Document:

Participant Agreement dated as of March 25, 2010

 Exhibit 4.3 

CURRENCYSHARESsm SINGAPORE DOLLAR TRUST 
 PARTICIPANT AGREEMENT 
 This Participant Agreement (this “Agreement”),
dated as of October 31, 2011, is entered into by and between Knight Execution & Clearing Services LLC (with respect to this Agreement, the “Authorized Participant”, and with respect to the Trust Agreement
referred to below, an “Authorized Participant”), The Bank of New York Mellon, a New York banking corporation, not in its individual capacity but solely as trustee (the “Trustee”) of the Trust (the
“Trust”), and Rydex Specialized Products LLC, d/b/a Rydex Investments, as sponsor (the “Sponsor”) of the Trust. 
 SUMMARY 
 The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust
Agreement dated as of August 16, 2011 between the Sponsor and the Trustee (the “Trust Agreement”). As provided in the Trust Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial
interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of fifty thousand (50,000) Shares (each aggregation, a “Basket”).
Baskets are offered only pursuant to the registration statement of the Trust on Form S-1, as amended (Registration No: 333-150684), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be
amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) adopted under
the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust Agreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants under the Trust Agreement, only through the
facilities of The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Singapore Dollars that is transferred between such Authorized Participant and the Trust. Under the Trust Agreement,
the Trustee issues Baskets in exchange for Singapore Dollars which are transferred by an Authorized Participant to the London Branch of JPMorgan Chase Bank, N.A. (the “Depository”), and when the Trustee redeems Baskets tendered for
redemption by an Authorized Participant in exchange for Singapore Dollars, the Singapore Dollars held in the Trust Account are transferred to the Authorized Participant by the Depository. The foregoing Singapore Dollar transfers are also governed by
the Deposit Account Agreement the Trust has entered into with the Depository (the “Deposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets.

 Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a “distribution,” as
such term is used in the 1933 Act, may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner that would render it a statutory underwriter and
subject it to the prospectus-delivery and liability provisions of the 1933 Act The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into
this Agreement and placing an Order (defined below). 
 Capitalized term used but not defined in this Agreement shall have the meanings assigned
to such terms in the Trust Agreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Agreement, the provisions of the Trust Agreement shall control. 

To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as
follows: 
 Section 1. Order Placement. To place orders for the Trustee to create or redeem one or more Baskets, Authorized
Participants must follow the procedures for creation and redemption referred to in Section 3 of this Agreement and the procedures described in Attachment A hereto (the “Procedures”), as each may be amended, modified or
supplemented from time to time. 
 Section 2. Status, Representations and Warranties of the Parties. 

(a) The Authorized Participant represents and warrants and covenants the following on the date hereof and at each time of purchase by the
Authorized Participant of a Basket from the Trust (each such time, the “Time of Purchase”), that: 
 (i) The Authorized
Participant is a participant of DTC (as such a participant, a “DTC Participant”). If the Authorized Participant ceases to be a DTC Participant, the Authorized Participant shall give immediate notice to the Trustee of such event, and
this Agreement shall terminate immediately as of the date the Authorized Participant ceased to be a DTC Participant. 
 (ii)
Unless Section 2(a)(iii) applies, the Authorized Participant either (A) is registered as a broker-dealer under the Securities Exchange Act of 1934, as amended (“1934 Act”), and is a member in good standing of
Financial Industry Regulatory Authority, Inc. (“FINRA”), or (B) is exempt from being, or otherwise is not required to be, licensed as a broker-dealer or a member of FINRA, and

 in either case is qualified to act as a broker or dealer in the states or other
jurisdictions where the nature of its business so requires. In connection with the purchase or redemption of Baskets and any related offers or sales of Shares, the Authorized Participant will maintain any such registrations, qualifications and
membership in good standing and in full force and effect throughout the term of this Agreement. The Authorized Participant will comply with all applicable federal laws, the laws of the states or other jurisdictions concerned, and the rules and
regulations promulgated thereunder, and with the Constitution, By-Laws and the NASD Conduct Rules (if it is a FINRA member), and will not offer or sell Shares in any state or jurisdiction where they may not lawfully be offered and/or sold.

 (iii) If the Authorized Participant is offering or selling Shares in jurisdictions outside the several states, territories and
possessions of the United States and is not otherwise required to be registered, qualified or a member of FINRA as set forth in Section 2(a)(ii) above, the Authorized Participant will, in connection with such offers and sales, (A) observe
the applicable laws of the jurisdiction in which such offer and/or sale is made, (B) comply with the prospectus delivery and other requirements of the 1933 Act, and the regulations promulgated thereunder, and (C) conduct its business in
accordance with the NASD Conduct Rules. 
 (iv) The Authorized Participant is in compliance with the money laundering and related
provisions of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, and the regulations promulgated thereunder (“USA PATRIOT Act”), if the
Authorized Participant is subject to the requirements of the USA PATRIOT Act. 
 (iv) The Authorized Participant has the
capability to send and receive communications via authenticated telecommunication facility to and from the Trustee. The Authorized Participant shall confirm such capability to the satisfaction of the Trustee by the end of the Business Day before
placing its first order with the Trustee (whether such order is to create or to redeem Baskets). 
 (b) The Sponsor represents
and warrants that: 
 (i) on the effective date of the Registration Statement and at each Time of Purchase, the Trust’s
Registration Statement shall be effective and no stop order of the SEC with respect thereto shall have been issued and no proceedings for such purpose shall have been instituted or, to the Sponsor’s knowledge, will then be contemplated by the
SEC; the Registration Statement complies in all material respects with the requirements of the 1933 Act, and the Prospectus complied as of its date, and complies at the Time of Purchase, in all material respects with the requirements of the 1933
Act; and the conditions to the use of Form S-I have been satisfied; the Registration Statement does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, the Prospectus will not, as of its date and at the Time of Purchase, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading and, as of 4:00 p.m. on the date of this Agreement (the “Time of Sale”), the documents comprising the Disclosure Package (as defined below) did
not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading;
provided, however, that the Sponsor makes no warranty or representation with respect to any statement contained in the Registration Statement, the Prospectus or the Disclosure Package in reliance upon and in conformity with information concerning
the Authorized Participant and furnished in writing by or on behalf of the Authorized Participant to the Sponsor expressly for use therein. The “Disclosure Package” is the Prospectus and any amendments and supplements thereto at the
Time of Sale and any free writing prospectus as defined in Rule 405 of the 1933 Act (a “FWP”) prepared by, for or on behalf of the Sponsor before the Time of Sale and intended for general distribution; 

(ii) the Shares, when issued and delivered against payment of consideration therefor, as provided in this Agreement, will be duly and
validly authorized, issued, fully paid and non-assessable and free of statutory and contractual preemptive rights, rights of first refusal and similar rights; 
 (iii) the Sponsor has been duly organized and, on the effective date of the Registration Statement and at each Time of Purchase, will be validly existing as a limited liability company in good

 standing under the laws of the State of Delaware, with full power and authority to act as
the sponsor of the Trust as described in the Registration Statement and the Prospectus, and has all requisite power and authority to execute and deliver this Agreement; and 
 (iv) at the time the Sponsor makes an offer of Shares following the filing of the Registration Statement, neither the Trust nor the Sponsor will be an “ineligible issuer” as defined in Rule 405
of the 1933 Act. 
 Section 3. Orders. 
 (a) All orders to create or redeem Baskets shall be made in accordance with the terms of the Trust Agreement, the Deposit Account Agreement, this Agreement and the Procedures. Each party will comply with
such foregoing terms and procedures to the extent applicable to it. The Authorized Participant hereby consents to the use of recorded telephone lines whether or not such use is reflected in the Procedures The Trustee and Sponsor may issue additional
or other procedures from time to time relating to the manner of creating or redeeming Baskets which are not related to the Procedures, and the Authorized Participant will comply with such procedures of which it has received notice in accordance with
Section 18(c). 
 (b) The Authorized Participant acknowledges and agrees that each order to create a Basket (a
“Purchase Order”) and each order to redeem a Basket (a “Redemption Order”, and each Purchase Order and Redemption Order, an “Order”) may not be revoked by the Authorized Participant upon its
delivery to the Trustee. A form of Purchase Order is attached hereto as Exhibit B and a form of Redemption Order is attached hereto as Exhibit C. Notwithstanding the foregoing, the Trustee agrees to use reasonable efforts to facilitate cancellation
of an Order upon prompt inquiry from the Authorized Participant after placing such Order and only where the written cancellation of the Order has been delivered to the Trustee (by the method permitted for delivery of the Order to the Trustee) not
later than the Order Cut-Off Time, or Early Order Cut-Off Time, as applicable. 
 (c) The delivery of the Shares against deposits
of Singapore Dollars may be suspended generally, or refused with respect to particular requested deliveries, during any period when the transfer books of the Trustee are closed or if any such action is deemed necessary or advisable by the Trustee or
the Sponsor for any reason at any time or from time to time. Except as otherwise provided in the Trust Agreement, the surrender of Shares for purposes of withdrawing Singapore Dollars may not be suspended. 

Section 4. Singapore Dollar Transfers. Any Singapore Dollars to be transferred in connection with any Order shall be transferred between the
Authorized Participant’s account and the Trust’s deposit accounts established for such transfers pursuant to the Deposit Account Agreement (the “Deposit Accounts”) in accordance with the Procedures. The Authorized
Participant shall be responsible for all costs and expenses relating to or connected with any transfer of Singapore Dollars between its account and the Deposit Accounts, including any late fees and other charges, if any, for which the Trustee
becomes responsible in the event that Singapore Dollars are not transferred from the Authorized Participant’s account in accordance with the Procedures. 
 Section 5. Fees. 
 (a) In connection with each Order by an Authorized
Participant to create or redeem one or more Baskets, the Trustee shall charge, and the Authorized Participant shall pay to the Trustee, the transaction fee prescribed in the Trust Agreement applicable to such creation or redemption. The initial
transaction fee shall be five hundred dollars ($500). The transaction fee may be waived or otherwise adjusted from time to time as set forth in the Prospectus. 
 (h) In addition to the fee described in Section 5(a), in connection with each Order by an Authorized Participant to create or redeem two or more Baskets, the Sponsor shall charge, and the Authorized
Participant shall pay to the Sponsor, an additional transaction fee applicable to such creation or redemption. The additional transaction fee shall range from five hundred dollars ($500) to two thousand dollars ($2,000), based on the number of
Baskets created or redeemed per Order. The additional transaction fee may be waived or otherwise adjusted from time to time as set forth in the Prospectus or the Procedures. 
 (c) Remittance of payment for the transaction fees set forth in Sections 5(a) and 5(b) shall be made in accordance with the Procedures. 

 Section 6. Authorized Persons. Concurrently with the execution of this Agreement and from time
to time thereafter, the Authorized Participant shall deliver to the Trustee notarized and duly certified as appropriate by its secretary or other duly authorized official, a certificate in the form of Exhibit A setting forth the names and signatures
of all persons authorized to give instructions relating to activity contemplated hereby or by any other notice, request or instruction given on behalf of the Authorized Participant (each, an “Authorized Person”). The Trustee may
accept and rely upon such certificate as conclusive evidence of the facts set forth therein and shall consider such certificate to be in full force and effect until the Trustee receives a superseding certificate bearing a subsequent date, which
shall be delivered in accordance with the notice provisions set forth in Section I 8(c), but which also may be delivered in PDF format via e-mail with the original concurrently sent to the Trustee by regular mail, postage prepaid. Upon the
termination or revocation of authority of any Authorized Person by the Authorized Participant, the Authorized Participant shall give immediate written notice of such fact to the Trustee and such notice shall be effective upon receipt by the Trustee.
The Trustee shall issue to each Authorized Person a unique personal identification number (the “PIN”) by which such Authorized Person shall be identified and by which instructions issued by the Authorized Participant hereunder shall
be authenticated. The PIN shall be kept confidential by the Authorized Participant and shall only be provided to the Authorized Person. If, after issuance, the Authorized Person’s PIN is changed, the new PIN shall become effective on a date
mutually agreed upon by the Authorized Participant and the Trustee. 
 Section 7. Redemption. The Authorized Participant represents
and warrants that it will not obtain an Order Number (as described in the Procedures) from the Trustee for the purpose of redeeming a Basket unless it first ascertains that (i) it or its customer, as the case may be, owns outright or has full
legal authority and legal and beneficial right to tender for redemption the Baskets to be redeemed and to receive the entire proceeds of the redemption, and (ii) such Baskets have not been loaned or pledged to another party, borrowed or
temporarily obtained from another party and are not the subject of any repurchase agreement, reverse repurchase agreement or securities lending agreement, or any other arrangement which would preclude the delivery of such Baskets to the Trustee on
the third Business Day following the date of the Redemption Order. 
 Section 8. Role of Authorized Participant. 

(a) The Authorized Participant acknowledges that, for all purposes of this Agreement and the Trust Agreement, the Authorized Participant
is and shall be deemed to be an independent contractor and has and shall have no authority to act as agent for the Trust, the Sponsor, the Trustee or the Depository, in any matter or in any respect. 

(b) The Authorized Participant will make itself and its employees available, upon request, during normal business hours to consult with
the Trustee, the Depository or their designees concerning the performance of the Authorized Participant’s responsibilities under this Agreement. 
 (b) The Authorized Participant will maintain records of all sales of Shares made by or through it as required by law and will furnish copies of such records to the Sponsor upon the reasonable request of
the Sponsor, subject to any privacy or confidentiality obligations it may have to its customers arising under federal or state securities laws or the applicable rules of any self regulatory organization. The Sponsor will not use any information
provided by the Authorized Participant pursuant to this paragraph or disclose such information to others except in connection with the performance of its duties and responsibilities hereunder, including making servicing and informational mailings
related to the Trust, or except as may be required by applicable law. 
 Section 9. Indemnification. 

(a) The Authorized Participant hereby indemnifies and holds harmless the Trustee, the Depository, the Trust, the Sponsor, their respective
direct or indirect affiliates (as defined below) and their respective directors, officers, employees and agents (each, an “AP Indemnified Party”) from and against any losses, liabilities, damages, costs and expenses (including
attorney’s fees and the reasonable cost of investigation) incurred by such AP Indemnified Party as a result of or in connection with: (i) any breach by the Authorized Participant of any provision of this Agreement, including any of its
representations, warranties or covenants; (ii) any failure on the part of the Authorized Participant to perform any of its other obligations set forth in this Agreement; (iii) any failure by the Authorized Participant to comply with
applicable laws and the rules and regulations of any governmental entity or any self-regulatory organization or futures exchange to the extent the foregoing relates to offers or sales of, transaction in, and activities with respect to Baskets;
(iv) any actions of such AP Indemnified Party in reliance upon any instructions issued in accordance with the Procedures reasonably believed by the AP Indemnified Party to be genuine and to have been given by the Authorized Participant; or
(v) (A) any representation by the Authorized Participant, its employees or its agents or other representatives about the Shares, any AP Indemnified Party or the Trust that is not consistent with the Trust’s Prospectus as
then-supplemented made in connection with the offer or the solicitation of an offer to buy or sell Shares and (B) any untrue statement or alleged untrue statement of a material fact (1) contained in any research report, marketing material
or sales literature described in Section 13(b) or in any FWP prepared by the Authorized Participant or (2) furnished by the Authorized Participant for use in a FWP prepared by, for or on behalf of the Sponsor, or any alleged omission to
state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading to the 

 extent that such statement or omission relates to the Shares, any AP Indemnified Party or
the Trust, unless, in either case, such representation, statement or omission was made or included by the Authorized Participant at the written direction of the Sponsor or is based upon any omission or alleged omission by the Sponsor to state a
material fact in connection with such representation, statement or omission necessary in order to make such representation, statement or omission not misleading. 
 (b) The Sponsor hereby agrees to indemnify and hold harmless the Authorized Participant, its respective subsidiaries, affiliates, directors, officers, employees and agents, and each person, if any, who
controls such persons within the meaning of Section 15 of the 1933 Act (each, a “Sponsor Indemnified Party”) from and against any losses, liabilities, damages, costs and expenses (including attorneys’ fees and the
reasonable cost of investigation) incurred by such Sponsor Indemnified Party as a result of (i) any breach by the Sponsor of any provision of this Agreement that relates to the Sponsor, including its representations, warranties and covenants;
(ii) any failure on the part of the Sponsor to perform any other obligation of the Sponsor set forth in this Agreement; (iii) any failure by the Sponsor to comply with applicable laws and the rules and regulations of any governmental
entity, any self-regulatory organization or futures exchange to the extent the foregoing relates to offers or sales of, transaction in, and activities with respect to Baskets; or (iv) any untrue statement or alleged untrue statement of a
material fact contained in the Registration Statement or in any amendment thereof, or in the Prospectus, or in any amendment thereof or supplement thereto, or in any FWP prepared by, for or on behalf of the Sponsor, or arising out of or based upon
the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, except those statements based on information furnished in writing by or on behalf of
the Authorized Participant expressly for use in the Registration Statement, amendment thereof, Prospectus, amendment thereof or supplement thereto, or FWP. 
 (c) (i) This Section 9 shall not apply to any AP Indemnified Party or any Sponsor Indemnified Party (each, an “Indemnified Party”) to the extent any such losses, liabilities,
damages, costs and expenses are incurred as a result of, or in connection with, any action or failure to act that constitutes gross negligence, bad faith or willful misconduct on the part of the such Indemnified Party. (ii) The term
“affiliate” in this Section 9 shall include, with respect to any person, entity or organization, any other person, entity or organization which directly, or indirectly through one or more intermediaries, controls, is controlled by or
is under common control with such person, entity or organization. 
 (d) If the indemnification provided for in this
Section 9 is unavailable to an indemnified party under Sections 9(a) or 9(b) or insufficient to hold an indemnified party harmless in respect of any losses, liabilities, damages, costs and expenses referred to therein, then each applicable
indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, liabilities, damages, costs and expenses (i) in such proportion as is appropriate to reflect the relative benefits received
by the Sponsor and the Trust, on the one hand, and by the Authorized Participant, on the other hand, from the services provided hereunder or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Sponsor and the Trust, on the one hand, and of the Authorized Participant, on the other hand, in
connection with, to the extent applicable, the statements or omissions which resulted in such losses, liabilities, damages, costs and expenses, as well as any other relevant equitable considerations. The relative benefits received by the Sponsor and
the Trust, on the one hand, and the Authorized Participant, on the other hand, shall be deemed to be in the same respective proportions as the amount of Singapore Dollars transferred to the Trust under this Agreement on the one hand (expressed in
dollars) bears to the amount of economic benefit received by the Authorized Participant in connection with this Agreement on the other hand. To the extent applicable, the relative fault of the Sponsor on the one hand and of the Authorized
Participant on the other shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or omission or alleged omission relates to information supplied by the Sponsor or by the
Authorized Participant and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result of the losses, liabilities, damages,
costs and expenses referred to in this Section 9(d) shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with investigating, preparing to defend or defending any action, suit or
proceeding (each a “Proceeding”) related to such losses, liabilities, damages, costs and expenses. 
 (e)
The Sponsor and the Authorized Participant agree that it would not be just and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation or by any other method of allocation that does not take account of the
equitable considerations referred to in Section 9(d) above. The Authorized Participant shall not be required to contribute any amount in excess of the amount by which the total price at which the Shares created by the Authorized Participant and
distributed to the public were offered to the public exceeds the amount of any damage which the Authorized Participant has otherwise been required to pay by reason of such untrue statement or alleged untrue statement or omission or alleged omission.
No person guilty of fraudulent misrepresentation (within the meaning of Section 11 (f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

 (f) The indemnity and contribution agreements contained in this Section 9 shall remain
in full force and effect regardless of any investigation made by or on behalf of the Authorized Participant, its partners, stockholders, members, directors, officers, employees and or any person (including each partner, stockholder, member,
director, officer or employee of such person) who controls the Authorized Participant within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, or by or on behalf of the Sponsor, its partners, stockholders, members,
directors, officers, employees or any person who controls the Sponsor within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, and shall survive any termination of this Agreement. The Sponsor and the Authorized
Participant agree promptly to notify each other of the commencement of any Proceeding against it and, in the case of the Sponsor, against any of the Sponsor’s officers or directors, in connection with the issuance and sale of the Shares or in
connection with the Registration Statement or the Prospectus. 
 Section 10. Liability. 

(a) Limitation of Liability. None of the Sponsor, the Trustee, the Authorized Participant, and the Depository shall be liable to each
other or to any other person, including any party claiming by, through or on behalf of the Authorized Participant, for any losses, liabilities, damages, costs or expenses arising out of any mistake or error in data or other information provided to
any of them by each other or any other person or out of any interruption or delay in the electronic means of communications used by them. 
 (b) Tax Liability. The Authorized Participant shall be responsible for the payment of any transfer tax, sales or use tax, stamp tax, recording tax, value added tax and any other similar tax or government
charge applicable to the creation or redemption of any Basket made pursuant to this Agreement, regardless of whether or not such tax or charge is imposed directly on the Authorized Participant. To the extent the Trustee, the Sponsor or the Trust is
required by law to pay any such tax or charge, the Authorized Participant agrees to promptly indemnify such party for any such payment, together with any applicable penalties, additions to tax or interest thereon. 

Section 11. Acknowledgment. The Authorized Participant acknowledges receipt of (i) a copy of the Trust Agreement and (ii) the
current Prospectus of the Trust, and represents that it has reviewed and understands such documents. 
 Section 12. Effectiveness and
Termination. Upon the execution of this Agreement by the parties hereto, this Agreement shall become effective in this form as of the Time of Sale, and may be terminated at any time by any party upon thirty (30) days prior written notice to
the other parties unless earlier terminated: (i) in accordance with Section 2(a)(i); (ii) upon notice to the Authorized Participant by the Trustee in the event of a breach by the Authorized Participant of this Agreement or the
procedures described or incorporated herein; (iii) immediately in the circumstances described in Section 18(j); or (iv) at such time as the Trust is terminated pursuant to the Trust Agreement. 

Section 13. Marketing Materials; Representations Regarding Shares; Identification in Registration Statement. 

(a) The Authorized Participant represents, warrants and covenants that (i), without the written consent of the Sponsor, the Authorized
Participant will not (A) make, or permit any of its representatives to make, any representations concerning the Shares or any AP Indemnified Party other than representations contained (1) in the Prospectus of the Trust, as then amended and
supplemented, (2) in printed information approved by the Sponsor as information supplemental to such Prospectus or (3) in any promotional materials or sales literature furnished to the Authorized Participant by the Sponsor, or
(B) issue any FWP pursuant to Rules 164 and 433 of the 1933 Act and (ii) the Authorized Participant will not furnish or cause to be furnished to any person or display or publish any information or material relating to the Shares, any AP
Indemnified Person or the Trust that are not consistent with the Prospectus, as then amended and supplemented. Copies of the Prospectus of the Trust, as then amended and supplemented, and any such printed supplemental information will be supplied by
the Sponsor to the Authorized Participant in reasonable quantities upon request. 
 (b) Notwithstanding the foregoing, the
Authorized Participant may without the written approval of the Sponsor prepare and circulate in the regular course of its business research reports, marketing material and sales literature, but in no event FWPs, that include information, opinions or
recommendations relating to the Shares (i) for public dissemination, provided that such research reports, marketing material or sales literature is prepared in accordance with applicable rules and regulations of the 1933 Act, any applicable
state securities laws and FINRA rules; or (ii) for internal use by the Authorized Participant. The Authorized Participant will file all such research reports, marketing material and sales literature related to the Shares with FINRA to the
extent required by the NASD Conduct Rules. 
 (c) The Authorized Participant and its affiliates may prepare and circulate in the
regular course of their businesses, without having to refer to the Shares or the Prospectus, as then amended and supplemented, data and information relating to the price of Singapore Dollars. 

 (d) The Authorized Participant hereby agrees that for the term of this Agreement the Sponsor
may deliver the Prospectus, and any supplements or amendments thereto or recirculation thereof, to the Authorized Participant in Portable Document Format (“PDF’) via electronic mail in lieu of delivering the Prospectus in paper
form. The Authorized Participant may revoke the foregoing agreement at any time by delivering written notice to the Sponsor and, whether or not such agreement is in effect, the Authorized Participant may, at any time, request reasonable quantities
of the Prospectus, and any supplements or amendments thereto or recirculation thereof, in paper form from the Sponsor. The Authorized Participant acknowledges that it has the capability to access, view, save and print material provided to it in PDF
and that it will incur no appreciable extra costs by receiving the Prospectus in PDF instead of in paper form. The Sponsor will, when requested by the Authorized Participant, make available at no cost the software and technical assistance necessary
to allow the Authorized Participant to access, view and print the PDF version of the Prospectus. 
 (e) For as long as this
Agreement is effective, the Authorized Participant agrees to be identified as an authorized participant of the Trust (i) in the section of the Prospectus included within the Registration Statement entitled “Creation and Redemption of
Shares” (including identifying the Authorized Participant in such section by a supplement to the Prospectus) and in any other section as may be required by the SEC and (ii) on the Trust’s website. Upon the termination of this
Agreement, (i) during the period prior to when the Sponsor qualifies and elects to file on Form S-3, the Sponsor will remove such identification from the Prospectus in the amendment of the Registration Statement next occurring after the date of
the termination of this Agreement and, during the period after when the Sponsor qualifies and elects to file on Form S-3, the Sponsor will promptly file a current report on Form 8-K indicating the withdrawal of the Authorized Participant as an
authorized participant of the Trust and (ii) the Sponsor will promptly update the Trust’s website to remove any identification of the Authorized Participant as an authorized participant of the Trust. 

Section 14. Title To Singapore Dollars. The Authorized Participant represents and warrants that upon delivery of the Basket Singapore Dollar
Amount (as defined in the Trust Agreement) to the Trustee in accordance with the terms of the Trust Agreement and this Agreement, the Trust will acquire good and unencumbered title to the Singapore Dollars which are the subject of such Basket
Singapore Dollar Amount, free and clear of all pledges, security interests, liens, charges, taxes, assessments, encumbrances, equities, claims, options or limitations of any kind or nature, fixed or contingent, and not subject to any adverse claims,
including any restriction upon the sale or transfer of all or any part of such Singapore Dollars which is imposed by any agreement or arrangement entered into by the Authorized Participant or any party for which it is acting in connection with a
Purchase Order. 
 Section 15. Third Party Beneficiaries. Each AP Indemnified Party, to the extent it is not a party to this
Agreement, is a third-party beneficiary of this Agreement (each, a “Third Party Beneficiary”) and may proceed directly against the Authorized Participant (including by bringing proceedings against the Authorized Participant in its
own name) to enforce any obligation of the Authorized Participant under this Agreement which directly or indirectly benefits such Third Party Beneficiary. 
 Section 16. Force Majeure. No party to this Agreement shall incur any liability for any delay in performance, or for the nonperformance, of any of its obligations under this Agreement by
reason of any act of God or war or terrorism, acts and regulations and rules of any governmental or supra national bodies or authorities or regulatory or self-regulatory organization or failure of any such body, authority or organization for any
reason, to perform its obligations, or any cause beyond its reasonable control, including, without limitation, any breakdown, malfunction or failure of transmission in connection with or other unavailability of any wire, communication or computer
facilities, any transport, port or airport disruption, or any industrial action. 
 Section 17. Ambiguous Instructions. If a
Purchase Order Form or a Redemption Order Form otherwise in good form contains order terms that differ from the information provided in the telephone call at the time of issuance of the applicable order number, the Trustee will attempt to contact
one of the Authorized Persons of the Authorized Participant to request confirmation of the terms of the Order. If an Authorized Person confirms the terms as they appear in the Order, then the Order will be accepted and processed. If an Authorized
Person contradicts the Order terms, the Order will be deemed invalid, and a corrected Order must be received by the Trustee. If the Trustee is not able to contact an Authorized Person, then the Order shall be accepted and processed in accordance
with its terms notwithstanding any inconsistency from the terms of the telephone information. In the event that an Order contains terms that are not complete or are illegible, the Order will be deemed invalid and the Trustee will attempt to contact
one of the Authorized Persons of the Authorized Participant to request retransmission of the Order. 
 Section 18. Miscellaneous.

 (a) Amendment and Modification. This Agreement, the Procedures attached as Attachment A and the Exhibits hereto may be
amended, modified or supplemented by the Trustee and the Sponsor, without consent of any Authorized Participant from time to time by the following procedure. After the amendment, modification or supplement has been agreed to, the Trustee will mail a
copy of the proposed amendment, modification or supplement to the Authorized Participant. For the purposes of this Agreement, mail will be deemed received by the recipient thereof on the third (3rd) day following the deposit of such

 
mail into the United States postal system. Within ten (10) calendar days after its deemed receipt, the amendment, modification or supplement will become part of this Agreement, the
Attachments or the Exhibits, as the case may be, in accordance with its terms. If at any time there is any material amendment, modification or supplement of any Participant Agreement (other than this Agreement), the Trustee will promptly mail a copy
of such amendment, modification or supplement to the Authorized Participant. 
 (b) Waiver of Compliance. Any failure of any of
the parties to comply with any obligation, covenant, agreement or condition herein may be waived by the party entitled to the benefits thereof only by a written instrument signed by the party granting such waiver, but any such written waiver, or the
failure to insist upon strict compliance with any obligation, covenant, agreement or condition herein, shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 

(c) Notices. Except as otherwise specifically provided in this Agreement, all notices required or permitted to be given pursuant to this
Agreement shall be given in writing and delivered by personal delivery, by postage prepaid registered or certified United States first class mail, return receipt requested, by nationally recognized overnight courier (delivery confirmation received)
or by telex, telegram or telephonic facsimile or similar means of same day delivery (transmission confirmation received), with a confirming copy regular mailed, postage prepaid. For avoidance of doubt, notices may not be given or transmitted by
electronic mail, other than as set forth in Section 6. Unless otherwise notified in writing, all notices to the Trust shall be given or sent to the Trustee. All notices shall be directed to the address or telephone or facsimile numbers
indicated below the signature line of the parties on the signature page hereof. 
 (d) Successors and Assigns. This Agreement and
all of the provisions hereof shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. 
 (e) Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any party without the prior written consent of the other parties, except that any
entity into which a party hereto may be merged or converted or with which it may be consolidated or any entity resulting from any merger, conversion, or consolidation to which such party hereunder shall be a party, or any entity succeeding to all or
substantially all of the business of the party, shall be the successor of the party under this Agreement. The party resulting from any such merger, conversion, consolidation or succession shall notify the other parties hereto of the change. Any
purported assignment in violation of the provisions hereof shall be null and void. Notwithstanding the foregoing, this Agreement shall be automatically assigned to any successor Trustee or Sponsor at such time such successor qualifies as a successor
Trustee or Sponsor under the terms of the Trust Agreement. 
 (f) Governing Law; Consent to Jurisdiction. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York (regardless of the laws that might otherwise govern under applicable New York conflict of laws principles) as to all matters, including matters of validity, construction,
effect, performance and remedies. Each party hereto irrevocably consents to the jurisdiction of the courts of the State of New York and of any federal court located in the Borough of Manhattan in such State in connection with any action, suit or
other proceeding arising out of or relating to this Agreement or any action taken or omitted hereunder, and waives any claim of forum non convenient and any objections as to laying of venue. Each party further waives personal service of any summons,
complaint or other process and agrees that service thereof may be made by certified or registered mail directed to such party at such party’s address for purposes of notices hereunder. Each party hereby waives its right to a trial by jury of
any claim arising under or in connection with this Agreement. 
 (g) Counterparts. This Agreement may be executed in one or more
counterparts, each of which will be deemed to he an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement, and it shall not be necessary in making proof of this Agreement as to
any party hereto to produce or account for more than one such counterpart executed and delivered by such party. 
 (h)
Interpretation. The article and section headings contained in this Agreement are solely for the purpose of reference, are not part of the agreement of the parties and shall not in any way affect the meaning or interpretation of this Agreement.

 (i) Entire Agreement. This Agreement and the Trust Agreement, along with any other agreement or instrument delivered pursuant
to this Agreement and the Trust Agreement, supersede all prior agreements and understandings between the parties with respect to the subject matter hereof, provided, however, that the Authorized Participant shall not be deemed by this provision to
be a party to the Trust Agreement. 
 (j) Severance. If any provision of this Agreement is held by any court or any act,
regulation, rule or decision of any other governmental or supra national body or authority or regulatory or self-regulatory organization to be invalid, illegal or unenforceable for any reason, it shall be invalid, illegal or unenforceable only to
the extent so held and shall not affect the validity, legality or enforceability of the other provisions of this Agreement and this Agreement will be construed as if such 

 
invalid, illegal, or unenforceable provision had never been contained herein, unless the Sponsor determines in its discretion, after consulting with the Trustee, that the provision of this
Agreement that was held invalid, illegal or unenforceable does affect the validity, legality or enforceability of one or more other provisions of this Agreement, and that this Agreement should not be continued without the provision that was held
invalid, illegal or unenforceable, and in that case, upon the Sponsor’s notification of the Trustee of such a determination, this Agreement shall immediately terminate and the Trustee will so notify the Authorized Participant immediately.

 (k) No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rule of strict construction win be applied against any party. 
 (1) Survival. Sections 9
(Indemnification) and 15 (Third Party Beneficiaries) hereof shall survive the termination of this Agreement. 
 (m) Other Usages.
The following usages shall apply in interpreting this Agreement: (1) references to a governmental or quasigovernmental agency, authority or instrumentality shall also refer to a regulatory body that succeeds to the functions of such agency,
authority or instrumentality; and (ii) “including” means “including, but not limited to.” 
 * * * * * *
* 

 IN WITNESS WHEREOF, the Authorized Participant, the Sponsor and the Trustee, on behalf of the Trust, have
caused this Agreement to be executed by their duly authorized representatives as of the date first set forth above. 
  

					
	 THE BANK OF NEW YORK MELLON,

Not in its individual capacity,

But solely as Trustee of the

CurrencySharesSM Singapore Dollar Trust
	  		 	 KNIGHT EXECUTION & CLEARING

SERVICES LLC

			
	 	  		 	 
			
	 	  		 	 
		  		 	

									
	     By:
	 	     /s/ Andrew
Pfeifer                                        
    
 Name: AndrewPfeifer

Title: Vice President
	  		 	     By:
	 	     /s/ Christopher
Pento                                        
    
 Name: Christopher Pento

Title: Chief Executive Officer

									
					
	 Address:
	 	 1 Wall Street

New York, NY 10286
	  		 	Address:	 	 545 Washington Blvd.

Jersey City, NJ 07310

					
	 Telephone:
	 	 212-635-6316
	  		 	Telephone:	 	 201-356-4232

					
	 Facsimile:
	 	 	  		 	Facsimile:	 	 201-557-6891

					
	 	 	 	  		 	 	 	 

 RYDEX SPECIALIZED
PRODUCTS LLC, 
 Sponsor of the CurrencySharesSM Singapore Dollar Trust 
 /s/ Joseph Arruda 
 Name: Joseph Arruda 

Title: CFO 

			
		
	 Address:
	 	805 King Farm Blvd., Suite 600
		 	Rockville, MD 20850
	
	 Telephone: 301-296-5242

	
	 Facsimile: 301-296-5115

			
	

	  	 Knight Execution & Clearing Services LLC
 545 Washington Boulevard
 Jersey City, New Jersey 07310

Tel 201.222.9400
 Toll Free
800.544.7508
 www.knight.com

 EXHIBIT A 

CURRENCYSHARESsi” SINGAPORE DOLLAR TRUST 
 FORM OF CERTIFIED AUTHORIZED PERSONS OF AUTHORIZED PARTICIPANT 
 The
following are the names, titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by the Participant Agreement or any other notice, request or
instruction on behalf of the Authorized Participant pursuant to the CurrencySharessm Singapore Dollar Trust Participant Agreement. 
 Authorized Participant: Knight
Execution & Clearing Services LLC 
  

			
	 Name: Erma McClain
 Title:
Managing Director
 Signature: /s/ Erma McClain
	  	 Name: Sean Siri
 Title:
Authorized Person
 Signature: /s/ Sean Siri

		
	 Name: Robert Moseman
 Title:
Vice President
 Signature: /s/ Robert Moseman
	  	 Name: Maria Makatoff
 Title:
Authorized Person
 Signature: /s/ Maria Makatoff

		
	 Name: Wayne Solano
 Title:
Director
 Signature: /s/ Wayne Solano
	  	 Name: James Arrante
 Title:
Authorized Person
 Signature: /s/ James Arrante

		
	 Name: Eric Malpica
 Title:
Director
 Signature: /s/ Eric Malpica
	  	 Name: Stacey Boss
 Title:
Authorized Person
 Signature: /s/ Stacy Boss

 The undersigned, Andrew M. Greenstein, Secretary of Knight Execution & Clearing Services
LLC, does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently bold such offices, that they have been duly authorized to act as Authorized Persons pursuant to the
CurrencySharessm Singapore Dollar Trust Participant
Agreement by and between Knight Execution & Clearing Services LLC and the Trustee and the Sponsor of the CurrencySharessm Singapore Dollar Trust, dated         , and that their
signatures set forth above are their own true and genuine signatures. 
 In Witness Whereof, the undersigned has hereby set his/her hand on the
date set forth below. 
  

			
	 Subscribed and sworn to before me
 this 31 day of October, 2011
	  	By:  /s/ Andrew M. Greenstein
		
		  	Name: Andrew M. Greenstein
		
		  	Title: Secretary
		
	  /s/ Kathryn M.
Smith                                	  	Date: October 31, 2011
	Notary Public	  	

 EXHIBIT B 

CURRENCYSHARESsm SINGAPORE DOLLAR TRUST 
 PURCHASE ORDER FORM 
 THE BANK OF NEW YORK MELLON, TRUSTEE 

 
  
 CONTACT INFORMATION FOR ORDER EXECUTION: 

			
	 Telephone order number:
	  	(718) 315-4970 or 4967
	 Fax order number:
	  	(718) 315-4881
		  	Depository Instructions            [            
[                        ]
		  	Acc: JPMorgan Chase Bank, N.A. London
		  	(CHASGB2L) No: [                    ]
		  	FFC: Currency Shares Singapore Dollar Trust
[                    ]
		  	IBAN# [                    ]

  
  

Participant must complete all items in Part I. The Trustee, in its discretion may reject any order not submitted in complete form. 

I. TO BE COMPLETED BY PARTICIPANT: 

									
	Date:	 	  
	  	 	Time:	  	  	                    
                         

									
	Broker Name:	 	  
	  	 	Firm Name:	  	  	                    
               

									
	DTC Participant Number:	 	  
	  	 	Fax Number:	  	  	                    
             

							
	Telephone Number:	 	  
	  		  	

  

													
		  		  		  		 	(One Basket = 50,000 Shares)
		  		  		  		 	Number of Baskets Transacted:	 	 
	Order #	  	 	  		  		 	Number written out:	 	 	 	

 This Purchase Order is subject to the terms and conditions of the Depositary Trust Agreement of the Trust as currently in
effect and the Participant Agreement between the Authorized Participant, the Trustee and the Sponsor named therein. All representations and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant
Agreement are incorporated herein by reference and are true and accurate as of the date hereof, 
 The undersigned does hereby certify as of the
date set forth below that he/she is an Authorized Person under the Participant Agreement and that he/she is authorized to deliver this Purchase Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this
agreement based on an estimated Basket Singapore Dollar Amount disseminated the previous business day and recognizes the final Basket Singapore Dollar Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of
the trading day a final NAV will be disseminated to all Authorized Participants, and the Basket Singapore Dollar Amount required for the Purchase Order entered into on this day will be finalized and this Purchase Order will serve as a legally
binding contract for settlement on the third New York business day following the date hereof, unless that day is not a business day in Singapore, in which case settlement will be the next following day that is a business day in both New York and
Singapore. 
  

					
	 	 		 	 
	
                    Date
	 		 	Authorized Person’s Signature      

  

	II.	TO BE COMPLETED BY TRUSTEE: 

 This
certifies that the above order has been: 
  

									
	 	 		  	Accepted by the Trustee	  	
	 	 		  	Declined-Reason:	  	 	  	

  

																							
	Final # of Singapore Dollars	 	 	 	 	 	 	 	 	 	 	 		 	Final # of FXW Shares  	 	 	 	 	 	
												
	 	 	 	 		 		 		 	 	 		 		 	 	 	 	 		 	
	Date	 		 		 		 		 	Time	 		 		 	Authorized Signature of Trustee	 		 	
		 		 		 		 		 		 		 		 		 	
		 		 		 		 		 		 		 		 		 		 		 	

  

 EXHIBIT C 

CURRENCYSHARESsm SINGAPORE DOLLAR TRUST 
 REDEMPTION ORDER FORM 
 THE BANK OF NEW YORK MELLON, TRUSTEE 

 
  
 CONTACT INFORMATION FOR ORDER EXECUTION: 

			
	Telephone order number:	  	(718) 315-4970 or 4967
	Fax order number:	  	(718) 315-4881
	Depository Instructions	  	
	 	  	 
	Participant must complete all items in Part I. The Trustee, in its discretion may reject any order not submitted in complete form.

 I. TO BE COMPLETED BY PARTICIPANT: 

									
	Date:	 	  
	  	 	Time:	  	  	                    
                         

									
	Broker Name:	 	  
	  	 	Firm Name:	  	  	                    
               

									
	DTC Participant Number:	 	  
	  	 	Fax Number:	  	  	                    
             

							
	Telephone Number:	 	  
	  		  	

  

													
		  		  		  		 	(One Basket = 50,000 FXW Shares)
		  		  		  		 	Number of Baskets Surrendered:	 	 
	Order #	  	 	  		  		 	Number written out:	 	 	 	

 This Redemption Order is subject to the terms and conditions of the Depositary Trust Agreement of
the CurrencyShares® Singapore Dollar Trust as currently in effect and the Participant Agreement between the
Authorized Participant, the Trustee and the Sponsor named therein. All representations and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant Agreement are incorporated herein by reference and
are true and accurate as of the date hereof. 
 The undersigned does hereby certify as of the date set forth below that he/she is an Authorized
Person under the Participant Agreement and that he/she is authorized to deliver this Redemption Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this agreement based on an estimated Basket
Singapore Dollar Amount disseminated the previous business day and recognizes the final Basket Singapore Dollar Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of the trading day a final NAV will be
disseminated to all Authorized Participants, and the Basket Singapore Dollar Amount required for the Redemption Order entered into on this day will be finalized and this Redemption Order will serve as a legally binding contract for settlement on the
third New York business day following the date hereof, unless that day is not a business day in Singapore, in which case settlement will be the next following day that is a business day in both New York and Singapore. 

 

					
	 	 		 	 
	
                    Date
	 		 	Authorized Person’s Signature      

 II. TO BE COMPLETED BY TRUSTEE: 
 This certifies that the above order has been: 
  

									
	 	 		  	Accepted by the Trustee	  	
	 	 		  	Declined-Reason:	  	 	  	

  

																							
	Final # of Singapore Dollars	 	 	 	 	 	 	 	 	 	 	 		 	Final # of FXW Shares  	 	 	 	 	 	
												
	 	 	 	 		 		 		 	 	 		 		 	 	 	 	 		 	
	Date	 		 		 		 		 	Time	 		 		 	Authorized Signature of Trustee	 		 	
		 		 		 		 		 		 		 		 		 	
		 		 		 		 		 		 		 		 		 		 		 	

 ATTACHMENT A 
 CREATION AND REDEMPTION OF SINGAPORE DOLLAR SHARES AND 
 RELATED SINGAPORE
DOLLAR TRANSACTIONS 
 Scope of Procedures and Overview 
 These procedures (the “Procedures”) describe the processes by which one or more Baskets of Singapore Dollar Trust shares (the “Shares”) issuable by The Bank of New York
Mellon, as trustee (the “Trustee”) of the CurrencySharessm Singapore Dollar Trust (the “Trust”), may be purchased or, once Shares have been issued, redeemed by an Authorized Participant. Shares may be created or redeemed only in blocks of 50,000
Shares (each such block, a “Basket”). Because the issuance and redemption of Baskets also involve the transfer of Singapore Dollars between the Authorized Participant and the Trust, certain processes relating to the underlying
transfers of Singapore Dollars also are described. 
 Under these Procedures, Baskets may be issued only in consideration for Singapore Dollar
transferred to and held in the Trust’s accounts maintained in London, England by London Branch of JPMorgan Chase Bank, N.A., as depository (the “Depository”). Capitalized terms used in these Procedures without further
definition have the meanings assigned to them in the Depositary Trust Agreement, dated as of [                        ],
2011, between Rydex Specialized Products LLC (the “Sponsor”), the Trustee, the registered owners and beneficial owners from time to time of Shares issued thereunder and all depositors (the “Trust Agreement”), or the
Participant Agreement entered into by each Authorized Participant with the Sponsor and the Trustee. 
 For purposes of these Procedures, a
“NY Business Day” is defined as any day other than (i) a Saturday or Sunday or (ii) a day on which the New York Stock Exchange (the “NYSE”) is not open for regular trading at noon New York City time and a
“Local Business Day” is defined as any day other than (i) a Saturday or Sunday or (ii) a day which has been designated a bank holiday in Singapore. 
 Baskets are issued pursuant to the Prospectus, which will be delivered by the Sponsor to each Authorized Participant prior to its execution of the Participant Agreement, and are issued and redeemed in
accordance with the Trust Agreement and the Participant Agreement. Baskets may be issued and redeemed on any Business Day by the Trustee in exchange for Singapore Dollar, which the Trustee receives from Authorized Participants or transfers to
Authorized Participants, in each case on behalf of the Trust. Authorized Participants will be required to pay a nonrefundable per order transaction fee of $500 to the Trustee. Also, in connection with each Purchase Order and Redemption Order (each
as defined below) for two or more Baskets, the Authorized Participant shall pay an additional transaction fee, as follows: 
  

			
	 Baskets Created or Redeemed
Per Order
	  	Additional Transaction Fee
	 2
	  	$   500
	 3
	  	$1,000
	 4
	  	$1,500
	 5 or more
	  	$2,000

 The additional transaction fee described above shall be remitted to the Authorized Participant to the Trustee in
accordance with these Procedures. The Trustee shall then remit payment of the additional transaction fee to the Sponsor. The fees described above shall collectively be referred to herein as “Transaction Fees”. 

Authorized Participants and the Trust Transfer and Baskets of Shares 
 Upon acceptance of the Participant Agreement by the Sponsor and the Trustee, the Trustee will assign a personal identification number (a “PIN”) to each person authorized to act for the
Authorized Participant (an “Authorized Person”). This will allow the Authorized Participant through its Authorized Person(s) to place Purchase Order(s) or Redemption Order(s) (each as defined herein and, together,
“Orders”) for Baskets. 

 Important Notes: 
  

	•	Any Order is subject to rejection by the Trustee for the reasons set forth in the Trust Agreement. 

 

	•	All Orders are subject to the provisions of the Participant Agreement relating to unclear or ambiguous instructions. 

 

  
 A-2

 CREATION PROCESS 

OVERVIEW 

The following describes the process by which Baskets are created. In summary, an order to purchase one or more Baskets of Shares is
placed by an Authorized Participant with the Trustee by 4:00 p.m. New York City (“NYC’) time on the NY Business Day that is the Order Date under the Trust Agreement (“CREATION T”), and a Basket is created on
the third NY Business Day following CREATION T, unless that day is not a Local Business Day, in which case creation of the Basket shall be the next following day that is both a New York Business Day and a Local Business Day (“CREATION
T+3”). In order for the creation of a Basket to occur, the Authorized Participant must transfer to the Trust Singapore Dollars and the Trustee will transfer to the Authorized Participant’s account at The Depository Trust Company
(“DTC”) Baskets corresponding to the Singapore Dollars the Participant has transferred to the Trust. 
  

	CI	CREATION T (PURCHASE ORDER TRADE DATE) 

 C1.1 By the 4:00 p.m. NYC time (the “Order Cut-Off Time”), or by 12:00 p.m. NYC time on the monthly dividend declaration date (the “Early Order Cut-Off Time”), the Authorized
Participant submits to the Trustee the Authorized Participant’s order to create one or more Baskets of Shares (a “Purchase Order”) in accordance with the following process. 

C1.1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, an Authorized Person of the Authorized Participant calls
the Trustee at 718-315-4970 or 4967 7500, notifying the Trustee that the Authorized Participant wishes to place a Purchase Order for the Trustee to create an identified number of Baskets of Shares and requesting that the Trustee provide an order
number. The Authorized Person provides a PIN as identification to the Trustee. 
 C1.1.2 Incoming telephone calls are queued and
will be handled in the sequence received. The Trustee will process Purchase Orders if the phone call initiated by the Authorized Person is placed before the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, even though the remainder
of the order process is not completed until after the Order Cut-Off Time or the Early Order Cut-Off Time. Accordingly, do not hang up and redial. 
 C1.1.3 Purchase Orders initiated after the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable will be rejected. 
 C1.1.4 During the phone call from the Authorized Person of the Authorized Participant to initiate a Purchase Order, the Trustee will give an order number for the Authorized Participant’s Purchase
Order. 
 C1.1.5 Within 15 minutes after receiving the order number from the Trustee, the Authorized Participant will fax the
Purchase Order to the Trustee using the Purchase Order Form included as part of the Participant Agreement. 
 C1.1.6 The
Purchase Order Form provides, among other things, for the number of Baskets that the Authorized Participant is ordering and the condition that the Purchase Order is subject to the Trustee’s receipt of the Transaction Fees (by DTC SPO Charge)
prior to delivery of the Baskets on CREATION T+3. 
 Cl .1.7 If the Trustee has not received the Purchase Order Form from the
Authorized Participant within 15 minutes after the Authorized Person placed the phone call to the Trustee, the Trustee places a phone call to the Authorized Participant to inquire about the status of the order. If the Authorized Participant does not
fax the Purchase Order Form to the Trustee within 15 minutes after the Trustee’s 

  
 A-3

 
phone call, the Authorized Participant’s order is cancelled, but the Authorized Participant will remain liable to the Trustee for the Transaction Fees. 

C1.2 If the Trustee has received the Authorized Participant’s Purchase Order Form on time in accordance with the preceding timing
rules, then by 4:15 p.m. NYC time on CREATION T, the Trustee will return to the Participant a copy of the Purchase Order Form submitted, marking it “Affirmed subject to receipt of the Transaction Fees prior to delivery of Baskets on CREATION
T+3” (Current process is to simply approve the order in the appropriate section of the form) and indicating, on a preliminary basis subject to confirmation, the number of Singapore Dollars the Participant must transfer in exchange for the
Basket(s). 
 C1.3 The Participant ensures that by 2:00 p.m. NYC time on the NY Business Day that is immediately prior to the
date that is the Settlement Date under the Trust Agreement (“CREATION VD — I”) that sufficient Singapore Dollars are wire transferred to the Depository. 

C1.4 NOTES FOR AUTHORIZED PARTICIPANT (CREATION T) 
 C1.4.1 The Authorized Participant must be a participating member of DTC. 
 C1.4.2
The Authorized Participant must be able to transfer Singapore Dollars via (RTGSplus, EBA SING DOLLAR I or TARGET). SWIFT BIC — CHASGB2L. 
 C1.4.3 The Authorized Participant must have signed and delivered the Participant Agreement to the Trustee. The Trustee will accept an Authorized Participant based on the representations made by the
Authorized Participant in the Participant Agreement. The Trustee will not perform other due diligence or investigation of Authorized Participants. 
 CI.4.4 The Authorized Participant must have in place, before a Purchase Order can be processed, account instructions for Singapore Dollar transfers with its sending financial institution. 

C1.4.5 By 4:30 p.m. NYC time on CREATION VD-1, Singapore Dollars in the amount needed to acquire the Shares must be standing to the
credit of the Deposit Account in order for the Authorized Participant to receive Baskets on CREATION T+3. 
 C1.4.6 An
Authorized Participant may only deliver Singapore Dollars for credit to the Depository in the following ways (RTGSplus, EBA EURO1 or TARGET). SWIFT BIC — CHASGB2L. 
 C1.4.7 Prior to the delivery of the Baskets by the Trustee on CREATION T+3, the Authorized Participant must accept a DTC SPO Charge for the applicable Transaction Fees from the Trustee. Purchase Orders
for which the Trustee has not received the Transaction Fees will be cancelled subject to handling pursuant to supplemental procedures to be issued, but in any event the Authorized Participant will remain obligated to the Trustee for the Transaction
Fees. 
 C1.5 NOTES FOR TRUSTEE (CREATION T) 
 C1.5.1 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an email message to the Depository (by CREATION T+1) indicating the approximate total amount of Singapore Dollars that
the Depository will receive from the Authorized Participant on CREATION T+3. 

  
 A-4

	C2	CREATION T+1 

 C2.1 The Purchase
Orders and instructions given on CREATION T are all pending with the Trustee. 
 C2.2 The Depository receives the Trustee’s
email message about the approximate total amount of Singapore Dollars the Authorized Participant is required to transfer not later than 2:00 p.m. NYC time time on CREATION T. 

 

	C3	CREATION T+2 

 C3.1 On CREATION
VD-1 the Trustee notifies the Authorized Participant of the final amount of Singapore Dollars that must be deposited in the Deposit Account (the “Basket Singapore Dollar Amount”) not later than 2:00 p.m. NYC time on CREATION VD-1.

 C3.2 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT
MT210) to the Depository indicating the total amount of Singapore Dollars that the Depository will receive from the Authorized Participant on CREATION T+3. 
  

	C4	CREATION T+3 

 C4.1 By 7:45 a.m.
NYC time, the Depository has received each Authorized Participant’s wire transfer of the Basket Singapore Dollar Amount in the Deposit Account. 
 C4.2 As of 9:00 a.m. NYC time, the Depository notifies the Trustee that the Basket Singapore Dollar Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT
MT910). 
 C4.3 Prior to the delivery of the Baskets on CREATION T+3, the Trustee must have received the Transaction Fee from
the Authorized Participant (SPO/DTC Charge). 
 C4.4 At 11:00 a.m. NYC time, following receipt of the notice from the Depository
confirming the transfer of the Basket Singapore Dollar Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received
confirmation from the Depository of receipt of the Basket Singapore Dollar Amount. 
 C4.5 By 11:00 a.m. NYC time, following
receipt of the notice from the Depository confirming the transfer of the Basket Singapore Dollar Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the
number specified, and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the
Trustee’s transfer agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance
with the Trustee’s instructions. 
 C4.6 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s
transfer agent service desk that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized
Participants scheduled to receive Baskets on CREATION T+3 for whom the Trustee has received confirmation from the Depository that the Basket Singapore Dollar Amount has been received into the Deposit Account. 

C4.7 Following the close of business (usually 5:00 p.m. NYC time) on CREATION T+3, the Depository Singapore Dollar system updates account
records, recording the movements of Singapore 

  
 A-5

 
Dollars in the Deposit Account and providing updated balances in the affected accounts as of 8:30 a.m. NYC time on the first NY Business Day following the date that is the Settlement Date under
the Trust Agreement 
 C4.8 Following the close of business (usually 5:00 p.m. NYC time) on CREATION T+3, the Depository
Singapore Dollar system automatically generates authenticated electronic messages (SWIFT MT940 or SWIFT MT950) constituting a statement of the activity affecting the Deposit Account (received only by the Trustee). 

C4.9 If the Authorized Participant fails to deliver Singapore Dollars by 4:30 p.m. NYC time on CREATION VD-1, (a) the Trustee will
apply a late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices, payable by the Authorized Participant.

 In the event any such late fees are assessed, the Trustee will coordinate with the Authorized Participant to arrange payment
of such fees. 
 REDEMPTION PROCESS 
 OVERVIEW 
 The following describes the process by which Baskets are
redeemed. In summary, an order to redeem one or more Baskets of Shares is placed by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the NY Business Day that is the Order Date under the Trust Agreement (“REDEMPTION
T”), Baskets to be redeemed are delivered to the Trustee by 4:30 p.m. on the second NY Business Day following REDEMPTION T, unless that day is not a Local Business Day, in which case Baskets shall be delivered the next following day that is
both a New York Business Day and a Local Business Day (“REDEMPTION T+2”) and the Authorized Participant receives the corresponding Singapore Dollars on the third NY Business Day following REDEMPTION T (“REDEMPTION
T+3”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to the Authorized Participant Singapore Dollars corresponding to the
Baskets delivered for redemption. 
  

	R1	REDEMPTION T (REDEMPTION ORDER TRADE DATE) 

 RI .1 By the Order Cut-Off Time, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets of Shares (a “Redemption Order”)
in accordance with the following process. 
 R1.1.1 By the Order Cut-Off Time, an Authorized Person of the Authorized
Participant calls the Trustee at 718-315-7500, notifying the Trustee that the Authorized Participant wishes to place a Redemption Order for the Trustee to redeem an identified number of Baskets of Shares and requesting that the Trustee provide an
order number. The Authorized Person provides a PIN as identification to the Trustee. 
 R1.1.2 Incoming telephone calls are
queued and will be handled in the sequence received. The Trustee will process the Redemption Order(s) if the phone call initiated by the Authorized Person is placed before the Order Cut-Off Time, even though the remainder of the order process is not
completed until after the Order Cut-Off Time. Accordingly, do not hang up and redial. 
 R1.1.3 Redemption Orders initiated
after the Order Cut-Off Time are rejected. 
 R1.1.4 During the phone call from the Authorized Person of the Authorized
Participant to initiate a Redemption Order, the Trustee will give an order number for the Authorized Participant’s Redemption Order. 

  
 A-6

 R1.1.5 Within 15 minutes after the phone call initiating the Redemption Order, the
Authorized Participant will fax the Redemption Order to the Trustee using the Redemption Order Form included as part of the Participant Agreement. 
 R1.1.6 The Redemption Order Form provides, among other things, for the number of Baskets that the Authorized Participant is redeeming and the condition that the Redemption Order is subject to
Trustee’s receipt of the Transaction Fee by SPO/DTC Charge on REDEMPTION T+2 prior to the delivery of the Singapore Dollars to the Authorized Participant. 
 R1.1.7 If the Trustee has not received the Redemption Order Form from the Authorized Participant within 15 minutes after the Authorized Person placed the phone call to the Trustee, the Trustee places a
phone call to the Authorized Participant to inquire about the status of the order. If the Authorized Participant does not fax the Redemption Order Form to the Trustee within 15 minutes after the Trustee’s phone call, the Authorized
Participant’s order is cancelled, but the Authorized Participant will remain liable to the Trustee for the Transaction Fee, 
 R1.2 If the Trustee has received the Authorized Participant’s Redemption Order Form on time in accordance with the preceding timing rules, then by 4:15 p.m. NYC time on REDEMPTION T, the Trustee will
return to the Authorized Participant a copy of the Redemption Order Form submitted, marking it “Affirmed subject to receipt of Transaction Fee on REDEMPTION T+2 prior to delivery of the Singapore Dollars” and indicating, on a preliminary
basis subject to confirmation, the number of Singapore Dollars the Participant will receive upon redemption of the indicated Basket(s) of Shares. 
 R1.3 NOTES FOR TRUSTEE AND DEPOSITORY (REDEMPTION T) 
 R1.3.1 Based on the
Redemption Orders placed with it on REDEMPTION T, the Trustee sends an email message to the Depository (by CREATION 1+1) indicating the approximate total amount of Singapore Dollars that the Depository will remit to the Authorized Participant on
CREATION T+3. 
 R1.3.2 The Trustee will deliver the authenticated electronic message (SWIFT MT202 or MT103plus) to the
Depository on REDEMPTION T+2 only after confirming the Trustee’s receipt of Shares from the Authorized Participant through DTC. 
  

	R2	REDEMPTION T+1 

 R2.1 Redemption
Orders and related instructions are in process. 
 R2.2 The Depository receives the e-mail from the Trustee notifying the
Depository of the approximate amount of Singapore Dollars needed to be remitted on REDEMPTION T+3 to each Authorized Participant that has placed a Redemption Order 
  

	R3	REDEMPTION T+2 

 R3.1 On
REDEMPTION T+2 the Trustee notifies the Authorized Participant of the final amount of Singapore Dollars that will be delivered to the Authorized Participant on REDEMPTION T+3 (the “Basket Singapore Dollar Amount”). 

R3.2 Prior to the delivery of instructions from the Trustee to the Depository directing the Depository to transfer the Basket Singapore
Dollar Amount on REDEMPTION T+3, the Trustee must have received the Transaction Fees from the Authorized Participant (SPO/DTC Charge). 
 R3.3 By 11:30 a.m. NYC time, the Authorized Participant delivers free to the Trustee’s participant account at DTC (#2209) the Shares to be redeemed. The Authorized Participant telephones the
Trustee’s DTC operations desk to expect the Authorized Participant’s Shares through DTC. 

  
 A-7

 R3.3.1 By 11:30 a.m. NYC time, the Trustee’s DTC operations desk notifies the Trustee
whether the Shares being redeemed by the Authorized Participant have been received into the Trustee’s participant account at DTC. 
 R3.3.2 By 11:30 a.m. NYC time, if the Shares being redeemed by the Authorized Participant have been received into the Trustee’s participant account at DTC, the Trustee’s DTC operations desk
accepts the Shares to be redeemed, notifies the Trustee that the Trustee has received the Authorized Participant’s Shares and identifies the Authorized Participant from whom the Shares have been received. 

R3.3.3 By 11:30 a.m. NYC time, if the Shares of a redeeming Authorized Participant have not been received into the Trustee’s
participant account at DTC, the Trustee’s operations desk notifies the Trustee that the Trustee has not received the Shares from the Authorized Participant, and identifies the Authorized Participant from whom Shares have not been received.

 R3.4 By 1:30 p.m. NYC time on the NY Business Day that is immediately prior to the date that is the Settlement Date under the
Trust Agreement, the Trustee sends an authenticated electronic message (SWIFT MT202 or MT1O3plus) to the Depository directing the Depository to transfer the Basket Singapore Dollar Amount to the accounts of those Authorized Participants from whom
the Trustee has received Shares. 
  

	R4	REDEMPTION T+3 

 R4.1 On
REDEMPTION T+3, the Depository executes the instructions from the Trustee to wire the Basket Singapore Dollar Amount from the Trust Account and to transfer the Basket Singapore Dollar Amount to the Authorized Participant’s designated account.
The Singapore Dollars will be sent to the designated accounts by wire (RTGSplus, EBA EURO I or TARGET). 
 R4.1.1 By DTC free
delivery cut-off time (usually 2:00 p.m. NYC time), the Trustee’s DTC operations desk instructs the Trustee’s transfer agent services desk to eliminate Shares received for redemption. 

R4.1.2 By DTC free delivery cut-off time (usually 2:00 p.m. NYC time), the Trustee’s transfer agent services desk cancels the
Authorized Participant’s Shares received for redemption and reduces the number of Trust Shares outstanding. 
 R4.2
Following the close of business (usually 5:00 p.m. NYC time) on REDEMPTION T+3, the Depository Singapore Dollar system updates its account records, recording the movements of Singapore Dollars in the Deposit Account and providing updated balances in
the affected accounts as of 8:30 a.m. NYC time on the first NY Business Day following the date that is the Settlement Date under the Trust Agreement. 
 R4.3 Following the close of business (usually 5:00 p.m. NYC time) on REDEMPTION T+3, the Depository Singapore Dollar system automatically generates an authenticated electronic message (SWIFT MT140 or
Swift MT950) constituting a statement of the activity affecting the Deposit Account (received only by the Trustee). 

  
 A-8

 Schedule to Exhibit 4.3 
 The following party has executed a separate Participation Agreement with The Bank of New York, as trustee, and Rydex Specialized Products LLC, as sponsor, which is substantially identical in all material
respects to the Participation Agreement filed herewith as Exhibit 4.3 and is dated as of the date listed opposite its name below. 
  

					
	 Name of Party
	  	Date of Agreement	 
	 Merrill Lynch Professional Clearing Corp
	  	 	January 14, 2013	  

 Except as noted above, there are no material details in which the above Participation Agreement differ from the
Participation Agreement filed herewith as Exhibit 4.3.Sanction Agreement

 Exhibit 10.1 

 

			
	

	 	PROMOTER ORIGINAL

 SANCTION AGREEMENT 
 NASCAR Sprint Cup Series 
  

			
	EVENT NAME:	  	Fed Ex “400” benefiting Autism Speaks
		
	DATE OF EVENT:	  	June 2, 2013
		
	PROMOTER:	  	Dover International Speedway, Inc.
		
	TRACK:	  	Dover International Speedway

 P.O. BOX 2875 • DAYTONA BEACH, FLORIDA 32120-2875 • (386) 253-0611 

www.nascar.com 

 SANCTION AGREEMENT 

This Sanction Agreement (“Agreement”) between National Association for Stock Car Auto Racing, Inc. (“NASCAR”), a
corporation with its principal offices located in Daytona Beach, Florida, and PROMOTER (identified on Exhibit 1 to this Agreement), is entered into and is effective as of the Effective Date (specified on Exhibit 1 to this Agreement). 

RECITALS 
 WHEREAS, NASCAR sanctions and conducts, among other things, stock car racing events and series of events throughout the United States and the world; and 

WHEREAS, PROMOTER owns and/or controls the Facility (as hereinafter defined); and 

WHEREAS, PROMOTER wishes to have NASCAR sanction and conduct a stock car racing event, as part of the 2013 NASCAR Sprint Cup Series, at
the Facility; and 
 WHEREAS, NASCAR is willing to sanction and conduct such event for the year 2013 in accordance with the
terms of this Agreement; 
 NOW, THEREFORE, NASCAR and PROMOTER, in consideration of the mutual promises set forth below, and
intending to be legally bound, agree as follows: 
 AGREEMENT 

1. Definitions. In addition to the definitions of words that may appear in other locations in this Agreement, including the
Recitals above, the following words have the following meanings when used in this Agreement: 
  

	 	a)	“Additional Awards” means any monetary or non-monetary award by, or contracted through, PROMOTER, for distribution based upon the Event, other than
(i) purse, (ii) point fund, (iii) Winner’s Circle and Plan awards, and (iv) the entry award for the NASCAR Sprint Cup Series Champion. 

 

	 	b)	“Ancillary Rights” means (i) any and all rights to film, tape, photograph, capture, overhear, collect or record, and to simultaneously or thereafter
reproduce, broadcast, transmit or distribute, by any means, process, medium or device, whether or not currently in existence, all images, sounds and electronic data generated during and in connection with the Events, and (ii) any and all
copyrights and all other intellectual property and proprietary rights worldwide in and to such images, sounds and electronic data, any recording, broadcast or transmission thereof, and any work derived therefrom, provided, however,
that “Ancillary Rights” does not include “Live Broadcast Rights” or rights in or to NASCAR Intellectual Property or Third Party Marks, but shall include rights in or to a live transmission pursuant to a specialty subscription
cable package or product of one or more Events (such as pay-per-view or the like). 

  

	 	c)	 “Competition” means that portion of the Event during which the actual racing competition and all competitive activity related thereto occurs,
including, but not limited to, registration, inspections, 

	 	
time trials, practice runs, pre-race meetings, post-race inspections, either on the date(s) specified in Exhibit 1 hereto or on any postponed dates. 

 

	 	d)	“Competitor” has the same meaning as that term has in the Rule Book. 

 

	 	e)	“Event” means the Competition listed on Exhibit 1 to this Agreement and all other activity at the Facility during the period of time commencing 48 hours prior
to the beginning of registration for the Competition and ending 24 hours after such Competition. 

  

	 	f)	“Event Broadcast Income” means an amount calculated by multiplying the percentage listed in Exhibit 1 of this Agreement by all Live Broadcast Income received
by NASCAR or the NASCAR Rights Affiliate(s) pursuant to Live Broadcast Contract(s) during the calendar year in which the Event is held. 

  

	 	g)	“Event Net Ancillary Rights Income” means an amount calculated by multiplying the percentage set forth in Exhibit 1 of this Agreement by all Net Ancillary
Rights Income received during the calendar year in which the Event is held. 

  

	 	h)	“Facility” means the racetrack listed on Exhibit 1 to this Agreement, the premises upon which the racetrack is located and surrounding the racetrack, all
buildings and other structures thereon, and all airspace above the racetrack and surrounding premises, to the extent owned or controlled by PROMOTER. 

  

	 	i)	“Fiber Optic Connectivity” means the existing permanently installed fiber optic cabling that will be used to connect critical services required by NASCAR
Rights Affiliates, NASCAR and media. NASCAR and NASCAR Rights Affiliates will provide PROMOTER with a detailed specification as to the kind and quality of fiber optic cable and connectors to be provided and detailed location points for access, as
well as a timeline for full implementation. 

  

	 	j)	“Live Broadcast” means the live transmission of the performance of a NASCAR Sprint Cup Series event, and any replay(s) thereof, by broadcast television signal
or cable television signal within the United States, its territories, possessions and commonwealths, plus Bermuda. 

  

	 	k)	“Live Broadcast Rights” means any and all rights to engage in a Live Broadcast and directly related broadcast activity (for example, tape-delayed broadcasts,
single re-broadcasts and support programming). 

  

	 	l)	“Live Broadcast Contract” means any contract, agreement or other enforceable obligation, whether oral or written, entered into between NASCAR or a NASCAR
Rights Affiliate and any other entity or entities, for the license, assignment or other transfer of any Live Broadcast Rights. 

  

	 	m)	“Live Broadcast Income” means all monies actually received by NASCAR or a NASCAR Rights Affiliate pursuant to a Live Broadcast Contract and attributed by
NASCAR to the Live Broadcast of NASCAR Sprint Cup Series events during the calendar year in which the Event is held. 

  

	 	n)	“NASCAR Intellectual Property” means all trademarks, service marks, trade names, patents, copyrights, domain names, trade dress and the like owned by NASCAR,
excluding Live Broadcast Rights and Ancillary Rights and any work derived therefrom. 

  

	 	o)	“NASCAR Rights Affiliate” means any corporation, partnership or other legal entity that is (1) an affiliate or an assignee of NASCAR or controlled,
directly or indirectly by NASCAR, and (2) engaged solely in the business of exploiting Live Broadcast Rights or Ancillary Rights for purposes of generating Live Broadcast Income and Net Ancillary Rights Income and performing all necessary
activities incident thereto. 

  
 2 

	 	p)	“Net Ancillary Rights Income” means the aggregate gross revenue received by NASCAR and all NASCAR Rights Affiliates, during the calendar year in which the
Event is held, as a result of the exploitation of Ancillary Rights and Live Broadcast Rights, reduced by (i) Live Broadcast Income received during the relevant calendar year, and (ii) the aggregate of all reasonable deductions of NASCAR or
the NASCAR Rights Affiliates, including but not limited to ordinary business expenses, amortization, depreciation and federal and state income and property taxes; provided, however, that in no event shall Net Ancillary Rights Income
include income, revenue or any other consideration received or generated by NASCAR for the license of, assignment of, or other transfer of rights in or to, any NASCAR Intellectual Property, including without limitation transfers in connection with
the sale, advertising or promotion by NASCAR or any third party of products or services of any nature. 

  

	 	q)	“Official” means “NASCAR Officials” and “NASCAR Supervisory Officials” as those terms are defined in the Rule Book.

  

	 	r)	“Rule Book” means the Rule Book published by NASCAR for NASCAR Sprint Cup Series events that is in effect at the time of the Event, and any amendments thereto
and other special rules published by NASCAR specifically for the Event. 

 NASCAR’S GENERAL OBLIGATIONS

 2. Sanction For Event. NASCAR hereby grants its sanction to PROMOTER for the Competition. So long as
such sanction is in effect and not terminated, PROMOTER shall organize, promote and hold the Event, including the Competition, in accordance with this Agreement. 
 3. Conduct and Control Over Competition. NASCAR shall conduct the Competition, through its officers and designated Officials, in accordance with the Rule Book, this Agreement, the Official
Entry Blank, and any amendments to the Rule Book and/or Official Entry Blank. NASCAR shall have sole control over the conduct of the Competition in all of its phases, including, but not limited to, control of the racing surface, pits and pit lane,
garage area and scoring stand during all Competition-related activities, throughout the Event. Interpretation and application of the Rule Book are committed to NASCAR’s sole discretion, and are final and unreviewable except to the extent
provided in the Rule Book. PROMOTER shall cooperate fully with NASCAR to permit it to conduct the Competition in accordance with this Agreement and the Rule Book. 
 4. Postponement. NASCAR will attempt to consult with PROMOTER regarding postponement of a Competition, but the decision to postpone a Competition and the selection of the postponed date will
be made by NASCAR and will be binding on PROMOTER. PROMOTER shall not publish or otherwise announce a postponement of the Competition and/or a postponed date for the Competition without the prior written approval of NASCAR. If PROMOTER makes such a
publication or announcement without NASCAR’s prior written approval, it shall not be binding upon NASCAR and PROMOTER shall hold NASCAR harmless for any and all expense, loss or damage caused by such publication or announcement. 

PROMOTER’S GENERAL OBLIGATIONS 
 5. Control and Maintenance of the Facility. PROMOTER represents and warrants that, in connection with the Event, it currently has and will maintain sole control of the Facility, and that it
has and will maintain full authority to permit the Event to be conducted at the Facility. PROMOTER shall maintain the Facility in good repair at all times relevant to the Event, ready for use by Competitors, Officials, NASCAR, sponsors, and persons
or entities involved in the Live Broadcast of or creation or exploitation of Ancillary Rights at the Event. PROMOTER is solely responsible and liable for the safety of such persons while on, entering or leaving the Facility. PROMOTER warrants that
the Facility is 

  
 3 

 
and will remain in a condition suitable for the Event, that the racing surface of the track will not be substantially altered or changed (whether by painting, sealing, resurfacing or otherwise)
without the prior written consent of NASCAR and that the PROMOTER will advise NASCAR in writing in advance of any and all planned improvements or alterations to those portions of the facility that are related to the competition. 

6. Repairs and Upgrades to the Facility. Upon request, PROMOTER shall provide NASCAR or its designated representative(s)
full access to the Facility. If NASCAR determines that the Facility or any part of it is in a condition unsatisfactory for the Event, including without limitation the surface of the racetrack, barriers, fencing, retaining systems, SAFER barrier
systems, the garage area, the pit area, race control, timing and scoring areas, registration areas, and areas, structures or equipment used for the Live Broadcast of or the creation or exploitation of Ancillary Rights at the Event, PROMOTER shall
repair, replace or upgrade the unsatisfactory portion to the satisfaction of NASCAR. If NASCAR determines that it is necessary to resurface the racetrack, such resurfacing shall be completed by PROMOTER sufficiently in advance of the Event to allow
for tire and private car testing. If NASCAR determines that there is insufficient time to place the racetrack, or any other portion of the Facility, in a condition suitable for the Event, NASCAR may postpone or cancel the Event. Notwithstanding the
foregoing or any other term of this Agreement, PROMOTER is solely responsible for the safety of the Facility and is solely liable for injury or damage caused by or arising out of the condition of the Facility. 

7. Compliance with Laws. PROMOTER shall comply with all local, state and federal laws and regulations applicable to the
organization, promotion and occurrence of the Event and shall obtain all necessary licenses, permits or other governmental approvals required for the Event. PROMOTER shall make all appropriate filings of forms or other documents required by federal,
state or local laws in connection with the Event. PROMOTER shall be solely responsible for compliance with any and all federal, state or other tax information reporting and withholding obligations (including, but not limited to, Federal Form 1099)
with respect to the purse or other amounts payable with respect to the Event. 
 8. Control of and Responsibility for the
Public. PROMOTER is solely responsible and liable for the safety of the public during the Event. PROMOTER shall furnish adequate facilities, personnel (including security personnel), equipment and services for accommodating and controlling
the public and adhering to NASCAR’s required security standards during the Event provided that PROMOTER is given a copy of such required security standards prior to the Event. PROMOTER is solely responsible for the condition, actions and
operations of such facilities, personnel, equipment and services before, during and after the Event. 
 9. Personnel and
Equipment for the Conduct of the Event and Live Broadcast and Ancillary Rights Activities. PROMOTER shall provide access to the Facility for any person or entity involved in the conduct of the Event, including without limitation NASCAR
employees, agents and Officials, and shall furnish adequate facilities, support personnel, equipment, and related security, for use by NASCAR in the exercise of NASCAR’s rights and obligations, as they may be requested by NASCAR from time to
time, including but not limited to facilities for office administration, registration, timing, scoring, car inspection, race direction, officiating and prize money distribution. PROMOTER shall also provide access to the Facility for any person or
entity involved in the Live Broadcast of or the creation or exploitation of Ancillary Rights at the Event, and adequate facilities, support personnel, equipment, and related security, for use by such persons or entities in the performance of their
duties, as they may be requested by NASCAR from time to time. Without in any way limiting the foregoing, PROMOTER shall, with respect to the Event: 
  

	 	a)	provide one (1) or more television monitors, in locations to be specified by NASCAR, with all related equipment necessary for such monitors to be connected to
video and audio equipment used by the entity principally involved in the Live Broadcast of the Event, in order to provide to NASCAR Officials live video on such monitors and the ability to switch instantaneously its view on the monitors among the
different camera locations used by such entity, at all times during the Event when all or a portion of the Event is being videotaped, broadcast, monitored and/or recorded; 

  
 4 

	 	b)	provide NASCAR with two (2) pace vehicles with automatic transmissions, each with the NASCAR mark or logo (as designated by NASCAR) displayed on the side in a
manner and size which is visible to all persons on the racetrack, in the viewing area and in all locations where NASCAR Officials are visually monitoring the Event; 

 

	 	c)	provide NASCAR prior to the Event with a list of the track radio frequencies to be used for the Event, including but not limited to frequencies to be used for
maintenance, police and security personnel; 

  

	 	d)	cooperate with NASCAR in pre-race and Victory Lane ceremonies, award presentations and photographs, including without limitation ensuring that NASCAR has reasonable
time immediately following the Competition for Victory Lane ceremonies, NASCAR award presentations and NASCAR sponsor recognitions ensuring that the content and placement of the Victory Lane backdrop is pre-approved by NASCAR;

  

	 	e)	have readily available quantities of oil dry acceptable to NASCAR when the track opens for practice and at all other times during the Event, and adequate personnel and
equipment to spread the oil dry at NASCAR’s direction; 

  

	 	f)	provide personnel to secure the entry into the pits and garage areas during competition periods at NASCAR’s direction; 

 

	 	g)	provide personnel to secure the garage area on a continuous, 24-hour/day basis beginning the first day the Facility is open for inspection and ending when released by
the NASCAR Sprint Cup Series Director; 

  

	 	h)	deliver to the garage area before the morning of raceday a minimum of 150 chairs for use by Competitors at the pre-race meeting; provide an enclosed, climate-controlled
area of adequate size, as determined by NASCAR, in the garage area in which NASCAR can conduct pre-race meetings, safety meetings and other assemblies during the Event and ensure that no pre-race activities are scheduled that would cause a
disruption or distraction during the scheduled pre-race meeting; 

  

	 	i)	line and number each pit with appropriate paint, line and paint traffic lanes in the garage and garage area and fire lanes behind the active pit lane when and where
needed, and repaint all start/finish, scoring, third turn and re-entry cutoff lines; 

  

	 	j)	coordinate with NASCAR all tours of the garage areas, including the times, number of participants and other arrangements; 

 

	 	k)	provide a suitable location (as determined by NASCAR) for a minimum of four (4) large trailers containing NASCAR equipment and facilities, adequate electricity
(including without limitation 220 volts 100 amps services with female range outlets for the NASCAR trailers), air conditioning, heat, telephone (including a track phone extension) and water facilities as requested by NASCAR;

  

	 	l)	coordinate with NASCAR to ensure that NASCAR has a minimum often (10) minutes immediately before, during or after driver introductions for NASCAR awards
presentations; 

  
 5 

	 	m)	provide a control tower of adequate size, as determined by NASCAR, with an unobstructed view of the racing surface for the purpose of monitoring the Event by NASCAR
personnel and others, with electricity, air conditioning, heat, telephone (including a track phone extension), a sufficient number of chairs (minimum of 14) with cushions for all operational personnel, television monitors for both feeds (as set
forth in Section 9.a), water facilities and other utilities, supplies and equipment as requested by NASCAR; 

  

	 	n)	provide a registration facility of adequate size in the garage area, with electricity, air conditioning, heat, telephone (including a track phone extension), chairs
with cushions, water facilities and other utilities, supplies and equipment as requested by NASCAR; 

  

	 	o)	provide adequate trash receptacles in the garage and pit areas and coordinate with the NASCAR Sprint Cup Series Director the times for trash pick up by track personnel;

  

	 	p)	provide adequate personnel to sweep and clean up the garage and pit areas on a daily basis; 

 

	 	q)	provide adequate parking areas and parking passes/permits for a minimum of three hundred twenty-five (325) vehicles, for the exclusive use of Competitors and
NASCAR Officials adjacent to or near the garage area, and an additional fifty (50) parking places and passes/permits in close proximity to the NASCAR track suite to be used at NASCAR’s discretion; 

 

	 	r)	provide NASCAR with an observation booth no less than six hundred (600) square feet, air conditioned, heated, with electricity, television monitors, etc., with an
unobstructed view of the racing surface and adequate seating for the purpose of monitoring the Event by NASCAR personnel and others, including all necessary admission tickets and/or access stickers for personnel to gain admission to the observation
booth, during the Event; 

  

	 	s)	provide NASCAR with two hundred twenty-five (225) reserved choice grandstand admission tickets, for the Event and two hundred (200) choice grandstand tickets
for NASCAR Sprint Cup Series Coors Light Pole Qualifying, such tickets to be delivered to NASCAR no later than thirty (30) calendar days prior to the Event 

 

	 	t)	enter, and use its best efforts to cause any manufacturer of Event merchandise to enter, into a cross licensing agreement with NASCAR to use the NASCAR Marks (as
defined in Section 19.a) below) in conjunction with all Event merchandise; 

  

	 	u)	prominently display (by painting or otherwise) the Official Logos (as defined in subsection 19.a)i)) in and around the Facility, and in all promotion of the Event, to
NASCAR’s satisfaction, including but not limited to: 

  

	 	i)	at all Facility entrances in some fashion such as flags and/or banners; 

  

	 	ii)	in an area inside the track, such as the infield grass, such that it is highly visible to grandstand seating and from the air; 

 

	 	iii)	in the backdrop to Victory Lane and pre-race ceremonies; 

  

	 	iv)	on any and all print and television advertising promoting the Event; 

  

	 	v)	on the front cover of the Event Program; 

  
 6 

	 	vi)	on any and all Event tickets, suite passes, and credentials; 

  

	 	vii)	in the Track Media Center and on all PROMOTER - owned media backdrops; 

 provided, however, that the Official Logos shall not, without NASCAR’s prior written approval, be placed in close proximity to a third party’s marks so as to create a commercial
impression that the third party is associated with NASCAR or the NASCAR Sprint Cup Series; 
  

	 	v)	cooperate fully with nascar.com staff, including but not limited to prominently displaying (by painting or otherwise) the nascar.com address in an area of the track,
such as the infield grass, that is highly visible to grandstand seating and from the air. 

  

	 	w)	cooperate fully with the NASCAR public relations staff; 

  

	 	x)	cooperate fully with any entity involved in the exploitation of Live Broadcast Rights or Ancillary Rights (“Entity”), including but not limited to:

  

	 	i)	providing reasonable access to the Facility for the purpose of facilitating the Entity’s broadcast, transmission, or recording of the Event (including free parking
for any and all Entity employees and equipment), including but not limited to providing reasonable space and locations as determined by the Entity for its announcers, and for the installation and operation of all microphones, television cameras, and
related equipment to be used by such Entity in connection with its production and transmission (including satellite uplink); 

  
 7 

	 	ii)	supplying and assuring the availability of such electrical power as is necessary to operate such equipment and all necessary lighting for a first quality television
production in color; 

  

	 	iii)	permitting the Entity to install, maintain, and remove from the Facility such wires, cables, and equipment as may be necessary for the Event; 

 

	 	iv)	permitting installation of announcers’ booths, camera platforms, and similar structures for the facilitation of broadcast productions of motorsports events;

  

	 	v)	providing adequate and necessary space for any mobile units, trailers and other necessary support units required by the Entity for the transportation and maintenance of
equipment and personnel by the Entity, including, but not limited to, a fenced and secured television compound in reasonably close proximity to the racing surface and the announce booths of no less than sixty-two thousand five hundred
(62,500) square feet in total area and, if possible, laid out in one contiguous square with dimensions of two hundred fifty (250) feet by two hundred fifty (250) feet, for locating broadcast mobile units, support units, office units,
satellite uplinks, catering, golf cart parking, generators, timing and scoring apparatus trailer, and other related equipment and supplies; and a separate, suitable, secured area in the infield (as applicable) for mobile studio facilities and other
broadcast-related units and equipment; 

  

	 	vi)	providing a booth across from the Start/Finish line up to current network broadcast standards, and use best efforts to provide a second booth meeting the same criteria
listed herein and adjoining to the first booth if possible, with a clear view of the entire track, with sufficient space to accommodate a minimum of five (5) people (the booth shall be at least twenty (20) feet wide and ten (10) feet
deep with a counter twenty (20) inches deep), air-conditioned to sixty-eight (68) degrees Fahrenheit, adjustable sun screens or removable tinting on all exterior windows, black interior walls, as sound proof as practical, wired for one
hundred-twenty (120) volts AC with outlets on the front and side walls, with five (5) chairs with back support, tables, monitor tables, and with door(s) that can be locked and secured; 

 

	 	vii)	cooperating with NASCAR and any Entity to ensure exclusive, and if necessary secure or encrypted, radio frequencies; 

 

	 	viii)	providing meaningful advanced consultation with NASCAR and the Entity regarding any talent including, but not limited to, pre- and/or post-race concert performer(s),
national anthem performer(s), invocation deliverer(s), grand marshal(s), engine start command deliverer(s), honorary starter(s), celebrities, sports figures, political representatives and/or guests who might take part in pre-race ceremonies, or
others with whom PROMOTER arranges for or contracts with to participate in the Event; and 

  

	 	y)	with respect to any Entity transmitting the Live Broadcast, in addition to the requirements of Section 9.x) PROMOTER shall: 

 

	 	i)	provide a maximum of three hundred (300) choice complimentary tickets for the Competition and all other activities during the Event, provided that NASCAR
shall require the Entity to notify PROMOTER of the number of such tickets it requires not later than ninety (90) days prior to the date of the Event; 

  
 8 

	 	ii)	provide use of one (1) standard luxury track suite, and use best efforts to provide a second standard luxury track suite, for the Competition and all other
activities during the Event including all necessary suite passes and suite parking; 

  

	 	iii)	prominently display Entity’s (or joint Entity/NASCAR) logo painted in an area inside the track, such as the infield grass, such that it is highly visible to
grandstand seating, television cameras and from the air and also display four (4) standard size signs, to the Entity’s specifications within the Facility, subject to the reasonable approval of PROMOTER and NASCAR; 

 

	 	iv)	provide such Entity with one (1) full page four (4) color advertisement in each Event Program; 

 

	 	v)	cooperate fully with any and all requests made by NASCAR with respect to local TV coverage, including but not limited to allowing such Entity to have absolute priority
with respect to camera and announcing positions, ensuring that local TV crews do not in any way interfere with such Entity’s production, ensuring that such local TV coverage will be limited to no more than two (2) minutes of action of
competition, which will not be broadcast until completion of such Entity’s first telecast of the Competition and not later than ninety-six (96) hours following the completion of the Competition, and ensuring local TV crews do not provide
footage to any regional or national network or news feed; 

  

	 	vi)	permit such Entity, if requested in a timely manner, to purchase Event hospitality chalets; 

 

	 	vii)	use its reasonable efforts to cause the title sponsor of the Event to buy advertising in the telecasts of the Event; NASCAR shall in turn include in the Live Broadcast
Contract(s) provisions that (a) prohibit the Entity from identifying the Event by any name other than the official event title, as designated by the PROMOTER, or identifying the Facility by any name other than its official name, as designated
by the PROMOTER, (b) require the Entity to identify the Event by its official event title, as designated by the PROMOTER, excluding any presenting sponsors, at least once during the opening segment of the telecast and thereafter at least once
during each hour of the telecast, and (c) prohibit the Entity from superimposing, inserting or otherwise incorporating on-screen any electronic or “virtual” signage, promotion or other commercial designation that alters for the
television viewer the actual appearance of the Facility or any portion thereof without the prior written approval of PROMOTER and NASCAR; 

  

	 	viii)	at least ninety (90) days prior to the Event, send such Entity and NASCAR and any international telecaster scheduled to be broadcasting from the Facility a list
naming all musical compositions scheduled to be played during the Competition or at any other time when such Entity or international telecaster is scheduled to be broadcasting from the Facility in connection with the Event, which shall include the
title of each composition and the name of the composer, publisher, copyright holder, and performing rights holder; and if such Entity is unable to transmit such composition with respect to the Live Broadcast of the Event without additional expense
and authorizations, PROMOTER agrees (a) to obtain, at PROMOTER’S expense, authorization to transmit such composition or (b) not to play such composition at a time when the Entity is scheduled to be broadcasting from the Facility in
connection with the Event; 

  

	 	ix)	insure that the Start/Finish line is newly painted prior to the start of the Competition. 

10. Fire and Medical Equipment and Personnel. PROMOTER shall provide adequate facilities, personnel, equipment and
services, including without limitation cleanup crews, towing and flatbed wreckers, jet dryers, ambulances, emergency vehicles, medical evacuation helicopter, fire trucks for fire protection and on-site medical services for Competitors, Officials,
the public and others in connection with the Event, all of which shall be on-site and in a state to be fully operational prior to the commencement of the Competition. PROMOTER shall adhere to NASCAR’s required

  
 9 

 
medical standards, provided that PROMOTER is given a copy of such medical standards prior to the Event, and make advance arrangements with local hospitals and physicians for the prompt, efficient
and appropriate treatment of any and all injuries occurring during the Event. 
 11. Security For Pit and Garage
Area. PROMOTER shall furnish adequate security personnel and equipment (in addition to the requirements of Sections 8 and 9) in the pit and garage area. PROMOTER shall limit access to such areas before, during and after the Event solely to
authorized individuals (who must have NASCAR-approved credentials) and equipment. The PROMOTER will ensure that all persons who enter restricted areas such as the garage and pits as guests of the PROMOTER or otherwise, sign the standard Release and
Waiver of Liability and Indemnity Agreement and, upon request by NASCAR, provide copies of the signed Releases to NASCAR. PROMOTER is solely responsible and liable for the actions of security personnel, provided, however, that PROMOTER
shall ensure that all such security personnel will abide by such directions or comply with such requests as NASCAR may issue or make from time to time. PROMOTER will permit any current, valid NASCAR-licensed members, NASCAR guests, and/or any other
persons designated by NASCAR access to the Facility or portions of the Facility in accordance with the type of credential issued to them by NASCAR. Pursuant to any exploitation of Live Broadcast Rights or Ancillary Rights, NASCAR shall administer
and coordinate Event access for all non-news media, but may assign such responsibility to a NASCAR Rights Affiliate(s). 

12. Business Responsibilities Relating to Promotion. PROMOTER shall perform all obligations imposed on it by this
Agreement, including all obligations to provide cooperation, tickets, passes, services and support equipment set forth in Section 9 of this Agreement, at its own expense, without contribution by NASCAR. PROMOTER assumes and will perform all
business responsibilities in connection with the promotion of the Event (except as otherwise provided by this Agreement), including without limitation business organization, promotional activities, management, general business affairs, ticket sales,
Facility operation and press accommodations. 
 13. Other Track Activities. PROMOTER shall not schedule or permit
any private race car practice or test runs at the Facility for the seven (7) calendar days immediately preceding the first day of official practice for the Event without prior written approval by NASCAR. At all times during the calendar year of
the Event, PROMOTER agrees to adhere to all terms and conditions of the NASCAR Sprint Cup Series Private Race Car Testing Policy, as it may be amended from time to time, provided that PROMOTER is given a copy of such Policy prior to the start of the
season. PROMOTER shall not allow any private race car testing at the Facility that violates the Policy in effect at the time. PROMOTER shall not schedule or permit any other entertainment activities at the Facility during the Event without prior
written approval by NASCAR. PROMOTER shall notify NASCAR at least thirty (30) calendar days prior to the Event of its intention to conduct or permit any such activities. NASCAR may at its discretion grant its approval with or without condition,
but it shall not unreasonably withhold or condition its approval. Except with respect to scheduling as set forth herein, NASCAR shall have no responsibility or liability with respect to such activities, and PROMOTER shall be solely responsible and
liable for such activities. The entertainment activities covered by this Section 13 include without limitation other motorsports events, thrill shows, live performances and/or helicopter rides. 

OFFICIAL ENTRY BLANK AND AWARDS 
 14. Preparation And Publication of Official Entry Blank. NASCAR shall compose, print, publish and distribute the Official Entry Blank (“OEB”) for the Event. The OEB shall be the
sole official statement as to the date, place, schedule and length of the Event, the eligibility requirements for Competitors, and monetary and non-monetary awards. PROMOTER shall not publish an official or unofficial entry blank or supplement, or
any other form setting forth monetary or non-monetary awards, without prior written approval from NASCAR. PROMOTER shall not advertise or otherwise disseminate any information as to monetary or non-monetary awards for the Event other than those
specified in the OEB or NASCAR-approved supplement. If PROMOTER engages in such publication, advertising or dissemination, PROMOTER shall hold NASCAR harmless for any and all loss, expense or damage arising out of such activity, and

  
 10 

 
NASCAR at its option may also terminate the sanction granted by this Agreement and/or pursue any other remedies against PROMOTER. 

15. Additional Awards. 
  

	 	a)	If PROMOTER contracts for Additional Awards, then, subject to the provisions of Section 14, NASCAR may publish and distribute a supplement to the OEB posting the
Additional Award(s). 

  

	 	b)	PROMOTER shall submit to NASCAR, no later than sixty (60) calendar days prior to the date of the Event, a list of any and all proposed Additional Awards for the
Event. PROMOTER shall obtain NASCAR’s written consent prior to contracting for any Additional Award. NASCAR may reject a proposed Additional Award in its entirety, require different terms for the proposed Additional Award, or require a
reallocation of the distribution of such an award among Competitors, if in NASCAR’s sole judgment the proposed award will not advance the nature of the competition, will have an adverse impact on the Event, or will be detrimental to the sport
of automobile racing, NASCAR, any sponsors of the Event, or any sponsors of the NASCAR Sprint Cup Series. PROMOTER assumes full responsibility for, and will indemnify NASCAR against, any loss, expense or damage incurred as a result of NASCAR’s
determination with respect to any proposed award arranged by or through PROMOTER. All Additional Awards are subject to independent verification by NASCAR. 

 16. Unauthorized Awards. PROMOTER shall not offer an award of any kind, at the Event or any other NASCAR-sanctioned event, or any other non-NASCAR sanctioned event, which in any way utilizes
or relies upon the points system, money standings, or any other NASCAR-sanctioned race related results, without NASCAR’s prior written approval. If PROMOTER offers such an award without NASCAR’s prior written approval, NASCAR may terminate
the sanction granted by this Agreement and/or seek to prohibit or enjoin PROMOTER from offering such an award and/or pursue any other remedies available to it. If such an award is offered by a third party without NASCAR’s prior written
approval, PROMOTER shall cooperate with NASCAR to prohibit or enjoin the third party from offering such an award. Cooperation by PROMOTER shall include, but is not limited to, the assignment of PROMOTER’s rights to enjoin the third party. If
PROMOTER, in NASCAR’s sole judgment, fails to cooperate fully with NASCAR to prohibit or enjoin such an award, NASCAR at its option may terminate the sanction granted by this Agreement and/or pursue any other remedies available to it.

 PROMOTER’S FINANCIAL AND INSURANCE OBLIGATIONS 

17. Sanction Fee, Purse and Point Fund Monies. PROMOTER shall pay to Awards & Achievement Bureau, Inc., a Florida
Corporation, acting as an independent escrow agent, pursuant to the Escrow Agreement attached hereto as Exhibit 2, not later than the Payment Date set forth in Exhibit 1 to this Agreement, by wire transfer of funds, an amount equal to the sum of
PROMOTER’S Purse Money, Point Fund, Television Award Money and Sanction Fee set forth in Exhibit 1 to this Agreement, plus any other monies due NASCAR for the Event pursuant to this Agreement, unless otherwise directed by NASCAR in writing.
Time is of the essence. If said monies and fees are not paid in the manner required and by the Payment Date specified in Exhibit 1 to this Agreement, NASCAR at its option may (a) terminate the sanction granted by this Agreement,
(b) enforce collection of said monies and fees by suit or legal action, and/or (c) pursue any other remedies available to it. 
 18. Insurance. 
  

	 	a)	 Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR for the Event
from an insurance company that is acceptable to NASCAR for (i) spectator injury and property damage and (ii) participant legal 

  
 11 

	 	
liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical
malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR approves a lesser limit in writing prior to the Event). NASCAR may require that PROMOTER obtain such insurance in greater amount or scope by
providing notice to PROMOTER at least one hundred twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this
Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies),
including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and
Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car
sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR has contracted with respect to the exploitation of Live Broadcast Rights and
Ancillary Rights. All policies shall be primary regardless of insurance carried by NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCAR. If (a) PROMOTER fails to deliver such policies to NASCAR by
the Notification Date, (b) the policies are not acceptable to NASCAR, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR at its option but at PROMOTER’s expense may obtain
the required insurance from an acceptable insurance company or NASCAR may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it. 

 

	 	b)	Broadcast Insurance. NASCAR shall require the Entity providing the Live Broadcast to maintain statutory and workers’ compensation coverages.
NASCAR shall require the Entity providing the Live Broadcast to name PROMOTER and NASCAR as additional insureds on its broadcast and comprehensive general liability policies. These policies shall have a limit of at least One Million Dollars ($ 1
million) per occurrence and Two Million Dollars ($2 million) annual aggregate. 

  

	 	c)	NASCAR Insurance Plan. The NASCAR insurance plan (participant/accident coverage in place for NASCAR-licensed Competitors in NASCAR-sanctioned racing) is
not applicable to and does not provide coverage for Competitors, whether NASCAR-licensed or not, in any non-NASCAR- sanctioned racing or other activities at the Facility during the Event that are not expressly listed in this Agreement or in a fully
executed NASCAR sanction agreement pertaining to another NASCAR series running during the Event. 

ADVERTISING AND USE OF MARKS 
 19. Cross Trademark Licenses. 
  

	 	a)	Grant of License by NASCAR. NASCAR hereby grants to PROMOTER a non-transferable, non-exclusive, royalty-free license to use, strictly in accordance with
the terms of this Agreement, the NASCAR and NASCAR Sprint Cup Series marks listed on Exhibit 3 to this Agreement (collectively, the “NASCAR Marks”) in connection with the publicity, promotion and advertising of the Event. This license
shall terminate upon the expiration or termination of the sanction granted by this Agreement. 

  
 12 

	 	i)	Terms and Conditions of Use. PROMOTER shall display the official NASCAR logo, the official NASCAR Sprint Cup Series logo and the phrase
“NASCAR-Sanctioned NASCAR Sprint Cup Series Championship Event” (collectively, the “Official Logos”) in all publicity, advertising and promotion relating to the Event, in accordance with Section 9.u) of this Agreement. The
number and specific location of such displays and the color and size of the Official Logos shall be subject to NASCAR’s approval, and PROMOTER shall abide by and comply with all determinations and directives of NASCAR with respect to such
matters. NASCAR may disapprove and prohibit PROMOTER’s actual or intended use of the NASCAR Marks in any location, media or publication if NASCAR determines that such use is or will be detrimental to NASCAR, to the Event, to the series of which
the Event is a part, or to the sport. 

  

	 	ii)	Limited Authorization. This license does not authorize PROMOTER to use the NASCAR Marks in its corporate business or firm name and title nor to use or
permit the use of the Marks other than in accordance with the terms and conditions of this Agreement. 

  

	 	iii)	Indemnity. NASCAR hereby agrees to indemnify PROMOTER from any claims or loss arising out of PROMOTER’s use of the NASCAR Marks in accordance with
the terms and conditions of this Agreement. 

  

	 	b)	Grant of License by PROMOTER. PROMOTER hereby grants to NASCAR a non-transferable, non-exclusive, royalty-free license to use and sublicense, strictly in
accordance with this Agreement, PROMOTER’s Marks listed on Exhibit 4 to this Agreement (collectively, the “PROMOTER’s Marks”) in connection with publicity, promotion and advertising of the Event and the NASCAR Sprint Cup Series,
the publicity, promotion and advertising of the NASCAR Hall of Fame, and the exploitation of Live Broadcast Rights and Ancillary Rights. This license shall be perpetual with respect to the exploitation of Live Broadcast Rights and Ancillary Rights
and the publicity, promotion and advertising of the NASCAR Hall of Fame; with respect to all other rights, this license shall terminate upon the expiration or termination of the sanction granted by this Agreement. 

 

	 	i)	Terms and Conditions of Use. NASCAR shall have the right to use and sublicense PROMOTER’s Marks in connection with publicity, promotion or
advertising of the Event and the NASCAR Sprint Cup Series, and the exploitation of Live Broadcast Rights and Ancillary Rights, provided, however, that NASCAR shall not, without the prior written consent of PROMOTER, use or sublicense
the use of PROMOTER’s Marks on the branding of any retail package product, unless otherwise expressly permitted in this Agreement. 

  

	 	ii)	Limited Authorization. This license does not authorize NASCAR to use PROMOTER’s Marks in its corporate business or firm name and title nor to use or
permit the use of PROMOTER’s Marks other than in accordance with the terms and conditions of this Agreement. 

  

	 	iii)	Indemnity. PROMOTER hereby agrees to indemnify NASCAR from any claims or loss arising out of NASCAR’s use of PROMOTER’s Marks in accordance with
the terms and conditions of this Agreement. 

 20. Limited Assignment of Certain Other Rights.
Solely to the extent that any other person or entity grants to NASCAR rights to use and sublicense their name(s), picture(s), likeness(es) or performance(s) in connection with the Event, NASCAR hereby grants to PROMOTER a non-exclusive sublicense to
use such name(s), picture(s), likeness(es) 

  
 13 

 
of performance(s) for the purpose of publicizing, promoting or advertising the Event, but not for the purpose of exploiting Live Broadcast Rights or Ancillary Rights. Notwithstanding the
foregoing, NASCAR may disapprove and prohibit PROMOTER’S actual or intended use of such name, picture, likeness or performance if NASCAR determines that such use is or will be detrimental to NASCAR, to the Event, to the series of which the
Event is a part, or to the sport. 
 21. Misrepresentations. PROMOTER shall make no misrepresentations of fact in
connection with publicizing, promoting or advertising the Event. If such a misrepresentation is made (a) PROMOTER shall promptly correct the misrepresentation through a subsequent PROMOTER publication, (b) NASCAR may correct the
misrepresentation itself through NASCAR publication at PROMOTER’S expense, (c) NASCAR may terminate the sanction granted by this Agreement, and/or (d) NASCAR may pursue any other remedies available to it. 

22. Cooperation with Sponsors. PROMOTER acknowledges that the Event is part of the NASCAR Sprint Cup Series. PROMOTER shall
cooperate fully with NASCAR, with the series sponsor(s), and with any other company that has contracted with NASCAR to sponsor awards or programs (including without limitation the Coors Light Pole Award or the Raybestos Brakes Rookie-of-the-Year
Award) that are based in whole or in part on a Competitor’s performance in the Event or over a number of NASCAR Sprint Cup Series events, in connection with those sponsors’ activities, if any, during the Event. PROMOTER, on its own and at
the request of NASCAR, will use its best efforts to feature such sponsors prominently in all of PROMOTER’S advertising, publicity and promotion in connection with the Event, and no competitor of such a sponsor shall be featured therein as
prominently as such sponsor. PROMOTER shall take no action that, in NASCAR’s sole determination, will jeopardize the maintenance or continuation of such sponsorships. In the event that the series title sponsorship or official fuel supplier
changes after the Effective Date of this Agreement and prior to the conclusion of the Event, PROMOTER will not renew, extend or enter into any new agreement with any sponsor that represents a conflict with the new series sponsor or official fuel
supplier during the Event. The determination of what constitutes a conflict shall be at NASCAR’s sole discretion. PROMOTER will use its best efforts to resolve all existing sponsor conflicts, if any, relative to these categories in an
expeditious manner. PROMOTER will maintain the full inventory of at-track and Event-related benefits provided by the PROMOTER to the current series sponsor for the availability of a new series sponsor. PROMOTER will maintain the full inventory of
at-track and Event-related benefits provided by the PROMOTER to the current official fuel supplier for the availability of a new official fuel supplier, provided that the new series sponsor and the new official fuel sponsor shall enter into a
licensing agreement with the PROMOTER with respect to such rights. PROMOTER shall permit the use of the PROMOTER’s Marks by the new series sponsor and by the new official fuel supplier for the purposes of reporting, promoting, publicizing, and
advertising the Event, the Series, and/or the new series sponsor’s or new official fuel supplier’s product/service affiliation with the Event and/or the Series. 
 23. Approval of Advertising and Sponsors. NASCAR reserves the right to approve or disapprove any advertising, sponsorship or similar agreement in connection with the Event. PROMOTER
acknowledges that the sale or use, for advertising purposes, of space at the Facility or in any publications distributed in connection with the Event is an action that could have an impact upon the existing sponsorships described in Section 22
above, or on third parties who have entered into contracts or other agreements with NASCAR or NASCAR Rights Affiliates with respect to Live Broadcast Rights or Ancillary Rights. PROMOTER shall seek written approval by NASCAR prior to such sale to or
use by competitors of such sponsors or third parties, which NASCAR may provide or withhold in its sole discretion. 
 24.
National Program Package. PROMOTER shall participate in the NASCAR National Program Ad Package, including the rules and regulations relating thereto, if offered. 
 BROADCAST RIGHTS 
 25. Ownership of Live Broadcast Rights and
Ancillary Rights. PROMOTER acknowledges that NASCAR, as the entity conducting the Competition, exclusively and in perpetuity owns the Live Broadcast Rights and Ancillary Rights with respect to the Competition. In addition, to the extent not
already owned by NASCAR, PROMOTER hereby 

  
 14 

 
assigns to NASCAR exclusively and in perpetuity any and all rights to transmit, film, tape, capture, overhear, photograph, collect or record by any means, process, medium or device, whether or
not currently in existence, all images, sounds and data arising from or during the Event and agrees that NASCAR shall be the sole owner of the Live Broadcast Rights and the Ancillary Rights and any other works, copyrightable or otherwise, created
from the images, sounds and data arising from or during the Event. PROMOTER represents and warrants that as of the date of this Agreement, it has not granted to any third party the rights granted in the immediately prior sentence, including but not
limited to rights relating to the Internet or World Wide Web, unless otherwise expressly disclosed in writing to NASCAR prior to the date of this Agreement. PROMOTER shall take all steps reasonably necessary, and all steps reasonably requested by
NASCAR, to protect, perfect or effectuate NASCAR’s ownership or other interest in the rights that are the subject of this Section 25. Without limiting the foregoing, PROMOTER will include (a) the broadcast rights language for tickets
specified in Exhibit 5 of this Agreement on all Event admission materials including without limitation tickets, suite passes and credentials, and (b) the broadcast rights language for ticket-related material specified in Exhibit 5 of this
Agreement on all renewal forms, ticket brochures and related material distributed to recipients of such admission materials. PROMOTER may obtain from NASCAR or a NASCAR Rights Affiliate, without charge to the PROMOTER, images, sounds or data that
are the subject of this Section 25, but only for the purpose of publicity, promotion or advertising of the Event, and only to the extent determined by NASCAR to be reasonably required for such purpose. 

26. Exploitation of Live Broadcast Rights and Ancillary Rights. NASCAR may, but shall not be obligated to exploit Live
Broadcast Rights and Ancillary Rights. If and to the extent NASCAR decides to exploit such rights, it may form or cause to be formed one or more NASCAR Rights Affiliates and it may assign some or all of the rights owned by or granted to it pursuant
to Section 25 to the extent determined by NASCAR to be reasonably necessary to permit such exploitation. NASCAR or such NASCAR Rights Affiliates may further assign, grant, sell, license, lease or otherwise transfer such rights, either alone or
in combination with other similar rights, combine Live Broadcast Rights and Ancillary Rights with other similar rights obtained from other promoters, Competitors, sponsors, broadcasters or other third parties, enter into agreements of any kind with
respect to any part or all of such rights, including without limitation agreements with or between NASCAR and other NASCAR Rights Affiliates, PROMOTER, or third parties, and generally take such action as they may determine to be appropriate. Subject
only to the obligation imposed on NASCAR by the immediately succeeding sentence in this Section 26, NASCAR may license, assign, or otherwise transfer rights in or to any NASCAR Intellectual Property for a commercially reasonable rate to one or
more NASCAR Rights Affiliates, but any income or revenue received or generated by NASCAR as a result of such a transaction shall be solely for the account of NASCAR or its assignee and shall not be subject to payment to the PROMOTER or any other
person or entity under the terms of this Agreement. NASCAR shall license, assign, or otherwise transfer rights in or to any NASCAR Intellectual Property, without fee, to one or more NASCAR Rights Affiliates to the extent determined by such
Affiliates to be reasonably necessary to permit them to exploit Live Broadcast Rights. 
 27. Payment of Live Broadcast
Income. On or before the Payment Date listed in Exhibit 1, NASCAR shall cause the NASCAR Rights Affiliate(s) engaged in the exploitation of Live Broadcast Rights to pay, on PROMOTER’s behalf, twenty-five percent (25%) of Event
Broadcast Income to Awards and Achievement Bureau, Inc., acting as an independent escrow agent, for distribution to the Competitors as part of the purse for the Event. On or before twenty (20) calendar days after the Event, NASCAR shall cause
the NASCAR Rights Affiliate(s) to pay sixty-five (65%) of Event Broadcast Income to PROMOTER. Notwithstanding the foregoing: 
  

	 	a)	PROMOTER has no right to Event Broadcast Income if the Competition is not commenced and officially completed (as determined in accordance with the Rule Book).

  

	 	b)	 If, for any reason, the Live Broadcast Income to be received by NASCAR or the NASCAR Rights Affiliate(s) is reduced in whole or in part, or if NASCAR
or the NASCAR Rights Affiliate(s) becomes obligated to repay any portion of Live Broadcast Income, the NASCAR Rights Affiliate’s 

  
 15 

	 	
obligation to make the payments otherwise required by this Section 27 shall be reduced by an amount calculated by multiplying the reduction or repayment by the percentage set forth in
Exhibit 1. If payment of the PROMOTER’s share of Live Broadcast Income had been made to PROMOTER prior to the determination of a reduction in, or an obligation to repay a portion of, Live Broadcast Income, then PROMOTER shall be obligated to
repay NASCAR or the NASCAR Rights Affiliate(s) a prorated share in accordance with the percentage set forth in Exhibit 1 within thirty (30) calendar days after notification by NASCAR. 

NASCAR or the NASCAR Rights Affiliate(s) shall retain the NASCAR Television Retention listed in Exhibit 1 (ten percent (10%) of Event Broadcast
Income) for its own account. 
 28. Payment of Net Ancillary Rights Income. NASCAR or the NASCAR Rights
Affiliate(s) engaged in the exploitation of Ancillary Rights shall distribute Net Ancillary Rights Income as follows: 
  

	 	a)	Timing. Within three (3) months after the end of the calendar year during which the Event is held, NASCAR or such NASCAR Rights Affiliate(s) shall
determine the total amount of Net Ancillary Rights Income, if any, received by it during that calendar year. Within thirty (30) calendar days after such determination, NASCAR or such NASCAR Rights Affiliate(s) shall distribute such Net
Ancillary Rights Income pursuant to the formula set forth in Section 28.b) below. Notwithstanding the foregoing, PROMOTER has no right to Event Net Ancillary Rights Income if there is an Event of Default giving rise to the termination of this
sanction or the withholding of payments in accordance with Section 31, or if the Competition is not commenced and officially completed (as determined in accordance with the Rule Book), unless the sole reason that the Event is not commenced and
officially completed is a strike, war, declaration of a state of national emergency, or an act of God or the public enemy or other circumstances beyond the control of PROMOTER). 

 

	 	b)	Allocation. NASCAR or such NASCAR Rights Affiliate(s) shall pay: (i) twenty-five percent (25%) of Net Ancillary Rights Income to
Awards & Achievement Bureau, Inc. for distribution as part of the Point Fund awards at the end of the next calendar year, for Winners’ Circle or similar programs, or for other programs designed for the benefit of Competitors, as NASCAR
may determine from time to time and (ii) sixty-five percent (65%) of Event Net Ancillary Rights Income to PROMOTER. NASCAR or the NASCAR Rights Affiliate(s) shall retain the remaining ten percent (10%) of Net Ancillary Rights Income
for its own account. 

 29. Maintenance of and Access to Contracts and Other Books and Records. Each
NASCAR Rights Affiliate will maintain for a period of six (6) years from the date of the Event (a) true and complete copies of any written Live Broadcast Rights Contract relating to the Event and (b) such books and records as are
commercially reasonable for the purpose of auditing its Live Broadcast Income and Net Ancillary Rights Income received during the calendar year in which the Event is held. Each NASCAR Rights Affiliate will permit PROMOTER or its authorized agent to
inspect and audit any or all such contracts, books and records, wherever they may be located or at any other mutually agreeable location, but only upon reasonable notice and at such reasonable times as determined by the NASCAR Rights Affiliate, and
only at the business premises of the NASCAR Rights Affiliate where they are located, and subject at all times to Section 36 (relating to confidentiality and proprietary information). 

30. Limitation of Liability. NASCAR and the NASCAR Rights Affiliate(s) shall be solely responsible for, and shall have
complete discretion with respect to, the manner, extent and timing of any license, assignment, transfer or other use or exploitation of Live Broadcast Rights and Ancillary Rights, either through independent third parties, NASCAR Rights Affiliate(s)
or otherwise. NASCAR and the NASCAR Rights Affiliate(s) shall have no liability to PROMOTER with respect to such activities or the amount of Live Broadcast Income or Net Ancillary Rights Income arising out of or generated by such activities.
PROMOTER hereby promises and covenants not to assert any claim or file any suit or other legal action against NASCAR or any NASCAR Rights Affiliate on the ground that it or they have failed in any way, material or otherwise, to exploit, maximize or
earn profits of any kind or amount with respect to Live Broadcast Rights or Ancillary Rights. 

  
 16 

 GENERAL PROVISIONS 

31. Events of Default. For purposes of this Agreement, “Event of Default” means: 

 

	 	a)	Failure of PROMOTER to abide by the material provisions of this Agreement or the Rule Book; 

 

	 	b)	Failure of PROMOTER to take such actions, or refrain from taking actions, as reasonably may be requested by NASCAR in accordance with this Agreement;

  

	 	c)	Any act, omission or condition expressly described in this Agreement as giving NASCAR the right to terminate this Agreement or the sanction granted by this Agreement;

  

	 	d)	A change, material or otherwise, in the ownership, control or management of PROMOTER; 

 

	 	e)	A statement by PROMOTER that it is not or will not be able to pay its debts as they become due; an application or agreement by PROMOTER for the appointment of a
receiver or trustee in liquidation; a general assignment by PROMOTER for the benefit of creditors; the filing by PROMOTER of a voluntary petition in bankruptcy or a petition seeking reorganization or an arrangement of creditors under any bankruptcy
law; the filing by another person or entity of a petition under any bankruptcy law that makes PROMOTER a party; or the adjudication of PROMOTER as bankrupt under any bankruptcy law; 

 

	 	f)	Activity by PROMOTER of any kind, including without limitation litigation, that NASCAR determines to be detrimental to the sport or to NASCAR. 

 

	 	g)	Failure to provide financial guarantees, if required, as follows: if NASCAR becomes aware, through any means, of a possible change in the PROMOTER’s affairs which
might reasonably be determined to have a material adverse effect on the organization or conduct of the Event including, but not limited to, the withdrawal or reduction of major Event sponsorship(s), delinquencies or defaults by PROMOTER in payments
to other entities, litigation relative to the Event, PROMOTER or the Facility, failure of PROMOTER to perform under similar agreements with third parties for other events, and so on, then NASCAR may require PROMOTER to take whatever action that
NASCAR determines is necessary to insure the successful organization and conduct of the Event. Such action may include, but is not limited to, posting a bond, providing an irrevocable letter of credit, and/or providing a financial instrument, or
mechanism sufficient to guarantee, in NASCAR’s reasonable discretion, that all financial obligations of the PROMOTER relative to the Event can be met. 

 If there is an Event of Default, at its option NASCAR may demand that PROMOTER cure any failure or breach giving rise to the Event of Default or terminate this Agreement or the sanction granted by this
Agreement, and/or NASCAR may withhold from any payments due to PROMOTER under this Agreement an amount reasonably calculated to hold harmless NASCAR, NASCAR Rights Affiliate(s), sponsors, Competitors, Officials, persons or entities contracting with
NASCAR or NASCAR Rights Affiliate(s) with respect to Live Broadcast Rights or Ancillary Rights, and other persons or entities involved in the Event from any loss resulting from the Event of Default. NASCAR’s determination as to such amount is
binding on PROMOTER. NASCAR shall notify PROMOTER in writing of its decision to terminate and/or to withhold payments. If the sanction is terminated, such termination shall be effective as of the date the notice was sent by NASCAR or at such later
date as may be specified by NASCAR in the notice. PROMOTER shall promptly comply with all monetary obligations that have accrued as of the effective date of termination, and all other terms and conditions of this Agreement shall survive such
termination. Nothing in this Section 31 shall be construed to limit NASCAR’s other rights or remedies, or to preclude NASCAR from enforcing such rights or pursuing such remedies to the fullest extent possible. 

32. Assignment. A party may not assign its rights or delegate its obligations under this Agreement without the prior
written consent of the other party, except as otherwise permitted by this Agreement. 
 33. Determinations by NASCAR.
Except where expressly stated otherwise, whenever this Agreement provides or permits NASCAR to make a determination regarding a matter, NASCAR may make such determination in its sole judgment and discretion, and such determination may not be
challenged, amended, voided or nullified on the ground that it was incorrect or unreasonable. 
 34. Limited
Application. This Agreement and the sanction granted herein relate solely to the Event and the date set forth in Exhibit 1 to this Agreement. Nothing in this Agreement, or in the course of dealing between the parties,

  
 17 

 
will be construed to require PROMOTER or NASCAR to enter into a sanction agreement or to issue a sanction for the Event or any other event in the future. 

35. Disclaimer of Warranty. NASCAR (on behalf of itself and each and every NASCAR Rights Affiliate, whether existing now or
created hereafter) does not warrant, either expressly or by implication, nor is it responsible for, the financial or other success of the Event, the number or identity of sponsors, the number or identity of vehicles or Competitors participating in
the Event, the adequacy of the services it provides, the suitability of the Facility for the Event. the safety of the public, the Competitors or any other person entering the Facility in connection with the Event, the financial return from the
exploitation of Live Broadcast Rights or Ancillary Rights, or any other matter not expressly agreed to or warranted by NASCAR herein. 
 36. Proprietary Information; Confidentiality. PROMOTER acknowledges that (i) this Agreement, (ii) any technical, business or financial information or documents used, provided or
disclosed by NASCAR or any NASCAR Rights Affiliate in connection therewith or pursuant thereto, (iii) customer lists of any kind or nature used, provided or disclosed by NASCAR or any NASCAR Rights Affiliate, (iv) the manner in which
NASCAR or any NASCAR Rights Affiliate engages in the exploitation of Live Broadcast Rights or Ancillary Rights, (v) the manner in which NASCAR conducts and controls the Competition, (vi) the manner in which NASCAR promotes the Event, the
series of which the Event is a part, and the sport of stock car racing in general, and (vii) the manner in which NASCAR forms, promotes and maintains relationships with sponsors, Competitors, Officials, other promoters, fans and other third
parties involved in the Event (collectively “NASCAR Proprietary Information”), constitutes information that is proprietary to NASCAR and/or the NASCAR Rights Affiliate(s) and may not be used by PROMOTER except in connection with the
performance of PROMOTER’s duties under this Agreement. Except for that purpose, PROMOTER shall at all times and forever maintain NASCAR Proprietary Information in a confidential manner and shall not disclose it or use it on behalf of itself or
any third party unless it is in the public domain as a result of an act or omission caused by a person or entity other than PROMOTER. PROMOTER acknowledges that any unauthorized use or disclosure of NASCAR Proprietary Information that is in
violation of this Section 36, or other violation or threatened violation of this Section 36, could cause irreparable damage to NASCAR and/or the NASCAR Rights Affiliate(s) and, therefore, that NASCAR and or the NASCAR Rights Affiliate(s)
shall be entitled to an injunction prohibiting PROMOTER or any related party from engaging in such violation and to attorney’s fees and costs for having to bring any action to enforce this Section 36. 

37. No Joint Venture. Nothing in this Agreement will be construed to place NASCAR or NASCAR Rights Affiliate(s) in the
relationship of a partner or joint venturer with PROMOTER. Neither party may, or has power to, obligate or bind the other party in any manner other than as provided expressly in this Agreement. 

38. Series Name. NASCAR may modify, alter, change or replace the name or sponsor of the series of which the Event is a
part, at any time. In that event, PROMOTER shall use the new name and related logos or marks in all communications, advertising, publicity and promotion relating to the Event. 
 39. Indemnification; Repayment. PROMOTER shall indemnify and hold NASCAR and all NASCAR Rights Affiliates and NASCAR additional insureds (as specified in Section 18.a.) harmless from
any and all claims, allegations, demands, obligations, suits, actions, causes of action, proceedings, rights, damages, and costs of any nature arising out of the Event or this Agreement, unless such claim, allegation, demand, obligation, suit,
action, cause of action, proceeding, right, damage or cost arises solely out of the negligent act or negligent omission of NASCAR or any NASCAR Rights Affiliate or any NASCAR additional insureds. With respect to any matter falling within the scope
of PROMOTER’s obligation to defend and hold NASCAR and the NASCAR Rights Affiliates harmless, NASCAR and the NASCAR Rights Affiliate and NASCAR additional insureds shall be entitled to select counsel to represent it in such matter at
PROMOTER’s expense, and that counsel’s duties and obligations in all respects shall be solely to NASCAR and to the NASCAR Rights Affiliate(s) and to the NASCAR additional insureds. 

  
 18 

 40. Recovery of Attorney’s Fees. In the event of litigation arising out
of the enforcement of this Agreement or terms and conditions, attorney’s fees and costs shall be awarded to the prevailing party. 
 41. Representation Regarding Ownership of Facility. PROMOTER represents and warrants that, during the calendar year in which the Event is conducted and at all other times material to this
Agreement, with respect to the Facility and the material assets thereof, either it holds, and will hold at all times relevant to the Event: (i) good and marketable title; or (ii) a valid and binding leasehold or other contractual interest
for the management and operation of the Facility. PROMOTER represents and warrants that it is the direct owner or lessee of the material assets (other than real estate) of the Facility and no material assets (other than real estate) of the Facility
are owned or leased through a subsidiary, affiliate, parent corporation, sister corporation or, in the case of an individual, a family member of the PROMOTER. In the event PROMOTER is not able to make such representations and warranties as set forth
above, then that entity which can make such representations and warranties must execute the Guaranty Agreement attached hereto as Exhibit 6. 
 42. Notice. Unless otherwise permitted herein, notice required by the Agreement shall be given by facsimile/telecopy, and by overnight mail or other express service, postage prepaid,
addressed as follows: 
  

			
	TO NASCAR:	  	 National Association for Stock Car Auto Racing, Inc.
 International Motorsports Center
 One Daytona Boulevard

Daytona Beach, FL 32114
  
 Attention: Steve O’Donnell
  
 With a copy to:
  
 W. Garrett
Crotty, Esq.
 (at the same location)
  

Requests for NASCAR approval and/or consent, notification of planned improvements or alterations to the Facility, and information the PROMOTER must
provide to NASCAR per this Agreement to:
  
 Steve O’Donnell

(at the same location)

		
	TO PROMOTER:	  	The Address set forth in Exhibit 1 to this Agreement

 43. Notification Change. Either party may change the person(s) or locations to which notice
must be given pursuant to Section 42, by providing written notice to the other party in accordance herewith. 

44. Entire Agreement; Amendments. This Agreement, including Exhibits 1 through 6 hereto, constitutes the entire agreement
between NASCAR and PROMOTER. All previous communications and negotiations between NASCAR and PROMOTER, whether oral or written, not contained herein are hereby withdrawn and void. This Agreement may not be amended except in writing and signed by
both parties. 
 45. Agreement Binding on Heirs, Successors and Assigns. The rights and obligations
contained in this Agreement shall bind, and inure to the benefit of, the parties and their respective successors and permitted assigns. 

  
 19 

 46. Governing Law. This Agreement shall be governed by and construed according
to the laws of Florida applicable to agreements made to be performed therein (without giving effect to the conflict of law provisions of such jurisdiction). 
 47. Jurisdiction. With respect to any litigation between the parties arising out of, or relating in any way to, the business relationship between the parties, including but not limited to
the Event, the Agreement, or any proposed business relationship between the parties, venue shall lie solely in a state court sitting in Volusia County, Florida, or the United States District Court for the Middle District of Florida, Orlando Division
if in a case of exclusive federal jurisdiction, and all parties hereto consent to service of process by, and the jurisdiction of, those courts. 

IN WITNESS WHERE OF , this Agreement has been read and signed by the duly authorized representative of each party, on the dates set forth below.

  

					
		 		 	Dover International Speedway, Inc.
			
		 		 	PROMOTER
		 		 	BY:
			
	Date 6/28/12	 		 	/s/ DENIS McGLYNN
		 		 	Signature
			
		 		 	Print Name: Denis McGlynn
			
		 		 	Title: President
			
		 		 	NATIONAL ASSOCIATION FOR STOCK
		 		 	CAR AUTO RACING, INC.
		 		 	BY:
			
	Date 11/26/12	 		 	/s/ STEVE O’DONNELL
		 		 	Steve O’Donnell
		 		 	Vice President of Racing Operations

  
 20 

 ADDENDUM TO 
 SANCTION AGREEMENT 
 (Radio Rights) 

This Addendum Agreement (“Addendum”) to the Sanction Agreement (“Agreement”) between National Association for Stock
Car Auto Racing, Inc. (“NASCAR”), a corporation with its principal offices located in Daytona Beach, Florida, and the PROMOTER (specified on Exhibit 1 to the Agreement), is entered into and is effective as of the Effective Date (specified
on Exhibit 1 to the Agreement). 
 RECITALS 

WHEREAS, NASCAR and PROMOTER are entering into the Agreement on the terms and as of the Effective Date stated therein; and 

WHEREAS, NASCAR and PROMOTER wish to amend certain provisions in the Agreement by this Addendum; 

NOW, THEREFORE, NASCAR and PROMOTER, in consideration of the mutual promises set forth below, and intending to be legally bound, agree to
the following Addendum to the Agreement: 
 ADDENDUM AGREEMENT 

A. Amendment to Section 25. Section 25 of the Agreement is hereby amended by adding at the end of such section the
following: 
 “NASCAR” hereby licenses to PROMOTER exclusively the use of that portion of Ancillary Rights for the
purpose of sublicensing such rights for the broadcast and rebroadcast, on either a contemporaneous or delayed basis, by conventional AM, FM or short-wave radio (but not by any other means of transmission), of the performance of the Event
(“Radio Rights”). Nothing in the immediately preceding sentence shall be construed as an assignment or other license, grant, assignment or other transfer of (i) Radio Rights for any event or other activity in any year other than calendar
year 2013 or for any purpose or use other than set forth above, (ii) Live Broadcast Rights, or (iii) Ancillary Rights other than Radio Rights.” 
 B. Conflicts. If any other provision in the Agreement conflicts with any provision in this Addendum, the provision in the Agreement shall be construed or, if necessary, amended to give effect to
the provision in this Addendum with which it conflicts. 
 IN WITNESS WHEREOF, this Addendum has been read and signed by the
duly authorized representative of each Party, on the dates set forth below. 
  

							
		 		 	Dover International Speedway, Inc.
		 		 	PROMOTER
		 		 	BY:
				
	Date: 6/28/12	 		 	Signature:	 	 /s/ DENIS MCGLYNN

		 		 	Print Name:	 	Denis McGlynn
		 		 	Title:	 	President
			
		 		 	 NATIONAL ASSOCIATION FOR STOCK CAR
 AUTO RACING, INC.

		 		 	BY:
			
	Date: 11/26/12	 		 	 /s/ STEVE O’DONNELL

		 		 	Steve O’Donnell
		 		 	Vice President of Racing Operations

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