AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
AMENDMENT TO THE
THIS AMENDMENT dated as of the 12th day of June, 2012, 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 series to the Advisor Series Trust:
Exhibit DD, the Xxxxxxx Merger 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. 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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Xxxxxxx – 6/2012
| Name of Series | Date Added |
| Xxxxxxx Merger Fund | On or after June 12, 2012 |
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Multiple Series Trust
FUND ACCOUNTING, FUND ADMINISTRATION & PORTFOLIO COMPLIANCE, AND
CHIEF COMPLIANCE OFFICER (CCO) SERVICES FEE SCHEDULE at June, 2012
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Annual Fee Based Upon Average Net Assets Per Fund*
10 basis points on the first $75 million
8 basis points on the next $250 million
5 basis points on the balance
Minimum annual fee: $64,000 per fund
§ Additional fee of $30,000 for each additional class
§ Additional fee of $15,000 per manager/sub-advisor per fund
Services Included in Annual Fee Per Fund
§ Daily Performance Reporting
§ Advisor Information Source Web Portal
§ USBFS Legal Administration (e.g., registration statement update)
CCO Annual Fees (Per Advisor Relationship/Fund)*
§ $12,000 /fund (subject to change based on Board review and approval)
§ $9,000 for each additional fund (subject to change based on Board review and approval)
§ $3,500 / sub-advisor per fund
Out-Of-Pocket Expenses
Including but not limited to pricing services, corporate action services, fair value pricing services, factor services, customized reporting, third-party data provider costs (including GICS, MSCI, etc), postage, stationery, programming, special reports, proxies, insurance, XXXXX/XBRL filing, retention of records, federal and state regulatory filing fees, expenses from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing, conversion expenses (if necessary), and CCO team travel related costs to perform due diligence reviews at advisor or sub-advisor facilities.
Additional Services
Available but not included above are the following services – Daily compliance testing (Xxxxxxx River), Section 15(c) reporting, equity attribution, electronic Board book portal (BookMark), and additional services mutually agreed upon.
*Subject to annual CPI increase, Milwaukee MSA.
Fees are billed monthly.
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Advisor’s Signature below acknowledges approval of the two fee schedules on this Exhibit DD.
Xxxxxxx Management, L.P.
By: /s/Xxxx X. Xxxxxxxx
Printed Name: Xxxx X. Xxxxxxxx
Title: Chief Financial Officer Date: 6/5/12
Xxxxxxx – 6/2012
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Exhibit DD (continued) to the Advisors Series Trust Fund Administration Servicing Agreement
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FUND ADMINISTRATION & COMPLIANCE PORTFOLIO SERVICES
SUPPLEMENTAL SERVICES FEE SCHEDULE at June, 2012
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Annual Legal Administration (INCLUDED IN ANNUAL FEE)
Add the following for legal administration services in support of external legal counsel, including annual registration statement update and drafting of supplements:
§ $15,000 additional minimum
Additional Services (NOT INCLUDED IN ANNUAL FEE)
§ New fund launch – as negotiated based upon specific requirements
§ Subsequent new fund launch – $15,000 /project
§ Subsequent new share class launch – $10,000 /project
§ Multi-managed funds – as negotiated based upon specific requirements
§ Proxy – as negotiated based upon specific requirements
Daily Compliance Services (Xxxxxxx River)
§ Base fee – $20,000 /fund per year
§ Setup – $2,500 /fund group
§ Data Feed – $0.15 /security per month
Section 15(c) Reporting
§ $2,000 /fund per report – first class
§ $600 /additional class report
Equity Attribution (Morningstar Direct)
§ $16,000 first user
§ $10,500 second user
§ $8,000 thereafter
BookMark Electronic Board Book Portal
§ USBFS will establish a central, secure portal for Board materials using a unique client board URL.
§ Your Fund Administrator will load/maintain all fund board book data for the main fund board meetings and meetings.
§ Features password-protected, encrypted servers with automatic failover.
§ Training and ongoing system support.
§ Accessible from your smart phone or iPad.
§ Allows multiple users to access materials concurrently.
§ Searchable archive.
§ Ability to make personal comments.
Annual Fee
§ 0-10 users - $4,800 (includes 3 GB of storage)
§ 10-20 users - $6,000
§ 20-30 users - $7,000
§ 30-40 users - $8,000
Additional Storage: 3 GB included in annual charge; $500 for each additional 5 GB of storage
Daily Pre- and Post-Tax Performance Reporting (INCLUDED IN ANNUAL FEE) and/or Sub=Advisor Performance Reporting
§ Performance Service – $300 /CUSIP per month
§ Setup – $100 /CUSIP
§ Conversion – quoted separately
§ FTP Delivery – $2,500 setup /FTP site
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Xxxxxxx – 6/2012 3
