0001387131-19-001623 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • March 1st, 2019 • Aberdeen Standard Investments ETFs • Delaware

INVESTMENT ADVISORY AGREEMENT (“Agreement”) made as of this 27th day of August, 2018, between ETF Securities Advisors LLC (the “Adviser”) and ETFS Trust, a statutory trust organized under the laws of the State of Delaware (the “Trust”).

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DISTRIBUTION AGREEMENT
Distribution Agreement • March 1st, 2019 • Aberdeen Standard Investments ETFs • Colorado

WHEREAS, the Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”), presently consisting of one or more portfolios (each a “Fund” and collectively the “Funds”);

FIRST AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • March 1st, 2019 • Aberdeen Standard Investments ETFs • Delaware

This FIRST AMENDMENT (this “First Amendment”) to that certain Investment Advisory Agreement dated August 27, 2018, as amended (the “Agreement”), between ETFS Trust (the “Trust”) and ETF Securities Advisors LLC (the “Adviser”) is made and entered into by the foregoing parties as of September 24, 2018. Unless otherwise defined herein, capitalized terms used herein have the meanings specified in or pursuant to the Agreement.

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • March 1st, 2019 • Aberdeen Standard Investments ETFs • Delaware

This SECOND AMENDMENT (this “Second Amendment”) to that certain Investment Advisory Agreement dated August 27, 2018, as amended (the “Agreement”), between Aberdeen Standard Investments ETFs, formerly ETFS Trust (the “Trust”), and Aberdeen Standard Investments ETFs Advisors LLC, formerly ETF Securities Advisors LLC (the “Adviser”), is made and entered into by the foregoing parties as of December 13, 2018. Unless otherwise defined herein, capitalized terms used herein have the meanings specified in or pursuant to the Agreement.

Amendment No. 1 to the Distribution Agreement
Distribution Agreement • March 1st, 2019 • Aberdeen Standard Investments ETFs

This Amendment No. I (this “Amendment”) to the Distribution Agreement is entered into by and between Aberdeen Standard Investments ETFs (formerly, ETFS Trust), a Delaware statutory trust (the “Trust”), and ALPS Distributors, Inc., a Colorado corporation (“ALPS”), and is effective as of October 1, 2018.

FEE WAIVER AGREEMENT
Fee Waiver Agreement • March 1st, 2019 • Aberdeen Standard Investments ETFs • Delaware
FIRST AMENDMENT TO FEE WAIVER AGREEMENT
Fee Waiver Agreement • March 1st, 2019 • Aberdeen Standard Investments ETFs • Delaware

This FIRST AMENDMENT (this “First Amendment”) to that certain Fee Waiver Agreement dated August 27, 2018, as amended (the “Agreement”), between ETFS Trust (the “Trust”) and ETF Securities Advisors LLC (the “Adviser”) is made and entered into by the foregoing parties as of September 24, 2018. Unless otherwise defined herein, capitalized terms used herein have the meanings specified in or pursuant to the Agreement.

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