ETFIS SERIES TRUST I FIFTH AMENDMENT TO THE ADVISORY AGREEMENT
Exhibit (d)(7)
FIFTH AMENDMENT TO THE
THIS FIFTH AMENDMENT dated as of the 8th day of July, 2016, to the Advisory Agreement, dated as of June 4, 2015 (the “Advisory Agreement”), is entered into by and between ETFIS SERIES TRUST I (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), and Virtus ETF Advisers LLC (formerly Etfis Capital LLC), a Delaware limited liability company with its principal place of business at 0000 Xxxxxxxx, Xxx Xxxx, XX 00000 (the “Adviser”).
WHEREAS, each of the Trust and the Adviser is a party to the Advisory Agreement; and
WHEREAS, each of the Trust and the Adviser desires to amend Schedule A to the Advisory Agreement to reflect the addition of Telsey Millennial Consumer ETF (the “Fund”) as a new series of the Trust and the engagement of the Adviser to act as investment adviser for the Fund;
NOW, THEREFORE, the parties agree as follows:
1. Exhibit A to the Advisory Agreement is hereby deleted in its entirety and replaced with Exhibit A attached hereto.
2. Except to the extent amended hereby, the Advisory Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
| ETFIS SERIES TRUST I | VIRTUS ETF ADVISERS LLC | |||
| By: | /s/ Xxxxxxx X. Xxxxxxx | By: | /s/ Xxxxxxx X. Xxxxx | |
| Xxxxxxx X. Xxxxxxx, President | Xxxxxxx X. Xxxxx, President | |||
Exhibit A
SCHEDULE A
to the
between
and
ETFIS CAPITAL LLC
(As of July 8, 2016)
As compensation for the Adviser’s services rendered, the Adviser shall be entitled to a fee, computed daily at an annual rate based on the greater of (1) the minimum fee or (2) the average daily net assets of the respective Fund in accordance with the following fee schedule:
| Fund | Minimum Fee | Rate | ||||||||
| InfraCap REIT Preferred ETF | $ | 25,000 | 0.075 | % | ||||||
| Xxxxxx Tactical Management Multi-Strategy Income ETF | $ | 15,000 | 0.075 | % | ||||||
| Newfleet Multi-Sector Unconstrained Bond ETF | $ | 0 | 0.700 | % | ||||||
| Xxxxxx Utilities ETF | $ | 30,000 | 0.075 | % | ||||||
| The Credit Strategist High Yield Opportunities Fund | $ | 25,000 | 0.075 | % | ||||||
| ActiveAlts Contrarian ETF | $ | 0 | 0.060 | % | ||||||
| AltShares Long/Short High Yield Fund | $ | 0 | 0.150 | % | ||||||
| Cumberland Municipal Bond ETF | $ | 0 | 0.245 | % | ||||||
| iSectors Post-MPT Growth ETF | $ | 25,000 | 0.075 | % | ||||||
| Telsey Millennial Consumer ETF* | $ | 0 | 0.700 | % | ||||||
* With respect to this Fund, the Adviser is responsible for paying all of the expenses of the Fund, including but not limited to the Sub-Adviser’s fee (if any, as described in the Fund’s prospectus), transfer agent fees, underwriting fees, administrative fees and expenses, custodian fees, legal fees, accounting fees, any other expenses (including clerical expenses) of issue, sale, repurchase or redemption of shares, expenses of registering or qualifying shares for sale, transfer taxes, all expenses of preparing the Trust’s registration statement and prospectus for the Fund, and the cost of printing and delivering to shareholders prospectuses and reports; provided, however, that the Adviser will not be responsible for paying for the Adviser’s fee, payments under any 12b-1 plan; taxes and other governmental fees; brokerage fees, commissions and other transaction expenses; interest and other costs of borrowing; litigation or arbitration expenses; acquired fund fees and expenses; or extraordinary expenses of the Fund.
