0000894189-18-001085 Sample Contracts

ADVISORS SERIES TRUST INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • February 23rd, 2018 • Advisors Series Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 25th day of August, 2017, by and between Advisors Series Trust, a Delaware statutory trust (the "Trust"), on behalf of the series of the Trust indicated on Schedule A, which may be amended from time to time, (the "Fund") and the investment adviser of the Fund, Fort Pitt Capital Group, LLC, a Delaware limited liability company (the "Advisor").

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ADVISORS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • February 23rd, 2018 • Advisors Series Trust • Delaware

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the "Agreement") is effective as of August 25, 2017 by and between ADVISORS SERIES TRUST, a Delaware statutory trust (the "Trust"), on behalf of the series of the Trust listed on Schedule A, which may be amended from time to time (the "Fund"), and the Advisor of the Fund, Fort Pitt Capital Group, LLC, a Delaware limited liability company (the "Advisor").

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