0001144204-10-026211 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • May 11th, 2010 • AdvisorShares Trust • Delaware

AGREEMENT made as of this 10th day of May, 2010 by and between AdvisorShares Investments, LLC, a Delaware limited liability company with its principal place of business at 3 Bethesda Metro Center, Suite 700, Bethesda MD, 20814 (the “Adviser”) and Peritus I Asset Management, LLC, a California limited liability company with its principal place of business at 26 West Anapamu, 3rd Floor, Santa Barbara, CA 93103 (the “Sub-Adviser”).

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • May 11th, 2010 • AdvisorShares Trust

EXPENSE LIMITATION AGREEMENT, effective as of May 10, 2010 by and between ADVISORSHARES INVESTMENTS, LLC (the "Adviser") and PERITUS I ASSET MANAGEMENT, LLC (the "Sub-Adviser") (the "Agreement").

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