AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
AMENDMENT
TO THE
THIS AMENDMENT dated as of
the 3rd day of July, 2008, 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 S, the funds and fees of
Davidson Multi-Cap Core 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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Davidson
1
Exhibit
S
to
the
Separate
Series of Advisors Series Trust Fund Administration Servicing
Agreement
Name of
Series Date
Added
Davidson
Multi-Cap Core
Fund on
or after June 11, 2008
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FUND
ADMINISTRATION & COMPLIANCE SERVICES
FEE
SCHEDULE at June, 2008
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Domestic
Funds
Annual Fee Based Upon Market Value Per
Fund*
¨ [____]
basis points on the first $[____] million
¨ [____]
basis points on the next $[____] million
¨ [____]
basis points on the balance
¨ Minimum
annual fee: $[____] per fund
¨
International
Funds
Annual Fee Based Upon Market Value Per
Fund*
[____]
basis points on the first $[____] million
[____]
basis points on the next $[____] million
[____]
basis points on the next $[____] million
[____]
basis points on the balance
Minimum
annual fee: $[____] per fund
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.
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Advisor’s
Signature below acknowledges approval of the fee schedule above.
DAVIDSON
INVESTMENT ADVISORS, INC.
By:
/s/Xxxxxx Xxxxxxxx
Printed
Name: Xxxxxx Xxxxxxxx
Title:
President Date:
7/2/2008
Davidson
2
Exhibit
S (continued) to the Separate Series of Advisors Series Trust
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Davidson
- CHIEF COMPLIANCE OFFICER SERVICES
FEE
SCHEDULE at June, 2008
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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 year per
domestic fund (total fee for all service lines)
· $[____] per year per load
fund or international fund (in addition to Fund CCO fee)
· $[____] per year per
sub-advisor per fund (in addition to Fund CCO fee)
Plus Out-Of-Pocket
Expenses – including but not limited to CCO team travel related
costs to perform due diligence reviews at Advisor or sub-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.
DAVIDSON
INVESTMENT ADVISORS, INC.
By:
/s/Xxxxxx Xxxxxxxx
Printed
Name: Xxxxxx Xxxxxxxx
Title:
President Date:
7/2/2008
Davidson
3
