SCHEDULE A

to the Investment Advisory Agreement

(as amended on October 25, 2011)

Series or Fund of Advisors Series Trust	Annual Fee Rate
Huber Capital Equity Income Fund	0.99% of the Fund’s average daily net assts between $0 and $10 billion; 0.75% of the Fund’s average daily net assets between $10 billion and $20 billion; 0.50% of the Fund’s average daily net assets for assets in excess of $20 billion
Huber Capital Small Cap Value Fund	1.35% of the Fund’s average daily net assts between $0 and $5 billion and 1.00% of the Fund’s average daily net assets for assets in excess of $5 billion

ADVISORS SERIES TRUST	HUBER CAPITAL MANAGEMENT, LLC
on behalf of the Funds listed on Schedule A
By:   ____________________________	By:   ____________________________
Name:   __________________________	Name:   __________________________
Title:   ___________________________	Title:   ___________________________