EXHIBIT A

MULTIPLE CLASS PLAN

(as amended March 15, 2013 to add WBI Absolute Return Balanced Plus Fund and

WBI Absolute Return Dividend Income Fund)

ADVISORS SERIES TRUST

on behalf of the funds managed by

WBI Investments, Inc.

Fund Names:

WBI Absolute Return Balanced Fund

WBI Absolute Return Dividend Growth Fund

WBI Absolute Return Balanced Plus Fund

WBI Absolute Return Dividend Income Fund

Share Class	Minimum Investment1	Maximum Initial Sales Charge	Maximum CDSC	Maximum 12b-1 Fee	Maximum Shareholder Servicing Fee	Redemption Fee
	Regular / Retirement  Accounts
No Load	$2,500 / $1,000	None	None	0.25%	0.40%	2.00%2
Institutional	$250,000	None	None	None	0.40%	2.00%2

1The Advisor may waive the minimum initial investment in certain circumstances; please see the Funds’ Prospectus.

2A redemption fee of 2.00% is assessed on shares redeemed within 60 days of purchase (i.e., held 60 days or less).

ADVISORS SERIES TRUST

on behalf of each series of the Trust

listed on Exhibit A

By:           /s/ Douglas G. Hess                                

Name:      Douglas G. Hess                                           

Title:        President                                

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