0000930413-09-003727 Sample Contracts

AUTHORIZED PARTICIPANT AGREEMENT
Authorized Participant Agreement • July 21st, 2009 • Etfs Silver Trust • Gold and silver ores • New York

STANDARD TERMS FOR AUTHORIZED PARTICIPANT AGREEMENTS (the “Standard Terms”) agreed to as of July 20, 2009 by and between The Bank of New York Mellon, a New York banking corporation (the “Trustee”), and ETF Securities USA LLC, a Delaware limited liability company (the “Sponsor”).

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DEPOSITARY TRUST AGREEMENT ETF SECURITIES USA LLC as Sponsor and THE BANK OF NEW YORK MELLON, as Trustee Depositary Trust Agreement ETFS Silver Trust Dated as of July 20, 2009
Depositary Trust Agreement • July 21st, 2009 • Etfs Silver Trust • Gold and silver ores • New York

THIS DEPOSITARY TRUST AGREEMENT dated as of July 20, 2009, between ETF SECURITIES USA LLC, a Delaware limited liability company, as sponsor, and THE BANK OF NEW YORK MELLON, a New York banking corporation, as trustee.

ETFS SILVER TRUST MARKETING AGENT AGREEMENT
Etfs Silver Trust Marketing Agent Agreement • July 21st, 2009 • Etfs Silver Trust • Gold and silver ores • Colorado

MARKETING AGENT AGREEMENT (the “Agreement”) made as of July 16 2009, on behalf of ETFS Silver Trust, a New York trust (the “Fund” or the “Trust”), by and among ETFS Marketing, LLC, a Delaware limited liability company, as agent of the Fund (“ETFS Marketing”) and ALPS Distributors, Inc., a Colorado corporation (the “Marketing Agent”). Capitalized terms used but not defined in this Agreement shall have the meaning ascribed thereto in the Trust’s Prospectus included its Registration Statement on Form S-1 (Registration No. 333-156307), as it may be amended from time-to-time.

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