AUTHORIZED PARTICIPANT AGREEMENT FOR GRAIL ADVISORS ETF TRUSTAuthorized Participant Agreement for Grail Advisors Etf Trust • April 8th, 2009 • Grail Advisors ETF Trust • New York
This Authorized Participant Agreement (this “Agreement”) is entered into by and between ALPS Distributors, Inc. (the “Distributor”) and ________________________________ (the “Authorized Participant” or the “AP”) and is subject to acceptance by The Bank of New York Mellon Corporation (the “BNY ETF Administrator” or the “Transfer Agent”). The Transfer Agent serves as the transfer agent for Grail Advisors ETF Trust (the “Trust”). The Distributor, the Transfer Agent and the Authorized Participant acknowledge and agree that the Trust shall be a third-party beneficiary of this Agreement and shall receive the benefits contemplated by this Agreement, to the extent specified herein. The Distributor has been retained to provide services as principal underwriter of the Trust acting on an agency basis in connection with the sale and distribution of shares of beneficial interest, all without par value (sometimes referred to as “Shares”), of each of the separate investment portfolios of the Trust (e
