AMENDMENT TO THE ADVISORS SERIES TRUST CUSTODY AGREEMENT
AMENDMENT TO THE
CUSTODY AGREEMENT
THIS AMENDMENT dated as of the 22nd day of September, 2011, to the Custody Agreement, dated as of June 6, 2006, as amended (the “Agreement”), is entered by and between Advisors Series Trust, a Delaware statutory trust (the “Trust”) behalf of its separate series listed on Exhibit R attached hereto (as amended from time to time), and U.S. Bank National Association, a national banking association (the “Custodian”).
RECITALS
WHEREAS, the parties have entered into a Custody Agreement; and
WHEREAS, the parties desire to amend the funds and the fees of the series of the Trust; and
WHEREAS, Article XV, Section 15.2 of the Agreement allows for its amendment by a written instrument executed by both parties.
NOW, THEREFORE, the parties agree as follows:
Exhibit R is hereby superseded and replaced with Exhibit R attached hereto.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.
U.S. BANK N.A.
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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: Vice President
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1
Exhibit R to the
Advisors Series Trust Custody Agreement
Name of Series
Xxxxx Capital Equity Income Fund – Investor Class
Xxxxx Capital Small Cap Value Fund – Investor Class
Xxxxx Capital Equity Income Fund – Institutional Class
Xxxxx Capital Small Cap Fund – Institutional Class
Multiple Series Trust
DOMESTIC CUSTODY SERVICES
FEE SCHEDULE at October 25, 2011
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Annual Fee Based Upon Market Value Per Fund*
[ ] basis point on average daily market value
Minimum annual fee per fund - $[ ]
Plus portfolio transaction fees
Portfolio Transaction Fees
$[ ] per book entry DTC transaction
$[ ] per principal paydown
$[ ] per short sale
$[ ] per US Bank repurchase agreement transaction
$[ ] per option/future contract written, exercised or expired
$[ ] per book entry Federal Reserve transaction
$[ ] per mutual fund trade
$[ ] per physical transaction
$[ ] per Cedel/Euroclear transaction
$[ ] per disbursement (waived if U.S. Bancorp is Administrator)
$[ ] per Fed Wire
$[ ] per margin variation Fed wire
$[ ] per segregated account per year
· A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.
· No charge for the initial conversion free receipt.
· Overdrafts – charged to the account at prime interest rate plus [ ].
Plus Out-Of-Pocket Expenses – Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, extraordinary expenses based upon complexity, and all other out-of-pocket expenses.
Fees are billed monthly.
* Subject to annual CPI increase, Milwaukee MSA.
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Advisor’s Signature below acknowledges approval of the domestic and global sub-custodial fee schedule on this Exhibit X.
Xxxxx Capital Management, LLC
By: /s/ Xxxx Xxxxxx
Printed Name: Xxxx Xxxxxx
Title: COO / CCO Dated: 10/14/11
2
Exhibit R (continued) to the Advisors Series Trust Custody Agreement
GLOBAL SUB-CUSTODIAL SERVICES – Xxxxx Capital
ANNUAL FEE SCHEDULE at August, 2007
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||||||||
Country
|
Instrument
|
Safekeeping
(BPS)
|
Transaction
Fee
|
Country
|
Instrument
|
Safekeeping
(BPS)
|
Transaction
Fee
|
|
Argentina
|
All
|
[ ]
|
$[ ]
|
Latvia
|
Gov't Bonds
|
[ ]
|
$[ ]
|
|
Australia
|
All
|
[ ]
|
$[ ]
|
Lebanon
|
All
|
[ ]
|
$[ ]
|
|
Austria
|
Equities/Bonds
|
[ ]
|
$[ ]
|
Lithuania
|
All
|
[ ]
|
$[ ]
|
|
Austria
|
Depo Receipt
|
[ ]
|
$[ ]
|
Luxembourg
|
All
|
[ ]
|
$[ ]
|
|
Austria
|
non ATS ALL
|
[ ]
|
$[ ]
|
Malaysia
|
All
|
[ ]
|
$[ ]
|
|
Bahrain
|
All
|
[ ]
|
$[ ]
|
Mali
|
All
|
[ ]
|
$[ ]
|
|
Bangladesh
|
All
|
[ ]
|
$[ ]
|
Malta
|
All
|
[ ]
|
$[ ]
|
|
Belgium
|
All
|
[ ]
|
$[ ]
|
Mauritius
|
All
|
[ ]
|
$[ ]
|
|
Benin
|
All
|
[ ]
|
$[ ]
|
Mexico
|
All
|
[ ]
|
$[ ]
|
|
Bermuda
|
All
|
[ ]
|
$[ ]
|
Morocco
|
All
|
[ ]
|
$[ ]
|
|
Bolivia
|
All
|
[ ]
|
$[ ]
|
Namibia
|
All
|
[ ]
|
$[ ]
|
|
Botswana
|
All
|
[ ]
|
$[ ]
|
Netherlands
|
All
|
[ ]
|
$[ ]
|
|
Brazil
|
All
|
[ ]
|
$[ ]
|
New Zealand
|
All
|
[ ]
|
$[ ]
|
|
Bulgaria
|
All
|
[ ]
|
$[ ]
|
Niger
|
All
|
[ ]
|
$[ ]
|
|
Burkina Faso
|
All
|
[ ]
|
$[ ]
|
Nigeria
|
All
|
[ ]
|
$[ ]
|
|
Canada
|
All
|
[ ]
|
$[ ]
|
Norway
|
All
|
[ ]
|
$[ ]
|
|
Chile
|
All
|
[ ]
|
$[ ]
|
Oman
|
All
|
[ ]
|
$[ ]
|
|
China-Shanghai
|
All
|
[ ]
|
$[ ]
|
Pakistan
|
All
|
[ ]
|
$[ ]
|
|
China-Shenzhen
|
All
|
[ ]
|
$[ ]
|
Palestinian
|
All
|
[ ]
|
$[ ]
|
|
Columbia
|
All
|
[ ]
|
$[ ]
|
Panama
|
All
|
[ ]
|
$[ ]
|
|
Costa Rica
|
All
|
[ ]
|
$[ ]
|
Peru
|
All
|
[ ]
|
$[ ]
|
|
Croatia
|
All
|
[ ]
|
$[ ]
|
Philippines
|
All
|
[ ]
|
$[ ]
|
|
Cyprus
|
All
|
[ ]
|
$[ ]
|
Poland
|
All
|
[ ]
|
$[ ]
|
|
Czech Republic
|
All
|
[ ]
|
$[ ]
|
Portugal
|
All
|
[ ]
|
$[ ]
|
|
Denmark
|
All
|
[ ]
|
$[ ]
|
Qatar
|
All
|
[ ]
|
$[ ]
|
|
EASDAQ
|
All
|
[ ]
|
$[ ]
|
Romania
|
All
|
[ ]
|
$[ ]
|
|
Ecuador
|
All
|
[ ]
|
$[ ]
|
Russia
|
Equities/Bonds
|
[ ]
|
$[ ]
|
|
Egypt
|
All
|
[ ]
|
$[ ]
|
Russia
|
MINFIN
|
[ ]
|
$[ ]
|
|
Estonia
|
All
|
[ ]
|
$[ ]
|
Senegal
|
All
|
[ ]
|
$[ ]
|
|
Euromarkets
|
All
|
[ ]
|
$[ ]
|
Singapore
|
All
|
[ ]
|
$[ ]
|
|
Finland
|
All
|
[ ]
|
$[ ]
|
Slovak Republic
|
All
|
[ ]
|
$[ ]
|
|
France
|
All
|
[ ]
|
$[ ]
|
Slovenia
|
All
|
[ ]
|
$[ ]
|
|
Germany
|
All
|
[ ]
|
$[ ]
|
South Africa
|
All
|
[ ]
|
$[ ]
|
|
Ghana
|
All
|
[ ]
|
$[ ]
|
South Korea
|
All
|
[ ]
|
$[ ]
|
|
Greece
|
All
|
[ ]
|
$[ ]
|
Spain
|
All
|
[ ]
|
$[ ]
|
|
Guinea Bissau
|
All
|
[ ]
|
$[ ]
|
Sri Lanka
|
All
|
[ ]
|
$[ ]
|
|
Hong Kong
|
All
|
[ ]
|
$[ ]
|
Swaziland
|
All
|
[ ]
|
$[ ]
|
|
Hungary
|
All
|
[ ]
|
$[ ]
|
Sweden
|
All
|
[ ]
|
$[ ]
|
|
Iceland
|
All
|
[ ]
|
$[ ]
|
Switzerland
|
All
|
[ ]
|
$[ ]
|
|
India
|
All
|
[ ]
|
$[ ]
|
Taiwan
|
All
|
[ ]
|
$[ ]
|
|
Indonesia
|
All
|
[ ]
|
$[ ]
|
Thailand
|
All
|
[ ]
|
$[ ]
|
|
Ireland
|
All
|
[ ]
|
$[ ]
|
Togo
|
All
|
[ ]
|
$[ ]
|
|
Israel
|
All
|
[ ]
|
$[ ]
|
Trinidad & Tobago
|
All
|
[ ]
|
$[ ]
|
|
Italy
|
All
|
[ ]
|
$[ ]
|
Tunisia
|
All
|
[ ]
|
$[ ]
|
|
Ivory Coast
|
All
|
[ ]
|
$[ ]
|
Turkey
|
All
|
[ ]
|
$[ ]
|
|
Jamaica
|
All
|
[ ]
|
$[ ]
|
United Kingdom
|
All
|
[ ]
|
$[ ]
|
|
Japan
|
All
|
[ ]
|
$[ ]
|
Ukraine
|
All
|
[ ]
|
$[ ]
|
|
Jordan
|
All
|
[ ]
|
$[ ]
|
Uruguay
|
All
|
[ ]
|
$[ ]
|
|
Kazakhstan
|
Equities
|
[ ]
|
$[ ]
|
Venezuela
|
All
|
[ ]
|
$[ ]
|
|
Kazakhstan
|
Bonds
|
[ ]
|
$[ ]
|
Zambia
|
All
|
[ ]
|
$[ ]
|
|
Kenya
|
All
|
[ ]
|
$[ ]
|
Zimbabwe
|
All
|
[ ]
|
$[ ]
|
|
Latvia
|
Equities/Bonds
|
[ ]
|
$[ ]
|
Base Fee
A monthly base charge of $[ ] is waived until total net assets reach $[ ] million per fund.
*Any Non-Eurobond assets held in CEDEL and Euroclear will be charged at the local market price quote.
** All fees quoted are payable monthly
3