0001144204-13-045270 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • August 13th, 2013 • AdvisorShares Trust • Delaware

AGREEMENT (the “Agreement”) made as of this 31st day of July, 2013 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 Sage Advisory Services, Ltd. Co., a Texas limited liability company with its principal place of business at 5900 Southwest Parkway, Building I, Austin, Texas 78735 (the “Sub-Adviser”).

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • August 13th, 2013 • AdvisorShares Trust • Delaware

EXPENSE LIMITATION AGREEMENT, effective as of July 31, 2013 by and between ADVISORSHARES INVESTMENTS, LLC (the “Adviser”) and Sage Advisory Services, Ltd. Co. (the “Sub-Adviser”) (the “Agreement”).

TENTH AMENDMENT TO ADVISORSHARES ETF DISTRIBUTION AGREEMENT
Advisorshares Etf Distribution Agreement • August 13th, 2013 • AdvisorShares Trust

This tenth Amendment (the "Amendment") to the AdvisorShares Trust ETF Distribution Agreement (the "Agreement") dated as of June 25, 2009, as amended from time to time, by and between AdvisorShares Trust, a Delaware statutory trust (the "Trust") and Foreside Fund Services, LLC, a Delaware limited liability company (the "Distributor") is entered into as of August 12, 2013 (the "Effective Date").

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