0001752724-19-010219 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • March 12th, 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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FIRST AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • March 12th, 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.

SECOND AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • March 12th, 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.

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