Sponsor’s Fee Clause Samples

Sponsor’s Fee. (i) The Trust shall pay to the Sponsor a fee (the “Sponsor’s Fee”), which shall be in an amount set forth in the Prospectus but may be amended in accordance with Section 10.1 herein. The Sponsor’s Fee will accrue and be payable in U.S. Dollars. (ii) Except as provided in Section 6.8(a)(iv), to cause the Trust to pay the Sponsor’s Fee, the Sponsor shall instruct the Custodian to withdraw from the Bitcoin Account the number of Bitcoins equal to the accrued but unpaid Sponsor’s Fee and to direct the Prime Execution Agent to sell such Bitcoins and revert the proceeds to the Sponsor. The Trust shall be responsible for any fees and expenses incurred by the Sponsor to convert the Bitcoins received in the payment of the Sponsor’s Fee into U.S. Dollars. (iii) The Sponsor may, from time to time, temporarily waive all or a portion of the Sponsor’s Fee in its sole discretion or otherwise request a transfer of bitcoin to an account maintained for the Sponsor to pay the Sponsor’s Fee in lieu of the fee payable in U.S. Dollars, but is under no obligation to do so. (iv) As partial consideration for receipt of the Sponsor’s Fee, the Sponsor shall assume and pay the fees and other expenses incurred by the Trust that are set forth in the Prospectus as to be paid by the Sponsor out of the Sponsor’s Fee (each, a “Sponsor-paid Expense” and together, the “Sponsor-paid Expenses”), provided that any expense that qualifies as an Additional Trust Expense as set forth in Section 6.8(b) shall be deemed to be an Additional Trust Expense and not a Sponsor-paid Expense.

Sponsor’s Fee. (i) The Trust shall pay to the Sponsor a fee (the “Sponsor’s Fee”), payable in Bitcoins, which shall accrue daily in U.S. Dollars at an annual rate equal to a percentage, to be determined by the Sponsor, of the Bitcoin Holdings of the Trust as of 4:00 p.m. (New York time) on each day, provided that for a day that is not a Business Day, the calculation shall be based on the Bitcoin Index Price from the most recent Business Day. The amount of Bitcoins payable in respect of each daily U.S. Dollar accrual shall be determined by reference to the same Bitcoin Index Price used to determine such accrual. The Sponsor’s Fee is payable to the Sponsor monthly in arrears. (ii) To cause the Trust to pay the Sponsor’s Fee, the Sponsor shall instruct the Custodian to withdraw from the Bitcoin Account the number of Bitcoins equal to the accrued but unpaid Sponsor’s Fee and transfer such Bitcoins to an account maintained by the Custodian for the Sponsor at such times as the Sponsor determines in its absolute discretion. (iii) After the payment of the Sponsor’s Fee to the Sponsor, the Sponsor may elect to convert the Sponsor’s Fee into U.S. Dollars. The Limited Owners acknowledge that the rate at which the Sponsor converts such Bitcoins to U.S. Dollars may differ from the rate at which the Sponsor’s Fee was initially converted into Bitcoins. The Trust shall not be responsible for any fees and expenses incurred by the Sponsor to convert Bitcoins received in payment of the Sponsor’s Fee into U.S. Dollars. (iv) As consideration for receipt of the Sponsor’s Fee, the Sponsor shall assume and pay (i) the Marketing Fee, (ii) the Administrator Fee, (iii) the Custodian Fee, (iv) the Transfer Agent fee, (v) the Trustee fee, (vi) the fees and expenses related to public trading on NYSE Arca (including legal, marketing and audit fees and expenses), (vii) legal expenses, (viii) audit fees, (ix) regulatory fees, including any fees relating to the registration of the Shares with the SEC, (x) printing and mailing costs (including costs of maintaining the Trust’s website) and (xi) applicable license fees (each, a “Sponsor-paid Expense” and together, the “Sponsor-paid Expenses”). In the Sponsor’s sole discretion, all or any portion of a Sponsor-paid Expense may be redesignated as an Additional Trust Expense.

Sponsor’s Fee. The Company acknowledges that, pursuant to the Sponsor’s Engagement Letter, the Company shall pay a fee of US$500,000 (the “Sponsor’s Fee”) to the Sole Sponsor in connection with the Sole Sponsor acting as a sponsor to the Company in the listing of the Class A ordinary shares on the Main Board of the Stock Exchange,. The Company further acknowledges and agrees that the Sponsor’s Fee relates solely to services provided by the Sole Sponsor as the sponsor, and not any other services which it may provide, such as (without limitation) book building, pricing and underwriting and notwithstanding anything contrary in the Sponsor’s Engagement Letter and/or this Agreement, the Company shall pay the Sponsor’s Fee to the Sole Sponsor in addition to any amount payable by the Company pursuant to Clauses 6.1, 6.2 and 6.4 of this Agreement.

Sponsor’s Fee. (i) The Trust shall pay to the Sponsor a fee (the “Sponsor’s Fee”), payable in ETC (except as provided in Section 6.8(a)(iv)), which shall accrue daily in U.S. Dollars at an annual rate of 3.0%2.5% of the ETC Holdings Fee Basis Amount of the Trust as of 4:00 p.m., New York time, on each day; provided that for a day that is not a Business Day, the calculation shall be based on the ETC Holdings Fee Basis Amount from the most recent Business Day. The amount of ETC payable in respect of each daily U.S. Dollar accrual shall be determined by reference to the same ETC Index Price used to determine such accrual. The Sponsor’s Fee is payable to the Sponsor monthly in arrears.

Sponsor’s Fee. For the services of the Sponsor as sponsor of the Offering and as full and complete compensation therefor, the Issuer will pay to the Sponsor the sum of $32,100 (inclusive of Goods and Services Tax), the receipt of which is acknowledged by the Sponsor. AG2432.386 [097]