0001144204-11-037754 Sample Contracts

EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • June 27th, 2011 • AdvisorShares Trust

EXPENSE LIMITATION AGREEMENT, effective as of June 22, 2011 by and between ADVISORSHARES INVESTMENTS, LLC (the "Adviser") and ROCKLEDGE ADVISORS LLC (the "Sub-Adviser") (the "Agreement").

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INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • June 27th, 2011 • AdvisorShares Trust • Delaware

AGREEMENT made as of this 22nd day of June, 2011 by and between AdvisorShares Investments, LLC, a Delaware limited liability company with its principal place of business at 2 Bethesda Metro Center, Suite 1330, Bethesda MD, 20814 (the “Adviser”) and Rockledge Advisors LLC, a Delaware limited liability company with its principal place of business at 460 Classon Avenue, Brooklyn, NY 11238 (the “Sub-Adviser”).

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