0001144204-15-061249 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • October 28th, 2015 • AdvisorShares Trust • Delaware

AGREEMENT made as of the 18th day of September 2015 by and between AdvisorShares Investments, LLC, a Delaware limited liability company with its principal place of business at 4800 Montgomery Lane, Suite 150, Bethesda, MD 20814 (the “Adviser”), and TrimTabs Asset Management, LLC, a Delaware limited liability company with its principal place of business at 3 Harbor Drive, Suite 112, Sausalito, CA 94965 (the “Sub-Adviser”).

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • October 28th, 2015 • AdvisorShares Trust

AGREEMENT effective as of September 18, 2015 by and between AdvisorShares Investments, LLC (the “Adviser”) and TrimTabs Asset Management, LLC (the “Sub-Adviser”) (the “Agreement”).

FIRST AMENDMENT TO ADVISORSHARES ETF DISTRIBUTION AGREEMENT
Distribution Agreement • October 28th, 2015 • AdvisorShares Trust

This First Amendment (the “Amendment”) to the AdvisorShares Trust ETF Distribution Agreement dated as of June 25, 2009, by and between AdvisorShares Trust, a Delaware statutory trust (the “Trust”) and Foreside Fund Services, LLC, a Delaware limited liability company (the “Distributor”) is effective as of November 23, 2009 (the “Effective Date”).

SECOND AMENDMENT TO ADVISORSHARES ETF DISTRIBUTION AGREEMENT
Etf Distribution Agreement • October 28th, 2015 • AdvisorShares Trust

This Second Amendment (the “Amendment”) to the AdvisorShares Trust ETF Distribution Agreement dated as of June 25, 2009, by and between AdvisorShares Trust, a Delaware statutory trust (the “Trust”) and Foreside Fund Services, LLC, a Delaware limited liability company (the “Distributor”) is effective as of May 11, 2010 (the “Effective Date”).

SEVENTH AMENDMENT TO ADVISORSHARES ETF DISTRIBUTION AGREEMENT
Etf Distribution Agreement • October 28th, 2015 • AdvisorShares Trust

This Seventh 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 December 19, 2012 (the “Effective Date”).

THIRD AMENDMENT TO ADVISORSHARES ETF DISTRIBUTION AGREEMENT
Etf Distribution Agreement • October 28th, 2015 • AdvisorShares Trust

This Third Amendment (the “Amendment”) to the AdvisorShares Trust ETF Distribution Agreement dated as of June 25, 2009, by and between AdvisorShares Trust, a Delaware statutory trust (the “Trust”) and Foreside Fund Services, LLC, a Delaware limited liability company (the “Distributor”) is effective as of September 13, 2010 (the “Effective Date”).

FOURTH AMENDMENT TO ADVISORSHARES ETF DISTRIBUTION AGREEMENT
Etf Distribution Agreement • October 28th, 2015 • AdvisorShares Trust

This Fourth Amendment (the “Amendment”) to the AdvisorShares Trust ETF Distribution Agreement dated as of June 25, 2009, by and between AdvisorShares Trust, a Delaware statutory trust (the “Trust”) and Foreside Fund Services, LLC, a Delaware limited liability company (the “Distributor”) is effective as of February 14, 2011 (the “Effective Date”).

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