Document:

EX-10.8

 Exhibit 10.8 

SPONSOR AGREEMENT 

THIS SPONSOR AGREEMENT (the “Agreement”), dated as of July 25, 2016, is made by and between WGC USA Asset Management Company,
LLC, a Delaware limited liability company (“Sponsor”), and the Global Currency Gold Trust, a statutory trust organized under the laws of Delaware (the “Trust”), both for itself and on behalf of each of its currently operating
series set forth on Schedule A to this Agreement (each, a “Fund” and collectively, the “Funds”), as such Schedule may be amended from time to time. 

1. The Trust and the Funds. Each of the Funds may be deemed commodity pools for purposes of the
Commodity Exchange Act of 1936, as amended (the “Commodity Exchange Act”) and the applicable regulations of the Commodity Futures Trading Commission. Each of the Funds is sponsored by the Sponsor, a commodity pool operator registered under
the Commodity Exchange Act. Neither the Trust nor any Fund is an investment company under the Investment Company Act of 1940 (the “Investment Company Act”) and neither is required to register thereunder. The Sponsor is not registered as an
investment adviser under the Investment Advisers Act of 1940 and is not required to register thereunder. 
 2.
Appointment. Pursuant to the terms of the Trust’s Amended and Restated Agreement and Declaration of Trust (the “Declaration of Trust”), Sponsor was appointed to serve as sponsor for the Funds, with full
powers and rights to effectuate and carry out the purposes, activities and objectives of the Trust and the Funds. Sponsor has accepted such appointment and hereby agrees to render such services to the Trust and the Funds on the terms and conditions
set forth in this Agreement and the Declaration of Trust. 
 3. Duties. Sponsor will perform such
duties for the Funds as set forth in Article IV of the Declaration of Trust in accordance with Sponsor’s best judgment and as outlined in each Fund’s then-current prospectus included as part of a registration statement filed with the U.S.
Securities and Exchange Commission (“SEC”).
 4. Execution of Trust Documents. Pursuant to the
terms of the Declaration of Trust, the Sponsor is authorized to execute documents for and on behalf of the Trust. For the avoidance of doubt, when a specified officer of the Trust is required to execute a document, including but not limited to
filings required to be made with regulatory authorities such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, the following officers of the Sponsor (or persons performing similar functions) shall be authorized
to execute the document in the capacities indicated below: 
  

			
	 Specified Trust Officer
	  	 Sponsor Officer Authorized to Execute Trust Document

in the Capacity of the Specified Trust Officer

	Principal Executive Officer	  	Chief Executive Officer / President
	Principal Financial Officer	  	Chief Financial Officer / Treasurer
	Principal Accounting Officer	  	Chief Financial Officer / Treasurer
	Comptroller	  	Chief Financial Officer / Treasurer

  
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 5. Reporting; Record Keeping. Sponsor will be available
at reasonable times to discuss the activities of the Funds with the trustee of the Trust or its designee. Any written reports supplied by Sponsor to the Trust discussing the activities of the Funds are intended solely for the benefit of the Trust
and the Funds, and the Trust agrees that it will not disseminate such reports to any other party (other than the Funds’ service providers) without the prior consent of Sponsor, except as may be required by applicable law. Sponsor shall make or
cause to be made, and shall maintain or cause to be maintained, all records as are required to be made or maintained by it in its capacity as Sponsor and commodity pool operator of the Funds. 

6. Other Accounts. The Trust understands and acknowledges that Sponsor may act as sponsor or commodity
pool operator for various persons other than the Funds. The Trust, on behalf of the Funds, acknowledges that Sponsor may give advice and take action concerning other persons that may be the same as, similar to or different from the advice given, or
the timing and nature of action taken, concerning the Funds. Except to the extent necessary to perform Sponsor’s obligations under this Agreement, nothing herein shall be deemed to limit or restrict the right of Sponsor, or any affiliate of
Sponsor or any employee of Sponsor 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
corporation, firm, individual or association. 
 7. Sponsor’s Compensation. Each Fund shall pay
to Sponsor a fee as described in Schedule A that is attached hereto and made a part hereof. Such fee shall be computed daily and paid not less than monthly in arrears by such Fund. No other compensation is paid to the Sponsor by the
Funds. Sponsor’s compensation is paid in consideration of Sponsor’s (i) services under this Agreement and the Declaration of Trust and (ii) the payment by Sponsor of the Fund expenses described in paragraph 8 below. 

8. Ordinary Fees and Expenses. Except for the fees and expenses payable to the Funds’ gold
delivery provider, Sponsor shall be responsible for the payment of the ordinary fees and expenses of the Funds, including but not limited to the following: fees charged by the Funds’ administrator, custodian, index provider, marketing agent and
trustee, NYSE Arca listing fees, typical maintenance and transaction fees of The Depository Trust Company, SEC registration fees, printing and mailing costs, audit fees and expenses, legal fees not in excess of $100,000 per annum and expenses and
applicable license fees. Sponsor shall not be required to pay any extraordinary expenses not incurred in the ordinary course of the Funds’ business. Extraordinary expenses are fees and expenses which are unexpected or unusual in
nature, such as legal claims and liabilities and litigation costs or indemnification or other unanticipated expenses. Extraordinary fees and expenses also include material expenses which are not currently anticipated obligations of the
Funds. In addition, Sponsor shall not be required to pay any charges, fees, transaction or other costs in connection with any gold delivery agreement or ISDA agreement in connection with the delivery of gold to or from a Fund. Routine
operational, administrative and other ordinary expenses are not deemed extraordinary expenses. 

  
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 9. Liability and Indemnification. Sponsor will not be
liable for losses to the Funds, and Sponsor shall be indemnified, to the extent provided in Section 4.05 of the Declaration of Trust. 

10. Tax Filings. Except as described in any applicable filings with the SEC, Sponsor will not be responsible
for making any tax credit or similar claim or any legal filing on the Trust’s or Funds’ behalf. 
 11. Governing
Law/Disputes. This Agreement is entered into in accordance with and shall be governed by the laws of the State of Delaware; provided, however, that in the event that any law of the State of Delaware shall require that the laws of
another state or jurisdiction be applied in any proceeding, such Delaware law shall be superseded by this paragraph, and the remaining laws of the State of Delaware shall nonetheless be applied in such proceeding. Each party agrees that in the event
that any dispute arising from or relating to this Agreement becomes subject to any judicial proceeding, such party waives any right it may otherwise have to (a) seek punitive damages, or (b) request a jury trial. 

12. Termination. This Agreement may be terminated (i) by Sponsor at any time upon 30 days’ prior written
notice; or (ii) by either party upon discovery of acts of fraud or willful malfeasance of the other party in performing its duties hereunder. Any obligation or liability of either party resulting from actions or inactions occurring prior to
termination shall not be affected by termination of this Agreement. 
 13. Assignment. This Agreement may
be assigned by either party upon prior notice to the other party. 
 14. Notices. All notices and other
communications under this Agreement shall be in writing and shall be addressed to the parties at their respective addresses. 
 Sponsor
shall comply with, and be entitled to act on, any instructions reasonably believed to be from an authorized representative of the Trust. Sponsor and its employees and agents shall be fully protected from all liability in acting upon such
instructions, without being required to determine the authenticity of the authorization or authority of the persons providing such instructions. 

15. Severability. In the event any provision of this Agreement is adjudicated to be void, illegal, invalid or
unenforceable, the remaining terms and provisions of this Agreement shall not be affected thereby, and each of such remaining terms and provisions shall be valid and enforceable to the fullest extent permitted by law, unless a party demonstrates by
a preponderance of the evidence that the invalidated provision was an essential economic term of this Agreement. 
 16.
Integration; Amendment. This Agreement together with any other written agreements between the parties entered into concurrently with this Agreement contain the entire agreement between the parties with respect to the transactions
contemplated hereby and supersede all previous oral or written negotiations, commitments and understandings related thereto. This Agreement may not be amended or modified in any respect, nor may any provision

  
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be waived, without the written agreement of both parties. No waiver by one party of any obligation of the other hereunder shall be considered a waiver of any other obligation of such party. 

17. Further Assurances. Each party hereto shall execute and deliver such other documents or agreements as may be
necessary or desirable for the implementation of this Agreement and the consummation of the transactions contemplated hereby. 

18. Headings. The headings of paragraphs herein are included solely for convenience and shall have no effect on the
meaning of this Agreement. 
 19. Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed to be an original and all of which taken together shall be deemed to be one and the same instrument. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
above written. 
  

			
	The Global Currency Gold Trust
		
	By:	 	 Delaware Trust Company, its Trustee

					
			
		 	By:	 	 /s/ Alan R. Halpern

					
			
		 	Title:	 	 Vice President

 
					
			
		 	Name:	 	 Alan R. Halpern

 
			
	
	WGC USA Asset Management Company, LLC
		
	By:	 	 /s/ Gregory S. Collett

			
		
	Name:	 	 Gregory S. Collett

			
		
	Title:	 	 Principal Executive Officer

 Signature Page – Sponsor Agreement 

 SCHEDULE A 

to the 
 SPONSOR AGREEMENT

 Dated July 25, 2016 between 

THE GLOBAL CURRENCY GOLD TRUST 

and 
 WGC USA ASSET
MANAGEMENT COMPANY, LLC 
 The Trust will pay to the Sponsor as compensation for the Sponsor’s services rendered to each Fund, a fee, computed
daily at an annual rate based on the average daily net assets of each Fund in accordance with the following fee schedule: 
  

					
	 Fund
	  	Rate	 
	 Global Currency Gold Fund
	  	 	0.33	% 

  
 A-1EX-10.9

 Exhibit 10.9 
 

 
 FORM OF CUSTODY AGREEMENT 

AGREEMENT, dated as of             , 20     by and between the
World Currency Gold Trust (the “Trust”), a Delaware statutory trust organized in series, having its principal office and place of business at 685 Third Avenue, 27th Floor, New York, New York 10017, on behalf of each of its series (each, a
“Fund” and collectively, the “Funds”) as listed on Schedule II hereto (as such Schedule may be amended from time to time) and The Bank of New York Mellon, a New York corporation authorized to do a banking business, having its
principal office and place of business at One Wall Street, New York, New York 10286 (“Custodian”). 
 W I T N E S S E T H:

 That for and in consideration of the mutual promises hereinafter set forth the Trust and Custodian agree as follows: 

ARTICLE I 
 DEFINITIONS

 Whenever used in this Agreement, the following words shall have the meanings set forth below: 

1. “Authorized Person” shall mean each person, whether or not an officer or an employee of the Trust, duly authorized to
execute this Agreement and to give Instructions on behalf of the Trust as set forth in Schedule I hereto and each Authorized Person’s scope of authority may be limited by setting forth such limitation in a written document signed by both
parties hereto. From time to time the Trust may deliver a new Schedule I to add or delete any person and Custodian shall be entitled to rely on the last Schedule I hereto actually received by Custodian. 

2. “Business Day” shall mean any day on which Custodian is open for business. 

3. “Cash” shall mean U.S. dollars. 

4. “Certificate” shall mean any notice, instruction, or other instrument in writing, authorized or required by this Agreement
to be given to Custodian, which is actually received by Custodian by letter or facsimile transmission and signed on behalf of the Trust by an Authorized Person or a person reasonably believed by Custodian to be an Authorized Person. 

5. “Composite Currency Unit” shall mean the Euro or any other composite currency unit consisting of the aggregate of
specified amounts of specified currencies, as such unit may be constituted from time to time. 
 6. “Custodian Affiliate”
shall mean any office, branch or subsidiary of The Bank of New York Mellon Corporation. 

 7. “Depository” shall include (a) the Book-Entry System, (b) the Depository
Trust Company, (c) any other clearing agency or securities depository registered with the Securities and Exchange Commission identified to the Trust from time to time, and (d) the respective successors and nominees of the foregoing. 

8. “Instructions” shall mean communications actually received by Custodian by S.W.I.F.T., tested telex, letter, facsimile
transmission, or other method or system specified by Custodian as available for use in connection with the services hereunder, from an Authorized Person. 

9. “Oral Instructions” shall mean verbal instructions received by Custodian from an Authorized Person or from a person
reasonably believed by Custodian to be an Authorized Person. 
 10. “Sponsor” shall mean the designated sponsor of the
Trust, currently WGC USA Asset Management Company, LLC. 
 11. “Transfer Agent” shall mean The Bank of New York Mellon,
subject to a separate Transfer Agency and Service Agreement entered into between the parties, or any successor transfer agent identified to Custodian in a Certificate. 

ARTICLE II 
 APPOINTMENT
OF CUSTODIAN; ACCOUNTS; 
 REPRESENTATIONS, WARRANTIES, AND COVENANTS 

1. (a) The Trust, on behalf of each Fund, hereby appoints Custodian as custodian of all cash at any time delivered to Custodian during the
term of this Agreement. Custodian hereby accepts such appointment and agrees to establish and maintain one or more cash accounts for each Fund (each such account being separate and distinct with respect to each Fund). Custodian shall maintain
books and records segregating the assets of each Fund from the assets of any other Fund. Such accounts (each, an “Account”; collectively, the “Accounts”) shall be in the name of the applicable Fund. 

(b) Custodian may from time to time establish on its books and records such sub-accounts within each Account as the Trust and Custodian may
agree upon (each a “Special Account”), and Custodian shall reflect therein such assets as the Trust may specify in a Certificate or Instructions. 

(c) Custodian may from time to time establish pursuant to a written agreement with and for the benefit of a broker, dealer, futures commission
merchant or other third party identified in a Certificate or Instructions such accounts on such terms and conditions as the Trust and Custodian shall agree, and Custodian shall transfer to such accounts such Cash as the Trust may specify in a
Certificate or Instructions. 
 2. The Trust, on its own behalf and on behalf of each Fund, hereby represents and warrants, which
representations and warranties shall be continuing and shall be deemed to be reaffirmed upon each delivery of a Certificate or each giving of Oral Instructions or Instructions by the Trust, that: 

(a) It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now
conducted, to enter into this Agreement, and to perform its obligations hereunder; 

  
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 (b) This Agreement has been duly authorized, executed and delivered by the Trust, constitutes a
valid and legally binding obligation of the Trust, enforceable in accordance with its terms, and there is no statute, regulation, rule, order or judgment binding on it, and no provision of its charter or by-laws, nor of any mortgage, indenture,
credit agreement or other contract binding on it or affecting its property, which would prohibit its execution or performance of this Agreement; 

(c) It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has
obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted; 
 (d) It will not use the
services provided by Custodian hereunder in any manner that is, or will result in, a violation of any law, rule or regulation applicable to the Trust; 

(e) It is fully informed of the protections and risks associated with various methods of transmitting Instructions and Oral Instructions and
delivering Certificates to Custodian, shall, and shall cause each Authorized Person, to safeguard and treat with extreme care any user and authorization codes, passwords and/or authentication keys, understands that there may be more secure methods
of transmitting or delivering the same than the methods selected by it, agrees that the security procedures (if any) to be followed in connection therewith provide a commercially reasonable degree of protection in light of its particular needs and
circumstances, and acknowledges and agrees that Instructions need not be reviewed by Custodian, may be presumed in good faith by Custodian to have been given by person(s) duly authorized, and may be acted upon as given; 

(f) It shall impose and maintain restrictions on the destinations to which cash may be disbursed by Instructions to ensure that each
disbursement is for a proper purpose; and 
 (g) It has the right to make the pledge and grant the security interest and security
entitlement to Custodian contained in Section 1 of Article IV hereof, free of any right of redemption or prior claim of any other person or entity, such pledge and such grants shall have a first priority subject to no setoffs, counterclaims, or
other liens or grants prior to or on a parity therewith, and it shall take such additional steps as Custodian may require to assure such priority. 

3. Custodian hereby represents and warrants, which representations and warranties shall be continuing, that: 

(a) It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now
conducted, to enter into this Agreement, and to perform its obligations hereunder; 

  
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 (b) This Agreement has been duly authorized, executed and delivered by Custodian, constitutes a
valid and legally binding obligation of Custodian, enforceable in accordance with its terms, and there is no statute, regulation, rule, order or judgment binding on it, and no provision of its charter or by-laws, nor of any mortgage, indenture,
credit agreement or other contract binding on it or affecting its property, which would prohibit its execution or performance of this Agreement; 

(c) It has, and will maintain, such backup, contingency and disaster recovery procedures as are required by its regulators; and 

(d) It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has
obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted. 
 ARTICLE III 

CUSTODY AND RELATED SERVICES 

(b) (a) Subject to the terms hereof, the Trust, on behalf of each Fund, hereby authorizes Custodian to hold any cash received by it from time
to time for the applicable Fund’s account. Custodian shall be entitled to utilize, subject to subsection (c) of this Section 1, Depositories to the extent possible in connection with its performance hereunder. Cash held in a Depository
will be held subject to the rules, terms and conditions of such entity. Unless otherwise required by local law or practice, cash deposited with a Depositary will be held in a commingled account, in the name of Custodian, holding only cash held
by Custodian as custodian for its customers. Custodian shall identify on its books and records the cash belonging to the applicable Fund, whether held directly or indirectly through Depositories. With respect to each Depository, Custodian (i)
shall exercise due care in accordance with reasonable commercial standards in discharging its duties as a securities intermediary to obtain and thereafter maintain financial assets deposited or held in such Depository, and (ii) will provide,
promptly upon request by the Trust, such reports as are available concerning the internal accounting controls and financial strength of Custodian. 

2. Custodian shall furnish the Trust, on behalf of each Fund, with an advice of daily transactions as promptly as practicable in its ordinary
course processing, after the close of Business on each Business Day and a monthly summary of all transfers to or from the Accounts as promptly as practicable in its ordinary course processing, following such month end. Custodian shall furnish
such reports for such other time periods as the Trust may from time to time reasonably request. 
 3. With respect to all Cash held
hereunder, Custodian shall, unless otherwise instructed to the contrary: 
 (a) Receive all income and other payments and advise the Trust
as promptly as practicable of any such amounts due but not paid; and 
 (b) Endorse for collection checks, drafts or other negotiable
instruments. 

  
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 4. Custodian shall not under any circumstances accept bearer interest coupons which have been
stripped from United States federal, state or local government or agency securities unless explicitly agreed to by Custodian in writing. 

5. The Trust, on behalf of each Fund, shall be liable for all taxes, assessments, duties and other governmental charges, including any
interest or penalty with respect thereto (“Taxes”), with respect to any cash held on behalf of a Fund or any transaction related thereto. The Trust, on behalf of each Fund, as applicable, shall indemnify Custodian for the amount of
any Tax that Custodian or any other withholding agent is required under applicable laws (whether by assessment or otherwise) to pay on behalf of, or in respect of income earned by or payments or distributions made to or for the account of the Trust
(including any payment of Tax required by reason of an earlier failure to withhold, except to the extent that any such failure to withhold any payment of Tax is the result of a failure of the Custodian to discharge its duties in accordance with its
standard of care as set forth in Article VII below). Custodian shall, or shall instruct the applicable withholding agent to, withhold the amount of any Tax which is required to be withheld under applicable law upon collection of any dividend,
interest or other distribution. In the event that Custodian is required under applicable law to pay any Tax on behalf of a Fund, Custodian is hereby authorized to withdraw cash from any cash account for that particular Fund only, in the amount
required to pay such Tax and to use such cash, or to remit such cash to the appropriate withholding agent, for the timely payment of such Tax in the manner required by applicable law. If the aggregate amount of cash in all cash accounts is not
sufficient to pay such Tax, Custodian shall promptly notify the Trust, on behalf of such Fund, of the additional amount of cash (in the appropriate currency) required, and the Trust, on behalf of such Fund, shall directly deposit such additional
amount in the appropriate cash account promptly after receipt of such notice, for use by Custodian as specified herein. In the event that Custodian reasonably believes that a Fund is eligible, pursuant to applicable law or to the provisions of
any tax treaty, for a reduced rate of, or exemption from, any Tax which is otherwise required to be withheld or paid on behalf of the Trust under any applicable law, Custodian shall, or shall instruct the applicable withholding agent to, either
withhold or pay such Tax at such reduced rate or refrain from withholding or paying such Tax, as appropriate; provided that Custodian shall have received from the Trust, on behalf of each Fund, all documentary evidence of residence or other
qualification for such reduced rate or exemption required to be received under such applicable law or treaty. In the event that Custodian reasonably believes that a reduced rate of, or exemption from, any Tax is obtainable only by means of an
application for refund, Custodian shall have no responsibility for the accuracy or validity of any forms or documentation provided by the Trust, on behalf of a Fund, to Custodian hereunder. The Trust, on behalf of each Fund, hereby agrees to
indemnify and hold harmless Custodian in respect of any liability arising from any underwithholding or underpayment of any Tax which results from the inaccuracy or invalidity of any such forms or other documentation, and such obligation to indemnify
shall be a continuing obligation of the applicable Fund, its successors and assigns notwithstanding the termination of this Agreement. 

  
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 6. (a) For the purpose of settling foreign exchange transactions, the Trust, on behalf of each
Fund, shall provide Custodian with sufficient immediately available funds for all transactions by such time and date as conditions in the relevant market dictate. As used herein, “sufficient immediately available funds” shall mean either
(i) sufficient cash denominated in U.S. dollars to purchase the necessary foreign currency, or (ii) sufficient applicable foreign currency, to settle the transaction. Custodian shall provide the Trust, on behalf of each Fund, with immediately
available funds each day which result from the actual settlement of all sale transactions, based upon advices received by Depositories. Such funds shall be in U.S. dollars or such other currency as the Trust, on behalf of the Fund, may specify to
Custodian. 
 (b) Any foreign exchange transaction effected by Custodian in connection with this Agreement may be entered with Custodian or
a Custodian Affiliate acting as principal or otherwise through customary banking channels. The Trust, on behalf of each Fund, may issue a standing Certificate or Instructions with respect to foreign exchange transactions, but Custodian may
establish rules or limitations concerning any foreign exchange facility made available to a Fund. Each Fund shall bear all risks of holding cash denominated in a foreign currency. 

(c) To the extent that Custodian has agreed to provide pricing or other information services in connection with this Agreement, Custodian is
authorized to utilize any vendor reasonably believed by Custodian to be reliable to provide such information. The Trust understands that certain pricing information with respect to complex financial instruments (e.g., derivatives) may be
based on calculated amounts rather than actual market transactions and may not reflect actual market values, and that the variance between such calculated amounts and actual market values may or may not be material. Where vendors do not provide
information for certain property, an Authorized Person may advise Custodian in a Certificate regarding the fair market value of, or provide other information with respect to, such property as determined by it in good faith. Custodian shall not
be liable for any loss, damage or expense incurred as a result of errors or omissions with respect to any pricing or other information utilized by Custodian hereunder. 

ARTICLE IV 
 OVERDRAFTS
OR INDEBTEDNESS 
 1. If Custodian should in its sole discretion advance funds on behalf of any Fund which results in an overdraft
(including, without limitation, any day-light overdraft) because the Cash held by Custodian in an Account for such Fund shall be insufficient because of a reversal of a conditional credit or the purchase of any currency, or if the Trust is for any
other reason indebted to Custodian with respect to a Fund, such overdraft or indebtedness shall be deemed to be a loan made by Custodian to the Trust for such Fund payable on demand and shall bear interest from the date incurred at a rate per annum
ordinarily charged by Custodian to its institutional customers, as such rate may be adjusted from time to time. In addition, the Trust hereby agrees that Custodian shall to the maximum extent permitted by law have a continuing lien, security
interest, and security entitlement in and to any property, including, without limitation, any investment property or any financial asset, of such Fund at any time held by Custodian for the benefit of such Fund or in which such Fund may have an
interest which is then in Custodian’s possession or control or in possession or control of any third party acting in Custodian’s behalf.

  
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The Trust authorizes Custodian, in its sole discretion, at any time to charge any such overdraft or indebtedness together with interest due thereon against any balance of account standing to such
Funds’ credit on Custodian’s books. For the avoidance of doubt, Custodian may not sell, transfer, lend or otherwise dispose of any assets of a Fund in which Custodian has a lien or security interest, except as permitted hereunder.

 2. If the Trust borrows money from any bank (including Custodian if the borrowing is pursuant to a separate agreement) for investment or
for temporary or emergency purposes using Securities held by Custodian hereunder as collateral for such borrowings, the Trust shall deliver to Custodian a Certificate specifying with respect to each such borrowing: (a) the Series to which such
borrowing relates; (b) the name of the bank, (c) the amount of the borrowing, (d) the time and date, if known, on which the loan is to be entered into, (e) the total amount payable to the Trust on the borrowing date, (f) the Securities to be
delivered as collateral for such loan, including the name of the issuer, the title and the number of shares or the principal amount of any particular Securities, and (g) a statement specifying whether such loan is for investment purposes or for
temporary or emergency purposes and that such loan is in conformance with the Trust’s prospectus. Custodian shall deliver on the borrowing date specified in a Certificate the specified collateral against payment by the lending bank of the
total amount of the loan payable, provided that the same conforms to the total amount payable as set forth in the Certificate. Custodian may, at the option of the lending bank, keep such collateral in its possession, but such collateral shall be
subject to all rights therein given the lending bank by virtue of any promissory note or loan agreement. Custodian shall deliver such Securities as additional collateral as may be specified in a Certificate to collateralize further any
transaction described in this Section. The Trust shall cause all Securities released from collateral status to be returned directly to Custodian, and Custodian shall receive from time to time such return of collateral as may be tendered to it.
In the event that the Trust fails to specify in a Certificate the Series, the name of the issuer, the title and number of shares or the principal amount of any particular Securities to be delivered as collateral by Custodian, Custodian shall not be
under any obligation to deliver any Securities. 
 ARTICLE V 

SALE AND REDEMPTION OF SHARES 

1. Whenever the Trust shall sell any shares issued by the Trust (“Shares”) it shall deliver to Custodian a Certificate or
Instructions, or cause the Trust’s Transfer Agent to provide instructions, specifying the amount of Cash, if any, to be received by Custodian in connection with the sale of such Shares and specifically allocated to an Account for such Fund.
Upon receipt of such Cash, if any, Custodian shall credit the same to an Account in the name of the Fund for which such Cash, if any, is received. 

2. Whenever the Trust desires Custodian to make a payment, if any, out of the Cash held by Custodian hereunder in connection with a redemption
of any Shares, it shall furnish to Custodian a Certificate or Instructions, or cause the Trust’s Transfer Agent to provide instructions specifying the total amount of Cash, if any, to be paid for the redemption of such Shares. Custodian shall
make any such payment and such delivery of Shares, as directed by a Certificate or Instructions or instructions of the Trust’s transfer agent, out of the Cash held in an Account of the appropriate Fund. 

  
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 ARTICLE VI 

PAYMENT OF DIVIDENDS OR DISTRIBUTIONS 

1. Whenever the Trust shall determine to pay a dividend or distribution on Shares it shall furnish to Custodian Instructions or a Certificate
setting forth with respect to the Fund specified therein the date of the declaration of such dividend or distribution, the total amount payable, and the payment date. 

2. Upon the payment date specified in such Instructions or Certificate, Custodian shall pay out of the Cash held for the account of such Fund
the total amount payable to the dividend agent of the Trust specified therein. 
 ARTICLE VII 

CONCERNING CUSTODIAN 
 1.
(a) Custodian shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this Agreement. Except as otherwise expressly provided herein, Custodian shall not be liable for any costs, expenses, damages,
liabilities or claims, including attorneys’ and accountants’ fees (collectively, “Losses”), incurred by or asserted against the Trust, except those Losses arising out of Custodian’s own negligence, bad faith, willful
misfeasance, or reckless disregard of its duties hereunder, or breach of any representation or warranty of Custodian contained in this Agreement. In no event shall the Custodian be liable to the Trust or any third party for special, indirect or
consequential damages, or lost profits or loss of business, arising in connection with this Agreement. The Custodian shall not be liable: (i) for acting in accordance with any Certificate or Oral Instructions actually received by
Custodian and reasonably believed by Custodian to be given by an Authorized Person; (ii) for acting in accordance with such Instructions without reviewing the same; (iii) for holding property in any particular country, including, but
not limited to, Losses resulting from nationalization, expropriation or other governmental actions; regulation of the banking or securities industry; exchange or currency controls or restrictions, devaluations or fluctuations; availability of cash
market conditions which prevent the transfer of property or affect the value of property; (iv) for any Losses due to forces beyond the control of Custodian, including without limitation strikes, work stoppages, acts of war or terrorism,
insurrection, revolution, nuclear or natural catastrophes or acts of God, or interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; (v) for the insolvency of any Depository; or
(vi) for any Losses arising from the occurrence of any event which may affect, limit, prevent or impose costs or burdens on, the transferability, convertibility, or availability of any currency or Composite Currency Unit in any country, and
in no event shall Custodian be obligated to substitute another currency for a currency (including a currency that is a component of a Composite Currency Unit) whose transferability, convertibility or availability has been affected, limited, or
prevented by such law, regulation or event, and to the extent that any such law, regulation or event imposes a cost or charge upon Custodian in relation to the transferability, convertibility, or availability of any cash currency or Composite
Currency Unit, such cost or charge shall be for the account of the Trust, and Custodian may treat any account denominated in an affected currency as a group of separate accounts denominated in the relevant component currencies. 

  
 - 8 - 

 (b) Custodian may enter into subcontracts, agreements and understandings with any Custodian
Affiliate, whenever and on such terms and conditions as it deems necessary or appropriate to perform its services hereunder. No such subcontract, agreement or understanding shall discharge Custodian from its obligations hereunder, and Custodian
shall be liable for the acts or omissions of any such Custodian Affiliate to the same extent as it is liable for such acts or omissions under this Agreement. 

(c) Subject to the limitations set forth in Article VIII below, the Trust, on its own behalf and on behalf of each Fund, as applicable, agrees
to indemnify Custodian and hold Custodian harmless from and against any and all Losses sustained or incurred by or asserted against Custodian by reason of or as a result of any action or inaction, or arising out of Custodian’s performance
hereunder, including reasonable fees and expenses of counsel incurred by Custodian in a successful defense of claims by a Fund; provided however, that the Trust, on its own behalf and on behalf of each Fund, as applicable, shall not indemnify
Custodian for those Losses arising out of Custodian’s own negligence, bad faith, willful misfeasance, reckless disregard for its duties hereunder, or breach of any representation or warranty of Custodian contained in this Agreement. This
indemnity shall be a continuing obligation of the Trust, its successors and assigns, notwithstanding the termination of this Agreement. In no event shall the Trust be liable to the Custodian or any third party for special, indirect or
consequential damages, or lost profits or loss of business, arising in connection with this Agreement. All obligations of the Trust under this Agreement shall apply only on a Fund by Fund basis, and the assets of one Fund shall not be liable
for the obligations of another Fund. 
 (d) [Custodian agrees to indemnify and hold harmless the Trust and each Fund, its officers,
directors and employees and their respective successors and permitted assigns from and against any and all Losses caused by Custodian’s negligence, bad faith, willful misfeasance, reckless disregard for its duties hereunder, or breach of any
representation or warranty of Custodian contained in this Agreement; provided, that the Trust and each Fund shall not be entitled to indemnification hereunder for costs, expenses, damages, liabilities or claims arising out of its negligence, bad
faith, willful misfeasance, reckless disregard of its duties hereunder, or breach of any representation or warranty of the Trust contained in this Agreement.] This indemnity shall be a continuing obligation of Custodian, its successors and
assigns, notwithstanding the termination of this Agreement. 
 (e) A party seeking indemnification hereunder (the “Indemnified
Party”) shall (i) provide prompt notice to the other party of any claim (“Claim”) for which it intends to seek indemnification, (ii) grant control of the defense and for settlement of the Claim to the other party, and (iii) cooperate
with the other party in the defense thereof. The Indemnified Party shall have the right at its own expense to participate in the defense of any Claim, but shall not have the right to control the defense, consent to judgment or agree to the
settlement of any Claim without the written consent of the other party. The party providing the indemnification shall not consent to the entry of any judgment or enter any settlement which (i) does not include, as an unconditional term, the release
by the claimant of all liabilities for Claims against the Indemnified Party or (ii) which otherwise adversely affects the rights of the Indemnified Party. 

  
 - 9 - 

 2. Without limiting the generality of the foregoing, Custodian shall be under no obligation to
inquire into, and shall not be liable for: 
 (b) The legality of the sale or redemption of any Shares, or the propriety of the amount to be
received or paid therefor; 
 (c) The legality of the declaration or payment of any dividend or distribution by the Trust; 

(d) The legality of any borrowing by the Trust; 

(e) The sufficiency or value of any amounts of Cash held in any Special Account in connection with transactions by the Trust; whether any
broker, dealer, futures commission merchant or clearing member makes payment to the Trust of any variation margin payment or similar payment which the Trust may be entitled to receive from such broker, dealer, futures commission merchant or clearing
member, or whether any payment received by Custodian from any broker, dealer, futures commission merchant or clearing member is the amount the Trust is entitled to receive, or to notify the Trust of Custodian’s receipt or non-receipt of any
such payment; or 
 (f) Whether any transactions by the Trust, whether or not involving Custodian, are such transactions as may properly be
engaged in by the Trust. 
 Notwithstanding the foregoing, to the extent the Trust inquires into matters described in Section VII.2(a) or
(b) above, Custodian shall provide reasonable assistance to the Trust in such inquiries at the Trust’s expense. 
 3. Custodian may,
with respect to questions of law specifically regarding an Account, obtain the advice of the Trust’s counsel and shall be fully protected with respect to anything done or omitted by it provided that Custodian acts in good faith without
negligence or willful misfeasance in carrying out such advice, and provided further that, any such action or omission by Custodian is consistent with Custodian’s rights and responsibilities under this Agreement. 

4. Custodian shall have no duty or responsibility to inquire into, make recommendations, supervise, or determine the suitability of any
transactions affecting any Account. 
 5. The Trust, on behalf of each Fund, shall pay to Custodian the fees and charges as may be
specifically agreed upon from time to time and such other fees and charges at Custodian’s standard rates for such services as may be applicable. The Trust shall reimburse Custodian for all costs associated with the transfer of records kept
in connection with this Agreement upon the Trust’s termination of this Agreement. The Trust shall also reimburse Custodian for out-of-pocket expenses which are
a normal incident of the services provided hereunder. 

  
 - 10 - 

 6. Custodian has the right to debit any cash account for any amount payable by the Trust in
connection with any and all obligations of the Trust to Custodian. In addition to the rights of Custodian under applicable law and other agreements, at any time when the Trust shall not have honored any of its obligations to Custodian,
Custodian shall have the right without notice to the Trust to retain or set-off, against such obligations of the Trust, any cash Custodian or a Custodian Affiliate may directly or indirectly hold for the account of the Trust, and any obligations
(whether matured or unmatured) that Custodian or a Custodian Affiliate may have to the Trust in any currency or Composite Currency Unit. Any such asset of, or obligation to, the Trust may be transferred to Custodian and any Custodian Affiliate
in order to effect the above rights. 
 7. The Trust agrees to forward to Custodian a Certificate or Instructions confirming Oral
Instructions by the close of business of the same day that such Oral Instructions are given to Custodian. The Trust agrees that the fact that such confirming Certificate or Instructions are not received or that a contrary Certificate or
contrary Instructions are received by Custodian shall in no way affect the validity or enforceability of transactions authorized by such Oral Instructions and effected by Custodian. If the Trust elects to transmit Instructions through an
on-line communications system offered by Custodian, the Trust’s use thereof shall be subject to the Terms and Conditions attached as Appendix I hereto. If Custodian receives Instructions which appear on their face to have been transmitted
by an Authorized Person via (i) computer facsimile, email, the Internet or other insecure electronic method, or (ii) secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys, the Trust
understands and agrees that Custodian cannot determine the identity of the actual sender of such Instructions and that Custodian shall conclusively presume that such Written Instructions have been sent by an Authorized Person, and the Trust shall be
responsible for ensuring that only Authorized Persons transmit such Instructions to Custodian. If the Trust elects (with Custodian’s prior consent) to transmit Instructions through an on-line communications service owned or operated by a
third party, the Trust agrees that Custodian shall not be responsible or liable for the reliability or availability of any such service. 

8. The books and records pertaining to the Trust which are in possession of Custodian shall be the property of the Trust. Such books and
records shall be prepared and maintained as described in the Investment Company Act of 1940 and the rules thereunder, as if the Trust was subject to such rules. The Trust, or its authorized representatives, shall have access to such books and
records during Custodian’s normal business hours. Upon the reasonable request of the Trust, copies of any such books and records shall be provided by Custodian to the Trust or its authorized representative. Upon the reasonable request
of the Trust, Custodian shall provide in hard copy or on computer disc any records included in any such delivery which are maintained by Custodian on a computer disc, or are similarly maintained. 

9. It is understood that Custodian is authorized to supply any information regarding the Accounts which is required by any law, regulation or
rule now or hereafter in effect. The Custodian shall provide the Trust with any report obtained by the Custodian on the system of internal accounting control of a Depository, and with such reports on its own system of internal accounting
control as the Trust may reasonably request from time to time. 
 10. Custodian shall have no duties or responsibilities whatsoever except
such duties and responsibilities as are specifically set forth in this Agreement, and no covenant or obligation shall be implied against Custodian in connection with this Agreement, except as set forth in this Agreement. 

  
 - 11 - 

 ARTICLE VIII 

LIMITATION OF LIABILITY 

Custodian agrees that, pursuant to Section 3804(a) of the Delaware Statutory Trust Act, the liabilities of each Fund shall be limited such
that (a) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing and relating to this Agreement with respect to a particular Fund shall be enforceable against the assets of that particular Fund only, and not
against the assets of the Trust generally or the assets of any other Fund and (b) none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing and relating to this Agreement with respect to the Trust
generally and any other Fund shall be enforceable against the assets of such particular Fund. 
 ARTICLE IX 

TERMINATION 
 1. The term
of this Agreement shall be one year commencing upon the date hereof and shall automatically renew for additional one-year terms unless either party provides written notice of termination at least ninety (90) days prior to the end of any one year
term or, unless earlier terminated as provided in Section 3 of this Article IX. In the event such notice is given by the Trust, it shall be accompanied by a copy of a resolution of the Sponsor or certificate of the Trust designating a successor
custodian or custodians, each of which shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits. In the event such notice is given by Custodian, the Trust shall, on or before the
termination date, deliver to Custodian a copy of a resolution or certificate of the Trust designating a successor custodian or custodians. In the absence of such designation by the Trust, Custodian may designate a successor custodian which
shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits. Upon the date set forth in such notice this Agreement shall terminate, and Custodian shall upon receipt of a notice of acceptance
by the successor custodian on that date deliver directly to the successor custodian all Cash then owned by the Trust and held by it as Custodian, after deducting all fees, expenses and other amounts for the payment or reimbursement of which it shall
then be entitled. 
 2. If a successor custodian is not designated by the Trust or Custodian in accordance with the preceding Section, the
Trust shall upon the date specified in the notice of termination of this Agreement and upon the delivery by Custodian of all Cash then owned by the Trust be deemed to be its own custodian and Custodian shall thereby be relieved of all duties and
responsibilities pursuant to this Agreement. 
 3. Notwithstanding Section 1 of this Article IX, either party hereto may terminate this
Agreement immediately by sending notice thereof to the other party upon the happening of any 

  
 - 12 - 

 
of the following: (i) a party breaches any material provision of this Agreement, provided that the non-breaching party gives written notice of such breach to the breaching party and the breaching
party does not cure such violation within 90 days of receipt of such notice; (ii) a party commences as debtor any case or proceeding under any bankruptcy, insolvency or similar law, or there is commenced against such party any such case or
proceeding; (iii) a party commences as debtor any case or proceeding seeking the appointment of a receiver, conservator, trustee, custodian or similar official for such party or any substantial part of its property or there is commenced against the
party any such case or proceeding; (iv) a party makes a general assignment for the benefit of creditors; or (v) a party states in any medium, written, electronic or otherwise, any public communication or in any other public manner its inability to
pay debts as they come due. Either party hereto may exercise its termination right under this Section 3 of this Article IX at any time after the occurrence of any of the foregoing events notwithstanding that such event may cease to be
continuing prior to such exercise, and any delay in exercising this right shall not be construed as a waiver or other extinguishment of that right. In addition, the Trust may terminate this Agreement at any time upon ninety (90) days’
prior written notice in the event that the Sponsor determines to liquidate the Trust and terminate its registration with the Securities and Exchange Commission. 

ARTICLE X 
 MISCELLANEOUS

 1. The Trust agrees to furnish to Custodian a new Certificate of Authorized Persons in the event of any change in the then present
Authorized Persons. Until such new Certificate is received, Custodian shall be fully protected in acting upon Certificates or Oral Instructions of such present Authorized Persons. 

2. Any notice or other instrument in writing, authorized or required by this Agreement to be given to Custodian, shall be sufficiently given
if addressed to Custodian and received by it at its offices at One Wall Street, New York, New York 10286, or at such other place as Custodian may from time to time designate in writing. 

3. Any notice or other instrument in writing, authorized or required by this Agreement to be given to the Trust shall be sufficiently given if
addressed to the Trust and received by it at its offices at 685 Third Avenue, 27th Floor, New York, New York 10017, United States of America, or at such other place as the Trust may from time to time designate in writing. 

4. Each and every right granted to either party hereunder or under any other document delivered hereunder or in connection herewith, or
allowed it by law or equity, shall be cumulative and may be exercised from time to time. No failure on the part of either party to exercise, and no delay in exercising, any right will operate as a waiver thereof, nor will any single or partial
exercise by either party of any right preclude any other or future exercise thereof or the exercise of any other right. 
 5. In case any
provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any exclusive jurisdiction, the validity, legality and enforceability of the remaining provisions shall not in any way be affected thereby. This
Agreement may not be 

  
 - 13 - 

 
amended or modified in any manner except by a written agreement executed by both parties, except that any amendment to the Schedule I hereto need be signed only by the Trust and any amendment to
Appendix I hereto need be signed only by Custodian. This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and assigns; provided, however, that this Agreement shall not be assignable by
either party without the written consent of the other. 
 6. This Agreement shall be construed in accordance with the substantive laws of
the State of New York, without regard to conflicts of laws principles thereof. The Trust and Custodian hereby consent to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising
hereunder. The Trust hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that such
proceeding brought in such a court has been brought in an inconvenient forum. The Trust and Custodian each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Agreement. 

7. The Trust hereby acknowledges that Custodian is subject to federal laws, including the Customer Identification Program (CIP) requirements
under the USA PATRIOT Act and its implementing regulations, pursuant to which Custodian must obtain, verify and record information that allows Custodian to identify the Trust. Accordingly, prior to opening an Account hereunder Custodian will
ask the Trust to provide certain information including, but not limited to, the Trust’s name, physical address, tax identification number and other information that will help Custodian to identify and verify the Trust’s identity such as
organizational documents, certificate of good standing, license to do business, or other pertinent identifying information. The Trust agrees that Custodian cannot open an Account hereunder unless and until Custodian verifies the Trust’s
identity in accordance with its CIP. 
 8. The Bank of New York Mellon Corporation is a global financial organization that provides services
to clients through its affiliates and subsidiaries in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration, product
communication, relationship management, storage, compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely in
connection with the Centralized Functions, (i) the Trust consents to the disclosure of and authorizes Custodian to disclose information regarding the Trust (“Customer-Related Data”) to the BNY Mellon Group and to its third-party service
providers who are subject to confidentiality obligations with respect to such information and (ii) Custodian may store the names and business contact information of the Trust’s employees and representatives on the systems or in the records of
the BNY Mellon Group or its service providers. The BNY Mellon Group may aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and notwithstanding anything in this Agreement to the contrary the BNY
Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a particular customer. The Trust confirms that it is authorized
to consent to the foregoing. 

  
 - 14 - 

 9. The Bank of New York Mellon Corporation is a global financial organization that provides
services to clients through its affiliates and subsidiaries in multiple jurisdictions (the “BNY Mellon Group”). The BNY Mellon Group may centralize functions including audit, accounting, risk, legal, compliance, sales, administration,
product communication, relationship management, storage, compilation and analysis of customer-related data, and other functions (the “Centralized Functions”) in one or more affiliates, subsidiaries and third-party service providers. Solely
in connection with the Centralized Functions, (i) the Trust consents to the disclosure of and authorizes Custodian to disclose information regarding the Trust (“Customer-Related Data”) to the BNY Mellon Group and to its third-party service
providers who are subject to confidentiality obligations with respect to such information and (ii) Custodian may store the names and business contact information of the Trust’s employees and representatives on the systems or in the records of
the BNY Mellon Group or its service providers. The BNY Mellon Group may aggregate Customer-Related Data with other data collected and/or calculated by the BNY Mellon Group, and notwithstanding anything in this Agreement to the contrary the BNY
Mellon Group will own all such aggregated data, provided that the BNY Mellon Group shall not distribute the aggregated data in a format that identifies Customer-Related Data with a particular customer. The Trust confirms that it is authorized
to consent to the foregoing. 
 10. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an
original, but such counterparts shall, together, constitute only one instrument. 

  
 - 15 - 

 IN WITNESS WHEREOF, the Trust and Custodian have caused this Agreement to be executed by
their respective officers, thereunto duly authorized, as of the latest date set forth below. 
  

			
	WORLD CURRENCY GOLD TRUST, ON BEHALF OF EACH FUND LISTED ON SCHEDULE II
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Date:	 	
	
	THE BANK OF NEW YORK MELLON
		
	By:	 	  

		
	Title:	 	
		
	Date:	 	

  
 - 16 - 

 SCHEDULE I 

CERTIFICATE OF AUTHORIZED PERSONS 

(The Trust - Oral and Written Instructions) 

The undersigned hereby certifies that he/she is the duly elected and acting
                                         of the
World Currency Gold Trust (the “Trust”), and further certifies that the following officers or employees of the Trust have been duly authorized in conformity with the Trust’s Agreement and Declaration of Trust to deliver Certificates
and Oral Instructions to The Bank of New York Mellon (“Custodian”) pursuant to the Custody Agreement between the Trust and Custodian dated             , 20    
and that the signatures appearing opposite their names are true and correct: 
  

									
	  
	 		 	  
	 		 	  

	Name	 		 	Title	 		 	Signature
					
	  
	 		 	  
	 		 	  

	Name	 		 	Title	 		 	Signature
					
	  
	 		 	  
	 		 	  

	Name	 		 	Title	 		 	Signature
					
	  
	 		 	  
	 		 	  

	Name	 		 	Title	 		 	Signature
					
	  
	 		 	  
	 		 	  

	Name	 		 	Title	 		 	Signature
					
	  
	 		 	  
	 		 	  

	Name	 		 	Title	 		 	Signature
					
	  
	 		 	  
	 		 	  

	Name	 		 	Title	 		 	Signature

 This certificate supersedes any certificate of Authorized Persons you may currently have on file. 

 

							
	[seal]	 		 	By:	 	  

		 		 		 	Title:
				
	Date:	 		 		 	

 SCHEDULE II 

Funds 
 Long Dollar Gold Trust 

 APPENDIX I 

ELECTRONIC SERVICES TERMS AND CONDITIONS 

These Electronic Access Terms and Conditions (the “Terms and Conditions”) set forth the terms and conditions under which The Bank of
New York Mellon Corporation and/or its subsidiaries or joint ventures (collectively, “BNY Mellon”) will provide the entities and its (their) affiliates listed on Schedule A (“You” and “Your”)
with access to and use of BNY Mellon’s electronic information delivery site known as “BNY Mellon Connect” and/or other BNY Mellon-designated access portals (“Electronic Access”). Access to and use of
Electronic Access by You is contingent upon and is in consideration for Your compliance with the terms and conditions set forth below. Electronic Access includes access to BNY Mellon web sites accessible via BNY Mellon Connect and/or other BNY
Mellon-designated access portals (“Sites”), pursuant to which You are able to access products and services provided by BNY Mellon as well as data regarding Your accounts. You may amend Schedule A by delivering a revised
version to BNY Mellon.
 Any particular product or service accessed by You through Electronic Access may be subject to a separate written agreement between
You and BNY Mellon with respect to such products and services (each a “Services Agreement”). In addition, terms and conditions and restrictions with respect to any particular product or service accessed through
Electronic Access (such as privacy and internet security matters), together with any disclaimers related to the specific products or services, may be set forth on the Sites (hereinafter referred to as “Terms of Use”) and are
applicable to such products and services. You agree to the Terms and Conditions. By any of Your Users accessing the Sites, and the products and services available through Electronic Access, You agree to any Terms of Use and acknowledge and
accept any disclaimers and disclosures included on the Sites and the restrictions concerning the use of proprietary data provided by Information Providers (as defined below) that are posted on the Data Terms Web Site (as defined below). For the
avoidance of doubt, the execution of these Terms and Conditions will not alter or amend or otherwise affect any Services Agreement whether such Services Agreement is executed prior to or after the execution of these Terms and Conditions. 

 

	1.	Access Administration: 

  

	 	a.	To facilitate access to Electronic Access, You will furnish BNY Mellon with a written list of the names, and the extent of authority or level of access, of persons You are authorizing to access the Sites, products and
services and to use the Electronic Access (“Authorized Users”) on a read-only basis. In addition, You may also designate Authorized Users who will have authority to enter transactions and provide instructions to BNY
Mellon that cause a change in or have an impact on assets held by BNY Mellon for Your accounts (“Authorized Transactional Users”). Where appropriate, Authorized Users and Authorized Transactional Users are collectively
referred to herein as “Users.” If You wish to allow any third party (such as an investment manager, consultant or third party service provider) or any employee of a third party to have access to Your account information
through Electronic Access and be included as a “User” under these Terms and Conditions, You may designate a third party or employee of a third party as an Authorized User or Authorized Transactional User under these Terms and Conditions
and any such third party or employee of a third party so designated by You (and, if a third party is so designated, any employee of such third party designated by such third party) will be included within the definition of Authorized User,
Authorized Transactional User, and User as appropriate.

  

	 	b.	 Upon BNY Mellon’s approval of Users (which approval will not be unreasonably withheld), BNY Mellon will send
You a user-id, temporary password and, where applicable, a security identification device for each User. You will be responsible for providing to Users the user-ids, temporary passwords and, where applicable, secure identification
devices. You will ensure that any User receiving a secure identification device returns such device immediately following the termination of the User’s authorization to access the products and services for which the secure identification
device was provided to such User. You are solely responsible for Users’ access to Electronic Access, and You and Users are solely responsible for the confidentiality of the user-ids and passwords and secure identification devices that are
provided to them and will remain responsible for each secure identification device until it is returned to BNY Mellon. You, on behalf of You and Your affiliates, acknowledge and agree that, BNY Mellon will have no duty or obligation to verify
or confirm the actual identity of the person who accessed Electronic Access using a validly issued user-id and password (and, where applicable, security identification device) or that the

	 	
person who accessed Electronic Access using such validly issued user-id and password (and, where applicable, security identification device) is, in fact, a User (whether an Authorized User or an
Authorized Transactional User). 

  

	 	c.	You shall not, and shall not permit any User or third party to, breach or attempt to breach any security measures used in connection with Electronic Access or Proprietary Software. Any attempt to circumvent or
penetrate any application, network or other security measures used by BNY Mellon or its suppliers in connection with Electronic Access is strictly prohibited. 

  

	 	d.	You are also solely responsible for ensuring that all Users comply with these Terms and Conditions and any Terms of Use included on the Sites, the Service Agreement for each product or services accessed through the
Sites and their associated services and all applicable terms and conditions, restrictions on the use of such products and services and data obtained through the use of Electronic Access. BNY Mellon reserves the right to prohibit access or
revoke the access of any User to Electronic Access whom BNY Mellon determines has violated or breached these terms and conditions or any Terms of Use on a Site accessed by the User, including the Data Terms Web Site (as defined below), or whose
conduct BNY Mellon reasonably determines may constitute a criminal offense, violate any applicable local, state, national, or international law or constitute a security risk for BNY Mellon, a BNY Mellon’s third party supplier (“BNY
Mellon’s Supplier”), BNY Mellon’s clients or any Users of Electronic Access. BNY Mellon may also terminate access to all Users following termination of all Services Agreements between You and BNY Mellon.

  

	2.	Proprietary Software: Depending upon the products and services You elect to access through Electronic Access, You may be provided software owned by BNY Mellon or licensed to BNY Mellon by a BNY
Mellon Supplier (“Proprietary Software”). You are granted a limited, non-exclusive, non-transferable license to install the Proprietary Software on Your authorized computer system (including mobile devices registered
with BNY Mellon) and to use the Proprietary Software solely for Your own internal purposes in connection with Electronic Access and solely for the purposes for which it is provided to You. You and Your Users may make copies of the Proprietary
Software for backup purposes only, provided all copyright and other proprietary information included in the original copy of the Proprietary Software are reproduced in or on such backup copies. You shall not reverse engineer, disassemble,
decompile or attempt to determine the source code for, any Proprietary Software. Any attempt to circumvent or penetrate security of Electronic Access is strictly prohibited. 

 

	3.	Use of Data:

  

	 	a.	Electronic Access may include information and data that is proprietary to the providers of such information or data (“Information Providers”) or may be used to access Sites that include such
information or data from Information Providers. This information and data may be subject to restrictions and requirements which are imposed on BNY Mellon by the Information Providers and which are posted on
http://www.bnymellon.com/products/assetservicing/vendoragreement.pdf or any successor web site of which You are provided notice from time to time (the “Data Terms Web Site”). You will be solely responsible for ensuring
that Users comply with the restrictions and requirements concerning the use of proprietary data that are posted on the Data Terms Web Site.

  

	 	b.	You consent to BNY Mellon, its affiliates and BNY Mellon’s Suppliers disclosing to each other and using data received from You and Users and, where applicable, Your third parties in connection with these Terms and
Conditions (including, without limitation, client data and personal data of Users) (1) to the extent necessary for the provision of Electronic Access; (2) in order for BNY Mellon and its affiliates to meet any of their obligations under these Terms
and Conditions to provide Electronic Access; or (3) to the extent necessary for Users to access Electronic Access. 

  

	 	c.	In addition, You permit BNY Mellon to aggregate data concerning Your accounts with other data collected and/or calculated by BNY Mellon. BNY Mellon will own such aggregated data, but will not distribute the
aggregated data in a format that identifies You or Your data. 

  

	4.	Ownership and Rights: 

  

	 	a.	Electronic Access, including any database, any software (including for the avoidance of doubt, Proprietary Software) and any proprietary data, processes, scripts, information, training materials, manuals or
documentation made available as part of the Electronic Access (collectively, the “Information”), are the exclusive and confidential property of BNY Mellon and/or BNY Mellon’s suppliers. You may not use or disclose the
Information except as expressly authorized by these Terms and Conditions. You will, and will cause Users and Your third parties and their users, to keep the Information confidential by using the same care and discretion that You use with
respect to Your own confidential information, but in no event less than reasonable care. 

	 	b.	The provisions of this paragraph will not affect the copyright status of any of the Information which may be copyrighted and will apply to all Information whether or not copyrighted.

 

	 	c.	Nothing in these Terms and Conditions will be construed as giving You or Users any license or right to use the trade marks, logos and/or service marks of BNY Mellon, its affiliates, its Information Providers or BNY
Mellon’s Suppliers.

  

	 	d.	Any Intellectual Property Rights and any other rights or title not expressly granted to You or Users under these Terms and Conditions are reserved to BNY Mellon, its Information Providers and BNY Mellon’s
Suppliers. “Intellectual Property Rights” includes all copyright, patents, trademarks and service marks, rights in designs, moral rights, rights in computer software, rights in databases and other protectable lists of information,
rights in confidential information, trade secrets, inventions and know-how, trade and business names, domain names (including all extensions, revivals and renewals, where relevant) in each case whether registered or unregistered and applications for
any of them and the goodwill attaching to any of them and any rights or forms of protection of a similar nature and having equivalent or similar effect to any of them which may subsist anywhere in the world. 

 

	5.	Reliance:

  

	 	a.	BNY Mellon will be entitled to rely on, and will be fully protected in acting upon, any actions or instructions associated with a user-id or a secure identification device issued to a User until such time BNY Mellon
receives actual notice in writing from You of the change in status of the User and receipt of the secure identification device issued to such User. You acknowledge that all commands, directions and instructions, including commands, directions and
instructions for transactions issued by a User are issued at Your sole risk. You agree to accept full and sole responsibility for all such commands, directions and instructions and that BNY Mellon, will have no liability for, and you hereby
release BNY Mellon from, any losses, liabilities, damages, costs, expenses, claims, causes of action or judgments (including attorneys fees and expenses) (collectively “Losses”) incurred or sustained by you or any other party
in connection with or as a result of BNY Mellon’s reliance upon or compliance with such commands, directions and instructions.

  

	 	b.	All commands, directions and instructions involving a transaction entered by Authorized Transactional User will be treated as an authorized instruction under the applicable Services Agreement(s) between You and BNY
Mellon covering accounts, products and services and products provided by BNY Mellon with respect to which Electronic Access is being used whether such Services Agreement is executed prior to or after the execution of these Terms and Conditions.

  

	6.	Disclaimers: 

  

	 	a.	Although BNY Mellon uses reasonable efforts to provide accurate and up-to-date information through Electronic Access, BNY Mellon, its Content Providers and Information Providers make no warranties or representations
under these Terms and Conditions as to accuracy, reliability or comprehensiveness of the content, information or data accessed through Electronic Access. Without limiting the foregoing, some of the content on Electronic Access may be provided
by sources unaffiliated with BNY Mellon (“Content Providers”) and by Information Providers. For that content BNY Mellon is a distributor and not a publisher of such content and has no control over it. Information
provided by Information Providers has not been independently verified by BNY Mellon and BNY Mellon makes no representation as to the accuracy or completeness of the content or information provided. Any opinions, advice, statements, services,
offers or other information given or provided by Content Providers and Information Providers (including merchants and licensors) are those of the respective authors of such content and not that of BNY Mellon. BNY Mellon will not be liable to
You or Users for such content or information in any way nor for any action taken in reliance on such information nor for direct or indirect damages resulting from the use of such information. For purposes of these Terms and Conditions, all
information and data, including all proprietary information and materials and all client data, provided to You through Electronic Access are provided on an “AS-IS”, “AS AVAILABLE” basis.

 

	 	b.	BNY Mellon makes no guarantee and does not warrant that Electronic Access or the information and data provided through the Electronic Access are or will be virus-free or will be free of viruses, worms, Trojan horses or
other code with contaminating or destructive properties. BNY Mellon will employ commercially reasonable anti-virus software to its systems to protect its systems against viruses. 

	 	c.	Some Sites accessed through the use of Electronic Access may include links to websites provided by parties that are not affiliated with BNY Mellon (“Third Party Websites”). BNY Mellon will
not be liable to any person for the content found on such Third Party Websites. BNY Mellon will not be responsible for Third Party Websites that collect information from parties who visit their web sites through links on the Sites. BNY
Mellon will not be liable or responsible for any loss suffered by any person as a result of their use of any Third Party Websites that are linked to the BNY Mellon Sites. 

 

	 	d.	BNY Mellon retains complete discretion and authority to add, delete or revise in whole or in part Electronic Access, including its Sites, and to modify from time to time any Proprietary Software provided in conjunction
with the use of Electronic Access and/or any of the Sites. To the extent reasonably possible, BNY Mellon will provide notice of such modifications. BNY Mellon may terminate, immediately and without advance notice, and without right of
cure, any portion or component of Electronic Access or the Sites. 

  

	 	e.	TO THE FULLEST EXTENT PERMITTED BY LAW, THERE IS NO WARRANTY OF MERCHANTABILITY, NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, NO WARRANTY OF QUALITY AND NO WARRANTY OF TITLE OR NONINFRINGEMENT. THERE IS NO
OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, REGARDING ELECTRONIC ACCESS, THE SITES, ANY PROPRIETARY SOFTWARE, INFORMATION, MATERIALS OR CLIENT DATA. 

  

	 	f.	Notwithstanding the prior paragraph, The Bank of New York Mellon or an Affiliate designated by it will defend You and pay any amounts agreed to by BNY Mellon in a settlement and damages finally awarded by a court of
competent jurisdiction, in an action or proceeding commenced against You based on a claim that Electronic Access or the Proprietary Software infringe plaintiff(s)’s patent, copyright, or trade secret, provided that You (i) notify BNY
Mellon promptly of any such action or claim (except that the failure to so notify BNY Mellon will not limit BNY Mellon’s obligations hereunder except to the extent that such failure prejudices BNY Mellon); (ii) grant BNY Mellon or its
designated Affiliate full and exclusive authority to defend, compromise or settle such claim or action; and (iii) provide BNY Mellon or its designated Affiliate all assistance reasonably necessary to so defend, compromise or settle. The
foregoing obligations will not apply, however, to any claim or action arising from (i) use of the Proprietary Software Information or Electronic Access in a manner not authorized under these Terms and Conditions, the Terms of Use, or the Data Terms
Web Site; or (ii) use of the Proprietary Software or Electronic Access in combination with other software or services not supplied by BNY Mellon. 

  

	7.	Limitation of Liability: 

  

	 	a.	IN NO EVENT WILL BNY MELLON, BNY MELLON’S SUPPLIERS OR ITS CONTENT PROVIDERS OR INFORMATION PROVIDERS BE LIABLE TO YOU OR ANYONE ELSE UNDER THESE TERMS AND CONDITIONS FOR ANY LOSSES, LIABILITIES, DAMAGES,
COSTS OR EXPENSES INCLUDING BUT NOT LIMITED TO, ANY DIRECT DAMAGES, CONSEQUENTIAL DAMAGES, RELIANCE DAMAGES, EXEMPLARY DAMAGES, INCIDENTAL DAMAGES, SPECIAL DAMAGES, PUNITIVE DAMAGES, INDIRECT DAMAGES OR DAMAGES FOR LOSS OF PROFITS, GOOD WILL,
BUSINESS INTERRUPTION, USE, DATA, EQUIPMENT OR OTHER INTANGIBLE LOSSES (EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES) THAT RESULT FROM (1) THE USE OF OR INABILITY TO USE ELECTRONIC ACCESS (2) THE CONSEQUENCES OF ANY DECISION MADE
OR ACTION OR NON-ACTION TAKEN BY YOU OR ANY OTHER PERSON, OR FOR ANY ERRORS BY YOU IN COMMUNICATING SUCH INFORMATION; (3) THE COST OF SUBSTITUTE ACCESS SERVICES; OR (4) ANY OTHER MATTER RELATING TO THE CONTENT OR ACCESS THROUGH ELECTRONIC
ACCESS. BNY MELLON WILL NOT BE LIABLE FOR LOSS, DAMAGE OR INJURY TO PERSONS OR PROPERTY ARISING FROM ANY USE OF ANY PRODUCT, INFORMATION, PROCEDURE, OR SERVICE OBTAINED THROUGH ELECTRONIC ACCESS. BNY MELLON WILL NOT BE LIABLE FOR ANY LOSS,
DAMAGE OR INJURY RESULTING FROM VOLUNTARY SHUTDOWN OF THE SERVER, ELECTRONIC ACCESS OR ANY OF THE SITES TO ADDRESS TECHNICAL PROBLEMS, COMPUTER VIRUSES, DENIAL-OF-SERVICE MESSAGES OR OTHER SIMILAR PROBLEMS.

 

	 	b.	 BNY MELLON’S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY UNDER THESE TERMS AND CONDITIONS FOR ANY DISPUTE OR
CLAIM RELATED TO THESE TERMS OF USE, ELECTRONIC ACCESS OR SITES, IS AS FOLLOWS: IF YOU REPORT A MATERIAL MALFUNCTION IN ELECTRONIC ACCESS THAT BNY MELLON IS ABLE TO REPRODUCE, 

	 	
BNY MELLON WILL USE REASONABLE EFFORTS TO CORRECT THE MALFUNCTION. IF BNY MELLON IS UNABLE TO CORRECT THE MALFUNCTION, YOU MAY CEASE ALL USE OF ELECTRONIC ACCESS AND RECEIVE A REFUND OF ANY FEES
PAID IN ADVANCE, SPECIFICALLY FOR ELECTRONIC ACCESS, APPLICABLE TO PERIODS AFTER CESSATION OF SUCH USE. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR DAMAGES, IN SUCH JURISDICTIONS LIABILITY IS LIMITED TO THE
FULLEST EXTENT PERMITTED BY LAW. 

  

	 	c.	The limitation of liability set forth in this Limitation of Liability section and in other provisions in these Terms and Conditions is in addition to any limitation of liability provisions contained in any Services
Agreements and will not supersede or be superseded by limitation of liability provisions contained in such Services Agreements, whether executed prior to or after the execution of these Terms and Conditions, except to the extent specifically set
forth in such other Services Agreements containing a reference to these Terms and Conditions. 

  

	8.	Indemnification: 

  

	 	a.	You agree to indemnify, protect and hold BNY Mellon, BNY Mellon’s Suppliers, Content Providers and Information Providers harmless from and against all liability, claims damages, costs and expenses, including
reasonable attorneys’ fees and expenses, resulting from a claim that arises out of (i) any breach by You or Users of these Terms and Conditions, the Terms of Use or the Data Terms Web Site and (ii) any person obtaining access to Electronic
Access through You or Users or through use of any password, user-id or secure identification device issued to a User, whether or not You or a User authorized such access. For the avoidance of doubt, and by way of illustration and not by way of
limitation, the forgoing indemnity is applicable to disputes between the parties, including the enforcement of these Terms and Conditions. The rights and remedies conferred hereunder will be cumulative and the exercise or waiver of any such
right or remedy will not preclude or inhibit the exercise of additional rights or remedies or the subsequent exercise of such right or remedy. 

  

	 	b.	The indemnity provided in herein is in addition to any indemnity and other remedies contained in any Services Agreements and will not supersede or be superseded by such Services Agreements, whether executed prior to or
after the execution of these Terms and Conditions, except to the extent specifically set forth in such other Services Agreements and expressly stating an intent to modify this Terms and Conditions. Nothing contained herein will, or be deemed
to, alter or modify the rights and remedies of BNY Mellon as set forth in the Services Agreements. 

  

	9.	Choice of Law and Forum: Unless otherwise agreed and specified herein, these Terms and Conditions are governed by and construed in accordance with the laws of the State of New York,
without giving effect to any principles of conflicts of law; You expressly and irrevocably agree that exclusive jurisdiction and venue for any claim or dispute with BNY Mellon, its employees, contractors, officers or directors or relating in any way
to Your use of Electronic Access resides in the state or federal courts in New York City, New York; and You further irrevocably agree and expressly and irrevocably consent to the exercise of personal jurisdiction in those courts over any action
brought with respect to these Terms and Conditions. BNY Mellon and You hereby waive the right of trial by jury in any action arising out of or related to the BNY Mellon or these Terms and Conditions. 

 

	10.	Term and Termination: 

  

	 	a.	Either BNY Mellon or You may terminate these Terms and Conditions and the Electronic Access upon thirty (30) days’ written notice to the other party.

 

	 	b.	In the event of any breach of the provisions of these Terms and Conditions or a breach by any Authorized User of the Terms of Use or the restrictions and requirements concerning the use of Information Providers’
proprietary data that are posted on the Data Terms Web Site, the non-breaching party may terminate these Terms and Conditions and the Electronic Access immediately upon written notice to the breaching party if any breach remains uncured after ten
(10) days’ written notice of the breach is sent to the breaching party.

  

	 	c.	BNY Mellon may immediately terminate access through an Authorized User’s user-id and password and may, at its discretion, also terminate access by an Authorized User, without right of cure, in the event of an
unauthorized use of an Authorized User’s user-id or password, or where BNY Mellon believes there is a security risk created by such access.

  

	 	d.	BNY Mellon may terminate, without advance notice, Your access or the access of Users to any portion or component of Electronic Access or the Sites in the event a BNY Mellon Supplier, Content Provider or Information
Provider prohibits BNY Mellon from permitting You or Users to have access to their information or services. 

	 	e.	Promptly upon receiving or giving notice of termination, You will notify all Users of the effective date of the termination. 

  

	 	f.	Upon termination of Your access to Electronic Access, You shall return of manuals, documentation, workflow descriptions and the like that are in Your possession or under Your control and all security identification
devices. 

  

	 	g.	The Reliance, Disclaimers, Limitation of Liability Indemnification and confidentiality provisions of the Terms and Conditions (and other provision of these Terms and Conditions containing disclaimers, limitation of
liability and indemnification) shall survive the termination of these Terms and Conditions. 

 You represent and warrant to BNY Mellon that
these Terms and Conditions and the indemnity contained herein have been duly authorized and accepted, that You have full authority to enter into these Terms and Conditions, both for the entities at Schedule A and for any affiliate with Electronic
Access, and that these Terms and Conditions constitute a binding obligation enforceable in accordance with its terms. 

 SCHEDULE A to APPENDIX I 

Affiliates of Client

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