0000894189-05-001215 Sample Contracts

ADVISORS SERIES TRUST INVESTMENT ADVISORY AGREEMENT CastleRock Fund
Investment Advisory Agreement • May 16th, 2005 • Advisors Series Trust • California

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 14th day of March, 2005, by and between Advisors Series Trust, a Delaware statutory trust (hereinafter called the "Trust"), on behalf of the following series of the Trust, CastleRock Fund (the "Fund") and Burroughs Hutchinson, Inc., an Idaho corporation (hereinafter called the "Advisor").

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ADVISORS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • May 16th, 2005 • Advisors Series Trust • California

THIS OPERATION EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of March 14th, 2005 by and between ADVISORS SERIES TRUST, a Delaware statutory trust (the “Trust”), on behalf of the CastleRock Fund (the “Fund”), a series of the Trust, and the Advisor of the Fund, Burroughs Hutchinson, Inc. (the “Advisor”).

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