Document:

Exhibit 10.15

 

EXPENSE LIMITATION AGREEMENT

 

ETF MANAGERS GROUP COMMODITY TRUST I

 

EXPENSE LIMITATION AGREEMENT, effective as of
September 1, 2022, by and between ETF Managers Capital LLC (“ETFMC”) and ETF Managers Group Commodity Trust I (the “Trust”),
on behalf of the Breakwave Dry Bulk Shipping ETF (the “Fund”).

 

WHEREAS, ETFMC and Breakwave Advisors LLC (“Breakwave”)
have entered into a Licensing and Services Agreement, dated March 1, 2018 (the “CTA Agreement”), pursuant which Breakwave
receives a fee based on the value of the average daily net assets of the Fund (the “CTA Fee”); and

 

WHEREAS, ETFMC and Breakwave have determined that
it is appropriate and in the best interests of the Fund and its shareholders to maintain the expenses of the Fund, and, therefore, have
entered into a Fee Waiver Agreement, pursuant to which Breakwave waives the CTA Fee in order to maintain the expense ratio of the Fund
at the level specified in Fee Waiver Agreement; and

 

WHEREAS, ETFMC and the Trust have entered into
this Expense Limitation Agreement (the “Agreement”) in the event that the waiver of the CTA Fee is insufficient to maintain
the expense ration of the Fund at the specified level;

 

NOW, THEREFORE, for good and valuable consideration,
the receipt of which is hereby acknowledged the parties hereto agree as follows:

 

1. Expense Limitation.

 

1.1 APPLICABLE
EXPENSE LIMIT. To the extent that the aggregate expenses of every character incurred by the Fund in any fiscal year, including but not
limited to, fees of ETFMC (but excluding brokerage fees, interest expenses, and extraordinary expenses) (“Fund Operating Expenses”),
exceed the Operating Expense Limit, as defined in Section 1.2 below, plus the CTA Fee, such excess amount (the “Excess Amount”)
shall be the liability of ETFMC.

 

1.2 OPERATING
EXPENSE LIMIT. The maximum Operating Expense Limit in any year with respect to the Fund shall be 3.50% of the average daily net assets
of the Fund.

 

2. Term and Termination of Agreement.

 

This Agreement shall continue in effect through
March 31, 2024, and from year to year thereafter at the option of ETFMC. This Agreement shall terminate automatically upon the termination
of the CTA Agreement.

 

3. Miscellaneous.

 

3.1 CAPTIONS.
The captions in this Agreement are included for convenience of reference only and in no other way define or delineate any of the provisions
thereof or otherwise affect their construction or effect.

 

     

     

    

 

3.2 INTERPRETATION.
Nothing herein contained shall be deemed to require the Fund to take any action contrary to the Trust’s Declaration of Trust and
Trust Agreement, or any applicable statutory or regulatory requirement to which it is subject or by which it is bound.

 

3.3 DEFINITIONS.
Any question of interpretation of any term or provision of this Agreement, including but not limited to, the advisory fee, the computations
of net asset values, and the allocation of expenses, having a counterpart in or otherwise derived from the terms and provisions of the
CTA Agreement or the Fund’s current registration statement, shall have the same meaning as and be resolved by reference to such
CTA Agreement or registration statement.

 

3.4 AMENDMENT.
This Agreement may not be amended or modified in any manner except by written agreement executed by ETFMC and the Trust.

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be signed by their respective officers thereunto duly authorized, effective as of the day and year first above written.

 

	 	ETF Managers Capital LLC

 

	 	By:	/s/ Samuel Masucci, III
	 	Name: 	Samuel Masucci, III
	 	Title: 	Chief Executive Officer

 

	 	ETF Managers Group Commodity Trust I

 

	 	By:	/s/ Samuel Masucci, III
	 	Name: 	Samuel Masucci, III
	 	Title:	Principal Executive OfficerExhibit 10.1

         

         

    
    
      	 		 

    

    

    
     
   

    
    
      	 		 

    

    

    
     
   

    
    
      	 		 

    

    

    
     
   

    
    
      	 		 

    

    

    
     
   

    
    
      	 		 

    

    

    
     
   

    
    
      	 		 

    

    

    
     
   

 DEBT RESTRUCTURING AGREEMENT THIS DEBT RESTRUCTURING AGREEMENT (this
“Agreement”), dated as of September 30, 2016 (the “Effective Date”), is made by and among Stephen Brock (“Brock”)
and K. Brock & S. Brock General Partners trustee of Brock Family Trust, K. Brock & S. Brock General Partners Brock Family Trust
UADTD 06/24/1998, K. Brock & S. Brock General Partners Trustee of Brock Family Trust, and the Brock Irrevocable Trust (together with
Brock, the “Related Parties”) and Public Company Management Corporation, a Nevada corporation (the “Company”).
RECITALS A. The Brock and the Related Parties are the holders of a certain promissory note made by the Company (the “Note”)
or are holders of certain obligations or payables of the Company (the “Obligations”), B. As of September 30, 2008, the Company
had accrued $540,000 in compensation to Brock and from October 1, 2008 to September 30, 2009, the Company had accrued an additional $180,000
in compensation to Brock, included as part of the Obligations. C. The aggregate outstanding principal of the Note, without accrued and
unpaid interest on the Note to Brock, as of September 30, 2016 is $33,129. D. The parties believe it is in the best interest of the Company
and the Related Parties to restructure the Note and combine the Obligations (which also include, but are not limited to payments by Brock
and Related Parties, or either, to Wells Fargo Bank under the Bank Line of Credit and the Note Payable to Bank of America, and other
advances made on or after September 30, 2009 to the Effective Date (the “Restructure”). E. The Related Parties and the Company
desire to Restructure the Obligations and the Note by (i) cancelling the outstanding Note and all outstanding principal and accrued and
unpaid interest thereunder and (m) issuing a Promissory Note (the “New Note”) as at the Effective Date, containing all of
the Obligations owed to Brock and the Related Parties by the Company F. The Brock, Related Parties, and the Company desire to enter into
this Agreement to set forth the terms and conditions of the Restructuring. AGREEMENT NOW, THEREFORE, in consideration of the mutual representations,
warranties, covenants, and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows: 1. Restructuring. 1.1 Exchange of Notes. 1 (a) Brock and the Related
Parties hereby sell, assign, transfer and deliver to the Company, and the Company hereby acquires and cancels the Note in in exchange
for the execution of the New Note by the Company and the delivery thereof to Brock. The Company, Brock and the Related Parties agree
that the execution and delivery of the New Note by the Company to Brock shall constitute full satisfaction of the Note and all Obligations
by the Company to Brock and the Related Parties, or either, and on the Effective Date, the Note and all rights thereunder and the Obligations
thereunder shall be cancelled. (b) Prior to the date hereof, differences of opinion as to matters of fact and as to matters of law have
arisen by and between the parties and because of said differences of opinion as to matters of fact and as to matters of law, which includes,
but is not limited to the Nevada Revised Statutes pertaining to time periods for which a potential plaintiff has to file a civil lawsuit,
the parties desire to resolve all of their differences by this Agreement and the mutual release described in Section 3 herein. (c) Company,
Brock and the Related Parties have agreed that the New Note shall be in the principal sum of $350,000, a copy is attached hereto and
made a part hereof by reference. 1.2 Deliveries by Brock and Related Parties. Upon the execution of this Agreement, Brock and the Related
Parties shall deliver to the Company: (a) The original Note, if available, which was issued in favor of Brock, along with the Assignments
of Note, in a form reasonably acceptable to the Company, executed in favor of the Company; and (b) Executed original signature pages
to this Agreement and the New Note to which the Company and Brock are parties. 1.3 Deliveries by Company. Upon the execution of this
Agreement, the Company shall deliver to Brock and the Related Parties an executed original signature page to this Agreement and the New
Note to be issued by the Company in favor of Brock. 1.4 Declarations of Lost Note. In the event that the Note is not available, Brock
hereby declares as follows: (a) Brock is the owner of the Note. (b) Brock has no knowledge or information as to the present whereabouts
of the original Note owned by Brock that may not or will not be delivered to the Company pursuant to Section 1.3 of this Agreement (the
“Missing Note”) and believes that such Note has been lost, misplaced, destroyed or stolen. 2 (e) The Missing Note nor any
interest therein has not been sold, assigned, endorsed, transferred, deposited under any agreement, hypothecated, pawned, pledged for
any bank or brokerage loan or otherwise, or disposed of in any manner by or on behalf of Brock; neither Brock nor anyone acting on Brock’s
behalf has signed any power of attorney, any stock power or any other assignment or authorization respecting the same which is now outstanding
and in force; and no person, firm or corporation has any right, title, claim, equity or interest in, to or respecting any of the
Missing Note. (d) This declaration is made for the purpose of inducing the issuance of the New Note in lieu of and in substitution or
exchange for the Note without requiring the surrender of the Missing Note. (e) Brock hereby agrees to immediately surrender the Missing
Note that at any time hereafter comes into Brock’s possession or control. (f) Brock agrees to indemnify and hold harmless the Company
in the event the Company shall, at any time or from time to time, suffer any damage, liability, loss or deficiency arising out
of or resulting from, or shall pay or become obligated to pay any sum on account of any inaccuracy, misstatement of fact or breach of
any duty contained herein or created hereunder. 2. Termination of Note. As if the Effective Date and upon the issuance of the New Note,
the Note is hereby terminated, cancelled and of no further force and effect, all outstanding principal and accrued interest with respect
to the Note is hereby cancelled, forgiven and released, and the parties thereunder are released of all of their obligations thereunder.
3. Mutual Release. 3.1 Mutual Release. Except for the obligations created by this Agreement and the New Note, effective at the Effective
Date, the Company, Brock and the Related Parties fully, finally and forever release and agree to hold harmless each other and all
their respective successors, assigns, officers, directors, stockholders, employees, lenders, affiliates, attorneys, consultants,
advisors and agents (each, a “Releasee“) from and against any and all manner of action or actions, cause or causes of action,
in law or in equity, suits, debts, liabilities, claims, demands, damages, losses, costs and expenses, of any nature whatsoever, known
or unknown, fixed or contingent, foreseeable or unforeseeable (collectively, the “Claims”), which the parties may have
at the Effective Date or may thereafter have against any of the released patties by reason of any matter, cause or thing whatsoever from
the beginning of time to the Effective Date arising out of or based upon the Note or the Obligations (the “Release”). Each
of the parties hereto acknowledges that it may hereafter discover facts different from or in addition to those which it now knows or
believes to be true with respect to the Claims which are the subject of the Release and each party expressly agrees to assume the risk
of the possible discovery of additional or different facts, and agrees that the Release shall be and remain effective in all respects,
regardless of such additional or different facts. Each of the parties hereto understands and agrees that it shall expressly waive and
relinquish all rights and 3 benefits, if any, it may have under the statutory provisions of state law or federal law with respect
to the Claims which are the subject of the Release. State and federal laws contain provisions that read substantially as follows: A GENERAL
RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT TI-IE
TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR
OR RE- LEASED PARTY. 

   

    
    
      	 		 

    

    

    
     
   

 In connection with the
Release, each of the parties hereto represents and warrants to the other party that he or it has not assigned or transferred, and he
or it will not assign or transfer, any Claim or any interest in any Claim which he or may have against any of the released parties. The
parties, and each of them, have acknowledged that they have separately bargained for the foregoing waiver of the unknown Claims and the
waiver also includes any and all common law Claims. The parties and each of them, expressly consent that this release shall be given
in full force and effect in accord with each and all of the expressed terms and provisions, including those terms and provisions relating
to any other claims, demands and causes of action whether specified or not specified. 3.2 Breach of Release. Each of the
parties hereto agrees that if either hereafter commences, joins in, or in any manner seeks relief through any suit arising out of, based
upon, or relating to any of the Claims released by such party hereunder, or in any manner asserts against any other party hereto or the
Releases any of the claims released hereunder (collectively, the “Released Claims”), the party asserting such Released Claim
shall pay to such other party or such Releasee, as the case may be, in addition to any other damages caused to such other party or such
Releasee, as the ease may be, all reasonable attorneys’ fees incurred in defending or otherwise responding to said suit or claim.
3.3 Rights Related to Release Provisions. In connection with the release provisions of this Agreement, each of the parties is aware that
he or it has the right to consult with an attorney before signing this Agreement and is hereby advised by the Company to do so. 4. Representations.
4.1 Investment Representations. Brock represents and warrants that he: (a) has substantial experience in evaluating and investing in
transactions involving companies similar to the Company such that he is capable of evaluating the merits and the risks of his investment
in the Company and has the capacity to protect his interests; (b) understands the acquisition of his New Note is a speculative investment
which involves a high degree of risk of loss of such investment; (c) is able to bear the economic risk of his investment for an indefinite
period of time, including the risk of a complete loss of the investment; (d) is acquiring his New Note for 4 investment for his own account,
not as a nominee or agent, and not with a view to the resale or distribution thereof and (e) is an “accredited investor”
as defined in Rule 501 of Regulation D under the Securities Act of 1933, as amended. Brock acknowledges and agrees that the New
Note shall bear the following restrictive legend: “THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAWS (THE “STATE ACTS”). THIS NOTE I-IAS BEEN ACQUIRED
BY THE HOLDER FOR INVESTMENT AND MAY NOT BE TRANSFERRED UNLESS REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE ACTS OR AN EXEMPTION
FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE.” 4.2 Authority Relative to This Agreement. The Company has full corporate power
and authority to execute, deliver, and perform this Agreement and the New Note and to consummate the transactions contemplated by this
Agreement and the New Note. The execution, delivery and performance of this Agreement and the New Note by the Company and the consummation
by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action of the Company,
and no other action on the part of the Company or any affiliate of the Company is necessary to authorize such execution, delivery and
performance. This Agreement and the New Note have been duly executed and delivered by the Company and, assuming due execution and delivery
by the other parties thereto, this Agreement and the New Note constitute valid and legally binding obligations of the Company, enforceable
against the Company in accordance with their respective terms, except that such enforceability may be limited by (i) applicable bankruptcy,
insolvency, reorganization, moratorium, and similar laws affecting creditors’ rights generally and (ii) equitable principles which
may limit the availability of certain equitable remedies in certain instances. 5. Miscellaneous. 5.1 Confidentiality of Agreement. Except
as may be required by law or otherwise made publicly available by the Company, neither of the parties, nor their respective attorneys
or any person acting by, through, under or in concert with any of them, shall disclose any of the terms of or facts relating to this
Agreement or the negotiation thereof to any individual or entity, except for disclosures made between the parties and their respective
attorneys, spouses, children, or tax advisers. 5.2 Notices. All notices required or permitted hereunder shall be in writing and shall
be deemed effectively given: (a) upon personal delivery to the party to be notified; (b) when sent by confirmed telex or
facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (e) live (5) days after having
been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent
to the party to be notified at the address indicated for such party on the signature page hereof or at such other address as such
party may designate by ten (10) days advance written notice to the other parties hereto. 5 5.3 Informed Consent. Prior to the execution
of this Agreement, the parties have apprised themselves of sufficient relevant information, either through their attorneys or other
sources of their own selection, in order that they might intelligently exercise their own judgment in deciding whether to execute this
Agreement. 5.4 Voluntary Act. Each party has read this Agreement and understands its terms. Each party has executed this Agreement voluntarily
and with full knowledge of its legal significance. 5.5 Assignment. This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto and their respective predecessors, heirs, successors, representatives and assigns. 5.6 Fees and Expenses.
Each party shall be liable for its own costs and expenses incurred in connection with this Agreement. 5.7 Further Assurances. Each party
agrees to perform any further acts and execute and deliver any further documents which reasonably may be necessary to carry out the provisions
and intent of this Agreement. 5.8 Governing Law. The validity, interpretation and performance of this Agreement shall be governed by
and construed under the laws of the State of Nevada without regard to conflicts of laws principles. 5.9 Enforcement. The parties
hereto consent and agree that jurisdiction for the resolution of any dispute between them in respect of the enforcement of the rights
and duties created by this Agreement shall reside in any federal or state court sitting in Cook County, State of Nevada. Service in any
action to enforce rights created by this Agreement may be effected on counsel-of-record for any party to this Agreement. The prevailing
party in any action to enforce this Agreement shall be entitled to recover its costs and expenses, including, without limitation, reasonable
attorneys’ fees. 5.10 Entire Agreement; Amendments. This Agreement may not be amended or modified except by an instrument
in writing signed on behalf of each of the parties hereto. 5.11 Counterparts. This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same Agreement. [Signature page follows
on page 7] 6 [SIGNATURE PAGE TO DEBT RESTRUCTURING AGREEMENT] IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written. )?)w ON a /‘Z,§’ /1,, 30“! I4 lap Lu,-5 4 ' Vvl ‘ “RELATED
PARTIES” 5'7” A’;//p “COMPANY” ‘fie \ K. Brock & S. Brock General Partners trustee of Brock
Family . By: General partner, duly authorized K. Brock & S. Brock General Partners Brock Family Trust UADTD 06/ 4/19 8 By: / V General
P , duly authorized K. Brock & S. Brock General Partners Trustee of Brock Family By: Stephen Brock, duly authorized Brock Irrevocable
Trust By: Stephen Brock, Trustee “COMPAY” PUBLIC COMPANY MANAGEMENT CORPORATION a Nevada corporation Name: Stephen Brock
Title: President and Chief Operating Officer 7 CONSENT OF SPOUSE OF STEPHEN BROCK The undersigned, the spouse of Stephen Brock
to the foregoing Agreement, acknowledges on her own behalf that: (a) I have read the foregoing Agreement and l know its contents; (b)
I am aware that by its provisions my spouse has agreed to sell, assign, transfer and deliver to the Company the Note owned by my spouse,
including my community interest therein, and the Obligation owned by my spouse, including my community interest therein, (e) I hereby
consent to the sale, approve of the provisions of the Agreement, and agree that such Note, including my interest therein, and the Obligation
referred to therein, including my interests therein, that are subject to the provisions of the Agreement and that I will take no action
at any time to hinder the operation of the Agreement on such Note of Obligations or my interest therein. I, D - Kathryn Brock 8

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