# EDGAR Filing Document

**Accession Number:** 0001291446
**File Stem:** 0001580642-26-002143
**Filing Date:** 2026-4
**Character Count:** 139923
**Document Hash:** 6c8d2296247c0ba5c8f04ed781760f4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-26-002143.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001580642-26-002143

**CONFORMED SUBMISSION TYPE**: POS EX

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**EFFECTIVENESS DATE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cantor Fitzgerald Commodity Strategy Trust
- **CENTRAL INDEX KEY:** 0001291446

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** POS EX
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-116212
- **FILM NUMBER:** 26825395

**BUSINESS ADDRESS:**
- **STREET 1:** 110 E. 59TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (855) 922-6867

**MAIL ADDRESS:**
- **STREET 1:** 110 E. 59TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Credit Suisse Commodity Strategy Funds
- **DATE OF NAME CHANGE:** 20120815

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Credit Suisse Commodity Return Strategy Fund
- **DATE OF NAME CHANGE:** 20041007

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Credit Suisse Commodity Plus Strategy Fund
- **DATE OF NAME CHANGE:** 20040521

**As filed with the U.S. Securities and Exchange Commission<br> on April 1, 2026**

**Securities Act File No. 333-116212<br> Investment Company Act File No. 811-21589**

**U.S. SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM N-1A**

---

| | |
|:---|:---|
| REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | ☒ |
| &nbsp;&nbsp;&nbsp;Pre-Effective Amendment No. | ☐ |
| &nbsp;&nbsp;&nbsp;Post-Effective Amendment No. 60 | ☒ |
| and/or | and/or |
| &nbsp;&nbsp;&nbsp;REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT of 1940 | ☒ |
| &nbsp;&nbsp;&nbsp;Amendment No. 63 | ☒ |

---

(Check appropriate box or boxes)

**Cantor Fitzgerald Commodity Strategy Trust<br> (Exact name of registrant as specified in charter)**

**1285 Avenue of the Americas, New York, New York 10019**

(Address of Principal Executive Offices) (Zip Code)

<br> Registrant's Telephone Number, Including Area Code: <u>(212) 915-1722</u>

**Corporation Services Company**

**251 Little Falls Drive**

**Wilmington, Delaware 19808**

**New Castle County**

<br> (Name and Address of Agent for Service)

Copy to:

<br> Terrence O. Davis & Tanya L. Boyle<br> DLA Piper LLP<br> 1201 West Peachtree Street<br> Suite 2900<br> Atlanta, GA

Approximate date of proposed public offering:

It is proposed that this filing will become effective (check appropriate box)

☒ Immediately upon filing pursuant to paragraph (b)

☐ on (date) pursuant to paragraph (b)

☐ 60 days after filing pursuant to paragraph (a)(1)

☐ on (date) pursuant to paragraph (a)(1)

☐ 75 days after filing pursuant to paragraph (a)(2), or

☐ on (date) pursuant to paragraph (a)(2) of Rule 485

If appropriate, check the following box:

☐ This post-effective amendment designates a new effective date for a previously filed post-effective amendment

**EXPLANATORY NOTE**

This Post-Effective Amendment No. 60 to the Registration Statement on Form N-1A (File Nos. 333-116212 and 811-21589) (the "Registration Statement") of Cantor Fitzgerald Commodity Strategy Trust (the "Registrant") is being filed pursuant to Rule 462(d) under the Securities Act of 1933, as amended (the "Securities Act"), solely for the purpose of adding exhibits to the Registration Statement. Accordingly, this Post-Effective Amendment No. 60 consists only of a facing page, this explanatory note, and Part C of the Registration Statement. This Post-Effective Amendment No. 60 does not modify any other part of the Registration Statement and, pursuant to Rule 462(d) under the Securities Act, shall become effective immediately upon filing with the Securities and Exchange Commission. Parts A and B of the Registration Statement are hereby incorporated by reference.

PART C<br>OTHER INFORMATION

Item 28. <u>Exhibits</u>

---

| | | |
|:---|:---|:---|
| **Exhibit No.** | **Exhibit No.** | **Description of Exhibit** |
| a. | (1) | [Certificate of Trust dated May 19, 2004 (incorporated by reference to Exhibit a(1) to Registrant's Registration Statement on Form N-1A, filed on June 4, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404001239/file003.txt) |
|  | (2) | [Trust Instrument dated May 18, 2004 (incorporated by reference to Exhibit a(2) to Registrant's Registration Statement on Form N-1A, filed on June 4, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404001239/file004.txt) |
|  | (3) | [Amendment to Certificate of Trust dated July 26, 2004 (incorporated by reference to Exhibit a(3) to Registrant's Pre-Effective Amendment No. 1 to the Registration Statement on Form N-1A filed on October 1, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002243/file003.txt) |
|  | (4) | [Amendment to Trust Instrument dated July 26, 2004 (incorporated by reference to Exhibit a(4) to Registrant's Pre-Effective Amendment No. 1 to the Registration Statement on Form N-1A filed on October 1, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002243/file004.txt) |
|  | (5) | [Certificate of Amendment to Certificate of Trust (incorporated by reference to Exhibit a(5) to Registrant's Post-Effective Amendment No. 13 to the Registration Statement on Form N-1A, filed on September 20, 2012).](https://www.sec.gov/Archives/edgar/data/1291446/000110465912064608/a12-16221_1ex99da5.htm) |
|  | (6) | [Amendment to the Trust Instrument and Bylaws (incorporated by reference to Exhibit a(6) to Registrant's Post-Effective Amendment No. 13 to the Registration Statement on Form N-1A, filed on September 20, 2012).](https://www.sec.gov/Archives/edgar/data/1291446/000110465912064608/a12-16221_1ex99da6.htm) |
|  | (7) | [Certificate of Establishment and Designation for Credit Suisse Commodity ACCESS Strategy Fund (incorporated by reference to Exhibit a(7) to Registrant's Post-Effective Amendment No. 13 to the Registration Statement on Form N-1A, filed on September 20, 2012).](https://www.sec.gov/Archives/edgar/data/1291446/000110465912064608/a12-16221_1ex99da7.htm) |
|  | (8) | [Certificate of Establishment and Designation for Credit Suisse Commodity Return Strategy Fund (incorporated by reference to Exhibit a(8) to Registrant's Post-Effective Amendment No. 13 to the Registration Statement on Form N-1A, filed on September 20, 2012).](https://www.sec.gov/Archives/edgar/data/1291446/000110465912064608/a12-16221_1ex99da8.htm) |
|  | (9) | [Certificate of Establishment and Designation for Credit Suisse Gold and Income Strategy Fund (incorporated by reference to Exhibit a(9) to Registrant's Post-Effective Amendment No. 17 to the Registration Statement on Form N-1A, filed on May 16, 2013).](https://www.sec.gov/Archives/edgar/data/1291446/000110465913042455/a13-11721_1ex99dad9.htm) |
|  | (10) | [Certificate of Termination for Credit Suisse Commodity ACCESS Strategy Fund (incorporated by reference to Exhibit a(10) to Registrant's Post-Effective Amendment No. 46 to the Registration Statement on Form N-1A, filed on February 28, 2019).](https://www.sec.gov/Archives/edgar/data/1291446/000110465919011356/a18-41736_1ex99da10.htm) |
| b. | (1) | [Bylaws as adopted May 18, 2004. (incorporated by reference to Exhibit b(1) to Registrant's Registration Statement on Form N-1A, filed on June 4, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404001239/file005.txt) |
|  | (2) | [Amendment to Bylaws dated July 27, 2004. (incorporated by reference to Exhibit b(2) to Registrant's Pre-Effective Amendment No. 1 to the Registration Statement on Form N-1A filed on October 1, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002243/file005.txt) |
|  | (3) | [Amendment to Bylaws dated July 30, 2024 (incorporated by reference to Exhibit b(3) to Registrant's Post-Effective Amendment No. 54 to the Registration Statement on Form N-1A filed on February 28, 2025).](http://www.sec.gov/Archives/edgar/data/1291446/000110465925018957/tm251618d1_ex99-bx3.htm) |
| c. |  | [Registrant's Form of Shares of Beneficial Interest. (incorporated by reference to Exhibit c to Registrant's Pre-Effective Amendment No. 1 to the Registration Statement on Form N-1A filed on October 1, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002243/file006.txt) |

---

d. (1) [Investment Management Agreement with Credit Suisse Asset Management, LLC ("CSAM") dated September 26, 2023, (incorporated by reference to Exhibit d(1) to Registrant's Post-Effective Amendment No. 53 to the Registration Statement on Form N-1A, filed on February 28, 2024).](http://www.sec.gov/Archives/edgar/data/1291446/000110465924028567/tm241409d4_ex99-dx1.htm)

(2) [Amendment to Investment Management Agreement dated May 1, 2024 (incorporated by reference to Exhibit d(2) to Registrant's Post-Effective Amendment No. 54 to the Registration Statement on Form N-1A, filed on February 28, 2025).](https://www.sec.gov/Archives/edgar/data/1291446/000110465925018957/tm251618d1_ex99-dx2.htm)

(3) [Expense Limitation Agreement with UBS AM (Americas) with respect to Credit Suisse Commodity Return Strategy Fund dated November 11, 2025 (incorporated by reference to Exhibit d(3) to Registrant's Post-Effective Amendment No. 55 to the Registration Statement on Form N-1A, filed on December 3, 2025).](https://www.sec.gov/Archives/edgar/data/1291446/000110465925118162/tm2532286d1_ex99-dx3.htm)

(4) [Investment Advisory Agreement with O'Connor Alternative Investments, LLC ("O'Connor Alternative Investments") dated April 1, 2026, filed herewith](ex99d4.htm) .

(5) [Expense Limitation Agreement with O'Connor Alternative Investments dated April 1, 2026, filed herewith](ex99d5.htm) .

e. (1) [Distribution Agreement with UBS Asset Management (US) Inc. ("UBS AM (US)") dated May 1, 2024 (incorporated by reference to Exhibit e(1) to Registrant's Post-Effective Amendment No. 54 to the Registration Statement on Form N-1A, filed on February 28, 2025).](https://www.sec.gov/Archives/edgar/data/1291446/000110465925018957/tm251618d1_ex99-e.htm)

(2) [Distribution Agreement with Ultimus Fund Distributors, LLC ("Ultimus") dated April 1, filed herewith](ex99e2.htm) .

f. Not applicable.

g. (1) [Custodian Agreement with State Street Bank and Trust Company ("State Street") dated October 20, 2000 (incorporated by reference to Exhibit g(1) to Post-Effective Amendment No. 14 to the Registration Statement on Form N-1A of Credit Suisse Trust, filed on November 22, 2000 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000095012300010995/w41279ex99-g_1.txt)

(2) [Amendment to Custodian Agreement with State Street dated April 26, 2001 (incorporated by reference to Exhibit g(2) to Post-Effective Amendment No. 16 to the Registration Statement on Form N-1A of Credit Suisse Trust, filed on June 29, 2001 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000095012301504037/w50699ex99-g_2.txt)

(3) [Amendment to Custodian Agreement with State Street dated May 16, 2001 (incorporated by reference to Exhibit g(3) to Post-Effective Amendment No. 16 to the Registration Statement on Form N-1A of Credit Suisse Trust, filed on June 29, 2001 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000095012301504037/w50699ex99-g_3.txt)

(4) [Amendment to Custodian Agreement with State Street dated November 16, 2005 (incorporated by reference to Exhibit g(8) to Registrant's Post-Effective Amendment No. 1 to the Registration Statement on Form N-1A filed on February 27, 2006).](https://www.sec.gov/Archives/edgar/data/1291446/000089180406000916/file005.txt)

(5) [Amendment to Custodian Agreement with State Street dated November 1, 2011 (incorporated by reference to Exhibit g(6) to Registrant's Post-Effective Amendment No.10 to the Registration Statement on Form N-1A, filed on February 28, 2012).](https://www.sec.gov/Archives/edgar/data/1291446/000110465912014123/a12-2253_1ex99dg6.htm)

(6) [Amendment to Custodian Agreement with State Street effective March 30, 2012 (incorporated by reference to Exhibit g(6) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dg6.htm)

(7) [Amendment to Custodian Agreement with State Street effective September 28, 2012 (incorporated by reference to Exhibit g(8) to Registrant's Post-Effective Amendment No. 15 to the Registration Statement on Form N-1A, filed on February 28, 2013).](https://www.sec.gov/Archives/edgar/data/1291446/000110465913016216/a13-2727_2ex99dgd8.htm)

(8) [Amendment to Custodian Agreement with State Street effective November 27, 2013 (incorporated by reference to Exhibit g(8) to Post-Effective Amendment No. 54 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on January 14, 2014 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465914002351/a14-3452_1ex99dg8.htm)

(9) [Amendment to Custodian Agreement with State Street effective March 30, 2014 (incorporated by reference to Exhibit g(9) to Post-Effective Amendment No. 57 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on March 28, 2014 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465914024006/a14-3452_1ex99dg9.htm)

(10) [Amendment to Custodian Agreement with State Street effective February 28, 2015 (incorporated by reference to Exhibit g(10) to Post-Effective Amendment No. 68 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on December 28, 2015 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465915086888/a15-24943_1ex99dg10.htm)

h. (1) [Transfer Agency and Service Agreement with DST Asset Manager Solutions, Inc. dated October 26, 2018, (incorporated by reference to Exhibit h(1) to Post-Effective Amendment No. 51 to the Registration Statement on Form N-1A, filed on February 25, 2022).](http://www.sec.gov/Archives/edgar/data/1291446/000110465922027267/tm2135923d1_ex99h1.htm)

(2) [Co-Administration Agreement with State Street dated March 18, 2002 (incorporated by reference to Exhibit h to Pre-Effective Amendment No. 1 to the Registration Statement on Form N-1A of Credit Suisse Strategic Small Cap Fund, Inc., filed on May 3, 2002 (Securities Act File No. 333-64554)).](https://www.sec.gov/Archives/edgar/data/1144245/000091205702018417/a2078776zex-99_h3.txt)

(3) [Amendment No. 1 to Co-Administration Agreement with State Street dated January 1, 2007 (incorporated by reference to Exhibit h(7) to Registrant's Post-Effective Amendment No. 2 to the Registration Statement on Form N-1A, filed on February 28, 2007).](https://www.sec.gov/Archives/edgar/data/1291446/000110465907014776/a07-2155_1ex99dh7.htm)

(4) [Amendment No. 2 to Co-Administration Agreement with State Street dated November 1, 2011 (incorporated by reference to Exhibit h(7) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh7.htm)

(5) [Amendment No. 3 to Co-Administration Agreement with State Street dated March 19, 2014 (incorporated by reference to Exhibit h(8) to Post-Effective Amendment No. 40 to the Registration Statement on Form N-1A of Credit Suisse Trust, filed on April 14, 2014 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465914027606/a14-7233_1ex99dh8.htm)

(6) [Amendment to Co-Administration Agreement with State Street effective March 27, 2012 (incorporated by reference to Exhibit h(8) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh8.htm)

(7) [Amendment to Co-Administration Agreement with State Street effective September 28, 2012 (incorporated by reference to Exhibit h(9) to Post-Effective Amendment No. 15 to the Registrant's Registration Statement on Form N-1A, filed on February 28, 2013).](https://www.sec.gov/Archives/edgar/data/1291446/000110465913016216/a13-2727_2ex99dhd9.htm)

(8) [Amendment to Co-Administration Agreement with State Street effective December 20, 2013 (incorporated by reference to Exhibit h(13) to Post-Effective Amendment No. 54 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on January 14, 2014 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465914002351/a14-3452_1ex99dh13.htm)

(9) [Amendment to Co-Administration Agreement with State Street effective March 28, 2014 (incorporated by reference to Exhibit h(14) to Post-Effective Amendment No. 61 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on November 19, 2014 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465914082017/a14-16726_1ex99dh14.htm)

(10) [Amendment to Co-Administration Agreement with State Street, effective February 27, 2015 (incorporated by reference to Exhibit h(13) to Post-Effective Amendment No. 68 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on December 28, 2015 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465915086888/a15-24943_1ex99dh13.htm)

(11) [Amendment to Co-Administration Agreement with State Street, effective June 1, 2018. (incorporated by reference to Exhibit h(21) to Post-Effective Amendment No. 46 to the Registrant's Registration Statement on Form N-1A filed on February 28, 2019).](https://www.sec.gov/Archives/edgar/data/1291446/000110465919011356/a18-41736_1ex99dh21.htm)

(12) [Amendment to Co-Administration Agreement with State Street effective December 31, 2024, (incorporated by reference to Exhibit h(12) to Post-Effective Amendment No. 57 to the Registrant's Registration Statement on Form N-1A filed on February 27, 2026.](https://www.sec.gov/Archives/edgar/data/1291446/000110465926021551/tm261673d1_ex99-hx12.htm)

(13) [Securities Lending Authorization Agreement with State Street Bank and Trust Company dated March 17, 2004 (incorporated by reference to Exhibit h(7) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh7.htm)

(14) [First Amendment to Securities Lending Authorization Agreement dated December 17, 2004 (incorporated by reference to Exhibit h(8) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh8.htm)

(15) [Second Amendment to Securities Lending Authorization Agreement dated May 17, 2006 (incorporated by reference to Exhibit h(9) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh9.htm)

(16) [Third Amendment to Securities Lending Authorization Agreement dated September 15, 2006 (incorporated by reference to Exhibit h(10) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh10.htm)

(17) [Fourth Amendment to the Securities Lending Authorization Agreement dated July 16, 2007 (incorporated by reference to Exhibit h(11) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh11.htm)

(18) [Fifth Amendment to Securities Lending Authorization Agreement dated August 27, 2007 (incorporated by reference to Exhibit h(12) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh12.htm)

(19) [Sixth Amendment to Securities Lending Authorization Agreement dated December 1, 2007 (incorporated by reference to Exhibit h(13) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh13.htm)

(20) [Seventh Amendment to the Securities Lending Authorization Agreement dated April 17, 2009 (incorporated by reference to Exhibit h(14) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh14.htm)

(21) [Eighth Amendment to the Securities Lending Authorization Agreement dated May 21, 2009 (incorporated by reference to Exhibit h(17) to Post-Effective Amendment No.10 to the Registrant's Registration Statement on Form N-1A, filed on February 28, 2012).](https://www.sec.gov/Archives/edgar/data/1291446/000110465912014123/a12-2253_1ex99dh17.htm)

(22) [Ninth Amendment to the Securities Lending Authorization Agreement dated November 1, 2011 (incorporated by reference to Exhibit h(18) to Post-Effective Amendment No.10 to the Registrant's Registration Statement on Form N-1A, filed on February 28, 2012).](https://www.sec.gov/Archives/edgar/data/1291446/000110465912014123/a12-2253_1ex99dh18.htm)

(23) [Tenth Amendment to Securities Lending Authorization Agreement dated March 6, 2012 (incorporated by reference to Exhibit h(25) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh25.htm)

(24) [Eleventh Amendment to Securities Lending Authorization Agreement effective](https://www.sec.gov/Archives/edgar/data/1291446/000110465913016216/a13-2727_2ex99dhd26.htm) [October 4, 2012 (incorporated by reference to Exhibit h(26) to Post-Effective Amendment No. 15 to the Registrant's Registration Statement on Form N-1A, filed on February 28, 2013).](https://www.sec.gov/Archives/edgar/data/1291446/000110465913016216/a13-2727_2ex99dhd26.htm)

(25) [Securities Lending and Services Agreement with State Street Bank and Trust Company dated April 17, 2009 (incorporated by reference to Exhibit h(15) to Post-Effective Amendment No. 30 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 28, 2009 (Securities Act File No. 33-58125)).](https://www.sec.gov/Archives/edgar/data/941568/000110465909026781/a09-6329_1ex99dh15.htm)

(26) [Combined U.S. Accounting, Administration Fee Schedule Revised June 1, 2009 (incorporated by reference to Exhibit h(14) to Post-Effective Amendment No. 6 to the Registrant's Registration Statement on Form N-1A, filed on December 23, 2009).](https://www.sec.gov/Archives/edgar/data/1291446/000110465909071313/a09-35275_1ex99dh14.htm)

(27) [<br> Committed Line of Credit Agreement with State Street Bank and Trust Company dated June 10, 2009 (incorporated by reference to Exhibit h(29) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982))](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh29.htm) .

(28) [First Amendment to Committed Line of Credit Agreement dated June 30, 2009 (incorporated by reference to Exhibit h(30) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh30.htm)

(29) [Second Amendment to Committed Line of Credit Agreement dated July 17, 2009 (incorporated by reference to Exhibit h(31) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh31.htm)

(30) [Third Amendment to Committed Line of Credit Agreement dated June 9, 2010 (incorporated by reference to Exhibit h(32) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh32.htm)

(31) [Fourth Amendment to Committed Line of Credit Agreement dated June 8, 2011 (incorporated by reference to Exhibit h(33) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh33.htm)

(32) [Fifth Amendment to Committed Line of Credit Agreement dated March 30, 2012 (incorporated by reference to Exhibit h(34) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh34.htm)

(33) [Sixth Amendment to Committed Line of Credit Agreement dated June 6, 2012 (incorporated by reference to Exhibit h(35) to Post-Effective Amendment No. 43 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on July 5, 2012 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465912047650/a12-15766_1ex99dh35.htm)

(34) [Seventh Amendment to Committed Line of Credit Agreement dated October 19, 2012 (incorporated by reference to Exhibit h(36) to Post-Effective Amendment No. 15 to the Registrant's Registration Statement on Form N-1A, filed on February 28, 2013 (Securities Act File No. 333-116212).](https://www.sec.gov/Archives/edgar/data/1291446/000110465913016216/a13-2727_2ex99dhd36.htm)

(35) [Eighth Amendment to Committed Line of Credit Agreement dated June 5, 2013 (incorporated by reference to Exhibit h(44) to Post-Effective Amendment No. 51 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on October 11, 2013 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465913075356/a13-22149_1ex99dh44.htm)

(36) [Ninth Amendment to Committed Line of Credit Agreement dated June 4, 2014 (incorporated by reference to Exhibit h(48) to Post-Effective Amendment No. 61 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on November 19, 2014 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465914082017/a14-16726_1ex99dh48.htm)

(37) [Tenth Amendment to Committed Line of Credit Agreement dated June 3, 2015 (incorporated by reference to Exhibit h(50) to Post-Effective Amendment No. 68 to the Registration Statement on Form N-1A of Credit Suisse Opportunity Funds, filed on December 28, 2015 (Securities Act File No. 33-92982)).](https://www.sec.gov/Archives/edgar/data/946110/000110465915086888/a15-24943_1ex99dh50.htm)

(38) [Eleventh Amendment to Committed Line of Credit Agreement dated March 11, 2016 (incorporated by reference to Exhibit h(46) to Post-Effective Amendment No. 28 to the Registrant's Registration Statement on Form N-1A, filed on February 27, 2017).](https://www.sec.gov/Archives/edgar/data/1291446/000110465917012014/a16-23316_1ex99dh46.htm)

(39) [Twelfth Amendment to Committed Line of Credit Agreement dated March 10, 2017 (incorporated by reference to Exhibit h(47) to Post-Effective Amendment No. 43 to the Registrant's Registration Statement on Form N-1A, filed on February 27, 2018).](https://www.sec.gov/Archives/edgar/data/1291446/000110465918012614/a17-28605_1ex99dh47.htm)

(40) [Thirteen Amendment to Committed Line of Credit Agreement dated November 3, 2017 (incorporated by reference to Exhibit h(48) to Post-Effective Amendment No. 43 to the Registrant's Registration Statement on Form N-1A, filed on February 27, 2018).](https://www.sec.gov/Archives/edgar/data/1291446/000110465918012614/a17-28605_1ex99dh48.htm)

(41) [Fourteenth Amendment to Committed Line of Credit Agreement dated March 9, 2018 (incorporated by reference to Exhibit h(50) to Post-Effective Amendment No. 46 to the Registrant's Registration Statement on Form N-1A, filed on February 28, 2019).](https://www.sec.gov/Archives/edgar/data/1291446/000110465919011356/a18-41736_1ex99dh50.htm)

(42) [Fifteenth Amendment to Committed Line of Credit Agreement dated March 8, 2019 (incorporated by reference to Exhibit h(51) to Post-Effective Amendment No. 48 to the Registrant's Registration Statement on Form N-1A, filed on February 27, 2020).](https://www.sec.gov/Archives/edgar/data/1291446/000110465920025729/a20-1027_1ex99dh51.htm)

(43) [Sixteenth Amendment to Committed Line of Credit Agreement dated March 6, 2020, (incorporated by reference to Exhibit h(52) to Post-Effective Amendment No. 50 to the Registrant's Registration Statement on Form N-1A, filed on February 26, 2021).](https://www.sec.gov/Archives/edgar/data/1291446/000110465921028981/tm211425d1_ex99-h52.htm)

(44) [Seventeenth Amendment to Committed Line of Credit Agreement dated March 5, 2021, incorporated by reference to Exhibit h(43) to Post-Effective Amendment No. 51 to the Registrant's Registration Statement on Form N-1A, filed on February 25, 2022.](http://www.sec.gov/Archives/edgar/data/1291446/000110465922027267/tm2135923d1_ex99h43.htm)

(45) [Eighteenth Amendment to Committed Line of Credit Agreement dated August 20, 2021, incorporated by reference to Exhibit h(44) to Post-Effective Amendment No. 51 to the Registrant's Registration Statement on Form N-1A, filed on February 25, 2022.](http://www.sec.gov/Archives/edgar/data/1291446/000110465922027267/tm2135923d1_ex99h44.htm)

(46) [Nineteenth Amendment to Committed Line of Credit dated March 4, 2022 (incorporated by reference to Exhibit h(46) to Post-Effective Amendment No. 59 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 15, 2022. (Securities Act File No. 33-58125).](http://www.sec.gov/Archives/edgar/data/941568/000110465922046299/tm227878d1_ex99-h46.htm)

(47) [Twentieth Amendment to Committed Line of Credit dated March 3, 2023, incorporated by reference to Exhibit h(47) to Post-Effective Amendment No. 60 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 17, 2023 Securities Act File No. 33-58125).](https://www.sec.gov/Archives/edgar/data/941568/000110465923046044/tm238195d1_ex99-h47.htm)

(48) [Twenty-first Amendment to Committed Line of Credit dated March 1, 2024, incorporated by reference to Exhibit h(48) to Post-Effective Amendment No. 61 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 17, 2024 (Securities Act File No. 33-58125).](https://www.sec.gov/Archives/edgar/data/941568/000110465924047945/tm247618d1_ex99-hx48.htm)

(49) [Twenty-second Amendment to Committed Line of Credit dated February 28, 2025, incorporated by reference to Exhibit h(49) to Post-Effective Amendment No. 62 to the Registration Statement on Form N-1A of Credit Suisse Trust filed on April 16, 2025 (Securities Act File No. 33-58125).](http://www.sec.gov/Archives/edgar/data/941568/000110465925035552/tm252052d1_ex99-hx49.htm)

i. (1) [Opinion and Consent of Willkie Farr & Gallagher LLP, counsel to the Fund (incorporated by reference to Exhibit i(1) to Pre-Effective Amendment No. 3 to the Registrant's Registration Statement on Form N-1A, filed on December 9, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002840/file003.txt)

(2) [Opinion and Consent of Richards, Layton & Finger, P.A., Delaware counsel to the Fund, with respect to the Credit Suisse Commodity Return Strategy Fund (incorporated by reference to Exhibit i(2) to Pre-Effective Amendment No. 3 to the Registrant's Registration Statement on Form N-1A, filed on December 9, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002840/file004.txt)

j. (1) [Consent of Independent Registered Public Accounting Firm, (incorporated by reference to Post-Effective Amendment No. 59 to the Registrant's Registration Statement on Form N-1A, filed on March 23, 2026)](https://www.sec.gov/Archives/edgar/data/1291446/000110465926033408/tm268943d1_ex99-jx1.htm) .

(2) [Power of Attorney for the Trust is filed herewith](ex99j2.htm) . [Powers of Attorney for the trustees and officers of the trust](https://www.sec.gov/Archives/edgar/data/1291446/000110465926033408/tm268943d1_ex99-jx2.htm) (incorporated by reference to Post-Effective Amendment No. 59 to the Registrant's Registration Statement on Form N-1A, filed on March 23, 2026).

k. Not applicable.

l. (1) [Purchase Agreement for Credit Suisse Commodity Return Strategy Fund for Class A, Class C and Common Class Shares dated November 30, 2004 (incorporated by reference to Exhibit l to Post-Effective Amendment No. 1 to the Registrant's Registration Statement on Form N-1A filed on February 27, 2006).](https://www.sec.gov/Archives/edgar/data/1291446/000089180406000916/file009.txt)

m. (1) [Distribution Plan for Class A Shares of Credit Suisse Commodity Return Strategy Fund (incorporated by reference to Exhibit m(1) to Registrant's Pre-Effective Amendment No. 1 to the Registration Statement on Form N-1A filed on October 1, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002243/file011.txt)

(2) [Distribution Plan for Class C Shares of Credit Suisse Commodity Return Strategy Fund (incorporated by reference to Exhibit m(2) to Registrant's Pre-Effective Amendment No. 1 to the Registration Statement on Form N-1A filed on October 1, 2004).](https://www.sec.gov/Archives/edgar/data/1291446/000089180404002243/file012.txt)

(3) [Amendment No. 1 to Plans of Distribution pursuant to Rule 12b-1 (incorporated by reference to Exhibit m(3) to Registrant's Post-Effective Amendment No. 54 to the Registration Statement on Form N-1A, filed on February 28, 2025).](https://www.sec.gov/Archives/edgar/data/1291446/000110465925018957/tm251618d1_ex99-mx3.htm)

n. [Amended and Restated Rule 18f-3 Plan (incorporated by reference to Exhibit n to Post-Effective Amendment No. 48 to the Registrant's Registration Statement on Form N-1A, filed on February 27, 2020).](https://www.sec.gov/Archives/edgar/data/1291446/000110465920025729/a20-1027_1ex99dn.htm)

o. Not applicable.

p. (1) [Code of Ethics of the Registrant](https://www.sec.gov/Archives/edgar/data/1291446/000110465926033408/tm268943d1_ex99-px1.htm) (incorporated by reference to Post-Effective Amendment No. 59 to the Registrant's Registration Statement on Form N-1A, filed on March 23, 2026).

(2) [Code of Ethics of O'Connor Alternative Investments](https://www.sec.gov/Archives/edgar/data/1291446/000110465926033408/tm268943d1_ex99-px2.htm) (incorporated by reference to Post-Effective Amendment No. 59 to the Registrant's Registration Statement on Form N-1A, filed on March 23, 2026).

(3) [Code of Ethics of Ultimus](https://www.sec.gov/Archives/edgar/data/1291446/000110465926033408/tm268943d1_ex99-px3.htm) (incorporated by reference to Post-Effective Amendment No. 59 to the Registrant's Registration Statement on Form N-1A, filed on March 23, 2026).

Item 29. <u>Persons Controlled by or Under Common Control with Registrant</u>

From time to time, O'Connor Alternative Investments, LLC, may be deemed to control the Cantor Fitzgerald Commodity Return Strategy Portfolio and other registered investment companies it advises through its beneficial ownership of more than 25% of the relevant fund's shares on behalf of discretionary advisory clients. The Trust through the Cantor Fitzgerald Commodity Return Strategy Portfolio, a portfolio of the Trust, wholly owns and controls the Cantor Fitzgerald Cayman Commodity Fund II, Ltd. ("Subsidiary"), a company organized under the laws of the Cayman Islands. The Subsidiary's financial statements are included, on a consolidated basis, in the Cantor Fitzgerald Commodity Return Strategy Portfolio's annual and semi-annual reports to shareholders.

Item 30. <u>Indemnification</u>

Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

Item 31. <u>Business and Other Connections of Investment Advisor</u>

The Advisor provides investment advisory services consisting of portfolio management for a variety of individuals and institutions. For information as to any other business, vocation or employment of a substantial nature in which the Registrant's investment advisor and each officer of the Registrant's investment advisor is or has been engaged for his or her own account or in the capacity of director, officer, employee, partner or trustee, within the last two fiscal years, see the Advisor's Form ADV (File #801-133741) filed under the Investment Advisers Act of 1940, as amended. The Advisor's Form ADV may be obtained, free of charge, at the SEC's website at www.adviserinfo.sec.gov.

Item 32. <u>Principal Underwriters</u>

1. <u>Ultimus Fund Distributors, LLC</u> 

(a) Ultimus Fund Distributors, LLC also serves as a principal underwriter for the following investment companies:

---

| | |
|:---|:---|
| American Pension Investors Trust (d/b/a Yorktown Funds) | Unified Series Trust |
| Bruce Fund, Inc. | Valued Advisers Trust |
| Caldwell & Orkin Funds, Inc. | VELA Funds |
| Cantor Select Portfolios Trust | Volumetric Fund |
| Capitol Series Trust | Waycross Independent Trust |
| Centaur Mutual Funds Trust | Wesmark Funds |
| Chesapeake Investment Trust | Williamsburg Investment Trust |
| CM Advisors Family of Funds | XD Fund Trust |
| Commonwealth International Series Trust | Peachtree Alternative Strategies Fund |
| Conestoga Funds | Lind Capital Partners Municipal Credit Income Fund |
| Connors Funds | Fairway Private Markets Fund |
| Eubel Brady & Suttman Mutual Fund Trust | Dynamic Alternatives Fund |
| Exchange Place Advisors Trust | Cantor Fitzgerald Infrastructure Fund |
| HC Capital Trust | Flat Rock Enhanced Income Fund |
| Hussman Investment Trust | Beacon Pointe Multi-Alternative Fund |
| James Advantage Funds | Axxes Private Markets Fund |
| Johnson Mutual Funds | Axxes Opportunistic Credit Fund |
| MSS Series Trust | MidBridge Private Markets Fund |
| New Age Alpha Variable Funds Trust | Flat Rock Core Income Fund |
| New Age Alpha Funds Trust | Flat Rock Opportunity Fund |
| Oak Associates Funds | Booster Income Opportunities Launch |
| ONEFUND TRUST | OneAscent Capital Opportunities Fund |
| Papp Investment Trust | CAZ Strategic Opportunities Fund |
| Plumb Funds | 83 Investment Group Income Fund |
| Schwartz Investment Trust | Private Debt & Income Fund |
| Segall Bryant & Hamill Trust | Prospect Enhanced Yield Fund |
| The Cutler Trust | Sardis Credit Opportunities Fund |
| The Investment House Funds | Pennant Park Enhanced Income Fund |
| Ultimus Managers Trust | Cantor Fitzgerald Commodity Strategy Trust |

---

(b) The officers of Ultimus Fund Distributors, LLC are as follows:

---

| | | |
|:---|:---|:---|
| Name\* | Title | Position with Trust |
| Kevin M. Guerette\* | President | None |
| Stephen L. Preston\* | Vice President, Chief Compliance Officer, Financial Operations Principal, and Anti-Money Laundering Compliance Officer | AML Officer |
| Melvin Van Cleave\* | Chief Information Security Officer | None |
| Douglas K. Jones\* | Vice President | None |

---

\* The principal business address of these individuals is 225 Pictoria Dr., Suite 450, Cincinnati, OH 45246

(c) None.

Item 33. <u>Location of Accounts and Records</u>

All accounts, books and documents required to be maintained by the Registrant pursuant to Section 31(a) of the Investment Company Act of 1940 and Rules 31a-1 through 31a-3 thereunder are maintained at the office of the Registrant, Adviser, Principal Underwriter, Transfer Agent, Fund Accountant, Administrator and Custodian at the addresses stated in the SAI.

Item 34. <u>Management Services</u>

Not applicable.

Item 35. <u>Undertakings</u>

Not applicable.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant has duly caused this Amendment to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Atlanta and the State of Georgia, on the 1<sup>st</sup> day of April, 2026.

---

| | |
|:---|:---|
| CANTOR FITZGERALD COMMODITY STRATEGY TRUST | CANTOR FITZGERALD COMMODITY STRATEGY TRUST |
| By: | /s/ Tanya L. Boyle |
|  | Tanya L. Boyle |
|  | Attorney-in-Fact |

---

Pursuant to the requirements of the Securities Act of 1933, as amended, this Amendment has been signed below by the following persons in the capacities and on the date indicated:

---

| | | |
|:---|:---|:---|
| **SIGNATURE** | **TITLE** | **DATE** |
| /s/ William Ferri\* | Trustee, Chief Executive Officer, and President | April 1, 2026 |
| William Ferri |  |  |
| /s/ Dylan Germishuys\* | Chief Financial Officer, Principal Accounting Officer, and Treasurer | April 1, 2026 |
| Dylan Germishuys |  |  |
| /s/ Douglas Barnard\* | Trustee | April 1, 2026 |
| Douglas Barnard |  |  |
| /s/ Ramona Heine\* | Trustee | April 1, 2026 |
| Ramona Heine |  |  |
| /s/ Louis Zurita\* | Trustee | April 1, 2026 |
| Louis Zurita |  |  |

---

---

| | |
|:---|:---|
| \*By: | /s/ Tanya L. Boyle |
|  | Tanya L. Boyle, as Attorney-in-Fact |

---

**INDEX TO EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| [d(4)](ex99d4.htm) | [Investment Advisory Agreement with O'Connor Alternative Investments.](ex99d4.htm) |
| [d(5)](ex99d5.htm) | [Expense Limitation Agreement with O'Connor Alternative Investments.](ex99d5.htm) |
| [e(2)](ex99e2.htm) | [Distribution Agreement with Ultimus.](ex99e2.htm) |
| [j(2)](ex99j2.htm) | [Power of Attorney for the Trust.](ex99j2.htm) |

---

## Ex-99.D

**INVESTMENT MANAGEMENT AGREEMENT**

**CANTOR FITZGERALD COMMODITY RETURN STRATEGY TRUST<br> CANTOR FITZGERALD VARIABLE INSURANCE TRUST**

**April 1, 2026**

O'Connor Alternative Investments, LLC

110 East 59<sup>th</sup> Street

New York, NY 10022

Ladies and Gentlemen:

Cantor Fitzgerald Commodity Return Strategy Trust, a Delaware statutory trust, and Cantor Fitzgerald Variable Insurance Trust, a business trust organized and existing under the laws of the Commonwealth of Massachusetts (each, a "<u>Trust</u>" and collectively, the "<u>Trusts</u>"), for and on behalf of their respective series listed on Annex I hereto, which may be amended from time to time (each, a "<u>Fund</u>" and, collectively, the "<u>Funds</u>"), each herewith confirms its agreement with O'Connor Alternative Investments, LLC (the "<u>Manager</u>"), a Delaware limited liability company, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Investment Description; Appointment</u> 

Each Trust, on behalf of its respective Funds, desires to employ the capital of such Funds by investing and reinvesting in investments of the kind and in accordance with the limitations specified in its respective Agreement and Declaration of Trust, as may be amended from time to time, and in the Funds' Prospectus(es) and Statement(s) of Additional Information, as from time to time in effect (the "<u>Prospectus</u>" and "<u>SAI</u>," respectively), and in such manner and to such extent as may from time to time be approved by the Board of Trustees of the Trust (the "<u>Board</u>"). Copies of the Funds' Prospectuses and SAIs have been or will be submitted to the Manager. Each Trust desires to employ and hereby appoints the Manager to act as investment manager to each of the applicable Funds. The Manager accepts the appointment and agrees to furnish the services for the compensation set forth below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Services as Investment Manager</u> 

Subject to the supervision and direction of the Board of each Trust, the Manager will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) act in strict conformity with the applicable Trust's Agreement and Declaration of Trust, the Investment
Company Act of 1940 (the " <u>1940 Act</u> ") and the Investment Advisers Act of 1940, as the same may from time to time be
amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) manage and monitor each Fund's assets in accordance with such Fund's investment objective,
policies and restrictions as stated in the Fund's Prospectuses and SAIs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) make investment decisions for each Fund and oversee risks of such investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) place purchase and sale orders for securities and other investments on behalf of each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) exercise voting rights in respect of portfolio securities and other investments for each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) furnish such statistical information each Fund may reasonably request with respect to the investments
that such Fund may hold or contemplate purchasing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) apprise the Board of important developments materially affecting each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) furnish to third-party data reporting services all currently available standardized performance information
and other customary data;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) provide other information and services required in connection with the preparation and filing with regulatory
authorities of all registration statements and Prospectuses, Prospectus supplements, SAIs, and annual, semi-annual and periodic reports
to shareholders of each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) monitor and evaluate the services provided by each Fund's investment sub-adviser(s), if any, under
the terms of the applicable investment sub-advisory agreement(s), monitor the compliance of such sub-adviser(s) with the investment
objectives, policies and restrictions of such Fund, and report to the Board with respect to the performance of such sub-adviser(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) assist in supervising all aspects of each Fund's operations, except those performed by other parties
pursuant to written agreements with the Fund; provided, that the distribution of Fund shares shall be the sole responsibility of the Funds'
distributor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) assist in and coordinate the preparation of annual post-effective amendments (and supplements thereto)
to each Fund's registration statement on Form N-1A and provide specific information for inclusion therein; prepare and file
with the Securities and Exchange Commission (the "SEC") the Fund's Forms N-PORT, N-PX and N-CSR (other than the included
financial report); provide disclosure control review and chief executive officer and chief financial officer certifications for SEC filings;
assist the Funds' administrator (the "Administrator") with preparation of Forms N-PORT and N-CEN for the Funds and provide
specific information for inclusion therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) furnish corporate secretarial services, including assisting the Board with the preparation of the agendas
and specific materials for meetings of the Trust's Board and committees thereof; distribute Board and committee meeting materials
and prepare minutes of routine meetings of the Board and any committees thereof and of a Fund's shareholders; follow up on matters
raised during Board meetings; and liaise with the Board and providing additional information upon request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) monitor compliance by the Funds with relevant provisions of the federal securities laws; coordinate the
resolution of compliance matters identified with appropriate parties; assist in developing and monitoring compliance procedures for compliance
with each Fund's investment objective, policies and restrictions, tax status, personal trading and proxy voting procedures and certain
other applicable laws and regulations related to trading practices, such as soft dollar and best execution policies; develop or assist
in developing guidelines and procedures to improve overall compliance; and assist in developing and maintaining a disaster recovery program
for the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) supply the Funds with office facilities (which may be the Manager's own offices), internal executive,
legal, regulatory and administrative services, and stationery and office supplies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) oversee the preparation and production of the annual and semiannual reports to Fund shareholders, prepare
the management letters and review and comment on the reports, including notes to the financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) act as liaison between each Fund and the Fund's independent registered public accountants, counsel,
custodian or custodians, transfer agent and Administrator, and take all reasonable action to assure that all necessary and reasonably
requested information is made available to each of them; make reports and recommendations to the Board regarding the performance of service
providers; and actively participate with other relevant parties in the resolution of matters raised affecting the Funds and their operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) act as liaison with the SEC and other regulators in relation to inquiries and inspections relating to
the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) review, approve and arrange for the payment of Fund expenses; review and approve expense budgets and periodic
expense adjustments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) develop and maintain a website for the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) conduct due diligence of financial intermediaries that propose to enter into distribution and/or service
agreements for the sale of Fund shares, negotiate legal arrangements with those intermediaries, provide specific information to financial
intermediaries for transmission to their clients/customer, coordinate administrative efforts to offer Fund shares on various distribution
platforms, reconcile invoices of financial intermediaries with transfer agency records, and arrange for the payment of financial intermediaries
to the extent they are paid out of Fund assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) monitor compliance with the Funds' trading policy, including frequent trading, oversee review of
transaction information provided by financial intermediaries to the Fund or the Funds' transfer agent, determine the appropriateness
of hardship exceptions to any Fund redemption fee requirements, monitor as-of trades, assist in the correction of net asset value or other
errors affecting Fund share prices, and provide periodic reports to the Board regarding these matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) perform certain legal duties for the Funds; retain and manage outside counsel as appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) provide infrastructure and support services to the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) perform valuation services with respect to investments held by the Funds to the extent not provided by
other service providers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) coordinating mailings to Fund shareholders, such as Prospectus supplements, but specifically excluding
dividend payments and transaction confirmations and account statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) review each Fund's tax returns as prepared by the Administrator or other third party; oversee preparation
and coordinate the mailing of Forms 1099 for the Funds; prepare descriptive information to accompany Forms 1099; monitor the accuracy
of data provided on Forms 1099; and with the advice of counsel and the Funds' independent accountants, determine the appropriate
tax treatment for specific investments or investment strategies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) maintain and preserve Fund records consisting of Board and committee meeting materials and minutes, Trust
corporate/trust records, Trust agreements with service providers, Trust policies and procedures and files evidencing compliance with the
Trust's Rule 17j-1 code of ethics;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) respond to Fund shareholder complaints and shareholder inquiries as requested by the Funds' transfer
agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) oversee the provision of shareholder liaison services by the Funds' transfer agent (i.e., the transfer
agent's response to inquiries of Fund shareholders, its provision of information on shareholder investments, its assistance to Fund
shareholders in changing account options and addresses);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) prepare reports and provide information regarding the Funds as reasonably requested by the Board or by
other Fund service providers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) assist in and coordinate the preparation of proxy statements; provide assistance in the solicitation of
Fund shareholders by providing data for inclusion in proxy statements, coordinating proxy solicitors and other vendors, coordinating mailing
of proxies and other solicitation materials, conducting shareholder meetings and developing strategies for solicitation campaigns; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) provide information to the Funds' distributor, as reasonably requested, concerning the Funds, such
as portfolio holdings, expense ratios and performance information, to support their advisory and distribution activities.

In providing those services, the Manager will provide investment research and supervision of each Fund's investments and conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of such Fund's assets.

Subject to the approval of the Board of each Trust and where required, a Fund's shareholders, the Manager may engage an investment sub-adviser or sub-advisers to provide advisory services in respect of such Fund and may delegate to such investment sub-adviser(s) the responsibilities described in paragraphs (b) through (j) above. In the event that an investment sub-adviser's engagement has been terminated, the Manager shall be responsible for furnishing such Fund with the services required to be performed by such investment sub-adviser(s) under the applicable investment sub-advisory agreements or arranging for a successor investment sub-adviser(s) to provide such services on terms and conditions acceptable to such Fund and the Trust's Board and subject to the requirements of the 1940 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Brokerage</u> 

In executing transactions for each Fund, selecting brokers or dealers and negotiating any brokerage commission rates, the Manager will use its best efforts to seek the best overall terms available. In assessing the best overall terms available for any portfolio transaction, the Manager will consider all factors it deems relevant including, but not limited to, breadth of the market in the security, the price of the security, the financial condition and execution capability of the broker or dealer and the reasonableness of any commission for the specific transaction and for transactions executed through the broker or dealer in the aggregate. In selecting brokers or dealers to execute a particular transaction and in evaluating the best overall terms available, the Manager may consider the brokerage and research services (as those terms are defined in Section 28(e) of the Securities Exchange Act of 1934, as the same may from time to time be amended) provided to each Fund and/or other accounts over which the Manager or an affiliate exercises investment discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Information Provided to the Funds</u> 

The Manager will keep each Fund informed of developments materially affecting such Fund, and will, on its own initiative, furnish such Fund from time to time with whatever information the Manager believes is appropriate for this purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Personal Information</u> 

The parties hereto acknowledge and agree that the Manager may receive from the Funds or the Funds' distributor "personal information," in the context of providing services pursuant to the Agreement ("<u>Personal Information</u>"), as such term is defined under applicable data privacy laws or regulations ("<u>Applicable Data Privacy Law</u>"). The Funds acknowledge that, to the extent they have obtained Personal Information, they have obtained all such Personal Information in accordance with Applicable Data Privacy Law, and the transfer of such Personal Data to the Manager, for the intended purposes, is permissible under Applicable Data Privacy Law. The Manager agrees to only use such Personal Information for the purpose of performing the services for the Funds hereunder. The parties agree to negotiate in good faith any separate agreements required to enable the parties to comply with Applicable Data Privacy Law where necessary. Each party agrees that it will not "sell" (as such term is defined under Applicable Data Privacy Law) any Personal Information. The parties shall undertake administrative, technical, physical and organizational measures designed to protect against unauthorized, accidental or unlawful processing, loss, theft, interception, destruction, access, use, disclosure or similar risks to the Personal Information. The parties shall ensure that any Personal Information provided to any subsidiary of the respective parties shall comply with the terms set forth herein and understand that each respective party shall be responsible for any breach by any subsidiary of such respective party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Standard of Care</u> 

The Manager shall exercise its best judgment in rendering the services listed in Sections 2, 3 and 4 above. The Manager shall not be liable for any error of judgment or mistake of law or for any loss suffered by any Fund in connection with the matters to which this agreement ("Agreement") relates, provided that nothing herein shall be

deemed to protect or purport to protect the Manager against any liability to each Fund or to shareholders of such Fund to which the Manager would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or by reason of the Manager's reckless disregard of its obligations and duties under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Compensation</u> 

In consideration of the management services rendered pursuant to Section 2 of this Agreement, each Fund will pay the Manager the annual fee applicable to such Fund calculated at an annual rate set forth on Annex I hereto of such Fund's average daily net assets. The fee shall be calculated and payable monthly.

The fee for the period from the date of this Agreement to the end of the year shall be prorated according to the proportion that such period bears to the full yearly period. Upon any termination of this Agreement before the end of a year, the fee for such part of that year shall be prorated according to the proportion that such period bears to the full yearly period and shall be payable upon the date of termination of this Agreement. For the purpose of determining fees payable to the Manager, the value of each Fund's net assets shall be computed at the times and in the manner specified in such Fund's Prospectus or SAI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Expenses</u> 

The Manager will bear all expenses in connection with the performance of its services under this Agreement, including the fees payable to any investment sub-adviser engaged pursuant to Section 2 of this Agreement; provided, however, that each Fund will reimburse the Manager for the reasonable out-of-pocket expenses incurred by it on behalf of the Fund with respect to services rendered pursuant to paragraphs (l) through (ee) of Section 2 upon presentation of appropriate documentation. Such reimbursable expenses shall include, but not be limited to, postage, telephone, facsimile, photocopying and commercial courier charges. Each Fund will bear its proportionate share of certain other expenses to be incurred in its operation, including: investment advisory and administration fees; taxes, interest, brokerage fees and commissions, if any; fees of Trustees of the applicable Trust who are not officers, directors, or employees of the Manager, any sub-adviser or any of their affiliates; fees of any pricing service employed to value shares of the Fund; SEC fees and state blue sky qualification fees; charges of custodians and transfer and dividend disbursing agents; such Fund's proportionate share of insurance premiums; outside auditing and legal expenses; costs of maintenance of such Fund's existence; except as otherwise provided herein, costs attributable to investor services, including, without limitation, telephone and personnel expenses; costs of preparing and printing Prospectuses and SAIs for regulatory purposes and for distribution to existing shareholders; costs of shareholders' reports and meetings of the shareholders of such Fund and of the officers or Board of the applicable Trust; and any extraordinary expenses.

Each Fund will be responsible for nonrecurring expenses which may arise, including costs of litigation to which such Fund is a party and of indemnifying officers and Trustees of the applicable Trust with respect to such litigation and other expenses as determined by the Trustees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Services to Other Companies or Accounts</u> 

Each Trust understands that the Manager now acts, will continue to act and may act in the future as investment adviser to fiduciary and other managed accounts and as investment adviser or manager to one or more other investment companies or series of investment companies, and such Trust has no objection to the Manager so acting, provided that whenever a Fund and one or more other accounts or investment companies or portfolios advised by the Manager have available funds for investment, investments suitable and appropriate for each will be allocated in accordance with a formula believed to be equitable to each entity. Each Trust recognizes that in some cases this procedure may adversely affect the size of the position obtainable for a Fund. In addition, each Trust understands that the persons employed by the Manager to assist in the performance of the Manager's duties hereunder will not devote their full time to such service and nothing contained herein shall be deemed to limit or restrict the right of the Manager or any affiliate of the Manager to engage in and devote time and attention to other businesses or to render services of whatever kind or nature, provided that doing so does not adversely affect the ability of the Manager to perform its services under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Term of Agreement</u> 

With respect to each Fund, this Agreement shall continue for an initial period of two years commencing on the date first written above, and thereafter shall continue automatically for successive annual periods, provided such continuance is specifically approved at least annually by (a) the Board of the applicable Trust or (b) a vote of a "majority" (as defined in the 1940 Act) of the Fund's outstanding voting securities, provided that in either event the continuance is also approved by a majority of the Board of the applicable Trust, who are not "interested persons" (as defined in the 1940 Act) of any party to this Agreement, by vote cast in person at a meeting called for the purpose of voting on such approval. This Agreement is terminable with respect to a Fund, without penalty, on 60 days' written notice, by the Board of the applicable Trust or by vote of holders of a majority of the applicable Fund's shares, or upon 90 days' written notice, by the Manager. This Agreement will also terminate automatically in the event of its assignment (as defined in the 1940 Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Representation by the Trusts</u> 

Each Trust represents that copies of its Agreement and Declaration of Trust, together with all amendments thereto, are on file in such state where the applicable Trust is registered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Use of Names</u> 

Each Trust recognizes that directors, officers and employees of the Manager may from time to time serve as directors, trustees, officers and employees of corporations and business trusts (including other investment companies) and that such other corporations and trusts may include the name "Cantor", "Cantor Fitzgerald", or "CF" as part of their names, and that the Manager or its affiliates may enter into advisory or other agreements with such other corporations and trusts. If the Manager ceases to act as the investment adviser of a Fund, such Fund agrees that, at the Manager's request, such Fund's license to use the words "Cantor", "Cantor Fitzgerald", or "CF" will terminate and that such Fund will take all necessary action to change the name of such Fund to names not including the words "Cantor", "Cantor Fitzgerald", or "CF".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Miscellaneous</u> 

Notice is hereby given that this Agreement is entered into on behalf of a Fund by an officer of such Fund in his capacity as an officer and not individually. It is understood and expressly stipulated that none of the Trustees or shareholders of any Fund shall be personally liable hereunder. Neither the Trustees, officers, agents nor shareholders of any Fund assume any personal liability for obligations entered into on behalf of a Fund. All persons dealing with a Fund must look solely to the property of such Fund for the enforcement of any claims against such Fund.

Please confirm that the foregoing is in accordance with your understanding by indicating your acceptance hereof at the place below indicated, whereupon it shall become a binding agreement between us.

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CANTOR FITZGERALD COMMODITY RETURN STRATEGY TRUST<br><u>/s/ William Ferri</u><br> Name: William Ferri<br> Title: Trustee, President, and Principal Executive<br> Officer<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CANTOR FITZGERALD VARIABLE INSURANCE TRUST<br><u>/s/ William Ferri</u><br> Name: William Ferri<br> Title: Trustee, President, and Principal Executive<br> Officer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> O'CONNOR ALTERNATIVE INVESTMENTS, LLC<br><u>/s/ William Ferri</u><br> Name: William Ferri<br> Title: Chief Executive Officer <br>|

---

ANNEX I<br> TO INVESTMENT MANAGEMENT AGREEMENT

---

| | |
|:---|:---|
| **Fund** | **Annual Fee Rate<br> (as a percentage of average daily net<br> assets of such Fund)** |
| **<u>Cantor Fitzgerald Commodity Return Strategy Trust</u>** |  |
| Cantor Fitzgerald Commodity Return Strategy Fund | 0.59%<br>|
| **<u>Cantor Fitzgerald Variable Insurance Trust</u>** |  |
| Cantor Fitzgerald Commodity Return Strategy Portfolio | 0.59% |

---

## Ex-99.D

**Expense Limitation Agreement**

March 13, 2026

Cantor Fitzgerald Variable Insurance Trust

110 E. 59th Street

New York, NY 10022

Dear Board Members:

You have engaged us to act as the investment adviser to the funds listed on Appendix A (the "Funds" and each a "Fund'), each a series of the Cantor Fitzgerald Variable Insurance Trust (the "Trust"), pursuant to a Management Agreement dated as of March 13, 2026 ("Management Agreement").

Commencing with the beginning of the term of the Management Agreement through at least April 30, 2027, subject to the consideration and approval of the Management Agreement by the Trust's Board of Trustees (the "Board"), we agree to waive management fees and/or reimburse each Fund for expenses the Fund incurs, but only to the extent necessary to maintain each Fund's total annual operating expenses after fee waivers and/or reimbursement (exclusive of (i) brokerage fees and commissions; (ii) acquired fund fees and expenses; (iii) fees and expenses associated with investments in other collective investment vehicles or derivative instruments (including, for example, option and swap fees and expenses); (iv) borrowing costs (such as interest and dividend expense on securities sold short); (v) taxes and (vi) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees and contractual indemnification of Fund service providers (other than the adviser or the sub-adviser) but inclusive of organizational costs and offering costs) at the levels set forth in <u>Appendix A</u> attached hereto.

Additionally, the Expense Limitation Agreement shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by O'Connor Alternative Investments, LLC (the "Adviser"). Furthermore, the Expense Limitation Agreement may not be terminated by the Adviser, but may be terminated by the Board, on written notice to the Adviser. The Expense Limitation Agreement will automatically terminate with respect to a Fund if the Management Agreement for that Fund is terminated with such termination effective upon the effective date of the Management Agreement's termination for that Fund (except that the Adviser shall maintain its right to repayment if the termination of Management Agreement is caused by a change in control of the Adviser or Cantor Fitzgerald, L.P.). This Expense Limitation Agreement and all rights and obligations hereunder may not be assigned without the written consent of the other party.

Any waiver or reimbursement by us is subject to repayment by each Fund provided the Adviser continues to serve as investment adviser to the Fund and subject to the limitations that: (1) the reimbursement for fees and expenses will be made only if payable not more than three years from the date in which they were incurred; and (2) the reimbursement may not be made if it would cause the lesser of the Expense Limitation in place at the time of waiver or at the time of reimbursement to be exceeded.

Yours Very Truly,

**O'CONNOR ALTERNATIVE INVESTMENTS, LLC** 

---

| |
|:---|
| By: /s/ William Ferri |
| Name: William Ferri |
| Title: Chief Executive Officer |
| Date: March 13, 2026 |

---

**ACCEPTANCE:**

The foregoing Agreement is hereby accepted.

**CANTOR FITZGERALD VARIABLE INSURANCE TRUST**

---

| |
|:---|
| By: /s/William Ferri |
| Name: William Ferri |
| Title: Trustee, President, and Principal Executive Officer |
| Date: March 13, 2026 |

---

**<u>Appendix A</u>**

---

| | |
|:---|:---|
| **<u>Fund</u>** | **<u>Expense Cap</u>** |
| Cantor Fitzgerald Commodity Return Strategy Portfolio | 1.05% Class 1<br> 0.80% Class 2<br>|

---

## Ex-99.E

**DISTRIBUTION AGREEMENT**

This Distribution Agreement (this "**Agreement**"), dated April 1, 2026, is made by and among **Cantor Fitzgerald Variable Insurance Trust**, a Massachusetts business trust (the "**Trust**"), **O'Connor Alternative Investments, LLC**, a Delaware limited liability company (the "**Advisor**"), and **Ultimus Fund Distributors, LLC**, a limited liability company organized under the laws of the state of Ohio ("**Distributor**").

<u>**Background**</u>

The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "**1940 Act**"), and it desires that Distributor act as the Trust's principal underwriter and distribute shares of beneficial interest (the "**Shares**") of each of its series listed on Schedule A (individually referred to herein as a "**Fund**" and collectively as the "**Funds**"). Distributor is willing to perform such services on the terms and conditions set forth in this Agreement.

<u>**Terms and Conditions**</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Applicable Law

For the duties and responsibilities under this Agreement, each party is currently abiding, and will continue to abide, by all applicable federal and state laws, including, without limitation, federal and state securities laws; regulations, rules, and interpretations of the U.S. Securities and Exchange Commission ("**SEC**") and its authorized regulatory agencies and organizations, including the Financial Industry Regulatory Authority, Inc. ("**FINRA**"); and all other self-regulatory organizations governing the transactions contemplated under this Agreement (collectively, "**Applicable Law**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Appointment of Distributor

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.1.*** The Trust retains Distributor to act as the exclusive agent for the distribution
of the Shares on behalf of each Fund in the United States and to perform the distribution services as set forth below (collectively, the
" **Services**") in connection therewith. Distributor accepts such employment to perform the Services. While this Agreement
is in force, the Trust shall not sell any Shares except on the terms set forth in this Agreement. Notwithstanding any other provision
hereof, the Trust may terminate, suspend, or withdraw the offering of Shares whenever, in its sole discretion, it deems such action to
be desirable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.2.*** Distributor does not agree to sell any specific number of Shares. Distributor,
as agent for the Trust, undertakes to sell Shares on a reasonable efforts basis only against orders therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.3.*** The Trust reserves the right to issue any Shares at any time directly to existing
holders of Shares ()"**Shareholders**") or to other persons at not less than the public offering price (as defined below)
and to issue Shares in exchange for substantially all the assets of any corporation or trust or for the shares of any corporation or trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Distribution Services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.1.*** Distributor will have the right, as agent for the Trust, to enter into dealer agreements
with responsible investment dealers, and to sell Shares to such investment dealers against orders therefor at the public offering price
(as defined below) stated in the Trust's effective Registration Statement on Form N-1A under the 1940 Act and the Securities Act
of 1933, each as amended (the "**Securities Act** "), including the then-current prospectus and statement of additional
information (the "**Registration Statement** "). Upon receipt of an order to purchase Shares from a dealer with whom Distributor
has a dealer agreement, Distributor will promptly cause such order to be filled by the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.2.*** Distributor will also have the right, as agent for the Trust, to sell such Shares
to the public against orders therefor at the public offering price (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.3.*** Distributor will also have the right to take, as agent for the Trust, all actions
which, in Distributor's reasonable judgment, are necessary to carry into effect the distribution of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.4.*** The "**public offering price**" for the Shares of each Fund shall
be the respective net asset value ()"**NAV**") of the Shares of that Fund then in effect, plus any applicable sales charge
determined in the manner set forth in the Registration Statement or as permitted by the 1940 Act and the rules and regulations promulgated
by the SEC or other applicable regulatory agency or self-regulatory organization under the oversight of the SEC. In no event shall any
applicable sales charge exceed the maximum sales charge permitted by the Rules of FINRA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.5.*** The NAV of the Shares of each Fund shall be determined in the manner provided in
the Registration Statement, and when determined shall be applicable to transactions as provided for in the Registration Statement. The
NAV of the Shares of each Fund shall be calculated by the Trust or by another entity on behalf of the Trust. Distributor shall have no
duty to inquire into or liability for the accuracy of the NAV per Share as calculated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.6.*** On every sale, the Trust shall receive the applicable NAV of the Shares promptly,
but in no event later than the third business day following the date on which Distributor shall have received an order for the purchase
of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.7.*** Upon receipt of purchase instructions, Distributor will transmit such instructions
to the Trust or its transfer agent for the issuance and registration of the Shares purchased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.8.*** Distributor, as agent of and for the account of the Trust, may repurchase the Shares
at such prices and upon such terms and conditions as shall be specified in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.9.*** Distributor shall maintain membership with the National Securities Clearing Corporation
(" **NSCC**") and any other similar successor organization to sponsor a participant number for the Funds so as to enable
the Shares to be traded through FundSERV. The Distributor shall not be responsible for any operational matters associated with FundSERV
or networking transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.10.*** Distributor will review all proposed advertising materials and sales literature
for compliance with Applicable Law and shall file such materials with appropriate regulators as required by current laws and regulations.
Distributor agrees to furnish the Trust with any comments provided by regulators with respect to such materials. For an additional fee,
the Trust or its investment adviser (the "Adviser") (as applicable) may request an expedited review of advertising materials,
in which case Distributor will use commercially reasonable efforts to have any comments returned the next business day following the date
of submission. Submissions received by Distributor after 12:00 p.m. (noon) Eastern Time on a business day will be deemed received on the
next business day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.11.*** Distributor shall prepare or cause to be prepared reports for the Board of Trustees
(the "**Board**") of the Trust regarding its activities under this Agreement as reasonably requested by the Trust's
Board, including reports regarding the use of assets accrued pursuant to a Rule 12b-1 plan adopted by the Trust, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Allocation of Charges and Expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.1.*** Distributor shall furnish at its own expense the executive, supervisory, and clerical
personnel necessary to perform its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.2.*** In the performance of its obligations under this Agreement, Distributor will pay
only the costs incurred in qualifying as a broker or dealer under state and federal laws and in establishing and maintaining its relationships
with the dealers selling the Shares. All other costs in connection with the offering of the Shares will be paid by the Trust, a Fund,
or the Advisor in accordance with agreements between them as permitted by Applicable Law. These costs include, but are not limited to,
distribution fees, shareholder servicing fees, set-up costs, or other fees or compensation paid to the dealers or others selling or servicing
the Shares, licensing fees, filing fees (including to FINRA), travel expenses, and such other expenses as may be incurred by Distributor
on behalf of the Trust or a Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Compensation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.1.*** The Trust, a Fund, or the Advisor shall pay for the Services to be provided by
Distributor under this Agreement in accordance with, and in the manner set forth in, the fee letter attached to this Agreement ()"**Fee Letter** "), which may be amended from time to time. The Fee Letter is incorporated by reference into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.2.*** If this Agreement becomes effective subsequent to the first day of a month or
terminates before the last day of a month, Distributor's compensation for that part of the month in which the Agreement is in effect
shall be prorated in a manner consistent with the calculation of the fees as set forth in the Fee Letter. The Trust, a Fund, or the Advisor
shall promptly pay Distributor's compensation for the preceding month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.3.*** In the event that the SEC, FINRA, or any other regulator or self-regulatory authority adopts

regulations and requirements relating to the payment of fees to underwriters or which would result in any material increases in costs to provide the Services under this Agreement, the parties agree to negotiate in good faith amendments to this Agreement in order to comply with such requirements and provide for additional compensation for Distributor as mutually agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.4.*** In the event that any fees are disputed, the Trust, a Fund, or the Advisor shall,
on or before the due date, pay all undisputed amounts due hereunder and notify Distributor in writing of any disputed fees which it is
disputing in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Maintenance of Books and Records; Record Retention

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***6.1.*** Distributor shall maintain and keep current the accounts, books, records and other
documents relating to the Services as may be required by Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. Ownership of Records

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Distributor agrees that all such books, records, and other data (except computer
programs and procedures) developed to perform the Services (collectively, "**Client Records**") shall be the property of
the Trust or a Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Distributor agrees to provide the Client Records of the Trust or a Fund upon reasonable
request, and to make such books and records available for inspection by the Trust, a Fund, or its regulators at reasonable times.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* Distributor agrees to furnish to the Trust or a Fund, at the expense of the Trust
or Fund, all Client Records in the electronic or other medium in which such material is then maintained by Distributor as soon as practicable
after any termination of this Agreement. Unless otherwise required by Applicable Law, Distributor shall promptly turn over to the Trust
or Fund, or, upon the written request of the Trust or Fund, destroy the Client Records maintained by Distributor pursuant to this Agreement.
If Distributor is required by Applicable Law to maintain any Client Records, it will provide the Trust or Fund with copies as soon as
reasonably practical after the termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***6.3.*** Distributor agrees to keep confidential all Client Records, except when requested
to divulge such information by duly constituted authorities or court process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***6.4.*** If Distributor is requested or required to divulge such information by duly constituted
authorities or court process, Distributor shall, unless prohibited by law, promptly notify the Trust or Fund of such request(s) so that
the Trust or Fund may seek an appropriate protective order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Effective Date

This Agreement shall become effective as of the date first written above with respect to each Fund in existence on such date (or, if a particular Fund is not in existence on that date, on the date such Fund commences operation) (the "**Agreement Effective Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Subcontracting

Distributor may, at its expense, subcontract with any entity or person concerning the provision of the Services; provided, however, that Distributor shall use due care in selecting such subcontractor and shall not be relieved of any of its obligations under this Agreement by the appointment of such subcontractor, that Distributor shall be responsible, to the extent provided in Section 11, for all acts of a subcontractor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Term; Amendments; Successor Investment Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9.1.***  ***Initial Term.*** This Agreement shall continue in effect, unless earlier
terminated by either party as provided under this Section 9, for a period of two (2) years from the date first written above (the "**Initial Term** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9.2.***  ***Renewal Terms.*** Immediately following the Initial Term, this Agreement
shall renew for successive one (1) year periods (a "**Renewal Term**") subject to annual approval of such continuance by
the Board of the Trust, including the approval of a majority of the Trustees of the Trust who are not interested persons of the Trust
or of Distributor by vote cast in person at a meeting called for the purpose of voting on such approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9.3.***  ***Termination.*** A party may terminate this Agreement under the following circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* *Assignment.* This Agreement shall automatically terminate, without the payment
of any penalty, in the event of its assignment, as that term is defined in the 1940 Act, by Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* *Termination.* Either the Trust or Distributor may at any time terminate this
Agreement with respect to any Fund on sixty (60) days' written notice delivered or mailed by registered mail, postage prepaid, to
the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* *Final Payment **.*** Any unpaid, undisputed compensation or reimbursement
of expenses is due to Distributor within 15 calendar days of the termination date provided in the notice of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* *Transition.* Upon termination of this Agreement, Distributor will cooperate
with any reasonable request of the Trust to effect a prompt transition to a new underwriter selected by the Trust. Distributor shall be
entitled to collect from the Trust, a Fund and/or the Advisor, in addition to the compensation described in the applicable Fee Letter,
the amount of all of Distributor's cash disbursements reasonably made for services in connection with Distributor's activities
in effecting such termination, including, without limitation, the delivery to the Trust or its designees the Trust's property, records,
instruments, and documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9.4.***  ***Amendments.*** This Agreement may be amended only if such amendment
is approved (i) by Distributor and (ii) by the Board of the Trust, including the approval of a majority of the Trustees of the Trust who
are not interested persons of the Trust or of Distributor by vote cast in person

at a meeting called for the purpose of voting on such approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Additional Funds or Classes of Shares

In the event that the Trust establishes one or more series or classes of shares after the Agreement Effective Date, each such series or class of shares shall become a Fund or class of shares of a Fund (if applicable), under this Agreement and shall be added to Schedule A, subject to approval by the Board of the Trust, including the approval of a majority of the Trustees of the Trust who are not interested persons, by vote cast in person at a meeting called for the purpose of voting on such approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Standard of Care; Limits of Liability; Indemnification

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***11.1.***  ***Standard of Care.*** Each party's duties are limited to those expressly
set forth in this Agreement and the parties do not assume any implied duties. Each party shall use its best efforts in the performance
of its duties and act in good faith in performing the Services or its obligations under this Agreement. Each party shall be liable for
any damages, losses or costs arising directly or indirectly out of such party's failure to perform its duties under this Agreement
to the extent such damages, losses or costs arise directly or indirectly out of its willful misfeasance, bad faith, gross negligence in
the performance of its duties, or reckless disregard of its obligations and duties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2. Limits of Liability

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Distributor shall not be liable for any Losses (as defined below) arising from
the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) performing Services or duties pursuant to any instruction, notice, or other instrument
that Distributor reasonably believes to be genuine and to have been signed or presented by a duly authorized representative of the Trust
or any Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) operating under its own initiative, in good faith and in accordance with the standard
of care set forth herein, in performing its duties or the Services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) any default, damages, costs, loss of data or documents, errors, delay, or other
loss whatsoever caused by events beyond Distributor's reasonable control; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) any error, action or omission by the Trust or other past underwriter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Distributor may apply to the Trust at any time for instructions and may consult
with counsel for the Trust or a Fund, counsel for the Trust's independent Trustees, and with accountants and other experts with
respect to any matter arising in connection with Distributor's duties or the Services. Distributor shall not be liable or accountable
for any action taken or omitted by it in good faith in accordance with such instruction or with the reasonable opinion of such counsel,
accountants, or other experts qualified to render such opinion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* A copy of the Trust's Declaration of Trust is on file with the Secretary
of the Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trust and not the Trustees
individually and that the obligations of this instrument are not binding upon any of the Trustees, officers, or Shareholders individually,
and that such obligations are binding only upon the assets and property of the Trust (or if the matter relates only to a particular Fund,
then that particular Fund), and Distributor shall look only to the assets of the Trust (or the particular Fund), for the satisfaction
of such obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* Distributor shall not be held to have notice of any change of authority of any
officer, agent, representative, or employee of the Trust, the Advisor, or any of the Trust's other service providers, until receipt
of written notice from the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* The Board has and retains primary responsibility for oversight of all compliance
matters relating to the Funds, including, but not limited to, compliance with the 1940 Act and the USA PATRIOT Act of 2001. Distributor's
monitoring and other functions hereunder shall not relieve the Board of its primary day-to-day responsibility for overseeing such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*F.* To the maximum extent permitted by law, the Trust agrees to limit Distributor's
liability for the Trust's Losses (as defined below) to an amount that shall not exceed the total compensation received by Distributor
under this Agreement during the most recent rolling 18-month period or, if the Agreement is in effect for less than 18 months at the time
of liability, then the most recent one-month period multiplied by 18. This limitation shall apply regardless of the cause of action or
legal theory asserted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*G.* In no event shall Distributor be liable for trading losses, lost revenues, special,
incidental, punitive, indirect, consequential or exemplary damages or lost profits, whether or not such damages were foreseeable or Distributor
was advised of the possibility thereof. The parties acknowledge that the other parts of this Agreement are premised upon the limitation
stated in this section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3. Indemnification

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Each party (the "**Indemnifying Party**") agrees to indemnify,
defend, and protect the other party, including its trustees or directors, officers, employees, and other agents (collectively, the "**Indemnitees** "),
and shall hold the Indemnitees harmless from and against any actions, suits, claims, losses, damages, liabilities, and reasonable costs,
charges, expenses (including attorney fees and investigation expenses) (collectively, "**Losses**") arising directly or
indirectly out of (1) the Indemnifying Party's failure to exercise the standard of care set forth above unless such Losses were
caused in part by the Indemnitees own willful misfeasance, bad faith or gross negligence; (2) any violation of Applicable Law by the Indemnifying
Party or its affiliated persons or agents relating to this Agreement and the activities hereunder; and (3) any material breach by the
Indemnifying Party or its affiliated persons or agents of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Notwithstanding the foregoing provisions, the Trust, any applicable Fund, and
the Advisor shall indemnify Distributor for Distributor's Losses arising from circumstances under Section 11.2.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* Upon the assertion of a claim for which any party may be required to indemnify
another party, the party seeking indemnification shall promptly notify the other party(ies) of such assertion, and shall keep the other
party(ies) advised with respect to all developments concerning such claim. The party who may be required to indemnify shall have the option
to participate with the party seeking indemnification in the defense of such claim or to defend against said claim in its own name or
in the name of the other party. The party seeking indemnification shall in no case confess any claim or make any compromise in any case
in which the other party may be required to indemnify it except with the indemnifying party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4. Dealer Agreement Indemnification

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Distributor acknowledges and agrees that certain dealers require that Distributor
enter into dealer agreements (the "**Non-Standard Dealer Agreements**") that contain certain representations, undertakings,
and indemnification that are not included in the Distributor's standard dealer agreement (the "**Standard Dealer Agreement** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* To the extent that Distributor is required by the Trust to enter into any Non-
Standard Dealer Agreement, the Trust shall indemnify, defend and hold the Distributor Indemnitees free and harmless from and against any
and all Losses that any Distributor Indemnitee may incur arising out of or relating to (a) the Distributor's actions or failures
to act pursuant to any Non-Standard Dealer Agreement; (b) any representations made by the Distributor in any Non-Standard Dealer Agreement
to the extent that the Distributor is not required to make such representations in the Standard Dealer Agreement; or (c) any indemnification
provided by the Distributor under a Non-Standard Dealer Agreement to the extent that such indemnification is beyond the indemnification
the Distributor provides to intermediaries in the Standard Dealer Agreement. In no event shall anything contained herein be so construed
as to protect the Distributor Indemnitees against any liability to the Trust or its shareholders to which the Distributor Indemnitees
would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of Distributor's
obligations or duties under the Non-Standard Dealer Agreement or by reason of Distributor's reckless disregard of its obligations
or duties under the Non-Standard Dealer Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***11.5.*** The provisions of this Section 11 shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Force Majeure

No party will be liable for Losses, loss of data, delay of Services, or any other issues caused by events beyond its reasonable control, including, without limitation, delays by third party vendors and/or communications carriers, acts of civil or military authority, national emergencies, labor difficulties, fire, flood, catastrophe, acts of God, insurrection, war, riots, or (unless such failures are within such party's reasonable control) failure of the mails, transportation, communication, or power supply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Representations and Warranties

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.1.***  ***Joint Representations.*** Each party represents and warrants, which representations
and warranties shall be deemed to be continuing throughout the term of this Agreement, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* It is duly organized and validly existing in good standing under the laws of the
jurisdiction in which it is organized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* To the extent required by Applicable Law, it is duly registered with all appropriate
regulatory agencies or self-regulatory organizations and such registration will remain in full force and effect for the duration of this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* It has duly authorized the execution and delivery of this Agreement and the performance
of the transactions, duties, and responsibilities contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* This Agreement constitutes a legal obligation of the party, subject to bankruptcy,
insolvency, reorganization, moratorium, and other laws of general application affecting the rights and remedies of creditors and secured
parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* Whenever, in the course of performing its duties under this Agreement, it determines
that a violation of Applicable Law has occurred, or that, to its knowledge, a possible violation of Applicable Law may have occurred,
or with the passage of time could occur, it shall promptly notify the other parties of such violation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.2.***  ***Representations of the Trust.*** The Trust represents and warrants, which
representations and warranties shall be deemed to be continuing throughout the term of this Agreement, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* (1) as of the close of business on the Agreement Effective Date, each Fund that
is then in existence has authorized unlimited shares, (2) no Shares of the Trust will be offered to the public until the Trust's
Registration Statement under the Securities Act and the 1940 Act has been declared or becomes effective, and (3) the Shares are validly
authorized and, when issued in accordance with the description in the Registration Statement, will be fully paid and nonassessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* It shall cause the Advisor, prime broker, custodian, legal counsel, independent
accountants, and other service providers and agents, past or present, for each Fund to cooperate with Distributor and to provide it with
such information, documents, and

advice relating to the Fund as appropriate or requested by Distributor, in order to enable Distributor to perform its duties and obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* To the knowledge of the Trust and the Fund, the Trust's Agreement and Declaration
of Trust (the "**Declaration of Trust** "), Bylaws, Registration Statement and any advertising materials and sales literature
prepared by the Trust or its agent are true and accurate and will remain true and accurate at all times during the term of this Agreement
in conformance with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* Any officer of the Trust shall be considered an individual who is authorized to
provide Distributor with instructions and requests on behalf of the Trust (an "**Authorized Person**") (unless such authority
is limited in a writing from the Trust and received by Distributor) and has the authority to appoint additional Authorized Persons, to
limit or revoke the authority of any previously designated Authorized Person, and to certify to Distributor the names of the Authorized
Persons from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* The Trust owns, possesses, licenses or has other rights to use all patents, patent
applications, trademarks and service marks, trademark and service mark registrations, trade names, copyrights, licenses, inventions, trade
secrets, technology, know-how and other intellectual property (collectively, "**Intellectual Property**") necessary for
or used in the conduct of the Trust's business and for the offer, issuance, distributions and sale of the Shares in accordance with
the terms of the Registration Statement and this Agreement, and such Intellectual Property does not and will not breach or infringe the
terms of any Intellectual Property owned, held or licensed by any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*F.* The Trust shall not file any amendment to the Registration Statement that amends
any provision therein pertaining to Distributor, the distribution of the Shares or the applicable sales loads or public offering price
without giving Distributor reasonable advance notice thereof; provided, however, that nothing contained in this Agreement shall in any
way limit the Trust's right to file at any time such amendments to the Registration Statement, of whatever character, as the Trust
may deem advisable, such right being in all respects absolute and unconditional.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.3.***  ***Representation of the Distributor.*** The Distributor represents and
warrants, which representations and warranties shall be deemed to be continuing throughout the term of this Agreement, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. the various procedures and systems Distributor has implemented with regard to safeguarding
from loss or damage attributable to fire, theft, or any other cause the records and other data of the Trust and Distributor's records,
data, equipment facilities, and other property used in the performance of its obligations hereunder, are adequate and that Distributor
will make such changes therein as are required for the secure performance of its obligations hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. It owns or otherwise has the valid right, by contract or otherwise, to deliver to
the Trust the services and any related software and documentation, and the Trust may use

the Services and any related software and documentation as permitted herein, without violating any proprietary rights of any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Insurance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14.1.***  ***Maintenance of Insurance Coverage.*** Each party agrees to maintain
throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry.
Upon request, a party shall furnish the other parties with pertinent information concerning the professional liability insurance coverage
that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14.2.***  ***Notice of Claims.*** As it relates to the Services provided under this
Agreement, each party shall notify the other parties of any material claims against the notifying party under such insurance, whether
or not the party is covered by insurance, and, if requested by the non-notifying party, the notifying party shall aggregate and disclose
all outstanding claims against the notifying party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14.3.***  ***Notice of Termination.*** A party shall promptly notify the other parties
should any of the notifying party's insurance coverage be canceled or reduced. Such notification shall include the date of change
and the reasons therefore.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Information Provided By The Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15.1.***  ***Prior to the Agreement Effective Date.*** Prior to the Agreement Effective
Date, the Trust will furnish to Distributor the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* copies of the Declaration of Trust and any amendments thereto, certified by the
proper official of the state in which such document has been filed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* a copy of the Trust's Bylaws and any amendments thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* certified copies of resolutions of the Board covering the approval of this Agreement,
authorization of a specified officer of the Trust to execute and deliver this Agreement and authorization for specified officers of the
Trust to instruct Distributor thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* a list of all the officers of the Trust, together with specimen signatures of those
officers who are authorized to instruct Distributor in all matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* the Funds' most recent audited financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*F.* the Trust's Registration Statement on Form N-1A and all amendments thereto
filed with the SEC pursuant to the Securities Act and the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*G.* copies of the current plan of distribution adopted by the Trust under Rule 12b-1
under the 1940 Act for each Fund, if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*H.* contact information for each Fund's service providers, including but not
limited to, the Fund's administrator, custodian, transfer agent, independent accountants, legal counsel and chief compliance officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*I.* a copy of procedures adopted by the Trust in accordance with Rule 38a-1 under
the 1940 Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*J.* any material correspondence or other communication by the SEC, FINRA, any government
or self-regulatory organization or its staff relating to the Funds, including any related to examinations of the Trust or the Funds, requests
by the SEC for amendments to the Registration Statement or any advertising or sales literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15.2.***  ***After the Agreement Effective Date.*** After the Agreement Effective
Date, the Trust will furnish to Distributor any amendments to the items listed in Section 15.1 and promptly provide notice of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* any material correspondence or other communication by the SEC, FINRA, any government
or self-regulatory organization or its staff relating to the Funds, including any related to examinations of the Trust and any requests
by the SEC for amendments to the Registration Statement or any advertising or sales literature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* the happening of any event which makes untrue any statement of material fact made
in the Registration Statement or which requires the making of a change in such Registration Statement in order to make the statements
therein not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* if the Trust determines to suspend the sale of Shares at any time in response
to conditions in the securities markets or otherwise or to suspend the redemption of Shares of any Fund at any time as permitted by Applicable
Law, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* the commencement of any litigation or proceedings against the Trust or any of
its officers or directors in connections with the issue and sales of any of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15.3.***  ***Filings.*** The Trust shall provide Distributor with draft Registration
Statements prior to the filing of each such annual filing. In addition, the Trust shall forward copies of any SEC filings, including Registration
Statements, to Distributor within one business day of such filings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15.4.***  ***Advertising.*** The Trust represents that it will not use or authorize
the use of any advertising or sales material unless and until such materials have been approved and authorized for use by the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Compliance with Law and Rules of FINRA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.1.*** The Trust assumes full responsibility for the preparation and contents of each
prospectus of a Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.2.*** Distributor will require each dealer with whom Distributor has a dealer agreement
to conform to the applicable provisions hereof and the Registration Statement with respect to the public offering price of the Shares,
and neither Distributor nor any such dealer shall withhold the placing of purchase orders so as to make a profit thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.3.*** Distributor agrees to furnish to the Trust sufficient copies of any agreements,
plans or other materials it intends to use in connection with any sales of Shares in reasonably adequate time for the Trust to file and
clear them with the proper authorities before they are put in use, and not to use them until so filed and cleared. At the request of the
Fund, Distributor will assume responsibility for the review and clearance of all advertisements and sales literature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.4.*** Distributor, at its own expense, will qualify as dealer or broker, or otherwise,
under all Applicable Law required in order that the Shares may be sold in such states as may be mutually agreed upon by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.5.*** Distributor shall not make or permit any representative, broker, or dealer to make,
in connection with any sale or solicitation of a sale of the Shares, any representations concerning the Shares except those contained
in the then current Registration Statement covering the Shares and in printed information approved by the Trust as information supplemental
to such Registration Statement. Copies of the then effective Registration Statement and any such printed supplemental information will
be supplied by the Trust to Distributor in reasonable quantities upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Privacy and Confidentiality

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17.1.***  ***Definition of Confidential Information.*** The term "**Confidential Information**" shall mean all information that any party discloses (a "**Disclosing Party**") to another party
(a "**Receiving Party** "), whether in writing, electronically, or orally and in any form (tangible or intangible), that
is confidential, proprietary, or relates to clients or Shareholders (each either existing or potential). Confidential Information includes,
but is not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* any information concerning technology, such as systems, source code, databases,
hardware, software, programs, applications, engaging protocols, routines, models, displays, and manuals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* any unpublished information concerning research activities and plans, customers,
clients, Shareholders, strategies and plans, costs, operational techniques;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* any unpublished financial information, including information concerning revenues,
profits and profit margins, and costs or expenses; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* Customer Information (as defined below).

Confidential Information is deemed confidential and proprietary to the Disclosing Party regardless of whether such information was disclosed intentionally or unintentionally, or marked appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17.2.***  ***Definition of Customer Information.*** Any Customer Information will
remain the sole and exclusive property of the Trust. "**Customer Information**" shall mean all non-public, personally identifiable
information as defined by Gramm-Leach-Bliley Act of 1999, as amended, and its implementing regulations (*e.g.*, SEC Regulation S-P
and Federal Reserve Board Regulation P) (collectively, the "**GLB Act** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.3. Treatment of Confidential Information

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Each party agrees that at all times during and after the term of this Agreement,
it shall use, handle, collect, maintain, and safeguard Confidential Information in accordance with (1) the confidentiality and non-disclosure
requirements of this Agreement; (2) the GLB Act, as applicable and as it may be amended; and (3) such other Applicable Law, whether in
effect now or in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Each party agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Receiving Party will hold all Confidential Information it obtains in strictest
confidence and will use and permit use of Confidential Information solely for the purposes of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Without limiting the foregoing, the Receiving Party shall apply at least the same
degree of reasonable care used for its own confidential and proprietary information to avoid disclosure or use of Confidential Information
under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The Receiving Party may disclose or provide access only to its responsible employees
or agents who have a need to know and are under adequate confidentiality agreements or arrangements, and the Receiving Party or its employees
may make copies of Confidential Information only to the extent reasonably necessary to carry out the obligations under this Agreement;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The Receiving Party will immediately notify the Disclosing Party of any unauthorized
disclosure or use and will cooperate with the Disclosing Party to protect all proprietary rights in any Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***17.4.***  ***Severability.*** This provision and the obligations under this Section
17 shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Press Release

Within the first 60 days of the Agreement Effective Date, the Trust agrees to review in good faith a press release (in any format or medium) announcing the Agreement with Distributor; provided that Distributor must obtain the Trust's prior written consent prior to publication of such release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Non-Exclusivity

The services of Distributor rendered to the Trust are not deemed to be exclusive. Except to the extent necessary to perform Distributor's obligations under this Agreement, nothing herein shall be deemed to limit Distributor's right, or the right of any of Distributor's managers, officers, or employees (who also may be a trustee, officer or employee of the Trust), or persons who are otherwise affiliated persons of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business, whether of a similar or dissimilar nature, or to render services of any kind to any other person. Nothing in this Agreement shall prevent Distributor or any affiliated person (as defined in the 1940 Act) of Distributor from acting as distributor for any other person, firm or corporation (including other investment companies) or in any way limit or restrict Distributor or any such affiliated person from buying, selling or trading any securities for its or their own account or for the accounts of others from whom it or they may be acting; provided, however, that Distributor expressly represents that it will undertake no activities which, in its reasonable judgment, will adversely affect the performance of its obligations to the Trust under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Arbitration

In the event of a dispute between or among the parties relating to or arising out of this Agreement or the relationship of the parties, the parties will submit the matter to arbitration in New York, New York, in accordance with the rules and regulations of the Code of Arbitration Procedure adopted by FINRA. The parties further agree that any contract, agreement or understanding between a party and its designees shall contain a provision binding the designee to the terms of this Arbitration Provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.1.*** Arbitration will be held in accordance with the rules and regulations of the Code
of Arbitration Procedure adopted by FINRA, except (a) in the event that FINRA is unwilling to accept jurisdiction of the matter, such
arbitration will be held in accordance with the rules and regulations of the American Arbitration Association under the Commercial Arbitration
Procedures then in effect, and (b) in the event that a non-party to this Agreement brings an arbitration relating to or arising out of
this Agreement, then the entire dispute shall be arbitrated in whichever arbitration forum such arbitration is brought, and the parties
and their designees agree to submit to the jurisdiction of such arbitration forum. In the event that (x) a non-party initiates a judicial
proceeding relating to, or arising out of, this Agreement, and (y) such claim cannot be compelled to arbitration, and (z) a party or its
designee asserts a claim against another party or its designee in connection with such proceeding, then the entire dispute shall be litigated
in that court, and the parties and their designees agree to submit to the jurisdiction of the court in that judicial proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.2.*** If the arbitration is brought by a party, the number of arbitrators will be three
(3), and they will be selected in accordance with the rules and regulations of the Code of Arbitration Procedure adopted by FINRA, or
the American Arbitration Association under the Commercial Arbitration Procedures then in effect, as appropriate. To the extent possible,
the arbitrators shall be attorneys specializing in securities law. The arbitration shall be governed by the Federal Arbitration Act, 9
U.S.C. §§ 1-16, to the exclusion of state laws inconsistent therewith, and judgment upon the award may be entered in any court
having jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.3.*** The parties and their respective designees will each bear their own expenses,
including legal and expert fees, if any, with respect to the arbitration. The arbitrator will designate the party and/or designee to bear
the costs of the arbitration forum and arbitrator's fees or the respective amounts

of such costs to be borne by each party and/or their designees. Any costs or fees, including attorneys fees, involved in enforcing the award shall be fully assessed against and paid by the party and/or designee resisting or preventing enforcement of the award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.4.*** Nothing in this Section 20 will prevent the parties from resorting to judicial proceedings
or otherwise for injunctive relief to prevent or limit irreparable harm or injury to such a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. Notices

Any notice provided under this Agreement shall be sufficiently given when either delivered personally by hand or received by facsimile, electronic mail, or certified mail at the following address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1. If to the Trust:

 ****

Cantor Fitzgerald Variable Insurance Trust Attn: Legal Department

110 East 59<sup>th</sup> Street New York, NY 10022

Email: legalnotices@cantor.com; oconnorlegal@cantor.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2. If to Distributor:

 ****

Ultimus Fund Distributors, LLC Attn: General Counsel

4221 North 203rd Street, Suite 100

Elkhorn, NE 68022

Email: legal@ultimusfundsolutions.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. General Provisions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.1.***  ***Incorporation by Reference.*** This Agreement and its schedules, exhibits,
and other documents incorporated by reference express the entire understanding of the parties and supersede any other agreement between
them relating to the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.2.***  ***Conflicts.*** In the event of any conflict between this Agreement and
any schedule, exhibit or other appendices hereto, this Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.3.***  ***Governing Law.*** This Agreement shall be construed in accordance with
the laws of the state of New York and the applicable provisions of the 1940 Act. To the extent that the applicable laws of the state of
New York, or any of the provisions herein, conflict with the applicable provisions of the 1940 Act, the latter shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.4.***  ***Questions of Interpretation.*** Any question of interpretation of any
term or provision of this Agreement having a counterpart in or otherwise derived from a term or provision of the 1940 Act shall be resolved
by reference to such term or provision of the 1940 Act and to interpretation thereof, if any, by the United States courts or in the absence
of any controlling decision of any

such court, by rules, regulations or orders of the SEC issued pursuant to the 1940 Act. In addition, where the effect of a requirement of the 1940 Act, reflected in any provision of this Agreement is revised by rule, regulation or order of the SEC, such provision shall be deemed to incorporate the effect of such rule, regulation or order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.5.***  ***Headings.*** Section and paragraph headings in this Agreement are included
for convenience only and are not to be used to construe or interpret this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.6.***  ***Multiple Counterparts.*** This Agreement may be executed in two or
more counterparts, each of which when executed shall be deemed to be an original, but such counterparts shall together constitute but
one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.7.***  ***Severability.*** If any part, term or provision of this Agreement is
held to be illegal, in conflict with any law or otherwise invalid, the remaining portion or portions shall be considered severable and
not be affected by such determination, and the rights and obligations of the parties shall be construed and enforced as if this Agreement
did not contain the particular part, term or provisions held to be illegal or invalid.

*Signatures are located on the next page.*

The parties duly executed this Agreement as of April 1, 2026.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cantor Fitzgerald Variable Insurance Trust** | **Ultimus Fund Distributors, LLC** |
| &nbsp;&nbsp;&nbsp;&nbsp;By: /s/ William Ferri | By: /s/ Kevin Guerette |
| &nbsp;&nbsp;&nbsp;&nbsp;Name: William Ferri | Name: Kevin Guerette |
| &nbsp;&nbsp;&nbsp;&nbsp;Title: Chairman and President | Title: President |
| &nbsp;&nbsp;&nbsp;&nbsp;**O'Connor Alternative Investments, LLC** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;By: /s/ William Ferri |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Name: William Ferri |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Executive Officer |  |

---

 **SCHEDULE A**

**to the Distribution Agreement**

**between**

**Cantor Fitzgerald Variable Insurance Trust, O'Connor Alternative Investments, LLC, and**

**Ultimus Fund Distributors, LLC dated April 1, 2026**

<u>**Fund Portfolio(s)**</u>

**Cantor Fitzgerald Commodity Return Strategy Portfolio**

## Ex-99.J

**CERTIFICATE**

The undersigned, Assistant Secretary of the Cantor Fitzgerald Variable Insurance Trust, hereby certifies that the following resolution was duly adopted by a majority of the Board of Trustees at a meeting held on March 13, 2026, and is in full force and effect:

WHEREAS, the Trust, a trust organized under the laws of the State of Delaware, has filed with the Securities Exchange Commission (the "SEC") under the provisions of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, a registration statement (the "Registration Statement"), with respect to the issuance and sale of the shares of the Trust.

NOW, THEREFORE, BE IT HEREBY RESOLVED, that the Trustees of the Trust hereby constitute and appoint each of Terrence Davis and/or Tanya Boyle and/or Adam Brajer and/or Ari Buchen, as attorney for the Trust and in its name, place and stead, to execute and file any amendments to the Trust's Registration Statement and to execute and file any necessary filings with the regulatory agencies, including the SEC, as required, granting to said attorneys full power and authority to do and perform every act and thing whatsoever requisite and necessary to be done in and about the premises as fully to all intents and purposes as they might or could do if personally present at the doing thereof, hereby ratifying and confirming all that said attorney may or shall lawfully do or cause to be done by virtue hereof.

Dated: March 13, 2026

Cantor Fitzgerald Variable Insurance Trust

<u>/s/Ari Buchen</u> 

Ari Buchen<br> Assistant Secretary