0001144204-14-039608 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • June 26th, 2014 • AdvisorShares Trust • Delaware

AGREEMENT (the “Agreement”) made as of this 25th day of June 2014 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 Pacific Life Fund Advisors LLC, d/b/a PACIFIC ASSET MANAGEMENT, a Delaware limited liability company with its principal place of business at 700 Newport Center Drive, Newport Beach, CA 92660 (“Pacific Asset Management” or the “Sub-Adviser”).

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • June 26th, 2014 • AdvisorShares Trust • Delaware

EXPENSE LIMITATION AGREEMENT, effective as of June 25, 2014 by and between ADVISORSHARES INVESTMENTS, LLC (the “Adviser”) and Pacific Life Fund Advisors LLC, d/b/a PACIFIC ASSET MANAGEMENT (the “Sub-Adviser”) (the “Agreement”).

AMENDMENT TO ADVISORSHARES ADVISORY AGREEMENT
Advisorshares Advisory Agreement • June 26th, 2014 • AdvisorShares Trust

This amendment (the “Amendment”) to the AdvisorShares Advisory Agreement dated June 2, 2009, by and between AdvisorShares Investments, LLC (the “Adviser”) and AdvisorShares Trust (the “Trust”) (the “Agreement”) is effective as of June 25, 2014 (the “Effective Date”).

FORM OF FIFTEENTH AMENDMENT TO ADVISORSHARES®ETF DISTRIBUTION AGREEMENT
Advisorshares® Etf Distribution Agreement • June 26th, 2014 • AdvisorShares Trust

This Fifteenth 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 June 25, 2014 (the “Effective Date”).

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