AMENDMENT TO THE ADVISORS SERIES TRUST CUSTODY AGREEMENT
AMENDMENT
TO THE
THIS AMENDMENT dated as of
the 3rd day of July, 2008, to the Custody Agreement, dated as of June 6,
2006, as amended (the "Agreement"), is entered into by and between Advisors Series Trust, a
Delaware statutory trust (the "Trust") 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 series of the Trust to add funds; 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 to amend the exhibits and add the following series of Advisors Series
Trust:
Exhibit
T, the funds and fees of Davidson Multi-Cap Core Fund, is hereby added 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.
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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Davidson
1
Exhibit
T
to
the
Separate
Series of Advisors Series Trust Custody Agreement
Davidson
Investment Advisors, Inc.
Name of
Series Date
Added
Davidson
Multi-Cap Core
Fund on
or after June 11, 2008
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DOMESTIC
CUSTODY SERVICES
FEE
SCHEDULE at June, 2008
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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 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 custody fee schedule
above
DAVIDSON
INVESTMENT ADVISORS, INC.
By:
/s/Xxxxxx Xxxxxxxx
Printed
Name: Xxxxxx Xxxxxxxx
Title:
President
Date: 7/2/2008
Davidson
2
Exhibit
T (continued)
to
the
Separate
Series of Advisors Series Trust Custody Agreement
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Multiple
Series Trust
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 custody fee schedule
above
DAVIDSON
INVESTMENT ADVISORS, INC.
By:
/s/Xxxxxx Xxxxxxxx
Printed
Name: Xxxxxx Xxxxxxxx
Title:
President
Date: 7/2/2008
Davidson
3
