement
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Name of Series
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Date Added
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ActivePassive
Large Cap Growth Fund
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on
or after 12/31/2007
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ActivePassive
Large Cap Value Fund
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on
or after 12/31/2007
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ActivePassive
Small/Mid Cap Growth Fund
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on
or after 12/31/2007
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ActivePassive
Small/Mid Cap Value Fund
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on
or after 12/31/2007
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ActivePassive
International Equity Fund
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on
or after 12/31/2007
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ActivePassive
Emerging Markets Equity Fund
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on
or after 12/31/2007
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ActivePassive
Global Bond Fund
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on
or after 12/31/2007
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ActivePassive
Intermediate Taxable Bond Fund
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on
or after 12/31/2007
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ActivePassive
High Yield Bond Fund
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on
or after 12/31/2007
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ActivePassive
Intermediate Municipal Bond Fund
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on
or after 12/31/2007
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ActivePassive
2
Exhibit
R (continued) to the Separate Series of Advisors Series Trust
Fund
Administration Servicing Agreement
For the
services rendered by U.S. Bancorp Fund Services, LLC under this Agreement, the
Fund(s) listed herein shall pay U.S. Bank compensation as set forth in the Fee
Schedule below:
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ActivePassive
Funds
FUND
ADMINISTRATION & COMPLIANCE SERVICES
FEE
SCHEDULE at December, 2007
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Domestic
Funds
Annual Fee Based Upon Total Assets of Fund Complex*
¨ $[_]
on the first $[_] million (includes [_] funds with one class)
¨ [_]
basis points on the next $[_] million
¨ [_]
basis points on the balance above $[_] billion
Additional classes & Multiple Manager Reporting (if required)*
Add
$[_] for each additional class of shares
Additional
base fee of $[_] per fund per year for up to [_] sub-advisors per
fund.
Advisor Information Source Web
Portal
· $[_]/fund/month
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, 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 15c 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.
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[_]% reduction in the base fee of
$[_] for the
first [_] months
and [_]% in the second
[_] months of
operation.
Advisor’s
Signature below acknowledges approval of the fee schedule above.
FundQuest
Incorporated
By: /s/ Xxxxxxx X.
Xxxxx
Printed
Name: Xxxxxxx X.
Xxxxx
Title: CIO Date: December
27, 2007
ActivePassive
3
Exhibit
R (continued) to the Separate Series of Advisors Series Trust
Fund
Administration Servicing Agreement
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Multiple
Series Trust
ActivePassive
Funds - CHIEF COMPLIANCE OFFICER SERVICES
FEE
SCHEDULE at December, 2007
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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)*
· $[_] per fund per
year
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.
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Advisor’s
Signature below acknowledges approval of the fee schedule above.
FundQuest
Incorporated
By: /s/ Xxxxxxx X.
Xxxxx
Printed
Name: Xxxxxxx X.
Xxxxx
Title: CIO Date: December
27, 2007
ActivePassive
4
