AMENDMENT TO THE ETF SERIES SOLUTIONS FUND ADMINISTRATION SERVICING AGREEMENT
Exhibit L to the ETF Series Solutions Fund Administration Servicing Agreement
Name of Series
Xxxxxx Cancer Immunotherapy ETF
Xxxxxx China BioPharma ETF
Base Fees for Accounting, Administration, Transfer Agent, Custody and Quasar Services at August, 2015
The following reflects the greater of the basis point fee or annual minimum for administration, accounting, transfer agent, custody and distribution for the funds listed on this Exhibit L
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Basis Points on AUM for Funds Listed on this Exhibit L
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Annual Minimum per Fund1
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First $250m
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Next $250m
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Next $500m
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Balance
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$[ ]
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[ ]
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[ ]
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[ ]
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[ ]
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See the following pages for Services and Associated Fees in addition to the Base Fees
See the following pages for OPTIONAL Supplemental Services and Associated Fees
Breakdown per Service Line
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Admin/Accounting/TA
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Basis Points on AUM for Funds Listed on this Exhibit L
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Annual Minimum per Fund1
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First $250m
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Next $250m
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Next $500m
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Balance
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$[ ]
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[ ]
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[ ]
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[ ]
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[ ]
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Year 1 Step2 In Fees per Fund for Administration/Accounting/Transfer Agent annual minimum1
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Q1
Year 1
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25% of
annual
min./month1
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Q2
Year 1
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50% of
annual
min./month1
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Q3
Year 1
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150% of
annual
min./month1
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Q4
Year 1
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175% of
annual
min./month1
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Month 1
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$[ ]
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Month 4
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$[ ]
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Month 7
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$[ ]
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Month 10
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$[ ]
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Month 2
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$[ ]
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Month 5
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$[ ]
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Month 8
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$[ ]
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Month 11
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$[ ]
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Month 3
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$[ ]
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Month 6
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$[ ]
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Month 9
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$[ ]
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Month 12
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$[ ]
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1 Subject to annual CPI increase - All Urban Consumers - U.S. City Average.
Fees are calculated pro rata and billed monthly
2 Step in Fees do not include custody annual minimums, Quasar annual minimums, global custody fees or any out of pocket expenses such as daily pricing, corporate actions, CCO, domestic and global custody transaction charges, FINRA review charges via Quasar etc.
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Xxxxxx
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2
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Exhibit L (continued) to the ETF Series Solutions Fund Administration Servicing Agreement
Accounting, Administration, Transfer Agent & Account Services in addition to the Base Fee1
Fee Schedule at August, 2015
Pricing Services
For daily pricing of each securities (estimated 252 pricing days annually)
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$[ ] - Domestic Equities, Options, ADRs, Foreign Equities
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| § |
$[ ] - Domestic Corporates, Convertibles, Governments, Agencies, Futures, Options on Futures, Forwards, Currency Rates, Mortgage Backed
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| § |
$[ ] - CMOs, Municipal Bonds, Money Market Instruments, Foreign Corporates, Convertibles, Governments, Agencies, Asset Backed, High Yield
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| § |
$[ ] - Interest Rate Swaps, Foreign Currency Swaps, Total Return Swaps, Total Return Bullet Swaps
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| § |
$[ ] - Bank Loans
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| § |
$[ ] - Swaptions
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| § |
$[ ] - Credit Default Swaps
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| § |
$[ ] per Month Manual Security Pricing (>25 per day)
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NOTE: Prices are based on using U.S. Bancorp primary pricing service which may vary by security type and are subject to change. Use of alternative and/or additional sources may result in additional fees. Pricing vendors may designate certain securities as hard to value or as a non-standard security type, such as CLOs and CDOs, which may result in additional fees. All schedules subject to change depending upon the use of unique security type requiring special pricing or accounting arrangements.
Corporate Action Services
Fee for IDC data used to monitor corporate actions
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$[ ] per Foreign Equity Security per Month
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| § |
$[ ] per Domestic Equity Security per Month
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Third Party Data Charges (descriptive data for analytics, reporting and compliance)
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$[ ] per security per month
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ESS Trust Chief Compliance Officer Annual Fee (subject to board approval)
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$[ ] for the first fund
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| § |
$[ ] for each additional fund
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$[ ] per sub-advisor per fund
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Section 15(c) Reporting
Add the following for fund administration services and data charges necessary to compile SEC required “peer reporting” information.
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$[ ] per fund per report
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SEC Modernization Requirements
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Form N-PORT – $[ ] per year, per Fund
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| § |
Form N-CEN – $[ ] per year, per Fund
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Ongoing Annual Legal Administration Services
Add the following for legal administration services in support of external legal counsel, including annual registration statement update and drafting of supplements: (Final Fee(s) subject to USBFS legal team review and approval)
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$[ ] minimum first fund
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$[ ] minimum each additional fund
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Out-Of-Pocket Expenses
Including but not limited to, SWIFT processing, customized reporting, third-party data provider costs (including GICS, MSCI, Lipper, etc.), postage, stationary, programming, special reports, proxies, insurance, XXXXX/XBRL filing, retention of records, federal and state regulatory filing fees, expenses related to and including travel to and from Board of Trustee meetings, third party auditing, tax 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 and sub-advisor facilities
1 Subject to annual CPI increase - All Urban Consumers - U.S. City Average.
Fees are calculated pro rata and billed monthly
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Xxxxxx
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3
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Exhibit L (continued) to the ETF Series Solutions Fund Administration Servicing Agreement
Fee Schedule at August, 2015
OPTIONAL Supplemental Services for Fund Accounting, Fund Administration & Portfolio Compliance (provided by USBFS upon client request)
Daily Compliance Services
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Base fee – $[ ] per fund per year
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| § |
Setup – $[ ] per fund group
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Fair Value Services (Charged at the Complex Level)
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$[ ] per security on the First 100 Securities
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| § |
$[ ] per security on the Balance of Securities
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Customized Benchmarking
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Negotiated based upon specific requirements
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USBFS Outbound Marketing Services
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Cost based on project requirements
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Adviser’s signature not needed as fees are not changing; only adding additional fund to Exhibit L.
1 Subject to annual CPI increase - All Urban Consumers - U.S. City Average.
Fees are calculated pro rata and billed monthly
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Xxxxxx
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4
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