0000894189-05-003214 Sample Contracts

ADVISORS SERIES TRUST INVESTMENT ADVISORY AGREEMENT MIDANEK/PAK ADVISORS, LLC
Investment Advisory Agreement • November 29th, 2005 • Advisors Series Trust • California

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 30th day of September, 2004, by and between Advisors Series Trust, a Delaware statutory trust (hereinafter called the "Trust"), on behalf of the following series of the Trust, Midanek/Pak Ultrashort Duration Fund (the "Fund") and Midanek/Pak Advisors, LLC, a California limited liability company (hereinafter called the "Advisor").

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DISTRIBUTION AGREEMENT
Distribution Agreement • November 29th, 2005 • Advisors Series Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 1st day of October, 2001, by and between Advisors Series Trust, a Delaware business trust (“Trust”), and Quasar Distributors, LLC, a Delaware limited liability company (“Distributor”).

ADVISORS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • November 29th, 2005 • Advisors Series Trust • California

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of September 30, 2004 by and between ADVISORS SERIES TRUST, a Delaware statutory trust (the “Trust”), on behalf of the Midanek/Pak Ultrashort Duration Fund (the “Fund”), a series of the Trust, and the Advisor of the Fund, Midanek/Pak Advisors, LLC (the “Advisor”).

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