0001144204-10-017900 Sample Contracts

DIRECTOR DEFERRED COMPENSATION AGREEMENT
Director Deferred Compensation Agreement • April 1st, 2010 • United States Short Oil Fund, LP • Commodity contracts brokers & dealers • California

This DIRECTOR DEFERRED COMPENSATION AGREEMENT (“Agreement”) is effective as of April 1, 2010, by and between United States Commodity Funds LLC, a Delaware limited liability company (the “Company”), each of the Funds (as defined below), and the undersigned director of the Company (the “Director”).

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