Common use of CUSTOM BASKETS Clause in Contracts

CUSTOM BASKETS. The Trust has developed procedures for the creation and redemption of Creation Baskets and Redemption Baskets using Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a “Custom Basket”). In order for an AP to deliver or receive a Custom Basket to the Transfer Agent and the Trust in connection with a Purchase Order or Redemption Order rather than the basket of Deposit Securities published by NSCC together with the Cash Component, any cash in lieu amounts and any other cash fees, the Distributor, the Sponsor, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket at or prior to the time the AP calls with its Purchase Order or Redemption Order and the AP must agree to deliver or receive the Custom Basket in connection with the creation or redemption. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in the custom creation basket. EXHIBIT B — PART B TO AUTHORIZED PURCHASER AGREEMENT FOR [ ] PROCEDURES TO PLACE A REDEMPTION ORDER FOR CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF [ ]: 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests containing the information required by the Transfer Agent in the following manner: (a) in writing transmitted by facsimile; (b) through Transfer Agent’s electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions of the Electronic Services Agreement, incorporated herein by reference; or (c) by telephone to the Transfer Agent Representative and the Distributor, as applicable, according to the procedures set forth below. The request so transmitted (either in writing or electronic form) is hereinafter referred to as the “Submission” or the “Redemption Order” as applicable, and the Business Day on which a Submission is made is hereinafter referred to as the “Transmittal Date”. NOTE THAT IF THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUEST. A REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange, the Chicago Board of Trade and the New York Stock Exchange are open for trading. Redemption Orders may only be made in whole Creation Units of Shares of each Fund. To begin a telephonic Redemption Order, the AP must telephone the Administrator. This telephone call must be made by an Authorized Person of the AP and answered by the Administrator before the applicable Order Cutoff Time. Upon verifying the authenticity of the AP (as determined by the use of the appropriate PIN Number), the Administrator will request that the AP place the Redemption Order. To do so, the AP must provide the appropriate ticker symbols when referring to a Fund. After the AP has placed the Redemption Order, the Administrator will read the Redemption Order back to the AP. The AP then must affirm that the Redemption Order has been taken correctly by the Administrator. If the AP affirms that Redemption Order has been taken correctly, the Administrator will issue a confirmation number to the AP. A Fund’s Order Cutoff Time will not be later than 5:30 PM Eastern Standard Time. Redemption Orders for the Funds, if accepted, will receive the next Business Day’s NAV per Creation Unit if submitted before the applicable Order Cutoff Time.

CUSTOM BASKETS. The Trust has developed procedures for the creation Creations and redemption Redemptions using baskets of Creation Baskets and Redemption Baskets using Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a “Custom Basket”). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Trust in connection with a Purchase Order purchase or Redemption Order redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash ComponentAmount, any cash in lieu amounts and any other cash fees, the Distributor, the SponsorFunds’ investment adviser, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket at on or prior to the time the AP calls with its Purchase Order or Redemption Order and the AP must agree to deliver or receive the Custom Basket in connection with the creation or redemptionpurchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in the custom creation basket. EXHIBIT B Cash in lieu will only be acceptable in accordance with the terms set forth in the Registration Statement. ANNEX II — PART B TO AUTHORIZED PURCHASER PARTICIPANT AGREEMENT FOR [ ] PROCEDURES XXXXXXX SACHS ETF TRUST TO PLACE A REDEMPTION ORDER FOR CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF [ ]:XXXXXXX XXXXX ETF TRUST 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests request containing the information required by the Transfer Agent BNYM ETF Administrator in one of the following mannermanners: (a) in writing transmitted by facsimile; (b) through Transfer Agentthe BNYM ETF Administrator’s electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions of the Electronic Services Agreement, incorporated herein by reference; or (cb) by telephone to the Transfer Agent Representative and the Distributor, as applicable, BNYM ETF Administrator according to the procedures set forth below. The request so transmitted (either in writing or electronic form) is hereinafter referred to as the “Submission” or the “Redemption Order” as applicable, and the Business Day on which a Submission Redemption Order is made is hereinafter referred to as the “Transmittal Order Date”. .” NOTE THAT IF COMMUNICATION THROUGH THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE ELECTRONIC ORDER ENTRY SYSTEM OR BY TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUESTCOMPLETE A REDEMPTION ORDER. A REQUEST REDEMPTION ORDER IS ONLY COMPLETED UPON ISSUANCE OF A CONFIRMATION NUMBER AND PROCESSED UPON RECEIPT TRANSMISSION OF THE SUBMISSIONWRITTEN REDEMPTION ORDER TO THE AP AS DESCRIBED BELOW. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange, the Chicago Board of Trade and the New York Stock Exchange are is open for trading. Redemption Orders may only be made in whole Creation Units of Shares of each Fund. To begin a telephonic A Redemption Order, the AP must telephone the Administrator. This telephone call must Order may be made initiated by an Authorized Person of the AP and answered (of the Trust) before the closing time of the regular trading session on the Listing Exchange, which is ordinarily 4:00 p.m. Eastern Time (the “Order Cutoff Time”). The submission of a Redemption Order by the AP to the BNYM ETF Administrator before must include the applicable terms of the Redemption Order, the appropriate ticker symbols for each Fund and the PIN Number of the Authorized Person. If the AP uses the electronic order entry system to initiate a Redemption Order, the system automatically notifies the BNYM ETF Administrator of the receipt of such Redemption Order. The BNYM ETF Administrator reviews the electronic Redemption Order and accepts or rejects the order terms within the system. The system automatically generates and delivers a written Redemption Order to the AP. Such transmission of the Redemption Order shall indicate approval of the Redemption Order by the BNYM ETF Administrator. If the BNYM ETF Administrator rejects the order, it will promptly notify the AP through the electronic system of the rejection and the reason(s) for such rejection. To begin a Redemption Order using the telephonic method, the AP must call the BNYM ETF Administrator at (000) 000-0000 or such other number as the BNYM ETF Administrator may from time to time designate in writing to the AP. The telephone call must be answered and concluded prior to the Order Cutoff Time. Upon During the telephone call, upon verifying the authenticity of the AP Authorized Person (as determined by the use of the appropriate PIN Number), the BNYM ETF Administrator will request that the AP place convey the terms of the Redemption Order. To do so, the AP must provide including the appropriate ticker symbols when referring to a for each Fund. , and will record the terms of the Redemption Order on the form attached hereto as Annex II – Part C. After the AP has placed the Redemption Order, the BNYM ETF Administrator will read reads the terms of the Redemption Order back to the AP. The AP then must affirm confirm that the Redemption Order has been taken correctly by the BNYM ETF Administrator. If the AP affirms confirms that the Redemption Order has been taken correctly, the BNYM ETF Administrator will issue a confirmation number to the AP and, before concluding the call, will transmit the written Redemption Order (including the confirmation number) to the AP. A Fund’s Order Cutoff Time will not be later than 5:30 PM Eastern Standard Time. Redemption Orders for placed after the Fundsclosing time of the regular trading session on the Listing Exchange, if accepted, will receive the next Business Day’s NAV per Creation Unit if submitted before the applicable Order Cutoff TimeUnit. A REDEMPTION ORDER IS COMPLETE WHEN THE BNYM ETF ADMINISTRATOR ISSUES THE CONFIRMATION NUMBER AND TRANSMITS THE WRITTEN PURCHASE ORDER. A REDEMPTION ORDER CANNOT BE CANCELED BY THE AUTHORIZED PARTICIPANT AFTER IT HAS BEEN SUBMITTED TO THE BNYM ETF ADMINISTRATOR. INCOMING TELEPHONE CALLS ARE QUEUED AND WILL BE HANDLED IN THE SEQUENCE RECEIVED. ACCORDINGLY, THE AP SHOULD NOT HANG UP AND REDIAL. CALLS MUST BE CONCLUDED PRIOR TO THE ORDER CUTOFF TIME TO BE PROCESSED ON THE ORDER DATE AND AT THE ORDER DATE’S NAV. FOR CALLS THAT ARE IN PROGRESS OR ARE UNANSWERED IN THE QUEUE AT OR AFTER THE ORDER CUTOFF TIME, THE BNYM ETF REPRESENTATIVE WILL VERBALLY ALERT THE AP THAT THE ORDER CUTOFF TIME HAS PASSED AND THAT THE REDEMPTION ORDER CAN NO LONGER BE PROCESSED ON THE ORDER DATE. ALL TELEPHONE CALLS WILL BE RECORDED AND TIME STAMPED BY THE BNYM ETF ADMINISTRATOR.

CUSTOM BASKETS. The Trust has developed procedures for the creation Creations and redemption Redemptions using baskets of Creation Baskets and Redemption Baskets using Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a “"Custom Basket”"). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Trust in connection with a Purchase Order purchase or Redemption Order redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash ComponentAmount, any cash in lieu amounts and any other cash fees, the Distributor, the SponsorInvestment Manager, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket at on or prior to the time the AP calls with its Purchase Order or Redemption Order purchase order and the AP must agree to deliver or receive the Custom Basket in connection with the creation or redemptionpurchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in to be added to or omitted from the custom creation basket. EXHIBIT B — ANNEX I -- PART B TO AUTHORIZED PURCHASER PARTICIPANT AGREEMENT FOR [ ] CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 PROCEDURES TO PLACE A REDEMPTION ORDER FOR ------------------------------------------ CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF [ ]:-------------------------------------------------- CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 ----------------------------------------------------------------------------- 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests containing the information required by to the Transfer Agent in the following manner: (a) in writing transmitted by facsimile(i) facsimile or (ii) telex; (b) through Transfer Agent’s 's electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions of the Electronic Services Agreement, incorporated herein by referenceattached hereto as Annex III; or (c) by telephone to the Transfer Agent Representative and the Distributor, as applicable, according to the procedures set forth below. The request so transmitted (either in writing writing, orally or electronic form) is hereinafter referred to as the “"Submission” " or the “"Redemption Order” " as applicable, and the Business Day on which a Submission is made is hereinafter referred to as the “"Transmittal Date”". NOTE THAT IF THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUEST. A REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange, the Chicago Board of Trade and the New York Stock Exchange are is open for trading. Redemption Orders may only be made in whole Creation Units of Shares shares of each Fund. To begin a telephonic Redemption Order, the AP must telephone the AdministratorBNYM ETF Administrator at (718) 315-7500. This telephone call must be made xxxx xxxx xx xade by an Authorized Person of the AP and answered by not later than the Administrator before closing time of the applicable Order Cutoff regular trading session on the Listing Exchange which is ordinarily 4:00 p.m. Eastern Time ("Listing Exchange Closing Time"). Upon verifying the authenticity of the AP (as determined by the use of the appropriate PIN Number), the BNYM ETF Administrator will request that the AP place the Redemption Order. To do so, the AP must provide the appropriate ticker symbols when referring to a Fund. After the AP has placed the Redemption Order, the BNYM ETF Administrator will read the Redemption Order back to the AP. The AP then must affirm that the Redemption Order has been taken correctly by the BNYM ETF Administrator. If the AP affirms that Redemption Order has been taken correctly, the BNYM ETF Administrator will issue a confirmation number to the AP. A Fund’s Order Cutoff Time will not be later than 5:30 PM Eastern Standard Time. Redemption Orders for the Funds, if accepted, will receive the next Business Day’s NAV per Creation Unit if submitted before the applicable Order Cutoff Time.

CUSTOM BASKETS. The Trust has developed procedures for the creation Creations and redemption Redemptions using baskets of Creation Baskets and Redemption Baskets using Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a “Custom Basket”). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Trust in connection with a Purchase Order purchase or Redemption Order redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash ComponentAmount, any cash in lieu amounts and any other cash fees, the Distributor, the SponsorInvestment Manager, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket at on or prior to the time the AP calls with its Purchase Order or Redemption Order purchase order and the AP must agree to deliver or receive the Custom Basket in connection with the creation or redemptionpurchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in the custom creation basket. EXHIBIT B — PART B TO AUTHORIZED PURCHASER AGREEMENT FOR [ ] PROCEDURES TO PLACE A REDEMPTION ORDER FOR ------------------------------------------ CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF [ ]:-------------------------------------------------- CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED ---------------------------------------------------------------- FUND TRUST 2 ------------ 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests containing the information required by to the Transfer Agent in the following manner: (a) in writing transmitted by facsimile; (b) through Transfer Agent’s Agents electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions of the Electronic Services Agreement, incorporated herein by reference; or (c) by telephone to the Transfer Agent Representative and the Distributor, as applicable, according to the procedures set forth below. The request so transmitted (either in writing or electronic form) is hereinafter referred to as the “Submission” Submission or the “Redemption Order” Order as applicable, and the Business Day on which a Submission is made is hereinafter referred to as the “Transmittal Date”. NOTE THAT IF THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUEST. A REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange, the Chicago Board of Trade and the New York Stock Exchange are is open for trading. Redemption Orders may only be made in whole Creation Units of Shares shares of each Fund. To begin a telephonic Redemption Order, the AP must telephone the AdministratorBNYM ETF Administrator at (718) 315-7500. This telephone call must be telephonx xxxx xxxx xx made by an Authorized Person of the AP and answered by the Administrator BNYM before the applicable closing time of the regular trading session on the Listing Exchange which is ordinarily 4:00 p.m. Eastern Standard Time (Listing Exchange Closing Time Or Order Cutoff Time). Upon verifying the authenticity of the AP (as determined by the use of the appropriate PIN Number), the BNYM ETF Administrator will request that the AP place the Redemption Order. To do so, the AP must provide the appropriate ticker symbols when referring to a Fund. After the AP has placed the Redemption Order, the BNYM ETF Administrator will read the Redemption Order back to the AP. The AP then must affirm that the Redemption Order has been taken correctly by the BNYM ETF Administrator. If the AP affirms that Redemption Order has been taken correctly, the BNYM ETF Administrator will issue a confirmation number to the AP. A Fund’s Redemption Orders for select funds may be placed after the Listing Exchange Closing Time and before 5:30 PM Eastern Standard Time on any Business Day. For such Funds the Order Cutoff Time will not be later than 5:30 PM Eastern Standard Time. Such Redemption Orders for the FundsOrders, if accepted, will receive the next Business Day’s Days NAV per Creation Unit if submitted before the applicable Order Cutoff TimeUnit.