Document:

EX-4.3

 Exhibit 4.3 

SUPERIOR INDUSTRIES INTERNATIONAL, INC. 

2019 INDUCEMENT GRANT PLAN 

SECTION 1 
 BACKGROUND
AND PURPOSE 
  

	1.1	 Background. The Plan permits the grant of Restricted Stock, Restricted Stock Units and Performance
Awards. 

  

	1.2	 Purpose of the Plan. The purpose of the Plan is to provide Awards as an inducement material to Majdi B.
Abulaban (the “Participant”) entering into employment with the Company and its Affiliates, and to encourage stock ownership by the Participant, thereby aligning his interests with those of the Company’s shareholders. The Plan is
intended to comply with Section 303A.08 of the New York Stock Exchange (“NYSE”) Listed Company Manual, which provides an exception to the NYSE stockholder approval requirement for the issuance of securities with regard to grants to
the Participant as an inducement material to the Participant entering into employment with the Company and its Affiliates. 

SECTION 2 
 DEFINITIONS

 The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 

 

	2.1	 “1934 Act” means the Securities Exchange Act of 1934, as amended. Reference to a specific section of
the Act shall include such section, any valid rules or regulations promulgated under such section, and any comparable provisions of any future legislation, rules or regulations amending, supplementing or superseding any such section, rule or
regulation. 

  

	2.2	 “Administrator” means, collectively, (i) the Board or (ii) a committee of the Board
designated in accordance with Section 4.1. 

  

	2.3	 “Affiliate” means any corporation or any other entity (including, but not limited to, Subsidiaries,
partnerships and joint ventures) controlling, controlled by, or under common control with the Company. 

  

	2.4	 “Applicable Law” means the legal requirements relating to the administration of an Award issued
pursuant to the Plan and similar incentive plans under any applicable laws, including but not limited to federal and state employment, labor, privacy and securities laws, the Code, and applicable rules and regulations promulgated by any stock
exchange or quotation system upon which the Shares may then be listed or quoted. 

  

	2.5	 “Award” means, individually or collectively, a grant under the Plan of Restricted Stock, Restricted
Stock Units and Performance Awards. 

  

	2.6	 “Award Agreement” means the written agreement or program document between the Company and the
Participant setting forth the terms and provisions applicable to each Award granted under the Plan, including the Grant Date. 

  

	2.7	 “Board” or “Board of Directors” means the Board of Directors of the Company.

  

	2.8	 “Cause” shall have the meaning assigned to such term in the Employment Agreement.

  

	2.9	 “Change in Control” means the occurrence of any of the following: 

 

	 	a)	 Any “person” (as such term is used in Sections 13(d) and 14(d) of the 1934 Act) becomes the
“beneficial owner” (as defined in Rule 13d-3 of the 1934 Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by
the Company’s then outstanding voting securities; 

  
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	 	b)	 The following individuals cease for any reason to constitute a majority of the number of Directors then serving
on the Board: individuals who, during any period of two (2) consecutive years, constitute the Board and any new Director (other than a Director whose initial assumption of office is in connection with an actual or threatened election contest,
including, but not limited to, a consent solicitation, relating to the election of Directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s stockholders was approved or recommended by a
vote of at least two-thirds (2/3) of the Directors then still in office who either were Directors at the beginning of the two (2) year period or whose appointment, election or nomination for election was
previously so approved or recommended; 

  

	 	c)	 The consummation of the sale or disposition by the Company of all or substantially all of the Company’s
assets; or 

  

	 	d)	 The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its
parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation. 

 

	2.10	 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a specific section of the
Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or
regulation. 

  

	2.11	 “Committee” means any committee of the Board designated to administer the Plan in accordance with
Section 4.1. 

  

	2.12	 “Company” means Superior Industries International, Inc., or any successor thereto.

  

	2.13	 “Consultant” means any consultant, independent contractor or other person who provides significant
services (other than capital-raising activities) to the Company or its Affiliates or any employee or affiliate of any of the foregoing, but who is neither an Employee nor a Director. 

 

	2.14	 “Continuous Service” means that the Participant’s employment or service relationship with the
Company or any Affiliate is not interrupted or terminated. Continuous Service shall not be considered interrupted in the following cases: (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company
or between the Company and any Subsidiary or successor. A leave of absence approved by the Company shall include sick leave, military leave or any other personal leave approved by an authorized representative of the Company. In the event the
Participant’s status changes among the positions of Employee, Director and Consultant, the Participant’s Continuous Service shall not be considered terminated solely as a result of any such changes in status. Whether military, government
or other service or other leave of absence shall constitute a termination of Continuous Service shall be determined in each case by the Administrator at its discretion, and any determination by the Administrator shall be final and conclusive;
provided, however, that for purposes of any Award that is subject to Section 409A of the Code, the determination of a leave of absence must comply with the requirements of a “bona fide leave of absence” as provided in Treasury
Regulations Section 1.409A-1(h). 

  

	2.15	 “Director” means any individual who is a member of the Board of Directors of the Company or an
Affiliate of the Company. 

  

	2.16	 “Disability” shall have the meaning assigned to such term in the Employment Agreement.

  

	2.17	 “Employee” means any current or prospective common-law
employee of the Company or an Affiliate. 

  
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	2.18	 “Employment Agreement” means that certain Executive Employment Agreement, dated March 21, 2019,
by and between the Company and the Participant. 

  

	2.19	 “Fair Market Value” means with respect to a Share, as of any date, the closing sales price reported
for such Share as of such date, provided the Shares are listed on an established stock exchange or a national market system, including without limitation the NYSE. If no sales were reported on such date, the Fair Market Value of a Share shall be the
closing price for such Share as quoted on the NYSE (or the exchange with the greatest volume of trading in the Shares) on the last market trading day with reported sales prior to the date of determination. In the case where the Company is not listed
on an established stock exchange or national market system, Fair Market Value shall be determined by the Board in good faith in accordance with Code Section 409A and the applicable Treasury regulations. 

 

	2.20	 “Good Reason” shall have the meaning assigned to such term in the Employment Agreement.

  

	2.21	 “Grant Date” means the first date on which all necessary corporate action has been taken to approve
the grant of the Award as provided in the Plan, or such later date as is determined and specified as part of that authorization process. Notice of the grant shall be provided to the grantee within a reasonable time after the Grant Date.

  

	2.22	 “Independent Director” means a Nonemployee Director who is (i) a “nonemployee
director” within the meaning of Rule 16b-3 of the 1934 Act and (ii) “independent” as determined under the applicable rules of the NYSE, as any of these definitions may be modified or
supplemented from time to time. 

  

	2.23	 “Nonemployee Director” means a Director who is not employed by the Company or an Affiliate.

  

	2.24	 “Performance Award” means an Award granted to the Participant pursuant to Section 8 of the Plan,
the vesting of which is contingent on the satisfaction of specified performance conditions. 

  

	2.25	 “Period of Restriction” means the period during which the transfer of Shares underlying Awards of
Restricted Stock or Restricted Stock Units are subject to restrictions that subject the Shares to a substantial risk of forfeiture. 

  

	2.26	 “Plan” means this Superior Industries International, Inc. 2019 Inducement Grant Plan, as set forth in
this instrument and as hereafter amended from time to time. 

  

	2.27	 “Restricted Stock” means an Award granted to the Participant pursuant to Section 7 of the Plan.
An Award of Restricted Stock constitutes a transfer of ownership of Shares to the Participant from the Company subject to restrictions against transferability, assignment, and hypothecation. Under the terms of the Award, the restrictions against
transferability are removed when the Participant has met the specified vesting requirement. 

  

	2.28	 “Restricted Stock Unit” means an Award granted to the Participant pursuant to Section 7 of the
Plan. An Award of Restricted Stock Units constitutes the right to receive Shares (or the equivalent value in cash or other property if the Administrator so provides) in the future, which right is subject to certain restrictions and to risk of
forfeiture. 

  

	2.29	 “SEC” means the U.S. Securities and Exchange Commission. 

 

	2.30	 “Shares” means shares of common stock of the Company. 

 

	2.31	 “Subsidiary” means any corporation in an unbroken chain of corporations beginning with the Company if
each of the corporations other than the last corporation in the unbroken chain then owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

  
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 SECTION 3 

EFFECTIVE DATE AND TERM 
  

	3.1	 Effective Date; Term. The Plan was approved by the Board effective as of May 15, 2019 (the
“Effective Date”), and, unless earlier terminated as provided herein, the Plan will continue in effect until, and automatically terminate after, the Shares available for grant in Section 5.1 have been granted to the Participant. The
termination of the Plan on such date shall not affect the validity of any Award outstanding on the date of termination, which shall continue to be governed by the applicable terms and conditions of the Plan. 

SECTION 4 

ADMINISTRATION 
  

	4.1	 The Administrator. The Plan shall be administered by a Committee of the Board appointed by the Board
(which Committee shall consist of at least two Directors) or, at the discretion of the Board from time to time, the Plan may be administered by the Board. It is intended that at least two of the Directors appointed to serve on the Committee shall be
Independent Directors and that any such members of the Committee who do not so qualify shall abstain from participating in any decision to make or administer Awards that are made to the Participant at the time of consideration for such Award.
However, the mere fact that a Committee member shall fail to qualify as an Independent Director or shall fail to abstain from such action shall not invalidate any Award made by the Committee which Award is otherwise validly made under the Plan. The
members of the Committee shall be appointed by, and may be changed at any time and from time to time in the discretion of, the Board. Unless and until changed by the Board, the Compensation and Benefits Committee of the Board is designated as the
Administrator to administer the Plan. The Board may reserve to itself any or all of the authority and responsibility of the Committee under the Plan or may act as administrator of the Plan for any and all purposes. 

 

	4.2	 Action and Interpretation by the Administrator. For purposes of administering the Plan, the
Administrator may from time to time adopt rules, regulations, guidelines and procedures for carrying out the provisions and purposes of the Plan and make such other determinations, not inconsistent with the Plan, as the Administrator may deem
appropriate. The Administrator may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the manner and to the extent it deems necessary to carry out the intent of the Plan. The Administrator’s
interpretation of the Plan, any Awards granted under the Plan, any Award Agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all persons and shall be given the maximum
deference permitted by Applicable Law. Each member of the Administrator is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Affiliate, the
Company’s or an Affiliate’s independent certified public accountants, Company counsel or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. No member of the
Administrator will be liable for any good faith determination, act or omission in connection with the Plan or any Award. 

  

	4.3	 Authority of the Administrator. It shall be the duty of the Administrator to administer the Plan in
accordance with the Plan’s provisions and in accordance with Applicable Law. The Administrator shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the
power to: (a) determine the vesting conditions, if any, applicable to Awards and the circumstances under which vesting conditions may be modified, (b) determine the other terms and conditions of the Awards, (c) interpret the Plan,
(d) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, (e) interpret, amend or revoke any such rules, and (f) adopt such modifications, procedures, and subplans as may be
necessary or desirable to comply with provisions of the laws of the United States or any non-U.S. jurisdictions in which the Company or any Affiliate may operate, in order to assure the viability of the
benefits of Awards granted to participants located in the United States or such other jurisdictions and to further the objectives of the Plan. 

  
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 SECTION 5 

SHARES SUBJECT TO THE PLAN 
  

	5.1	 Number of Shares. Subject to adjustment as provided in Section 5.3, the total number of Shares
available for grant under the Plan shall be 2,458,747 Shares. Shares granted under the Plan may be authorized but unissued Shares or reacquired Shares bought on the market or otherwise. 

 

	5.2	 Share Counting. Shares covered by an Award shall be subtracted from the Plan share reserve as of the
Grant Date based on the number of Shares covered by such Award, including at the maximum amount for Performance Awards. Any Shares subject to an Award under the Plan that, after the Effective Date, are forfeited, canceled, settled, withheld to cover
taxes, or otherwise terminated without a distribution of Shares to the Participant will not thereafter be deemed to be available for issuance under the Plan. 

 

	5.3	 Adjustments in Awards and Authorized Shares. The number and kind of shares authorized for grant under
the Plan in Section 5.1 and the number and kind of shares covered by each outstanding Award shall be proportionately adjusted for any increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split,
recapitalization, combination, reclassification, spin-off, stock dividend on the Shares, or any other increase or decrease in the number of such Shares effected without receipt of consideration by the Company;
provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” The Administrator shall make such adjustments to the Plan and Awards as it deems
necessary, in its sole discretion, to prevent dilution or enlargement of rights immediately resulting from such transaction, and the decisions of the Administrator in that respect shall be final, binding and conclusive. 

SECTION 6 
 ELIGIBILITY

  

	6.1	 General. Awards may be granted only to the Participant on or promptly following the Effective Date. Once
the Shares in Section 5.1 have been granted to the Participant pursuant to Awards under the Plan, no future Awards may be made under the Plan. 

SECTION 7 
 RESTRICTED
STOCK OR RESTRICTED STOCK UNITS 
  

	7.1	 Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator may grant
Shares of Restricted Stock or Restricted Stock Units to the Participant in such amounts as the Administrator, in its discretion, shall determine. 

  

	7.2	 Award Agreement. An Award of Restricted Stock or Restricted Stock Units shall be evidenced by an Award
Agreement setting forth the terms, conditions, and restrictions applicable to the Award, as the Administrator, in its discretion, shall determine. Unless the Administrator determines otherwise, Shares of Restricted Stock shall be held by the Company
as escrow agent until the restrictions on such Shares have lapsed. 

  

	7.3	 Transferability. Except as provided in this Section 7, Shares of Restricted Stock or Awards of
Restricted Stock Units may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until expiration of the applicable Period of Restriction. 

 

	7.4	 Other Restrictions. Restricted Stock and Restricted Stock Units shall be subject to such other
restrictions as the Administrator may impose. These restrictions may lapse separately or in combination at such times, under such circumstances, in such installments, upon the satisfaction of performance goals or otherwise, as the Administrator
determines at the time of the grant of the Award or thereafter. 

  

	7.5	 Legend on Certificates. The Administrator, in its discretion, may place a legend or legends on the
certificates representing Restricted Stock to give appropriate notice of such restrictions. 

  
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	7.6	 Removal of Restrictions. Except as otherwise provided in this Section 7, Shares of Restricted Stock
covered by each Restricted Stock grant made under the Plan shall be released from escrow as soon as practicable after expiration of the Period of Restriction. After the restrictions have lapsed, the Participant shall be entitled to have any legend
or legends under Section 7.5 removed from his Share certificate, and the Shares shall be freely transferable by the Participant, subject to Applicable Law. 

 

	7.7	 Voting Rights. During the Period of Restriction, the Participant, to the extent holding Shares of
Restricted Stock granted hereunder, may exercise full voting rights with respect to those Shares, unless otherwise provided in the Award Agreement. Except as otherwise provided in an Award Agreement, the Participant shall have none of the rights of
a shareholder with respect to Restricted Stock Units until such time as Shares are paid in settlement of such Awards. 

  

	7.8	 Dividends and Other Distributions. Unless otherwise provided by the Administrator in an Award Agreement,
Participants holding Shares of Restricted Stock shall be entitled to receive all dividends and other distributions declared with respect to such Shares during the Period of Restriction; provided, that such dividends and other distributions shall be
accumulated and paid to the Participants at such time as the restrictions applicable to the Shares of Restricted Stock lapse. 

  

	7.9	 Return of Restricted Stock to Company. On the date that any forfeiture event set forth in the Award
Agreement occurs, the Restricted Stock or Restricted Stock Units for which restrictions have not lapsed shall revert to the Company and again shall become available for grant under the Plan. 

SECTION 8 
 PERFORMANCE
AWARDS 
  

	8.1	 Grant of Performance Awards. The Administrator is authorized to grant any Award under this Plan,
including Restricted Stock or Restricted Stock Units with performance-based vesting criteria, on such terms and conditions as may be selected by the Administrator. Any such Awards with performance-based vesting criteria are referred to herein as
Performance Awards. The Administrator shall have the complete discretion to determine the number of Performance Awards granted to each Participant and to designate the provisions of such Performance Awards as provided in Section 8.2. All
Performance Awards shall be evidenced by an Award Agreement or a written program established by the Administrator, pursuant to which Performance Awards are awarded under the Plan under uniform terms, conditions and restrictions set forth in such
written program. 

  

	8.2	 Performance Goals. The Administrator may establish performance goals for Performance Awards which may be
based on any criteria selected by the Administrator. Such performance goals may be described in terms of Company-wide objectives or in terms of objectives that relate to the performance of the Participant, an Affiliate or a division, region,
department or function within the Company or an Affiliate. The time period during which the performance goals or other vesting provisions must be met will be called the “Performance Period.” If the Administrator determines that a change in
the business, operations, corporate structure or capital structure of the Company or the manner in which the Company or an Affiliate conducts its business, or other events or circumstances render performance goals to be unsuitable, the Administrator
may modify such performance goals in whole or in part, as the Administrator deems appropriate. If the Participant is promoted, demoted or transferred to a different business unit or function during a Performance Period, the Administrator may
determine that the performance goals or Performance Period are no longer appropriate and may (i) adjust, change or eliminate the performance goals or the applicable Performance Period as it deems appropriate to make such goals and period
comparable to the initial goals and period, or (ii) make a cash payment to the Participant in an amount determined by the Administrator. 

SECTION 9 
 MISCELLANEOUS

  

	9.1	 Change in Control. Unless otherwise provided in the Award Agreement, in the event of a Change in
Control, unless an Award is assumed or substituted by the successor corporation, then (i) all service-based restrictions and conditions on any Award then outstanding shall lapse as of the date of the Change in Control, and (ii)

  
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the payout level under all Performance Awards shall be deemed to have been earned as of the date of the Change in Control based upon an assumed achievement of all relevant performance goals at
the “target” level. If an Award is assumed or substituted by the successor corporation, then if within two (2) years after the effective date of the Change in Control, the Participant’s Continuous Service is terminated without
Cause or the Participant resigns for Good Reason, then as of the date of termination (i) all service-based vesting restrictions applicable to his outstanding Awards shall lapse, and (ii) the payout level under all of the Participant’s
Performance Awards that were outstanding immediately prior to effective time of the Change in Control shall be determined and deemed to have been earned as of the date of employment termination based upon an assumed achievement of all relevant
performance goals at the “target” level. 

  

	9.2	 Transfers Upon a Change in Control. In the sole and absolute discretion of the Administrator, an Award
Agreement may provide that in the event of certain Change in Control events, which may include any or all of the Change in Control events described in Section 2.9, Shares obtained pursuant to this Plan shall be subject to certain rights and
obligations, which include but are not limited to the following: (i) the obligation to vote all such Shares in favor of such Change in Control transaction, whether by vote at a meeting of the Company’s shareholders or by written consent of
such shareholders; (ii) the obligation to sell or exchange all such Shares and all rights to acquire Shares, under this Plan pursuant to the terms and conditions of such Change in Control transaction; (iii) the right to transfer less than
all but not all of such Shares pursuant to the terms and conditions of such Change in Control transaction, and (iv) the obligation to execute all documents and take any other action reasonably requested by the Company to facilitate the
consummation of such Change in Control transaction. 

  

	9.3	 No Effect on Employment or Service. Nothing in the Plan shall interfere with or limit in any way the
right of the Company or an Affiliate to terminate any Participant’s employment or service at any time, with or without Cause. Unless otherwise provided by written contract, employment or service with the Company or any of its Affiliates is on
an at-will basis only. 

  

	9.4	 Compensation Recoupment Policy. The Plan and all Awards issued hereunder shall be subject to any
compensation recovery and/or recoupment policy adopted by the Company to comply with Applicable Law, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act, or to comport with good corporate governance
practices, as such policies may be amended from time to time. 

  

	9.5	 Successors. All obligations of the Company under the Plan, with respect to Awards granted hereunder,
shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation or, otherwise, sale or disposition of all or substantially all of the business or assets
of the Company. 

  

	9.6	 Beneficiary Designations. If permitted by the Administrator, the Participant may name a beneficiary or
beneficiaries to whom any vested but unpaid Award shall be paid in the event of the Participant’s death. Each such designation shall revoke all prior designations by the Participant and shall be effective only if given in a form and manner
acceptable to the Administrator. In the absence of any such designation, any vested benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate. 

 

	9.7	 Limited Transferability of Awards. No Award granted under the Plan may be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. All rights with respect to an Award granted to the Participant shall be available during his lifetime only to the Participant.

  

	9.8	 Restrictions on Share Transferability. The Administrator may impose such restrictions on any Shares
acquired pursuant to the exercise of an Award as it may deem advisable, including, but not limited to, restrictions related to applicable federal securities laws, the requirements of any national securities exchange or system upon which Shares are
then listed or traded or any blue sky or state securities laws. 

  

	9.9	 Legal Compliance. Shares shall not be issued pursuant to the making of an Award unless the issuance and
delivery of Shares shall comply with the Securities Act of 1933, as amended, the 1934 Act and other Applicable Law, and shall be further subject to the approval of counsel for the Company with respect to such compliance. Any Award made in violation
hereof shall be null and void. 

  
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 SECTION 10 

SPECIAL PROVISIONS RELATED TO SECTION 409A OF THE CODE 
  

	10.1	 General. It is intended that the payments and benefits provided under the Plan and any Award shall
either be exempt from the application of, or comply with, the requirements of Section 409A of the Code. The Plan and all Award Agreements shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits
provided under the Plan or any Award is not warranted or guaranteed. Neither the Company, its Affiliates nor their respective directors, officers, employees or advisers (other than in his capacity as the Participant) shall be held liable for any
taxes, interest, penalties or other monetary amounts owed by the Participant or other taxpayer as a result of the Plan or any Award. 

  

	10.2	 Definitional Restrictions. Notwithstanding anything in the Plan or in any Award Agreement to the
contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code
(“Non-Exempt Deferred Compensation”) would otherwise be payable or distributable, or a different form of payment (e.g., lump sum or installment) of such
Non-Exempt Deferred Compensation would be effected, under the Plan or any Award Agreement by reason of the occurrence of a Change in Control, or the Participant’s Disability or separation from service,
such Non-Exempt Deferred Compensation will not be payable or distributable to the Participant, and/or such different form of payment will not be effected, by reason of such circumstance unless the
circumstances giving rise to such Change in Control, Disability or separation from service meet any description or definition of “change in control event”, “disability” or “separation from service”, as the case may be,
in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition). This provision does not affect the dollar amount or prohibit the vesting of any Award upon a
Change in Control, Disability or separation from service, however defined. If this provision prevents the payment or distribution of any amount or benefit, or the application of a different form of payment of any amount or benefit, such payment or
distribution shall be made at the time and in the form that would have otherwise applied absent the non-409A-conforming event. 

 

	10.3	 Allocation among Possible Exemptions. If any one or more Awards granted under the Plan to the
Participant could qualify for any separation pay exemption described in Treasury Regulations Section 1.409A-1(b)(9), but such Awards in the aggregate exceed the dollar limit permitted for the separation
pay exemptions, the Company (acting through the Administrator or the General Counsel) shall determine which Awards or portions thereof will be subject to such exemptions. 

 

	10.4	 Six-Month Delay in Certain Circumstances. Notwithstanding
anything in the Plan or in any Award Agreement to the contrary, if any amount or benefit that would constitute Non-Exempt Deferred Compensation would otherwise be payable or distributable under this Plan or
any Award Agreement by reason of the Participant’s separation from service during a period in which the Participant is a Specified Employee (as defined below), then, subject to any permissible acceleration of payment by the Administrator under
Treasury Regulations Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes): (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following the Participant’s separation from service will be
accumulated through and paid or provided on the first day of the seventh month following the Participant’s separation from service (or, if the Participant dies during such period, within 30 days after the Participant’s death) (in either
case, the “Required Delay Period”); and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period. For purposes of this Plan, the term
“Specified Employee” has the meaning given such term in Code Section 409A and the final regulations thereunder; provided, however, that, as permitted in such final regulations, the Company’s Specified Employees and its
application of the six-month delay rule of Code Section 409A(a)(2)(B)(i) shall be determined in accordance with rules adopted by the Board or any committee of the Board, which shall be applied
consistently with respect to all nonqualified deferred compensation arrangements of the Company, including this Plan. 

  
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	10.5	 Installment Payments. If, pursuant to an Award, the Participant is entitled to a series of installment
payments, the Participant’s right to the series of installment payments shall be treated as a right to a series of separate payments and not to a single payment. For purposes of the preceding sentence, the term “series of installment
payments” has the meaning provided in Treasury Regulations Section 1.409A-2(b)(2)(iii) (or any successor thereto). 

 

	10.6	 Timing of Release of Claims. Whenever an Award conditions a payment or benefit on the Participant’s
execution and non-revocation of a release of claims, such release must be executed and all revocation periods shall have expired within 60 days after the date of termination of the Participant’s
employment, failing which such payment or benefit shall be forfeited. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such
60-day period. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then, subject to Section 10.4, (i) if such
60-day period begins and ends in a single calendar year, the Company may make or commence payment at any time during such period at its discretion, and (ii) if such
60-day period begins in one calendar year and ends in the next calendar year, the payment shall be made or commence during the second such calendar year (or any later date specified for such payment under the
applicable Award), even if such signing and non-revocation of the release occur during the first such calendar year included within such 60-day period. In other words,
the Participant is not permitted to influence the calendar year of payment based on the timing of signing the release. 

  

	10.7	 Permitted Acceleration. The Company shall have the sole authority to make any accelerated distribution
permissible under Treasury Regulations section 1.409A-3(j)(4) to Participants of deferred amounts, provided that such distribution(s) meets the requirements of Treasury Regulations section 1.409A-3(j)(4). 

  

	10.8	 Timing of Distribution of Dividend Equivalents. Unless otherwise provided in the applicable Award
Agreement, any dividend equivalents granted with respect to an Award hereunder will be paid or distributed no later than the 15th day of the 3rd month following the later of (i) the calendar year in which the corresponding dividends were paid
to shareholders, or (ii) the first calendar year in which the Participant’s right to such dividends equivalents is no longer subject to a substantial risk of forfeiture. In addition, notwithstanding anything to the contrary in the Plan, in
no event shall dividends or dividend equivalents payable in connection with an Award granted under the Plan be paid earlier than at the time that the Award or applicable portion thereof becomes vested in accordance with the applicable Award
Agreement. 

 SECTION 11 

AMENDMENT, SUSPENSION, AND TERMINATION 
  

	11.1	 Amendment, Suspension, or Termination. The Board, in its sole discretion, may amend, suspend or
terminate the Plan, or any part thereof, at any time and for any reason. The amendment, suspension or termination of the Plan shall not, without the consent of the Participant, materially adversely alter or impair any rights or obligations under any
Award theretofore granted to such Participant. No Award may be granted during any period of suspension or after termination of the Plan. 

SECTION 12 
 TAX
WITHHOLDING 
  

	12.1	 Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award, the Company
shall have the power and the right to deduct or withhold, or require the Participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes (including the Participant’s FICA obligation) required to be withheld
with respect to such Award. 

  

	12.2	 Withholding Arrangements. The Administrator, in its discretion and pursuant to such procedures as it may
specify from time to time, may permit the Participant to satisfy such tax withholding obligation, in whole or in part by (a) electing to have the Company withhold otherwise deliverable Shares or (b) delivering to the Company already-owned
Shares having a Fair Market Value equal to the applicable withholding amount. The amount of the withholding requirement shall be deemed to include any amount which the Administrator agrees may be withheld at the time the election is made; provided,
however, in the case Shares are withheld 

  
 9 

	 	
by the Company to satisfy the tax withholding that would otherwise be issued to the Participant, the amount of such tax withholding shall be determined by applying the relevant federal, state or
local withholding tax rates applicable to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined. The Fair Market Value of the Shares to be withheld or delivered shall be determined as of the
date taxes are required to be withheld. 

 SECTION 13 

LEGAL CONSTRUCTION 
  

	13.1	 Liability of Company. The inability of the Company to obtain authority from any regulatory body having
jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful grant or any Award or the issuance and sale of any Shares hereunder, shall relieve the Company, its officers, Directors and Employees of any
liability in respect of the failure to grant such Award or to issue or sell such Shares as to which such requisite authority shall not have been obtained. 

  

	13.2	 Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also
shall include the feminine; the plural shall include the singular and the singular shall include the plural. 

  

	13.3	 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason,
the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

 

	13.4	 Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject
to all Applicable Law and to such approvals by any governmental agencies or national securities exchanges as may be required. 

  

	13.5	 Governing Law. The Plan and all Award Agreements shall be construed in accordance with and governed by
the laws of the State of Michigan, without giving effect to principles of conflicts of law of such state. 

  

	13.6	 Captions. Captions are provided herein for convenience only, and shall not serve as a basis for
interpretation or construction of the Plan. 

  

	13.7	 Plan Document Controls. All awards granted pursuant to the Plan shall be subject to the terms and
conditions of the Plan as amended and restated herein. The Plan and each Award Agreement constitute the entire agreement with respect to the subject matter hereof and thereof; provided that in the event of any inconsistency between the Plan and such
Award Agreement, the terms and conditions of the Plan shall control. 

  
 10usci_Ex10_1

		
			Exhibit 10.1
		

		
			SERVICES AND ADVISORY AGREEMENT
		

		
			This Services and Advisory Agreement (“Agreement”) is made and entered into as of May 7, 2019  (“Effective Date”), by and between Crescent Crypto Manager LLC (“Crescent”), a Delaware limited liability company, and United States Commodity Funds LLC (“USCF”), a Delaware limited liability company.  Each of Crescent and USCF shall be considered a “party” and together the “parties.”
		

		
			WITNESSETH:
		

		
			WHEREAS,  Crescent and its affiliates have created an index related to the performance of one or more cryptocurrencies (the “Index”) that is owned by Crescent Crypto Index Services LLC (the “Index Provider”) and calculated, maintained and published by the Index Provider or its designee;
		

		
			WHEREAS, USCF and the Index Provider have entered into a licensing agreement, dated the same date as this Agreement, as may be amended from time to time (the “Licensing Agreement”), pursuant to which USCF has a license from the Index Provider for the use of certain names and marks (“Service Marks”), including those of the Index, and the use of the Index in connection with an exchange-traded product that would invest in a portfolio of cryptocurrencies with the goal of substantially replicating the Index (the “Fund”);
		

		
			WHEREAS, USCF will be the sponsor and operator of the Fund and shall manage the Fund.
		

		
			WHEREAS, USCF wishes to retain Crescent to provide advice and trading support to USCF and the Fund with respect to a portfolio that will include cryptocurrencies and may include, in the future, other assets that derive their value, at least in part, from the value of cryptocurrencies,  to be invested in by the Fund (the “Cryptocurrency Interests”) to enable the Fund to seek to achieve its investment objective to track the Index; and
		

		
			NOW, THEREFORE, in consideration of the foregoing, and in reliance upon the mutual promises contained in this Agreement, the parties, intending to be legally bound, agree as follows:
		

		
			1.         SERVICES
		

		
			(a)        Crescent will provide advice and trading support to USCF and the Fund to enable the Fund to seek to achieve its investment objective to track the Index, including by (x) providing additional appropriate indexes for the Fund, if necessary, and (y) assisting in determining the strategy for satisfying the investment methodology, in each case in consultation with USCF.  In connection with such services, Crescent (1) will have discretionary authority with respect to the purchase, sale or holding of Cryptocurrency Interests by the Fund, except that Crescent will obtain USCF’s approval prior to hiring a custodian for the Cryptocurrency Interests and/or any other trading intermediaries, and (2) will provide advice regarding whether specific Cryptocurrency Interests should be purchased by the Fund in accordance with the procedures agreed to between Crescent and USCF.  Crescent shall further provide to USCF and the Fund, as applicable: (a) general consultation regarding the markets for and trading in Cryptocurrency Interests, and (b) such information
		

		
			
		

		
			

		 

		

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			and data as may reasonably be requested by USCF regarding the principals of Crescent and the Index for inclusion in regulatory filings and marketing materials for the Fund (all such advice and services as set forth in this Section 1(a), the “Services”).
		

		
			(b)       USCF will be the sponsor and operator of the Fund and shall manage the Fund.  USCF shall have sole discretion over hiring of service providers for the Fund other than the custodian for the Cryptocurrency Interests and/or any other trading intermediaries, which shall be hired by Crescent with USCF’s prior approval as set forth in Section 1(a) above.
		

		
			(c)        Each party acknowledges and agrees that the other party and its principals are required to devote only such time as may be reasonably required with respect to the Services.  Other than as set forth herein,  each party and its affiliates, including their respective partners, directors, members, stockholders, officers and employees (together, “Affiliates”) will not be precluded from engaging directly or indirectly in any other business or activity, including, exercising investment advisory and management responsibility and buying, selling or otherwise dealing with securities, commodities or other investments or property of any type for their own accounts, for the accounts of family members, for the accounts of other funds and for the accounts of individual and institutional clients, provided, however, that such activities do not cause a violation of laws or regulations applicable to trading in Fund shares or with respect to any of its investments.  Each party and its affiliates may also serve as the general partner, sponsor or investment manager of other funds, client accounts and proprietary accounts (collectively, its “Clients”).
		

		
			(d)       Notwithstanding the foregoing, during the term of this Agreement: (i) neither Crescent nor any of its affiliates will manage, sponsor, offer or seek to develop another fund whose shares are publicly-traded and offered in the U.S. that is based on the Index, and (ii) USCF will not manage, sponsor, offer, or seek to develop a  fund whose shares are publicly-traded and offered in the U.S. that is either based on the Index or has cryptocurrency as its core investment strategy.
		

		
			(e)       Other than as set forth below, each party and its affiliates will perform, among other things, investment advisory and management services for Clients other than the Fund and in that connection give advice and take action in the performance of their duties to those Clients which may differ from the timing and nature of advice given and action taken with respect to the Fund.  Crescent will make all investment decisions relating to the Fund and its other Clients in good faith and in a manner it considers to be the Fund’s and its Clients’ best interests consistent with its obligations to the Fund and its Clients.  Other than as set forth above, the Fund and other accounts advised or managed by Crescent may invest in the same securities, commodities or commodity interests. Crescent agrees that in rendering consulting, advisory and management services to other trading accounts and entities, it will seek to achieve an equitable treatment of all accounts and will use a fair and reasonable system of order entry for all accounts.
		

		
			2.         FEES AND EXPENSES
		

		
			(a)        For the Services provided hereunder, USCF will pay Crescent an Advisory Fee as set forth in the fee schedule attached as Exhibit A to this Agreement.
		

		
			
		

		
			

		 

		

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			(b)       To the extent a party incurs legal expenses for its own business purposes and which are not related to the development, registration or maintenance of the Fund, that party will pay its own firm’s legal expenses.  Each party will pay its own operational and other costs of maintaining its business, including those necessary to fulfill its contractual duties hereunder, such as costs for personnel, systems, equipment, software, and facilities.  Each party will pay its own travel, lodging, and entertainment costs in connection with any marketing event for the Fund or the Index.  USCF and Crescent will split the costs with respect to certain initiatives as set forth in Exhibit A, which may be amended in writing by the mutual agreement of the parties from time to time.  For the avoidance of doubt, Crescent or its affiliates will be responsible for the payment of the index calculation agent for the Index.
		

		
			(c)        USCF together with the distributor for the Fund, as appropriate, will be responsible for marketing costs for the Fund.
		

		
			(d)       The Index Provider and its affiliates will be responsible for marketing costs for the Index, including the preparation of white papers and analysis and expense associated with presentations at tradeshows, conferences, webinars.
		

		
			3.         DURATION AND TERMINATION
		

		
			(a)       This Agreement shall remain in effect for an initial period of five (5) years from the Effective Date (“Initial Period”), unless earlier terminated by either USCF or Crescent in accordance with this Section 3.  After the Initial Period, this Agreement shall continue for successive three-year periods (“Renewal Period”) unless terminated by either party as of the end of the Initial Period or each Renewal Period by providing at least ninety (90) days’ written notice of such termination prior to the end of the Initial Period or such Renewal Period, except as otherwise provided in this Section 3.
		

		
			(b)       If a party (the “Breaching Party”) is in material breach of any terms of this Agreement, either USCF or Crescent, as the case may be, may so notify the Breaching Party in writing, specifying the nature of the breach in reasonable detail.  The Breaching Party shall have thirty (30) calendar days from delivery of that notice to correct the breach; provided that, if the breach is not cured within that period, the other party may terminate this Agreement after the conclusion of the thirty-day period and upon ninety (90) days’ written notice to the Breaching Party.
		

		
			(c)       Either USCF or Crescent may terminate this Agreement upon thirty (30) days’ written notice to such other party if Crescent or USCF, as the case may be, is dissolved or its existence is terminated; becomes insolvent or bankrupt or admits in writing its inability to pay its debts as they mature, or makes an assignment for the benefit of creditors; has a custodian, trustee, or receiver appointed for it, or for all or substantially all of its property; has bankruptcy, reorganization, insolvency or liquidation proceedings or other proceedings for relief under any bankruptcy or similar law for the relief of debtors, instituted by or against it, and, if instituted against it, any of the foregoing is allowed or consented by the other party or is not dismissed within sixty (60) days after such institution.
		

		
			
		

		
			

		 

		

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			(d)        Either USCF or Crescent may terminate this Agreement upon ninety (90) days’ written notice to the other party if:
		

		
			(i)        any adverse finding is made in respect of, or official sanction imposed on, any party by any relevant regulatory authority which would be likely to have a material adverse effect on such party’s ability to perform its obligations under this Agreement;
		

		
			(ii)       USCF or Crescent, as the case may be, determines in its sole discretion that its compliance with any new legislation or regulatory guidance in respect of the provision of its services hereunder with respect to the Fund will result in material hardship or material expense to USCF or Crescent, as applicable;
		

		
			(iii)      Any material litigation or regulatory proceeding regarding Crescent or USCF, as the case may be (the “Affected Party”), is commenced and the other party, in its sole discretion, expects such litigation or proceeding to have a material adverse effect on the Affected Party;
		

		
			(iv)      Any material litigation or regulatory proceeding regarding the Fund is commenced which is reasonably likely to require the Fund to cease existence, and no successor Fund is commenced with similar investment objectives; or
		

		
			(v)       The Licensing Agreement is terminated.
		

		
			(e)        In the event that the Index Provider determines, in its sole discretion and for any reason, to cease the calculation and publication of any Index,  the Index Provider shall give USCF at least one hundred and eighty (180) days’ written notice prior to such discontinuance, which notice shall specify whether a replacement or substitute index will be available.  USCF shall have the option hereunder to use any such replacement index under the terms of this Agreement by notifying the Index Provider within ninety (90) days of receiving written notice from the Index Provider regarding the replacement index, on the same terms and conditions (including payment of fees as set forth in Section 2 of this Agreement) as USCF or the Fund previously used the discontinued Index. For the avoidance of doubt, to the extent the Index Provider determines it cannot maintain and calculate the Index in a manner consistent with the Fund’s stated investment objective or applicable law due to a material adverse development, such as changes in the regulation of the Index’s component assets that make such assets unsuitable for the Fund or incapable of achieving the Fund’s stated investment objective as described in the Fund’s registration statement, or market developments that make it impractical to carry out the Fund’s investment strategy as disclosed in its registration statement, it shall be obligated only to give USCF notice promptly following such determination; provided, however, that Crescent and the Index Provider agree to use commercially reasonable efforts to assist USCF with the orderly wind down of the Fund’s operations, the transition to a new investment strategy, or other course of action determined by USCF and Crescent to be in the best interest of the Fund and its shareholders.
		

		
			(f)        USCF may terminate this Agreement:
		

		
			
		

		
			

		 

		

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			(i)        immediately upon written notice to Crescent if USCF determines in its sole discretion and for any reason (a) not to proceed with the public offering or launch of the Fund or (b) to terminate the public offering or other distribution of the Fund and liquidate the Fund;
		

		
			(ii)       upon ninety (90) days’ written notice to Crescent if:
		

		
			(1)        USCF is informed of the final adoption of any legislation or regulation that materially impairs USCF’s ability to market, promote, or issue, redeem or list on an exchange, shares of the Fund; or
		

		
			(2)        Any two of the following individuals cease to serve as members of Crescent: Christopher Matta, Ali Hassan or Michael Kazley.
		

		
			(iii)      in the event of a change of control of Crescent upon one hundred and twenty (120) days’ prior written notice to Crescent, with such notice to be given within thirty (30) days after the expiration of a ninety (90) day period which begins immediately upon the occurrence of such change of control (notice of which shall be given by Crescent to USCF prior to or immediately upon the occurrence of such event); provided, however, that if USCF does not so give notice to terminate this Agreement, this Agreement shall automatically extend for three (3) years from the date of such change of control. For purposes of this Agreement, a change of control shall mean the sale of all or substantially all the assets of a party; any reorganization, merger, consolidation or acquisition of a party with, by or into another corporation, entity or person; or any change in the ownership of more than fifty percent (50%) of the voting capital stock of a party in one or more related transactions.
		

		
			(g)       Crescent may terminate this Agreement as soon as reasonably practicable upon USCF’s disqualification as the sponsor of the Fund. For the avoidance of doubt, in such case, Crescent agrees to use commercially reasonable efforts to assist with the orderly wind down of the Fund’s operations or transition of such operations to a new sponsor.
		

		
			(h)        Termination shall be without payment of any penalty. No fees under Section 2 of this Agreement will be payable to Crescent by USCF after termination of this Agreement as set forth in this Section 3 except any outstanding fees.  The fee for the month in which this Agreement is terminated will be pro-rated based on the number of days in the month during which the Agreement was in effect.
		

		
			4.         INDEMNIFICATION; LIMITATION OF LIABILITY
		

		
			(a)        Neither Crescent and its affiliates nor any of their officers, directors, shareholders, members, partners, employees and any person who controls Crescent (collectively, Advisory Affiliates”) shall be liable to USCF or the Fund under the terms of this Agreement, except for acts or omissions of Crescent or an Advisory Affiliate which constitute willful misconduct, gross negligence, bad faith, or material breach of this Agreement or applicable law.  USCF shall indemnify, defend and hold Crescent and its Advisory Affiliates, representatives, agents, attorneys, service providers, successors and
		

		
			
		

		
			

		 

		

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			assigns (collectively, the “Crescent Indemnified Parties”) harmless from and against any and all claims, liabilities, obligations, judgments, causes of action, costs and expenses (including reasonable attorneys’ fees) (collectively, “Losses”) in connection with or arising out of this Agreement, including but not limited to any material breach of this Agreement by USCF or any disclosure in the Registration Statement of the Fund (except disclosure about Crescent, the Index Provider or the Index that has been specifically approved by Crescent or the Index Provider), provided such expenses were not the result of any action or inaction of such Crescent Indemnified Party that constituted willful misconduct, gross negligence or bad faith of such party, or a material breach by such party of this Agreement or applicable law.
		

		
			(b)       Crescent shall indemnify, defend and hold USCF and its affiliates, members, directors, officers, shareholders, employees, representatives, agents, attorneys, successors and assigns (collectively, the “USCF Indemnified Parties”, and together with the Crescent Indemnified Parties, the “Indemnified Parties” or an “Indemnified Party”) harmless from and against any and all Losses arising out of (i) any material breach of this Agreement by Crescent, (ii) any disclosure in the Registration Statement of the Fund about Crescent, the Index Provider or the Index that has been specifically approved by Crescent or the Index Provider, or (iii) the gross negligence, willful misconduct or bad faith of Crescent in providing Services under this Agreement.
		

		
			(c)       Except as otherwise expressly provided herein, in no event shall either USCF or Crescent be liable to each other, for any lost profits, indirect, incidental, special or consequential damages, or punitive damages, whether under any theory of tort, contract, strict liability or other theory of liability, however caused, even if the party or an authorized representative thereof has been advised of the possibility of such damages.  Nothing in this Agreement shall in any way constitute a waiver or limitation on any rights which a party may have under the federal securities laws.
		

		
			(d)       Promptly after receipt by any Indemnified Party of notice of the commencement of any action, the Indemnified Party shall, if indemnification is to be sought against the other party (the “Indemnifying Party”) under this Section 4, notify the Indemnifying Party in writing of the commencement thereof, but the omission to notify the Indemnifying Party shall relieve the Indemnifying Party from liability hereunder only to the extent that such omission results in the forfeiture by the Indemnifying Party of rights or defenses with respect to such action.  In any action or proceeding, following provision of proper notice by the Indemnified Party of the existence of such action, the Indemnified Party shall be entitled to participate in any such action and to assume the defense thereof, with counsel of its choice, and after notice from the Indemnifying Party to such Indemnified Party of its election to assume the defense of the action, the Indemnifying Party shall not be liable to such Indemnified Party hereunder for any attorneys’ fees subsequently incurred by the Indemnified Party.  The Indemnified Party shall cooperate in the defense of settlement of claims so assumed.  The Indemnifying Party shall not be liable hereunder for the settlement by the Indemnified Party for any claim or demand unless it has previously approved the settlement, or it has been notified of such claim or demand and has failed to provide a defense in accordance with the provisions hereof.  In the event that the Indemnifying Party assumes the defense of the action, in negotiating any settlement the Indemnifying Party
		

		
			
		

		
			

		 

		

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			shall use commercially reasonable efforts to avoid any negative reputational or legal consequences to the Indemnified Party, and the Indemnified Party shall have the right to approve the terms of any settlement as to any such reputational or legal consequences in its reasonable discretion.  Without limiting the foregoing, in no event may either party make any admission of liability by or on behalf of the other party without such other party’s express prior written consent.
		

		
			5.         REPRESENTATIONS AND WARRANTIES; COVENANTS.
		

		
			(a)        Representations and Warranties of Crescent.  Crescent represents and warrants that:
		

		
			(i)        Crescent has the full power and authority to enter into this Agreement and to perform its obligations under this Agreement.
		

		
			(ii)       Crescent is a limited liability company duly organized and validly existing under the laws of the state of Delaware.
		

		
			(iii)      The execution, delivery and performance by Crescent of this Agreement are within Crescent’s powers and have been duly authorized by all necessary action and no further action is required on its part to authorize this Agreement.
		

		
			(iv)      The execution, delivery and performance by Crescent of this Agreement do not violate or result in a default under (i) any provision of applicable law, rule or regulation, (ii) Crescent’s governing instruments, or (iii) any agreement, judgment, injunction, order, decree or other instrument binding upon Crescent.
		

		
			(v)       Crescent is in compliance in all material respects with United States federal securities and commodities laws applicable to it as a manager and sponsor of funds that invest in Cryptocurrency Interests.
		

		
			(vi)      Crescent is in compliance with all applicable provisions of the USA PATRIOT Act, U.S. Bank Secrecy Act, and any other laws, orders, rules, or regulations administered by the Office of Foreign Assets Control of the U.S. Department of Treasury or the Financial Crimes Enforcement Network of the U.S. Department of Treasury, including any applicable customer due diligence requirements, in each case, such statute as amended to date and any successor statute thereto and including all regulations promulgated thereunder (the “Applicable AML Laws”).
		

		
			(vii)     This Agreement and each agreement, instrument or document to be executed and delivered to USCF by Crescent pursuant to this Agreement constitutes the legal, valid and binding obligation of Crescent, enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency and other laws and equitable principles affecting creditors’ rights generally and the discretion of the courts in granting equitable remedies.
		

		
			
		

		
			

		 

		

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			(viii)    Crescent represents that its other engagements or activities are as of the date of this Agreement not of a nature or magnitude so as to have a material adverse effect on its ability to fulfill its obligations under this Agreement.
		

		
			(b)        Representations and Warranties of USCF.  USCF represents and warrants that:
		

		
			(i)        USCF has the full power and authority to enter into this Agreement, to serve as the sponsor to and manager of the Fund and to perform the services and its obligations described under this Agreement.
		

		
			(ii)       USCF is a limited liability company duly organized and validly existing under the laws of the state of Delaware with the power to own and possess its assets and carry on its business as it is now being conducted.
		

		
			(iii)      The execution, delivery and performance by USCF of this Agreement are within USCF’s powers and have been duly authorized by all necessary action and no further action is required on its part to authorize this Agreement.
		

		
			(iv)      The execution, delivery and performance by USCF of this Agreement do not violate or result in a default under (i) any provision of applicable law, rule or regulation, (ii) USCF’s governing instruments, or (iii) any agreement, judgment, injunction, order, decree or other instrument binding upon USCF.
		

		
			(v)       USCF is registered with applicable regulators in each capacity in which it is required to register to perform its duties with respect to the Trust and the Fund and will continue to be so registered, if required, so long as this Agreement remains in effect, and is in compliance in all material respects with United States federal securities and commodities laws applicable to it as a manager and sponsor of its Clients.
		

		
			(vi)      This Agreement and each other agreement, instrument or document to be executed and delivered by USCF pursuant to this Agreement constitutes the legal, valid and binding obligation of USCF, enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency and other laws and equitable principles affecting creditors’ rights generally and the discretion of the courts in granting equitable remedies.
		

		
			(c)        Covenants of  Crescent.
		

		
			(i)        Crescent will promptly notify USCF of: (i) the occurrence of any event that would substantially impair Crescent’s ability to fulfill its commitments under this Agreement; and (ii) any breach of this Agreement.
		

		
			(ii)       Crescent will immediately notify, to the extent legally permissible, USCF if it becomes aware of any actual or suspected cybersecurity breach.
		

		
			
		

		
			

		 

		

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			(iii)      Crescent will promptly notify USCF if it is served or otherwise receives notice of any action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, government agency, self-regulatory organization, public board or body, involving the affairs of the Fund or impacting Crescent’s ability to perform its obligations hereunder, in each case unless Crescent is prohibited from doing so.
		

		
			(iv)      Crescent will comply in all material respects with United States federal securities and commodities laws applicable to it in connection with its provision of the Services to the Fund, and will continue to so comply so long as this Agreement remains in effect.
		

		
			(v)       Crescent will comply, in all material respects and with respect to confidential information of the Fund as identified by USCF and communicated to Crescent, with all applicable federal and state laws and regulations relating to data protection and security of information and information systems used to provide the Services, including without limitation the provisions of the New York Department of Financial Services Cybersecurity Requirements for Financial Services Companies applicable to third-party service providers to Covered Entities to the extent applicable to Crescent (23 N.Y. Comp. Codes R. & Regs. tit. 23, § 500.11).
		

		
			(vi)      Crescent and those of its representatives, agents, contractors, and service providers that assist Crescent in providing Services and have possession of confidential information in connection with such Services will employ security procedures and administrative, technical, and physical safeguards to reasonably protect the confidentiality, availability, and integrity of information and information systems used to provide the Services, consistent with the level of protection provided by generally accepted industry standards, including but not limited to: (a) encryption of electronic information in transit and at rest, (b) monitoring of systems to detect attacks or unauthorized access, (c) physical access and environmental controls, (d) electronic access controls consistent with the principle of least privilege, and using multi-factor authentication where appropriate, (e) risk assessments conducted at least annually, (f) appropriate backup and recovery and/or business continuity measures, and (g) periodic testing of safeguards through vulnerability assessments and/or penetration testing.
		

		
			(d)        Covenants of USCF.
		

		
			(i)        USCF will promptly notify Crescent of the occurrence of: (i) any event that would substantially impair the ability of USCF to fulfill its commitments under this Agreement, including if USCF becomes aware that it is or likely may become subject to any statutory disqualification pursuant to applicable law that prevents USCF from serving as sponsor or manager to the Fund; and (ii) any breach of this Agreement.
		

		
			
		

		
			

		 

		

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			(ii)       USCF will immediately notify, to the extent legally permissible, Crescent if it becomes aware of any actual or suspected cybersecurity breach.
		

		
			(iii)      USCF will promptly notify Crescent if it is served or otherwise receives notice of any material action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, government agency, self-regulatory organization, public board or body, involving the affairs of the Fund or impacting USCF’s ability to perform its obligations hereunder, in each case unless USCF is prohibited from doing so.
		

		
			(iv)      USCF will comply in all material respects with United States federal securities, commodities and banking laws applicable to it as the manager and sponsor of the Fund. If required at any time by applicable law, USCF (a) will be registered as a commodity pool operator (“CPO”) with the CFTC and serve as the CPO of the Fund and be a member of the NFA, and (b) will continue to be so registered and remain such a member, in each case, if required, so long as this Agreement remains in effect.
		

		
			6.         CONFIDENTIAL INFORMATION
		

		
			(a)        By virtue of this Agreement, either USCF or Crescent may have access to information that is confidential to the other party including, all business, technical, financial, customer and/or any other proprietary information of a party or its affiliates, products, processes, tools, services, and technical knowledge.  For purposes of this Agreement, “Confidential Information” shall mean information or data of either party (i) that is labeled or identified clearly as confidential by the disclosing party; (ii) in respect of which the receiving party has received from the disclosing party specific written notice of its proprietary and confidential nature, either prior to or concurrently with the disclosure; and (iii) all information concerning the Index not intentionally made public by the Index Provider, its affiliates, or its designee, whether or not so marked.  Notwithstanding the foregoing, information and data disclosed shall not be deemed to be Confidential Information of the disclosing party, and the receiving party shall have no obligation to treat such information and data as Confidential Information, if such information and data: (i) was known by the receiving party at the time of such disclosure; (ii) was known to the public at the time of such disclosure; (iii) becomes known to the public (other than by act of the receiving party) subsequent to such disclosure; (iv) is disclosed lawfully to the receiving party by a third party subsequent to the disclosure; (v) is developed independently by the receiving party without reference to the Confidential Information; or (vi) is approved in writing, including via e-mail, by the disclosing party for disclosure.  In addition, the obligations of this Section 6 do not apply to Confidential Information that is required to be disclosed pursuant to a duly authorized subpoena, court order, or government authority, provided that to the extent permitted by law the party subject to same shall provide immediate written notice to the other party upon receipt of subpoena, order, or other disclosure requirement prior to such disclosure and allow such other party the opportunity to intervene in the action in order to attempt to enjoin such subpoena, order, or other disclosure requirement.  The parties will reasonably cooperate in any such proceeding.  Such Confidential Information shall remain confidential for all other purposes.
		

		
			
		

		
			

		 

		

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			(b)       Neither party shall use the Confidential Information of the other party for its own benefit, nor copy or reproduce such Confidential Information, except as reasonably necessary to perform its obligations under this Agreement.  Further, except as expressly provided for herein, USCF and Crescent agree to maintain the confidentiality of the Confidential Information, except that the Confidential Information may be disclosed (i) to their respective affiliates and their respective affiliates’ directors, officers, employees (it being understood that the persons to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such Confidential Information confidential), (ii) their respective agents and service providers, including accountants, legal counsel and other advisors (it being understood that the persons to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such Confidential Information confidential), (iii) to the extent requested by any governmental authority, taxing authority or self-regulatory authority, provided, however, that the disclosing party, if permitted, will promptly notify the non-disclosing party if it provides Confidential Information in response to any such request, (iv) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the rights granted hereunder, (v) in the regulatory filings of either party if required by applicable law and after providing notice of such disclosure to the non-disclosing party and (vi) with the consent of the other party. Such Confidential Information shall remain confidential for all other purposes.
		

		
			(c)       USCF and Crescent agree to secure and protect the Confidential Information of each other in a manner consistent with the maintenance of the other party’s rights therein, using at least as great a degree of care as each party uses to maintain the confidentiality of its own confidential information of a similar nature, but in no event using less than its reasonable efforts.  Neither USCF nor Crescent shall sell, transfer, publish, disclose, or otherwise make available any portion of the Confidential Information of the other party to third parties, except as necessary to perform its obligations under this Agreement or as expressly authorized in this Agreement.  Each party represents that it has, and agrees to maintain, an appropriate agreement with each third party who may have access to Confidential Information sufficient to enable such party to comply with all of the terms of this Agreement.
		

		
			(d)       USCF and Crescent agree that the unauthorized use by any party of the other party’s Confidential Information will diminish the value of such Confidential Information and will cause substantial and irreparable damage to the party whose Confidential Information was improperly disclosed, and that the remedies generally available at law may be inadequate.  Accordingly, USCF and Crescent agree that a breach of this Section 6 shall entitle Crescent (in the case of a breach by USCF) or USCF (in the case of a breach by Crescent) to seek equitable relief to protect its interest herein, including injunctive relief, as well as money damages.  The parties agree that the obligations under this Section shall survive termination or expiration of this Agreement.
		

		
			(e)        Each party shall be free to use for itself and for others in any manner the general knowledge, skill or experience acquired by it in connection with this Agreement.
		

		
			
		

		
			

		 

		

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			7.         GENERAL
		

		
			(a)        Interpretation.  Titles and paragraph headings herein are for convenient reference only and are not part of this Agreement.  When reference is made in this Agreement to a section, such reference shall be to a section of this Agreement, unless otherwise indicated.  Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. Any reference to any federal, state, local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise.  Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”
		

		
			(b)        No Strict Construction.  The parties to this Agreement have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement.
		

		
			(c)        Independent Contractors.  USCF and Crescent are independent contractors to one another.  Nothing in this Agreement shall be construed to create a partnership, joint venture or agency relationship between USCF, on the one hand, and Crescent, on the other hand.
		

		
			(d)        Force Majeure.  No party shall be in default or otherwise liable for any delay in or failure of its performance under this Agreement where such delay or failure arises by reason of any act of God, or any government or any governmental body, any act of war or terrorism, the elements, strikes or labor disputes, or other similar or dissimilar cause beyond the control of such party.
		

		
			(e)        Notice.  All notices required to be sent hereunder shall be in writing and shall be deemed to have been given when delivered electronically or mailed by registered or certified mail, postage prepaid by the party giving notice to the other party at the last address furnished by the other party:
		

		
			To USCF at:
		

		
			United States Commodity Funds, LLC
		

		
			1850 Mt. Diablo Blvd, Suite 640
		

		
			Walnut Creek, CA 94596
		

		
			Attn: John P. Love, President and Chief Executive Officer
		

		
			Tel: (510) 522-9600
		

		
			Email: jlove@uscfinvestments.com
		

		
			 
		

		
			With a copy to:
		

		
			Daphne G. Frydman, General Counsel
		

		
			Tel: (510) 522-9600
		

		
			Email: dfrydman@uscfinvestments.com
		

		
			 
		

		
			
		

		
			

		 

		

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			To Crescent at:
		

		
			Crescent Crypto Manager LLC
		

		
			101 Hudson Street
		

		
			Suite 2100
		

		
			Jersey City, NJ 07302
		

		
			Attn: Christopher Matta
		

		
			Tel:
		

		
			Email: chris@crescentcrypto.com
		

		
			 
		

		
			(f)        Severability.  If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.  Upon such determination that any term or other provision is invalid, illegal or unenforceable, such provision shall be deemed to be restated to be enforceable, in a manner which reflects, as nearly as possible, the intent and economic effect of the invalid provision in accordance with applicable law.  If necessary or appropriate, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.  The remainder of this Agreement shall remain in full force and effect.
		

		
			(g)       Waiver.  The waiver by any party of any default or breach of this Agreement shall not constitute a waiver of any other or subsequent default or breach.
		

		
			(h)       Modification.  No representation or promise hereafter made, nor any modification or amendment of this Agreement, including its Exhibits and Appendices, if any, shall be binding unless in writing and executed by duly authorized agents of both Crescent and USCF.
		

		
			(i)        Entire Agreement.  This Agreement and any Exhibits or Appendices constitute the complete agreement between the parties and supersede all prior agreements, proposals, understandings, and representations, written or oral, with respect to the subject matter addressed herein.
		

		
			(j)        Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but which together shall constitute one and the same document.
		

		
			(k)       Assignment.  This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.  USCF may not assign this Agreement or any of the rights or obligations granted hereunder (except to an affiliate under common control) without Crescent’s prior written consent, and Crescent may not assign this Agreement or any of the rights or obligations granted hereunder without USCF’s prior written consent.
		

		
			
		

		
			

		 

		

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			(l)        No Third-Party Beneficiaries.  This Agreement is not intended, and shall not be deemed, to confer any rights or remedies upon any person other than the parties hereto and their respective successors and permitted assigns, to create any agreement of employment with any person or to otherwise create any third‐party beneficiary hereto.
		

		
			(m)      Governing Law.  This Agreement shall be governed by and construed solely and exclusively in accordance with the laws of the State of New York, without reference to its conflicts of law principles. With respect to any dispute arising with respect to the terms hereof, each party to this Term Sheet submits to the exclusive jurisdiction of any Federal court (or, if federal jurisdiction is not available, any New York state court) sitting in the City of New York.
		

		
			(n)       Survival.  The terms of Sections  3(i), 4, 6,  and 7  shall survive the expiration or termination of this Agreement.
		

		
			 
		

		
			[Signature Page Follows]
		

		
			 
		

		
			
		

		
			

		 

		

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			IN WITNESS WHEREOF, the parties have entered into this Services and Advisory Agreement as of the Effective Date.
		

		
			 
		

			
					
						CRESCENT CRYPTO MANAGER LLC

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Chris Matta

					
					
						 

				
	
					
						 

					
					
						Name: Christopher Matta

					
					
						 

				
	
					
						 

					
					
						Title: Co-Founder

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						CRESCENT CRYPTO INDEX SERVICES LLC
(For purposes of Section 3(e) only)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Chris Matta

					
					
						 

				
	
					
						 

					
					
						Name: Christopher Matta

					
					
						 

				
	
					
						 

					
					
						Title: Co-Founder

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						UNITED STATES COMMODITY FUNDS, LLC

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ John Love

					
					
						 

				
	
					
						 

					
					
						Name: John Love

					
					
						 

				
	
					
						 

					
					
						Title: President & CEO

					
					
						 

				
	
					
						 

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

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			EXHIBIT A
		

		
			FEE SCHEDULE AND COSTS
		

		
			 
		

		
			The fee payable to Crescent for the Services under this Agreement shall be the “Advisory Fee.”  The Advisory Fee shall be paid to Crescent by USCF and/or the Fund within 30 days after the last business day of each month.  The Advisory Fee will be calculated as an amount equal to A – (B + C) where A equals 50% of the applicable Fund’s average daily net assets1 multiplied by the Management Fee,  B equals the License Fee paid to the Index Provider under the Licensing Agreement, and C equals Crescent’s share of Fund Expenses.
		

		
			 
		

		
			The “Management Fee” shall equal the amount of the monthly fee paid by the Fund to USCF for its managing and operating the Fund.
		

		
			 
		

		
			“Fund Expenses” shall be defined as: those expenses paid by USCF on behalf of the Fund or by the Fund directly including license fees (not including the License Fee paid to the Index Provider),  custody, fund accounting, Fund administration, tax reporting, portfolio commissions and any other trading costs that the Fund incurs,  costs associated with registration of Fund shares,  legal expenses of the Fund,  listing fees, printing fees,  audit fees, and the director fees allocable to the Fund. For the avoidance of doubt, marketing costs shall not be considered Fund Expenses.
		

		
			 
		

		
			Crescent’s share of Fund Expenses will be an amount equal to 50% of the costs paid (1) directly by the Fund and reimbursed by USCF (when expenses paid directly by the Fund exceed a “fee cap” or “unitary management fee” that limits the Fund’s liability to a certain threshold) or (2) by USCF on behalf of the Fund and (3) for any platform, seeding or other fees mutually agreed upon between USCF and Crescent.  These costs will begin to accrue upon commencement of operations.
		

		
			 
		

		
			In addition, USCF and Crescent will each pay 50% of all pre-launch Fund development costs, which include (i) reasonable legal expenses charged by Fund counsel, which shall be retained by USCF in its sole discretion, for work undertaken with respect to the Fund only and excluding legal expenses related to the operation of USCF or its compliance with regulations or other law applicable to it in its capacity as a sponsor of or manager to its Clients other than the Fund, (ii) registration of initial shares with the U.S. Securities and Exchange Commission, (iii) printing, (iv) initial audit, and (v) other costs relating to the registration and listing of the Fund and its shares.  Within 30 days of receipt by USCF of invoices from service providers or vendors, or incurrence of payment/liability for the Fund, USCF will provide Crescent with copies of the invoices or other documentation of such expenses.  If Crescent incurs any Fund development costs, Crescent will provide USCF with copies of invoices or other documentation of such expenses within 30 days of receipt.  Each party will reimburse the other party for the amount of its respective share of pre-launch Fund development costs that exceed offsetting reimbursements from the other party within 30 days after the last business day of each month.
		

		
			 
		

		
			 
		

		
			 
		

		

		
			1      The “average daily net assets” shall be determined on the basis set forth in the Fund’s registration statement.
		

		 

		

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