0001193125-19-239980 Sample Contracts

OPERATING SERVICES AGREEMENT DIREXION SHARES ETF TRUST
Operating Services Agreement • September 6th, 2019 • Direxion Shares ETF Trust • New York

This Operating Services Agreement (the “Agreement”) is made and entered dated May 23, 2019, by and between the Direxion Shares ETF Trust, organized under the laws of the State of Delaware (the “Trust”), on behalf of each of the series of the Trust listed on Schedule A hereto (each a “Fund,” and collectively, the “Funds”), as such schedule may be amended from time to time, and the advisor of the Funds, Direxion Advisors, LLC, a Delaware limited liability company (hereinafter referred to as “Direxion” or the “Advisor”) is effective as to each Fund as of the effective date listed on Schedule A.

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OPERATING SERVICES AGREEMENT DIREXION SHARES ETF TRUST
Operating Services Agreement • September 6th, 2019 • Direxion Shares ETF Trust • New York

This Operating Services Agreement (the “Agreement”) is made and entered dated May 23, 2019, by and between the Direxion Shares ETF Trust, organized under the laws of the State of Delaware (the “Trust”), on behalf of each of the series of the Trust listed on Schedule A hereto (each a “Fund,” and collectively, the “Funds”), as such schedule may be amended from time to time, and the advisor of the Funds, Rafferty Asset Management, LLC, a New York limited liability company (hereinafter referred to as “Rafferty” or the “Advisor”) is effective as to each Fund as of the effective date listed on Schedule A.

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