Direxion Shares ETF Trust II Sample Contracts

CUSTODY AGREEMENT
Custody Agreement • October 10th, 2013 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • Minnesota

THIS AGREEMENT is made and entered into as of this [ ] day of [ ], 2013, by and between DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), for itself and on behalf of each of its series listed on Appendix A to this Agreement (as amended from time to time) (each a “Fund” ), DIREXION ASSET MANAGEMENT, LLC, the sponsor of the Funds (“Sponsor”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (the “Custodian”).

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DIREXION SHARES ETF TRUST II 33 Whitehall Street, 10th Floor New York, NY 10004 TRUST AGREEMENT July 9, 2010 TRUST AGREEMENT OF DIREXION SHARES ETF TRUST II
Trust Agreement • July 20th, 2010 • Direxion Shares ETF Trust II • Delaware

THIS TRUST AGREEMENT is made and entered into as of, July 12, 2010, by DIREXION ASSET MANAGEMENT, LLC, a New York limited liability company, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as trustee, for the purpose of creating a Delaware statutory trust in accordance with the provisions hereinafter set forth.

FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • Wisconsin

THIS AGREEMENT is made and entered into as of the 28th day of January, 2014, by and between U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“Fund Services”), DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), for itself and on behalf of each of its series listed on Exhibit A to this Agreement (as amended from time to time) (each a “Fund”) and DIREXION ASSET MANAGEMENT, LLC, the sponsor of the Funds (the “Sponsor”).

FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • October 10th, 2013 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • Wisconsin

THIS AGREEMENT is made and entered into as of the [ ] day of [ ], 2013, by and between U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“Fund Services”), DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), for itself and on behalf of each of its series listed on Appendix A to this Agreement (as amended from time to time) (each a “Fund” or an “ETF Series”) and DIREXION ASSET MANAGEMENT, LLC, the sponsor of the Funds (the “Sponsor”).

DISTRIBUTION SERVICES AGREEMENT Registered Commodity Pools
Distribution Services Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • Delaware

This Distribution Services Agreement (the “Agreement”) is made this 3rd day of April, 2013, by and among Direxion Shares ETF Trust II, a Delaware statutory trust, having its principal place of business at 1301 Avenue of the Americas (6th Ave.), 35th Floor, New York, NY 10019, Foreside Fund Services, LLC, a Delaware limited liability company (the “Distributor”), having its principal place of business at Three Canal Plaza, Suite 100, Portland, ME 04101, and Direxion Asset Management, LLC, a Delaware limited liability company (the “Sponsor”), with its principal place of business at 1301 Avenue of the Americas (6th Ave.), 35th Floor, New York, NY 10019.

TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • Wisconsin

THIS AGREEMENT is made and entered into as of the 27th day of December, 2012, by and between U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“Fund Services”), DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), for itself and on behalf of each of its series listed on Appendix A to this Agreement (as amended from time to time) (each a “Fund” ) and DIREXION ASSET MANAGEMENT, LLC, the sponsor of the Funds (the “Sponsor”).

SPONSOR AGREEMENT
Sponsor Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

This Sponsor Agreement (the “Agreement”) is dated as of December 10, 2012 between Direxion Asset Management, LLC, a Delaware limited liability corporation (the “Sponsor”) and Direxion Shares ETF Trust II, a statutory trust organized under the laws of Delaware (the “Trust), both for itself and on behalf of each of its series (each, a “Fund and collectively, the “Funds”).

AMENDMENT TO DISTRIBUTION SERVICES AGREEMENT
Distribution Services Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

This Amendment (the “Amendment”) to the Distribution Services Agreement (the “Agreement”) dated as of April 3, 2013, as amended from time to time, by and among Direxion Shares ETF Trust II (the “Trust”), Asset Management, LLC (“Adviser”), Direxion Asset Management, LLC (the “Sponsor”) and Foreside Fund Services, LLC (“Foreside”) is hereby entered into as of December 17, 2013 (the “Effective Date”).

DIREXION SHARES ETF TRUST II FIRST AMENDMENT TO THE TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

THIS FIRST AMENDMENT, dated as of July 7, 2014, to the Transfer Agent Servicing Agreement dated as of December 27, 2012 (the “Agreement”), is entered into by and among DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), DIREXION ASSET MANAGEMENT, LLC (the “Sponsor”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“Fund Services”).

DIREXION SHARES ETF TRUST II SECOND AMENDMENT TO THE CUSTODY AGREEMENT
The Custody Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

THIS SECOND AMENDMENT, dated as of July 7, 2014, to the Custody Agreement dated as of January 28, 2014, as amended March 31, 2014 (the “Agreement”), is entered into by and among DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), DIREXION ASSET MANAGEMENT, LLC (the “Sponsor”) and U.S. BANK, NATIONAL ASSOCIATION, a national banking association (the “Custodian”).

AMENDMENT TO DISTRIBUTION SERVICES AGREEMENT
Distribution Services Agreement • December 20th, 2013 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

This Amendment (the “Amendment”) to the Distribution Services Agreement (the “Agreement”) dated as of April 3, 2013, as amended from time to time, by and among Direxion Shares ETF Trust II (the “Trust”), Asset Management, LLC (“Adviser”), Direxion Asset Management, LLC (the “Sponsor”) and Foreside Fund Services, LLC (“Foreside”) is hereby entered into as of December 17, 2013 (the “Effective Date”).

DIREXION SHARES ETF TRUST II FIRST AMENDMENT TO THE FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

THIS FIRST AMENDMENT, dated as of July 7, 2014, to the Fund Administration Servicing Agreement dated as of January 28, 2014 (the “Agreement”), is entered into by and among DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), DIREXION ASSET MANAGEMENT, LLC (the “Sponsor”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“Fund Services”).

DIREXION SHARES ETF TRUST II FIRST AMENDMENT TO THE FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

THIS FIRST AMENDMENT, dated as of July 7, 2014, to the Fund Accounting Servicing Agreement dated as of January 28, 2014 (the “Agreement”), is entered into by and among DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), DIREXION ASSET MANAGEMENT, LLC (the “Sponsor”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“Fund Services”).

FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • Wisconsin

THIS AGREEMENT is made and entered into as of the 28th day of January, 2014, by and between U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“Fund Services”), DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), for itself and on behalf of each of its series listed on Exhibit A to this Agreement (as amended from time to time) (each a “Fund” or an “ETF Series”) and DIREXION ASSET MANAGEMENT, LLC, the sponsor of the Funds (the “Sponsor”).

DIREXION SHARES ETF TRUST II PARTICIPANT AGREEMENT
Participant Agreement • October 10th, 2013 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • New York

This Participant Agreement (the “Agreement”), dated as of 2013, is entered into by and among (the “Authorized Participant”), Direxion Shares ETF Trust II a Delaware statutory trust (the “Trust”) organized into separate series as set forth on Schedule A attached hereto (each a “Fund” and collectively, the “Funds”), and Direxion Asset Management, LLC, a New York limited liability company, as sponsor of the Trust (the “Sponsor”).

DIREXION SHARES ETF TRUST II FIRST AMENDMENT TO THE CUSTODY AGREEMENT
Custody Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers

THIS FIRST AMENDMENT, dated as of March 31, 2014, to the Custody Agreement dated as of January 28, 2014, as amended (the “Custody Agreement”), is entered into by and among DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), DIREXION ASSET MANAGEMENT, LLC (the “Sponsor”) and U.S. BANK, NATIONAL ASSOCIATION, a national banking association (the “Custodian”).

Jefferies Bache, LLC Futures Account Agreement
Futures Account Agreement • October 10th, 2013 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • New York

In consideration of Jefferies Bache, LLC (“Jefferies”) agreeing to act as broker or principal, as applicable, in connection with the undersigned’s (hereinafter, “Customer”) transactions in domestic and foreign futures contracts, physical commodities, exchanges of futures for related positions (“EFRP”), options on domestic and foreign futures contracts and physical commodities, foreign exchange instruments and contracts, spot contracts, swaps, swap options, or other derivatives on one or more rates, currencies, commodities, equity securities or other equity instruments, debt securities or other debt instruments, economic indices or measures of economic risk or value or other benchmarks against which payments or deliveries are to be made (hereinafter, collectively referred to as (“Contracts”), all for the account and risk of Customer, Customer hereby agrees and consents as follows:

CUSTODY AGREEMENT
Custody Agreement • October 28th, 2014 • Direxion Shares ETF Trust II • Commodity contracts brokers & dealers • Minnesota

THIS AGREEMENT is made and entered into as of this 28th day of January, 2014, by and between DIREXION SHARES ETF TRUST II, a Delaware statutory trust (the “Trust”), for itself and on behalf of each of its series listed on Exhibit A to this Agreement (as amended from time to time) (each a “Fund” ), DIREXION ASSET MANAGEMENT, LLC, the sponsor of the Funds (“Sponsor”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (the “Custodian”).

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