0000894189-04-000692 Sample Contracts

ADVISORS SERIES TRUST INVESTMENT ADVISORY AGREEMENT Capital Advisors, Inc.
Investment Advisory Agreement • April 27th, 2004 • Advisors Series Trust • Arizona

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 7th day of December, 1998, by and between ADVISORS SERIES TRUST, a Delaware business trust (hereinafter called the "Trust"), on behalf of the following series of the Trust, Capital Advisors Growth Fund (the "Fund") and Capital Advisors, Inc., a Delaware corporation (hereinafter called the "Advisor").

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ADVISORS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • April 27th, 2004 • Advisors Series Trust • Arizona

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the "Agreement") is, effective as of December 20, 1999, by and between ADVISORS SERIES TRUST, a Delaware business trust (the "Trust"), on behalf of the Capital Advisors Growth Fund (the "Fund"), a series of the Trust and the Advisor of the Fund, Capital Advisors, Inc., a Delaware corporation (the "Advisor").

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