0000894189-08-001376 Sample Contracts

DISTRIBUTION AGREEMENT
Distribution Agreement • April 29th, 2008 • Advisors Series Trust • Wisconsin

THIS AGREEMENT is made and entered into this 30th day of June, 2006, by and between ADVISOR SERIES TRUST, a Delaware business trust (the “Trust”), on behalf of its funds The Al Frank Fund and the Al Frank Dividend Value Fund and QUASAR DISTRIBUTORS, LLC, a Delaware limited liability company (the “Distributor”). AL FRANK ASSET MANAGEMENT, INC., the investment advisor to the Fund (the “Advisor”), is a party hereto with respect to Section 5 only.

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ADVISORS SERIES TRUST INVESTMENT ADVISORY AGREEMENT Al Frank Dividend Value Fund
Investment Advisory Agreement • April 29th, 2008 • Advisors Series Trust • California

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 10th day of September, 2004, by and between Advisors Series Trust, a Delaware business trust (hereinafter called the "Trust"), on behalf of the following series of the Trust, Al Frank Dividend Value Fund (the "Fund") and Al Frank Asset Management, Inc., a California corporation (hereinafter called the "Advisor").

ADVISORS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • April 29th, 2008 • Advisors Series Trust • Arizona

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of September 10, 2004 by and between ADVISORS SERIES TRUST, a Delaware business trust (the “Trust”), on behalf of The Al Frank Dividend Value Fund (the “Fund”), a series of the Trust and the Advisor of such Fund, Al Frank Asset Management, Inc. (the “Advisor”).

AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • April 29th, 2008 • Advisors Series Trust

THIS AMENDMENT dated as of the 18th day of August, 2006, to the Fund Administration Servicing Agreement, dated as of June 8, 2006 (the "Agreement"), is entered 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").

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