0000894189-09-000194 Sample Contracts

ADVISORS SERIES TRUST INVESTMENT ADVISORY AGREEMENT Chase Mid Cap Growth Fund
Investment Advisory Agreement • January 27th, 2009 • Advisors Series Trust • California

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 21st day of July, 2004, by and between Advisors Series Trust, a Delaware business trust (hereinafter called the "Trust"), on behalf of the following series of the Trust, Chase Mid Cap Growth Fund (the "Fund") and Chase Investment Counsel Corp, a Virginia Corporation (hereinafter called the "Advisor").

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ADDENDUM TO THE FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • January 27th, 2009 • Advisors Series Trust

THIS ADDENDUM dated as of the 24th day of August, 2007, to the Fund Administration Servicing Agreement, dated as of June 8, 2006 (the "Agreement"), is entered by and between ADVISORS SERIES TRUST, a Massachusetts business trust (the "Trust") on behalf of its separate series of the Al Frank Fund, the Al Frank Dividend Value Fund, the Pacific Income Advisor Fund and the Chase Fund and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company ("USBFS").

ADVISORS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Advisors Series Trust • January 27th, 2009 • Advisors Series Trust • California

THIS OPERATION EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of July 21, 2004 by and between ADVISORS SERIES TRUST, a Delaware business trust (the “Trust”), on behalf of the Chase Mid Cap Growth Fund (the “Fund”), a series of the Trust, and the Advisor of the Fund, Chase Investment Counsel Corp. (the “Advisor”).

AMENDMENT TO THE ADVISORS SERIES TRUST CUSTODY AGREEMENT
Advisors Series Trust • January 27th, 2009 • Advisors Series Trust

THIS AMENDMENT dated as of the 5th day of June, 2008, to the Custody Agreement, dated as of June 6, 2006, as amended (the "Custody Agreement"), is entered into by and between Advisors Series Trust, a Delaware statutory trust (the "Trust") on behalf of its separate series, the Chase Growth Fund and the Chase Mid-Cap Growth Fund and U.S. Bank National Association, a national banking association (the "Custodian").

ADVISORS SERIES TRUST FIRST AMENDMENT TO THE OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • January 27th, 2009 • Advisors Series Trust

THIS AMENDMENT, dated as of this 11th day of December, 2008, to the Operating Expenses Limitation Agreement, originally made and entered into on July 21, 2004 (the “Agreement”), is entered into by and between ADVISORS SERIES TRUST, a Delaware statutory trust (the “Trust”), on behalf of the Chase Mid-Cap Growth Fund (the “Fund”), a series of the Trust, and the Advisor of the Funds, Chase Investment Counsel Corporation (the “Advisor”).

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