Common use of Reporting and Message Fees Clause in Contracts

Reporting and Message Fees. The following fees will apply in respect of client requested SWIFT reports and messages: − Cash Reporting · MT900 – Cash Debit Advice$____ each · MT910 – Cash Credit Advice$____ each · MT940 – Detail Cash Statement$____ per message · MT950 – Cash Statement$____ per message − Securities Position Reporting ● MT535 – Statement of Holdings$____ per message (One MT535 will be issued per account per month free of charge) ● MT536 – Statement of Transactions$____ per message ● MT537 – Statement of Pendings$____ per message − Confirmations · MT544 – Receive Free Confirm$____ per message · MT545 – Receive Against Payment Confirm$____ per message · MT546 – Deliver Free Confirm$____ per message · MT547 – Deliver Against Payment Confirm$____ per message − Facsimile Reporting Fees · Corporate Actions Notifications$____ per notification · Cash and Securities Reports$____ per page Out of Pocket Expenses § Charges incurred by The Bank of New York for local taxes, stamp duties or other local duties and assessments, stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred. § A surcharge may be added to certain out-of-pocket expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate. Amended Exhibit D to the Custody Agreement – Global Real Estate Investments Fund CLOSED-END FUND CUSTODY SERVICES – Annual Fee Schedule at July, 2010 NOTE: All schedules subject to change depending upon the use of derivatives – options, futures, short sales, etc. Conversion, multiple classes, master/feeder and multiple manager funds, and extraordinary services quoted separately. Chief Compliance Officer Support Fee* § $____ /service per year Custody Annual Fee Based Upon Market Value Per Fund* ____ basis point on average daily market value Minimum annual fee per fund - $____ Plus portfolio transaction fees Custody Portfolio Transaction Fees $____ per book entry DTC transaction/Federal Reserve transaction/principal paydown $____ per short sale $____ per U.S. Bank repurchase agreement transaction $____ per option/future contract written, exercised or expired $____ per mutual fund trade/Fed wire/margin variation Fed wire $____ per physical transaction $____ per disbursement (waived if U.S. Bancorp is Administrator) $____ per segregated account per year § A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender, or exchange. § No charge for the initial conversion free receipt. § Overdrafts – charged to the account at prime interest rate plus ____. Out-Of-Pocket Expenses Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, extraordinary expenses based upon complexity, and all other out-of-pocket expenses. Out of pocket expenses invoiced to the Fund shall be the same as USBFS’ cost. Fees are billed monthly. *Subject to annual CPI increase, Milwaukee MSA. Amended Exhibit D to the Custody Agreement – Global Real Estate Investments Fund GLOBAL SUB-CUSTODIAL SERVICES ANNUAL FEE SCHEDULE at January, 2012 Country Instrument Safekeeping (BPS) Transaction Fee Country Instrument Safekeeping (BPS) Transaction Fee Argentina All ____ $____ Latvia Bonds ____ $____ Australia All ____ $____ Lebanon All ____ $____ Austria All ____ $____ Lithuania All ____ $____ Bahrain All ____ $____ Luxembourg All ____ $____ Bangladesh All ____ $____ Malaysia All ____ $____ Belgium All ____ $____ Mali* All ____ $____ Benin* All ____ $____ Malta All ____ $____ Bermuda All ____ $____ Mauritius All ____ $____ Botswana All ____ $____ Mexico All ____ $____ Brazil All ____ $____ Morocco All ____ $____ Bulgaria All ____ $____ Namibia All ____ $____ Burkina Faso* All ____ $____ Netherlands All ____ $____ Canada All ____ $____ New Zealand All ____ $____ Cayman Islands* All ____ $____ Niger* All ____ $____ Channel Islands* All ____ $____ Nigeria All ____ $____ Chile All ____ $____ Norway All ____ $____ China“A” Shares All ____ $____ Oman All ____ $____ China“B” Shares All ____ $____ Pakistan All ____ $____ Columbia All ____ $____ Peru All ____ $____ Costa Rica All ____ $____ Philippines All ____ $____ Croatia All ____ $____ Poland All ____ $____ Cyprus* All ____ $____ Portugal All ____ $____ Czech Republic All ____ $____ Qatar All ____ $____ Denmark All ____ $____ Romania All ____ $____ Ecuador All ____ $____ Russia Equities/Bonds ____ $____ Egypt All ____ $____ Russia MINFIN ____ $____ Estonia All ____ $____ Senegal* All ____ $____ Euromarkets(3) All ____ $____ Singapore All ____ $____ Finland All ____ $____ Slovak Republic All ____ $____ France All ____ $____ Slovenia All ____ $____ Germany All ____ $____ South Africa All ____ $____ Ghana All ____ $____ South Korea All ____ $____ Greece All ____ $____ Spain All ____ $____ Guinea Bissau* All ____ $____ Sri Lanka All ____ $____ Hong Kong All ____ $____ Swaziland All ____ $____ Hungary All ____ $____ Sweden All ____ $____ Iceland All ____ $____ Switzerland All ____ $____ India All ____ $____ Taiwan All ____ $____ Indonesia All ____ $____ Thailand All ____ $____ Ireland Equities ____ $____ Togo* All ____ $____ Ireland Gov’t Bonds ____ $____ Trinidad & Tobago* All ____ $____ Israel All ____ $____ Tunisia All ____ $____ Italy All ____ $____ Turkey All ____ $____ Ivory Coast All ____ $____ UAE All ____ $____ Jamaica* All ____ $____ United Kingdom All ____ $____ Japan All ____ $____ Ukraine All ____ $____ Jordan All ____ $____ Uruguay All ____ $____ Kazakhstan All ____ $____ Venezuela All ____ $____ Kenya All ____ $____ Vietnam* All ____ $____ Latvia Equities ____ $____ Zambia All ____ $____ * Additional customer documentation and indemnification will be required prior to establishing accounts in these markets. Base Fee - A monthly base charge of $____ per account (fund) will apply. § Fee is expressed in basis points per annum where one basis point equals one hundredth of one percent (.01%) and is calculated based upon month-end market value, unless stated otherwise. § A transaction is defined as a receipt or delivery versus payment, a free receive or deliver, maturities, or security transaction related to corporate events. § Euroclear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). § For all other markets specified above, surcharges may apply if a security is held outside of the local market. Straight Through Processing – fees waived. For non-US resident clients investing in the U.S. market: Fees for US custody are provided on the basis that if assets are held in an omnibus account for multiple underlying clients, the Client will take the necessary action to attain Qualified Intermediary (QI) status for US IRS withholding tax purposes. Should the Client fail to take the necessary action, the fee quoted would be subject to review, and all costs incurred by The Bank of New York in fulfilling its obligations under the US regulations would be passed to the Client. Please refer to the separate Non-Resident Alien (NRA) fee schedule. Note: For the clients who are the sole beneficial owner of the assets held in their account with The Bank of New York and the client has provided a “W8Ben” form per account stating their ownership of the assets, the above will not apply. Cash Transactions: § Currency Trade - $____ per transaction § 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a third party will be charged $____. Standard Non-U.S. Proxy Services Fees: § Notification $____ § Vote $____ § Relationship Set Up Fee $____ Tax Reclamation Services: May be subject to additional charges depending upon the service level agreed. Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $____ per claim. Communication Fees:

Reporting and Message Fees. The following fees will apply in respect of client requested SWIFT reports and messages: − Cash Reporting · MT900 – Cash Debit Advice$____ Advice $[ ] each · MT910 – Cash Credit Advice$____ Advice $[ ] each · MT940 – Detail Cash Statement$____ Statement $[ ] per message · MT950 – Cash Statement$____ Statement $[ ] per message − Securities Position Reporting ● · MT535 – Statement of Holdings$____ Holdings $[ ] per message (One MT535 will be issued per account per month free of charge) ● · MT536 – Statement of Transactions$____ Transactions $[ ] per message ● · MT537 – Statement of Pendings$____ Pendings $[ ] per message − Confirmations · MT544 – Receive Free Confirm$____ Confirm $[ ] per message · MT545 – Receive Against Payment Confirm$____ Confirm $[ ] per message · MT546 – Deliver Free Confirm$____ Confirm $[ ] per message · MT547 – Deliver Against Payment Confirm$____ Confirm $[ ] per message − Facsimile Reporting Fees · Corporate Actions Notifications$____ Notifications $[ ] per notification · Cash and Securities Reports$____ Reports $[ ] per page Out of Pocket Expenses § Charges incurred by The Bank of New York for local taxes, stamp duties or other local duties and assessments, stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred. § A surcharge may be added to certain out-of-pocket expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate. Amended Exhibit D N to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement – Global Real Estate Investments Name of Series Nxxxxxx Tactical Return Fund CLOSED-END FUND Multiple Series Trust DOMESTIC CUSTODY SERVICES – Annual Fee Schedule FEE SCHEDULE at JulyDecember, 2010 NOTE: All schedules subject to change depending upon the use of derivatives – options, futures, short sales, etc. Conversion, multiple classes, master/feeder and multiple manager funds, and extraordinary services quoted separately. Chief Compliance Officer Support Fee* § $____ /service per year Custody 2009 Annual Fee Based Upon Market Value Per Fund* ____ [ ] basis point on average daily market value Minimum annual fee per fund - $____ [ ] Plus portfolio transaction fees Custody Portfolio Transaction Fees $____ $ [ ] per book entry DTC transaction/Federal Reserve transaction/U.S. Bank repo agreement transaction $ [ ] per principal paydown $____ $ [ ] per short sale $____ per U.S. Bank repurchase agreement transaction $____ $ [ ] per option/future contract written, exercised or expired $____ $ [ ] per mutual fund trade/Fed wire/margin variation Fed wire $____ $ [ ] per physical transaction $____ per disbursement (waived if U.S. Bancorp is Administrator) $____ $ [ ] per segregated account per year § A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender, tender or exchange. § No charge for the initial conversion free receipt. § Overdrafts – charged to the account at prime interest rate plus ____[ ]. Out-Of-Pocket Expenses Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, and extraordinary expenses based upon complexity, and all other out-of-pocket expenses. Out of pocket expenses invoiced to the Fund shall be the same as USBFS’ cost. Fees are billed monthly. *Subject to annual CPI increase, Milwaukee MSA. Amended Advisor signature is not required at December 6, 2012 as the custody fees are not changing. Exhibit D N (continued) to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement – Global Real Estate Investments Fund GLOBAL SUB-CUSTODIAL SERVICES ANNUAL FEE SCHEDULE at JanuaryDecember, 2012 2009 Country Instrument Safekeeping (BPS) Transaction Fee Country Instrument Safekeeping (BPS) Transaction Fee Argentina All ____ $____ [ ] [ ] Latvia Bonds ____ $____ [ ] [ ] Australia All ____ $____ [ ] [ ] Lebanon All ____ $____ [ ] [ ] Austria All ____ $____ [ ] [ ] Lithuania All ____ $____ [ ] [ ] Bahrain All ____ $____ [ ] [ ] Luxembourg All ____ $____ [ ] [ ] Bangladesh All ____ $____ [ ] [ ] Malaysia All ____ $____ [ ] [ ] Belgium All ____ $____ [ ] [ ] Mali* All ____ $____ [ ] [ ] Benin* All ____ $____ [ ] [ ] Malta All ____ $____ [ ] [ ] Bermuda All ____ $____ [ ] [ ] Mauritius All ____ $____ [ ] [ ] Botswana All ____ $____ [ ] [ ] Mexico All ____ $____ [ ] [ ] Brazil All ____ $____ [ ] [ ] Morocco All ____ $____ [ ] [ ] Bulgaria All ____ $____ [ ] [ ] Namibia All ____ $____ [ ] [ ] Burkina Faso* All ____ $____ [ ] [ ] Netherlands All ____ $____ [ ] [ ] Canada All ____ $____ [ ] [ ] New Zealand All ____ $____ [ ] [ ] Cayman Islands* All ____ $____ [ ] [ ] Niger* All ____ $____ [ ] [ ] Channel Islands* All ____ $____ [ ] [ ] Nigeria All ____ $____ [ ] [ ] Chile All ____ $____ [ ] [ ] Norway All ____ $____ [ ] [ ] China“A” Shares All ____ $____ [ ] [ ] Oman All ____ $____ [ ] [ ] China“B” Shares All ____ $____ [ ] [ ] Pakistan All ____ $____ [ ] [ ] Columbia All ____ $____ [ ] [ ] Peru All ____ $____ [ ] [ ] Costa Rica All ____ $____ [ ] [ ] Philippines All ____ $____ [ ] [ ] Croatia All ____ $____ [ ] [ ] Poland All ____ $____ [ ] [ ] Cyprus* All ____ $____ [ ] [ ] Portugal All ____ $____ [ ] [ ] Czech Republic All ____ $____ [ ] [ ] Qatar All ____ $____ [ ] [ ] Denmark All ____ $____ [ ] [ ] Romania All ____ $____ [ ] [ ] Ecuador All ____ $____ [ ] [ ] Russia Equities/Bonds ____ $____ [ ] [ ] Egypt All ____ $____ [ ] [ ] Russia MINFIN ____ $____ [ ] [ ] Estonia All ____ $____ [ ] [ ] Senegal* All ____ $____ [ ] [ ] Euromarkets(3) All ____ $____ [ ] [ ] Singapore All ____ $____ [ ] [ ] Finland All ____ $____ [ ] [ ] Slovak Republic All ____ $____ [ ] [ ] France All ____ $____ [ ] [ ] Slovenia All ____ $____ [ ] [ ] Germany All ____ $____ [ ] [ ] South Africa All ____ $____ [ ] [ ] Ghana All ____ $____ [ ] [ ] South Korea All ____ $____ [ ] [ ] Greece All ____ $____ [ ] [ ] Spain All ____ $____ [ ] [ ] Guinea Bissau* All ____ $____ [ ] [ ] Sri Lanka All ____ $____ [ ] [ ] Hong Kong All ____ $____ [ ] [ ] Swaziland All ____ $____ [ ] [ ] Hungary All ____ $____ [ ] [ ] Sweden All ____ $____ [ ] [ ] Iceland All ____ $____ [ ] [ ] Switzerland All ____ $____ [ ] [ ] India All ____ $____ [ ] [ ] Taiwan All ____ $____ [ ] [ ] Indonesia All ____ $____ [ ] [ ] Thailand All ____ $____ [ ] [ ] Ireland Equities ____ $____ [ ] [ ] Togo* All ____ $____ [ ] [ ] Ireland Gov’t Bonds ____ $____ [ ] [ ] Trinidad & Tobago* All ____ $____ [ ] [ ] Israel All ____ $____ [ ] [ ] Tunisia All ____ $____ [ ] [ ] Italy All ____ $____ [ ] [ ] Turkey All ____ $____ [ ] [ ] Ivory Coast All ____ $____ [ ] [ ] UAE All ____ $____ [ ] [ ] Jamaica* All ____ $____ [ ] [ ] United Kingdom All ____ $____ [ ] [ ] Japan All ____ $____ [ ] [ ] Ukraine All ____ $____ [ ] [ ] Jordan All ____ $____ [ ] [ ] Uruguay All ____ $____ [ ] [ ] Kazakhstan All ____ $____ [ ] [ ] Venezuela All ____ $____ [ ] [ ] Kenya All ____ $____ [ ] [ ] Vietnam* All ____ $____ [ ] [ ] Latvia Equities ____ $____ [ ] [ ] Zambia All ____ $____ [ ] [ ] * Additional customer documentation and indemnification will be required prior to establishing accounts in these markets. Base Fee - A monthly base charge of $____ [ ] per account (fund) will apply. § Fee is expressed in basis points per annum where one basis point equals one hundredth of one percent (.01[ ]%) and is calculated based upon month-end market value, unless stated otherwise. § A transaction is defined as a receipt or delivery versus payment, a free receive or deliver, maturities, or security transaction related to corporate events. § Euroclear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). § Exhibit N (continued) to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement − For all other markets specified above, surcharges may apply if a security is held outside of the local market. Straight Through Processing – - fees waived. For non-US resident clients investing in the U.S. market: market - Fees for US custody are provided on the basis that if assets are held in an omnibus account for multiple underlying clients, the Client will take the necessary action to attain Qualified Intermediary (QI) status for US IRS withholding tax purposes. Should the Client fail to take the necessary action, the fee quoted would be subject to review, and all costs incurred by The Bank of New York in fulfilling its obligations under the US regulations would be passed to the Client. Please refer to the separate Non-Resident Alien (NRA) fee schedule. Note: For the clients who are the sole beneficial owner of the assets held in their account with The Bank of New York and the client has provided a “W8Ben” form per account stating their ownership of the assets, the above will not apply. Cash Transactions: § Currency Trade - $____ per transaction § 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a third party will be charged $____. Standard Non-U.S. Proxy Services Fees: § Notification $____ § Vote $____ § Relationship Set Up Fee $____ Tax Reclamation Services: May be subject to additional charges depending upon the service level agreed. Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $____ per claim. Communication Fees:.

Reporting and Message Fees. The following fees will apply in respect of client requested SWIFT reports and messages: − Cash Reporting · MT900 – Cash Debit Advice$____ each · MT910 – Cash Credit Advice$____ each · MT940 – Detail Cash Statement$____ per message · MT950 – Cash Statement$____ per message − Securities Position Reporting ● MT535 – Statement of Holdings$____ per message (One MT535 will be issued per account per month free of charge) ● MT536 – Statement of Transactions$____ per message ● MT537 – Statement of Pendings$____ per message − Confirmations · MT544 – Receive Free Confirm$____ per message · MT545 – Receive Against Payment Confirm$____ per message · MT546 – Deliver Free Confirm$____ per message · MT547 – Deliver Against Payment Confirm$____ per message − Facsimile Reporting Fees · Corporate Actions Notifications$____ per notification · Cash and Securities Reports$____ per page Out of Pocket Expenses § Charges incurred by The Bank of New York for local taxes, stamp duties or other local duties and assessments, stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred. § A surcharge may be added to certain out-of-pocket expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate. Amended Exhibit D to the Custody Agreement – Global Real Estate Investments Fund CLOSED-END FUND CUSTODY SERVICES – Annual Fee Schedule at July, 2010 NOTE: All schedules subject to change depending upon the use of derivatives – options, futures, short sales, etc. Conversion, multiple classes, master/feeder and multiple manager funds, and extraordinary services quoted separately. Chief Compliance Officer Support Fee* § $____ /service per year Custody Annual Fee Based Upon Market Value Per Fund* ____ basis point on average daily market value Minimum annual fee per fund - $____ Plus portfolio transaction fees Custody Portfolio Transaction Fees $____ per book entry DTC transaction/Federal Reserve transaction/principal paydown $____ per short sale $____ per U.S. Bank repurchase agreement transaction $____ per option/future contract written, exercised or expired $____ per mutual fund trade/Fed wire/margin variation Fed wire $____ per physical transaction $____ per disbursement (waived if U.S. Bancorp is Administrator) $____ per segregated account per year § A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender, or exchange. § No charge for the initial conversion free receipt. § Overdrafts – charged to the account at prime interest rate plus ____. Out-Of-Pocket Expenses Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, extraordinary expenses based upon complexity, and all other out-of-pocket expenses. Out of pocket expenses invoiced to the Fund shall be the same as USBFS’ cost. Fees are billed monthly. *Subject to annual CPI increase, Milwaukee MSA. Amended Exhibit D to the Custody Agreement – Global Real Estate Investments Fund GLOBAL SUB-CUSTODIAL SERVICES ANNUAL FEE SCHEDULE at January, 2012 2011 Country Instrument Safekeeping (BPS) Transaction Fee Country Instrument Safekeeping (BPS) Transaction Fee Argentina All ____ $____ Latvia Bonds ____ $____ Australia All ____ $____ Lebanon All ____ $____ Austria All ____ $____ Lithuania All ____ $____ Bahrain All ____ $____ Luxembourg All ____ $____ Bangladesh All ____ $____ Malaysia All ____ $____ Belgium All ____ $____ Mali* All ____ $____ Benin* All ____ $____ Malta All ____ $____ Bermuda All ____ $____ Mauritius All ____ $____ Botswana All ____ $____ Mexico All ____ $____ Brazil All ____ $____ Morocco All ____ $____ Bulgaria All ____ $____ Namibia All ____ $____ Burkina Faso* All ____ $____ Netherlands All ____ $____ Canada All ____ $____ New Zealand All ____ $____ Cayman Islands* All ____ $____ Niger* All ____ $____ Channel Islands* All ____ $____ Nigeria All ____ $____ Chile All ____ $____ Norway All ____ $____ China“A” Shares All ____ $____ Oman All ____ $____ China“B” Shares All ____ $____ Pakistan All ____ $____ Columbia All ____ $____ Peru All ____ $____ Costa Rica All ____ $____ Philippines All ____ $____ Croatia All ____ $____ Poland All ____ $____ Cyprus* All ____ $____ Portugal All ____ $____ Czech Republic All ____ $____ Qatar All ____ $____ Denmark All ____ $____ Romania All ____ $____ Ecuador All ____ $____ Russia Equities/Bonds ____ $____ Egypt All ____ $____ Russia MINFIN ____ $____ Estonia All ____ $____ Senegal* All ____ $____ Euromarkets(3) All ____ $____ Singapore All ____ $____ Finland All ____ $____ Slovak Republic All ____ $____ France All ____ $____ Slovenia All ____ $____ Germany All ____ $____ South Africa All ____ $____ Ghana All ____ $____ South Korea All ____ $____ Greece All ____ $____ Spain All ____ $____ Guinea Bissau* All ____ $____ Sri Lanka All ____ $____ Hong Kong All ____ $____ Swaziland All ____ $____ Hungary All ____ $____ Sweden All ____ $____ Iceland All ____ $____ Switzerland All ____ $____ India All ____ $____ Taiwan All ____ $____ Indonesia All ____ $____ Thailand All ____ $____ Ireland Equities ____ $____ Togo* All ____ $____ Ireland Gov’t Bonds ____ $____ Trinidad & Tobago* All ____ $____ Israel All ____ $____ Tunisia All ____ $____ Italy All ____ $____ Turkey All ____ $____ Ivory Coast All ____ $____ UAE All ____ $____ Jamaica* All ____ $____ United Kingdom All ____ $____ Japan All ____ $____ Ukraine All ____ $____ Jordan All ____ $____ Uruguay All ____ $____ Kazakhstan All ____ $____ Venezuela All ____ $____ Kenya All ____ $____ Vietnam* All ____ $____ Latvia Equities ____ $____ Zambia All ____ $____ * Additional customer documentation and indemnification will be required prior to establishing accounts in these markets. Base Fee - A monthly base charge of $____ per account (fund) will apply. § Fee is expressed in basis points per annum where one basis point equals one hundredth of one percent (.01%) and is calculated based upon month-end market value, unless stated otherwise. § A transaction is defined as a receipt or delivery versus payment, a free receive or deliver, maturities, or security transaction related to corporate events. § Euroclear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). § For all other markets specified above, surcharges may apply if a security is held outside of the local market. Straight Through Processing – fees waived. For non-US resident clients investing in the U.S. market: Fees for US custody are provided on the basis that if assets are held in an omnibus account for multiple underlying clients, the Client will take the necessary action to attain Qualified Intermediary (QI) status for US IRS withholding tax purposes. Should the Client fail to take the necessary action, the fee quoted would be subject to review, and all costs incurred by The Bank of New York in fulfilling its obligations under the US regulations would be passed to the Client. Please refer to the separate Non-Resident Alien (NRA) fee schedule. Note: For the clients who are the sole beneficial owner of the assets held in their account with The Bank of New York and the client has provided a “W8Ben” form per account stating their ownership of the assets, the above will not apply. Cash Transactions: § Currency Trade - $____ per transaction § 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a third party will be charged $____. Standard Non-U.S. Proxy Services Fees: § Notification $____ § Vote $____ § Relationship Set Up Fee $____ Tax Reclamation Services: May be subject to additional charges depending upon the service level agreed. Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $____ per claim. Communication Fees:

Reporting and Message Fees. The following fees will apply in respect of client requested SWIFT reports and messages: − Cash Reporting · ● MT900 – Cash Debit Advice$____ Advice $[ ] each · MT910 – Cash Credit Advice$____ Advice $[ ] each · MT940 – Detail Cash Statement$____ Statement $[ ] per message · MT950 – Cash Statement$____ Statement $[ ] per message − Securities Position Reporting ● · MT535 – Statement of Holdings$____ Holdings $[ ] per message (One MT535 will be issued per account per month free of charge) ● · MT536 – Statement of Transactions$____ Transactions $[ ] per message ● · MT537 – Statement of Pendings$____ Pendings $[ ] per message − Confirmations · MT544 – Receive Free Confirm$____ Confirm $[ ] per message · MT545 – Receive Against Payment Confirm$____ Confirm $[ ] per message · MT546 – Deliver Free Confirm$____ Confirm $[ ] per message · MT547 – Deliver Against Payment Confirm$____ Confirm $[ ] per message − Facsimile Reporting Fees · Corporate Actions Notifications$____ Notifications $[ ] per notification · Cash and Securities Reports$____ Reports $[ ] per page Out of Pocket Expenses § Charges incurred by The Bank of New York for local taxes, stamp duties or other local duties and assessments, stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred. § A surcharge may be added to certain out-of-pocket expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate. Amended *NOT subject to Annual CPI increase, Milwaukee, MSA Exhibit D P to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement – Global Real Estate Investments Name of Series Coldstream Dividend Growth Fund CLOSED-END FUND Multiple Series Trust DOMESTIC CUSTODY SERVICES – Annual Fee Schedule FEE SCHEDULE at JulySeptember, 2010 NOTE: All schedules subject to change depending upon the use of derivatives – options, futures, short sales, etc. Conversion, multiple classes, master/feeder and multiple manager funds, and extraordinary services quoted separately. Chief Compliance Officer Support Fee* § $____ /service per year Custody Annual Fee Based Upon Market Value Per Fund* ____ [ ] basis point on average daily market value Minimum annual fee per fund - $____ [ ] Plus portfolio transaction fees Custody Portfolio Transaction Fees $____ per book [ ] /book entry DTC transaction/Federal Reserve transaction/principal paydown $____ per short sale $____ per U.S. [ ] /U.S. Bank repurchase repo agreement transaction $____ per option[ ] /short sale $[ ] /option/future contract written, exercised or expired $____ per mutual [ ] /mutual fund trade/Fed wire/margin variation Fed wire $____ per physical [ ] /physical transaction $____ per disbursement (waived if U.S. Bancorp is Administrator) $____ per segregated [ ] /segregated account per year § A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender, tender or exchange. § No charge for the initial conversion free receipt. § Overdrafts – charged to the account at prime interest rate plus ____[ ]. Out-Of-Pocket Expenses Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, deposit withdrawals at custodian (DWAC) fees, and extraordinary expenses based upon complexity, and all other out-of-pocket expenses. Out of pocket expenses invoiced to the Fund shall be the same as USBFS’ cost. Fees are billed monthly. *Subject to annual CPI increase, Milwaukee MSA. Amended Advisor signature is not required at December 6, 2012 as the custody fees are not changing. Exhibit D P (continued) to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement – Global Real Estate Investments Fund GLOBAL SUB-CUSTODIAL SERVICES ANNUAL FEE SCHEDULE at JanuarySeptember, 2012 2010 Country Instrument Safekeeping (BPS) Transaction Fee Country Instrument Safekeeping (BPS) Transaction Fee Argentina All ____ $____ Latvia Bonds ____ $____ [ ] [ ] Lebanon All [ ] [ ] Australia All ____ $____ Lebanon [ ] [ ] Lithuania All ____ $____ [ ] [ ] Austria All ____ $____ Lithuania [ ] [ ] Luxembourg All ____ $____ [ ] [ ] Bahrain All ____ $____ Luxembourg [ ] [ ] Malaysia All ____ $____ [ ] [ ] Bangladesh All ____ $____ Malaysia All ____ $____ Belgium All ____ $____ [ ] [ ] Mali* All ____ $____ [ ] [ ] Belgium All [ ] [ ] Malta All [ ] [ ] Benin* All ____ $____ Malta [ ] [ ] Mauritius All ____ $____ [ ] [ ] Bermuda All ____ $____ Mauritius [ ] [ ] Mexico All ____ $____ [ ] [ ] Botswana All ____ $____ Mexico [ ] [ ] Morocco All ____ $____ [ ] [ ] Brazil All ____ $____ Morocco [ ] [ ] Namibia All ____ $____ [ ] [ ] Bulgaria All ____ $____ Namibia [ ] [ ] Netherlands All ____ $____ [ ] [ ] Burkina Faso* All ____ $____ Netherlands All ____ $____ Canada All ____ $____ [ ] [ ] New Zealand All ____ $____ [ ] [ ] Canada All [ ] [ ] Niger* All [ ] [ ] Cayman Islands* All ____ $____ Niger* [ ] [ ] Nigeria All ____ $____ [ ] [ ] Channel Islands* All ____ $____ Nigeria [ ] [ ] Norway All ____ $____ [ ] [ ] Chile All ____ $____ Norway [ ] [ ] Oman All ____ $____ [ ] [ ] China“A” Shares All ____ $____ Oman [ ] [ ] Pakistan All ____ $____ [ ] [ ] China“B” Shares All ____ $____ Pakistan [ ] [ ] Peru All ____ $____ [ ] [ ] Columbia All ____ $____ Peru [ ] [ ] Philippines All ____ $____ [ ] [ ] Costa Rica All ____ $____ Philippines [ ] [ ] Poland All ____ $____ [ ] [ ] Croatia All ____ $____ Poland [ ] [ ] Portugal All ____ $____ [ ] [ ] Cyprus* All ____ $____ Portugal [ ] [ ] Qatar All ____ $____ [ ] [ ] Czech Republic All ____ $____ Qatar [ ] [ ] Romania All ____ $____ [ ] [ ] Denmark All ____ $____ Romania All ____ $____ Ecuador All ____ $____ [ ] [ ] Russia Equities/Bonds ____ $____ [ ] [ ] Ecuador All [ ] [ ] Russia MINFINs [ ] [ ] Egypt All ____ $____ Russia MINFIN ____ $____ Estonia All ____ $____ [ ] [ ] Senegal* All ____ $____ [ ] [ ] Estonia All [ ] [ ] Singapore All [ ] [ ] Euromarkets(3) All ____ $____ Singapore All ____ $____ Finland All ____ $____ [ ] [ ] Slovak Republic All ____ $____ [ ] [ ] Finland All [ ] [ ] Slovenia All [ ] [ ] France All ____ $____ Slovenia All ____ $____ Germany All ____ $____ [ ] [ ] South Africa All ____ $____ Ghana [ ] [ ] Germany All ____ $____ [ ] [ ] South Korea All ____ $____ [ ] [ ] Ghana All [ ] [ ] Spain All [ ] [ ] Greece All ____ $____ Spain [ ] [ ] Sri Lanka All ____ $____ [ ] [ ] Guinea Bissau* All ____ $____ Sri Lanka [ ] [ ] Swaziland All ____ $____ [ ] [ ] Hong Kong All ____ $____ Swaziland [ ] [ ] Sweden All ____ $____ [ ] [ ] Hungary All ____ $____ Sweden [ ] [ ] Switzerland All ____ $____ [ ] [ ] Iceland All ____ $____ Switzerland [ ] [ ] Taiwan All ____ $____ [ ] [ ] India All ____ $____ Taiwan [ ] [ ] Thailand All ____ $____ [ ] [ ] Indonesia All ____ $____ Thailand All ____ $____ Ireland Equities ____ $____ [ ] [ ] Togo* All ____ $____ [ ] [ ] Ireland Gov’t Bonds ____ $____ All [ ] [ ] Trinidad & Tobago* All ____ $____ [ ] [ ] Israel All ____ $____ [ ] [ ] Tunisia All ____ $____ [ ] [ ] Italy All ____ $____ [ ] [ ] Turkey All ____ $____ [ ] [ ] Ivory Coast All ____ $____ [ ] [ ] UAE All ____ $____ [ ] [ ] Jamaica* All ____ $____ [ ] [ ] United Kingdom All ____ $____ [ ] [ ] Japan All ____ $____ [ ] [ ] Ukraine All ____ $____ [ ] [ ] Jordan All ____ $____ [ ] [ ] Uruguay All ____ $____ [ ] [ ] Kazakhstan All ____ $____ [ ] [ ] Venezuela All ____ $____ [ ] [ ] Kenya All ____ $____ [ ] [ ] Vietnam* All ____ $____ [ ] [ ] Latvia Equities ____ $____ [ ] [ ] Zambia All ____ $____ [ ] [ ] Latvia Bonds [ ] [ ] * Additional customer documentation and indemnification will be required prior to establishing accounts in these markets. Exhibit P (continued) to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement Base Fee - A monthly base charge of $____ [ ] per account (fund) will apply. § Fee is expressed in basis points per annum where one basis point equals one hundredth of one percent (.01%) and is calculated based upon month-end market value, unless stated otherwise. § A transaction is defined as a receipt or delivery versus payment, a free receive or deliver, maturities, or security transaction related to corporate events. § Euroclear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). § For all other markets specified above, surcharges may apply if a security is held outside of the local market. Straight Through Processing – fees waived. For non-US resident clients investing in the U.S. market: Fees for US custody are provided on the basis that if assets are held in an omnibus account for multiple underlying clients, the Client will take the necessary action to attain Qualified Intermediary (QI) status for US IRS withholding tax purposes. Should the Client fail to take the necessary action, the fee quoted would be subject to review, and all costs incurred by The Bank of New York in fulfilling its obligations under the US regulations would be passed to the Client. Please refer to the separate Non-Resident Alien (NRA) fee schedule. Note: For the clients who are the sole beneficial owner of the assets held in their account with The Bank of New York and the client has provided a “W8Ben” form per account stating their ownership of the assets, the above will not apply. Cash Transactions: § Currency Trade - $____ per transaction § 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a third party will be charged $____. Standard Non-U.S. Proxy Services Fees: § Notification $____ § Vote $____ § Relationship Set Up Fee $____ Tax Reclamation Services: May be subject to additional charges depending upon the service level agreed. Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $____ per claim. Communication Fees:.

Reporting and Message Fees. The following fees will apply in respect of client requested SWIFT reports and messages: − Cash Reporting · MT900 – Cash Debit Advice$____ Advice $[ ] each · MT910 – Cash Credit Advice$____ Advice $[ ] each · MT940 – Detail Cash Statement$____ Statement $[ ] per message · MT950 – Cash Statement$____ Statement $[ ] per message − Securities Position Reporting ● · MT535 – Statement of Holdings$____ Holdings $[ ] per message (One MT535 will be issued per account per month free of charge) ● · MT536 – Statement of Transactions$____ Transactions $[ ] per message ● · MT537 – Statement of Pendings$____ Pendings $[ ] per message − Confirmations · MT544 – Receive Free Confirm$____ Confirm $[ ] per message · MT545 – Receive Against Payment Confirm$____ Confirm $[ ] per message · MT546 – Deliver Free Confirm$____ Confirm $[ ] per message · MT547 – Deliver Against Payment Confirm$____ Confirm $[ ] per message − Facsimile Reporting Fees · Corporate Actions Notifications$____ Notifications $[ ] per notification · Cash and Securities Reports$____ Reports $[ ] per page Out of Pocket Expenses § Charges incurred by The Bank of New York for local taxes, stamp duties or other local duties and assessments, stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred. § A surcharge may be added to certain out-of-pocket expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate. Amended Exhibit D O to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement – Name of Series O'Xxxxxxxxxxx Small/Mid Cap Growth Fund O'Xxxxxxxxxxx Enhanced Dividend Fund O'Xxxxxxxxxxx All Cap Core Fund O'Xxxxxxxxxxx Global Real Estate Investments Equity Fund CLOSED-END FUND O'Xxxxxxxxxxx International Equity Fund O’Xxxxxxxxxxx Tactical Asset Allocation Fund Multiple Series Trust DOMESTIC CUSTODY SERVICES – Annual Fee Schedule FEE SCHEDULE at JulyJune, 2010 NOTE: All schedules subject to change depending upon the use of derivatives – options, futures, short sales, etc. Conversion, multiple classes, master/feeder and multiple manager funds, and extraordinary services quoted separately. Chief Compliance Officer Support Fee* § $____ /service per year Custody Annual Fee Based Upon Market Value Per Fund* ____ [ ] basis point on average daily market value Minimum annual fee per fund - $____ [ ] Plus portfolio transaction fees Custody Portfolio Transaction Fees $____ [ ] per book entry DTC transaction/Federal Reserve transaction/U.S. Bank repo agreement transaction $[ ] per principal paydown $____ [ ] per short sale $____ per U.S. Bank repurchase agreement transaction $____ [ ] per option/future contract written, exercised or expired $____ [ ] per mutual fund trade/Fed wire/margin variation Fed wire $____ [ ] per physical transaction $____ per disbursement (waived if U.S. Bancorp is Administrator) $____ [ ] per segregated account per year § A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender, tender or exchange. § No charge for the initial conversion free receipt. § Overdrafts – charged to the account at prime interest rate plus ____[ ]. Out-Of-Pocket Expenses Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, and extraordinary expenses based upon complexity, and all other out-of-pocket expenses. Out of pocket expenses invoiced to the Fund shall be the same as USBFS’ cost. Fees are billed monthly. *Not Subject to annual CPI increase, Milwaukee MSA. Amended Advisor signature is not required at December 6, 2012 as the custody fees are not changing. Exhibit D O (continued) to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement – Global Real Estate Investments Fund GLOBAL SUB-CUSTODIAL SERVICES ANNUAL FEE SCHEDULE at JanuaryJune, 2012 2010 Country Instrument Safekeeping (BPS) Transaction Fee Country Instrument Safekeeping (BPS) Transaction Fee Argentina All ____ $____ [ ] [ ] Latvia Bonds ____ $____ [ ] [ ] Australia All ____ $____ [ ] [ ] Lebanon All ____ $____ [ ] [ ] Austria All ____ $____ [ ] [ ] Lithuania All ____ $____ [ ] [ ] Bahrain All ____ $____ [ ] [ ] Luxembourg All ____ $____ [ ] [ ] Bangladesh All ____ $____ [ ] [ ] Malaysia All ____ $____ [ ] [ ] Belgium All ____ $____ [ ] [ ] Mali* All ____ $____ [ ] [ ] Benin* All ____ $____ [ ] [ ] Malta All ____ $____ [ ] [ ] Bermuda All ____ $____ [ ] [ ] Mauritius All ____ $____ [ ] [ ] Botswana All ____ $____ [ ] [ ] Mexico All ____ $____ [ ] [ ] Brazil All ____ $____ [ ] [ ] Morocco All ____ $____ [ ] [ ] Bulgaria All ____ $____ [ ] [ ] Namibia All ____ $____ [ ] [ ] Burkina Faso* All ____ $____ [ ] [ ] Netherlands All ____ $____ [ ] [ ] Canada All ____ $____ [ ] [ ] New Zealand All ____ $____ [ ] [ ] Cayman Islands* All ____ $____ [ ] [ ] Niger* All ____ $____ [ ] [ ] Channel Islands* All ____ $____ [ ] [ ] Nigeria All ____ $____ [ ] [ ] Chile All ____ $____ [ ] [ ] Norway All ____ $____ [ ] [ ] China“A” Shares All ____ $____ [ ] [ ] Oman All ____ $____ [ ] [ ] China“B” Shares All ____ $____ [ ] [ ] Pakistan All ____ $____ [ ] [ ] Columbia All ____ $____ [ ] [ ] Peru All ____ $____ [ ] [ ] Costa Rica All ____ $____ [ ] [ ] Philippines All ____ $____ [ ] [ ] Croatia All ____ $____ [ ] [ ] Poland All ____ $____ [ ] [ ] Cyprus* All ____ $____ [ ] [ ] Portugal All ____ $____ [ ] [ ] Czech Republic All ____ $____ [ ] [ ] Qatar All ____ $____ [ ] [ ] Denmark All ____ $____ [ ] [ ] Romania All ____ $____ [ ] [ ] Ecuador All ____ $____ [ ] [ ] Russia Equities/Bonds ____ $____ [ ] [ ] Egypt All ____ $____ [ ] [ ] Russia MINFIN ____ $____ [ ] [ ] Estonia All ____ $____ [ ] [ ] Senegal* All ____ $____ [ ] [ ] Euromarkets(3) All ____ $____ [ ] [ ] Singapore All ____ $____ [ ] [ ] Finland All ____ $____ [ ] [ ] Slovak Republic All ____ $____ [ ] [ ] France All ____ $____ [ ] [ ] Slovenia All ____ $____ [ ] [ ] Germany All ____ $____ [ ] [ ] South Africa All ____ $____ [ ] [ ] Ghana All ____ $____ [ ] [ ] South Korea All ____ $____ [ ] [ ] Greece All ____ $____ [ ] [ ] Spain All ____ $____ [ ] [ ] Guinea Bissau* All ____ $____ [ ] [ ] Sri Lanka All ____ $____ [ ] [ ] Hong Kong All ____ $____ [ ] [ ] Swaziland All ____ $____ [ ] [ ] Hungary All ____ $____ [ ] [ ] Sweden All ____ $____ [ ] [ ] Iceland All ____ $____ [ ] [ ] Switzerland All ____ $____ [ ] [ ] India All ____ $____ [ ] [ ] Taiwan All ____ $____ [ ] [ ] Indonesia All ____ $____ [ ] [ ] Thailand All ____ $____ [ ] [ ] Ireland Equities ____ $____ [ ] [ ] Togo* All ____ $____ [ ] [ ] Ireland Gov’t Bonds ____ $____ [ ] [ ] Trinidad & Tobago* All ____ $____ [ ] [ ] Israel All ____ $____ [ ] [ ] Tunisia All ____ $____ [ ] [ ] Italy All ____ $____ [ ] [ ] Turkey All ____ $____ [ ] [ ] Ivory Coast All ____ $____ [ ] [ ] UAE All ____ $____ [ ] [ ] Jamaica* All ____ $____ [ ] [ ] United Kingdom All ____ $____ [ ] [ ] Japan All ____ $____ [ ] [ ] Ukraine All ____ $____ [ ] [ ] Jordan All ____ $____ [ ] [ ] Uruguay All ____ $____ [ ] [ ] Kazakhstan All ____ $____ [ ] [ ] Venezuela All ____ $____ [ ] [ ] Kenya All ____ $____ [ ] [ ] Vietnam* All ____ $____ [ ] [ ] Latvia Equities ____ $____ [ ] [ ] Zambia All ____ $____ [ ] [ ] * Additional customer documentation and indemnification will be required prior to establishing accounts in these markets. Base Fee - A monthly base charge of $____ $ [ ] per account (fund) will apply. § Fee is expressed in basis points per annum where one basis point equals one hundredth of one percent (.01[ ]%) and is calculated based upon month-end market value, unless stated otherwise. § A transaction is defined as a receipt or delivery versus payment, a free receive or deliver, maturities, or security transaction related to corporate events. § Euroclear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surchargesurcharge (surcharge schedule available upon request). In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). § − For all other markets specified above, surcharges may apply if a security is held outside of the local market. Exhibit O (continued) to the Separate Series of Advisors Series Trust Amended and Restated Custody Agreement surcharge. Straight Through Processing – - fees waived. For non-US resident clients investing in the U.S. market: market - Fees for US custody are provided on the basis that if assets are held in an omnibus account for multiple underlying clients, the Client will take the necessary action to attain Qualified Intermediary (QI) status for US IRS withholding tax purposes. Should the Client fail to take the necessary action, the fee quoted would be subject to review, and all costs incurred by The Bank of New York in fulfilling its obligations under the US regulations would be passed to the Client. Please refer to the separate Non-Resident Alien (NRA) fee schedule. Note: For the clients who are the sole beneficial owner of the assets held in their account with The Bank of New York and the client has provided a “W8Ben” form per account stating their ownership of the assets, the above will not apply. Cash Transactions: § Currency Trade - $____ per transaction § 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a third party will be charged $____. Standard Non-U.S. Proxy Services Fees: § Notification $____ § Vote $____ § Relationship Set Up Fee $____ Tax Reclamation Services: May be subject to additional charges depending upon the service level agreed. Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $____ per claim. Communication Fees:.