0001193125-10-142380 Sample Contracts

Jefferies S&P 500 VIX Short-Term Futures ETF 100,000 Shares Initial Purchaser Agreement
Jefferies S&P 500 VIX Short-Term Futures ETF • June 18th, 2010 • Investors, nec • New York
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FORM OF JEFFERIES S&P 500 VIX SHORT-TERM FUTURES ETF PARTICIPANT AGREEMENT
Participant Agreement • June 18th, 2010 • Jefferies S&P 500 VIX Short-Term Futures ETF • Investors, nec • New York

The undersigned, a duly authorized officer of Jefferies Commodity Investment Services, LLC, a Delaware limited liability company, the managing owner (the “Managing Owner”) of Jefferies S&P 500 VIX Short-Term Futures ETF (the “Trust”), and pursuant to Section 13(c) of the Jefferies S&P 500 VIX Short-Term Futures ETF Participant Agreement (the “Participant Agreement”), dated as of 20 , as amended from time-to-time, by and among the Managing Owner, the Trust and (the “Authorized Participant”), hereby certify that:

TRANSFER AGENCY AND SERVICE AGREEMENT
Transfer Agency and Service Agreement • June 18th, 2010 • Jefferies S&P 500 VIX Short-Term Futures ETF • Investors, nec • New York

AGREEMENT made as of the day of , 2010, by and between each Trust (each, individually, a “Trust” and collectively, the “Trusts”) listed on Appendix I hereto (as such Appendix be amended from time to time), and THE BANK OF NEW YORK MELLON, a New York banking company having its principal office and place of business at One Wall Street, New York, New York 10286 (the “Bank”).

FUND ADMINISTRATION AND ACCOUNTING AGREEMENT
Fund Administration and Accounting Agreement • June 18th, 2010 • Jefferies S&P 500 VIX Short-Term Futures ETF • Investors, nec • New York

AGREEMENT made as of , 2010, by and between each Fund listed on Exhibit A (each a “Fund” and collectively, the “Funds”), and The Bank of New York Mellon, a New York banking organization (“BNY”).

GLOBAL CUSTODY AGREEMENT
Global Custody Agreement • June 18th, 2010 • Jefferies S&P 500 VIX Short-Term Futures ETF • Investors, nec • New York

AGREEMENT, dated as of , 2010, by and between each entity listed in Exhibit A attached hereto, severally and not jointly, and The Bank of New York Mellon (“Custodian”).

ETF Master Agreement
Etf Master Agreement • June 18th, 2010 • Jefferies S&P 500 VIX Short-Term Futures ETF • Investors, nec • New York
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