AMENDMENT TO THE

ADVISORS SERIES TRUST

CUSTODY AGREEMENT

THIS AMENDMENT dated as of the 3rd day of June, 2010, 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 PIA BBB Bond Fund, the PIA MBS Bond Fund,  the PIA Short-Term Securities Fund and the PIA Moderate Duration Bond Fund and U.S. Bank National Association, a national banking association (the "Custodian").

RECITALS

WHEREAS, the parties have entered into a Custody Agreement; and

WHEREAS, the parties desire to amend the Custody Agreement; and

WHEREAS, Article XV, Section 15.2 of the Custody Agreement allows for its amendment by a written instrument executed by both parties.

NOW, THEREFORE, the parties agree to amend the following:

Exhibit L is hereby superseded and replaced with Exhibit L attached hereto.

Except to the extent amended hereby, the Custody 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.

ADVISORS SERIES TRUST	U.S. BANK, N.A.
By:  /s/ Douglas G. Hess	By:  /s/ Michael R. McVoy
Name: Douglas G. Hess	Name:  Michael R. McVoy
Title:  President	Title:  Vice President

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Exhibit L

to the Advisors Series Trust Custody Agreement

Name of Series	Date Added
PIA BBB Bond Fund	10/27/2004
PIA MBS Bond Fund	02/28/2006
PIA Short-Term Securities Fund	10/27/2004
PIA Moderate Duration Bond Fund	10/27/2004
PIA High Yield Fund	06/03/2010
PIA High Yield (MACS) Fund	06/03/2010

DOMESTIC CUSTODY SERVICES

FEE SCHEDULE at June, 2010

I.           Portfolio Transaction Fees:

DTC                                                                                     $[      ]

GNMA/ Amortized Security Purchase                           $[      ]

Fed Book Entry                                                                  $[      ]

Physical                                                                               $[      ]

Principal Paydown                                                             $[      ]

Option (Initial Only) / Future                                           $[      ]

Repurchase Agreement                                                    $[      ]

Wires In/Out                                                                      $[      ]

Mutual Fund Transactions                                              $[      ]

A transaction is a purchase/sale of a security, free receipt/free delivery (excludes initial conversion), maturity, tender or exchange:

Overdrafts – charged to the account at prime interest rate plus 2.

II.            Market Value Fee

Based upon an annual rate of:

[      ] basis point on the first $[      ] plus

[      ] basis point on the next $[      ] plus

[      ] basis point on excess of $[      ].

Total assets of the fund(s)

Subject to a $[      ]. Per month minimum per portfolio

III.           Out-of-Pocket Expenses

The only out-of-pocket expenses charged to your account will be shipping

fees or transfer fees

PACIFIC INCOME ADVISORS, INC.

By:   /s/ Thad M. Brown       

Name:    Thad M. Brown       

Title:      COO                              Date:_7/8/10_

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