0000894189-08-002036 Sample Contracts

DISTRIBUTION AGREEMENT
Distribution Agreement • July 3rd, 2008 • Advisors Series Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 11th day of June, 2008, by and between ADVISORS SERIES TRUST, a Delaware business trust (the “Trust”) and QUASAR DISTRIBUTORS, LLC, a Delaware limited liability company (the “Distributor”). DAVIDSON INVESTMENT ADVISORS, INC., a Montana corporation and the investment advisor to the Trust (the “Advisor”), is a party hereto with respect to Sections 5 and 11B only.

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ADVISORS SERIES TRUST INVESTMENT ADVISORY AGREEMENT with Davidson Investment Advisors, Inc.
Investment Advisory Agreement • July 3rd, 2008 • Advisors Series Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 3rd day of July, 2008, by and between Advisors Series Trust, a Delaware business trust (hereinafter called the “Trust”), on behalf of the series of the Trust indicated on Schedule A, which may be amended from time to time, (each a “Fund”, and together the “Funds”) and Davidson Investment Advisors, Inc., a Delaware corporation (hereinafter called the “Advisor”).

AMENDMENT TO THE ADVISORS SERIES TRUST TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • July 3rd, 2008 • Advisors Series Trust

THIS AMENDMENT dated as of the 3rd day of July, 2008, to the Transfer Agent 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").

ADVISORS SERIES TRUST FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • July 3rd, 2008 • Advisors Series Trust

THIS AMENDMENT dated as of the 3rd day of July, 2008, to the Fund Accounting 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").

AMENDMENT TO THE ADVISORS SERIES TRUST FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • July 3rd, 2008 • Advisors Series Trust

THIS AMENDMENT dated as of the 3rd day of July, 2008, 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").

AMENDMENT TO THE ADVISORS SERIES TRUST CUSTODY AGREEMENT
Custody Agreement • July 3rd, 2008 • Advisors Series Trust

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").

ADVISORS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • July 3rd, 2008 • Advisors Series Trust • California

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of July 3, 2008 by and between ADVISORS SERIES TRUST, a Delaware statutory trust (the “Trust”), on behalf of each series listed in Appendix A as attached hereto, each a series of the Trust, and the Advisor of the Fund(s), DAVIDSON INVESTMENT ADVISORS, INC. (the “Advisor”).

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