AMENDMENT TO THE

ETF SERIES SOLUTIONS

FUND ADMINISTRATION SERVICING AGREEMENT

THIS AMENDMENT, dated as of the 3^rd day of July, 2018, to the Fund Administration Servicing Agreement dated as of May 16, 2012, as amended (the “Agreement”), is entered into by and between ETF SERIES SOLUTIONS, a Delaware statutory trust (the “Trust”), and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

RECITALS

WHEREAS, the parties to the Agreement desire to amend the Agreement to add the ClearShares Ultra-Short Maturity ETF in the manner set forth herein; and

WHEREAS, Section 11 of the Agreement allows for its amendment by a written instrument executed by both parties.

NOW, THEREFORE, the parties hereby amend the Agreement as follows:

Exhibit R is hereby superseded and replaced with Exhibit R attached hereto.

This amendment will become effective upon the commencement of operations of the ClearShares Ultra-Short Maturity ETF. Except to the extent amended hereby, the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.

ETF SERIES SOLUTIONS		U.S. BANCORP FUND SERVICES, LLC

By:	/s/ Michael D. Barolsky	By:	/s/ Jeanine M. Bajczyk
Name: Michael D. Barolsky		Name: Jeanine M. Bajczyk
Title: Vice President and Secretary		Title: Sr. Vice President

Exhibit R to the ETF Series SolutionsFund Administration Servicing Agreement

Name of Series

ClearShares OCIO ETF

ClearShares Ultra-Short Maturity ETF

Base Fee for Accounting, Administration, and Transfer Agent Services at April, 2017

Fund Start-up & Registration Services Project Fee Schedule

Legal Administration Service Proposal – In support of external legal counsel

(Subject to services provided; if applicable)

$[ ] per project – one fund

$[ ] per project – two funds

$[ ] per project – three funds

$[ ] per project – four funds

Negotiated Fee – five funds and above

Additional fee of $[ ] per sub-advisor for 2 or more sub-advisors

Note: External legal costs are included in the above fee, unless otherwise stated, for the first fund(s) launched by advisor. Additional reviews by Trust counsel for extraordinary circumstances are billed at cost.

Additional Legal Administration Services

§	Subsequent new fund launch – $[ ] per fund or as negotiated

Drafting SEC Exemptive Order Application

§	Actively-managed ETF $[ ]

§	Passively-managed ETF $[ ]

Miscellaneous expenses, including but not limited to:

§	Postage, if necessary

§	Federal and state regulatory filing fees

§	Expenses from Board of Trustee meetings

§	Third party auditing

§	EDGAR/XBRL filing

§	All other Miscellaneous expenses

U.S. Bancorp Fund Services, LLC

Base Fee for Accounting, Administration, and Transfer Agent Services

The following reflects the greater of the basis point fee or annual minimum¹ for ClearShares LLC advised series of ETF Series Solutions.²

Annual Minimum per Fund		Basis Points on Trust AUM
Funds 1-5	$[ ]	First $250m	[ ] bps
Funds 6-10	$[ ]	Next $250m	[ ] bps
Funds 11-15	$[ ]	Next $500m	[ ] bps
Funds 16+	$[ ]	Balance	[ ] bps

See APPENDIX A for Services and Associated Fees in addition to the Base Fee

See APPENDIX B for OPTIONAL Supplemental Services and Associated Fees

¹ Each fund, regardless of asset size, will have fees allocated to it equal to the per fund minimum. Should the complex level basis point fee calculation exceed the complex level minimum fee level calculation, the fees in excess of the minimum will be allocated to each fund based on percent on AUM.

² Subject to annual CPI increase - All Urban Consumers - U.S. City Average. Fees are calculated pro rata and billed monthly

U.S. Bancorp Fund Services, LLC

APPENDIX A

Accounting, Administration, TA Services in addition to the Base Fee¹

Pricing Services

For daily pricing of each securities (estimated 252 pricing days annually)

§	$[ ] - Domestic Equities, Options, ADRs, Foreign Equities, Futures, Forwards

§	$[ ] - Domestic Corporates, Convertibles, Governments, Agencies, Currency Rates, Mortgage Backed

§	$[ ] - CMOs, Municipal Bonds, Money Market Instruments, Foreign Corporates, Convertibles, Governments, Agencies, Asset Backed, High Yield

§	$[ ] - Interest Rate Swaps, Foreign Currency Swaps, Total Return Swaps, Total Return Bullet Swaps

§	$[ ] - Bank Loans

§	$[ ] - Swaptions

§	$[ ] - Credit Default Swaps

§	$[ ] per Month Manual Security Pricing (>25 per day)

NOTE: Prices are based on using U.S. Bancorp primary pricing service which may vary by security type and are subject to change. Use of alternative and/or additional sources may result in additional fees. Pricing vendors may designate certain securities as hard to value or as a non-standard security type, such as CLOs and CDOs, which may result in additional fees. All schedules subject to change depending upon the use of unique security type requiring special pricing or accounting arrangements.

Corporate Action Services

Fee for IDC data used to monitor corporate actions

§	$[ ] per Foreign Equity Security per Month

§	$[ ] per Domestic Equity Security per Month

§	$[ ] per CMOs, Asset Backed, Mortgage Backed Security per Month

ESS Trust Chief Compliance Officer Annual Fee (subject to board approval)

§	$[ ] for the first fund

§	$[ ] for each additional fund

§	$[ ] per sub-advisor per fund

Third Party Administrative Data Charges (descriptive data for analytics, reporting and compliance)

§	$[ ] per security per month

Section 15(c) Reporting

Add the following for fund administration services and data charges necessary to compile SEC required “peer reporting” information.

§	$[ ] per fund per report

SEC Reporting Modernization Requirements (as needed)

§	Form N-PORT – $[ ] per year, per Fund

§	Form N-CEN – $[ ] per year, per Fund

Ongoing Annual Legal Administration Services

Add the following for legal administration services in support of external legal counsel, including annual registration statement update and drafting of supplements: (Final Fee(s) subject to USBFS legal team review and approval)

§	$[ ] first fund

§	$[ ] each additional fund up to 5 funds

§	Fees negotiated for funds 6+

Miscellaneous Expenses

Including but not limited to, SWIFT processing, customized reporting, third-party data provider costs (including GICS, MSCI, Lipper, etc.), postage, stationary, programming, special reports, proxies, insurance, EDGAR/XBRL filing, retention of records, federal and state regulatory filing fees, expenses related to and including travel to and from Board of Trustee meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing, PFIC monitoring, conversion expenses (if necessary), and CCO team travel related costs to perform due diligence reviews at advisor and sub-advisor facilities.

¹ Fees are calculated pro rata and billed monthly

U.S. Bancorp Fund Services, LLC

APPENDIX B

OPTIONAL Supplemental Services for Fund Accounting, Fund Administration & Portfolio Compliance

Outbound Calling & Marketing Campaigns

§	Cost based on project requirements

Adviser’s signature not required as fees are not changing; only the ClearShares Ultra-Short Maturity ETF is being added.