Document:

Exhibit 10.3

 

Form
Of Administration Agreement

 

This Administration Agreement
(“Agreement”) made as of January 4, 2016, and to have an effective date on January 1, 2016, is by and between each
commodity pool entity set forth on Schedule A hereto (each such commodity pool entity and each commodity pool entity made subject
to this Agreement in accordance with Section 18 below shall hereinafter be referred to as a “Trust”) and State Street
Bank and Trust Company, a Massachusetts trust company (the “Administrator”).

 

WHEREAS, each Trust is
operated as a commodity pool under the Commodity Exchange Act, and is registered with the U.S. Securities and Exchange Commission
("SEC") by means of a registration statement on Form S-1 or S-3, as applicable (each a "Registration Statement")
under the Securities Act of 1933, as amended ("1933 Act");

 

WHEREAS, WisdomTree
Commodity Services, LLC or WisdomTree Coal Services, LLC, as applicable, serves as the managing owner and/or sponsor, and commodity
pool operator, of each Trust (the "Managing Owner" or “Sponsor”); and

 

WHEREAS, the Managing owner
on behalf of the Trust desires to retain the Administrator to furnish certain administrative services to the Trust, and the Administrator
is willing to furnish such services, on the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration
of the premises and mutual covenants herein contained, the parties hereto agree as follows:

 

		1.	Appointment of
Administrator

 

The Sponsor on behalf of
the Trust hereby appoints the Administrator to act as administrator to the Trust for purposes of providing certain administrative
services for the period and on the terms set forth in this Agreement. The Administrator accepts such appointment and agrees to
render the services stated herein.

 

		2.	Delivery of Documents

 

The Trust will promptly
deliver to the Administrator copies of each of the following documents and all future amendments and supplements, if any:

 

		a.	The Trust’s Declaration of Trust and Trust Agreement, as may be amended from time to time
(collectively, the “Charter Documents”);

 

		b.	The Trust’s currently effective Registration Statement under the 1933 Act and each Prospectus
(including any disclosure document and statement of additional information) relating to the Trust(s) and all amendments and supplements
thereto as in effect from time to time;

 

     

     

    

 

		c.	Certified copies of the resolutions of the Sponsor, on its behalf, authorizing (1) the Trust to
enter into this Agreement and (2) certain individuals on behalf of the Trust to (a) give instructions to the Administrator pursuant
to this Agreement and (b) sign checks and pay expenses;

 

		d.	A copy of any investment management agreement between the Trust and its Sponsor;

 

		e.	Copies of all of the Authorized Participant Agreements between the Trust, the Sponsor and any authorized
participants named therein, including all amendments thereto; and

 

		f.	Such other certificates, documents or opinions which the Administrator may, in its reasonable discretion,
deem necessary or appropriate in the proper performance of its duties.

 

		3.	Representations
and Warranties of the Administrator

 

The Administrator represents
and warrants to the Trust that:

 

		a.	It is a Massachusetts trust company, duly organized and existing under the laws of The Commonwealth
of Massachusetts;

 

		b.	It has the organizational power and authority to carry on its business in The Commonwealth of Massachusetts;

 

		c.	All requisite organizational proceedings have been taken to authorize it to enter into and perform
this Agreement;

 

		d.	No legal or administrative proceedings have been instituted or threatened which would materially
impair the Administrator’s ability to perform its duties and obligations under this Agreement;

 

		e.	Its entrance into this Agreement shall not cause a material breach or be in material conflict with
any other agreement or obligation of the Administrator or any law or regulation applicable to it;

 

		f.	It has and will continue to have access to the necessary facilities, equipment and personnel to
perform its duties and obligations under this Agreement;

 

		g.	It will promptly notify the Trust in the event that the Administrator is for any reason unable
to perform any of its obligations under this Agreement;

 

		h.	It will promptly notify the Trust, except as may be prohibited by applicable law, of any legal,
regulatory or administrative proceedings that have been instituted,

 

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which would materially impair the Administrator’s
ability to perform its duties and obligations under this Agreement; and

 

		i.	The various procedures and systems which it has implemented with regard to safeguarding from loss
or damage attributable to fire, theft or any other cause, the Trust’s records and other data and the Administrator’s
records, data equipment facilities and other property used in the performance of its obligations hereunder are adequate and it
will make such changes therein from time to time as it may deem reasonably necessary for the secure performance of its obligations
hereunder.

 

The Administrator further represents and warrants
that it will promptly notify the Trust if any of the above ceases to be true or if it is unable to perform its obligations under
this Agreement for any reason.

 

		4.	Representations
and Warranties of the Trust

 

The Trust represents and
warrants to the Administrator that:

 

		a.	It is a statutory trust, duly organized, existing and in good standing under the laws of its state
of formation;

 

		b.	It has the requisite power and authority under applicable laws and by its Charter Documents to
enter into and perform this Agreement;

 

		c.	All requisite proceedings have been taken to authorize it to enter into and perform this Agreement;

 

		d.	It has made all requisite filings, or is otherwise exempt from making filings, with the Commodity
Futures Trading Commission ("CFTC") and National Futures Association ("NFA");

 

		e.	The Registration Statement been filed and will be effective and remain effective during the term
of this Agreement. The Trust also warrants to the Administrator that as of the effective date of this Agreement, all necessary
filings under the securities laws of the states in which the Trust offers or sells its shares have been made;

 

		f.	No legal or administrative proceedings have been instituted or threatened which would impair the
Trust’s ability to perform its duties and obligations under this Agreement;

 

		g.	Its entrance into this Agreement will not cause a material breach or be in material conflict with
any other agreement or obligation of the Trust or any law or regulation applicable to it;

 

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		h.	As of the close of business on the date of this Agreement, the Trust is authorized to issue unlimited
shares of beneficial interest, subject to its effective Registration Statement;

 

		i.	It has all necessary right, title, intellectual property, licenses, consents and content as may
be necessary for the Trust to operate as presently contemplated.

 

The Trust further represents and warrants that
it will promptly notify the Administrator if any of the above ceases to be true or if it is unable to perform its obligations under
this Agreement for any reason.

 

		5.	Administration Services

 

The Administrator shall
provide the services as listed on Schedule B, subject to the authorization and direction of the Sponsor and, in each case where
appropriate, the review and comment by the Trust’s independent accountants and legal counsel and in accordance with procedures
which may be established from time to time between the Trust and the Administrator.

 

The Administrator shall
perform such other services for the Trust that are mutually agreed to by the parties from time to time, for which the Trust will
pay such fees as may be mutually agreed upon, including the Administrator’s reasonable out-of-pocket expenses. The provision
of such services shall be subject to the terms and conditions of this Agreement.

 

The Administrator shall
provide the office facilities and the personnel determined by it to perform the services contemplated herein.

 

In performing the services
hereunder, the Administrator shall comply with the applicable provisions of the Trust’s current Prospectus(es), and effective
amendments thereto. The Trust shall promptly provide the Administrator with copies of such material as soon as available and, upon
request, copies of any applicable resolutions by the Sponsor on behalf of the Trust which relate to the Trust’s shares.

 

		6.	Fees; Expenses; Expense Reimbursement

 

The Administrator shall
receive from the Trust such compensation for the Administrator’s services provided pursuant to this Agreement as may be agreed
to from time to time in a written Fee Schedule approved by the parties. The fees are accrued daily and billed monthly and shall
be due and payable upon receipt of the invoice. Upon the termination of this Agreement before the end of any month, the fee for
the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly
period and shall be payable upon the date of termination of this Agreement. In addition, the Trust agrees to reimburse the Administrator
for its reasonable out-of-pocket costs set out in the fee schedule. All rights of compensation and expense reimbursement under
this Agreement for services performed as of the termination date shall survive the termination of this Agreement.

 

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The Trust agrees promptly
to reimburse the Administrator for any equipment and supplies specially ordered by or for the Trust through the Administrator and
for any other expenses not contemplated by this Agreement that the Administrator may incur on the Trust’s behalf at the Trust’s
or Sponsor’s request or with the Trust’s or Sponsor’s consent.

 

Each of the Trust and the
Administrator will bear its own expenses. In particular, the Trust, will bear all Trust expenses that are incurred by the Trust,
or by the Administrator on the Trust’s behalf (e.g., typesetting, XBRL-tagging, page changes and all other print vendor and
EDGAR charges), in its operation unless otherwise assumed by the Administrator, including as part of the services or as otherwise
mutually agreed in writing by the Trust and the Administrator.

 

From time to time, the
Administrator is authorized to and may employ, associate or contract with such person or persons as the Administrator may deem
desirable to assist it in performing its duties under this Agreement; provided, however, that the compensation of such person or
persons shall be paid by the Administrator and that the Administrator shall be as fully responsible to the Trust for the acts and
omissions of any such person or persons as it is for its own acts and omissions. As mutually agreed by the Trust and the Administrator,
but in any event at least annually, the Administrator shall discuss with the Trust any assistance the Administrator has deemed
desirable in performing its duties under this Agreement.

 

		7.	Proper Instructions
and Advice

 

a.         The Trust or any
other person duly authorized by the Trust shall communicate to the Administrator by means of Proper Instructions (as defined in
Section 7.a. below). Proper Instructions shall mean (i) a writing signed or initialed by one or more persons as an officer or trustee
of the Trust (references to officers and/or trustees of the Trust as used herein shall be deemed to include officers and/or trustees/directors
of the Sponsor), or the delegate thereof, shall have from time to time authorized or (ii) communication effected directly between
the Trust or its third-party agents and the Administrator by electro-mechanical or electronic devices, provided that the Trust
and the Administrator agree to security procedures. The Administrator may rely upon any Proper Instruction reasonably believed
by it to be genuine and to have been properly issued by or on behalf of the Trust. Oral instructions shall be considered Proper
Instructions if the Administrator reasonably believes them to have been given by a person authorized to give such instructions;
provided, however, that the Trust shall cause all authorized oral instructions to be confirmed in accordance with clauses (i) or
(ii) above, as appropriate.

 

b.         At any time, the
Administrator may apply to any officer of the Trust or his or her designee for instructions and may consult with the independent
accountants for the Trust, with respect to any matter arising in connection with the services to be performed by the Administrator
under this Agreement. Where circumstances arise that the Administrator believes advice from counsel may be necessary, the Administrator
will notify the Trust. The Administrator shall be entitled to rely on and may act upon advice of counsel (who may be counsel for
the Trust) on all matters, and shall be without liability for any action reasonably taken or omitted pursuant to such advice provided,
however, with respect to the performance of any action or omission of any action upon such advice, the Administrator shall be acting
within the standard of care set forth in Section 8. The Administrator shall promptly notify the Trust of the receipt of such advice.
The

 

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Administrator shall not be held to have notice
of any change of authority of any person until receipt of written notice thereof from the Trust. Nothing in this section shall
be construed as imposing upon the Administrator any obligation to seek instructions or advice.

 

		8.	Limitation of
Liability and Indemnification

 

The Administrator shall
be responsible for the performance only of such duties as are set forth in this Agreement and, except as otherwise provided under
Section 6, shall have no responsibility for the actions or activities of any other party, including other service providers. The
Administrator shall at all times act in good faith and without negligence and agrees to exercise the care and expertise of a leading
provider of fund administration and fund accounting services in carrying out the provisions of this Agreement and use all reasonable
efforts in performing the services under this Agreement. The Administrator shall be kept indemnified by and shall be without liability
to the Trust for any action taken or omitted by it in good faith without negligence, bad faith or willful misconduct in connection
with the provision of services hereunder, provided that the Administrator shall not be indemnified against any liability (or any
expenses incident to such liability) arising out of the Administrator’s own bad faith, negligence, willful misconduct or
disregard of its duties and obligations under this Agreement. The Administrator shall have no liability in respect of any loss,
damage or expense suffered by the Trust insofar as such loss, damage or expense arises directly from the performance of the Administrator’s
duties hereunder in reliance upon records that were maintained for the Trust by entities other than the Administrator prior to
the Administrator’s appointment as administrator for the Trust (“Prior Records”) except as may arise from Administrator’s
own negligence, bad faith or willful misconduct or the negligence, bad faith or willful misconduct of an agent of the Administrator
provided that the Administrator shall notify the Trust as soon as practicable after becoming aware in the course of performing
its duties hereunder of an error or incomplete information in such Prior Records. For the avoidance of doubt, the Administrator
shall have no responsibility to review, confirm or otherwise verify the accuracy or completeness of any Prior Records. The Administrator
shall have no liability for any error of judgment or mistake of law or for any loss or damage resulting from the performance or
nonperformance of its duties hereunder except to the extent arising directly from the failure to exercise the standard of care
set out in this Section 8 or the bad faith, negligence or willful misconduct of the Administrator, its agents, officers or employees.

 

Except as may arise from
the Administrator’s failure to exercise its standard of care, the Administrator shall not be responsible or liable for any
failure or delay in performance of its obligations under this Agreement arising out of or caused, directly or indirectly, by circumstances
beyond its control, including without limitation, work stoppage, power or other mechanical failure, computer virus, natural disaster,
governmental action or communication disruption.

 

The Administrator shall,
at no additional expense to the Trust, take reasonable steps to minimize service interruptions in the event of equipment failure,
work stoppage, governmental action, communication disruption or other impossibility of performance beyond the Administrator’s
control. The Administrator shall enter into and shall maintain in effect at all times during the term of this Agreement with appropriate
parties one or more agreements making reasonable provision, at a level the Administrator believes consistent with other similarly
situated providers of fund administration services, for (i) periodic back-up of the computer files

 

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and data with respect to the Trust and (ii)
emergency use of electronic data processing equipment to provide services under this Agreement. Upon reasonable request, the Administrator
shall discuss with the Trust any business continuity/disaster recovery plan of the Administrator and/or provide a high-level presentation
summarizing such plan.

 

Notwithstanding anything
contained herein to the contrary, neither party shall be liable for any indirect, special or consequential damages; provided that
the foregoing limitation shall not apply with respect to damages or claims arising out of or relating to that party’s fraud
or willful misconduct.

 

In any event, except as
otherwise agreed to in writing by the parties hereto, the Administrator’s cumulative liability for each calendar year (a
“Liability Period”) with respect to the Trust under this Agreement regardless of the form of action or legal theory
shall be limited to its total annual compensation earned and fees payable hereunder during the preceding Compensation Period, as
defined herein, for any liability or loss suffered by the Trust including, but not limited to, any liability relating to qualification
of the Trust as a regulated investment company or any liability relating to the Trust’s compliance with any federal or state
tax or securities statute, regulation or ruling during such Liability Period. “Compensation Period” shall mean the
calendar year ending immediately prior to each Liability Period in which the event(s) giving rise to the Administrator’s
liability for that period have occurred. For any partial first year, the annual cumulative liability hereunder shall be the Administrator’s
total compensation earned and fees payable hereunder during such partial first year on an annualized basis.

 

The limitation of liability
and indemnification contained herein shall survive the termination of this Agreement.

 

		9.	Confidentiality

 

The parties hereto agree
that each shall treat confidentially all information provided by each party to the other party regarding its business and operations,
including information related to the development of new Trusts or new series. The Administrator shall treat confidentially all
information obtained in the ordinary course of performing its duties hereunder about the Trust’s prior, present or potential
shareholders or relative to the advisor or distributor and their prior, present or potential customers (including all “personal
information” described in Section 17 of this Agreement). All confidential information provided by a party hereto shall be
used by any other party hereto solely for the purpose of rendering or receiving services pursuant to this Agreement and, except
as may be required in carrying out this Agreement, shall not be disclosed to any third party. The foregoing shall not be applicable
to any information (i) that is publicly available when provided or thereafter becomes publicly available, other than through a
breach of this Agreement, (ii) that is independently derived by either party hereto without the use of any information provided
by the other party hereto in connection with this Agreement, (iii) that is disclosed, upon prior notice to the party whose information
is being disclosed (to the extent such notice is permissible), in the manner and to the extent required in any legal or regulatory
proceeding, investigation, audit, examination, subpoena, civil investigative demand or other similar process, or by operation of
law or regulation, or (iv) where the party seeking to disclose has received the prior written consent of the party providing the
information, which consent shall

 

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not be unreasonably withheld. Notwithstanding
the foregoing, each party acknowledges that the other party may provide access to and use of confidential information relating
to the other party to the disclosing party’s employees, contractors, agents, professional advisors, auditors or persons performing
similar functions, as necessary solely for the purpose of rendering services under this Agreement, provided that each person or
entity shall be subject to confidentiality obligations substantially similar to those set forth herein. Further, each party agrees
and represents that in no case would information it receives under this Agreement be used against the other party in a manner that
is adverse to the other party’s interests (including the other party’s interests in competitive businesses). Nothing
herein shall prohibit or restrict the right of each party (or its affiliates) to develop, use or market products or services similar
to or competitive with those of the other party (or its affiliates) provided that any such development, use or marketing does not
violate the confidentiality obligations set forth herein. Additionally, each party acknowledges that the other party (or its affiliates)
may already possess or have developed products or services similar to or competitive with those of the other party.

 

The Administrator will
employ reasonable safeguards designed to protect the Trust’s confidential information, which may include but are not limited
to the use of encryption technologies, passwords and any other safeguards the Administrator may choose to employ. If either party
becomes aware of a breach of this confidentiality provision, it will notify promptly the other party of such breach and provide
such details as it deems appropriate and in accordance with the standard of care hereunder regarding the extent of the breach of
confidentiality.

 

To the extent reasonably
possible, shareholder information made available to third parties by the Administrator will be provided on a non-disclosed basis
(that is, without information disclosing the identity of the shareholder). The Administrator affirms that it has, and will continue
to have throughout the term of this Agreement, procedures in place that are reasonably designed to protect the privacy of non-public
personal consumer/customer financial information to the extent required by applicable laws, rules and regulations.

 

The undertakings and obligations
contained in this Section shall survive the termination or expiration of this Agreement.

 

		10.	Compliance with
Governmental Rules and Regulations; Records

 

The Administrator agrees
to perform its duties hereunder in accordance with applicable law; however, the Administrator assumes no responsibility for ensuring
that the Trust complies with all securities, tax, commodities and other laws, rules and regulations applicable to the Trust.

 

The Administrator agrees
that all records which it maintains for the Trust shall at all times remain the property of the Trust, shall be readily accessible
during normal business hours, and shall be promptly surrendered upon the termination of the Agreement or otherwise on written request
except as otherwise provided in Section 12. Records may be surrendered in either written or machine-readable form, at the option
of the Administrator. Upon the reasonable request of the Trust, copies of any such books and records shall be provided by the Administrator.

 

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		11.	Services Not
Exclusive

 

The services of the Administrator
are not to be deemed exclusive, and the Administrator shall be free to render similar services to others. The Administrator shall
be deemed to be an independent contractor and shall, unless otherwise expressly provided herein or authorized by the Trust from
time to time, have no authority to act or represent the Trust in any way or otherwise be deemed an agent of the Trust.

 

		12.	Effective Period
and Termination

 

This Agreement shall remain
in full force and effect for an initial term ending March 31, 2019 (the “Initial Term”). After the expiration
of the Initial Term, this Agreement shall automatically renew for successive one-year terms (each, a “Renewal Term”)
unless a written notice of non-renewal is delivered by the non-renewing party no later than ninety (90) days prior to the expiration
of the Initial Term or any Renewal Term, as the case may be. During the Initial Term and thereafter, either party may terminate
this Agreement: (i) in the event of the other party’s material breach of a material provision of this Agreement that the
other party has either (a) failed to cure or (b) failed to establish a remedial plan to cure that is reasonably acceptable, within
60 days’ written notice of such breach, (ii) in the event of the appointment of a conservator or receiver for the other party
or upon the happening of a like event to the other party at the direction of an appropriate agency or court of competent jurisdiction,
or (iii) based upon the Trust’s determination that there is a reasonable basis to conclude that the Administrator is insolvent
or that the financial condition of the Administrator is deteriorating in any material respect.

 

Upon termination of this
Agreement pursuant to this Section with respect to the Trust, the Trust shall pay the Administrator its compensation due and shall
reimburse the Administrator for its costs, expenses and disbursements except, if termination is based on termination for a material
breach of this Agreement coupled with the Administrator’s failure to meet its standard of care under this Agreement, less
any losses or damages caused by such event.

 

Termination of this Agreement
with respect to any one particular Trust shall in no way affect the rights and duties under this Agreement with respect any other
Trust.

 

As soon as reasonably practicable
following the termination or expiration of this Agreement, the Administrator agrees to transfer such records and related supporting
documentation as are held by it under this Agreement to any replacement provider of the services or to such other person as the
Trust may direct. If directed by the Trust, the Administrator will provide the services hereunder until a replacement administrator
is in place, for a reasonable period of time up to nine (9) months, subject to the terms of this Agreement, including compensation.
The Administrator will also provide reasonable assistance to its successor, for such transfer, subject to the payment of such reasonable
expenses and charges as the Administrator customarily charges for such assistance.

 

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		13.	Notices

 

All notices, requests,
claims, demands and other communications required or permitted to be given under this agreement shall be in writing and shall be
delivered by hand or sent by an internationally recognized overnight courier service with signature required for delivery, by facsimile
where a confirmation of receipt is obtained, provided, however, that if sent by facsimile the written communication must also
be sent by next business day delivery via an internationally recognized overnight courier service with signature required
for delivery, or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties hereto at
the following addresses:

 

If to the Trust:

WisdomTree Commodity Pools

245 Park Ave, 35th Floor

New York, NY 10167

Attn: Legal Department

Facsimile: 917-267-3851

 

If to the Administrator:

State Street Bank and Trust Company

P.O. Box 5049

Boston, MA 02206-5049

Attn: US Investor Services Legal Team,
Senior Managing Counsel

Facsimile: 617-662-2702

 

All such communications so addressed shall
be deemed given (i) when delivered, if delivered personally to the intended recipient, or if sent by an internationally recognized
courier service with signature required for delivery, or if sent by facsimile and a confirmation of receipt is obtained, and the written
communication has also be sent for next business day delivery via a internationally recognized courier service with signature
required for delivery (ii) three business days after being mailed if sent by certified or registered mail, postage prepaid,
return receipt requested, or upon delivery if actual delivery occurs earlier.

 

		14.	Amendment

 

This Agreement may be amended
by a written agreement executed by both parties.

 

		15.	Assignment

 

This Agreement may not
be assigned by (a) the Trust without the written consent of the Administrator or (b) by the Administrator without the written consent
of the Trust, except that the Administrator may assign this Agreement to a successor of all or a substantial portion of its business,
or to a party controlling, controlled by or under common control with the Administrator.

 

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		16.	Successors

 

This Agreement shall be
binding on and shall inure to the benefit of the Trust and the Administrator and their respective successors and permitted assigns.

 

		17.	Data Protection

 

The
Administrator shall implement and maintain a comprehensive written information security program that contains appropriate security
measures to safeguard the personal information of the Trust’s shareholders, employees, directors and/or officers that the
Administrator receives, stores, maintains, processes or otherwise accesses in connection with the provision of services hereunder.
For these purposes, “personal information” shall mean (i)
an individual’s name (first initial and last name or first name and last name), address or telephone number plus (a)
social security number, (b) driver’s license number, (c) state identification card number, (d) debit or credit card number,
(e) financial account number or (f) personal identification number or password that would permit access to a person’s account
or (ii) any combination of the foregoing that would allow a person to log onto or access an individual’s account. Notwithstanding
the foregoing “personal information” shall not include information that is lawfully obtained from publicly available
information, or from federal, state or local government records lawfully made available to the general public.

 

		18.	Additional Trusts

 

In the event that any trust
in addition to those listed on Schedule A hereto desires to have the Administrator render services as administrator under
the terms hereof, it shall so notify the Administrator in writing, and if the Administrator agrees in writing to provide such services,
which shall not be unreasonably withheld, trust shall become a Trust hereunder and be bound by all terms and conditions and provisions
hereof.

 

		19.	Entire Agreement

 

This Agreement contains
the entire understanding between the parties hereto with respect to the subject matter hereof and supersedes all previous representations,
warranties or commitments regarding the services to be performed hereunder whether oral or in writing.

 

		20.	Waiver

 

The failure of a party
to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver nor shall it deprive
such party of the right thereafter to insist upon strict adherence to that term or any term of this Agreement. Any waiver must
be in writing signed by the waiving party.

 

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		21.	Severability

 

If any provision of this
Agreement is invalid or unenforceable, the balance of the Agreement shall remain in effect, and if any provision is inapplicable
to any person or circumstance it shall nevertheless remain applicable to all other persons and circumstances.

 

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

 

		22.	Governing Law

 

This Agreement shall be
construed and the provisions thereof interpreted under and in accordance with the laws of the state of New York.

 

		23.	Reproduction
of Documents

 

This Agreement and all
schedules, exhibits, attachments and amendments hereto may be reproduced by any photographic, xerographic, photostatic, microfilm,
micro-card, miniature photographic or other similar process. The parties hereto all/each agree that any such reproduction shall
be admissible in evidence as the original itself in any judicial or administrative proceeding, whether or not the original is in
existence and whether or not such reproduction was made by a party in the regular course of business, and that any enlargement,
facsimile or further reproduction of such reproduction shall likewise be admissible in evidence.

 

		24.	Counterparts

 

This Agreement may be executed
by the parties hereto on any number of counterparts, and all of said counterparts taken together shall be deemed to constitute
one and the same instrument.

 

		25.	Limitation of
Liability of the Trustees and Shareholders

 

This Agreement is executed
by the Sponsor on behalf of the Trust and the obligations hereunder are not binding upon any of the directors/trustees, officers
or shareholders of the Trust (or its Sponsor) individually. Notwithstanding any other provision in this Agreement to the contrary,
each and every obligation, liability or undertaking of the Trust under this Agreement shall constitute solely an obligation, liability
or undertaking of, and be binding upon, the Trust and shall be payable solely from the available assets of such Trust and shall
not be binding upon or affect any assets of any other Trust (or its Sponsor).

 

		26.	SSAE 16 Reports

 

The Administrator will
furnish to the Trust, on a semi-annual basis, a report in accordance with Statements on Standards for Attestation Engagements No.
16 (the “SSAE Report”) as well as such other reports and information relating to the Administrator’s policies

 

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and procedures and its compliance with such
policies and procedures and with the laws applicable to its business and its services, as the parties may mutually agree upon.

 

		27.	Cooperation with
Accountants

 

The Administrator shall
cooperate with the Trust’s independent public accountants and shall take all reasonable actions in the performance of its
obligations under this Agreement to provide such information, as may be reasonably requested by the Trust from time to time, to
such accountants for the expression of their opinion.

 

		28.	Insurance

 

The Administrator shall
at all times during the term of this Agreement maintain, at its cost, insurance coverage regarding its business in such amount
and scope as it deems adequate in connection with the services provided by the Administrator under this Agreement.  Upon the
Trust’s reasonable request, which in no event shall be more than once annually, the Administrator shall furnish to the Trust
a summary of the Administrator’s applicable insurance coverage.

 

[Remainder of page intentionally left blank.]

 

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IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be executed by their officers designated below as of the date first written above.

 

Each Commodity pool entity

Identified on Schedule
A Hereto

 

by its managing owner
and/or Sponsor

 

	By:	 	 
	Name:	Gregory Barton	 
	Title:	President	 

 

STATE STREET BANK AND TRUST COMPANY

 

	By:	 	 
	Name:	Gunjan Kedia	 
	Title:	Executive Vice President	 

 

Administration Agreement

 

     

     

    

 

ADMINISTRATION AGREEMENT

 

SCHEDULE A

Listing of Trust(s)

 

WisdomTree Continuous Commodity Index Fund (f/k/a
GreenHaven Continuous Commodity Index Fund) and its master fund

 

WisdomTree Coal Fund (f/k/a GreenHaven Coal
Fund)

 

    

     

    

 

ADMINISTRATION
AGREEMENT

 

Schedule
B

 

LIST OF
SERVICES

 

		I.	Fund Administration Treasury Services as described in Schedule B1 attached hereto;

 

		II.	[Reserved]; and

 

		III.	Fund Administration Legal Services as described in Schedule B3 attached hereto.

 

     

     

    

 

Schedule
B1

 

Fund Administration Treasury Services

 

		a.	Prepare for the review by designated officer(s) of the Sponsor on behalf of each Trust, financial
information regarding each Trust that will be included in each Trust's quarterly and annual reports on Form 10-Q and 10-K, respectively,
such reports to be prepared and filed by the Sponsor or designee;

 

		b.	Coordinate the audit of each Trust's annual financial statements by each Trust's independent accountants
to be included in each Trust's Form 10-K, including the preparation of supporting audit work papers and other schedules;

 

		c.	Prepare for the review by designated officer(s) of the Sponsor on behalf of each Trust, monthly
Account Statements required pursuant to Rule 4.22(a) of the Commodity Exchange Act;

 

		d.	Prepare such other reports, forms or filings as may be mutually agreed upon;

 

		e.	Prepare for the review by designated officer(s) of the Sponsor on behalf of each Trust, annual
expense budgets, perform accrual analyses and recommend changes to expense accruals on a periodic basis, arrange for payment of
each Trust's expenses, review calculations of fees paid to each Trust's Sponsor, custodian, accounting agent, distributor and transfer
agent, and obtain authorization of accrual changes and expense payments;

 

		f.	Provide periodic testing of each Trust with respect to compliance with limitations for each Trust
contained in the Registration Statement, as may be mutually agreed upon;

 

		g.	Prepare and furnish total return performance information for each Trust, calculated in accordance
with applicable U.S. securities and commodities laws and regulations, as may be reasonably requested by designated officer(s) of
the Sponsor on behalf of such Trust;

 

		h.	Provide sub-certificates in connection with the certification requirements of the Sarbanes-Oxley
Act of 2002 with respect to the services provided by the Administrator; and

 

    B1-1 

     

    

 

SCHEDULE B3

 

Fund Administration Legal Services

 

Subject to the authorization and direction
of the Sponsor or Sponsor, and, in each case where appropriate, the review and comment by such Sponsor’s or Sponsor’s
independent accountants and legal counsel and in accordance with procedures which may be established from time to time between
such Sponsor or Sponsor:

 

		a.	State Street will assist in an administrative capacity only with the preparation, coordination,
proofreading and filing of any amendments and/or updates to the Registration Statements (including S-1, S-3, 424(b)(3) and Free
Writing Prospectus (FWP) filings) and proxy statements. This includes distributing drafts, incorporating data and comments received
by outside parties and proofreading the same, as well as assistance with the filing of such documents and coordinating the EDGAR
conversion with outside printers. In acting solely in an administrative capacity, State Street will not make determinations with
respect to the suitability of any documents for which it will provide assistance, including with respect to legal and regulatory
requirements governing any such filings, or otherwise act in a discretionary capacity.

 

    B3-1EX-10.1

 Exhibit 10.1 

Mr. Richard L. Markee 
 c/o Vitamin Shoppe, Inc. 

300 Harmon Meadow Blvd. 
 Secaucus, New Jersey 07094 

Dear Rick: 
 Reference is made to the Employment
and Non-Competition Agreement (the “Agreement”) dated January 1, 2015, as amended, between you and Vitamin Shoppe, Inc. (the “Parent”) and Vitamin Shoppe Industries Inc. (the “Company”).
Capitalized terms used herein without definition have the meanings specified in the Agreement. The purpose of this letter is to notify you that your employment will end, upon expiration of the Agreement, by its terms, on January 4, 2016, and
you will at that time serve as Non-Executive Chairman of the Board of Directors of the Parent. The termination of your employment is intended as a separation of service for purposes of Section 409A of the Internal Revenue Code of 1986, as
amended. 
 Accordingly, the following describes the payments and benefits that the Parent and the Company are offering you subject to your
execution of the release (without revocation) attached hereto as Exhibit A and your continued compliance with the covenants contained in Sections 7, 8 and 9 of the Agreement (which remain in full force and effect): 

(i) Payment of your Base Salary through January 4, 2016 and payment for accrued but not taken vacation in accordance with the
Company’s payroll practices. 
 (ii) Payment of your Annual Cash Bonus as determined in accordance with Section 2(B) of the
Agreement, payable at the time specified in Section 2(B). 
 (iii) In the event you elect COBRA and for so long as you are eligible for
COBRA, the Company will make payments (“COBRA Payments”) to you (subject to tax withholdings) equal to that portion of your COBRA premium for you (and your covered dependents) that is in excess over the same rate as paid by
similarly situated employees for non-COBRA coverage. The COBRA Payments will be payable in accordance with Section 5(J)(iii) of the Agreement; as contemplated by such provision, the first six months of COBRA Payments shall be paid to you on the
first payroll date following six months from the Separation Date. 
 Following expiration of your eligibility for COBRA coverage and until
you and your spouse are eligible for coverage under Medicare, the Company will arrange to provide you with medical insurance benefits substantially similar to those provided to executive officers of the Company. You will be responsible for paying
the full cost of the premium for such medical insurance policy, and the Company will reimburse you for the amount paid by you in excess of the amount that would be paid by an executive officer of the Company for substantially similar benefits (the
“Post-COBRA Payments”). The Post-COBRA Payments will be treated as a bonus, subject to applicable withholding taxes, and paid on a monthly basis within thirty days following the end of the applicable month. 

 In the event that applicable law prevents, or imposes a tax liability (in addition to the tax
withholdings referenced above) or penalty in connection with, the provision of COBRA Payments and the Post-COBRA Payments, you and the Company agree to revisit the issue and discuss resolution, with the intent that the resolution would be consistent
with the Company’s commitment to you to assist you and your spouse with the cost of medical coverage post-employment and pending Medicare eligibility. Except as modified herein, the terms and conditions of Section 5(J) remain in full force
and effect. 
 (iv) So long as you remain a member of the Board of Directors of Parent, you shall continue to vest in all equity awards
previously granted to you; provided, however, that the vesting of the restricted stock that is scheduled to vest on January 2, 2017 shall be accelerated to the date on which the Parent’s annual meeting of stockholders occurs so long as you
remain a director through such date. 
 (v) You shall receive under separate cover information about the compensation that you will receive
for your service as Non-Executive Chairman of the Board. 
 Sincerely, 

 

									
	VITAMIN SHOPPE, INC.	 		 	

									
				
	By:	 	 /s/ David Kastin
	 		 	 December 31, 2015

	Name:	 	David Kastin	 		 	Date	 	
	Title:	 	Senior Vice President-General Counsel	 		 		 	

									
				
	VITAMIN SHOPPE INDUSTRIES, INC.	 		 		 	

									
				
	By:	 	 /s/ David Kastin
	 		 	 December 31, 2015

	Name:	 	David Kastin	 		 	Date	 	
	Title:	 	Senior Vice President-General Counsel	 		 		 	

  

					
	Agreed and Acknowledged:	 		 	
			
	 /s/ Richard L. Markee
	 		 	 December 31, 2015

	Richard L. Markee	 		 	Date

  
 2 

 Exhibit A 

RELEASE AGREEMENT 
 1.
Release. (a) In consideration of the obligations contained in the letter dated December     , 2015 to which this Release is attached (the “December 2015 Letter”) and for other valuable consideration,
Richard Markee (“you”), for yourself, your heirs, dependents, legal representatives, executors, administrators and assigns), hereby release and forever discharge Vitamin Shoppe Industries Inc. (the “Company”) and
Vitamin Shoppe, Inc. (the “Parent”) and their respective subsidiaries, affiliates and divisions, and each of their respective directors, officers, employees, shareholders, agents, administrators, trustees, employee benefit plans and
assigns (in their official and individual capacities) (collectively, the “Released Parties”) from any and all claims, liabilities, causes of action, demands or rights of any kind (including without limitation for general, special or
punitive damages, attorneys’ fees and expenses, and other compensation and/or equitable remedy), known or unknown, fixed or contingent, which have arisen at any time up to and including the date of execution of this Release arising during or in
any manner out of your employment and the termination of your employment with the Company or your service as a Director of the Company and Parent (the “Claims”). 

Without limiting the generality of the foregoing, this Release is intended and shall release all Claims, including, but are not limited to,
those that concern, relate to, or might arise out of the following: salary, overtime, bonuses, employee benefits, expenses, equity, severance, retirement or other benefits; breach of express or implied contract or promise; tort, harassment,
intentional injury or intentional tort, fraud, misrepresentation, battery, assault, defamation, breach of fiduciary duty, public policy claims, whistleblower claims, negligence (including negligent hiring, retention and/or supervision), wrongful or
retaliatory discharge, infliction of emotional injury, or any other facts or claims; the Age Discrimination in Employment Act (ADEA) (29 U.S.C. §621, et seq.); Title VII of the Civil Rights Act of 1964 (42 U.S.C. §2000e, et seq.); ERISA
(the Employee Retirement Income Security Act of 1974 (29 U.S.C. §1001, et seq.) other than any vested ERISA benefit; the federal WARN Act and similar state mini-WARN Acts; the American with Disabilities Act (42 U.S.C. §12101, et seq.); the
National Labor Relations Act and the Labor Management Relations Act, 29 U.S.C. §141 et seq.; the Family and Medical Leave Act (29 U.S.C. §2601, et seq.); the United States Constitution; the Civil Rights Act of 1991; the Civil Rights Acts
of 1866 or 1871 (42 U.S.C. §§1981,1983,1985, et seq.); retaliation under any federal, state, or local law; any claims for costs or attorney fees; the fair employment practices (FEP) laws and employment-related laws of any federal, state,
or local jurisdiction (including the New Jersey Law Against Discrimination, New Jersey Conscientious Employee Protection Act, New Jersey Family Leave Act, New Jersey Paid Family Leave Law, New Jersey Equal Pay Act, New Jersey Civil Rights Act, New
Jersey Administrative Code), and any other federal, state, city, county or other common law, law, or ordinance, including but not limited to those where you work and/or reside. 

(b) Notwithstanding the foregoing, the release and discharge set forth in Section 1(a) above shall not apply to (i) Claims for
payments and benefits to which you are entitled under the December 2015 Letter, (ii) your vested benefits under the Company’s employee benefit plans, 

  
 3 

 
including the 401(k) plan, (iii) the Company’s ongoing obligations under the equity agreements between you and the Company (as modified by the December 2015 Letter) and any Claims as a
stockholder, (iv) the Company’s obligations to indemnify you to the maximum extent permitted by the Company’s organizational documents and law and Section 13 of the Employment and Noncompetition Agreement referred to in the
December 2015 Letter, and (iv) any Claims that the law states may not be released. 
 (c) You agree that you have been paid and/or have
received all compensation, wages, bonuses, benefits and/or leave (paid or unpaid), that are due to you and that no other compensation, wages, bonuses, benefits, expenses, fees and/or leave (paid or unpaid) are due to you, except as provided in the
December 2015 Letter. You further represent that you have no known workplace injuries or occupational diseases and have been provided and/or have not been denied any leave requested under the Family and Medical Leave Act or similar law and have been
provided and/or have not been denied any reasonable accommodations under the Americans with Disabilities Act or similar law. 
 (d) You
represent and agree that you have not filed, or caused to be filed, any lawsuits or complaints against any Released Party, including with any municipal, state or federal agency charged with the enforcement of any law. Pursuant to and as a part of
your release and discharge of the Released Parties, you agree, to the extent permitted by applicable law, not to sue any Released Party in any forum or assist or otherwise participate willingly or voluntarily in any lawsuit or claim, investigation
or other proceeding of any kind which relates to any matter that involves any Released Party, and that occurred up to and including the date of your execution of this Release, unless as required to do so by court order, subpoena or other directive
by a court, administrative agency or legislative body, other than to enforce the Agreement. This section is not intended to affect your right to file a charge with and/or participate in an investigation or proceeding conducted by a governmental
administrative agency (including without limitation the Equal Employment Opportunity Commission, National Labor Relations Board, Securities and Exchange Commission, or other federal, state or local governmental agency charged with the enforcement of
any laws), although you agree that you are hereby waiving any right to receive money or any other relief in any action instituted on your behalf by any other person, entity or government agency. 

(e) If you breach your promises set forth in this Section 1 and file a complaint or lawsuit based on what you released (which does not
include the claims set forth in Section 1(b)), you agree to pay for all liabilities and costs incurred by the Released Parties, including reasonable attorney’s fees and costs, in defending against any such action to the extent permitted by
law. In addition, the Company’s obligations to make the payments and provide the benefits under the December 2015 Letter shall cease and the Company will be entitled to seek monetary damages, injunctive relief or any other available legal
remedies. 
 2. Acceptance. You shall have twenty-one (21) days from the date you receive this Release to consider the terms of
this Release. In order to receive the benefits and payments provided for by the December 2015 Letter, you must execute this Release and return it to the Company addressed to the General Counsel, at 300 Harmon Meadow Boulevard, Secaucus, NJ 07094, so
that it is received any time on or before the expiration of the 21-day period. After executing this Release, you shall have seven (7) days (the “Revocation Period”) to revoke it by

  
 4 

 
indicating your desire to do so in writing addressed to and received by the General Counsel no later than the seventh (7th) day following
the date you executed the Release. In the event you do not sign this Release, or in the event you revoke this Release during the Revocation Period, the obligations of the Company to make the payments and provide the benefits set forth in the
December 2015 Letter shall automatically be deemed null and void. 
 3. Voluntary Assent. You affirm that you have read this Release
and understand all of its terms. You further acknowledge that you have voluntarily entered into this Release; that you have not relied upon any representation or statement, written or oral, not set forth in the Release or Agreement; that the only
consideration for signing this Release is as set forth in the Agreement; that the consideration received for executing this Release is greater than that to which you may otherwise be entitled; and that this document gives you the opportunity and
encourages you to have this Release reviewed by your attorney and/or tax advisor. You also acknowledge that you have been given up to twenty-one (21) days to consider this Release and that you understand that you have seven (7) days after
executing it to revoke it in writing, and that, to be effective, such written revocation must be received by the Company within the seven (7) day Revocation Period. 
  

					
		 	Agreed and Accepted:
		
	         
	 	  

		 	Richard Markee

					
			
	        	 	Dated:	 	  

  
 5

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