LETTER AGREEMENT

LETTER AGREEMENT

Xxxxxxx Investment Management Company

0000 Xxxxxx Xxxxxx

Xxxxxxx, Xxxxxxxxxx 00000

Re: Supervision and Operational Agreement

Pursuant to Section 1 of the Supervision and Operational Agreement between Xxxxxxx Exchange Traded Funds Trust (“RET”) and Xxxxxxx Investment Management Company (“RIMCo”) dated May 10, 2011, RET advises you that it is creating nine new funds each listed in Appendix A (the “New Funds”). RET desires for RIMCo to provide and/or procure supervisory and operational services with respect to the New Funds pursuant to the terms and conditions of the Supervision and Operational Agreement. The expenses shall be paid pursuant to the Supervision and Operation Agreement dated May 10, 2011.

Please indicate your acceptance to provide supervisory and operational services to the New Funds by executing this letter agreement and returning it to the undersigned.

Sincerely,

XXXXXXX EXCHANGE TRADED FUNDS TRUST
By:		/s/ Xxxxx X. Xxxxxxxx
		Xxxxx X. Xxxxxxxx President and Chief Executive Officer

Accepted this 29 day of September.

XXXXXXX INVESTMENT MANAGEMENT COMPANY
By:		/s/ Xxxx Xxxxxxx
		Xxxx Xxxxxxx President and Chief Executive Officer

APPENDIX A

Xxxxxxx Xxxxx Cap Consistent Growth ETF

Xxxxxxx Xxxxx Cap Low P/E ETF

Xxxxxxx Xxxxx Cap Contrarian ETF

Xxxxxxx Xxxxx Cap Aggressive Growth ETF

Xxxxxxx Developed ex-U.S. High Momentum ETF

Xxxxxxx Developed ex-U.S. High Beta ETF

Xxxxxxx Developed ex-U.S. Low Beta ETF

Xxxxxxx Developed ex-U.S. High Volatility ETF

Xxxxxxx Developed ex-U.S. Low Volatility ETF