0000894189-22-003537 Sample Contracts

LISTED FUNDS TRUST INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • May 2nd, 2022 • Listed Funds Trust • Delaware

This INVESTMENT ADVISORY AGREEMENT (the “Agreement”) is made as of this 17th day of March, 2022 by and between LISTED FUNDS TRUST (the “Trust”), a Delaware statutory trust, and MERK INVESTMENTS LLC, a Delaware limited liability company with its principal place of business at 1150 Chestnut Street, Menlo Park, California 94025 (the “Adviser”).

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AMENDMENT TO THE LISTED FUNDS TRUST CUSTODY AGREEMENT
Listed Funds Trust Custody Agreement • May 2nd, 2022 • Listed Funds Trust

THIS AMENDMENT to the Custody Agreement, dated as of April 25, 2019 (the “Agreement”), is entered into as of the last date on the signature block, by and between LISTED FUNDS TRUST, a Delaware statutory trust (the “Trust”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Custodian”).

AMENDMENT TO THE LISTED FUNDS TRUST FUND SERVICING AGREEMENT
Fund Servicing Agreement • May 2nd, 2022 • Listed Funds Trust

THIS AMENDMENT to the Fund Servicing Agreement, dated as of April 25, 2019 (the “Agreement”), is entered into as of the last date on the signature block, by and between LISTED FUNDS TRUST, a Delaware statutory trust (the “Trust”), and U.S. BANCORP FUND SERVICES, LLC d/b/a U.S. BANK GLOBAL FUND SERVICES, a Wisconsin limited liability company (“Fund Services”).

THIRD AMENDMENT TO ETF DISTRIBUTION AGREEMENT
Distribution Agreement • May 2nd, 2022 • Listed Funds Trust

This third amendment (“Amendment”) to the ETF Distribution Agreement (the “Agreement”) dated as of September 30, 2021, by and between Listed Funds Trust (“Trust”) and Foreside Fund Services, LLC (together with Trust, the “Parties”) is effective as of April 29, 2022.

INVESTMENT ADVISORY AGREEMENT with Merk Investments LLC
Investment Advisory Agreement • May 2nd, 2022 • Listed Funds Trust • Delaware

This INVESTMENT ADVISORY AGREEMENT (the “Agreement”) is made as of this 2nd day of May, 2022 by and between Merk Stagflation ETF (Cayman) (the “Company”), a Cayman Islands Exempted Company, and MERK INVESTMENTS LLC, a Delaware limited liability company with its principal place of business at 1150 Chestnut Street, Menlo Park, California 94025 (the “Adviser”).

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