Common use of Use of the Name Clause in Contracts

Use of the Name. The Adviser has consented to the use by the Portfolio of (a) the name "ProShares" and any derivatives thereof in the name of the Portfolio, and (b) any logos that are now or shall hereafter be associated with the Pro Shares name. Such consent is conditioned upon the employment of the Adviser or an affiliate as the investment adviser to the Portfolio. The name "ProShares" and any logos that are associated with the ProShares name may be used from time to time in other connections and for other purposes by the Adviser and any of its affiliates. The Adviser may require the Portfolio to cease using "ProShares" in the name of the Portfolio and any logos that are associated with the ProShares name if the Portfolio ceases to employ, for any reason, the Adviser, any successor thereto or any affiliate thereof as investment adviser of a Portfolio.

Use of the Name. The Adviser has consented to the use by the Portfolio of (a) the name "ProSharesProFunds" and any derivatives thereof in the name of the Portfolio, and (b) any logos that are now or shall hereafter be associated with the Pro Shares ProFunds name. Such consent is conditioned upon the employment of the Adviser or an affiliate as the investment adviser to the Portfolio. The name "ProSharesProFunds" and any logos that are associated with the ProShares ProFunds name may be used from time to time in other connections and for other purposes by the Adviser and any of its affiliates. The Adviser may require the Portfolio to cease using "ProSharesProFunds" in the name of the Portfolio and any logos that are associated with the ProShares ProFunds name if the Portfolio ceases to employ, for any reason, the Adviser, any successor thereto or any affiliate thereof as investment adviser of a Portfolio.