0000898432-09-000555 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 29th, 2009 • Grail Advisors ETF Trust • Delaware

AGREEMENT, dated as of April 30, 2009 by and between Grail Advisors, LLC, a Delaware limited liability company (“Manager”), American Beacon Advisors, Inc., a Delaware corporation (“Primary Sub-Adviser”), and The Boston Company Asset Management, LLC, a Massachusetts limited liability company (“Sub-Adviser”).

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INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • April 29th, 2009 • Grail Advisors ETF Trust • Delaware

INVESTMENT MANAGEMENT AGREEMENT (“AGREEMENT”), dated as of April 30, 2009 between Grail Advisors ETF Trust, a Delaware statutory trust (“Trust”), and Grail Advisors, LLC, a Delaware limited liability company (“Grail” or “Manager”).

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PRIMARY INVESTMENT SUB-ADVISORY AGREEMENT
Primary Investment Sub-Advisory Agreement • April 29th, 2009 • Grail Advisors ETF Trust • Delaware

AGREEMENT, dated as of April 30, 2009 by and between Grail Advisors, LLC, a Delaware limited liability company (“Manager”), and American Beacon Advisors, Inc., a Delaware corporation (“Primary Sub-Adviser”).

Sample 1
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