ADVISORS SERIES TRUST FIRST AMENDMENT TO THE OPERATING EXPENSES LIMITATION AGREEMENT
FIRST
AMENDMENT TO THE OPERATING EXPENSES LIMITATION AGREEMENT
THIS FIRST AMENDMENT dated as
of the 26th day of
September, 2008, to the Operating Expenses Limitation Agreement, effective as of
the 28th day of
December, 2007, (the “Agreement”), is entered into by and between Advisors Series Trust, a
Delaware statutory trust (the “Trust”), on behalf of the series of the Trust
indicated on Schedule A, which may be amended from time to time, (each a “Fund”
and together the “Funds”) and FundQuest Incorporated, a
Delaware corporation (the “Advisor”).
RECITALS
WHEREAS, the parties have
entered into the Agreement; and
WHEREAS, the parties desire to
amend Appendix A of the Agreement; and
WHEREAS, the introductory
paragraph of the Agreement acknowledges that Appendix A may be amended from time
to time, herein to be accomplished by a written instrument executed by the
parties.
NOW, THEREFORE, the parties
agree as follows:
Appendix
A of the Agreement is hereby superseded and replaced with Appendix A attached
hereto.
Except to
the extent amended hereby, the Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the
parties hereto have caused this First Amendment to be executed by a duly
authorized officer on one or more counterparts as of the date and year first
written above.
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FUNDQUEST
INCORPORATED
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By:
/s/ ▇▇▇▇▇▇▇ ▇.
▇▇▇▇
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By:
/s/ ▇▇▇▇▇▇▇ ▇.
▇▇▇▇▇
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Printed
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
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Printed
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Title: President
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Title:
CIO
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1
APPENDIX
A
to
the
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Operating
Expense Limit
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Fund
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Class
A
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Class
I
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ActivePassive
Emerging Markets Equity Fund
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1.60%
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1.35%
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ActivePassive
Global Bond Fund
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1.20%
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0.95%
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ActivePassive
High Yield Bond Fund
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1.50%
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1.25%
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ActivePassive
Intermediate Municipal Bond Fund
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1.00%
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0.75%
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ActivePassive
Intermediate Taxable Bond Fund
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1.00%
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0.75%
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ActivePassive
International Equity Fund
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1.30%
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1.05%
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ActivePassive
Large Cap Growth Fund
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1.30%
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1.05%
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ActivePassive
Large Cap Value Fund
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1.20%
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0.95%
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ActivePassive
Small/Mid Cap Growth Fund
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1.50%
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1.25%
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ActivePassive
Small/Mid Cap Value Fund
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1.40%
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1.15%
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2