Document:

Form of Brokerage Agreement

 Exhibit 10.1 

Listed Derivatives 

Account Documents 

for Futures and 

Options on Futures 
  

* Please see Booklet 2 of 2, Risk Disclosure Statements, delivered herewith 

 

			
		 	  
 Global Clearing Across
Markets

  

    Listed Derivatives Group 

Table of Contents 
  

			
	 Account Application
	  	1
		
	 Authorization to Transfer Funds
	  	3
		
	 Acknowledgment of Subordination Agreement
	  	3
		
	 Discretionary Trading Authorization
	  	4
		
	 Representations of Advisor
	  	4
		
	 Futures Customer Agreement
	  	5
		
	 Risk Disclosure Acknowledgements
	  	13
		
	 Customer Agreement Acknowledgement
	  	13
		
	 General Resolutions (Corporate Entity)
	  	15
		
	 General Certifications Limited Liability Company
	  	17
		
	 General Certifications Limited Partnership
	  	19
		
	 Employee Benefit Plan Authorization
	  	21

 Instructions

 Booklet 1 (Futures Account Documents) contains documents which you are required to complete, sign and return to CREDIT
SUISSE SECURITIES (USA) LLC (“CSSU”) before an account can be opened in your name. 
 Booklet 2 (Risk
Disclosure Statements) delivered herewith contains a number of important disclosures which you must read and understand prior to opening an account with CSSU. Retain Booklet 2 for your records. 

 
  

			
	

	 	  
  

Global Clearing Across Markets

  

Listed Derivatives Group 

Futures Account Application 

Please complete all of the following information 

(attach additional pages if necessary) 

 

 I. Mailing Address for All Notices and Statements 

Name of Account: Jefferies S&P 500 VIX Short-Term Futures 

			
	 ETF
	  	 

  

 
  

 
 Mailing Address: 

 
  
  

 
  

 
  

 
  

			
	 Telephone: 
	 	(            )

 

			
	 Facsimile: 
	 	(            )

 

			
	 Electronic Mail Address: 
	  	 

  

			
	 Principal Business of Customer: 
	  	 

  

			
	 Organized under the laws of: 
	  	 

  

			
	 Soc. Sec./Tax I.D. No.: 
	  	 

 Mailing Address for Duplicate Statements:

  
  

 
  
  

 
 II. Bank Reference/Financial Statement 

  

			
	 Bank Name: 
	  	 

  

			
	 Bank Address: 
	  	 

  

			
	 Account Number: 
	  	 

 If an Individual Account, please provide:

 Annual Income $             Net Worth
                     
 III.
Customer Designation (check one) 
  

					
	  ̈ Mutual Fund
	  	 ̈ Corporate	  	 ̈ Partnership
			
	  ̈ Omnibus
	  	 ̈ Commodity	  	 ̈ Bank/Financial
	  ̈ Hedge Fund
	  	     Pool	  	     Institution
			
	  ̈ Trust
	  	 ̈ ERISA
     Plan	  	 ̈ Insurance
     Company
			
	  ̈ Individual
	  	 ̈ LLC	  	
			
		  	 ̈ Other	  	

 

 IV. Individual Account 

If Customer is an Individual, please provide Age      and Number of Years’ Experience Investing in: 

Futures                      Options on
Futures                      

Securities              

Is Customer employed by an exchange, NASD or NFA member firm  ̈ Yes
 ̈ No 
 Is Customer a director, 10% shareholder or policy making officer of any publicly
traded company?  ̈ Yes  ̈ No, If Yes, please specify the name of the company 

 
  

V. Account Designation (check one) 
  

	 ̈	Speculative. All Orders placed by Customer for the Account will represent speculative transactions. 

 

	 ̈	Hedge. Except with prior notice to the contrary by Customer to CSSU, all orders placed by Customer for the Account will represent bona fide hedging transactions
as defined in Commodity Futures Trading Commission (“CFTC”) Regulation §1.3(z). Should Customer place orders for the purchase or sale of futures or options on futures which are not hedge transactions, then Customer must notify CSSU in
writing, and Customer must keep such contracts margined in accordance with the requirements of the market on which the orders are placed or as required by CSSU. If orders placed for the Account represent hedging transactions, please complete
Section 8(k)(ii) of the Futures Customer Agreement. 

 VI. Discretionary Trading Information 

Are you giving discretionary authority over your account to a trading advisor?  ̈ Yes
 ̈ No 
  

			
	 Name of Advisor: 
	  	 

  

 
 If yes, you must complete the Discretionary
Trading Authorization and Discretionary Account Waiver, and the Advisor must sign the Representations of Advisor, found on page 4 of this booklet. 

  

			
	

	  	  
  

Global Clearing Across Markets
                                         
1

 Futures Account Application 

Please complete all of the following information 

(attach continuation pages if necessary) 

VIII. Other Reporting Information 
 List
any other futures accounts at CSSU traded by the individuals listed in Section VII above: 
  

					
	  
	  		 	  

	  
	  		 	  

List any other persons or entities having a financial interest of 10% or more in this Account: 

 

					
	  
	  		 	  

	  
	  		 	  

List any other futures accounts at CSSU in which Customer or its controlling persons or beneficial owners holds a financial interest of 10% or more:

  

					
	  
	  		 	  

	  
	  		 	  

IX. Monthly Statements and Confirmation Statements 

Customer understands that it may elect to receive copies of its daily confirmations of trades (which include daily purchase-and-sales)
(‘Confirmations”) by facsimile transmission, or electronic mail, rather than via hard copy mailing. Unless Customer explicitly requests that it receive Confirmations via hard copy mailing by checking the box below, Customer hereby requests
that it receive its Confirmations by fax transmission at the fax number listed above or by electronic mail at the electronic mail address listed above and that CSSU no longer mail such statements in hard copy form to Customer. Customer further
understands that this request is revocable in writing. 
  ̈ Customer requests that CSSU furnish
Customer with its Confirmations in hard copy via mail 
 Customer acknowledges that CSSU will continue to furnish Customer with its monthly
account statements in hard copy via mail. 
 X. Customer Representations 

Customer has reviewed the registration requirements of the Commodity Exchange Act, as amended (the “Act”), and the membership requirements of
the National Futures Association (“NFA”) relating to commodity pool operators and commodity trading advisors, and Customer: (Please check one) 
  

	 	 ̈	does not engage in activities requiring registration under the Act; 

  

	 	 ̈	is appropriately registered with CFTC and is a member of the NFA; or 

  

	 	 ̈	is exempt from CFTC registration requirements and NFA membership requirements and has filed all notices of eligibility and other documents necessary in connection
therewith. 

 CUSTOMER AGREES TO NOTIFY CSSU IMMEDIATELY (AND NO LATER THAN WITHIN ONE BUSINESS DAY) IN THE EVENT ANY MATERIAL
INFORMATION CONTAINED IN THIS APPLICATION CHANGES. 
 Jefferies S&P 500 VIX Short-Term Futures ETF 

 
 (Name of Customer – Please Print)

  
  

(Signature)                        
                                         
       (Date) 
  
  

(Name & Title – Please Print) 

 AUTHORIZATION TO TRANSFER FUNDS 

The undersigned Customer hereby expressly agrees that CREDIT SUISSE SECURITIES (USA) LLC (“CSSU”) may, until it receives a written notice of
revocation with respect thereto, in compliance with all applicable laws, in its commercially reasonable and good faith discretion and without prior notice to Customer, transfer any funds, securities, commodities, Contracts or other property from any
account maintained by Customer to any other account of Customer maintained with CSSU or any of its affiliates. Such transfers may include transfers to or from any securities account of Customer from or to any futures account of Customer (unless
prohibited by Applicable Law). CSSU will promptly confirm in writing each transfer of funds, securities, commodities, Contracts or other property to or from the Customer’s futures account. 

Jefferies S&P 500 VIX Short-Term Futures ETF 

 
 (Name of Customer – Please Print)

  
  

(Signature)                        
                                         
       (Date) 
  
  

(Name & Title – Please Print) 

 **PLEASE COMPLETE ONLY IF YOU HAVE ENGAGED** 

A THIRD-PARTY ADVISOR TO DIRECT YOUR ACCOUNT 

DISCRETIONARY TRADING AUTHORIZATION 

Gentlemen: 
 The undersigned Customer hereby
authorizes
                                         
                                (the “Advisor”) as its agent and attorney-in-fact
to purchase, sell (including short sales) and trade in, futures, options on futures (including security futures products), commodities, commodity option contracts and foreign exchange transactions, on margin or otherwise, in accordance with your
terms and conditions for the Customer’s account and risk and in the Customer’s name or number on your books. Without limiting the foregoing, you are hereby authorized, upon the instruction of the Advisor, to transfer money, securities or
other property to or from the Customer’s accounts and to make or receive delivery of the commodities or securities underlying the futures contracts traded by the Advisor on behalf of the undersigned. The Customer hereby confirms it has received
a copy of Advisor’s disclosure document. The Customer hereby agrees to indemnify and hold you harmless from and to pay you promptly on demand any and all losses, damages, costs, injuries and expenses arising out of or relation to the
Advisor’s trading activities, or debit balance due thereon., except to the extent caused by or arising from the negligence, misconduct or bad faith of Credit Suisse Securities (USA) LLC or its employees, affiliates or agents. 

This authorization and indemnity is in addition to (and in no way limits or restricts) any rights which you may have under the CREDIT SUISSE SECURITIES
(USA) LLC Futures Customer Agreement executed by the Customer and any other agreement or agreements between you and the Customer. 
 The
Customer may terminate this authorization at any time as of the actual receipt by you of written notice of termination. Termination of this authorization shall not affect any liability in any way resulting from transactions initiated prior to such
termination. This authorization and indemnity shall inure to your benefit and that of your successors and assigns. 
 Jefferies S&P 500
VIX Short-Term Futures ETF 
 (Name of Customer – Please Print) 

 
  

(Signature)                        
                                         
       (Date) 
  
  

(Name & Title – Please Print) 

REPRESENTATIONS OF ADVISOR 

The undersigned Advisor acknowledges that it has been designated as Customer’s agent and attorney in fact pursuant to the Discretionary Trading
Authorization contained above. In this regard, the Advisor hereby represents and warrants to CREDIT SUISSE SECURITIES (USA) LLC (“CSSU”) that: (a) the Advisor has reviewed the registration requirements of the Commodity Exchange Act,
as amended, and the National Futures Association relating to commodity pool operators and commodity trading advisors and is either appropriately registered with the CFTC and a member of the NFA or exempt from CFTC registration and NFA membership
requirements and has filed all notices of eligibility and other documents necessary in connection therewith. 
  

 
 (Name of Advisor – Please Print) 

 
  

(Signature)                        
                                         
       (Date) 
  
  

(Name & Title – Please Print) 

 Futures Customer Agreement 

This Futures Customer Agreement (“Agreement”) between CREDIT SUISSE SECURITIES (USA) LLC (“CSSU”) and the customer
named below (“Customer”) shall govern the purchase and sale by CSSU of futures contracts and options thereon, including security futures products, commodities and commodity options and foreign exchange transactions (collectively,
“Contracts”) for the account and risk of Customer through one or more accounts carried by CSSU on behalf and in the name of Customer (collectively, the “Account”). 

 

	1.	Applicable Law. 

 The
Account and all transactions and agreements in respect of the Account shall be subject to all applicable governmental, exchange, clearing house, and self-regulatory agency rules, regulations, and interpretations and custom and usage of the trade.
All such rules, regulations, interpretations, custom and usage are hereinafter collectively referred to as “Applicable Law.” Provisions contained in and remedies provided by this Agreement which are additional to or more expansive than any
provisions contained in or remedies provided by any other agreement with Customer (including, without limitation, provisions or remedies that cover the same subject matter) shall not be deemed to be in conflict with each other, and all such
provisions and remedies shall be applicable and available. Neither CSSU nor any of its officers, directors, employees or agents shall be liable as a result of any act taken or failed to be taken by CSSU or its agents, reasonably and in good faith,
to comply with Applicable Law. 
  

	2.	Customer’s Representations and Warranties. 

(a) Customer represents, warrants and covenants that (i) Customer has full right, power and authority to enter into this Agreement
and transactions in Contracts, and the person executing this Agreement on behalf of Customer is authorized to do so; (ii this Agreement and such Contracts are binding on Customer and enforceable against Customer in accordance with their terms;
(iii) Customer may lawfully establish and open the Account for the purpose of effecting purchases and sales of Contracts through CSSU; (iv) Customer has determined that trading in futures contracts is appropriate for Customer, and
transactions entered into pursuant to this Agreement will not violate Applicable Law (or any other law or regulation) to which Customer is subject or any agreement to which Customer is subject or a party; (v) all information provided by
Customer in or in connection with the Account Application preceding this Agreement (which Application and information is hereby incorporated into this Agreement) is true and correct and Customer shall promptly (and in no event later than within one
business day) notify CSSU of any material change in such information; (vi) Customer understands that, except as otherwise specifically agreed, CSSU acts as agent, and not as principal, in the execution of futures contracts; (vii) except as
disclosed in writing to CSSU, Customer is acting solely as principal and not as agent for any other party and no other person has any interest in Customer’s Account; (viii) Customer is in compliance with all laws and regulations applicable
to the transactions contemplated by this Agreement including, to the extent such laws and regulations are applicable to it, all laws and regulations applicable to pension plans, investment companies, commodity pools or other forms of collective
investment vehicles; (ix) at all times during the existence of an Account, such Account shall not contain (A) plan assets subject to the provisions of Title I, Subtitle B, Part 4 of the U.S. Employee Retirement Income Security Act of 1974,
as amended (“ERISA”) or Section 4975 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), (B) assets of a governmental plan or other plan subject to restrictions similar or analogous to
those contained in the foregoing provisions of ERISA or the Code or (C) assets subject to restrictions that would otherwise be violated by the transactions and investments conducted by Customer in such Account; and (b) unless Customer
otherwise informs CSSU in writing, Customer is not an affiliate (as defined in Rule 144(a)(1) of the Securities Act of 1933) of the issuer of any security held in the Account(s) or the securities that are the subject of any transaction.(c) Customer
shall provide 45 days prior written notice to CSSU if any of the representations and warranties contained in Section 2 (a)(ix) hereof becomes incorrect at any time. Customer agrees that it shall cease executing contracts of any kind in the
Account(s) in the event Customer’s assets include assets described in Paragraph 2(a)(ix) hereof; and (x) Customer is an “eligible contract participant” as such term is defined in Section 1(a)(12) of the Commodities Exchange
Act, as amended. 

	3.	Payment Obligations of Customer. 

Customer shall promptly pay CSSU upon demand (a) all brokerage charges, give-up fees, commissions and service fees as CSSU may from
time to time charge; (b) all contract market, clearing house, NFA or clearing member fees or charges or any other regulatory fees and service charges incurred with respect to each transaction; (c) any tax imposed on such transactions by
any competent taxing authority; (d) the amount of any trading losses in the Account; (e) any debit balance or deficiency in the Account; (f) any advances made by CSSU to or for the benefit of Customer; (g) any obligation of
Customer to CSSU incurred in respect of a trade executed in connection herewith; (h) interest on any debit balances or deficiencies in the Account, at the overnight rate customarily charged by CSSU, together with costs and reasonable
attorneys’ fees incurred in collecting any such debit balance or deficiency; and (i) any other amounts owed by Customer to CSSU with respect to the Account or any transactions therein. 

 

	4.	Events of Default; CSSU’s Remedies. 

  

	 	(a)	Events of Default. As used herein, each of the following shall be deemed an “Event of Default”; (i) the commencement of a case under any
Federal or state bankruptcy, insolvency or reorganization law or other law for the protection of creditors, or the filing of a petition for the appointment of a receiver, liquidator, trustee, conservator, custodian, or similar officer by or against
Customer, in each of the aforementioned proceedings that is not vacated or dismissed within 30 days, an assignment made by Customer for the benefit of creditors, an admission in writing by Customer that it is insolvent or is unable to pay its debts
when they mature, or the suspension by Customer of its usual business or any material portion thereof in relation to the foregoing; (ii) the issuance of any warrant or order of attachment against the Account or the levy of a judgment
against the Account; (iii) any representation or warranty made by Customer was incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated; (iv) if Customer states that it will
not perform any obligation to CSSU under this Agreement or in connection with any Contracts executed by CSSU on Customer’s behalf; (v) if CSSU believes, in its commercially reasonable judgment exercised in good faith, that it may be
unable to apply without delay property (excluding cash and treasury bills) that it is holding or expects to receive from Customer against any obligations to CSSU under this Agreement or in connection with any Contracts executed by CSSU on
Customer’s behalf; (vi) if Customer fails upon demand by CSSU to satisfy any debit balance in its account that remains outstanding for one business day or more; (vii) if Customer is an individual, Customer dies or is
judicially declared incompetent; (viii) if Customer is an employee benefit plan, the termination of Customer or the filing by Customer of a notice of intent to terminate with a governmental agency or body, or the receipt of a notice of
intent to terminate Customer from a governmental agency or body, or the inability of Customer to pay benefits under the relevant employee benefit plan when due; (ix) the failure by Customer to deposit or maintain Margin as required by
CSSU with or without a prior demand for such Margin by CSSU, to pay required premiums, or to make payments upon demand as required by Section 3 hereof; (x) the failure by Customer to perform, in any material respect, its obligations
hereunder (it being understood that any failure to comply with applicable regulatory or self-regulatory organization requirements will be deemed material 

  

	 	(b)	 Remedies. Upon the occurrence of an Event of Default, or in the event Customer fails to honor a Margin request within one business day, or as
commercially reasonable shorter period of time as CSSU shall advise Client, of the request being made, or in the event CSSU, in its commercially reasonable discretion, considers it necessary for its protection, upon notice to Customer, CSSU shall
have the right, in addition to any other remedy available to CSSU at law or in equity, and in addition to any other action CSSU may deem appropriate under the circumstances, to cancel any orders or liquidate at any time deemed appropriate by CSSU
any or all open 

	 	 
Contracts held in or for the Account, sell any or all of the securities or other property of Customer held by CSSU whether or not the ownership interest shall be solely Customer’s or held
jointly with others and to apply the proceeds thereof to any amounts owed by Customer to CSSU, borrow or buy any options, securities, Contracts or other property for the Account and immediately cancel any unfilled order for the purchase or sale of
Contracts for the Account, or take such other or further actions as CSSU, in its reasonable discretion, deems necessary or appropriate for its protection, all without demand for Margin and without notice or advertisement. Any such action may be made
at the discretion of CSSU. All purchases or sales pursuant to this Section 4 may be effected in public or private transactions in whatever manner and with whichever party CSSU deems appropriate and at such price(s) as CSSU may deem
satisfactory. In the event CSSU’s position would not be jeopardized thereby, CSSU will make reasonable efforts under the circumstances to notify Customer prior to taking any such action, except that Customer agrees that CSSU shall have the
right to take any and all action pursuant to this Section 4 without any notice of default, demand for Margin, notice to Customer of sale or purchase, or other notice or advertisement. A prior demand or margin call of any kind from CSSU or prior
notice from CSSU or the failure to previously enforce any provision of this Agreement shall not be considered a waiver of CSSU’s right to take any action as described herein without notice or demand. Nothwithstanding the foregoing, CSSU, upon
Customer’s request shall provide a confirmation of all actions tacken pursuant to this section 4(b) unless otherwise prohibited from doing so. 

  

	5.	Indemnification 

 Customer
hereby releases and shall indemnify and hold harmless CSSU, their officers, directors, employees, agents and affiliated persons for any loss, claim, damage or expense (including reasonable attorneys’ fees and expenses, reasonable
accountants’ fees and expenses, fines and penalties) incurred by CSSU and such persons arising out of or in connection with this Agreement or any Contracts contemplated hereunder or pursuant to authorized instructions received by CSSU from
Customer or its agent, and to fully reimburse CSSU and such persons for any reasonable legal or other fees and expenses, including the cost of any investigation and preparation, incurred by them in connection with any claim, action, proceeding or
activities of the CS Entities and such persons in connection with this Agreement or Contracts contemplated hereunder, except to the extent caused by or arising from CSSU’s or such person’s negligence, misconduct or bad faith. 

 

	6.	Limitation of Liability. 

CSSU shall have no responsibility or liability to Customer hereunder (i) in connection with the performance or non-performance
by any exchange or market, clearing house, clearing firm or other third party except if selected by CSSU without reasonable care (including floor brokers and banks) to CSSU of its obligations in respect of any Contract or other property of the
Customer, in particular CSSU shall not be liable to Customer if any such third party makes an error in filling orders or fails to fill an order for Customer; (ii) as a result of any prediction, recommendation or advice made or given by a
representative of CSSU whether or not made or given at the request of Customer; (iii) as a result of CSSU’s reliance on any instruction, notice or communication that it believes to be that of an individual authorized to act on
behalf of Customer; (iv) as a result of any delay in the performance or non-performance of any of CSSU’s obligations hereunder directly or indirectly caused by the occurrence of any contingency beyond the control of CSSU including,
but not limited to, the unscheduled closure of an exchange or market or delays in the transmission of orders due to breakdowns or failures of transmission or communication facilities, execution, and/or trading facilities, other systems, or any other
electronic trading systems, facilities or services), it being understood that CSSU shall be excused from performance of its obligations hereunder for such period of time as is reasonably necessary after such occurrence to remedy the effects
therefrom; (v) as a result of any action taken by CSSU or its floor brokers to comply with Applicable Law; (vi) as a result of any actions taken by CSSU in connection with the exercise of the available remedies pursuant to
Section 4; or (vii) for any acts or omissions of those neither employed nor supervised 

 
by CSSU or its affiliates, except if selected by CSSU without reasonable care. CSSU shall not be responsible for any loss, liability, damage or expense except to the extent that such loss,
liability, damage or expense arises from its negligence or misconduct. In no event will CSSU or Customer be liable to the other for consequential, incidental or special damages. 

 

	7.	General Agreements. 

  

	 	The	parties agree that: 

  

	 	(a)	CSSU’s Responsibility. CSSU is not acting as a fiduciary, foundation manager, commodity pool operator, commodity trading advisor or investment adviser in
respect of any Account opened by Customer. CSSU shall have no responsibility hereunder for compliance with any law or regulation governing the conduct of fiduciaries, foundation managers, commodity pool operators, commodity trading advisors or
investment advisers for Customer’s compliance with any law or regulations governing or affecting Customer’s trading hereunder. 

  

	 	(b)	Advice. All advice or market information communicated by CSSU with respect to any Account opened by Customer hereunder is incidental to the conduct of
CSSU’s business as a futures commission merchant and such advice or information does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any Contract and will not serve as the primary basis for any decision by
or on behalf of Customer. CSSU shall have no discretionary authority, power or control over any decisions made by or on behalf of Customer in respect of the Account, regardless of whether Customer relies on the advice of CSSU in making any such
decision. Customer acknowledges that CSSU and its managing directors, officers, employees and affiliates may take or hold positions in, or advise other customers concerning, contracts that are the subject of advice from CSSU to Customer. The
positions and advice of CSSU and its managing directors, officers, employees and affiliates may be inconsistent with or contrary to positions of, and the advice given by, CSSU to Customer. 

 

	 	(c)	Clearing Broker. CSSU is responsible solely for the execution, clearing and/or carrying of Contracts in each Account in accordance with the terms of this
Agreement. Customer and Customer’s advisor (“Advisor”), if any, are solely responsible for all investment and trading decisions for the Account. Notwithstanding the foregoing, CSSU shall not be required to execute any order or to
comply with any direction of Customer, if, in CSSU’s reasonable discretion, the state of Customer’s Account does not justify such execution or compliance. CSSU shall notify Customer immediately of its refusal to execute any such order or
comply with any such direction. All transactions for or on Customer’s behalf in any account maintained for Customer shall be deemed to be included in a single Account, whether or not such transactions appear on CSSU’s records in separate
accounts, either severally or jointly with others. 

  

	 	(d)	Customer Trades. CSSU, for and on behalf of Customer, is authorized in its commercially reasonable good faith discretion to select floor brokers and, on
exchanges where CSSU is not a clearing member, unaffiliated clearing brokers, which will act as brokers and agents in connection with transaction in Contracts for the Accounts. Absent a separate written agreement with Customer with respect to
“give-up” transactions, CSSU may, in its commercially reasonable good faith discretion, but shall not be obligated to, accept from other brokers Contracts executed by such brokers which are to be given up to CSSU for clearance or carrying
in any Account. 

  

	 	(e)	 Foreign Markets. If Customer has been approved by CSSU for the transmission of orders directly to affiliates of CSSU located outside the United
States, for execution and clearance on non-U.S. exchanges, Customer acknowledges and agrees that (i) it will transmit orders directly to such affiliates identified by CSSU only in accordance with any conditions or instructions furnished by CSSU
and solely for Customer’s own Accounts, (ii) any orders transmitted by Customer to an affiliate of CSSU will be executed and cleared through omnibus 

	 	 
accounts maintained by the appropriate affiliate in the name of CSSU and not for an account of Customer with the affiliate, and (iii) notwithstanding its transmission of orders to an
affiliate, Customer will continue to be a customer of CSSU and will not be a customer of the affiliate. 

  

	 	(f)	Reliance on Instructions. CSSU shall be entitled to rely on any instruction, notice or communication that it reasonably believes to have originated from Customer
or Customer’s duly authorized agent (including Customer’s Advisor, if any) and Customer shall be bound thereby. Customer hereby waives any defense that any such instruction, notice or communication was not in writing as may be required by
the Statute of Frauds or any other law, rule or regulation. 

  

	 	(g)	Recording. CSSU and Customer each agree that either party may record, on tape or otherwise, any telephone conversation between CSSU and Customer and its
officers, agents and employees. 

  

	 	(h)	Acceptance of Orders; Position Limits. 

  

	 	(i)	CSSU shall have the right, whenever in its commercially reasonable good faith discretion it deems such action necessary or desirable, to limit the size of open
positions (net or gross) of Customer with respect to the Account at any time and to refuse acceptance of orders to establish new positions, whether such refusal, reduction or limitation is required by, or based on position limits imposed under,
Applicable Law. CSSU shall immediately notify Customer of its rejection of any order. Unless specified by Customer, CSSU may in a good faith commercially reasonable manner designate the exchange or other markets on which it will attempt to execute
orders, and 

  

	 	(ii)	Customer shall comply with all position limit rules and shall file or cause to be filed all applications or reports required under Applicable Law with the CFTC or the
relevant exchange or market or clearing house, and shall promptly provide CSSU with a copy of such applications or reports and such other information as CSSU may reasonably request in connection therewith. 

 

	 	(i)	Original and Variation Margin; Premiums; Other Contract Obligations. Customer shall make, or cause to be made, all applicable original margin, variation margin,
intra-day margin, additional margin and premium payments (“Margin”), and perform all other obligations attendant to transactions or positions in Contracts, as may be required by Applicable Law or by CSSU in its commercially reasonable good
faith discretion. Customer acknowledges that CSSU has no obligation to establish uniform margin requirements. Requests for Margin deposits and/or premium payments may, at CSSU’s election, be communicated to Customer orally, telephonically, or
in writing. Customer Margin deposits and/or premium payments shall be made by wire transfer to CSSU’s customer segregated account and shall be in U.S. dollars unless CSSU specifically agrees otherwise. 

 

	 	(j)	Security Interest and Rights Respecting Collateral. Except to the extent proscribed by Applicable Law not subject to waiver, all Contracts, cash, securities,
and/or any other property of Customer (either individually or jointly held with others) whatsoever (collectively, with all proceeds thereof, the “Collateral”) at any time held by CSSU or its affiliates pursuant to this Agreement, or
carried by others for the Account, hereby are pledged to CSSU and shall be subject to a general lien and security interest in CSSU’s favor to secure any indebtedness or other amounts, obligations and/or liabilities at any time owing from
Customer to CSSU (collectively, the “Customer’s Liabilities”). Customer hereby grants CSSU the right, to the extent exercised in good faith, to borrow, pledge, repledge, hypothecate, rehypothecate, loan or invest any of the
Collateral, including utilizing the Collateral to purchase United States Government Treasury obligations pursuant to repurchase agreements or reverse repurchase agreements with any party, in each case without notice to Customer, and without any
obligation to pay or to account to Customer for any interest, income or benefit that may be derived therefrom. CSSU shall be under no obligation to deliver the same property deposited with CSSU or received by CSSU for the account of Customer, but
may deliver other property of like or equivalent kind or amount. 

	 	(k)	Reports and Objections. All oral and written reports relating to the Account (which, if oral, (i) will be limited to reports generally delivered orally in
the industry and for which written reports are not required pursuant to law, rule or regulation, (ii) will be delivered by CSSU to Customer’s representative that CSSU has a reasonable basis for believing is authorized to receive such
report and which will, and (iii) will be delivered in a conversation to Customer’s representative and not by voicemail or phone message), including but not limited to confirmations, purchase and sale notices, correction notices and account
statements (collectively, “Statements”) shall be submitted to Customer and shall be conclusive and binding on Customer unless Customer notifies CSSU of any objection thereto (i) in the case of any oral communication, at the time such
report is given to Customer or its representative, and (ii) prior to the opening of trading on the exchange or market on which such transaction occurred on the business day following the day on which Customer receives such Statement;
provided, that with respect to monthly Statements, Customer may notify CSSU of any objection thereto within ten business days after receipt, absent manifest error. Any such notice of objection, if given orally to CSSU, shall within three
business days be confirmed in writing by Customer. 

  

	 	(l)	Delivery and Option Exercise Instructions and Procedures. 

  

	 	(i)	CSSU shall liquidate any Contract for which an offsetting order is entered by Customer, unless Customer instructs CSSU not to liquidate such Contract and to maintain
the offsetting Contracts as open positions, provided, that CSSU shall not be obligated to comply with any such instructions given by Customer if Customer fails to provide CSSU with any representations, documentation or information reasonably
requested by CSSU or if, in CSSU’s reasonable judgment, failure to offset such Contracts against each other would result in a violation of Applicable Laws. 

 

	 	(ii)	Unless Customer shall have delivered to CSSU sufficient funds and/or the necessary documents to make or take delivery, Customer shall, with respect to open positions in
futures contracts, give CSSU liquidating instructions at least [five] business days prior to the first notice day, in the case of long positions, and at least 5 business days prior to the last trading day, in the case of short positions.

  

	 	(iii)	With respect to long option positions, Customer shall give CSSU instructions to exercise, and shall deposit sufficient funds and/or the necessary documents for such
exercise, on the day Customer intends to exercise; provided, however, that, with respect to options on futures contracts, such instructions must be given prior to the close of the market in the underlying futures contract and in no event less than
one business day before the last trading day in any option. 

  

	 	(iv)	Customer acknowledges that certain option contracts sold by Customer are subject to exercise at any time and that rules of the relevant exchange or clearinghouse may
provide for the automatic exercise of options that are in-the-money at the time of expiration. Exercise notices received by CSSU from the applicable exchange or clearinghouse with respect to any option contract sold by CSSU’s customers will be
allocated among such customers (including Customer) pursuant to a nonpreferential allocation procedure and Customer shall be bound by any allocation made to it pursuant to such procedure. Such notices may be allocated to Customer after the close of
trading on the day on which such notices have been allocated to CSSU by the applicable exchange or clearinghouse. CSSU shall use reasonable efforts to contact Customer promptly upon its allocation of an exercise notice to Customer.

	 	(v)	Subject to the foregoing, CSSU shall have no responsibility for any action that it takes or fails to take with respect to any option contract (including, without
limitation, any responsibility to exercise any option contract purchased by Customer unless and until CSSU receives acceptable and timely instructions from Customer indicating the action to be taken.) If Customer does not either give instructions or
deliver the required funds and/or documents to CSSU as required herein, CSSU may, after using reasonable efforts to provide notice to Customer, either exercise, abandon or liquidate Customer’s positions or take or make delivery on behalf of
Customer in any commercially reasonable manner. 

  

	 	(m)	Financial and Other Information. Customer shall provide to CSSU such financial information regarding Customer as CSSU may from time to time reasonably request to
determine Customer’s financial condition and Customer’s ability to perform its obligations under this Agreement or in connection with any Contracts executed by CSSU on Customer’s behalf. Customer shall notify CSSU promptly if the
financial condition of Customer changes materially and adversely from that shown in the most recent financial information theretofore provided to CSSU. Customer authorizes CSSU to contact such banks, financial institutions and credit agencies as
CSSU shall in good faith deem reasonably appropriate from time to time to verify information regarding Customer that may be provided by Customer from time to time. Customer further authorizes CSSU to conduct, or cause to be conducted, an
investigation into Customer’s background, including but not limited to, credit, regulatory and legal matters, and authorizes CSSU to retain a consumer reporting agency for such purpose. 

 

	 	(n)	Currency Exchange Risk. In the event that Customer directs CSSU to enter into any Contract or transaction in a foreign currency or CSSU permits Customer to
deposit foreign currency in satisfaction of any of Customer’s margin, settlement or premium obligations in respect of any Contract, any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be
entirely for the account and risk of Customer. Absent specific written instruction from Customer, CSSU shall, when such Contract or transaction is terminated, credit the account of Customer in such foreign currency or in U.S. dollars at a rate of
exchange based upon then prevailing money markets rates of exchange for such foreign currency. 

  

	 	(o)	Transactions on SGX-DT. If Customer intends to engage in transactions on the Singapore Exchange Derivatives Trading, Limited (“SGX-DT”) through CSSU,
then Customer agrees that, with respect to transactions on SIMEX, notwithstanding anything to the contrary herein, (a) the phrase “(as defined in the Companies Act, Cap 50)” shall be added after the word “subsidiary”
wherever the latter shall appear in this Agreement, and (b) the phrase “(excluding Saturdays)” shall be added after the phrase “business days” wherever the latter shall appear in this Agreement. 

 

	 	(p)	Cross Trade Consent. The undersigned Customer hereby agrees that CSSU, its managing directors, officers, employees, affiliates, agents and, floor brokers, where
acting on CSSU’s behalf, in any transaction for the undersigned Account may take the other side of the transaction, subject to the transaction being executed in accordance with the regulations of the applicable exchange and regulations of the
CFTC. 

  

	8.	Termination. 

 This
Agreement may be terminated at any time by Customer or CSSU by written notice to the other; provided, however, that CSSU shall provide Customer with at least 15 days prior written notice of its intention to terminate this Agreement. Termination
shall not affect any transaction entered into prior to receipt of such notice and shall not relieve either party of any obligations in connection with any debt or credit balance or other liability or obligation incurred prior to such receipt. In the
event of such notice, Customer shall either close out open positions in the Account or arrange for such open positions to be transferred to another futures commission merchant within five (5) business days after delivery of such notice to
Customer. Upon satisfaction by Customer of all of Customer’s liabilities, CSSU shall transfer to another futures commission merchant all Contracts, if any, then held for the Account, and shall transfer to Customer or to another futures
commission merchant, as Customer may instruct, all cash, securities and other property held in the Account, whereupon this Agreement shall terminate. 

	9.	Miscellaneous. 

  

	 	(a)	Severability. If any provision of this Agreement is, or at any time becomes, inconsistent with any present or future law, rule or regulation of any exchange or
other market, sovereign government or regulatory body thereof, and if any of these authorities have jurisdiction over the subject matter of this Agreement, the inconsistent provision shall be deemed superseded or modified to conform with such law,
rule or regulation but in all other respects, this Agreement shall continue and remain in full force and effect. 

  

	 	(b)	Successors and Assigns. This Agreement shall be binding upon the parties and their successors and permitted assigns. Neither party hereto may assign its rights
or obligations hereunder without the prior written consent of the other party; provided, however, that CSSU may assign its rights and obligations hereunder to any of its affiliates. Any such assignment in violation of this paragraph shall be void.

  

	 	(c)	Entire Agreement. This Agreement contains the entire agreement between the parties and supersedes any prior agreements between the parties as to the subject
matter hereof. No provision of this Agreement shall in any respect be waived, altered, modified, or amended unless such waiver, alteration, modification or amendment is in writing and signed by Customer and a duly authorized officer of CSSU

  

	 	(d)	Currency Denomination. Unless another currency is designated in the confirmations reporting transactions entered into by Customer, all Margin deposits in
connection with such transactions, and a debit or credit in the Account, shall be stated in United States dollars. 

  

	 	(e)	Instructions, Notices or Communications. Except as specifically otherwise provided in this Agreement, all instructions, notices or other communications
may be oral or written. All oral instructions, unless custom and usage of trade dictate otherwise, shall be promptly confirmed in writing. All written instructions, notices or other communications shall be addressed as follows:

  

	 	(i)	if to CSSU: 

CREDIT SUISSE SECURITIES (USA) LLC 

Attention: Futures Department 

One Madison Avenue 

Second Floor 

New York, New York 10010 
  

	 	(ii)	if to Customer: at the address as indicated on the Futures Account Application. 

 

	 	(f)	No Waiver. No failure on the part of CSSU to exercise, and no delay in exercising, any contractual right will operate as a waiver thereof, nor will any single or
partial exercise by CSSU of any right preclude any other or future exercise thereof or the exercise of any other partial right. 

  

	 	(g)	Governing Law. THE INTERPRETATION AND ENFORCEMENT OF THIS AGREEMENT AND THE RIGHTS, OBLIGATIONS AND REMEDIES OF THE PARTIES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CHOICE OF LAW. 

	 	(h)	Consent to Jurisdiction. ANY LEGAL ACTION, SUIT OR PROCEEDING BETWEEN CSSU AND CUSTOMER RELATING TO THIS AGREEMENT OR TRANSACTIONS HEREUNDER SHALL TAKE PLACE IN
THE COURTS OF THE STATE OF NEW YORK LOCATED IN THE BOROUGH OF MANHATTAN OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK. EACH PARTY CONSENTS TO THE SERVICE OF PROCESS BY THE MAILING TO CUSTOMER OF COPIES OF SUCH COURT
FILING BY CERTIFIED MAIL TO THE ADDRESS OF CUSTOMER AS IT APPEARS ON THE FUTURES ACCOUNT APPLICATION OR TO CSSU AT THE ADDRESS IN SECTION 9(e) ABOVE, SUCH SERVICE TO BE EFFECTIVE TEN DAYS AFTER MAILING. EACH PARTY AGREES THAT ANY LEGAL ACTION, SUIT
OR PROCEEDING ARISING OUT OF, OR RELATING TO, THIS AGREEMENT MAY BE BROUGHT IN SUCH COURTS; AND WAIVES, AND AGREES NOT TO ASSERT, AS A DEFENSE IN ANY SUCH ACTION, SUIT OR PROCEEDING (I) THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF
SUCH COURTS, (II) THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SUCH COURTS, (III) THAT THIS AGREEMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, OR (IV) THAT THE VENUE OF ANY SUCH ACTION, SUIT OR PROCEEDING IS
INCONVENIENT OR IMPROPER. FINAL JUDGMENT IN ANY ACTION, SUIT OR PROCEDDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN ANY OTHER JURISDICTION BY SUIT ON THE JUDGMENT, A CERTIFIED COPY OF WHICH SHALL BE CONCLUSIVE EVIDENCE OF THE FACT AND AMOUNT OF
INDEBTEDNESS ARISING FROM SUCH JUDGMENT. EACH PARTY HEREBY WAIVES IRREVOCABLY ANY IMMUNITY TO WHICH IT MIGHT OTHERWISE BE ENTITLED IN ANY ACTION AT LAW, SUIT IN EQUITY OR ANY OTHER PROCEEDING ARISING OUT OF OR BASED ON THIS AGREEMENT OR ANY
TRANSACTION IN CONNECTION HEREWITH. 

  

	 	(i)	Waiver of Jury Trial and Punitive Damages. Customer hereby waives a trial by jury in any action arising out of or relating to this Agreement or any transaction
in connection therewith. Furthermore, no party to this Agreement will attempt to obtain an award of punitive damages against the other. 

  

	 	(k)	Customer Acknowledgments. 

  

	 	(i)	CUSTOMER HEREBY ACKNOWLEDGES THAT IT HAS RECEIVED AND UNDERSTANDS _THE FOLLOWING DISCLOSURE STATEMENTS PRESCRIBED BY THE CFTC AND FURNISHED HEREWITH

 X    Risk Disclosure Statement (CFTC Rule 1.55) (delivered in Booklet
2) 
  

	 	(ii)	If Customer has indicated on the Futures Account Application that orders placed for the Account represent bona fide hedging transactions, please complete the following.
CFTC Regulation 190.06 permits you to specify whether, in the unlikely event of CSSU’s bankruptcy, you prefer the bankruptcy trustee to liquidate or transfer to another futures commission merchant all positions in the Account. Accordingly,
Customer hereby elects as follows: (check one) 

  

	 	 ̈	Liquidation 

  

	 	 ̈	Transfer to another futures commission merchant 

If neither alternative is checked, Customer will be deemed to have elected to have all positions liquidated. This election may be changed
at any time by written notice. 
  

	 	(iii)	Customer acknowledges that unless this is a hedge account, investment in futures and options on futures contracts is speculative, involves a high degree of risk and is
suitable only for persons who can assume the risk of substantial losses. Customer also understands that because of the low margin normally required in commodity futures and on short positions in options on futures, price changes in futures contracts
may result in significant losses, which losses may exceed the Margin deposit. Purchasers of options on futures may lose the entire amount of the premium paid. 

	 	(l)	Reasonable Performance. CSSU will perform its duties and exercise its discretion hereunder in a reasonable manner. 

IN WITNESS WHEREOF, Customer has executed this Agreement on the date indicated below. 

Jefferies S&P 500 VIX Short-Term Futures ETF 
  

									
	Customer	 		  		  	
					
	By:	 	  
	 		  	Date:	  	  

		 	(Authorized Officer/General Partner)	 		  		  	
					
	Name:	 	  
	 		  	Title:	  	  

		 	                (Print)	 		  		  	(Print)
				
	Individual/Joint Account:	 		  		  	
					
	By:	 	  
	 		  	By:	  	  

		 	    (Individual)	 		  		  	    Secondary Party (Joint Account)
					
	Name:	 	  
	 		  	Name:	  	  

					
	Date:	 	  
	 		  	Date:Form of Marketing Agent Agreement

 Exhibit 10.5 

JEFFERIES S&P 500 VIX SHORT-TERM FUTURES INDEX ETF 

MARKETING AGENT AGREEMENT 

MARKETING AGENT AGREEMENT (the “Agreement”) made as of             , 2010
(the “Effective Date”), by and among Jefferies S&P 500 VIX Short-Term Futures ETF (the “Trust”), a Delaware statutory trust, Jefferies Commodity Investment Services, LLC (the “Sponsor”), a Delaware limited liability
company, and ALPS Distributors, Inc. (the “Marketing Agent” or “ADI”), a Colorado corporation. Capitalized terms used but not defined in this Agreement shall have the meaning ascribed thereto in the Trust’s Prospectus
included its Registration Statement on Form S-1 (Registration No. 333-166283), as it may be amended from time to time. 

W I T N E S S E T H: 
 WHEREAS,
the Sponsor, on behalf of the Trust, has filed with the Securities and Exchange Commission (the “Commission” or “SEC”) a registration statement on Form S-1 (Registration No. 333-166283) and amendments thereto, including as
part thereof a prospectus (the “Prospectus”), under the Securities Act of 1933, as amended (the “1933 Act”), the forms of which have heretofore been delivered to the Marketing Agent; 

WHEREAS, as described in the Prospectus and the authorized purchaser agreements to be entered into by the Sponsor and certain broker dealers from time to
time (each such agreement, an “Authorized Purchaser Agreement”), units of fractional undivided beneficial interest in and ownership of the Fund (the “Units”) may be created or redeemed by an Authorized Purchaser in aggregations
of ten thousand (10,000) Units (each aggregation, a “Creation Basket” or “Redemption Basket,” respectively; and collectively, “Baskets”); and 

WHEREAS, the Trust and Sponsor wish to employ the Marketing Agent in connection with the performance of the services listed in Schedule A and
additional services as may be agreed from time to time; 
 NOW, THEREFORE, in consideration of the mutual promises and undertakings herein
contained, the parties agree as follows: 
 1. Registration. The Sponsor has furnished or will furnish, upon request, the Marketing Agent
with copies of the Trust’s trust agreement, custodian agreements, transfer agency agreement, current prospectus and all forms relating to any plan, program or service offered by the Trust. The Sponsor shall furnish, within a reasonable time
period, to the Marketing Agent a copy of any amendment or supplement to any of the above-mentioned documents. Upon request, the Sponsor shall furnish promptly to the Marketing Agent any additional documents necessary or advisable to perform its
functions hereunder. As used in this Agreement, the terms “registration statement” and “prospectus” shall mean any registration statement and prospectus filed by the Trust with the SEC and any amendments and supplements thereto
that are filed with the SEC. 

 2. Representations and Warranties of the Sponsor. The Sponsor represents, warrants and covenants to
the Marketing Agent the following: 
 (a) The Sponsor has been duly organized and is validly existing as a limited liability
company in good standing under the laws of the State of Delaware, with full power and authority to conduct its business as described in the Registration Statement and the Prospectus, and has all requisite power and authority to execute and deliver
this Agreement; 
 (b) The Sponsor is duly qualified and is in good standing in each jurisdiction where the conduct of its
business requires such qualification; and 
 (c) This Agreement has been duly authorized, executed and delivered by the Sponsor
and constitutes the valid and binding obligations of the Sponsor, enforceable against the Sponsor in accordance with its terms. 
 3.
Representations and Warranties of the Trust. The Sponsor, on behalf of the Trust, represents, warrants and covenants to the Marketing Agent the following: 

(a) The Trust has been duly organized and is validly existing as a statutory trust in good standing under the laws of the State of
Delaware, with full power and authority to conduct its business as described in the Registration Statement and the Prospectus, and has all requisite power and authority to execute and deliver this Agreement; 

(b) The Trust is duly qualified and is in good standing in each jurisdiction where the conduct of its business requires such
qualification; and 
 (c) This Agreement has been duly authorized, executed and delivered by the Trust and constitutes the valid
and binding obligations of the Trust, enforceable against the Trust in accordance with its terms. 
 4. Representations and Warranties of the
Marketing Agent. The Marketing Agent represents, warrants and covenants to the Trust and the Sponsor the following: 
 (a)
The Marketing Agent is registered as a broker-dealer under the Securities Exchange Act of 1934, as amended (the “1934 Act”), and is a member in good standing of the Financial Industry Regulatory Authority (“FINRA”) and is
qualified to act as a broker or dealer in the states or other jurisdictions where the nature of its business so requires; and has all other necessary licenses, authorizations, consents and approvals and has made all necessary filings required under
any federal, state, local or foreign law, regulation or rule, and has obtained all necessary authorizations, consents and approvals from other persons, in order to conduct its activities as contemplated by this Agreement. The Marketing Agent will
maintain any such registrations, qualifications and membership in good standing and in full force and effect throughout the term of this Agreement. The Marketing Agent will comply with all applicable federal laws, including but not limited to,
federal securities and commodities laws, the laws of the states or other jurisdictions concerned, and the rules and regulations promulgated thereunder, and with the Constitution, By-Laws and Conduct Rules of FINRA; 

 (b) The Marketing Agent (i) has been duly organized and is validly existing as a
corporation in good standing under the laws of the State of Colorado, with full power and authority to conduct its business and has all requisite power and authority to execute and deliver this Agreement and (ii) is duly qualified and is in
good standing in each jurisdiction where the conduct of its business requires such qualification; and 
 (c) This Agreement has
been duly authorized, executed and delivered by the Marketing Agent and constitutes the valid and binding obligations of the Marketing Agent, enforceable against the Marketing Agent in accordance with its terms. 

5. Fees and Trust Expenses. 

(a) In consideration of the services to be performed by the Marketing Agent hereunder as set forth on Schedule A attached
hereto and as it may be amended from time to time, the Sponsor will pay the Marketing Agent an annual fee, calculated daily and payable monthly, equal to the greater of $25,000 minimum per year or an annual rate of 0.05% of the Trust’s average
daily net assets (the “Fee”). Notwithstanding the foregoing, for the first eighteen (18) months after the Effective Date, the Fee will be calculated daily and payable monthly, equal to the greater of $25,000 minimum per year or an
annual rate of 0.04% of the Trust’s average daily net assets. If there is a change of control of the Sponsor (a “Change of Control”) and the Marketing Agent is not retained as active marketing agent for the Trust, the Sponsor agrees
to pay the Marketing Agent an agreed-upon contract termination fee based on the Trust’s assets at the time of the Change of Control. 

(b) The Sponsor shall reimburse the Marketing Agent for any reasonable fees or disbursements incurred by the Marketing Agent in
connection with the performance by the Marketing Agent of its duties under and pursuant to this Agreement including, but not limited to, the items identified as Out-of-Pocket Expenses in Schedule B of this agreement. Unless otherwise agreed
to by the parties hereto in writing, the Marketing Agent shall not be responsible for fees and disbursements in connection with (a) filing of any registration statement, printing and the distribution of any prospectus under the 1933 Act and
amendments prepared for use in connection with the offering of shares for sale to the public, preparing, setting in type, printing and mailing the prospectus, and any supplements thereto sent to shareholders of the Trust, (b) preparing, setting
in type, printing and mailing any report (including annual and semi-annual reports), marketing materials or other communication to shareholders of the Trust, (c) the Blue Sky registration and qualification of shares of the Trust for sale in the
various states in which the officers of the Trust shall determine it advisable to qualify such shares of the Trust for sale (including registering the Trust as a broker or dealer or any officer of the Trust or any Trust as agent or salesman in any
state), and (d) placing Trust advertisements in various periodicals. 
 (c) The payments to the Marketing Agent under
subsections 5(a) and 5(b) will not, in the aggregate, exceed 0.25% of the gross offering proceeds of the offering (in a dollar amount equal to the amount disclosed on Schedule C of the aggregate amount registered on the corresponding
Registration Statements in respect of the Trust). Schedule C will be amended from time-to-time in the event that additional amounts of Shares are registered. The Trust and the Marketing

 
Agent will monitor compensation received in connection with the Trust to determine if the payments described hereunder must be limited, when combined with selling commissions charged by other
FINRA members, in order to comply with the 10% limitation on total underwriters’ compensation pursuant to FINRA Rule 2310. 
 6. Use of
the Marketing Agent’s Name. Neither the Trust nor the Sponsor, or any of their affiliates, shall use the name of the Marketing Agent, or any of its affiliates, in any prospectus, sales literature or other material relating to the Trust in
any manner without the prior written consent of the Marketing Agent (which shall not be unreasonably withheld); provided, however, that the Marketing Agent hereby approves all lawful uses of the names of the Marketing Agent and its
affiliates in the prospectus of the Trust and in all other materials which merely refer to accurate terms to their appointment hereunder or which are required by the SEC, FINRA, OCC, the Commodity Futures Trading Commission (the “CFTC”),
the National Futures Association (the “NFA”) or any state securities authority. 
 7. Use of the Trust’s Name. Neither the
Marketing Agent nor any of its affiliates shall use the name of the Trust in any publicly disseminated materials, including sales literature in any manner without the prior consent of the Sponsor (which shall not be unreasonably withheld);
provided, however, that the Sponsor hereby approves all lawful uses of its or the Trust’s names in any required regulatory filings of the Marketing Agent which merely refer in accurate terms to the appointment of the Marketing
Agent hereunder, or which are required by the SEC, FINRA, or any state securities authority. 
 8. Indemnification of the Marketing
Agent. The Sponsor agrees to indemnify, defend and hold harmless the Marketing Agent, its partners, stockholders, members, directors, officers and employees of the foregoing, the controlling persons of all of the foregoing, within the meaning of
Section 15 of the 1933 Act or Section 20 of the 1934 Act, and the successors and assigns of all of the foregoing, from and against any loss, damage, expense, liability or claim (including the reasonable cost of investigation) which the
Marketing Agent or any such person may incur under the 1933 Act, the 1934 Act, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon: 

(a) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or in the Registration
Statement as amended or supplemented) or in a Prospectus (the term Prospectus being deemed to include the Prospectus and the Prospectus as amended or supplemented), or arises out of or is based upon any omission or alleged omission to state a
material fact required to be stated in either such Registration Statement or such Prospectus or necessary to make the statements made therein not misleading, except for any statements provided in writing, directly or indirectly by the Marketing
Agent to the Sponsor for inclusion in such Registration Statement or such prospectus or any material omissions therefrom; 
 (b)
any untrue statement or alleged untrue statement of a material fact or breach by the Sponsor of any representation or warranty contained in this Agreement; 

(c) the failure by the Sponsor to perform when and as required any agreement or covenant contained herein; 

 (d) any untrue statement of any material fact contained in any audio or visual materials
provided by the Sponsor or based upon written information furnished by or on behalf of the Sponsor including, without limitation, slides, videos, films or tape recordings used in connection with the marketing of the Trust; 

(e) the Marketing Agent’s performance of its duties under this Agreement except in the case of this clause (e), for any loss,
damage, expense, liability or claim resulting from the gross negligence or willful misconduct of the Marketing Agent. In no case is the indemnity of the Sponsor in favor of the Marketing Agent deemed to protect the Marketing Agent against any
liability to the Sponsor to which the Marketing Agent would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties
under this Agreement. 
 If any action, suit or proceeding (each, a “Proceeding”) is brought against the Marketing
Agent in respect of which indemnity may be sought against the Sponsor pursuant to the foregoing paragraph, the Marketing Agent shall promptly notify the Sponsor in writing of the institution of such Proceeding, and the Sponsor shall assume the
defense of such Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify the Sponsor shall not relieve the Sponsor from
any liability which it may have to the Marketing Agent hereunder except to the extent that it has been materially prejudiced by such failure. The Marketing Agent shall have the right to employ its or their own counsel in any such case, but the fees
and expenses of such counsel shall be at the expense of the Marketing Agent unless the employment of such counsel shall have been authorized in writing by the Sponsor in connection with the defense of such Proceeding or the Sponsor shall not have,
within a reasonable period of time in light of the circumstances, employed counsel to have charge of the defense of such Proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or
them which are different from, additional to or in conflict with those available to the Sponsor (in which case the Sponsor shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties), in any of
which events such fees and expenses shall be borne by the Sponsor and paid as incurred (it being understood, however, that the Sponsor shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any
one Proceeding or series of related Proceedings in the same jurisdiction representing the indemnified parties who are parties to such Proceeding). 

The Sponsor shall not be liable for any settlement of any Proceeding effected without the Sponsor’s written consent, but if settled
with the Sponsor’s written consent, the Sponsor agrees to indemnify and hold harmless the Marketing Agent from and against any loss or liability by reason of such settlement. Notwithstanding the foregoing sentence, if at any time an indemnified
party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second sentence of the foregoing paragraph, then the indemnifying party agrees that it shall be liable for
any settlement of any Proceeding effected without its written consent if (i) such settlement is entered into more than sixty (60) Business Days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying
party shall not have fully reimbursed the indemnified party in accordance with such request prior 

 
to the date of such settlement and (iii) such indemnified party shall have given the indemnifying party at least thirty (30) Business Days’ prior notice of its intention to settle.
No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have
been sought hereunder by such indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such Proceeding and does not include an admission of
fault, culpability or a failure to act, by or on behalf of such indemnified party. 
 9. Indemnification of Sponsor and the Trust. The
Marketing Agent agrees to indemnify, defend and hold harmless the Sponsor and the Trust, their partners, shareholders, directors, officers and employees of the foregoing, the controlling persons of all of the foregoing, within the meaning of
Section 15 of the 1933 Act or Section 20 of the 1934 Act, and the successors and assigns of all of the foregoing, from and against any loss, damage, expense, liability or claim (including the reasonable cost of investigation) which the
Sponsor may incur under the 1933 Act, the 1934 Act, the Rules and Regulations of the CFTC, the NFA, FINRA, the common law or otherwise, insofar as such loss, damage, expense, liability or claim arises out of or is based upon any untrue statement or
alleged untrue statement of a material fact contained in and in conformity with information furnished in writing, directly or indirectly through the Sponsor, by or on behalf of the Marketing Agent to the Sponsor expressly for use in the Registration
Statement (or in the Registration Statement as amended or supplemented by any post-effective amendment thereof) or in a Prospectus, or arises out of or is based upon any omission or alleged omission to state a material fact in connection with such
information required to be stated in such Registration Statement or such Prospectus or necessary to make such information not misleading. 
 The
Marketing Agent will also indemnify the Sponsor and the Trust as stated above insofar as such loss, damage, expense, liability or claim arises out of or is based upon the Marketing Agent’s performance of its duties under this Agreement, except
in the case of any loss, damage, expense, liability or claim resulting from the gross negligence or willful misconduct of the Sponsor or the Trust. In no case is the indemnity of the Marketing Agent in favor of the Sponsor and the Trust to be deemed
to protect the Sponsor or the Trust against any liability to the Marketing Agent to which the Sponsor or the Trust would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by
reason of its reckless disregard of the Sponsor’s or the Trust’s obligations and duties under this Agreement. 
 The Marketing Agent
also agrees to indemnify, defend and hold harmless the Sponsor and the Trust, their partners, shareholders, directors, officers and employees of the foregoing, the controlling persons of all of the foregoing, within the meaning of Section 15 of
the 1933 Act or Section 20 of the 1934 Act, for (i) any any untrue statement or alleged untrue statement of a material fact or breach by the Marketing Agent of any representation or warranty contained in this Agreement, and (ii) the
failure by the Marketing Agent to perform when and as required any agreement or covenant contained herein. 

 If any Proceeding is brought against the Sponsor or the Trust in respect of which indemnity may be sought
against the Marketing Agent pursuant to the first paragraph of this Section 9, the Sponsor shall promptly notify the Marketing Agent in writing of the institution of such Proceeding and the Marketing Agent shall assume the defense of such
Proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses; provided, however, that the omission to so notify the Marketing Agent shall not relieve the Marketing Agent from
any liability hereunder which it may have to the Sponsor except to the extent that it has been materially prejudiced by such failure. The Sponsor and the Trust shall have the right to employ their own counsel in any such case, but the fees and
expenses of such counsel shall be at the expense of the Sponsor unless the employment of such counsel shall have been authorized in writing by the Marketing Agent in connection with the defense of such Proceeding or the Marketing Agent shall not
have, within a reasonable period of time in light of the circumstances, employed counsel to defend such Proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are
different from or additional to or in conflict with those available to the Marketing Agent (in which case the Marketing Agent shall not have the right to direct the defense of such Proceeding on behalf of the indemnified party or parties, but the
Marketing Agent may employ counsel and participate in the defense thereof but the fees and expenses of such counsel shall be at the expense of the Marketing Agent), in any of which events such fees and expenses shall be borne by the Marketing Agent
and paid as incurred (it being understood, however, that the Marketing Agent shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) in any one Proceeding or series of related Proceedings in the same
jurisdiction representing the indemnified parties who are parties to such Proceeding). 
 The Marketing Agent shall not be liable for any
settlement of any such Proceeding effected without the written consent of the Marketing Agent but if settled with the written consent of the Marketing Agent, the Marketing Agent agrees to indemnify and hold harmless the Sponsor and the Trust from
and against any loss or liability by reason of such settlement. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of
counsel as contemplated by the second sentence of the foregoing paragraph, then the indemnifying party agrees that it shall be liable for any settlement of any Proceeding effected without its written consent if (i) such settlement is entered
into more than sixty (60) Business Days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of
such settlement and (iii) such indemnified party shall have given the indemnifying party at least thirty (30) Business Days’ prior notice of its intention to settle. No indemnifying party shall, without the prior written consent of
the indemnified party, effect any settlement of any pending or threatened Proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such
settlement includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such Proceeding. 

10. Term. This Agreement shall become effective as of the Effective Date and shall continue until two (2) years from such date and thereafter
shall continue automatically for successive annual periods, provided that such continuance is specifically approved at least annually by the Sponsor. Upon and after completion of the Term, either the Marketing Agent, on the one hand, or the Sponsor,
on the other hand, may elect to terminate this Agreement at any time upon sixty (60) days’ prior written notice to the other party. 

 Notwithstanding the foregoing, this Agreement may be terminated by any party upon written notice to the
other parties if (a) the Trust is terminated, (b) any other party becomes insolvent or bankruptcy or files a voluntary petition, or is subject to an involuntary petition, in bankruptcy or attempts to or makes an assignment for the benefit
of its creditors or consents to the appointment of a trustee or receiver or (c) any other party willfully and materially breaches its obligations under this Agreement and such breach has not been cured to the reasonable satisfaction of the
non-breaching party prior to the expiration of sixty (60) days after written notice by the non-breaching party to the breach party of such breach. 

Upon the termination of this Agreement, the Marketing Agent, at the Sponsor’s expense and direction, shall transfer to such successor, as the
Sponsor shall specify, all relevant books, records and other data established or maintained by the Marketing Agent under this Agreement. 
 11.
Notice. All notices, waivers, or other communications pursuant to this Agreement shall be in writing and shall be deemed to be sufficient if delivered personally, by facsimile (and, if sent by facsimile, followed by delivery by
nationally-recognized express courier), sent by nationally-recognized express courier or mailed by registered or certified mail (return receipt requested), postage prepaid, to the parties at the following addresses (or at such other address for a
party as shall be specified by like notice): 
 if to the Trust or the Sponsor, at: 

Jefferies S&P 500 VIX Short-Term Futures ETF 

c/o Jefferies Commodity Investment Services, LLC 

One Station Place 

Three North 

Stamford, Connecticut 06902 

Attn: Andrew R. Kaplan, Esq. 

Fax: 
 with a
copy to 
 Name 

Address 
 Address

 Attn: 

Fax: 
 if to the
Marketing Agent at: 
 ALPS Distributors, Inc. 

1290 Broadway, Suite 1100 

Denver, Colorado, 80203 

Attn: General Counsel 

Fax: 303-623-7850 

 All such notices and other communications shall be deemed to have been delivered and received (i) in
the case of personal delivery or delivery by facsimile or e-mail, on the date of such delivery if delivered during business hours on a Business Day or, if not delivered during business hours on a Business Day, the first Business Day thereafter,
(ii) in the case of delivery by nationally-recognized express courier, on the first Business Day following dispatch, and (iii) in the case of mailing, on the third Business Day following such mailing. 

12. Confidential Information. The Marketing Agent and its officers, directors, employees and agents will treat confidentially and as proprietary
information of the Trust, all records and other information relative to the Trust. If the Marketing Agent is requested or required by, but not limited to, depositions, interrogatories, requests for information or documents, subpoena, civil
investigation, demand or other action, proceeding or process or as otherwise required by law, statute, regulation, writ, decree or the like to disclose such information, the Marketing Agent will provide the Sponsor with prompt written notice of any
such request or requirement so that the Sponsor may seek an appropriate protective order or other appropriate remedy and/or waive compliance with this provision. If such order or other remedy is not sought, or obtained, or waiver not received within
a reasonable period following such notice, then the Marketing Agent may without liability hereunder, disclose to the person, entity or agency requesting or requiring the information, that portion of the information that is legally required in the
reasonable opinion of the Marketing Agent’s counsel. 
 13. Miscellaneous. 

(a) Each party agrees to perform such further acts and execute such further documents as are necessary to effectuate the purposes hereof.

 (b) All questions concerning the construction, interpretation and validity of this Agreement shall be governed by, and
construed and enforced in accordance with, the domestic laws of the State of New York, without giving effect to any choice or conflict of law provision or rule (whether in the State of Colorado or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of New York. In furtherance of the foregoing, the internal law of the State of New York will control the interpretation and construction of this Agreement, even if under such
jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily or necessarily apply. 

Each party irrevocably consents and agrees, for the benefit of the other parties, that any legal action, suit or proceeding against it with respect to
its obligations, liabilities or any other matter arising out of or in connection with this Agreement may be brought in the courts of the State of Colorado and hereby irrevocably consents and submits to the non-exclusive jurisdiction of each such
court in personam, generally and unconditionally with respect to any action, suit or proceeding for itself and in respect of its properties, assets and revenues. Each party irrevocably waives any immunity to jurisdiction to which it may otherwise be
entitled or become entitled 

 
(including sovereign immunity and immunity to pre-judgment attachment and execution) in any legal suit, action or proceeding against it arising out of or based on this Agreement or the
transactions contemplated hereby or thereby which is instituted in any court of the State of Colorado. 
 The provisions of this
Section 13(b) shall survive any termination of this Agreement, in whole or in part. 
 (c) This Agreement (including any
schedules attached hereto) contains all of the agreements among the parties hereto and thereto with respect to the transactions contemplated hereby and thereby and supersedes all prior agreements or understandings, whether written or oral, among the
parties with respect thereto. 
 (d) All the terms and provisions of this Agreement shall be binding upon and inure to the
benefit of the parties and their respective successors and permitted assigns. This Agreement shall not be assigned by any party without the prior written consent of the other parties and any assignment without such consent shall be null and void.

 (e) The captions in this Agreement are included for convenience of reference only and in no way define or delimit any of the
provisions hereof or otherwise affect their construction or effect; provided, however, Schedule C to this Agreement may be unilaterally amended and replaced by the Sponsor at its discretion provided a copy of such revised Schedule C is
provided to the Marketing Agent. 
 (f) This Agreement may not be amended, modified or supplemented except by written instrument
that shall make specific reference to this Agreement and which shall be signed by the party against which enforcement of such amendment, modification or supplement is sought. 

(g) Except as otherwise provided in this Agreement, 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 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 or breach. 

(h) The 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) None of the parties will be
liable to any other party for any delay or failure to perform its obligations under this Agreement if such delay or failure arises from or is due to any cause or causes beyond the reasonable control of the party affected which impedes, delays or
aggravates any obligation under this Agreement, including, without limitation, acts of God, acts of any governmental entity, labor disturbances, act of terrorism or act of public enemy due to war, the outbreak or escalation of hostilities, riot,
fire, flood, civil commotion, insurrection, severe or adverse weather conditions, power failure or computer or communications line failure. 

 (j) Nothing in this Agreement is intended to, or will be construed to constitute the Sponsor
or the Trust, on the one hand, and the Marketing Agent, on the other hand, as partners or joint venturers; it being intended that the relationship between them will at all times be that of independent contractors. 

(k) 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 will be applied against any party. 
 (l) The parties hereto desire that the provisions of this
Agreement be enforced to the fullest extent permissible under the law and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, in the event that any provision of this Agreement would be held in any jurisdiction
to be invalid, prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision
in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without
invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 

(m) This Agreement may be executed simultaneously in two or more counterparts, each of which taken together shall constitute one and the
same instrument. Facsimile counterpart signatures to this Agreement shall be acceptable and binding. 
 (n) The Sponsor shall
provide all information to the Marketing Agent necessary for the Marketing Agent to perform its obligations under applicable securities laws and regulations as they relate to the transactions contemplated in this Agreement. 

(o) As used herein, a “Business Day” means any day other than a day when banks in New York City are required or permitted to be
closed. 
 14. Limitation of Liability It is expressly acknowledged and agreed that the obligations of the Trust hereunder shall not be
binding upon any shareholder, trustee, Sponsor, officer, employee or agent of the Trust, personally. This Agreement has been duly authorized, executed and delivered by the Trust and neither such authorization nor such execution and delivery shall be
deemed to have been made by any of them individually or to impose any liability on any of them personally. 
 [Signature Page
to Follow] 

 IN WITNESS WHEREOF, each of the undersigned has executed this instrument in its name and behalf as of
the Effective Date. 
  

			
	JEFFERIES S&P 500 VIX SHORT-TERM FUTURES ETF
		
	By:	 	 Jefferies Commodity Investment Services, LLC,

its Managing Owner

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 JEFFERIES COMMODITY INVESTMENT

SERVICES, LLC

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	ALPS DISTRIBUTORS, INC.
		
	By:	 	  

	Name:	 	Thomas A. Carter
	Title:	 	President

 Schedule A 

Marketing Agent Services 

(a) Marketing Agent senior management will: 
  

	 	•	 	 Develop an overall strategic sales and marketing plan with the National Accounts Manager of the Marketing Agent, the Sponsor, the Trust and the
specialist firm. 

  

	 	•	 	 Supervise sales-related activities. 

  

	 	•	 	 Participate in field sales activities. 

(b) The Marketing Agent will provide a shared National Accounts Manager who will: 

 

	 	•	 	 Implement a tactical sales strategy and marketing plan. 

 

	 	•	 	 Establish home office contacts with targeted broker/dealers. 

 

	 	•	 	 Attend major fee-based adviser conferences. 

(c) The Marketing Agent will provide resources from its call center to: 

 

	 	•	 	 Place outbound follow-up calls on 100% of phone and internet requests for information. 

 

	 	•	 	 Receive creation/redemption calls and communicate with authorized purchasers, advisers and the custodian. 

 

	 	•	 	 Transfer “hot” adviser leads to the Internal Wholesaler. 

 

	 	•	 	 Support a dedicated Trust toll-free line for advisers. 

(d) The Marketing Agent will provide appropriate staff to: 

 

	 	•	 	 Coordinate the design and production of sales and marketing materials, including: 

 

	 	•	 	 consulting with the Sponsor on the development of FINRA, SEC and CFTC compliant marketing campaigns; 

 

	 	•	 	 consulting with the Sponsor and the Trust’s legal counsel on marketing materials that are deemed to qualify as free-writing prospectus materials
and appropriate disclosure associated with all marketing materials; 

  

	 	•	 	 reviewing and filing applicable marketing materials with FINRA that do not otherwise qualify as free-writing prospectus materials; and

  

	 	•	 	 registering and overseeing supervisory activities of an unlimited number of FINRA licensed registered representatives (if applicable).

  

	 	•	 	 Maintain, reproduce and store applicable books and records relating to the services provided under this Agreement. 

(e) Because a legal distributor is not required for the Trust, the Marketing Agent will be acting in a role of marketing agent for the
Trust. In addition to the services described in this Appendix, the Marketing Agent’s role will include helping facilitate the authorized participant process by assisting the Trust in coordinating the authorized participant agreements.

 Schedule C 

Pursuant to Section 5(c) 

The payments to the Distributor under Section 5 will not, in the aggregate, exceed [-]% of the aggregate dollar amount of the offering (an amount
equal to $[-] of the $[-] Units registered on the Registration Statement on Form S-1 (333-166283) in respect of Jefferies S&P 500 VIX Short-Term Futures ETF).

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