0000894189-21-003368 Sample Contracts

ANGEL OAK FUNDS TRUST OPERATING EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • May 28th, 2021 • Angel Oak Funds Trust • Delaware

THIS OPERATING EXPENSE LIMITATION AGREEMENT, dated as of March 23, 2021, 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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FIRST AMENDMENT TO THE AMENDED AND RESTATED CUSTODY AGREEMENT
Custody Agreement • May 28th, 2021 • Angel Oak Funds Trust

THIS FIRST AMENDMENT, effective as of May 18, 2021 to the Amended and Restated Custody Agreement dated as of April 1, 2021, as amended (the “Agreement”), is entered into by and among each management investment company identified on Exhibit B attached hereto (each a “Company”), severally and not jointly, each Company acting for and on behalf of such series as are currently authorized and issued by the Company and may be authorized and issued by the applicable Company in the future subsequent to the date of this Agreement and listed on Exhibit B (each such series a “Fund”) Company, and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (the “Custodian”).

FIRST AMENDMENT TO
Distribution Agreement • May 28th, 2021 • Angel Oak Funds Trust • New York

This first amendment (“Amendment”) to the Distribution Agreement (the “Agreement”) dated as of March 31, 2020 by and among Quasar Distributors, LLC (“Foreside”), Angel Oak Funds Trust (the “Trust”) and Angel Oak Capital Advisors, LLC (solely a party with respect to Sections 3 F. and 6 only) (the “Adviser”) is entered into as of March 31, 2021 (the “Effective Date”).

MASTER SERVICING AGREEMENT
Master Servicing Agreement • May 28th, 2021 • Angel Oak Funds Trust

THIS FIRST AMENDMENT, effective as of May 18, 2021, to the Master Servicing Agreement, dated as of April 1, 2021 (the “Agreement”), by and among each management investment company identified on Exhibit A attached hereto (each a “Company”), severally and not jointly, each Company acting on behalf of itself or for and on behalf of such series as are currently authorized and issued by the Company and may be authorized and issued by the applicable Company in the future subsequent to the date of this Agreement and listed on Exhibit A (each such series a “Fund”) and U.S. BANCORP FUND SERVICES, LLC d/b/a U.S. BANK GLOBAL FUND SERVICES, a Wisconsin limited liability company (“USBFS”).

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