Document:

Futures and Options Customer Account Agreement.

 Exhibit 10.7 
 Booklet 1 of 2* 
 BARCLAYS CAPITAL INC. 

FUTURES 

AND 

OPTIONS 

ACCOUNT APPLICATION 
 (FOR INSTITUTIONS THAT ARE ELIGIBLE 
 CONTRACT PARTICIPANTS ONLY) 

*Please see Booklet 2, Risk Disclosure Statements, 
 delivered herewith 
 May 2012 

Single Customer Version 

 INSTRUCTIONS FOR OPENING AN ACCOUNT 

WITH BARCLAYS CAPITAL INC. 

I. Reviewing Booklet 2 (Risk Disclosure Statements) 
 Please review carefully the information contained in Booklet 2 and retain the entire booklet for your records. There are no signatures required in Booklet 2. 

II. Completing Booklet 1 (Account Application and Agreements) 
 After you have read Booklet 1, please read and complete all applicable sections of Booklet 1 as indicated below. Send the completed Booklet 1 back to Barclays Capital Inc. in its entirety —please do
not detach or remove any pages. In addition, please enclose a copy of your most recent audited/unaudited financial statements. 
 Booklet 1
contains the following agreements and forms: 
  

	 	•	 	 Futures and Options Account Application (Pages 1 through 3) – This Application must be completed and signed by all Customers.

  

	 	•	 	 Futures and Options Customer Account Agreement (Pages A-1 through A-12) – This Agreement must be read, acknowledged, initialed where
appropriate and signed by all Customers. 

  

	 	•	 	 Appendix Of Additional Terms For Registered Investment Companies (B-1 and B-2) – one of the two options must be selected and the Form must
be executed in all cases. 

  

	 	•	 	 Hedge Account Election (Page B-3) – This Form must be signed and completed to indicate the type of Account(s) required by Customer.

  

	 	•	 	 Liquidation Election (Page B-4) – This Form must be signed and completed if the Customer wishes to make a selection as to whether its
positions should be liquidated in the event of Barclays’ insolvency. 

  

	 	•	 	 Plan Asset Representation (Page B-5) – One of the three options must be selected and the Form must be executed in all cases.

  

	 	•	 	 Employee Benefit Plan Authorization (Pages B-6 through B-8) – If Customer is an employee benefit plan (i.e. has checked the second box in
the Plan Asset Representation Form), this Form must be completed.  

  

	 	•	 	 Plan Asset Fund Authorization (Pages B-9 through B-11) – If Benefit Plan Investors hold at least 25% of a class of equity interests of
Customer (i.e. has checked the third box in the Plan Asset Representation Form), this Form must be completed.  

  

	 	•	 	 Discretionary Trading Authorization (Page B-12) – This Authorization must be completed if there will be a third-party advisor trading the
account. 

  

					
		  	i	  	May 2012

	 	•	 	 Representations of Advisor (Page B-13) – If there will be a third-party advisor trading the account, this Form must be completed by
the third-party advisor. In addition, if the third-party advisor is registered as an investment adviser, please enclose a copy of the advisor’s most recent Form ADV. 

 

	 	•	 	 Corporate Certification and Authorization (Pages B-14 and B-15) – If Customer is a corporation, this Form must be completed.

  

	 	•	 	 Partnership Certification and Authorization (Pages B-16 and B-17) – If Customer is a partnership, this Form must be completed.

  

	 	•	 	 Trust Certification and Authorization (Pages B-18 and B-19) – If Customer is a trust, this Form must be completed.

  

	 	•	 	 Limited Liability Company Certification and Authorization (Pages B-20 and B-21) – If Customer is a limited liability company, this
Form must be completed. 

  

	 	•	 	 Certificate of Incumbency (Page B-22) – This certificate must be completed by an authorized person of Customer (e.g., a
corporate secretary) and must include the signatures of all persons signing the Futures and Options Account Application, the Futures and Options Customer Account Agreement and the foregoing Certification and Authorization forms.

  

	 	•	 	 Tax Forms and Instructions (Tax Certification Packet) – Form W-9 (for U.S. Customers) or Forms W-8 (for non-U.S. Customers), as
applicable, must be completed by all Customers. Should you have any questions regarding these Forms, please contact your Barclays account representative or consult your tax advisor. 

This Booklet contains documents which you are required to complete, sign and return to Barclays Capital Inc. before an account can be opened in
your name. 

  

					
		  	ii	  	May 2012

 FUTURES AND OPTIONS 

ACCOUNT APPLICATION 
 (For Institutions That Are Eligible Contract Participants Only) 
 Please
complete all of the following information 
 (attach additional pages if necessary) 

Capitalized terms used but not defined in this Futures and Options 
 Account Application shall have the meanings ascribed to them in 
 the Futures and
Options Customer Account Agreement 
 I. Mailing Address for All Notices and Statements 

 

			
	Name of Account:	  	 Nuveen Long/Short Commodity Total Return Fund
 Care of: Nuveen Commodities Asset Management, LLC, Manager and Commodity Pool Operator

		
	Mailing Address:	  	 333 West Wacker Drive
 Chicago,
IL 60606
 Attn: Kevin J. McCarthy

		
	Telephone:	  	(312) 917-7700         Facsimile: (312) 917-7952
		
	E-mail Address:	  	
		
	Principal Business or Occupation of Customer:	  	Commodity pool
		
	Jurisdiction and Date of Organization/Incorporation:	  	Delaware statutory trust organized on May 25, 2011
		
	Tax I.D. No.:	  	45-2470177
		
	Mailing Address for Duplicate Statements:	  	 Gresham Investment Management LLC
 67 Irving Place—12th Floor
 New York, NY 10003

		
	State Street Operational Contact Name:	  	Jennifer Vaudo
		
	Telephone:	  	(617) 662-0197         Facsimile: (617) 662-0266
		
	E-mail Address:	  	javaudo@statestreet.com
		
	Gresham Operational Contact Name:	  	Joshua Sucsy (accounting)
		
	Telephone:	  	(212) 598-3172         Facsimile: (212) 984-1439
		
	E-mail Address:	  	jsu@greshamllc.com

  

					
		  	1 of 3	  	May 2012

			
	Gresham Operational Contact Name:	  	Michael Miller (trading)
		
	Telephone:	  	(212) 984-1421 Facsimile: (212) 984-1412
		
	E-mail Address:	  	mtm@greshamllc.com
		
	Legal/Compliance Contact Name:	  	Kevin J. McCarthy
		
	Telephone:	  	(312) 917-6899 Facsimile: (312) 917-7952
		
	E-mail Address:	  	Kevin.McCarthy@nuveen.com

 II. Bank Reference 
  

			
	Bank Name:	  	State Street
		
	Bank Address:	  	 State Street Global Services

US Investment Services
 2 Avenue de
Lafayette—5th Floor

Boston, MA 02111

		
	Account Number:	  	 Account title: Nuveen Long/Short Commodity Total Return Fund
 ABA #: 011000028
 DDA #: 10110757
 Reference: NAM LONG/SHORT COMMOD TR GIM, NBMJ

 III. Financial Statements. 
 Please enclose a copy of Customer’s most recent audited/unaudited financial statements. 

IV. Customer Designation (check all that apply) 
  

											
						
		  	Mutual Fund	 		  	Corporation	 		  	Partnership
						
	x	  	Commodity Pool	 		  	Bank	 		  	Trust
						
		  	Insurance Company	 		  	Limited Liability Company (LLC)	 		  	Limited Liability Partnership (LLP)
						
		  	Omnibus	 		  	ERISA Account	 		  	Other                         

 V. Information Regarding Third Party Advisors 
 Are you giving discretionary authority over your account to a third party advisor? 
 Yes x            No  ̈ 
 If yes, you must complete the Discretionary Trading Authorization on page B-12 of this booklet, and the Advisor must sign the Representations of Advisor, found on page B-13 of this booklet. 

  

					
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 VI. Other Reporting Information 
 List any other persons or entities having a financial interest of 10% or more in this Account: 
  

			
	Name:	  	Name:
	Legal Address:	  	Legal Address:
	Telephone Number:	  	Telephone Number:
	Taxpayer ID#:	  	Taxpayer ID#:
	Percentage Interest:	  	Percentage Interest:

  

			
	Name:	  	Name:
	Legal Address:	  	Legal Address:
	Telephone Number:	  	Telephone Number:
	Taxpayer ID#:	  	Taxpayer ID#:
	Percentage Interest:	  	Percentage Interest:

 Customer represents that the foregoing information (including the attached financial statements) is true
and correct. Customer agrees to promptly notify Barclays Capital Inc. of any material adverse change to the foregoing. 
  

			
	 Nuveen Long/Short Commodity Total Return Fund
	 	
	(Name of Customer—Please Print)
	
	 By:   Nuveen Commodities Asset Management, LLC, the Fund’s manager and commodity pool
operator

		
	/s/ Gifford R.
Zimmerman                            	 	October 30,
2012                                
	(Signature)	 	(Date)
		
	 Gifford R. Zimmerman, Vice President and Assistant Secretary
	 	
	(Name & Title – Please Print)	 	

  

					
		  	3 of 3	  	May 2012

 BARCLAYS CAPITAL INC. 

FUTURES AND OPTIONS CUSTOMER ACCOUNT AGREEMENT 
 This Futures and Options Customer Account Agreement (“Agreement”), dated October 30, 2012, between Barclays Capital Inc., a registered futures commission merchant
(“FCM”) and broker/dealer, and Nuveen Long/Short Commodity Total Return Fund, a Delaware statutory trust (“Customer”), shall govern all transactions that Barclays Capital Inc. or any of its affiliates (collectively,
“Barclays”) or agents may execute, clear and/or carry on Customer’s behalf for the purchase or sale of commodities, commodity futures, security futures, option and forward contracts thereon and interests therein (including
exchange-for-physical (“EFPs”), exchange-for-swap (“EFSs”), and exchange-for-risk (“EFRs”) transactions) (collectively, “Contracts”) and any accounts, including reactivated
accounts, carried by Barclays on behalf and in the name of Customer (each, an “Account”). It is understood that Customer acts through its manager, Nuveen Commodities Asset Management, LLC (“NCAM” or “Manager”), a
registered commodity pool operator, which has engaged Gresham Investment Management LLC (“Gresham” and “Advisor”), a registered commodity trading advisor, to manage Customer’s investments in Contracts, and in that capacity
Gresham is acting as an agent of the Customer and not as a principal. 
 1. APPLICABLE LAW. 

Each Account and all Contracts, transactions and agreements in respect of each Account shall be subject to (i) the Commodity Exchange
Act (“CEA”) and all rules and interpretations of the Commodity Futures Trading Commission (“CFTC”) and the National Futures Association (“NFA”); (ii) the constitution, by-laws, rules,
regulations, policies, procedures, interpretations and customs of any applicable U.S. or non-U.S. board of trade, exchange, contract market, trading facility or execution facility, including, without limitation, an electronic trading system,
facility or service, or clearing organization (each, a “Transaction Facility”) or of any clearing firm or self-regulatory agency or organization; and (iii) any other laws, rules, interpretations, customs or usage of the trade
applicable to Customer’s trading of Contracts. All such laws, rules, regulations, policies, procedures, interpretations, customs and usage, as in force from time to time, are hereinafter collectively referred to as “Applicable
Law”. 
 2. GENERAL AGREEMENTS. Customer acknowledges and agrees that: 

(a) Barclays’ Responsibility. Barclays is responsible solely for the execution, carrying and/or clearing of Contracts in each
Account in accordance with the terms of this Agreement. Neither Barclays nor any managing director, officer or employee of Barclays is acting as a fiduciary or advisor in respect of Customer or any Contract or Account. Barclays shall have no
responsibility for compliance with any law or regulation governing the conduct of any fiduciary or advisor of Customer that interacts with Barclays on behalf of the Customer in connection to this Agreement. Barclays shall have no responsibility for
Customer’s compliance with any law or regulation governing or affecting Customer’s trading hereunder. 
 (b)
Information and Positions. Any information concerning the market or matters incidental to the operation of any of the Accounts or the nature of any of the Contracts provided by Barclays is solely incidental to the conduct of Barclays’
business as an FCM. Barclays makes no representation as to the accuracy, completeness or reliability of any such information. Barclays and its managing directors, officers and employees may take, hold or liquidate positions in, or provide such
information to other customers with respect to, Contracts that are the subject of such information furnished by Barclays to Customer, and such other positions and/or information may be inconsistent with the positions held by or information given to
Customer. 

  

					
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 Single Customer Version

 (c) Limitation of Barclays’ Liability. Barclays shall not be liable to Customer
(i) in connection with the performance or non-performance by any Transaction Facility or by any other third party (excluding Barclays Capital Inc.’s affiliates or floor brokers employed by Barclays or its affiliates but including, without
limitation, floor brokers that are not employed by Barclays or its affiliates, executing agents, banks, clearing firms and other depositories) in respect of any Contract or other property of Customer; (ii) as a result of any prediction or
information concerning the market made or given by a representative of Barclays, whether or not made or given at the request of Customer; (iii) as a result of any delay in the performance or non-performance of any of Barclays’ obligations
hereunder directly or indirectly caused by the occurrence of any contingency beyond Barclays’ control including, but not limited to, the unscheduled closure of a Transaction Facility, clearing firm or other depository or delays in the
transmission of orders due to breakdowns or failures of transmission or communication facilities, Transaction Facilities or other systems, it being understood that Barclays shall be excused from performance of its obligations hereunder for such
period of time as is reasonably necessary after such occurrence to remedy the effects therefrom; (iv) as a result of any action taken by or on behalf of Barclays or its floor brokers and agents to comply with Applicable Law; (v) for any
acts or omissions of those neither employed nor supervised by Barclays; or (vi) any losses or damages suffered by Customer resulting directly or indirectly from government action, war, strike or national disaster. Neither Barclays nor its
managing directors, officers or employees shall be responsible for any loss, liability, damage or expense except to the extent that it is finally judicially determined that such loss, liability, damage or expense arises directly from its gross
negligence or willful misconduct. In no event will Barclays, its managing directors, officers or employees be liable to Customer for consequential, incidental or special damages under or relating to this Agreement. 

(d) Security Interest. Except to the extent proscribed by Applicable Law not subject to waiver, all Contracts, funds, margin,
performance bond, premium, currencies, securities, credit balances and other property from time to time held by, to the order of or on behalf of Barclays or held for the benefit of the Customer by Barclays including, without limitation, by any
Transaction Facility or clearing firm through which Contracts are executed, carried and/or cleared and/or positions are held by Barclays, on behalf of the Customer, and all proceeds thereof (collectively, “Collateral”) are hereby
pledged to Barclays, and shall be subject to a general lien and a continuing, perfected first security interest in Barclays’ favor to secure any and all of Customer’s indebtedness or other obligations and/or liabilities owed to Barclays.
Customer agrees to execute any documents reasonably required by Barclays for the perfection or negotiation of such general lien or security interest. Customer hereby grants Barclays the right, in accordance with Applicable Law, to pledge, repledge,
transfer, hypothecate, rehypothecate, loan or invest any of the cash Collateral, including without limitation, utilizing the cash Collateral to purchase securities pursuant to repurchase agreements or reverse repurchase agreements with any
party, in each case without notice to Customer. In addition, Customer hereby grants Barclays the right, in accordance with Applicable Law, to pledge, repledge, transfer, hypothecate, or rehypothecate any of the non-cash Collateral to a
Transaction Facility or clearing firm through which transactions are executed, carried and/or cleared, in each case without notice to Customer. Notwithstanding the foregoing, in the event that the Customer posts Collateral in respect of a Contract
that is not eligible to be posted to the relevant Transaction Facility, Customer agrees that Barclays shall have the right to borrow, pledge, repledge, transfer, hypothecate, rehypothecate, loan or invest Collateral in accordance with Applicable
Law. Unless mutually agreed otherwise, Barclays shall pay to Customer the interest or income earned from the investment or utilization of such Collateral at a rate agreed to by the parties hereto. 

(e) Conclusiveness of Reports and Objections. All written reports related to Contracts in the Accounts, including but not limited
to confirmations, purchase and sale statements and correction notices (collectively, “Reports”), shall be conclusive and binding on Customer unless Customer notifies Barclays of any objection prior to the opening of trading on the
Transaction Facility on or through which such Contract occurred on the business day following the day on which Customer receives such Report, except for monthly statements, which shall be conclusive and binding on Customer unless Customer notifies
Barclays of any objection within ten (10) days of the receipt thereof. Nothing herein, however, shall prevent Barclays upon discovery of any error or omission, from correcting a Report. All oral communications related to Contracts in the
Accounts with a natural person who is reasonably believed by Barclays to be associated with Gresham, NCAM or the Customer shall be conclusive and binding on Customer unless Customer notifies Barclays of any objection at the time of such
communication. 

  

					
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 Single Customer Version

 (f) Deliveries. If Customer intends to make or take delivery under any futures
Contract, Customer agrees to notify Barclays not later than the time specified by Barclays and in any event at least (i) with respect to long positions, two (2) business days prior to first notice day of the applicable Transaction
Facility, and (ii) with respect to short positions, two (2) business days prior to the last trading day for the Contract in question. With respect to any deliverable Contract, Customer shall ensure Barclays holds sufficient funds in
Customer’s Account to fulfill Customer’s obligations to make or take delivery and shall furnish Barclays with property deliverable by Customer under any Contract in accordance with Barclays’ directions. If Customer fails to comply
with any of the foregoing obligations, Barclays may, at its discretion and upon Barclays’ good faith effort to notify Customer, liquidate and/or roll forward to a later delivery month any open Contracts, make or receive delivery of any
commodities or instruments for Customer’s Account and risk, and in such manner and on such terms as Barclays in its reasonable discretion deems necessary or appropriate. Customer shall remain fully liable for, and Customer’s Account will
be debited for, any loss, costs, expenses and liabilities incurred by Barclays in connection with such Contracts and for any remaining debit balance in Customer’s Account. Barclays acknowledges that Customer intends to settle all of its
obligations under futures and options contracts carried in Customer’s Account(s) by closing such contracts with an opposite and offsetting trade or by cash settlement where such contracts are assigned a delivery notice, except in the case of
delivery where the rules of the exchange or clearing house or applicable law prohibit cash settlement. 
 (g) Options Exercise
and Allocation Procedure. If Customer intends to exercise any option Contract, Customer agrees to notify Barclays not later than the time specified by Barclays and in any event at least one hour prior to the latest notification time specified by
the relevant Transaction Facility. If Customer fails to comply with any of the foregoing, Barclays may, at its discretion and upon Barclays’ good faith effort to notify Customer, exercise or allow the expiration of any options for
Customer’s Account and risk, and in such manner and on such terms as Barclays in its discretion deems necessary or appropriate. Customer shall remain fully liable for, and Customer’s Account will be debited for, any loss, costs, expenses
and liabilities incurred by Barclays in connection with such Contracts and for any remaining debit balance in Customer’s Account. Customer understands and acknowledges that certain option Contracts sold by Customer may be subject to exercise at
any time. Exercise notices received by Barclays with respect to option Contracts sold by Barclays’ customers shall be allocated among customers (including Customer) pursuant to a random allocation procedure, and Customer shall be bound by any
such allocation made to it. Information regarding Barclays’ random allocation procedure is available upon request. Such notices may be allocated to Customer after the close of trading on the day on which such notices have been allocated to
Barclays by the applicable Transaction Facility. In the event of the allocation of an exercise notice(s) to Customer, Barclays shall use reasonable efforts to notify Customer promptly. Barclays shall have no responsibility for any action it takes or
fails to take with respect to any option Contract (and, without limiting the foregoing, shall have no responsibility to exercise any option Contract purchased by Customer) unless and until Barclays receives acceptable and timely instructions from
Customer indicating the action to be taken. 
 (h) Acceptance of Orders; Position Limits. Barclays shall have the right,
upon prior notice to Customer, whenever in its discretion it deems it appropriate, (i) to limit the number of open Contracts (net or gross) that Barclays will at any time execute, clear and/or carry for Customer, (ii) to require Customer
to reduce open positions carried with Barclays, and (iii) to refuse the acceptance of orders to establish new positions. Barclays shall immediately notify Customer of its rejection of any order. Unless specified by Customer, Barclays may
designate the Transaction Facilities (including, without limitation, any electronic trading systems or facilities) on or through which it will attempt to execute orders. Customer shall comply at all times, including throughout the trading day, with
all position limit rules imposed by Applicable Law. 
 (i) Liquidation of Offsetting Positions. Barclays shall liquidate
any Contract for which an offsetting order is entered by Customer, unless Customer instructs Barclays not to liquidate such Contract and to maintain the offsetting Contracts as open positions, provided, however, that Barclays shall not be obligated
to comply with any such instructions given by Customer if Customer fails to provide Barclays with any representations, documentation or information reasonably requested by Barclays or if, in Barclays’ reasonable judgment, any failure to
liquidate such offsetting Contracts against each other would result in a violation of Applicable Law. 
 (j) Reliance on
Instructions. Barclays and its managing directors, officers and employees shall be entitled to rely, and shall not be liable for any reliance, on any instruction, notice or communication that it reasonably believes to have originated from
Customer or Customer’s duly authorized agent (including a third-party advisor, if any), and Customer shall be bound thereby. 

  

					
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 Single Customer Version

 (k) Use of Clearing Brokers. Customer authorizes Barclays in its discretion to select
for and on behalf of Customer floor brokers and execution agents and, on Transaction Facilities where Barclays is not a clearing member, unaffiliated clearing brokers, which will act as brokers and agents of Customer in connection with Contracts for
the Account(s). Such Contracts may be cleared through accounts maintained by Barclays in its own name with one or more clearing brokers. 
 (l) Give-Ups. Absent a separate written agreement with Customer with respect to give-ups, Barclays, in its discretion, may, but shall not be obligated to, accept from other brokers Contracts
executed by such brokers for Customer and to be given up to Barclays for clearance or carrying in an Account. 
 (m) Financial
and Other Information. Customer shall provide to Barclays such financial and other information regarding Customer as Barclays may from time to time reasonably request. Customer authorizes Barclays to contact such banks, financial institutions
and credit agencies as Barclays shall deem appropriate from time to time for verification of such information. Customer shall notify Barclays promptly of any material adverse change to its condition, financial or otherwise. Customer acknowledges and
agrees that Barclays may provide financial and other information regarding Customer to any Transaction Facility, clearing firm or self-regulatory agency or organization upon the request of any such entity and as permitted by Applicable Law.

 (n) Currency Exchange Risk. Customer shall bear all risk and cost in respect of the conversion of currencies incident
to Contracts effected on behalf of Customer pursuant hereto. Unless otherwise specified in the Reports sent to Customer with respect to its Contracts and Accounts, all margin deposits in connection with any Contracts, and any debits or credits to
Customer’s Account(s), shall be stated in U.S. Dollars. By placing an order in a Contract settled in a particular currency (the “Contract Currency”), Customer agrees to convert to the Contract Currency funds sufficient to meet the
applicable margin requirement. Any conversions of currency shall be at a rate of exchange reasonably determined by Barclays based on prevailing money market rates of exchange for such currencies. 

(o) Consent to Recording. Each party (i) consents to the monitoring or recording, at any time and from time to time, by the
other party of any and all communications between officers or employees of the parties, with or without the use of an automatic tone warning device (ii) waives any further notice of such monitoring or recording, and (iii) agrees to notify
(and, if required by law, obtain the consent of) its officers and employees with respect to such monitoring or recording. The parties agree that any such recording may be submitted in evidence to any court or in any proceeding for the purpose of
establishing any matters pertinent to this Agreement or any Contract. 
 (p) Inactive Accounts. Customer acknowledges that
Barclays may from time to time place accounts in which there is no trading on inactive status and Customer agrees to provide whatever reasonably requested information Barclays may require upon Customer’s request to reactivate any such inactive
Account. 
 3. CUSTOMER REPRESENTATIONS. 
 Customer represents, warrants and agrees as of the date hereof and on the date of each Contract executed hereunder that: 
 (a) Customer has full right, power and authority to enter into this Agreement, and the person executing this Agreement on behalf of Customer is authorized to do so; 

(b) this Agreement is binding on Customer and enforceable against Customer in accordance with its terms subject to applicable bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors rights and remedies generally, and subject to general principles of equity; 
 (c) Customer is an “eligible contract participant,” as such term is defined in Section 1a of the CEA; 
 (d) Customer may lawfully establish and open the Account(s) for the purpose of effecting purchases and sales of Contracts through Barclays; 

  

					
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 Single Customer Version

 (e) Contracts entered into pursuant to this Agreement will not violate any applicable law
(including any Applicable Law), judgment, order or agreement to which Customer or its property is subject or by which it or its property is bound; 
 (f) Customer is authorized under its organizational and other governing documents, as amended from time to time, to trade in Contracts, as instructed by Customer’s account controller, and hereby
expressly waives any ultra vires or similar defense it may have; 
 (g) all information provided by Customer in the
Futures and Options Account Application (which application and the information contained therein hereby is incorporated into this Agreement) is true, correct, complete and accurate in all material respects; 

(h) it will not rely on any communication (written or oral) of Barclays as investment advice or as a recommendation to enter into any
Contract, and no such communication (written or oral) received from Barclays shall be deemed to be an assurance or guarantee as to the expected results of the Contract; 
 (i) Customer is acting for its own account, is capable of assessing the merits of, understanding (on its own behalf or through independent professional advice) and assuming, and understands, accepts and
assumes, the terms, conditions and risks of each Contract, and will make its own independent decisions to enter into Contracts and as to whether each Contract is appropriate or proper for it based on Customer’s own judgment and upon advice from
such advisors as it has deemed necessary; 
 (j) Barclays shall have no discretionary authority, power or control over any
decisions made by or on behalf of Customer in respect of the Account, regardless of whether Customer relies on the information provided by Barclays in making any such decisions; 

(k) Barclays is not acting as a fiduciary, foundation manager, commodity pool operator, commodity trading advisor or investment adviser in
respect of the Accounts opened by Customer; 
 (l) except as disclosed in writing to Barclays, Customer is acting solely as
principal and not as agent for any other party and no other customer has any interest in the Account; 
 (m) if Customer’s
Account is managed by one or more trading advisors, (i) Customer and such trading advisor(s) agree and acknowledge that Barclays is not a party to and has not reviewed nor will be charged with knowledge of any of the terms of any applicable
investment management agreement, organizational document or any other similar such document (each, an “Authority Document”), and Barclays will assume that any investment decisions made by the Customer or by the trading advisor(s) on
behalf of the Customer are authorized by the terms of the Authority Documents, and (ii) Customer has provided such trading advisor(s) with specific discretionary authority (or, by this document, provides them with such specific authority) to
(x) enter into Contracts, (y) make or receive deliveries in respect of Contracts on Customer’s behalf and (z) transfer cash or other assets into and out of Customer’s Account; 

(n) Customer has reviewed the registration requirements of the CEA, CFTC and NFA relating to commodity pool operators and commodity
trading advisors and has determined that it and any person that has trading authority or control over its Account are in compliance with such requirements; 
 (o) Customer has made no changes to this form of Agreement, or any other form of agreement, authorization, tax form or other document relating to this Agreement or the Account(s), provided by Barclays,
except as agreed to by Barclays; 
 (p) Barclays is relying on the representations and warranties of Customer contained herein in
entering into this Agreement and opening the Account and Customer will immediately notify Barclays of any changes to the accuracy thereof; 

  

					
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 Single Customer Version

 (q) Customer expressly agrees to waive any and all claims, rights or causes of action which
Customer has or may have against Barclays, its managing directors, officers and/or employees arising in whole or in part, directly or indirectly, out of any act or omission of a party who refers or introduces Customer to Barclays or who places
orders on behalf of Customer, except claims, rights or causes of action arising out of, or caused, in whole or in part, by Barclays gross negligence or willful misconduct; and 
 (r) No person or entity other than Customer has, nor during the term of this Agreement will have, any ownership interest of ten percent or more in any Account, and no person other than Customer and its
trading advisor, if any, has or will have any control over any Account, except as otherwise disclosed to Barclays in writing. 

Barclays represents, warrants and agrees as of the date hereof that: 

(a) Barclays has full right, power and authority to enter into this Agreement, and the person executing this Agreement on behalf of
Barclays is authorized to do so; 
 (b) Barclays has full power and authority to perform its obligations under this Agreement;

 (c) This Agreement is binding on Barclays and enforceable against Barclays in accordance with its terms subject to applicable
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors rights and remedies generally, and subject to general principles of equity; 

(d) Barclays and its principals have all governmental, regulatory and exchange licenses and approvals and have effected all filings and
registrations with governmental and regulatory agencies required to conduct their business or required to perform their obligations under this Agreement; 
 (e) Barclays is and shall remain in material compliance with all laws, rules, regulations and orders of any government, governmental agency or self-regulatory organization required for it to perform its
obligations under this Agreement and the matters to be discharged by it with respect thereto,; 
 4. PAYMENT OBLIGATIONS OF
CUSTOMER. With respect to every Contract purchased, sold or cleared for the Account, Customer shall pay Barclays upon demand (which demand may be written or oral): 
 (a) all brokerage charges, give-up fees, commissions and service fees as Barclays may from time to time charge; 
 (b) all Transaction Facility, clearing firm or NFA fees or charges, or any other transaction fees, regulatory fees and service charges incurred with respect to each Contract; 

(c) any tax imposed on such Contracts by any competent taxing authority; 

(d) any debit balance or deficiency in the Account; 
 (e) interest on any debit balances remaining in the Account at a rate as may be mutually agreed upon from time to time, together with Barclays’ costs and reasonable attorneys’ fees incurred in
collecting any such debit balance; and 
 (f) any other amounts owed by Customer to Barclays with respect to the Account, any
Contracts carried therein or transactions undertaken in connection therewith. 
 Any and all payments required to be made by
Customer hereunder shall be made by wire transfer, in immediately available funds, to an account designated by Barclays, unless otherwise agreed by Barclays. 

  

					
		  	A-6	  	 May 2012
 Single Customer Version

 5. MARGIN AND OTHER CONTRACT OBLIGATIONS. 

(a) With respect to every Contract purchased, sold or cleared for the Account, Customer shall make, or cause to be made, all applicable
initial margin, variation margin, intra-day margin and premium payments, and perform all other obligations attendant to Contracts or positions in such Contracts, as such payments or performance may be required by Barclays consistent with Applicable
Law or as such payments or performance may be required of Barclays by any member of any Transaction Facility clearing such Contract on Barclays’ behalf. Customer acknowledges and agrees that Barclays has no obligation to establish uniform
margin requirements among products or customers and margins required by Barclays may exceed the minimum margin requirements of the applicable Transaction Facility and be increased or decreased from time to time at the reasonable discretion of
Barclays, without advance notice to Customer. 
 (b) Requests for margin deposits and/or premium payments may, at Barclays’
election, be communicated to Customer orally, telephonically, electronically, or in writing. Customer margin deposits and/or premium payments shall be made to such omnibus customer account(s) as directed by Barclays, and shall be in the form of
cash. 
 (c) Upon the Customer’s request, Barclays shall return to the Customer any excess Collateral in the Account(s)
representing gains on Customer’s transactions, other than de minimis amounts, which shall be no more than $25,000, as soon as reasonably practicable but no later than the next business day following receipt thereof with respect to cash, but
only to the extent that Barclays’ return of the Collateral to the Customer does not create a shortfall with respect to margin, premiums or any other amounts due to Barclays under this Agreement. 

6. CUSTOMER DEFAULT AND BARCLAYS’ REMEDIES. 
 (a) Each of the following events shall be a default (“Default”) by Customer under this Agreement: 
 (i) Customer breaches or fails to timely and fully perform any of its obligations hereunder or otherwise in respect of any Contract; 

(ii) Customer fails to deposit or maintain required margin, fails to pay required premiums or fails to make any other
undisputed payments required hereunder or otherwise in respect of any Contract; 
 (iii) if Customer is an
employee benefit plan, the termination of Customer or the filing by Customer of a notice of intent to terminate with a governmental agency or body, or the receipt of a notice of intent to terminate Customer from a governmental agency or body, or the
inability of Customer to pay benefits under the relevant employee benefit plan when due; 
 (iv) any
representation made by Customer or Customer’s advisor or account controller (if any) is not or ceases to be accurate and complete in any material respect; 
 (v) a case in bankruptcy is commenced or a proceeding under any insolvency or other law for the protection of creditors or for the appointment of a receiver, trustee or similar officer is filed by or
against Customer and such case is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution thereof; 
 (vi) Customer makes or proposes to make any arrangement or composition for the benefit of its creditors, or Customer or any of its property is subject to any agreement, order or judgment providing for
Customer’s dissolution, liquidation or reorganization, or for the appointment of a receiver, trustee or similar officer for Customer or its property; 
 (vii) Customer makes an admission in writing that it is insolvent or is unable to pay its debts when they mature or the suspension by Customer of its usual business or any material portion thereof; and

 (viii) any warrant or order of attachment is issued against any Account or a judgment is levied against any
Account. 

  

					
		  	A-7	  	 May 2012
 Single Customer Version

 (b) Upon the occurrence of a Default, or if Barclays , after consultation with Customer or
its account controller or agent, if practicable, reasonably considers it necessary for its protection to exercise any of the following remedies, then Barclays shall have the right, in addition to any other remedy available at law or equity to
Barclays, all without demand for margin and without notice or advertisement (except as provided in Section 6(c) below), to: 
 (i) close out any or all of Customer’s open Contracts, including, without limitation, through EFPs, EFSs or EFRs. For the purposes of this provision, Customer expressly authorizes Barclays to act as
broker for Customer or as principal opposite Customer with respect to such EFP, EFS or EFR transactions and to execute such physical commodity, swap or over-the-counter transactions and documents on behalf of Customer as may be reasonably necessary
to effect such EFP, EFS or EFR transactions. Customer recognizes that such EFP, EFS or EFR transactions are not competitively executed by open outcry on a Transaction Facility but will be executed at the market price then available to Barclays and
in accordance with Applicable Law; 
 (ii) cancel any or all of Customer’s outstanding orders; 

(iii) treat any or all of Customer’s obligations due Barclays as immediately due and payable; 

(iv) set off any obligations of Barclays to Customer against any obligations of Customer to Barclays; 

(v) sell any Collateral and/or set off and apply any Collateral or the proceeds of the sale of any Collateral to satisfy
any obligations of Customer to Barclays; 
 (vi) borrow or buy any Contracts, options, securities or other
property for any Account; 
 (vii) terminate any or all of Barclays’ obligations for future performance to
Customer; and/or 
 (viii) take such other or further action as Barclays in its discretion reasonably considers
necessary or appropriate under the circumstances. 
 (c) So long as Barclays’ rights or position would not be jeopardized
thereby, Barclays shall make a good faith effort to notify Customer of its intention to take any of the actions specified in (i) through (viii) of Section 6(b) above before taking any such action. Barclays shall not be deemed to have
breached any obligation to Customer if no such notice is given. Any sale or purchase hereunder may be made in any commercially reasonable manner. In all cases a prior demand, margin call or notice of any kind shall not be considered a waiver of
Barclays’ right to take any action provided for herein. Customer shall be liable for the payment of any deficiency remaining in each Account after any such action is taken, together with interest thereon. 

7. TERMINATION. 
 (a) This Agreement may be terminated by Customer or Barclays by written notice to the other. Such termination shall be of no effect in relation to any orders placed or Contracts executed prior to such
notice. In the event of such notice, Customer shall promptly, and in any event no later than 20 business days following such notice, either close out open positions in the Account(s) or transfer such open positions to another FCM. 

(b) Upon satisfaction by Customer of all liabilities to Barclays arising hereunder (including payment obligations with respect to the
transfer of Contracts to another FCM), Barclays shall, without imposing any additional charges or penalties, promptly transfer to the FCM specified by Customer all Contracts, cash, securities and other property then held for any Account. The
representations, warranties and indemnities contained in this Agreement shall survive any termination of this Agreement. 
 8.
INDEMNIFICATION. Customer hereby agrees to pay, indemnify and hold Barclays, its directors, officers and employees harmless from and against any and all loss, liability, damage, cost, penalty, fine, tax or expense (including, without
limitation, reasonable attorneys’ fees, costs of collection and any cost incurred in 

  

					
		  	A-8	  	 May 2012
 Single Customer Version

 
successfully defending against any claim asserted by Customer) (collectively, “Losses”) incurred by Barclays or such other persons in connection with the Account and/or any
Contracts or positions established or maintained therein, except to the extent it is judicially determined that such Losses resulted directly as a result of Barclays’ gross negligence or willful misconduct. Such indemnification shall include,
without limitation, Losses with respect to (i) any action taken or not taken by Barclays and its managing directors, officers or employees in reliance upon any instruction, notice or communication that it reasonably believes to have originated
from Customer or Customer’s duly authorized agent (including a third-party advisor, if any), and (ii) the exercise of Barclays’ default remedies under Section 6 of this Agreement. 

9. GOVERNING LAW, JURISDICTION AND WAIVER OF JURY TRIAL. 
 (a) THE CONSTRUCTION, VALIDITY, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO CONFLICTS OF LAW PRINCIPLES).

 (b) TO THE EXTENT NOT OTHERWISE REQUIRED UNDER APPLICABLE LAW, ANY DISPUTES ARISING UNDER THIS AGREEMENT OR ANY
TRANSACTION IN CONNECTION HEREWITH SHALL BE RESOLVED IN A COURT OF LAW LOCATED IN THE STATE OF NEW YORK, BOROUGH OF MANHATTAN OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK. THE PARTIES TO THIS AGREEMENT HEREBY SUBMIT
TO THE JURISDICTION OF SUCH COURTS AND AGREE THAT VENUE BEFORE SUCH COURTS IS PROPER. CUSTOMER CONSENTS TO THE SERVICE OF PROCESS BY THE MAILING TO CUSTOMER OF COPIES OF THE APPROPRIATE COURT FILING BY CERTIFIED MAIL TO THE ADDRESS OF CUSTOMER AS IT
APPEARS ON THE BOOKS AND RECORDS OF BARCLAYS, SUCH SERVICE TO BE EFFECTIVE THREE DAYS AFTER MAILING. CUSTOMER HEREBY WAIVES IRREVOCABLY ANY IMMUNITY TO WHICH IT MIGHT OTHERWISE BE ENTITLED IN ANY ARBITRATION, ACTION AT LAW, SUIT IN EQUITY OR ANY
OTHER PROCEEDING ARISING OUT OF OR BASED ON THIS AGREEMENT OR ANY TRANSACTION IN CONNECTION HEREWITH. 
 (c) CUSTOMER
HEREBY WAIVES A TRIAL BY JURY IN ANY ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION IN CONNECTION THEREWITH. 
 10. CROSS TRADE CONSENT. The Customer hereby authorizes Barclays, and its managing directors, officers, employees and floor brokers acting on Customer’s behalf in any transaction for the
Account, without prior notice to Customer, to take the other side of Customer’s transaction, subject to the transaction being executed at the prevailing price in accordance with the regulations of the applicable Transaction Facility and the
rules and regulations of the CFTC. 
 11. MISCELLANEOUS. 

(a) Severability. If any provision of this Agreement is or at any time becomes inconsistent with or invalid under any present or
future Applicable Law, such inconsistent or invalid provision shall be deemed to be superseded or modified to conform to such Applicable Law, but in all other respects this Agreement shall continue in full force and effect. 

(b) Successors; Binding Effect. This Agreement shall be binding on and inure to the benefit of each of the parties and their
respective successors and assigns. This Agreement and the obligations of Customer hereunder may not be assigned or delegated without the prior written consent of Barclays. Customer agrees that Barclays shall have the right to transfer or assign this
Agreement (and the Account) (i) to any successor entity or if required by Applicable Law or a regulator or (ii) if Barclays makes such transfer or assignment pursuant to a consolidation or amalgamation with, or merger with or into, or a
transfer of all or substantially all of its assets to, another entity, in each case without obtaining the consent of Customer. Other than the circumstances referenced above, Barclays will not assign this agreement to another party without
Customer’s written consent, such consent not to be unreasonably withheld. 

  

					
		  	A-9	  	 May 2012
 Single Customer Version

 (c) Entire Agreement. This Agreement and the attached appendices, consents,
certifications and authorizations constitute the entire agreement between the parties with respect to the subject matter hereof and supersedes any prior agreements between the parties as to the subject matter hereof. 

(d) Amendments or Waiver. No provision of this Agreement shall in any respect be waived, modified or amended unless such waiver,
modification or amendment is in writing and signed by authorized representatives of each party hereto. 
 (e) Notices and
Reports. Except as otherwise expressly provided in this Agreement, all Reports, instructions, notices or other communications shall be given orally, unless requested to be in writing. All oral or written Reports, instructions, notices or other
communications shall be directed as follows: 
  

	 	(i)	if to Barclays: 

 Barclays
Capital Inc. 
 745 Seventh Avenue 
 New York, New York 10019 
 Attention: Futures On-Boarding Team 

Telephone: (212) 526-1200 
 Any customer complaints or legal notices shall be directed to “Attention: Futures Compliance Officer.” 
  

	 	(ii)	if to Customer, at the address, telephone, email or facsimile number as indicated on the Futures and Options Account Application or such other address, telephone, email
or facsimile number provided to Barclays by Customer from time to time. 

  

	 	(iii)	if to an Advisor, at the address, telephone, email or facsimile number indicated on the Futures and Options Account Application or such other address, telephone, email
or facsimile number provided to Barclays by such Advisor from time to time. 

 Written Reports and/or notices
shall be deemed to have been given by a party hereto (a) if personally delivered to the other party, on the date of such delivery, (b) if sent by confirmed facsimile transmission, on the date of such confirmed facsimile transmission,
(c) if sent via email or other electronic media, to Kevin McCarthy, Managing Director, Assistant General Counsel, Nuveen Investments (Kevin.McCarthy@nuveen.com); Jennifer Vaudo, Vice President, State Street Global Services
(javaudo@statestreet.com); Michael Miller, Trade Operations Manager, Gresham Investment Management, LLC (mtm@greshamllc.com); or such other person(s) as shall be designated by Customer in writing on the date that such notice or Report was sent, or
(d) if sent by certified mail, return receipt requested, postage prepaid, on the third business day after the mailing date. 
 The Customer hereby consents to the delivery of all Reports, instructions, notices or other communications via email to the person(s) designated in the immediately preceding paragraph with such consent to
remain effective for the duration of the Agreement unless Customer withdraws such consent via written notice to Barclays. Customer acknowledges that e-mail messages are not secure and may contain computer viruses or other defects, may not be
accurately replicated on other systems, or may be intercepted, interfered with, or deleted without the knowledge of the sender or the intended recipient. Barclays makes no warranties in relation to these matters. Barclays reserves the right to
intercept, monitor and retain e-mail messages to and from its systems as permitted by Applicable Law. 
 (f) No Waiver. No
failure on the part of Barclays or Customer to exercise and no delay in exercising, any contractual right will operate as a waiver or modification thereof, nor will any single or partial exercise by Barclays or Customer of any right preclude any
other or future exercise thereof. 

  

					
		  	A-10	  	 May 2012
 Single Customer Version

 (g) Rights and Remedies Cumulative. All rights and remedies under this Agreement as
amended and modified from time to time are cumulative and not exclusive of any rights or remedies which may be available at law or otherwise. 
 [signature page to follow] 

  

					
		  	A-11	  	 May 2012
 Single Customer Version

 12. CUSTOMER ACKNOWLEDGMENTS. (PLEASE INITIAL APPROPRIATE CLAUSES BELOW.)

 (a) CUSTOMER HEREBY ACKNOWLEDGES THAT IT HAS RECEIVED AND UNDERSTANDS THE FOLLOWING DISCLOSURE STATEMENT PRESCRIBED BY THE
CFTC AND FURNISHED HEREWITH: 
  

			
	/s/ GRZ	  	 Risk Disclosure Statement for Futures and Options

	Initial	  	(Appendix A to CFTC Rule 1.55(c) transcribed in full on pages 1-3 of Booklet 2 – Risk Disclosure Statements)

 (b) If Customer (i) maintains one or more other accounts (such as a securities, commodities,
cash or margin account) at Barclays and (ii) wants to permit Barclays to transfer funds from such accounts without obtaining specific instructions in each case, Customer should initial the following section: 

 

			
	  

Initial
	    	Customer hereby specifically authorizes Barclays, until further notice in writing, to transfer any excess funds from/to Customer’s regulated commodity account,
whether a segregated account or a secured account, (i) to/from any other account that Customer maintains with Barclays, if in Barclays’ judgment such transfer is necessary to avoid or reduce a margin call or to reduce a debit balance in
such other account, or (ii) to Barclays in order to satisfy any obligation of Customer to Barclays. Barclays will notify Customer in writing of any transfer of funds made pursuant to this authorization within a reasonable time after each
transfer.

 IN WITNESS WHEREOF, the Customer has executed this Agreement as of the date set forth below. 

Customer 
  

							
	Account Name: Nuveen Long/Short Commodity Total Return Fund	 		 	By: Nuveen Commodities Asset Management, LLC, the Fund’s manager
				
	Date: October 30, 2012	 		 	By:	 	/s/ Gifford R. Zimmerman
		 		 	Print Name:	 	Gifford R. Zimmerman
		 		 	Title:	 	Chief Administrative Officer

  

			
	Barclays Capital Inc.
		
	By:	 	/s/ Vijay Pant
	Print Name:	 	Vijay Pant
	Title:	 	Managing Director

 PLEASE BE CERTAIN YOU HAVE INITIALED OR CHECKED ALL APPROPRIATE ELECTIONS ABOVE AND THAT YOU HAVE FULLY COMPLETED
THE ABOVE SIGNATURE BLOCK. 

  

					
		  	A-12	  	 May 2012
 Single Customer Version

 APPENDIX OF ADDITIONAL TERMS FOR REGISTERED INVESTMENT COMPANIES 

Customer hereby represents and warrants, by checking the appropriate box, that: 

 

	 	x	Customer IS NOT an investment company registered under the Investment Company Act of 1940. (The following additional terms do not apply to the Account. Please
sign below and proceed to page B-3.) 

  

	 	 ̈	Customer IS an investment company registered under the Investment Company Act of 1940. (The following additional terms apply to the Account.)

 Capitalized terms used but not defined in this Appendix have the meaning set forth in the Agreement. The following terms shall
supplement those contained in the Agreement with respect to the Accounts and shall control in the event other terms of the Agreement are inconsistent with those contained in this Appendix. 
 This Appendix is intended to ensure Barclays’ and the Customer’s compliance with the Investment Company Act of 1940, as amended (the “Act”) and the rules and regulations
thereunder, particularly Rule 17f-6 under the Act and any successor rule. Rule 17f-6 permits the Customer to place and maintain cash, securities, and similar investments with the FCM in amounts necessary to effect the Customer’s transactions in
Exchange-Traded Futures Contracts and Commodity Options subject to certain conditions that are expressed below. To the extent that Rule 17f-6 is modified or amended, the following terms and conditions contained in this Appendix shall be deemed to be
automatically amended to be in compliance with such modified or amended rule without any further action required by the parties hereto. 
 (1) Barclays, as FCM, hereby covenants and agrees that the manner in which Barclays maintains the Customer’s assets shall be subject to the following: 

 

	 	•	 	 Barclays shall comply with the segregation requirements of Section 4d(2) of the CEA and the rules thereunder or, if applicable, the secured amount
requirements of Rule 30.7 under the CEA; 

  

	 	•	 	 Barclays, as appropriate to the Customer’s transactions and in accordance with the CEA and the rules and regulations thereunder (including 17 CFR
Part 30), may place and maintain the Customer’s assets to effect the Customer’s transactions with another FCM, a Clearing Organization, a U.S. or Foreign Bank, or a member of a foreign board of trade, and shall obtain an acknowledgment, as
required under Rules 1.20(a) or 30.7(c) under the CEA, as applicable, that such assets are held on behalf Barclays’ customers in accordance with the provisions of the CEA; 

 

	 	•	 	 Barclays shall promptly furnish copies of or extracts from Barclays’ records or such other information pertaining to the Customer’s assets as
the Securities and Exchange Commission through its employees or agents may request; and 

  

	 	•	 	 Upon the Customer’s request, any gains on the Customer’s transactions, other than de minimis amounts, will be transferred by Barclays
to the Customer by the next business day following receipt thereof. 

  

					
		  	B-1	  	 May 2012
 Single Customer Version

 (2) Customer hereby represents, warrants, agrees and covenants that: 

 

	 	•	 	 The Customer will place and maintain cash, securities, and similar investments with Barclays, as FCM, in amounts necessary to effect the
Customer’s transactions in Exchange-Traded Futures Contracts and Commodity Options; 

  

	 	•	 	 If the custodial arrangements under the Agreement as supplemented by this Appendix no longer meet the requirements set forth in Rule 17f-6 under the
Act, the Customer shall withdraw its assets from the Account as soon as reasonably practicable; 

  

	 	•	 	 The Customer is and shall remain in compliance with the Act with respect to its execution, delivery and performance of the Agreement and the Contracts.
Specifically, the Customer will at all times be in compliance with Section 18 of the Act with respect to its Contracts or otherwise will segregate assets for, and/or cover, its exposures under its Contracts in accordance with prevailing
interpretations or guidance by the Securities and Exchange Commission under Section 18 of the Act; and 

  

	 	•	 	 To the extent the Customer relies on subchapter M of the Internal Revenue Code of 1986 for its tax status, the Customer will, with respect to the
Contracts, remain in compliance with the requirements of subchapter M at all times Contract is outstanding. The Customer shall provide prompt written notice to Barclays if its tax status under subchapter M, if applicable, is or will be jeopardized
by any Contract(s). 

 “Clearing Organization” means a clearing organization as defined in Rule 1.3(d) under
the CEA and includes a clearing organization for a foreign board of trade. 
 “Exchange-Traded Futures Contracts and Commodity
Options” means commodity futures contracts, options on commodity futures contracts, and options on physical commodities traded on or subject to the rules of: (a) any contract market designated for trading such transactions under the
CEA and the rules thereunder; or (b) any board of trade or exchange outside the United States, as contemplated in Part 30 under the CEA. 

“FCM” means any person that is registered as a futures commission merchant under the CEA and that is not an affiliated person of
Customer/Fund or an affiliated person of such person. 
 “U.S. or Foreign Bank” means a bank, as defined in section 2(a)(5) of
the Act, or a banking institution or trust company that is incorporated or organized under the laws of a country other than the United States and that is regulated as such by the country’s government or a agency thereof. 

 

	
	Nuveen Long/Short Commodity Total Return Fund
	(Name of Customer – Please Print)

  

	By:	Nuveen Commodities Asset Management, LLC, the Fund’s manager and commodity pool operator 

 

	
	/s/ Gifford R. Zimmerman
	(Signature)

  

	
	Gifford R. Zimmerman, Chief Administrative Officer
	(Name & Title – Please Print)

  

	
	October 30, 2012
	(Date)

  

					
		  	B-2	  	 May 2012
 Single Customer Version

 HEDGE ACCOUNT ELECTION 

Please check the appropriate box(es) for the type of Account(s) that Customer will require. 

 

	 	 ̈	Hedging Account 

  

	 	x	Speculative Account 

 To
the extent Customer has checked the Hedging Account box, Customer represents that each Contract that Customer instructs Barclays to place in the Hedging Account will represent a bona fide hedging transaction as defined in CFTC Regulation
§1.3(z). 
 Capitalized terms used but not defined in this Hedge Account Election have the meaning set forth in the Agreement. 

Nuveen Long/Short Commodity Total Return Fund 

(Name of Customer – Please Print) 
 By:
Nuveen Commodities Asset Management, LLC, the Fund’s manager and commodity pool operator 
  

	
	/s/ Gifford R. Zimmerman
	(Signature)
	
	Gifford R. Zimmerman, Chief Administrative Officer
	(Name & Title –Please Print)
	
	October 30, 2012
	(Date)

  

					
		  	B-3	  	 May 2012
 Single Customer Version

 LIQUIDATION ELECTION 
 Customer should note that CFTC Regulation §190.06 permits Customer to specify whether, in the unlikely event of Barclays’ bankruptcy, Customer prefers the bankruptcy trustee to liquidate all
positions in the Account(s). Accordingly, Customer hereby elects as follows (please check one): 
  ̈ Liquidate                             ̈ Not Liquidate 
 If neither alternative is selected, Customer
will be deemed to have elected to have all positions liquidated. This election may be changed at any time by written notice. 
 Capitalized
terms used but not defined in this Liquidation Election have the meaning set forth in the Agreement. 
 Nuveen Long/Short Commodity Total Return
Fund 
 (Name of Customer – Please Print) 
 By: Nuveen Commodities Asset Management, LLC, the Fund’s manager and commodity pool operator 
  

	
	/s/ Gifford R. Zimmerman
	 (Signature)

	
	 Gifford R. Zimmerman, Chief Administrative Officer

	 (Name & Title –Please Print)

	
	 October 30, 2012

	 (Date)

  

					
		  	B-4	  	 May 2012
 Single Customer Version

 PLAN ASSET REPRESENTATION 
 Customer hereby represents and warrants, by checking the appropriate box, that: 
  

	 	x	(1) none of its assets constitute or are deemed to be assets of any employee benefit plan subject to Title I of the Employee Retirement Income Security Act of 1974
(“ERISA”), any plan subject to Section 4975 of the Internal Revenue Code of 1986 (the “Code”) or any governmental plan subject to rules similar to those of Section 406 of ERISA or Section 4975 of the
Code. 

  

	 	 ̈	(2) it is an entity described in (1) and it will execute the Employee Benefit Authorization Form. 

 

	 	 ̈	(3) it is a limited partnership, limited liability company, bank collective trust fund or other entity, some or all of whose assets are deemed to be “plan
assets” as defined in Section 3(42) of ERISA, and it will execute the Plan Asset Fund Authorization Form. 

 Customer
further undertakes to will immediately advise Barclays in writing of any change in the status of Customer which affects this representation. Capitalized terms used but not defined in this Plan Asset Representation have the meaning set forth in the
Agreement. 
 Nuveen Long/Short Commodity Total Return Fund 
 (Name of Customer – Please Print) 
 By: Nuveen Commodities Asset Management, LLC, the
Fund’s manager and commodity pool operator 
  

	
	/s/ Gifford R. Zimmerman
	 (Signature)

	
	 Gifford R. Zimmerman, Chief Administrative Officer

	 (Name & Title –Please Print)

	
	 October 30, 2012

	 (Date)

  

					
		  	B-5	  	 May 2012
 Single Customer Version

 EMPLOYEE BENEFIT PLAN AUTHORIZATION 

[IF NO QPAM IS INVOLVED, CONTACT THE COMPLIANCE DEPARTMENT OF BARCLAYS CAPITAL INC. TO DISCUSS THE SCOPE OF THE PLAN’S FUTURES TRADING ACTIVITIES
AND ANY ADDITIONAL DOCUMENTATION THAT MAY BE REQUIRED BY BARCLAYS CAPITAL INC.] 
 1. In consideration of the acceptance by Barclays of one
or more accounts of             (the “Trust”) under and on behalf of             (the “Plan”),
a duly formed employee benefit plan subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or a duly formed governmental plan subject to rules substantially similar to Section 406 of ERISA or
Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), the undersigned each continuously represent and warrant to Barclays that the documents under which the Plan and Trust were established, as such
documents have been amended from time to time, authorize the undersigned to open one or more accounts in the name of the Trust with Barclays for the purpose of trading in Contracts and that the undersigned, or any agent of the undersigned designated
by the undersigned, be and hereby are authorized to act for the Trust in every respect regarding the Trust’s Account(s), the authority hereby granted including, without limitation, the power to do each of the following acts necessary in
connection with the Account(s) and the transactions effected therein: 
  

	 	(a)	To open one or more accounts in the name of            as Trustee(s) of the Trust with Barclays for the
purpose of trading in Contracts, and to execute in the name of the Trust and deliver to Barclays the Agreement and any and all other agreements, documents, instruments or notices (collectively, the “Relevant Agreements”) necessary
to the opening, maintenance and/or trading of such Account(s); 

  

	 	(b)	To buy, sell and trade and agree to buy, sell and trade Contracts, on margin or otherwise, which power to sell includes the power to sell “short”;

  

	 	(c)	To effect and receive payment and delivery in the performance of Contracts and any obligations undertaken in connection therewith; 

 

	 	(d)	To deposit with and withdraw from Barclays any money, securities, commodities, Contracts and contracts for the purchase or sale of securities and other property;

  

	 	(e)	To engage in trades opposite Barclays or its affiliates, in accordance with the CEA and the rules and regulations promulgated thereunder, and applicable Transaction
Facility’s rules; 

  

	 	(f)	To receive and promptly comply with any request or demand for additional margin, any notice of intention to liquidate, and any notice or demand of any other nature; and

  

	 	(g)	To take such other actions as may be necessary or desirable to carry out the intent of the foregoing and the satisfaction of each and every obligation of the Plan in
connection with the Account(s) and the transactions effected therein. 

 2. The undersigned each continuously represent and
warrant to Barclays that: 
  

	 	(a)	the Plan has appointed             (the “Advisor”); 

 

	 	(b)	the Advisor is a qualified professional asset manager within the meaning of Prohibited Transaction Class Exemption 84-14 (“PTE 84-14”) under ERISA;

  

	 	(c)	the terms of the transactions under the Relevant Agreements and this Employee Benefit Plan Authorization are and will be negotiated on behalf of the Trust by, or under
the authority and general direction of, the Advisor; 

  

					
		  	B-6	  	 May 2012
 Single Customer Version

	 	(d)	with respect to any Plan subject to Title I of ERISA or Section 4975 of the Code, the Advisor (or an investment manager acting in accordance with written
guidelines established and administered by the Advisor) makes all decisions on behalf of the Trust to enter into such transactions, and the conditions of Part I of PTE 84-14 will otherwise be met with respect to each such transaction;

  

	 	(e)	with respect to any governmental Plan, no violation of any law, regulation, policy or procedure relating to such Plan shall occur with respect to the Account and the
transactions entered into hereunder in contemplation of this Agreement; and 

  

	 	(f)	the Advisor is authorized by the Trust to act for the Trust and to do each of the acts set forth in Section 1 above and the following acts necessary in connection
with the Account(s) and the transactions effected therein: 

  

	 	(i)	To engage in exchange-for-physical, exchange-for-swap, and exchange-for-risk transactions with Barclays; 

 

	 	(ii)	To execute in the name of the Plan and deliver to Barclays the Cross Trade Consent set forth in the Agreement and to engage in cross trades opposite Barclays; and

  

	 	(iii)	To borrow funds from Barclays (on a secured basis) or its affiliates to finance any transactions in Contracts effected through or with Barclays.

  

	3.	Barclays is hereby directed to send written confirmations of all Contracts effected by Barclays for the Trust and all statements of account of the Trust with Barclays
and other pertinent records and documents to             (Name and Title), who is not authorized to trade with Barclays but hereby is authorized to receive and acquiesce in the correctness
of such confirmations, statements, and other records and documents. 

  

	4.	The undersigned each continuously represent and warrant that: (a) Barclays is not acting as a fiduciary, as that term is defined in Section 3(21) of ERISA, of
the Plan or the Trust, and Barclays shall have no responsibility for the Plan’s or the Trust’s compliance with ERISA; (b) Barclays shall have no responsibility for the investment policies or strategies of the Plan, or the overall
diversification or prudence requirements applicable to Plan investments; (c) any information provided by Barclays in connection with a transaction shall not serve as the primary basis for any decision made on behalf of the Trust to enter into
the transaction, it being understood that all decisions made on behalf of the Trust are solely within the power and discretion of the Plan fiduciary directing the transaction; and (d) the transactions contemplated under the Relevant Agreements
and this Employee Benefit Plan Authorization shall not give rise to any nonexempt prohibited transaction within the meaning of Section 406 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended, or with respect to any
governmental Plan, any provision which is similar to Section 406 of ERISA or Section 4975 of the Code. 

  

	5.	Any and all past transactions of the kind provided for by this Employee Benefit Plan Authorization that have been previously made on behalf of or with this Plan hereby
are ratified, confirmed and approved in all respects. 

  

	6.	Barclays and any interested third party is authorized to rely and act upon the foregoing representations and warranties until such time as Barclays shall be notified
otherwise in advance and in a writing signed by the Trustee and/or the Plan Sponsor and the Plan and             (Insert Name of the Plan Sponsor) each shall separately indemnify and hold
Barclays harmless from and against any liability, loss, cost or expense it incurs in continuing to act in reliance upon this certification and authorization prior to its actual receipt of any such notice. 

  

					
		  	B-7	  	 May 2012
 Single Customer Version

	7.	Capitalized terms used but not defined in this Authorization have the meaning set forth in the Agreement. 

 

	8.	The Trustee, Plan Sponsor/Named Fiduciary, and Advisor should each sign below: 

 

	A.	Signature of Trustee: 

  

							
	 (Name of Plan - Please Print)
	 		 	
				
	 By:
	 	 	 		 	
		 	(Trustee’s Signature)	 		 	
				
		 		 		 	 
	 (Name & Title - Please Print)
	 		 	(Date)

  

	B.	Signature of Plan Sponsor/Named Fiduciary: 

  

							
	 (Name of Plan Sponsor/Named Fiduciary - Please Print)
	 		 	
				
	 By:
	 	 	 		 	
		 	(Signature)	 		 	
				
		 		 		 	 
	 (Name & Title - Please Print)
	 		 	(Date)

  

	C.	Signature of Advisor/Qualified Professional Asset Manager: 

  

							
	(Name of Advisor/Qualified Professional Asset Manager)	 		 	
				
	 By:
	 	 	 		 	
		 	(Signature)	 		 	
				
		 		 		 	 
	 (Name & Title - Please Print)
	 		 	(Date)

  

					
		  	B-8	  	 May 2012
 Single Customer Version

 PLAN ASSET FUND AUTHORIZATION 

[IF NO QPAM IS INVOLVED, CONTACT THE COMPLIANCE DEPARTMENT OF BARCLAYS CAPITAL INC. TO DISCUSS THE SCOPE OF THE PLAN’S FUTURES TRADING ACTIVITIES
AND ANY ADDITIONAL DOCUMENTATION THAT MAY BE REQUIRED BY BARCLAYS CAPITAL INC.] 
  

	1.	In consideration of the acceptance by Barclays of one or more accounts of             (the
“Fund”), a commingled investment vehicle in which at least 25% of a class of equity interests is held by Benefit Plan Investors (as defined below), the undersigned continuously represents and warrants to Barclays that the documents
under which the Fund was established, as such documents have been amended from time to time, authorize the undersigned to open one or more Accounts in the name of the Fund with Barclays for the purpose of trading in Contracts and that the
undersigned, or any agent of the undersigned designated by the undersigned, be and hereby are authorized to act for the Fund in every respect regarding the Fund’s Account(s), the authority hereby granted including, without limitation, the power
to do each of the following acts necessary in connection with the Account(s) and the transactions effected therein: 

  

	 	(a)	To open one or more accounts in the name of the Fund with Barclays for the purpose of trading in Contracts, and to execute in the name of the Fund and deliver to
Barclays the Agreement, the Cross Trade Consent set forth in the Agreement, and any and all other agreements, documents, instruments or notices (collectively, the “PAFA Agreements”) necessary to the opening, maintenance and/or
trading of such Account(s); 

  

	 	(b)	To buy, sell and trade and agree to buy, sell and trade Contracts, on margin or otherwise, which power to sell includes the power to sell “short”;

  

	 	(c)	To effect and receive payment and delivery in the performance of Contracts and any obligations undertaken in connection therewith; 

 

	 	(d)	To deposit with and withdraw from Barclays any money, securities, commodities, Contracts and contracts for the purchase or sale of securities and other property;

  

	 	(e)	To engage in trades opposite Barclays, in accordance with the CEA, as amended, the rules and regulations promulgated thereunder, and applicable Transaction Facility
rules; 

  

	 	(f)	To receive and promptly comply with any request or demand for additional margin, any notice of intention to liquidate, and any notice or demand of any other nature; and

  

	 	(g)	To take such other actions as may be necessary or desirable to carry out the intent of the foregoing and the satisfaction of each and every obligation of the Fund in
connection with the Account(s) and the transactions effected therein. 

  

	2.	The undersigned continuously represents and warrants to Barclays on behalf of the Fund that: 

 

	 	(a)	            (“Manager”) has authority and control over the investment of the Fund’s
assets; 

  

	 	(b)	Manager is a qualified professional asset manager within the meaning of Prohibited Transaction Class Exemption 84-14 (“PTE 84-14”) under ERISA;

  

	 	(c)	the terms of the transactions under the PAFA Agreements and this Plan Asset Fund Authorization are and will be negotiated on behalf of the Fund by, or under the
authority and general direction of, Manager; 

  

					
		  	B-9	  	 May 2012
 Single Customer Version

	 	(d)	with respect to any Plan subject to Title I of the Employee Retirement Income Security Act of 1974 (“ERISA”) or Section 4975 of the Internal
Revenue Code of 1986 (the “Code”), Manager (or an investment manager acting in accordance with written guidelines established and administered by the Manager) makes all decisions on behalf of the Fund to enter into such
transactions, and the conditions of Part I of PTE 84-14 will otherwise be met with respect to each such transaction; 

  

	 	(e)	the Advisor is authorized by the Trust to act for the Fund and to do each of the acts set forth in Section 1 above and the following acts necessary in connection
with the Account(s) and the transactions effected therein: 

  

	 	(i)	To engage in exchange-for-physical, exchange-for-swap, and exchange-for-risk transactions with Barclays; 

 

	 	(ii)	To execute in the name of the Fund and deliver to Barclays the Cross Trade Consent set forth in the Agreement and to engage in cross trades opposite Barclays; and

  

	 	(iii)	To borrow funds from Barclays (on a secured basis) or its affiliates to finance any transactions in Contracts effected through or with Barclays.

  

	3.	Barclays is hereby directed to send written confirmations of all Contracts effected by Barclays for the Fund and all statements of account of the Fund with Barclays and
other pertinent records and documents to             (Name and Title), who is not authorized to trade with Barclays but hereby is authorized to receive and acquiesce in the correctness of
such confirmations, statements, and other records and documents. 

  

	4.	The undersigned each continuously represent and warrant that: (a) Barclays is not acting as a fiduciary, as that term is defined in Section 3(21) of ERISA, of
the Fund or of any Benefit Plan Investor in the Fund, and Barclays shall have no responsibility for the compliance with ERISA by the Fund or any Benefit Plan Investor in the Fund; (b) Barclays shall have no responsibility for the investment
policies or strategies of the Fund or of any Benefit Plan Investor in the Fund, or the overall diversification or prudence requirements applicable to the investments of any Benefit Plan Investor in the Fund; (c) any information provided by
Barclays in connection with a transaction shall not serve as the primary basis for any decision made on behalf of the Fund to enter into the transaction, it being understood that all decisions made on behalf of the Fund are solely within the power
and discretion of the Manager; and (d) the transactions contemplated under the Agreements and this Authorization shall not give rise to any nonexempt prohibited transaction within the meaning of Section 406 of ERISA or Section 4975 of
the Internal Revenue Code of 1986, as amended. 

  

	5.	Any and all past transactions of the kind provided for by this certification and authorization that have been previously made on behalf of or with this Fund hereby are
ratified, confirmed and approved in all respects. 

  

	6.	Barclays and any interested third party is authorized to rely and act upon the foregoing representations and warranties until such time as Barclays shall be notified
otherwise in advance and in a writing signed on behalf of the Fund by a person authorized to do so and the Fund and Manager each shall separately indemnify and hold Barclays harmless from and against any liability, loss, cost or expense it incurs in
continuing to act in reliance upon this Plan Asset Fund Authorization prior to its actual receipt of any such notice. 

  

	7.	For purposes of this Agreement, “Benefit Plan Investor” means (i) an employee benefit plan which is subject to the fiduciary rules of Part 4 of
Title I of ERISA, (ii) an individual retirement account (“IRA”), Keogh plan or other plan subject to Section 4975 of the Code or (iii) an entity whose underlying assets include assets of a plan described in
(i) or (ii) by reason of such a plan’s investment (direct or indirect) in the entity. An entity described in (iii) will be treated as a Benefit Plan Investor only to the extent of the percentage of the equity interests in such
entity held by Benefit Plan Investors. 

  

					
		  	B-10	  	 May 2012
 Single Customer Version

	8.	Capitalized terms used but not defined in this Authorization have the meaning set forth in the Agreement. 

 

	9.	The Fund and the Manager should each sign below: 

  

	A.	Signature for the Fund: 

  

							
	(Name of Fund—Please Print)	 		 	
				
	 By:
	 	 	 		 	
		 	(Signature)	 		 	
				
		 		 		 	 
	 (Name & Title - Please Print)
	 		 	(Date)

  

	B.	Signature of Manager: 

  

							
	(Name of Manager/Qualified Professional Asset Manager)	 		 	
				
	 By:
	 	 	 		 	
		 	(Signature)	 		 	
				
		 		 		 	 
	 (Name & Title - Please Print)
	 		 	(Date)

  

					
		  	B-11	  	 May 2012
 Single Customer Version

 DISCRETIONARY TRADING AUTHORIZATION 

Gentlemen: 
 The undersigned Customer hereby
authorizes Gresham Investment Management LLC (the “Advisor”) as its agent and attorney-in-fact to purchase, sell (including short sales) and trade in Contracts, whether listed on U.S. or non-U.S. markets, on margin or otherwise, in
accordance with Barclays’ terms and conditions for Customer’s account and risk and in Customer’s name or number on Barclays’ books. Without limiting the foregoing, Barclays is hereby authorized, upon the instruction of the
Advisor to make or receive delivery of the commodities or securities underlying the futures contracts traded by the Advisor on behalf of Customer. Barclays is directed to send to Advisor a copy of all statements that Barclays sends to Customer
concerning Customer’s Account(s). Customer hereby ratifies and confirms any and all transactions with Barclays heretofore. The Customer hereby agrees to indemnify and hold Barclays harmless from and to pay Barclays promptly on demand any and
all losses, damages, costs, injuries and expenses arising out of or in relation to the Advisor’s trading activities, or debit balance due thereon. 
 Customer understands that Barclays is in no way responsible for any loss to Customer occasioned by actions of the Advisor or its agents and that Barclays does not, by implication or otherwise, endorse the
operator or methods of the Advisor or its agents. 
 This authorization and indemnity is in addition to (and in no way limits or restricts) any
rights which Barclays may have under the Agreement or any other agreement or agreements between Barclays and Customer or at law or in equity. 

This authorization may be terminated by Customer at any time as of the actual receipt by Barclays of written notice of termination. Termination of this
authorization shall not affect any liability in any way resulting from transactions initiated (including open positions or outstanding orders submitted by the Advisor but not yet executed) prior to such termination. This authorization and indemnity
shall inure to Barclays’ benefit and that of Barclays’ successors and assigns. 
 Nuveen Long/Short Commodity Total Return Fund

 (Name of Customer – Please Print) 
 By: Nuveen Commodities Asset Management, LLC, the Fund’s manager and commodity pool operator 
  

	
	/s/ Gifford R. Zimmerman
	(Signature)
	
	Gifford R. Zimmerman, Chief Administrative Officer
	(Name & Title – Please Print)
	
	October 30, 2012
	(Date)

  

					
		  	B-12	  	 May 2012
 Single Customer Version

 REPRESENTATIONS OF ADVISOR 
 The undersigned Advisor acknowledges that it has been designated as Nuveen Long/Short Commodity Total Return Fund’s agent and attorney-in-fact pursuant to the Discretionary Trading Authorization set
forth above. In this regard, the Advisor hereby represents and warrants to Barclays that: (a) the Advisor has reviewed the registration requirements, as amended from time to time, of the CEA, the CFTC, and the NFA relating to commodity pool
operators and commodity trading advisors and is either appropriately registered with the CFTC and a member of the NFA or exempt or excluded from CFTC registration requirements (explain the basis for such exclusion or exemption below); and
(b) the Advisor has provided and will continue to provide Customer with an explanation of the nature and risks of the strategies to be used in connection with all transactions to be executed for Customer’s account, and has provided
Customer with a copy of its most recent CFTC disclosure document, or has provided Barclays with a written explanation of the reason why it is not required to deliver a disclosure document to Customer. 

Applicable Exclusion or Exemption: Advisor is not required to deliver a disclosure document to Customer in reliance upon CFTC Rule 4.7.

 The undersigned agrees promptly to give Barclays written notice if any of the representations or warranties set forth above become inaccurate
or in any way cease to be true, complete and correct. 
 Advisor is authorized to effect transactions on Contracts and to buy, sell and
otherwise deal in Contracts pursuant to the Discretionary Trading Authorization. Barclays may rely on all instructions, whether verbal or written, received by it from such officers or employees with respect to any of the transactions referred to
above without further inquiry until it receives written notice of a change from the Advisor or Customer. 
 The Advisor hereby agrees to
indemnify and hold Barclays harmless from and to pay Barclays promptly on demand any and all losses, damages, costs, injuries and expenses arising out of or in relation to any action taken or not taken by Barclays in reliance upon any instruction,
notice or communication given by the Advisor or any agent of Advisor prior to receipt by Barclays of written notice from the Advisor that such agent is no longer so authorized. 

 

							
	Gresham Investment Management LLC	  		  		  	
	(Name of Advisor – Please Print)	  		  		  	
				
	/s/ Jonathan S. Spencer	  		  		  	
	(Signature)	  		  		  	
				
	Jonathan S. Spencer, President	  		  	 	  	
	(Name & Title – Please Print)	  		  	(Date)	  	

  

					
		  	B-13	  	 May 2012
 Single Customer Version

 CORPORATE CERTIFICATION & AUTHORIZATION 

I,                    , the
undersigned                     [Insert Title] of
                    , a corporation duly organized and existing under the laws of
                    (the “Corporation”), having its principal office at
                    DO HEREBY CERTIFY that the Corporation is authorized under its governing documents, as amended from time to time, to trade in
Contracts and possesses the power and authority to undertake the transactions contemplated by the Agreement. 
 The undersigned further
certifies that: 
 (a) Any officer of this Corporation acting alone (or any employee or agent of the Corporation designated by
any such officer) hereby is authorized to act for the Corporation in every respect concerning the Corporation’s Account(s), the authority hereby granted including, without limitation, the authority to do any or all of the following acts or
actions necessary in connection with the Account(s) and the transactions effected therein: 
  

	 	(i)	To open one or more accounts in the name of the Corporation with Barclays for the purpose of trading in Contracts, and to execute in the name of the Corporation and
deliver to Barclays the Agreement and any and all agreements, documents, instruments or notices necessary to the opening, maintenance and/or trading of such Account(s); 

 

	 	(ii)	To buy, sell and trade and agree to buy, sell and trade Contracts, on margin or otherwise, which power shall include the power to sell “short”;

  

	 	(iii)	To effect and receive payment and delivery in the performance of Contracts and any obligations undertaken in connection therewith; 

 

	 	(iv)	To deposit with and withdraw from Barclays any money, securities, commodities, Contracts and contracts for the purchase or sale of securities and other property;

  

	 	(v)	To receive and promptly comply with any request or demand for additional margin, any notice of intention to liquidate, and any notice or demand of any other nature;

  

	 	(vi)	To borrow funds from Barclays (on a secured basis) to finance any Contract transactions effected through or with Barclays; and 

 

	 	(vii)	To take such other actions as may be necessary or desirable to carry out the intent of the foregoing and the satisfaction of each and every obligation of the
Corporation in connection with the Account(s), the Agreement and the transactions effected therein; 

 (b) Barclays is directed to
send written confirmations of all Contracts effected for this Corporation and carried in the Account(s) and all statements of account of the Corporation with Barclays and other pertinent records and documents to
                    (Name and Title of Officer or Agent), who is not authorized to trade with Barclays but hereby is authorized to receive and
acquiesce in the correctness of such confirmations, statements, and other records and documents; 
 (c) Any and all past transactions of the kind
provided for by this Corporate Certification & Authorization which have been previously made by Barclays on behalf of or with this Corporation hereby are ratified, confirmed and approved in all respects; and 

  

					
		  	B-14	  	 May 2012
 Single Customer Version

 (d) Barclays and any interested third party is authorized to rely and act upon the authority of this
Corporate Certification & Authorization until receipt by Barclays of a certificate showing rescission, amendment or modification thereof and signed by an officer of the Corporation, and that this Corporation will indemnify and hold harmless
Barclays from and against any liability, loss, cost or expense it incurs in continuing to act in reliance upon this Corporate Certification & Authorization prior to its actual receipt of any such certificate. 

 

	(e)	Capitalized terms used but not defined in this Authorization have the meaning set forth in the Agreement. 

IN WITNESS WHEREOF, I have hereunto subscribed my name this
                    day of                     ,
20    . 
  

	
	Name
	
	  
 Title

	
	  
 Date

  

					
		  	B-15	  	 May 2012
 Single Customer Version

 PARTNERSHIP CERTIFICATION & AUTHORIZATION 

Gentlemen: 
 The undersigned general partner(s)
of                     , a
                    (general/limited) partnership organized and existing under the laws of
                    (the “Partnership”), having its principal office at
                    DO HEREBY CERTIFY that the Partnership is authorized under its partnership agreement, as amended from time to time, to trade in
Contracts and possesses the power and authority to undertake the transactions contemplated by the Agreement. 
 The undersigned further certify
that: 
 (a) Any general partner of the Partnership acting alone (or any employee or agent of the Partnership designated by any
such general partner) hereby is authorized to act for the Partnership in every respect concerning the Partnership’s Account(s) with Barclays, the authority hereby granted including, without limitation, the authority to do any or all of the
following acts or actions necessary in connection with the Account(s) and the transactions effected therein: 
  

	 	(i)	To open one or more accounts in the name of the Partnership with Barclays for the purpose of trading in Contracts, and to execute in the name of the Partnership and
execute and deliver to Barclays the Agreement and any and all other agreements, documents, instruments or notices necessary to the opening, maintenance and/or trading of such Account(s); 

 

	 	(ii)	To buy, sell and trade and agree to buy, sell and trade Contracts, on margin or otherwise, which power shall include the power to sell “short”;

  

	 	(iii)	To effect and receive payment and delivery in the performance of Contracts and any obligations undertaken in connection therewith; 

 

	 	(iv)	To deposit with and withdraw from Barclays any money, securities, commodities, Contracts and contracts for the purchase or sale of securities and other property;

  

	 	(v)	To receive and promptly comply with any request or demand for additional margin, any notice of intention to liquidate, and any notice or demand of any other nature;

  

	 	(vi)	To borrow funds from Barclays (on a secured basis) or its affiliates to finance any Contract transactions effected through or with Barclays; and

  

	 	(vii)	To take such other actions as may be necessary or desirable to carry out the intent of the foregoing and the satisfaction of each and every obligation of the
Partnership in connection with the Account(s) and the transactions effected therein; 

 (b) Barclays is directed to send all
written confirmations of all Contracts effected for the Partnership and carried in the Account(s) and all statements of account of the Partnership with Barclays and other pertinent documents and records to
                    (Name and Title of Partner or Agent), who is not authorized to trade with Barclays but hereby is authorized to receive and
acquiesce in the correctness of such confirmations, statements, and other records and documents; 

  

					
		  	B-16	  	 May 2012
 Single Customer Version

 (c) Any and all past transactions between the Partnership and Barclays of the kind provided for by this
Partnership Certification & Authorization are hereby ratified, approved and confirmed in all respects; and 
  

	(d)	In consideration of Barclays maintaining the Account(s) of the Partnership the undersigned agree that: 

(i) The undersigned is/are jointly and severally liable to Barclays for any and all obligations arising out of transactions in or relating
to the Account(s) of the Partnership. 
 (ii) If there is any change in this Partnership Certification & Authorization
or if any of the general partners withdraw from the Partnership, die or are judicially declared incompetent, the undersigned will notify Barclays in writing immediately. Until Barclays has actually received such written notice signed by a general
partner of the Partnership, Barclays shall be entitled to act in reliance on this Partnership Certification & Authorization. The Partnership will indemnify and hold Barclays harmless from and against any loss suffered or liability incurred
in continuing to act in reliance on this Partnership Certification & Authorization prior to Barclays’ actual receipt of such written notice. 
  

	(e)	Capitalized terms used but not defined in this Authorization have the meaning set forth in the Agreement. 

Dated this             day of
            , 200    . 
 General Partners: (EVERY GENERAL
PARTNER MUST SIGN) 
  

					
			
	  
 (Signature)
	 		 	  

(Signature)

			
	  
 (Name—Please
Print)
	 		 	  
 (Name—Please
Print)

			
	  
 (Signature)
	 		 	  

(Signature)

			
	  
 (Name—Please
Print)
	 		 	  
 (Name—Please
Print)

			
	  
 (Signature)
	 		 	  

(Signature)

			
	  
 (Name—Please
Print)
	 		 	  
 (Name—Please
Print)

  

					
		  	B-17	  	 May 2012
 Single Customer Version

 TRUST CERTIFICATION & AUTHORIZATION 

1. The undersigned is the manager with full management control of the Nuveen Long/Short Commodity Total Return Fund, a Delaware statutory
trust duly formed on May 25, 2011(the “Trust”). The undersigned represents and warrants to Barclays that the Trust Agreement of the Trust, as amended from time to time, authorizes the undersigned to open one or more Accounts in
the name of the Trust with Barclays for the purpose of trading in Contracts as contemplated by the Agreement and that the undersigned, or any agent of the undersigned designated by the undersigned, be and hereby are authorized to act for the Trust
in every respect regarding the Trust’s Account(s) with Barclays, the authority hereby granted including, without limitation, the power to do any or all of the following acts necessary in connection with the Account(s) and the transactions
effected therein: 
  

	 	(a)	To open one or more accounts in the name of the Trust with Barclays for the purpose of trading in Contracts, and to execute in the name of the Trust and execute and
deliver to Barclays the Agreement and any and all agreements, documents, instruments or notices necessary to the opening, maintenance and/or trading of such Account(s); 

 

	 	(b)	To buy, sell and trade and agree to buy, sell and trade Contracts, on margin or otherwise, which power shall include the power to sell “short”;

  

	 	(c)	To effect and receive payment and delivery in the performance of Contracts and any obligations undertaken in connection therewith; 

 

	 	(d)	To deposit with and withdraw from Barclays any money, securities, commodities, Contracts and contracts for the purchase or sale of securities and other property;

  

	 	(e)	To receive and promptly comply with any request or demand for additional margin, any notice of intention to liquidate, and any notice or demand of any other nature;

  

	 	(f)	To borrow funds from Barclays (on a secured basis) or its affiliates to finance any Contracts effected through or with Barclays; and 

 

	 	(g)	To take such other actions as may be necessary or desirable to carry out the intent of the foregoing and the satisfaction of each and every obligation of the Trust in
connection with the Account(s) and the transactions effected therein. 

 2. Barclays is hereby directed to send
written confirmations of all Contracts effected for the Trust and carried in the Accounts(s) and all statements of account of the Trust with Barclays and other pertinent records and documents to State Street Bank & Trust Company, the
Trust’s custodian, which is not authorized to trade with Barclays but hereby is authorized to receive and acquiesce in the correctness of such confirmations, statements, and other records and documents at the following e-mail address:

 3. Any and all past transactions of the kind provided for by this Trust Certification & Authorization that have been
previously made on behalf of or with this Trust hereby are ratified, confirmed and approved in all respects. 
 4. Barclays and
any interested third party is authorized to rely and act upon the foregoing representations and warranties until such time as Barclays shall be notified otherwise in a writing signed by the Trust or the undersigned or any representative of the
undersigned and the Trust will indemnify and hold harmless Barclays from and against any liability, loss, cost or expense it incurs in continuing to act in reliance upon this Trust Certification & Authorization prior to its actual receipt
of any such notice. 

  

					
		  	B-18	  	 May 2012
 Single Customer Version

 5. Capitalized terms used but not defined in this Authorization have the meaning set forth
in the Agreement. 
 Nuveen Long/Short Commodity Total Return Fund 
 (Name of Trust—Please Print) 
 By: Nuveen Commodities Asset Management, LLC, the Fund’s
manager and commodity pool operator 
  

					
	/s/ Gifford R. Zimmerman	 		 	October 30, 2012__
	(Signature)	 		 	(Date)

 Gifford R. Zimmerman, Chief Administrative Officer 
 (Name & Title—Please Print) 

  

					
		  	B-19	  	 May 2012
 Single Customer Version

 LIMITED LIABILITY COMPANY CERTIFICATION & AUTHORIZATION 

We the undersigned, constituting all of the [Managing-Members/Managers] of             , a
Limited Liability Company duly organized and existing under the laws of             (the “Company”), having its principal office at
            DO HEREBY CERTIFY that the Company is authorized under its governing documents, as amended from time to time, to trade in Contracts and possesses the power and authority to
undertake the transactions contemplated by the Agreement. 
 The undersigned further certify that: 

(a) Any [Managing-Member/Manager] of this Company or any employee or agent of this Company designated by any such [Managing-Member/Manager] hereby is
authorized to act for the Company in every respect concerning the Company’s Account(s) with Barclays, the authority hereby granted including, without limitation, the power to do any or all of the following acts and actions necessary in
connection with the Account(s) and the transactions effected therein: 
  

	 	(i)	To open one or more accounts in the name of the Company with Barclays for the purpose of trading in Contracts, and to execute in the name of the Company and execute and
deliver to Barclays the Agreement and any and all agreements, documents, instruments or notices necessary to the opening, maintenance and/or trading of such Account(s); 

 

	 	(ii)	To buy, sell and trade and agree to buy, sell and trade Contracts, on margin or otherwise, which power shall include the power to sell “short”;

  

	 	(iii)	To effect and receive payment and delivery in the performance of Contracts and any obligations undertaken in connection therewith; 

 

	 	(iv)	To deposit with and withdraw from Barclays any money, securities, commodities, Contracts and contracts for the purchase or sale of securities and other property;

  

	 	(v)	To receive and promptly comply with any request or demand for additional margin, any notice of intention to liquidate, and any notice or demand of any other nature;

  

	 	(vi)	To borrow funds from Barclays (on a secured basis) or its affiliates to finance any Contract effected through or with Barclays; and 

 

	 	(vii)	To take such other actions as may be necessary or desirable to carry out the intent of the foregoing and the satisfaction of each and every obligation of the Company in
connection with the Account(s) and the transactions effected therein; 

 (b) Barclays is directed to send written confirmations of
all Contract transactions effected for this Company and carried in the Account(s) and all statements of account of the Company with Barclays and other pertinent records and documents to
            (Name and Title of Managing-Member/Manager or Agent), who is not authorized to trade with Barclays but hereby is authorized to receive and acquiesce in the correctness of such
confirmations, statements, and other records and documents; 
 (c) Any and all past transactions of the kind provided for by this Limited
Liability Company Certification & Authorization which have been previously made by Barclays on behalf of or with this Company hereby are ratified, confirmed and approved in all respects; and 

  

					
		  	B-20	  	 May 2012
 Single Customer Version

 (d) Barclays and any interested third party is authorized to rely and act upon the authority of this Limited
Liability Company Certification & Authorization until receipt by Barclays of a certificate showing rescission, amendment or modification thereof and signed by a [Managing-Member/Manager] of this Company, and that this Company will indemnify
and hold harmless Barclays from and against any liability, loss, cost or expense it incurs in continuing to act in reliance upon this Limited Liability Company Certification & Authorization prior to its actual receipt of any such
certificate. 
  

	(e)	Capitalized terms used but not defined in this Authorization have the meaning set forth in the Agreement. 

IN WITNESS WHEREOF, we have hereunto subscribed our names this             day of
            , 200            . 
  

					
	[Managing-Members/Manager(s)]:	 		  	
			
	  
	 		  	  

	(Signature)	 		  	(Signature)
			
	  
	 		  	  

	(Name & Title—Please Print)	 		  	(Name & Title—Please Print)
			
	  
	 		  	  

	(Signature)	 		  	(Signature)
			
	  
	 		  	  

	(Name & Title—Please Print)	 		  	(Name & Title—Please Print)

  

					
		  	B-21	  	 May 2012
 Single Customer Version

 CERTIFICATE OF INCUMBENCY 
 I, Gifford R. Zimmerman, do hereby certify that: 
  

	1.	I am the duly elected, qualified and acting Chief Administrative Officer of Nuveen Commodities Asset Management, LLC, a Delaware limited liability company he
“Company”) that serves as manager and commodity pool operator of the Nuveen Long/Short Commodity Total Return Fund, a Delaware statutory trust. 

 

	2.	I am authorized to execute this Certificate of Incumbency on behalf of the Company. 

 

	3.	The following named persons are, as of the date hereof, officers or authorized representatives of the Company serving in the capacities set forth opposite their names,
and with respect to each office or authorized position held with respect to the Company, are duly elected or appointed, qualified, and acting as such and the signature appearing opposite their names is a true and genuine specimen of their signature:

  

											
	 Name
	  	 	  	 Title
	  	 	  	 	  	 
	Gifford R. Zimmerman	  		  	Chief Administrative Officer	  		  	 /s/ Gifford R. Zimmerman

		  		  		  		  	[Signature]	  	
						
	  
	  		  	  
	  		  	  
	  	
		  		  		  		  	[Signature]	  	
						
	  
	  		  	  
	  		  	  
	  	
		  		  		  		  	[Signature]	  	
						
	  
	  		  	  
	  		  	  
	  	
		  		  		  		  	[Signature]	  	

 IN WITNESS WHEREOF, I have hereunto subscribed my name to this Certificate of Incumbency for the Company
this 30th day of October, 2012. 
  

	
	/s/ Mark Winget
	Name: Mark Winget
	Title: Vice President and Assistant Secretary,
	Nuveen Commodities Asset Management, LLC

 Note: The person making this certification may not be one of the individuals listed under Section 3 above.

  

					
		  	B-22	  	 May 2012
 Single Customer VersionSynageva BioPharma Corp 2005 Stock Plan, as amended

 Exhibit 4.3 
 SYNAGEVA BIOPHARMA CORP. 
 (f/k/a AviGenics, inc.) 

2005 STOCK PLAN 
 1. Purposes of the Plan. The purposes of this 2005 Stock Plan are to attract and retain the best available personnel for positions of substantial responsibility, to provide additional
incentive to Employees and Consultants and to promote the success of the Company’s business. Options granted under the Plan may be Incentive Stock Options or Nonstatutory Stock Options, as determined by the Administrator at the time of grant of
an option and subject to the applicable provisions of Section 422 of the Code and the regulations and interpretations promulgated thereunder. Stock purchase rights may also be granted under the Plan. 

2. Definitions. As used herein, the following definitions shall apply: 

(a) “Administrator” means the Board or its Committee appointed pursuant to Section 4 of the Plan.

 (b) “Affiliate” means an entity other than a Subsidiary (as defined below) which, together with the
Company, is under common control of a third person or entity. 
 (c) “Applicable Laws” means the legal
requirements relating to the administration of stock option and restricted stock purchase plans, including under applicable U.S. state corporate laws, U.S. federal and applicable state securities laws, other U.S. federal and state laws, the Code,
any Stock Exchange rules or regulations and the applicable laws, rules and regulations of any other country or jurisdiction where Options or Stock Purchase Rights are granted under the Plan, as such laws, rules, regulations and requirements shall be
in place from time to time. 
 (d) “Board” means the Board of Directors of the Company. 

(e) “Cause” for termination of a Participant’s Continuous Service Status will exist if the
Participant is terminated by the Company for any of the following reasons: (i) Participant’s willful failure substantially to perform his or her duties and responsibilities to the Company or deliberate violation of a Company policy;
(ii) Participant’s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably expected to result in material injury to the Company; (iii) unauthorized use or disclosure by
Participant of any proprietary information or trade secrets of the Company or any other party to whom the Participant owes an obligation of nondisclosure as a result of his or her relationship with the Company; or (iv) Participant’s
willful breach of any of his or her obligations under any written agreement or covenant with the Company. The determination as to whether a Participant is being terminated for Cause shall be made in good faith by the Company and shall be final and
binding on the Participant. The foregoing definition does not in any way limit the Company’s ability to terminate a Participant’s employment or consulting relationship at any time as provided in Section 5(d) below, and the term
“Company” will be interpreted to include any Subsidiary, Parent or Affiliate, as appropriate. 
 (f)
“Change of Control” means (1) a sale of all or substantially all of the Company’s assets, or (2) any merger, consolidation or other business combination transaction of the Company with or into
another corporation, entity or person, other than a transaction in which the holders of at least a majority of the shares of voting capital stock of the Company outstanding immediately prior to such transaction continue to hold (either by such
shares remaining outstanding or by their being converted into shares of voting capital stock of the surviving entity) a majority of the total voting power represented by the shares of voting capital stock of the Company (or the surviving entity)
outstanding immediately after such transaction, or (3) the direct or indirect acquisition (including by way of a tender or exchange offer) by any person, or persons acting as a group, of beneficial

 
ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares of capital stock of the Company. Notwithstanding the
foregoing, a Change of Control shall not be deemed to occur (A) on account of the acquisition of shares of voting capital stock by any institutional investor or any affiliate thereof or any other person, or persons acting as a group, that
acquires the Company’s shares of voting capital stock in a transaction or series of related transactions that are primarily a private financing transaction for the Company or (B) solely because the level of ownership held by any
institutional investor or any affiliate thereof or any other person, or persons acting as a group (the “Subject Person”), exceeds the designated percentage threshold of the outstanding shares of voting capital stock as a result of a
repurchase or other acquisition of shares of voting capital stock by the Company reducing the number of shares outstanding, provided that if a Change of Control would occur (but for the operating of this sentence) as a result of the acquisition of
shares of voting capital stock by the Company, and after such share acquisition, the Subject Person becomes the owner of any additional shares of voting capital stock that, assuming the repurchase or other acquisition had not occurred, increases the
percentage of the then outstanding shares of voting capital stock owned by such Subject Person over the designated percentage threshold, then a Change of Control shall be deemed to occur. 

(g) “Code” means the Internal Revenue Code of 1986, as amended. 

(h) “Committee” means one or more committees or subcommittees of the Board appointed by the Board to administer
the Plan in accordance with Section 4 below. 
 (i) “Common Stock” means the Common Stock of the
Company. 
 (j) “Company” means Synageva BioPharma Corp., a Delaware corporation. 

(k) “Consultant” means any person, including an advisor, who is engaged by the Company or any Parent, Subsidiary
or Affiliate to render services and is compensated for such services, and any director of the Company whether compensated for such services or not. 
 (l) “Continuous Service Status” means the absence of any interruption or termination of service as an Employee or Consultant. Continuous Service Status as an Employee or Consultant
shall not be considered interrupted in the case of: (i) sick leave; (ii) military leave; (iii) any other leave of absence approved by the Administrator, provided that such leave is for a period of not more than ninety (90) days,
unless reemployment upon the expiration of such leave is guaranteed by contract or statute, or unless provided otherwise pursuant to Company policy adopted from time to time; or (iv) in the case of transfers between locations of the Company or
between the Company, its Parents, Subsidiaries, Affiliates or their respective successors. A change in status from an Employee to a Consultant or from a Consultant to an Employee will not constitute an interruption of Continuous Service Status.

 (m) “Corporate Transaction” means a sale of all or substantially all of the Company’s assets, or
a merger, consolidation or other capital reorganization or business combination transaction of the Company with or into another corporation, entity or person, or the direct or indirect acquisition (including by way of a tender or exchange offer) by
any person, or persons acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares of capital stock of the Company. 

(n) “Director” means a member of the Board. 

(o) “Employee” means any person employed by the Company or any Parent, Subsidiary or Affiliate, with the status
of employment determined based upon such factors as are deemed appropriate by the Administrator in its discretion, subject to any requirements of the Code or the Applicable Laws. The payment by the Company of a director’s fee to a Director
shall not be sufficient to constitute “employment” of such Director by the Company. 

 (p) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 (q) “Fair Market Value” means, as of any date, the fair market value of the Common Stock, as
determined by the Administrator in good faith on such basis as it deems appropriate and applied consistently with respect to Participants. Whenever possible, the determination of Fair Market Value shall be based upon the closing price for the Shares
as reported in the Wall Street Journal for the applicable date. 
 (r) “Incentive Stock Option”
means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code, as designated in the applicable Option Agreement. 
 (t) “Listed Security” means any security of the Company that is listed or approved for listing on a national securities exchange or designated or approved for
designation as a national market system security on an interdealer quotation system by the National Association of Securities Dealers, Inc. 
 (u) “Named Executive” means any individual who, on the last day of the Company’s fiscal year, is the chief executive officer of the Company (or is acting in such capacity) or
among the four most highly compensated officers of the Company (other than the chief executive officer). Such officer status shall be determined pursuant to the executive compensation disclosure rules under the Exchange Act. 

(v) “Nonstatutory Stock Option” means an Option not intended to qualify as an Incentive Stock Option, as
designated in the applicable Option Agreement. 
 (w) “Option” means a stock option granted pursuant to
the Plan. 
 (x) “Option Agreement” means a written document, the form(s) of which shall be approved
from time to time by the Administrator, reflecting the terms of an Option granted under the Plan and includes any documents attached to or incorporated into such Option Agreement, including, but not limited to, a notice of stock option grant and a
form of exercise notice. 
 (y) “Option Exchange Program” means a program approved by the Administrator
whereby outstanding Options are exchanged for Options with a lower exercise price or are amended to decrease the exercise price as a result of a decline in the Fair Market Value of the Common Stock. 

(z) “Optioned Stock” means the Common Stock subject to an Option. 

(aa) “Optionee” means an Employee or Consultant who receives an Option. 

(bb) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code, or any successor provision. 
 (cc) “Participant” means any holder of
one or more Options or Stock Purchase Rights, or the Shares issuable or issued upon exercise of such awards, under the Plan. 

(dd) “Plan” means this 2005 Stock Plan. 
 (ee) “Reporting Person” means an officer, Director, or greater than ten percent stockholder of the Company within the meaning of Rule 16a-2 under the Exchange Act, who is required
to file reports pursuant to Rule 16a-3 under the Exchange Act. 
 (ff) “Restricted Stock” means Shares
of Common Stock acquired pursuant to a grant of a Stock Purchase Right under Section 10 below. 
 (gg)
“Restricted Stock Purchase Agreement” means a written document, the form(s) of which shall be approved from time to time by the Administrator, reflecting the terms of a Stock Purchase Right granted under the Plan and includes
any documents attached to such agreement. 

 (hh) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange
Act, as amended from time to time, or any successor provision. 
 (ii) “Share” means a share of the
Common Stock, as adjusted in accordance with Section 13 of the Plan. 
 (jj) “Stock Exchange” means
any stock exchange or consolidated stock price reporting system on which prices for the Common Stock are quoted at any given time. 
 (kk) “Stock Purchase Right” means the right to purchase Common Stock pursuant to Section 10 below. 
 (ll) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code, or any successor provision.

 (mm) “Ten Percent Holder” means a person who owns stock representing more than ten percent
(10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary. 
 3. Stock Subject to
the Plan. Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be sold under the Plan is 3,428,715 Shares of Common Stock. The Shares may be authorized, but unissued, or reacquired Common
Stock. If an award should expire or become unexercisable for any reason without having been exercised in full, or is surrendered pursuant to an Option Exchange Program, the unpurchased Shares that were subject thereto shall, unless the Plan shall
have been terminated, become available for future grant under the Plan. In addition, any Shares of Common Stock which are retained by the Company upon exercise of an award in order to satisfy the exercise or purchase price for such award or any
withholding taxes due with respect to such exercise or purchase shall be treated as not issued and shall continue to be available under the Plan. Shares issued under the Plan and later repurchased by the Company pursuant to any repurchase right
which the Company may have shall be available for future grant under the Plan. 
 4. Administration of the
Plan. 
 (a) General. The Plan shall be administered by the Board or a Committee, or a combination
thereof, as determined by the Board. The Plan may be administered by different administrative bodies with respect to different classes of Participants and, if permitted by the Applicable Laws, the Board may authorize one or more officers to make
awards under the Plan. 
 (b) Committee Composition. If a Committee has been appointed pursuant to this
Section 4, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. From time to time the Board may increase the size of any Committee and appoint additional members thereof, remove members (with
or without cause) and appoint new members in substitution therefor, fill vacancies (however caused) and remove all members of a Committee and thereafter directly administer the Plan, all to the extent permitted by the Applicable Laws and, in the
case of a Committee administering the Plan in accordance with the requirements of Rule 16b-3 or Section 162(m) of the Code, to the extent permitted or required by such provisions. The Committee shall in all events conform to any requirements of
the Applicable Laws. 
 (c) Powers of the Administrator. Subject to the provisions of the Plan and in the case of
a Committee, the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: 
 (i) to determine the Fair Market Value of the Common Stock, in accordance with Section 2(q) of the Plan, provided that such determination shall be applied consistently with respect to Participants
under the Plan; 

 (ii) to select the Employees and Consultants to whom Plan awards may from time to time be
granted; 
 (iii) to determine whether and to what extent Plan awards are granted; 

(iv) to determine the number of Shares of Common Stock to be covered by each award granted; 

(v) to approve the form(s) of agreement(s) used under the Plan; 

(vi) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any award granted hereunder, which terms and
conditions include but are not limited to the exercise or purchase price, the time or times when awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, any pro rata
adjustment to vesting as a result of a Participant’s transitioning from full- to part-time service (or vice versa), and any restriction or limitation regarding any Option, Optioned Stock, Stock Purchase Right or Restricted Stock, based in each
case on such factors as the Administrator, in its sole discretion, shall determine; 
 (vii) to determine whether and under
what circumstances an Option may be settled in cash under Section 8(b) instead of Common Stock; 
 (viii) to implement an
Option Exchange Program on such terms and conditions as the Administrator in its discretion deems appropriate, provided that no amendment or adjustment to an Option that would materially and adversely affect the rights of any Optionee shall be made
without the prior written consent of the Optionee; 
 (ix) to adjust the vesting of an Option held by an Employee or Consultant
as a result of a change in the terms or conditions under which such person is providing services to the Company; 
 (x) to
construe and interpret the terms of the Plan and awards granted under the Plan, which constructions, interpretations and decisions shall be final and binding on all Participants; and 

(xi) in order to fulfill the purposes of the Plan and without amending the Plan, to modify grants of Options or Stock Purchase Rights to
Participants who are foreign nationals or employed outside of the United States in order to recognize differences in local law, tax policies or customs. 
 5. Eligibility. 
 (a) Recipients of Grants.
Nonstatutory Stock Options and Stock Purchase Rights may be granted to Employees and Consultants. Incentive Stock Options may be granted only to Employees, provided that Employees of Affiliates shall not be eligible to receive Incentive Stock
Options. 
 (b) Type of Option. Each Option shall be designated in the Option Agreement as either an Incentive
Stock Option or a Nonstatutory Stock Option. 
 (c) ISO $100,000 Limitation. Notwithstanding any designation under
Section 5(b), to the extent that the aggregate Fair Market Value of Shares with respect to which Options designated as Incentive Stock Options are exercisable for the first time by any Optionee during any calendar year (under all plans of the
Company or any Parent or Subsidiary) exceeds $100,000, such excess Options shall be treated as Nonstatutory Stock Options. For purposes of this Section 5(c), Incentive Stock Options shall be taken into account in the order in which they were
granted, and the Fair Market Value of the Shares subject to an Incentive Stock Option shall be determined as of the date of the grant of such Option. 

 (d) No Employment Rights. The Plan shall not confer upon any Participant any
right with respect to continuation of an employment or consulting relationship with the Company, nor shall it interfere in any way with such Participant’s right or the Company’s right to terminate the employment or consulting relationship
at any time for any reason. 
 6. Term of Plan. The Plan shall become effective upon its adoption by the Board of
Directors. It shall continue in effect for a term of ten (10) years unless sooner terminated under Section 15 of the Plan. 
 7. Term of Option. The term of each Option shall be the term stated in the Option Agreement; provided that the term shall be no more than ten years from the date of grant thereof or
such shorter term as may be provided in the Option Agreement and provided further that, in the case of an Incentive Stock Option granted to a person who at the time of such grant is a Ten Percent Holder, the term of the Option shall be five years
from the date of grant thereof or such shorter term as may be provided in the Option Agreement. 
 8. Option Exercise
Price and Consideration. 
 (a) Exercise Price. The per Share exercise price for the Shares to be
issued pursuant to exercise of an Option shall be such price as is determined by the Administrator and set forth in the Option Agreement, but shall be subject to the following: 

(i) In the case of an Incentive Stock Option 
 (A) granted to an Employee who at the time of grant is a Ten Percent Holder, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant; or 

(B) granted to any other Employee, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the
date of grant. 
 (ii) In the case of a Nonstatutory Stock Option 

(A) granted on any date on which the Common Stock is not a Listed Security to a person who is at the time of grant is a Ten Percent
Holder, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant if required by the Applicable Laws and, if not so required, shall be such price as is determined by the Administrator;

 (B) granted on any date on which the Common Stock is not a Listed Security to any other eligible person, the per Share
exercise price shall be no less than 85% of the Fair Market Value per Share on the date of grant if required by the Applicable Laws and, if not so required, shall be such price as is determined by the Administrator; or 

(C) granted on any date on which the Common Stock is a Listed Security to any eligible person, the per share Exercise Price shall be
such price as determined by the Administrator provided that if such eligible person is, at the time of the grant of such Option, a Named Executive of the Company, the per share Exercise Price shall be no less than 100% of the Fair Market Value on
the date of grant if such Option is intended to qualify as performance-based compensation under Section 162(m) of the Code. 
 (iii) Notwithstanding the foregoing, Options may be granted with a per Share exercise price other than as required above pursuant to a merger or other corporate transaction. 

(b) Permissible Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option,
including the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined at the time of grant) and may consist entirely of (1) cash; (2) check; (3) subject to any
requirements of the Applicable Laws (including without limitation Section 153 of the Delaware 

 
General Corporation Law), delivery of Optionee’s promissory note having such recourse, interest, security and redemption provisions as the Administrator determines to be appropriate after
taking into account the potential accounting consequences of permitting an Optionee to deliver a promissory note; (4) cancellation of indebtedness; (5) other Shares that have a Fair Market Value on the date of surrender equal to the
aggregate exercise price of the Shares as to which the Option is exercised, provided that in the case of Shares acquired, directly or indirectly, from the Company, such Shares must have been owned by the Optionee for more than six months on the date
of surrender (or such other period as may be required to avoid the Company’s incurring an adverse accounting charge); (6) if, as of the date of exercise of an Option the Company then is permitting employees to engage in a “same-day
sale” cashless brokered exercise program involving one or more brokers, through such a program that complies with the Applicable Laws (including without limitation the requirements of Regulation T and other applicable regulations promulgated by
the Federal Reserve Board) and that ensures prompt delivery to the Company of the amount required to pay the exercise price and any applicable withholding taxes; or (7) any combination of the foregoing methods of payment. In making its
determination as to the type of consideration to accept, the Administrator shall consider if acceptance of such consideration may be reasonably expected to benefit the Company and the Administrator may, in its sole discretion, refuse to accept a
particular form of consideration at the time of any Option exercise. 
 9. Exercise of Option. 

(a) General. 
 (i) Exercisability. Any Option granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator, consistent with the term of the Plan and
reflected in the Option Agreement, including vesting requirements and/or performance criteria with respect to the Company and/or the Optionee; provided however that, if required under the Applicable Laws, the Option (or Shares issued upon exercise
of the Option) shall comply with the requirements of Section 260.140.41(f) and (k) of the Rules of the California Corporations Commissioner. 
 (ii) Leave of Absence. The Administrator shall have the discretion to determine whether and to what extent the vesting of Options shall be tolled during any unpaid leave of absence;
provided, however, that in the absence of such determination, vesting of Options shall be tolled during any such unpaid leave (unless otherwise required by the Applicable Laws). In the event of military leave, vesting shall toll during any unpaid
portion of such leave, provided that, upon a Participant’s returning from military leave (under conditions that would entitle him or her to protection upon such return under the Uniform Services Employment and Reemployment Rights Act), he or
she shall be given vesting credit with respect to Options to the same extent as would have applied had the Participant continued to provide services to the Company throughout the leave on the same terms as he or she was providing services
immediately prior to such leave. 
 (iii) Minimum Exercise Requirements. An Option may not be exercised for a
fraction of a Share. The Administrator may require that an Option be exercised as to a minimum number of Shares, provided that such requirement shall not prevent an Optionee from exercising the full number of Shares as to which the Option is then
exercisable. 
 (iv) Procedures for and Results of Exercise. An Option shall be deemed exercised when written
notice of such exercise has been given to the Company in accordance with the terms of the Option by the person entitled to exercise the Option and the Company has received full payment for the Shares with respect to which the Option is exercised.
Full payment may, as authorized by the Administrator, consist of any consideration and method of payment allowable under Section 8(b) of the Plan, provided that the Administrator may, in its sole discretion, refuse to accept any form of
consideration at the time of any Option exercise. 
 Exercise of an Option in any manner shall result in a decrease in the
number of Shares that thereafter may be available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 

 (v) Rights as Stockholder. Until the issuance of the Shares (as evidenced by
the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Optioned Stock, notwithstanding the
exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 13 of the Plan. 

(b) Termination of Employment or Consulting Relationship. Except as otherwise set forth in this Section 9(b), the
Administrator shall establish and set forth in the applicable Option Agreement the terms and conditions upon which an Option shall remain exercisable, if at all, following termination of an Optionee’s Continuous Service Status, which provisions
may be waived or modified by the Administrator at any time. Unless the Administrator otherwise provides in the Option Agreement, to the extent that the Optionee is not vested in Optioned Stock at the date of termination of his or her Continuous
Service Status, or if the Optionee (or other person entitled to exercise the Option) does not exercise the Option to the extent so entitled within the time specified in the Option Agreement or below (as applicable), the Option shall terminate and
the Optioned Stock underlying the unexercised portion of the Option shall revert to the Plan. In no event may any Option be exercised after the expiration of the Option term as set forth in the Option Agreement (and subject to Section 7).

 The following provisions (1) shall apply to the extent an Option Agreement does not specify the terms and conditions
upon which an Option shall terminate upon termination of an Optionee’s Continuous Service Status, and (2) establish the minimum post-termination exercise periods that may be set forth in an Option Agreement: 

(i) Termination other than Upon Disability or Death. In the event of termination of Optionee’s Continuous Service
Status other than under the circumstances set forth in subsections (ii) through (iv) below, such Optionee may exercise an Option for 30 days following such termination to the extent the Optionee was vested in the Optioned Stock as of the
date of such termination. No termination shall be deemed to occur and this Section 9(b)(i) shall not apply if (i) the Optionee is a Consultant who becomes an Employee, or (ii) the Optionee is an Employee who becomes a Consultant.

 (ii) Disability of Optionee. In the event of termination of an Optionee’s Continuous Service Status as a
result of his or her disability (including a disability within the meaning of Section 22(e)(3) of the Code), such Optionee may exercise an Option at any time within six months following such termination to the extent the Optionee was vested in
the Optioned Stock as of the date of such termination. 
 (iii) Death of Optionee. In the event of the death of
an Optionee during the period of Continuous Service Status since the date of grant of the Option, or within thirty days following termination of Optionee’s Continuous Service Status, the Option may be exercised by Optionee’s estate or by a
person who acquired the right to exercise the Option by bequest or inheritance at any time within twelve months following the date of death, but only to the extent the Optionee was vested in the Optioned Stock as of the date of death or, if earlier,
the date the Optionee’s Continuous Service Status terminated. 
 (iv) Termination for Cause. In the
event of termination of an Optionee’s Continuous Service Status for Cause, any Option (including any exercisable portion thereof) held by such Optionee shall immediately terminate in its entirety upon first notification to the Optionee of
termination of the Optionee’s Continuous Service Status. If an Optionee’s employment or consulting relationship with the Company is suspended pending an investigation of whether the Optionee shall be terminated for Cause, all the
Optionee’s rights under any Option likewise shall be suspended during the investigation period and the Optionee shall have no right to exercise any Option. This Section 9(b)(iv) shall apply with equal effect to vested Shares acquired upon
exercise of an Option granted on any date on which the Common Stock is not a Listed Security to a person other than an officer, Director or Consultant, in that the Company shall have the right to repurchase such Shares from the Participant upon the
following terms: (A) the repurchase is made within 90 days of termination of the Participant’s Continuous Service Status for Cause at the Fair Market Value of the Shares as of the date of

 
termination, (B) consideration for the repurchase consists of cash or cancellation of purchase money indebtedness, and (C) the repurchase right terminates upon the effective date of the
Company’s initial public offering of its Common Stock. With respect to vested Shares issued upon exercise of an Option granted to any officer, Director or Consultant, the Company’s right to repurchase such Shares upon termination of the
Participant’s Continuous Service Status for Cause shall be made at the Participant’s original cost for the Shares and shall be effected pursuant to such terms and conditions, and at such time, as the Administrator shall determine. Nothing
in this Section 9(b)(iv) shall in any way limit the Company’s right to purchase unvested Shares issued upon exercise of an Option as set forth in the applicable Option Agreement. 

(c) Buyout Provisions. The Administrator may at any time offer to buy out for a payment in cash or Shares an Option
previously granted under the Plan based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such offer is made. 
 10. Stock Purchase Rights. 
 (a) Rights to
Purchase. When the Administrator determines that it will offer Stock Purchase Rights under the Plan, it shall advise the offeree in writing of the terms, conditions and restrictions related to the offer, including the number of Shares that
such person shall be entitled to purchase, the price to be paid, and the time within which such person must accept such offer. In the case of a Stock Purchase Right granted prior to the date, if any, on which the Common Stock becomes a Listed
Security and if required by the Applicable Laws at that time, the purchase price of Shares subject to such Stock Purchase Rights shall not be less than 85% of the Fair Market Value of the Shares as of the date of the offer, or, in the case of a Ten
Percent Holder, the price shall not be less than 100% of the Fair Market Value of the Shares as of the date of the offer. If the Applicable Laws do not impose the requirements set forth in the preceding sentence and with respect to any Stock
Purchase Rights granted after the date, if any, on which the Common Stock becomes a Listed Security, the purchase price of Shares subject to Stock Purchase Rights shall be as determined by the Administrator. The offer to purchase Shares subject to
Stock Purchase Rights shall be accepted by execution of a Restricted Stock Purchase Agreement in the form determined by the Administrator. 
 (b) Repurchase Option. 
 (i) General. Unless
the Administrator determines otherwise, the Restricted Stock Purchase Agreement shall grant the Company a repurchase option exercisable upon the voluntary or involuntary termination of the purchaser’s employment with the Company for any reason
(including death or disability). Subject to any requirements of the Applicable Laws (including without limitation Section 260.140.42(h) of the Rules of the California Corporations Commissioner), the terms of the Company’s repurchase option
(including without limitation the price at which, and the consideration for which, it may be exercised, and the events upon which it shall lapse) shall be as determined by the Administrator in its sole discretion and reflected in the Restricted
Stock Purchase Agreement. 
 (ii) Leave of Absence. The Administrator shall have the discretion to determine
whether and to what extent the lapsing of Company repurchase rights shall be tolled during any unpaid leave of absence; provided, however, that in the absence of such determination, such lapsing shall be tolled during any such unpaid leave (unless
otherwise required by the Applicable Laws). In the event of military leave, the lapsing of Company repurchase rights shall toll during any unpaid portion of such leave, provided that, upon a Participant’s returning from military leave (under
conditions that would entitle him or her to protection upon such return under the Uniform Services Employment and Reemployment Rights Act), he or she shall be given “vesting” credit with respect to Shares purchased pursuant to the
Restricted Stock Purchase Agreement to the same extent as would have applied had the Participant continued to provide services to the Company throughout the leave on the same terms as he or she was providing services immediately prior to such leave.

 (iii) Termination for Cause. In the event of termination of a Participant’s Continuous Service
Status for Cause, the Company shall have the right to repurchase from the Participant vested Shares issued upon 

 
exercise of a Stock Purchase Right granted to any person other than an officer, Director or Consultant prior to the date, if any, upon which the Common Stock becomes a Listed Security upon the
following terms: (A) the repurchase must be made within 90 days of termination of the Participant’s Continuous Service Status for Cause at the Fair Market Value of the Shares as of the date of termination, (B) consideration for the
repurchase consists of cash or cancellation of purchase money indebtedness, and (C) the repurchase right terminates upon the effective date of the Company’s initial public offering of its Common Stock. With respect to vested Shares issued
upon exercise of a Stock Purchase Right granted to any officer, Director or Consultant, the Company’s right to repurchase such Shares upon termination of such Participant’s Continuous Service Status for Cause shall be made at the
Participant’s original cost for the Shares and shall be effected pursuant to such terms and conditions, and at such time, as the Administrator shall determine. Nothing in this Section 10(b)(ii) shall in any way limit the Company’s
right to purchase unvested Shares as set forth in the applicable Restricted Stock Purchase Agreement. 
 (c) Other
Provisions. The Restricted Stock Purchase Agreement shall contain such other terms, provisions and conditions not inconsistent with the Plan as may be determined by the Administrator in its sole discretion. In addition, the provisions of
Restricted Stock Purchase Agreements need not be the same with respect to each purchaser. 
 (d) Rights as a
Stockholder. Once the Stock Purchase Right is exercised, the purchaser shall have the rights equivalent to those of a stockholder, and shall be a stockholder when his or her purchase is entered upon the records of the duly authorized
transfer agent of the Company. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Stock Purchase Right is exercised, except as provided in Section 13 of the Plan. 

11. Taxes. 
 (a) As a condition of the grant, vesting or exercise of an Option or Stock Purchase Right granted under the Plan, the Participant (or in the case of the Participant’s death, the person exercising the
Option or Stock Purchase Right) shall make such arrangements as the Administrator may require for the satisfaction of any applicable federal, state, local or foreign withholding tax obligations that may arise in connection with such grant, vesting
or exercise of the Option or Stock Purchase Right or the issuance of Shares. The Company shall not be required to issue any Shares under the Plan until such obligations are satisfied. If the Administrator allows the withholding or surrender of
Shares to satisfy a Participant’s tax withholding obligations under this Section 11 (whether pursuant to Section 9(c) or (d), or otherwise), the Administrator shall not allow Shares to be withheld in an amount that exceeds the minimum
statutory withholding rates for federal and state tax purposes, including payroll taxes. 
 (b) In the case of an Employee and
in the absence of any other arrangement, the Employee shall be deemed to have directed the Company to withhold or collect from his or her compensation an amount sufficient to satisfy such tax obligations from the next payroll payment otherwise
payable after the date of an exercise of the Option or Stock Purchase Right. 
 (c) This Section 11(c) shall apply only
after the date, if any, upon which the Common Stock becomes a Listed Security. In the case of Participant other than an Employee (or in the case of an Employee where the next payroll payment is not sufficient to satisfy such tax obligations, with
respect to any remaining tax obligations), in the absence of any other arrangement and to the extent permitted under the Applicable Laws, the Participant shall be deemed to have elected to have the Company withhold from the Shares to be issued upon
exercise of the Option or Stock Purchase Right that number of Shares having a Fair Market Value determined as of the applicable Tax Date (as defined below) equal to the amount required to be withheld. For purposes of this Section 11, the Fair
Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined under the Applicable Laws (the “Tax Date”). 

 (d) If permitted by the Administrator, in its discretion, a Participant may satisfy his or
her tax withholding obligations upon exercise of an Option or Stock Purchase Right by surrendering to the Company Shares that have a Fair Market Value determined as of the applicable Tax Date equal to the amount required to be withheld. In the case
of shares previously acquired from the Company that are surrendered under this Section 11(d), such Shares must have been owned by the Participant for more than six (6) months on the date of surrender (or such other period of time as is
required for the Company to avoid adverse accounting charges). 
 (e) Any election or deemed election by a Participant to have
Shares withheld to satisfy tax withholding obligations under Section 11(c) or (d) above shall be irrevocable as to the particular Shares as to which the election is made and shall be subject to the consent or disapproval of the
Administrator. Any election by a Participant under Section 11(d) above must be made on or prior to the applicable Tax Date. 
 (f) In the event an election to have Shares withheld is made by a Participant and the Tax Date is deferred under Section 83 of the Code because no election is filed under Section 83(b) of the
Code, the Participant shall receive the full number of Shares with respect to which the Option or Stock Purchase Right is exercised but such Participant shall be unconditionally obligated to tender back to the Company the proper number of Shares on
the Tax Date. 
 12. Non-Transferability of Options and Stock Purchase Rights. 

(a) General. Except as set forth in this Section 12, Options and Stock Purchase Rights may not be sold, pledged,
assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution. The designation of a beneficiary by an Optionee will not constitute a transfer. An Option or Stock Purchase Right may be
exercised, during the lifetime of the holder of an Option or Stock Purchase Right, only by such holder or a transferee permitted by this Section 12. 
 (b) Limited Transferability Rights. Notwithstanding anything else in this Section 12, the Administrator may in its discretion grant Nonstatutory Stock Options that may be transferred by
instrument to an inter vivos or testamentary trust in which the Options are to be passed to beneficiaries upon the death of the trustor (settlor) or by gift or pursuant to domestic relations orders to “Immediate Family Members” (as defined
below) of the Optionee. “Immediate Family” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law, or sister-in-law (including adoptive relationships), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which these persons (or the Optionee) control the management of assets, and
any other entity in which these persons (or the Optionee) own more than fifty percent of the voting interests. 
 13.
Adjustments Upon Changes in Capitalization, Merger or Certain Other Transactions. 
 (a) Changes in
Capitalization. Subject to any action required under Applicable Laws by the stockholders of the Company, the number of Shares of Common Stock covered by each outstanding award, and the number of Shares of Common Stock that have been
authorized for issuance under the Plan but as to which no awards have yet been granted or that have been returned to the Plan upon cancellation or expiration of an award, as well as the price per Share of Common Stock covered by each such
outstanding award, shall be proportionately adjusted for any increase or decrease in the number of issued Shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination, recapitalization or reclassification of
the Common Stock, or any other increase or decrease in the number of issued Shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be
deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no
issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Shares of Common Stock
subject to an award. 

 (b) Dissolution or Liquidation. In the event of the dissolution or liquidation
of the Company, each Option and Stock Purchase Right will terminate immediately prior to the consummation of such action, unless otherwise determined by the Administrator. 
 (c) Corporate Transaction. In the event of a Corporate Transaction (including without limitation a Change of Control), unless otherwise determined by the Board of Directors or provided in
the Option Agreement, each outstanding Option or Stock Purchase Right shall be assumed or an equivalent option or right shall be substituted by such successor corporation or a parent or subsidiary of such successor corporation (the
“Successor Corporation”), unless the Successor Corporation does not agree to assume the award or to substitute an equivalent option or right, in which case such Option or Stock Purchase Right shall terminate upon the consummation of
the transaction. 
 For purposes of this Section 13(c), an Option or a Stock Purchase Right shall be considered assumed,
without limitation, if, at the time of issuance of the stock or other consideration upon a Corporate Transaction or a Change of Control, as the case may be, each holder of an Option or Stock Purchase Right would be entitled to receive upon exercise
of the award the same number and kind of shares of stock or the same amount of property, cash or securities as such holder would have been entitled to receive upon the occurrence of the transaction if the holder had been, immediately prior to such
transaction, the holder of the number of Shares of Common Stock covered by the award at such time (after giving effect to any adjustments in the number of Shares covered by the Option or Stock Purchase Right as provided for in this Section 13);
provided that if such consideration received in the transaction is not solely common stock of the Successor Corporation, the Administrator may, with the consent of the Successor Corporation, provide for the consideration to be received upon exercise
of the award to be solely common stock of the Successor Corporation equal to the Fair Market Value of the per Share consideration received by holders of Common Stock in the transaction. 

(d) Certain Distributions. In the event of any distribution to the Company’s stockholders of securities of any other
entity or other assets (other than dividends payable in cash or stock of the Company) without receipt of consideration by the Company, the Administrator may, in its discretion, appropriately adjust the price per Share of Common Stock covered by each
outstanding Option or Stock Purchase Right to reflect the effect of such distribution. 
 14. Time of Granting Options and
Stock Purchase Rights. The date of grant of an Option or Stock Purchase Right shall, for all purposes, be the date on which the Administrator makes the determination granting such Option or Stock Purchase Right, or such other date as is
determined by the Administrator, provided that in the case of any Incentive Stock Option, the grant date shall be the later of the date on which the Administrator makes the determination granting such Incentive Stock Option or the date of
commencement of the Optionee’s employment relationship with the Company. Notice of the determination shall be given to each Employee or Consultant to whom an Option or Stock Purchase Right is so granted within a reasonable time after the date
of such grant. 
 15. Amendment and Termination of the Plan. 

(a) Authority to Amend or Terminate. The Board may at any time amend, alter, suspend or discontinue the Plan, but no
amendment, alteration, suspension or discontinuation (other than an adjustment pursuant to Section 13 above) shall be made that would materially and adversely affect the rights of any Optionee or holder of Stock Purchase Rights under any
outstanding grant, without his or her consent. In addition, to the extent necessary and desirable to comply with the Applicable Laws, the Company shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as
required. 
 (b) Effect of Amendment or Termination. Except as to amendments which the Administrator has the
authority under the Plan to make unilaterally, no amendment or termination of the Plan shall materially and adversely affect Options or Stock Purchase Rights already granted, unless mutually agreed otherwise between the Optionee or holder of the
Stock Purchase Rights and the Administrator, which agreement must be in writing and signed by the Optionee or holder and the Company. 

 16. Conditions Upon Issuance of Shares. Notwithstanding any other provision of
the Plan or any agreement entered into by the Company pursuant to the Plan, the Company shall not be obligated, and shall have no liability for failure, to issue or deliver any Shares under the Plan unless such issuance or delivery would comply with
the Applicable Laws, with such compliance determined by the Company in consultation with its legal counsel. As a condition to the exercise of an Option or Stock Purchase Right, the Company may require the person exercising the award to represent and
warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by
law. Shares issued upon exercise of awards granted prior to the date on which the Common Stock becomes a Listed Security shall be subject to a right of first refusal in favor of the Company pursuant to which the Participant will be required to offer
Shares to the Company before selling or transferring them to any third party on such terms and subject to such conditions as is reflected in the applicable Option Agreement or Restricted Stock Purchase Agreement. 

17. Reservation of Shares. The Company, during the term of this Plan, will at all times reserve and keep available such
number of Shares as shall be sufficient to satisfy the requirements of the Plan. 
 18. Agreements. Options and
Stock Purchase Rights shall be evidenced by Option Agreements and Restricted Stock Purchase Agreements, respectively, in such form(s) as the Administrator shall from time to time approve. 

19. Stockholder Approval. If required by the Applicable Laws, continuance of the Plan shall be subject to approval by the
stockholders of the Company within twelve (12) months before or after the date the Plan is adopted. Such stockholder approval shall be obtained in the manner and to the degree required under the Applicable Laws. 

20. Information and Documents to Optionees and Purchasers. Prior to the date, if any, upon which the Common Stock becomes a
Listed Security and if required by the Applicable Laws, the Company shall provide financial statements at least annually to each Optionee and to each individual who acquired Shares pursuant to the Plan, during the period such Optionee or purchaser
has one or more Options or Stock Purchase Rights outstanding, and in the case of an individual who acquired Shares pursuant to the Plan, during the period such individual owns such Shares. The Company shall not be required to provide such
information if the issuance of Options or Stock Purchase Rights under the Plan is limited to key employees whose duties in connection with the Company assure their access to equivalent information.

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