0001580642-20-002214 Sample Contracts

AMENDMENT TO FUND SERVICES AGREEMENT
Fund Services Agreement • May 29th, 2020 • Arrow ETF Trust

THIS AMENDMENT TO FUND SERVICES AGREEMENT (this “Amendment”) is effective as of October 1, 2016, and is made by and between Gemini Fund Services, LLC, a Nebraska limited liability company (“GFS”), Arrow Investments Trust, a Delaware statutory trust, and Arrow ETF Trust, a Delaware statutory trust (each a “Trust” and together the “Trusts”).

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Certain identified information has been excluded from this exhibit because it is not material and would cause competitive harm to the registrant if publicly disclosed. THIRD AMENDMENT TO FUND SERVICES AGREEMENT
Fund   Services   Agreement • May 29th, 2020 • Arrow ETF Trust

THIS THIRD AMENDMENT TO FUND SERVICES AGREEMENT (this “Amendment”) is effective as of April 1, 2020, and is made by and between Gemini Fund Services, LLC, a Nebraska limited liability company (“GFS”), Arrow Investments Trust, a Delaware statutory trust, and Arrow ETF Trust, a Delaware statutory trust (each a “Trust” and together the “Trusts”).

Certain identified information has been excluded from this exhibit because it is not material and would cause competitive harm to the registrant if publicly disclosed. SECOND AMENDMENT TO FUND SERVICES AGREEMENT
Fund   Services   Agreement • May 29th, 2020 • Arrow ETF Trust

THIS SECOND AMENDMENT TO FUND SERVICES AGREEMENT (this “Amendment”) is effective as of June 1, 2018, and is made by and between Gemini Fund Services, LLC, a Nebraska limited liability company (“GFS”), Arrow Investments Trust, a Delaware statutory trust, and Arrow ETF Trust, a Delaware statutory trust (each a “Trust” and together the “Trusts”).

Certain identified information has been excluded from this exhibit because it is not material and would cause competitive harm to the registrant if publicly disclosed. FOURTH AMENDMENT TO FUND SERVICES AGREEMENT
Fund   Services   Agreement • May 29th, 2020 • Arrow ETF Trust

THIS FOURTH AMENDMENT TO FUND SERVICES AGREEMENT (this “Amendment”) is effective as of January 1, 2020, and is made by and between Gemini Fund Services, LLC, a Nebraska limited liability company (“GFS”), Arrow Investments Trust, a Delaware statutory trust, and Arrow ETF Trust, a Delaware statutory trust (each a “Trust” and together the “Trusts”).

Certain identified information has been excluded from this exhibit because it is not material and would cause competitive harm to the registrant if publicly disclosed. APPENDIX III LIST OF FUNDS SERVICES & FEES
Fund Services Agreement • May 29th, 2020 • Arrow ETF Trust

This Appendix III is part of the Fund Services Agreement dated June 11, 2015, as amended (the “Agreement”), between Arrow Investments Trust, Arrow ETF Trust (the “Trusts”) and Gemini Fund Services, LLC (“GFS”). Set forth below are the Services elected by the Fund(s) identified on this Appendix III along with the associated Fees. Capitalized terms used herein that are not otherwise defined shall have meanings ascribed to them in the Agreement.

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