0001144204-12-036318 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • June 25th, 2012 • AdvisorShares Trust • Delaware

AGREEMENT made as of this 28th day of October, 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, Maryland 20814 (the “Adviser”) and First Affirmative Financial Network, LLC, a Colorado limited liability company, with its principal place of business at 5475 Mark Dabling Boulevard, Suite 108, Colorado Springs, Colorado 80918 (the “Sub-Adviser”).

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INTERIM INVESTMENT SUB-ADVISORY AGREEMENT
Interim Investment Sub-Advisory Agreement • June 25th, 2012 • AdvisorShares Trust • Delaware

AGREEMENT made as of this 21st day of May, 2012 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 American Retirement Planners, Inc., a Nevada corporation with its principal place of business at 570 Hammill Lane, Reno, NV 89511 (the “Sub-Adviser”).

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • June 25th, 2012 • AdvisorShares Trust

EXPENSE LIMITATION AGREEMENT, effective as of December 21, 2011 by and between ADVISORSHARES INVESTMENTS, LLC (the “Adviser”) and COMMERCE ASSET MANAGEMENT, LLC (the “Sub-Adviser”) (the “Agreement”).

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FORM OF EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • June 25th, 2012 • AdvisorShares Trust • Delaware

EXPENSE LIMITATION AGREEMENT, effective as of ___________, 2012 by and between ADVISORSHARES INVESTMENTS, LLC (the “Adviser”) and ________________ (the “Sub-Adviser”) (the “Agreement”). [Insert name of Affiliate and/or Parent] joins this Agreement solely for purposes of Section 4.1 and any obligations arising thereunder.

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FORM OF INVESTMENT SUB-ADVISORY AGREEMENT
Form Of • June 25th, 2012 • AdvisorShares Trust • Delaware
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INTERIM EXPENSE LIMITATION AGREEMENT
Interim Expense Limitation Agreement • June 25th, 2012 • AdvisorShares Trust

INTERIM EXPENSE LIMITATION AGREEMENT, effective as of June 2, 2012 by and between ADVISORSHARES INVESTMENTS, LLC (the "Adviser") and (the "Sub-Adviser") (the "Agreement"). American Retirement Planners, Inc., a Nevada corporation with its principal place of business at 570 Hammill Lane, Reno, NV 89511

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