Company: SVIX
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075845
Chunk: 353

Company: VS Trust
Filing Date: 2025-08-13
Form: 10-Q
Item: Part II, Item 8
Chunk 353
---
CM, its directors, officers, employees, agents and affiliates
(collectively, “indemnified persons”) from and against all claims, damages, losses and costs (including reasonable attorneys’
fees) incurred by the indemnified persons, in connection with: (1) any failure by the Fund to perform its obligations under the Futures
Account Agreement and the FCM’s exercise of its rights and remedies thereunder; (2) any failure by the Fund to comply with applicable
law; (3) any action reasonably taken by the indemnified persons pursuant to the Futures Account Agreement to comply with applicable law;
and (4) any actions taken by the FCM in reliance on instructions, notices and other communications that the FCM and its relevant personnel,
as applicable, reasonably believes to originate from a person authorized to act on behalf of the Fund.

To the extent that the Fund
trades in futures contracts on U.S. exchanges, the assets deposited by the Fund with the FCMs (or another eligible financial institution,
as applicable) as margin must be segregated pursuant to the regulations of the CFTC. Such segregated funds may be invested only in a limited
range of instruments — principally U.S. government obligations to margin futures and forward contract positions.

Options

An option is a contract that gives the purchaser
of the option, in return for the premium paid, the right to buy an underlying reference instrument, such as a specified security index,
or other instrument, from the writer of the option (in the case of a call option), or to sell a specified reference instrument to the
writer of the option (in the case of a put option) at a designated price during the term of the option. The premium paid by the buyer
of an option will reflect, among other things, the relationship of the exercise price to the market price and the volatility of the underlying
reference instrument, the remaining term of the option, supply, demand or interest rates. An American style put or call option may be
exercised at any time during the option period while a European style put or call option may be exercised only upon expiration or during
a fixed period prior thereto. Put and call options are traded on national securities exchanges and in the OTC market. Options traded on
national securities exchanges are within the jurisdiction of the SEC or other appropriate national securities regulator, as are securities
traded on such exchanges. As a result, many of the protections provided to traders on organized exchanges will be available with respect