EX-99.H.V.A 9 opexpns_agmt.htm AMENDED SCHEDULE A TO THE OPERATING EXPENSES LIMITATION AGREEMENT
SCHEDULE A
to the Operating Expenses Limitation Agreement

(as amended on March 9, 2016, to add the Pzena Small Cap Value Fund)


Advisors Series Trust Fund and Share Class
Operating Expense Limit as a Percentage of
Average Daily Net Assets
Pzena Mid Cap Value Fund
  
Investor Class
Institutional Class
1.35%
1.00%
Pzena Emerging Markets Value Fund
  
Investor Class
Institutional Class
1.60%
1.25%
Pzena Long/Short Value Fund
  
Investor Class
Institutional Class
2.10%
1.75%
Pzena Small Cap Value Fund
  
Investor Class
Institutional Class
1.55%
1.20%





ADVISORS SERIES TRUST
on behalf of the series listed on Schedule A
  
PZENA INVESTMENT MANAGEMENT, LLC
     
By:  /s/Douglas G. Hess
  
By:  /s/William L. Lipsey
Name:  Douglas G. Hess
  
Name:  William L. Lipsey
Title:  President
  
Title:  President

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