0001144204-10-037333 Sample Contracts

ADVISORY AGREEMENT
Advisory Agreement • July 9th, 2010 • AdvisorShares Trust • Delaware

ADVISORY AGREEMENT made as of this 2nd day of June, 2009 by and between ADVISORSHARES TRUST (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), and 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”).

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • July 9th, 2010 • AdvisorShares Trust

EXPENSE LIMITATION AGREEMENT, effective as of June 2, 2009 by and between ADVISORSHARES INVESTMENTS, LLC (the “Adviser”) and ADVISORSHARES TRUST (the “Trust”) (the “Agreement”), on behalf of each series of the Trust set forth in Schedule A attached hereto (each a “Fund,” and collectively, the “Funds”).

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