0000894189-14-005129 Sample Contracts

DISTRIBUTION AGREEMENT
Distribution Agreement • October 27th, 2014 • Angel Oak Funds Trust • New York

THIS AGREEMENT is made and entered into as of this 16th day of October, 2014, by and between Angel Oak Funds Trust, a Delaware statutory trust (the “Trust”) and Quasar Distributors, LLC, a Delaware limited liability company (the “Distributor”). Angel Oak Capital Advisors, LLC, a Delaware limited liability company and the investment advisor to the Trust (the “Advisor”), is a party hereto with respect to Sections 3 F. and 6 only.

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FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • October 27th, 2014 • Angel Oak Funds Trust • New York

THIS AGREEMENT is made and entered into as of this 16th day of October, 2014, by and between ANGEL OAK FUNDS TRUST, a Delaware statutory trust (the “Trust”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • October 27th, 2014 • Angel Oak Funds Trust • New York

THIS AGREEMENT is made and entered into as of this 16th day of October, 2014, by and between ANGEL OAK FUNDS TRUST, a Delaware statutory trust (the “Trust”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

ANGEL OAK FUNDS TRUST INVESTMENT ADVISORY AGREEMENT with ANGEL OAK CAPITAL ADVISORS, LLC
Investment Advisory Agreement • October 27th, 2014 • Angel Oak Funds Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 16th. day of October, 2014, by and between Angel Oak Funds Trust, a Delaware statutory 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 Angel Oak Capital Advisors, LLC, a Delaware limited liability corporation (hereinafter called the “Adviser”).

CUSTODY AGREEMENT
Custody Agreement • October 27th, 2014 • Angel Oak Funds Trust • New York

THIS AGREEMENT is made and entered into as of this 16th day of October, 2014, by and between ANGEL OAK FUNDS TRUST, a Delaware statutory trust (the “Trust”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (the “Custodian”).

TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • October 27th, 2014 • Angel Oak Funds Trust • New York

THIS AGREEMENT is made and entered into as of this 16th day of October, 2014, by and between ANGEL OAK FUNDS TRUST, a Delaware statutory trust (the "Trust"), and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company ("USBFS").

ANGEL OAK FUNDS TRUST OPERATING EXPENSE LIMITATION AGREEMENT
Operating Expense Limitation Agreement • October 27th, 2014 • Angel Oak Funds Trust • Delaware

THIS OPERATING EXPENSE LIMITATION AGREEMENT, dated as of October 16, 2014, is made and entered into by and between the Angel Oak Funds Trust, a Delaware statutory trust (the “Trust”), on behalf of each series of the Trust set forth on Schedule A attached hereto, which may be amended from time to time (the “Funds”), and Angel Oak Capital Advisors, LLC (the “Adviser”).

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