Document:

Contribution Agreement, dated November 4, 2011

 Exhibit 10.7 
 CONTRIBUTION AGREEMENT 
 among 

DCP LP Holdings, LLC, 
 DCP Midstream GP, LP, 
 DCP Midstream, LLC 

and 

DCP Midstream Partners, LP 
 November 4, 2011 

 Table of Contents 

 

									
	ARTICLE I CERTAIN DEFINITIONS	  	 	1	  
				
		 	1.1	  	Certain Defined Terms.	  	 	1	  
		 	1.2	  	Other Definitional Provisions.	  	 	12	  
		 	1.3	  	Headings.	  	 	13	  
		 	1.4	  	Other Terms.	  	 	13	  
		
	ARTICLE II CONTRIBUTION OF THE SUBJECT INTERESTS, ISSUANCE OF THE UNITS AND CONSIDERATION	  	 	13	  
				
		 	2.1	  	The Transaction.	  	 	13	  
		 	2.2	  	Consideration.	  	 	13	  
		
	ARTICLE III ADJUSTMENTS AND SETTLEMENT	  	 	13	  
				
		 	3.1	  	Adjustments.	  	 	13	  
		 	3.2	  	Preliminary Settlement Statement.	  	 	14	  
		 	3.3	  	Final Settlement Statement.	  	 	14	  
		 	3.4	  	Dispute Procedures.	  	 	14	  
		 	3.5	  	Payments.	  	 	14	  
		 	3.6	  	Access to Records.	  	 	15	  
		
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF HOLDINGS	  	 	15	  
				
		 	4.1	  	Organization, Good Standing, and Authority.	  	 	15	  
		 	4.2	  	Enforceability.	  	 	15	  
		 	4.3	  	No Conflicts.	  	 	15	  
		 	4.4	  	Consents, Approvals, Authorizations and Governmental Regulations.	  	 	16	  
		 	4.5	  	Taxes.	  	 	16	  
		 	4.6	  	Litigation; Compliance with Laws.	  	 	17	  
		 	4.7	  	Contracts.	  	 	17	  
		 	4.8	  	Title to Assets; Intellectual Property.	  	 	18	  
		 	4.9	  	[Reserved].	  	 	19	  
		 	4.10	  	[Reserved].	  	 	19	  
		 	4.11	  	Preferential Rights to Purchase.	  	 	19	  
		 	4.12	  	Broker’s or Finder’s Fees.	  	 	19	  
		 	4.13	  	Compliance with Property Instruments.	  	 	19	  
		 	4.14	  	Environmental Matters.	  	 	19	  
		 	4.15	  	Employee Matters.	  	 	20	  
		 	4.16	  	Benefit Plan Liabilities.	  	 	20	  
		 	4.17	  	No Foreign Person.	  	 	20	  
		 	4.18	  	Capitalization of the Subject Interests.	  	 	20	  
		 	4.19	  	Subsidiaries and Other Equity Interests.	  	 	21	  
		 	4.20	  	Bank Accounts.	  	 	21	  
		 	4.21	  	[Reserved].	  	 	21	  
		 	4.22	  	[Reserved].	  	 	21	  
		 	4.23	  	Investment Intent.	  	 	21	  
		 	4.24	  	Undisclosed Liabilities.	  	 	21	  
		 	4.25	  	No Other Representations or Warranties; Schedules.	  	 	21	  

  
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	ARTICLE V REPRESENTATIONS AND WARRANTIES OF MLP	  	 	22	  
				
		 	  5.1	  	Organization, Good Standing, and Authorization.	  	 	22	  
		 	  5.2	  	Enforceability.	  	 	22	  
		 	  5.3	  	No Conflicts.	  	 	22	  
		 	  5.4	  	Consents, Approvals, Authorizations and Governmental Regulations.	  	 	22	  
		 	  5.5	  	Litigation.	  	 	22	  
		 	  5.6	  	Independent Investigation.	  	 	22	  
		 	  5.7	  	Broker’s or Finder’s Fees.	  	 	23	  
		 	  5.8	  	Investment Intent.	  	 	23	  
		 	  5.9	  	Available Funds.	  	 	24	  
		
	ARTICLE VI COVENANTS	  	 	24	  
				
		 	  6.1	  	Conduct of Business.	  	 	24	  
		 	  6.2	  	Casualty Loss.	  	 	25	  
		 	  6.3	  	Access, Information and Access Indemnity.	  	 	26	  
		 	  6.4	  	Limitation on Casualty Losses and Other Matters.	  	 	27	  
		 	  6.5	  	Supplements to Exhibits and Schedules.	  	 	27	  
		 	  6.6	  	Preservation of Records.	  	 	27	  
		 	  6.7	  	[Reserved].	  	 	27	  
		 	  6.8	  	Capital Projects.	  	 	27	  
		 	  6.9	  	[Reserved].	  	 	28	  
		 	  6.10	  	Tax Covenants; Preparation of Tax Returns.	  	 	28	  
		 	  6.11	  	Further Assurances.	  	 	28	  
		
	ARTICLE VII CONDITIONS TO CLOSING	  	 	29	  
				
		 	  7.1	  	HOLDINGS’/GP’s Conditions.	  	 	29	  
		 	  7.2	  	MLP’s Conditions.	  	 	29	  
		 	  7.3	  	Exceptions.	  	 	30	  
		
	ARTICLE VIII CLOSING	  	 	30	  
				
		 	  8.1	  	Time and Place of Closing.	  	 	30	  
		 	  8.2	  	Deliveries at Closing.	  	 	30	  
		
	ARTICLE IX TERMINATION	  	 	31	  
				
		 	  9.1	  	Termination.	  	 	31	  
		 	  9.2	  	Effect of Termination Prior to Closing.	  	 	31	  
		
	ARTICLE X INDEMNIFICATION	  	 	31	  
				
		 	10.1	  	Indemnification by MLP.	  	 	31	  
		 	10.2	  	Indemnification by HOLDINGS.	  	 	32	  
		 	10.3	  	Deductibles, Caps, Survival and Certain Limitations.	  	 	32	  
		 	10.4	  	Notice of Asserted Liability; Opportunity to Defend.	  	 	34	  
		 	10.5	  	Materiality Conditions.	  	 	35	  
		 	10.6	  	Exclusive Remedy.	  	 	36	  
		 	10.7	  	Negligence and Strict Liability Waiver.	  	 	36	  
		 	10.8	  	Limitation on Damages.	  	 	36	  
		 	10.9	  	Bold and/or Capitalized Letters.	  	 	36	  
		
	ARTICLE XI MISCELLANEOUS PROVISIONS	  	 	37	  
		 	11.1	  	Expenses.	  	 	37	  

  
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		 	11.2	  	Further Assurances.	  	 	37	  
		 	11.3	  	Transfer Taxes.	  	 	37	  
		 	11.4	  	Assignment.	  	 	37	  
		 	11.5	  	Entire Agreement, No Amendment of Prior Contribution Agreements, Amendments and Waiver.	  	 	37	  
		 	11.6	  	Severability.	  	 	37	  
		 	11.7	  	Counterparts.	  	 	38	  
		 	11.8	  	Governing Law, Dispute Resolution and Arbitration.	  	 	38	  
		 	11.9	  	Notices and Addresses.	  	 	40	  
		 	11.10	  	Press Releases.	  	 	41	  
		 	11.11	  	Offset.	  	 	41	  
		 	11.12	  	No Partnership; Third Party Beneficiaries.	  	 	41	  
		 	11.13	  	Negotiated Transaction.	  	 	42	  

  

			
	Schedules	  	
	  1.1(a)	  	Excluded Assets
	  1.1(b)	  	HOLDINGS’ Knowledge
	  1.1(c)	  	Permitted Encumbrances
	  1.1(d)	  	Reserved Liabilities
	  1.1(e)	  	System Maps
	  4.4	  	HOLDINGS’ Required Consents
	  4.5	  	Taxes
	  4.6	  	Litigation
	  4.7	  	Contracts
	  4.11	  	Preferential Rights
	  4.13	  	Real Property Matters
	  4.14	  	Environmental Matters
	  4.19	  	Subsidiaries
	  4.20	  	Bank Accounts
	  5.4	  	MLP Required Consents
	  6.8(a)	  	Capital Projects
	  6.8(b)	  	Assumed Capital Projects
	10.2(d)	  	Scheduled HOLDINGS Indemnified Matters
		
	Exhibits	  	
	A	  	Form of Subject Interests Assignment Agreements
	B	  	Form of Certificate of Common Units
	C	  	Form of Hedge Confirmation

  
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 CONTRIBUTION AGREEMENT 

This Contribution Agreement (“Agreement”) is dated as of November 4, 2011 (the “Execution Date”)
and is by and among DCP LP Holdings, LLC, a Delaware limited liability company (“HOLDINGS”), DCP Midstream GP, LP, a Delaware limited partnership (“GP”), DCP Midstream, LLC, a Delaware limited liability company
(“MIDSTREAM”), and DCP Midstream Partners, LP, a Delaware limited partnership (“MLP”). HOLDINGS, GP, MIDSTREAM, and MLP are sometimes referred to collectively herein as the “Parties” and individually as a
“Party”. 
 R E C I T A L S 
 A. Pursuant to the Prior Contribution Agreements, MIDSTREAM, through HOLDINGS and GP conveyed 50.1% of the outstanding membership interests in DCP East Texas Holdings, LLC, a Delaware limited liability
company (the “JV”) to MLP. 
 B. Immediately prior to the date hereof, MIDSTREAM owned 49.9% of the outstanding
membership interests in the JV (the “Subject Interests”), and MLP owned 50.1% of the outstanding membership interests in the JV. 
 C. The JV owns all of the membership interests in FCV, ET and DETG, which collectively own and operate certain midstream gathering, compression, dehydrating, processing and fractionating assets located in
Panola, Harrison, Shelby, and Rusk Counties, Texas, and Caddo and DeSoto Parishes, Louisiana including the Former UP Fuels Properties and the Former Gulf South Properties, which are generally depicted on the System Map (the “East Texas
System”). 
 D. On the Closing Date, MIDSTREAM shall cause the Subject Interests to be contributed to HOLDINGS and GP
as capital contributions. 
 E. The Parties then desire that HOLDINGS and GP contribute the Subject Interests to MLP for the
consideration and in accordance with the terms of this Agreement. 
 FOR GOOD AND VALUABLE CONSIDERATION, the receipt and
sufficiency of which are hereby acknowledged, MLP, GP, MIDSTREAM, and HOLDINGS agree as follows: 
 ARTICLE I 

CERTAIN DEFINITIONS 
 1.1 Certain Defined Terms. Capitalized terms used herein and not defined elsewhere in this Agreement shall have the meanings given such terms as is set forth below. 

“Affiliate” means, when used with respect to a specified Person, any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the specified Person as of the time or for the time periods during which such determination is made. For purposes of this definition “control”, when used with respect to any
specified Person, means the power to direct the management and policies of the Person, directly or indirectly, 

  
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whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have the meanings correlative to the foregoing.
Notwithstanding the foregoing, except for the JV, the term “Affiliate” when applied to (a) MLP shall not include Spectra Energy Corp, a Delaware corporation, or ConocoPhillips, a Delaware corporation, or any entities owned, directly
or indirectly, by Spectra Energy Corp or ConocoPhillips, other than entities owned, directly or indirectly, by MLP and GP and (b) HOLDINGS or GP shall not include MLP or any entities owned, directly or indirectly, by MLP. 

“Arbitral Dispute” means any dispute, claim, counterclaim, demand, cause of action, controversy and other matters in
question arising out of or relating to this Agreement or the alleged breach hereof, or in any way relating to the subject matter of this Agreement or the relationship between the Parties created by this Agreement, regardless of whether
(a) allegedly extra-contractual in nature, (b) sounding in contract, tort, or otherwise, (c) provided for by applicable Law or otherwise, or (d) seeking damages or any other relief, whether at Law, in equity, or otherwise.

 “Arbitration Rules” shall have the meaning given such term in Section 11.8(d). 

“Assets” shall mean all of the following assets and properties of the JV (and its respective Subsidiaries), except for
the Excluded Assets: 
 (a) Personal Property. All tangible personal property of every kind and nature that relates to
the ownership, operation, use or maintenance of the Facilities, including meters, valves, engines, field equipment, office equipment, fixtures, trailers, tools, instruments, spare parts, machinery, computer equipment, telecommunications equipment,
furniture, supplies and materials that are located at the Facilities, and all hydrocarbon inventory at the Facilities, including linefill (collectively the “Personal Property”); 

(b) Real Property. All fee property, rights-of-way, easements, surface use agreements, licenses and leases that relate to the
ownership, operation, use or maintenance of the Facilities, (collectively, the “Real Property Interests”), and all fixtures, buildings and improvements located on or under such Real Property Interests; 

(c) Permits. All assignable permits, licenses, certificates, orders, approvals, authorizations, grants, consents, concessions,
warrants, franchises and similar rights and privileges which are necessary for, or are used or held for use primarily for or in connection with, the ownership, use, operation or maintenance of the Assets (collectively, the
“Permits”); 
 (d) Contract Rights. All contracts that relate to the ownership, operation, use or
maintenance of the Assets, including all gathering, processing, balancing and other agreements for the handling of natural gas or liquids, purchase and sales agreements, storage agreements, transportation agreements, equipment leases, rental
contracts, and service agreements (collectively, the “Contracts”); 
 (e) Intellectual Property. All
technical information, shop rights, designs, plans, manuals, specifications and other proprietary and nonproprietary technology and data used in connection with the ownership, operation, use or maintenance of the Assets (collectively, the
“Intellectual Property”); 

  
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 (f) Facilities. All meter stations, gas processing plants, treaters, dehydration
units, compressor stations, fractionators, liquid handling facilities, platforms, warehouses, field offices, control buildings, pipelines, tanks and other associated facilities that are used or held for use in connection with the ownership,
operation or maintenance of the East Texas System (collectively, the “Facilities”); 
 (g) Books and
Records. All contract, land, title, engineering, environmental, operating, accounting, business, marketing, and other data, files, documents, instruments, notes, correspondence, papers, ledgers, journals, reports, abstracts, surveys, maps,
books, records and studies which relate primarily to the Assets or which are used or held for use primarily in connection with, the ownership, operation, use or maintenance of the Assets; provided, however, such material shall not include
(i) any proprietary data that is not primarily used in connection with the continued ownership, use or operation of the Assets, (ii) any information subject to Third Person confidentiality agreements for which a consent or waiver cannot be
secured by HOLDINGS or GP after reasonable efforts, (iii) any information which, if disclosed, would violate an attorney-client privilege or would constitute a waiver of rights as to attorney work product or attorney-client privileged
communications, or (iv) any information relating primarily to the Reserved Liabilities or any obligations for which HOLDINGS or GP is required to indemnify the MLP Indemnitees pursuant to Section 10.2 (collectively, the
“Records”); provided, however, that MLP shall have the right to copy any of the information specified in clause (iv); and 
 (h) Incidental Rights. All of the following insofar as the same are attributable or relate primarily to any of the Assets described in clauses (a) through (g): (i) all
purchase orders, invoices, storage or warehouse receipts, bills of lading, certificates of title and documents, (ii) all keys, lock combinations, computer access codes and other devices or information necessary to gain entry to and/or take
possession of such Assets, (iii) all rights in any confidentiality or nonuse agreements relating to the Assets, and (iv) the benefit of and right to enforce all covenants, warranties, guarantees and suretyship agreements running in favor
of the Entities relating primarily to the Assets and all security provided primarily for payment or performance thereof. 

“Assumed Capital Projects” shall have the meaning given such term in Section 6.8(b). 

“Assumed Capital Projects Amount” shall have the meaning given such term in Section 6.8(b). 

“Assumed Obligations” shall mean any and all obligations and liabilities with respect to or arising out of (i) the
JV LLC Agreement and attributable to the Subject Interests, (ii) the ownership of the Subject Interests, (iii) the environmental matter on Schedule 4.14(1) and, (iv) the Assumed Capital Projects set forth in Schedule 6.8(b),
and (v) the Hedge. 
 “Benefit Plan” shall mean any of the following: (a) any employee welfare
benefit plan or employee pension benefit plan as defined in sections 3(1) and 3(2) of ERISA, and (b) any other 

  
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material employee benefit agreement or arrangement, including a deferred compensation plan, incentive plan, bonus plan or arrangement, stock option plan, stock purchase plan, stock award plan,
golden parachute agreement, severance plan, dependent care plan, cafeteria plan, employee assistance program, scholarship program, employment contract, retention incentive agreement, non-competition agreement, consulting agreement, vacation policy,
and other similar plan, agreement and arrangement. 
 “Business Day” shall mean any day, other than Saturday
and Sunday, on which federally-insured commercial banks in Denver, Colorado are generally open for business and capable of sending and receiving wire transfers. 
 “Capital Projects” shall have the meaning given such term in Section 6.8(a). 
 “Cash Consideration” shall have the meaning given such term Section 2.2. 
 “Casualty Loss” shall mean, with respect to all or any portion of the Assets, any destruction by fire, storm or other casualty, or any condemnation or taking or threatened condemnation or
taking, of all or any portion of the Assets. 
 “Certificate of Common Units” shall mean a certificate
representing Units in the MLP in the form of the attached Exhibit B. 
 “Claim” shall mean any demand,
demand letter, claim or notice by a Third Person of noncompliance or violation or Proceeding. 
 “Claim Notice”
shall have the meaning given such term in Section 10.3(c). 
 “Closing” shall have the meaning
given such term in Section 8.1. 
 “Closing Date” shall have the meaning given such term in
Section 8.1. 
 “Code” shall mean the U.S. Internal Revenue Code of 1986, as amended. 

“Commercially Reasonable Efforts” shall mean efforts which are reasonably within the contemplation of the Parties on the
date hereof, which are designed to enable a Party, directly or indirectly, to satisfy a condition to, or otherwise assist in the consummation of, the transactions contemplated by this Agreement and which do not require the performing Party to expend
any funds or assume liabilities other than expenditures and liabilities which are reasonable in nature and amount in the context of the transactions contemplated by this Agreement. 

“Contracts” shall have the meaning given such term in the definition of Assets. 

“Defensible Title” shall mean, as to the Assets, such title to the Assets that vests the applicable Entity with
indefeasible title in and to the Assets free and clear of Liens other than Permitted Encumbrances. 
 “DETG”
shall mean DCP East Texas Gathering, LLC, a Delaware limited liability company. 

  
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 “East Texas System” shall have the meaning given such term in the Recitals.

 “Effective Time” shall mean 11:59 p.m. Denver time on the Closing Date or such other time and place mutually
agreed to by the Parties in writing. 
 “Entities” shall mean FCV, ET, DETG and the JV. 

“Environmental Law” shall mean any and all Laws, statutes, ordinances, rules, regulations, or orders of any Governmental
Authority in existence at the Effective Time pertaining to employee health, public safety, pollution or the protection of the environment or natural resources or to Hazardous Materials in any and all jurisdictions in which the party in question owns
property or conducts business or in which the Assets are located, including the Clean Air Act, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (“CERCLA”), the Federal Water Pollution Control Act,
the Occupational Safety and Health Act of 1970 (to the extent relating to environmental matters), the Resource Conservation and Recovery Act of 1976 (“RCRA”), the Safe Drinking Water Act, the Toxic Substances Control Act, the
Hazardous & Solid Waste Amendments Act of 1984, the Superfund Amendments and Reauthorization Act of 1986, the Hazardous Materials Transportation Act, the Oil Pollution Act of 1990, any state or local Laws implementing or substantially
equivalent to the foregoing federal Laws, and any state or local Laws pertaining to the handling of oil and gas exploration, production, gathering, and processing wastes or the use, maintenance, and closure of pits and impoundments. 

“Environmental Matter” shall have the meaning given such term in Section 4.4(b) 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

“ET” shall mean EasTrans, LLC, a Delaware limited liability company. 

“Excluded Assets” shall mean all of the following: 

(a) Any deposits or pre-paid items attributable to the operation of the Assets not paid by or on behalf of the JV; 

(b) [Reserved]; 

(c) Claims for refund of or loss carry forwards with respect to (i) Taxes attributable to the business of the Entities for any
period prior to the Prior Contribution Agreement Closing Date or (ii) any Taxes attributable to any of the Excluded Assets; 
 (d) All work product of HOLDINGS’ or its Affiliates’ attorneys, records relating to the negotiation and consummation of the transactions contemplated hereby and documents that are subject to a
valid attorney client privilege; 
 (e) the real property, personal property, contracts, intellectual property, Permits, office
computers or other equipment (or any leases or licenses of the foregoing), if any, that are listed on Schedule 1.1(a); 

  
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 (f) All vehicles, and all leases for vehicles that relate to the ownership, operation, use
or maintenance of the Assets; 
 (g) All computer software that relates to the ownership, operation, use or maintenance of the
Assets that requires a consent to transfer; 
 (h) All office equipment and accessories (including computers) that relate to the
ownership, operation, use or maintenance of the Assets, other than that located at the Facilities; and 
 (i) Without limiting
the obligations under Sections 6.8, all rights to claim coverage or benefits under any insurance policies or coverage applicable to the JV, the Entities or the Assets, including self-insurance and insurance obtained through a captive
insurance carrier, but excluding any such rights to recover amounts that are included in the calculation of Net Working Capital. 
 “Exhibits” shall mean any and/or all of the exhibits attached to and made a part of this Agreement. 
 “Execution Date” shall have the meaning given such term in the opening paragraph of this Agreement. 
 “Facilities” shall have the meaning given such term within the definition of Assets. 
 “FCV” shall mean Fuels Cotton Valley Gathering, LLC, a Delaware limited liability company. 
 “Final Settlement Statement” shall have the meaning given such term in Section 3.3. 
 “Former Gulf South Properties” shall mean the former Gulf South gathering facilities located in Shelby, Panola and Harrison Counties, Texas and Caddo Parish, Louisiana, which are
generally depicted on the System Map, and which were acquired by DCP Midstream, LP or its Affiliates on March 31, 2005. 

“Former UP Fuels Properties” shall mean the former UP Fuels gathering and processing facilities located in Panola,
Shelby, Harrison and Rusk Counties, Texas, and Caddo and DeSoto Parishes, Louisiana, which are generally depicted on the System Map, and which were acquired by DCP Midstream, LP or its Affiliates on April 1, 1999. 

“GAAP” means generally accepted accounting principles in the United States as of the date hereof, consistently applied.

 “GP” shall have the meaning given such term in the introductory paragraph. 

“Governmental Authorities” shall mean (a) the United States of America or any state or political subdivision
thereof within the United States of America and (b) any court or any governmental or administrative department, commission, board, bureau or agency of the United States of America or of any state or political subdivision thereof within the
United States of America. 

  
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 “Hazardous Materials” shall mean: (a) any wastes, chemicals, materials
or substances defined or included in the definition of “hazardous substances,” “hazardous materials,” “toxic substances,” “solid wastes,” “pollutants,” “contaminants,” or words of similar
import, under any Environmental Law; (b) any hydrocarbon or petroleum or component thereof, (including, without limitation, crude oil, natural gas, natural gas liquids, or condensate that is not reasonably and commercially recoverable;
(c) oil and gas exploration or production wastes including produced water; (d) radioactive materials (other than naturally occurring radioactive materials), friable asbestos, mercury, lead based paints and polychlorinated biphenyls,
(e) any other chemical, material or substance, exposure to which is prohibited, limited or regulated by any Governmental Authority; or (f) any regulated constituents or substances in concentrations or levels that exceed numeric or
risk-based standards established pursuant to Environmental Laws. 
 “Hedge” shall mean that certain financial
swap transaction, with MLP as the fixed price payor and HOLDINGS (or its Affiliate that is acceptable to MLP) as the floating price payor for the period of January 1, 2012 through December 31, 2012. 

“Hedge Confirmation” shall mean the document used to evidence the Hedge in the form of Exhibit C. 

“HOLDINGS” shall have the meaning given such term in the introductory paragraph. 

“HOLDINGS’ Indemnitees” shall have the meaning given such term in Section 10.1. 

“HOLDINGS’ Knowledge” or the “Knowledge of HOLDINGS” or any similar term, shall mean the actual
knowledge of (a) any officer of HOLDINGS having a title of Vice President or higher, and (b) the individuals listed on Schedule 1.1(b). 
 “HOLDINGS’ Required Consents” shall have meaning given such term in Section 4.4(a). 
 “Indemnified Party” or “Indemnitee” shall have the meaning given such term in Section 10.4(a). 

“Indemnifying Party” or “Indemnitor” shall have the meaning given such term in
Section 10.4(a). 
 “Independent Accountants” shall mean Deloitte & Touche. 

“Intellectual Property” shall have the meaning given such term in the definition of Assets. 

“Interest Rate” shall mean three (3) months LIBOR plus one-half percent (0.5%) basis points. 

“JV” shall have the meaning given such term in the Recitals. 

  
 7 

 “JV LLC Agreement” shall mean the Amended and Restated Limited Liability
Company Agreement of DCP East Texas Holdings, LLC dated July 1, 2007, and from and after the Effective Time, as amended and restated by the Second Amended and Restated Limited Liability Company Agreement, dated April 1, 2009. 

“Laws” shall mean all applicable statutes, laws (including common law), regulations, rules, rulings, ordinances, orders,
restrictions, requirements, writs, judgments, injunctions, decrees and other official acts of or by any Governmental Authority. 

“Lien” shall mean any lien, mortgage, pledge, claim, charge, security interest or other encumbrance, option or defect on
title. 
 “LIBOR” shall mean the British Bankers’ Association interbank offered rates as of 11:00 a.m.
London time for deposits in Dollars that appear on the relevant page of the Reuters service (currently page LIBOR01) or, if not available, on the relevant pages of any other service (such as Bloomberg Financial Markets Service) that displays such
British Bankers’ Association rates. 
 “Limited Partnership Agreement” shall mean the Second Amended and
Restated Agreement of Limited Partnership of MLP dated as of November 1, 2006, as amended by Amendment No. 1 dated as of April 11, 2008, and Amendment No. 2 dated as of April 1, 2009, and as may be amended from and after the
Effective Time. 
 “Loss” or “Losses” shall mean any and all damages, demands, payments,
obligations, penalties, assessments, disbursements, claims, costs, liabilities, losses, causes of action, and expenses, including interest, awards, judgments, settlements, fines, fees, costs of defense and reasonable attorneys’ fees, costs of
accountants, expert witnesses and other professional advisors and costs of investigation and preparation of any kind or nature whatsoever. 
 “Material Adverse Effect” shall mean a single event, occurrence or fact, or series of events, occurrences or facts, that, alone or together with all other events, occurrences or facts
(a) would have an adverse change in or effect on the Entities or the Assets (including the cost to remedy, replace or obtain same) taken as a whole, in excess of $8,250,000 or (b) would result in the prohibition or material delay in the
consummation of the transactions contemplated by this Agreement, excluding (in each case) matters that are generally industry-wide developments or changes or effects resulting from changes in Law or general economic, regulatory or political
conditions. 
 “Material Casualty Loss” shall have the meaning given such term in Section 6.2.

 “Materiality Condition” shall have the meaning given such term in Section 10.5. 

“MIDSTREAM” shall have the meaning given such term in the introductory paragraph. 

“MLP” shall have the meaning given such term in the introductory paragraph. 

“MLP Indemnitees” shall have the meaning given such term in Section 10.2. 

  
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 “MLP’s Knowledge” or the “Knowledge of MLP” or any
similar term, shall mean the actual knowledge of any officer of MLP having a title of Vice President or higher. 
 “MLP
Required Consents” shall have the meaning given such term in Section 5.4. 
 “Net Working
Capital” means, as to the JV, and determined as of the Effective Time, an amount (which may be positive or negative) equal to (i) the total current assets of the JV and its Subsidiaries minus (ii) the total current
liabilities of the JV and its Subsidiaries, in each case determined in accordance with GAAP, as adjusted for the Reserved Liabilities. 
 “New Capital Projects” shall have the meaning given such term in Section 6.8(c). 
 “Notice Period” shall have the meaning given such term in Section 10.4(c) 
 “Ordinary Course of Business” shall mean the ordinary course of business consistent with past practices. 
 “Permits” shall have the meaning given such term in the definition of Assets. 
 “Permitted Encumbrances” shall mean the following: 
 (a) the
terms, conditions, restrictions, exceptions, reservations, limitations, and other matters contained in any document creating the Real Property Interests, or in any Permit or Contract; 

(b) Liens for property Taxes and assessments that are not yet due and payable (or that are being contested in good faith by appropriate
Proceedings for which adequate reserves in accordance with GAAP have been established on the books of account of the applicable Entity); 
 (c) mechanic’s, materialmen’s, repairmen’s and other statutory Liens arising in the Ordinary Course of Business and securing obligations incurred prior to the Effective Time and
(i) for which adequate reserves in accordance with GAAP have been established on the books of account of the applicable Entity, or (ii) that are not delinquent and that will be paid and discharged in the Ordinary Course of Business or, if
delinquent, that are being contested in good faith with any action to foreclose on or attach any Assets on account thereof properly stayed and for which adequate reserves in accordance with GAAP have been established on the books of account of the
applicable Entity; 
 (d) utility easements, restrictive covenants, defects and irregularities in title, encumbrances,
exceptions and other matters that are of record that, singularly or in the aggregate, will not materially interfere with the ownership, use or operation of the Assets to which they pertain; 

(e) required Third Person consents to assignment, preferential purchase rights and other similar agreements with respect to which
consents or waivers are obtained from the appropriate Person for the transaction contemplated hereby prior to Closing or, as to which the appropriate time for asserting such rights has expired as of the Closing without an exercise of such rights;

  
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 (f) any Post-Closing Consent; 

(g) Liens created by MLP or its successors or assigns; and 
 (h) the Liens listed on Schedule 1.1(c). 
 “Person” shall
mean any natural person, corporation, company, partnership (general or limited), limited liability company, trust, joint venture, joint stock company, unincorporated organization, or other entity or association. 

“Personal Property” shall have the meaning given such term in the definition of Assets. 

“Post-Closing Consents” shall mean consents or approvals from, or filings with Governmental Authorities or consents from
railroads customarily obtained following the closing of transactions involving the transfer of assets similar to those owned by the Entities, as listed on Schedule 4.4. 
 “Pre-Closing Tax Period” shall mean, with respect to the Entities, any taxable period ending on or prior to the Closing Date. 

“Preliminary Settlement Statement” shall have the meaning given such term in Section 3.2. 

“Prior Contribution Agreements” shall mean those certain Contribution Agreements dated May 23, 2007 and
February 24, 2009 among HOLDINGS, MIDSTREAM, GP and MLP. 
 “Prior Contribution Agreement Closing Date”
shall mean July 1, 2007 or April 1, 2009, as applicable. 
 “Proceeding” shall mean any action, suit,
claim, investigation, review or other judicial or administrative proceeding, at Law or in equity, before or by any Governmental Authority or arbitration or other dispute resolution proceeding. 

“Qualified Claims” shall have the meaning given such term in Section 10.3(b)(iii). 

“Real Property Interests” shall have the meaning given such term in the definition of Assets. 

“Records” shall have the meaning given such term in the definition of Assets. 

“Reserved Liabilities” shall mean Losses, and with respect to clauses (iii), (iv) and (v), capital expenditures
(but only to the extent not reflected in Net Working Capital) with respect to: 
 (i) except for sales, transfer, use or similar
Taxes that are due or should hereafter become due (including penalty and interest thereon) by reason of the conveyances and transactions contemplated by this Agreement, 49.9% of the amount of Taxes with respect to the Entities or the Assets (for the
avoidance of doubt, excepting all Taxes of HOLDINGS, MIDSTREAM or their partners) to the extent related to periods prior to and including the Closing Date; 

  
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 (ii) disposal of Hazardous Materials at offsite locations (a) which were delivered from
the East Texas System (excluding the Former Gulf South Properties) between April 1, 1999 and the Closing Date and (b) which were delivered from the Former Gulf South Properties between March 31, 2005 and the Closing Date; provided,
however, that the Reserved Liabilities shall only include 49.9% of this form of Loss to the extent disposal occurred after the latest Prior Contribution Agreement Closing Date; 

(iii) the Excluded Assets and Taxes related thereto; and 
 (iv) those matters, if any, described on Schedule 1.1(d). 
 (v) 49.9% of
the Assumed Capital Project Amount described on Schedule 6.8(b). 
 “Schedules” shall mean any and/or
all of the schedules attached to and made a part of this Agreement. 
 “Securities Act” shall mean the
Securities Act of 1933, as amended. 
 “Settlement Notice” shall have the meaning given such term in
Section 3.4. 
 “Subject Interests” shall have the meaning given such term in the Recitals.

 “Subject Interests Assignment Agreements” shall mean the Assignment Agreements in substantially the forms of
Exhibit A covering the conveyance of the Subject Interests by each of HOLDINGS and GP to MLP. 

“Subsidiary” means, with respect to any Person, (a) any corporation, of which a majority of the total voting power
of shares of stock entitled (without regard to the occurrence of any contingency) to vote generally in the election of directors thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person or a combination thereof or (b) any limited liability company, partnership, association or other business entity, of which a majority of the partnership or other similar ownership interests thereof is at the time
owned or controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination thereof. 
 “System Map” shall collectively mean the maps depicting the East Texas System, which maps are attached as Schedule 1.1(e). 

“Tax” or “Taxes” shall mean any federal, state, local or foreign income tax, ad valorem tax, excise
tax, sales tax, use tax, franchise tax, real or personal property tax, transfer tax, gross receipts tax or other tax, assessment, duty, fee, levy or other governmental charge, together with and including, any and all interest, fines, penalties,
assessments, and additions to Tax resulting from, relating to, or incurred in connection with any of those or any contest or dispute thereof. 

  
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 “Tax Authority” shall mean any Governmental Authority having jurisdiction
over the payment or reporting of any Tax. 
 “Tax Benefits” means the amount by which the Tax liability of the
Indemnified Party or any of its Affiliates for a taxable period is actually reduced (including by deduction, reduction in income upon a sale, disposition or other similar transaction as a result of increased tax basis, receipt of a refund of Taxes
or use of a credit of Taxes) plus any related interest (net of Taxes payable thereon) received from the relevant Tax Authority, as a result of the incurrence, accrual or payment of any Loss or Tax with respect to which the indemnification payment is
being made. 
 “Tax Return” shall mean any report, statement, form, return or other document or information
required to be supplied to a Tax Authority in connection with Taxes. 
 “Third Person” shall mean (i) any
Person other than a Party or its Affiliates, and (ii) any Governmental Authority. 
 “Third Person Awards”
shall mean any actual recoveries from Third Persons by the Indemnified Party (including from insurance and third-party indemnification) in connection with the claim for which such party is also potentially liable. 

“Total Net Working Capital” means the amount (which may be positive or negative) equal to the product of the Net Working
Capital multiplied by 49.9%. 
 “Transaction Documents” shall mean the Subject Interests Assignment Agreements
such certificate or other documents as are necessary to transfer the Unit Consideration to HOLDINGS and GP pursuant to Section 2.2, the Hedge Confirmation, that certain Thirteenth Amendment to Omnibus Agreement by and among DCP
Midstream, LLC, DCP Midstream GP, LLC, DCP Midstream GP, LP, DCP Midstream Partners, LP, and DCP Midstream Operating, LP, and any other document related to the sale, transfer, assignment or conveyance of the Subject Interests to be delivered at
Closing. 
 “Treasury Regulations” shall mean regulations promulgated under the Code. 

“Units” shall mean the common units representing limited partner interests in the MLP. 

“Unit Consideration” shall have the meaning given such term Section 2.2. 

1.2 Other Definitional Provisions. As used in this Agreement, unless expressly stated otherwise or the context requires otherwise,
(a) all references to an “Article,” “Section,” or “subsection” shall be to an Article, Section, or subsection of this Agreement, (b) the words “this Agreement,” “hereof,”
“hereunder,” “herein,” “hereby,” or words of similar import shall refer to this Agreement as a whole and not to a particular Article, Section, subsection, clause or other subdivision hereof, (c) the words used
herein shall include the masculine, feminine and neuter gender, and the singular and the plural, (d) the word “including” means “including, without limitation” and (e) the word “day” or “days” means
a calendar day or days, unless otherwise denoted as a Business Day. 

  
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 1.3 Headings. The headings of the Articles and Sections of this Agreement and of the
Schedules and Exhibits are included for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction or interpretation hereof or thereof. 

1.4 Other Terms. Other terms may be defined elsewhere in the text of this Agreement and shall have the meaning indicated
throughout this Agreement. 
 ARTICLE II 
 CONTRIBUTION OF THE SUBJECT INTERESTS, 
 ISSUANCE OF THE UNITS AND
CONSIDERATION 
 2.1 The Transaction. Upon the terms and subject to the conditions of this Agreement, at the Closing,
but effective for all purposes as of the Effective Time, HOLDINGS and GP shall contribute to MLP the Subject Interests and the Hedge in exchange for the issuance of the consideration to HOLDINGS and GP pursuant to Section 2.2, and MLP
shall assume and thereafter timely perform and discharge in accordance with their respective terms, all Assumed Obligations. 

2.2 Consideration. In consideration of HOLDINGS’ and GP’s contribution of the Subject Interests and the Hedge, MLP shall
(i) issue and deliver to HOLDINGS and GP at the Closing one or more certificates duly registered in the names of HOLDINGS and GP and representing Units having an aggregate value of $33,000,000 with the number of Units determined by dividing
$33,000,000 by the volume weighted average price of the Units during the ten trading days prior to the Closing Date (such Units being referred to herein collectively as, the “Unit Consideration”) and (ii) distribute an amount
of cash to HOLDINGS and GP, in the aggregate, equal to the sum of (A) $132,000,000, (B) the Total Net Working Capital as of the Effective Time, and (C) 49.9% of amounts paid or accrued between the Execution Date and the Closing by
MIDSTREAM, HOLDINGS or GP for New Capital Projects (the “Cash Consideration”); provided, however, if the sum set forth in Section 2.2(ii) is a negative number, such value shall be paid by HOLDINGS and GP to MLP at
the Closing, and provided, further, that to the extent cash is distributed pursuant to Section 2.2(ii), such amounts shall be allocated between and paid to HOLDINGS and GP in proportion to the number of Units issued to each
of them. 
 ARTICLE III 
 ADJUSTMENTS AND SETTLEMENT 
 3.1 Adjustments. 

(a) The value of the Total Net Working Capital shall be subject to cash adjustments pursuant to this ARTICLE III.

 (b) The Parties shall use all Commercially Reasonable Efforts to agree upon the adjustments set forth in this
ARTICLE III, and to resolve any differences with respect thereto. Except as provided herein, no adjustments shall be made after delivery of the Final Settlement Statement. 

  
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 (c) The Total Net Working Capital shall be further adjusted by providing for
a credit to MLP in the amount of $351,945 for the Assumed Obligation set forth in Schedule 4.14(1). 
 3.2 Preliminary
Settlement Statement. Not later than five (5) business days before the Closing Date, and after consultation with MLP, HOLDINGS shall deliver to MLP a written statement (the “Preliminary Settlement Statement”) setting forth
the Total Net Working Capital and each component therein, as determined in good faith by HOLDINGS that are described in the definition thereof, with HOLDINGS’ calculation of such items in reasonable detail, based on information then available
to HOLDINGS. The Preliminary Settlement Statement shall also set forth wire transfer instructions for the Closing payments. Payment of the Total Net Working Capital at the Closing shall be based on the Preliminary Settlement Statement. 

3.3 Final Settlement Statement. No later than ninety (90) days after the Closing Date and after consultation with MLP,
HOLDINGS shall deliver to MLP a revised settlement statement showing in reasonable detail its calculation of the items described in the definition of Total Net Working Capital along with other adjustments or payments contemplated in this Agreement
(said revised statement and the calculation thereof shall be referred to as the “Final Settlement Statement”). 

3.4 Dispute Procedures. The Final Settlement Statement shall become final and binding on the Parties on the 45th day following the
date the Final Settlement Statement is received by MLP, unless prior to such date MLP delivers written notice to HOLDINGS of its disagreement with the Final Settlement Statement (a “Settlement Notice”). Any Settlement Notice shall
set forth MLP’s proposed changes to the Final Settlement Statement, including an explanation in reasonable detail of the basis on which MLP proposes such changes. If MLP has timely delivered a Settlement Notice, MLP and HOLDINGS shall use good
faith efforts to reach written agreement on the disputed items. If the disputed items have not been resolved by MLP and HOLDINGS by the 30th day following HOLDINGS’ receipt of a Settlement Notice, any remaining disputed items shall be submitted
to the Independent Accountants for resolution within ten (10) Business Days after the end of the foregoing 30-day period. The fees and expenses of the Independent Accountants shall be borne fifty percent (50%) by HOLDINGS and fifty percent
(50%) by MLP. The Independent Accountants’ determination of the disputed items shall be final and binding upon the Parties, and the Parties hereby waive any and all rights to dispute such resolution in any manner, including in court,
before an arbiter or appeal. 
 3.5 Payments. If the final calculated amount as set forth in the Final Settlement
Statement exceeds the estimated calculated amount as set forth in the Preliminary Settlement Statement, then MLP shall pay to HOLDINGS and GP the aggregate amount of such excess, with interest at the Interest Rate (calculated from the Closing Date).
If the final calculated amount as set forth in the Final Settlement Statement is less than the estimated calculated amount as set forth in the Preliminary Settlement Statement, then HOLDINGS and GP shall pay to MLP the aggregate the amount of such
excess, with interest at the Interest Rate (calculated from the Closing Date). Any payment shall be made within three (3) Business Days of the date the Final Settlement Statement becomes final pursuant to Section 3.4. 

  
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 3.6 Access to Records. The Parties shall grant to each other full access to the
Records and relevant personnel to allow each of them to make evaluations under this ARTICLE III. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF HOLDINGS 
 HOLDINGS represents and warrants to MLP as follows: 
 4.1 Organization, Good
Standing, and Authority. 
 (a) GP is a limited partnership duly formed, validly existing and in good
standing under the Laws of the State of Delaware. The execution and delivery of this Agreement and the other Transaction Documents to which GP is a party and the consummation by GP of the transactions contemplated herein and therein have been duly
and validly authorized by all necessary limited partnership action by GP. This Agreement has been duly executed and delivered by GP. GP has all requisite limited partnership power and authority to enter into and perform this Agreement and the other
Transaction Documents to which it is a party, to perform its obligations hereunder and thereunder and to carry out the transactions contemplated herein and therein. 

(b) Each of HOLDINGS and MIDSTREAM is a limited liability company duly formed, validly existing and in good standing under
the Laws of the State of Delaware. The execution and delivery of this Agreement and the other Transaction Documents to which HOLDINGS and MIDSTREAM is a party and the consummation by HOLDINGS and MIDSTREAM of the transactions contemplated herein and
therein have been duly and validly authorized by all necessary limited liability company action by HOLDINGS and MIDSTREAM, respectively. This Agreement has been duly executed and delivered by HOLDINGS and MIDSTREAM. Each of HOLDINGS and MIDSTREAM
has all requisite limited liability company power and authority to enter into and perform this Agreement and the other Transaction Documents to which it is a party, to perform its obligations hereunder and thereunder and to carry out the
transactions contemplated herein and therein. 
 4.2 Enforceability. This Agreement constitutes and, upon execution of
and delivery by HOLDINGS, GP and MIDSTREAM of the other Transaction Documents to which it is a party, such Transaction Documents will constitute, valid and binding obligations of HOLDINGS, GP and MIDSTREAM, enforceable against such Parties in
accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other similar Laws affecting creditor’s rights generally and general principles of equity. 

4.3 No Conflicts. The execution, delivery and performance by HOLDINGS, GP and MIDSTREAM of this Agreement, and the execution,
delivery and performance by HOLDINGS, GP and MIDSTREAM of the other Transaction Documents to which it is a party and the consummation of the transactions contemplated hereby or thereby, will not: 

(a) Provided all of HOLDINGS’ Required Consents and Post Closing Consents have been obtained, conflict with,
constitute a breach, violation or termination 

  
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of, give rise to any right of termination, cancellation or acceleration of or result in the loss of any right or benefit under, any agreements to which HOLDINGS, GP, MIDSTREAM or the Entities is
a party or by which any of them, the Subject Interests or the Assets are bound; 
 (b) Conflict with or violate
the limited liability company agreements of MIDSTREAM, JV, HOLDINGS, or GP; and 
 (c) Provided that all of
HOLDINGS’ Required Consents and Post Closing Consents have been obtained, violate any Law applicable to HOLDINGS, GP, MIDSTREAM or the Assets. 
 4.4 Consents, Approvals, Authorizations and Governmental Regulations. 
 (a) Except (i) for Post-Closing Consents, and (ii) as set forth in Schedule 4.4 (the items described in clause (ii) referred to as the “HOLDINGS’ Required
Consents”); no order, consent, waiver, permission, authorization or approval of, or exemption by, or the giving of notice to or the registration or filing with any Third Person, is necessary for HOLDINGS, GP or MIDSTREAM to execute, deliver
and perform this Agreement or for HOLDINGS, GP or MIDSTREAM to execute, deliver and perform the other Transaction Documents to which it is a party. 
 (b) Except as set forth in Schedule 4.4, (i), all material permits, licenses, certificates, orders, approvals, authorizations, grants, consents, concessions, warrants, franchises and similar rights
and privileges, of all Governmental Authorities required or necessary for the Entities to own and operate its Assets in the places and in the manner currently owned or operated, have been obtained, and are in full force and effect,
(ii) HOLDINGS and its Affiliates have received no written notification concerning, and there are no violations that are in existence with respect to the permits and (iii) no Proceeding is pending or threatened with respect to the
revocation or limitation of any of the permits. Notwithstanding anything herein to the contrary, the provisions of this Section 4.4(b) shall not relate to or cover any matter relating to or arising out of any Environmental Laws (an
“Environmental Matter”), which shall be governed by Section 4.14. 
 4.5 Taxes. Except as
set forth in Schedule 4.5: 
 (a) JV has not and will not on or prior to the Closing Date, file an
election under Treasury Regulation §301.7701-3 to be classified as a corporation for U.S. federal income tax purposes. Since the date of their formation until Closing, DETG, FCV and ET have been and will be business entities that will be
disregarded for federal Tax purposes under Treasury Regulation §§301.7701-2 and -3; 
 (b) Except with
respect to ad valorem Taxes for the year in which Closing occurs, all Taxes due and owing or claimed to be due and owing (whether such claim is asserted before or after the Effective Time) from or against any Entity relating to the Assets, or the
operation thereof, prior to the Effective Time have been or will be timely paid in full by, for or on behalf or with respect to the Entity owing such Tax; 

  
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 (c) All withholding Tax and Tax deposit requirements imposed with respect to
the JV, the Entities, and applicable to the Assets, or the operation thereof, for any and all periods or portions thereof ending prior to the Effective Time have been or will be timely satisfied in full by for or on behalf or with respect to the
Entity owing such Tax; 
 (d) All Tax Returns that are required to be timely filed for, by, on behalf of or with
respect to the Entities, before the Effective Time have been or will be filed with the appropriate Governmental Authority; all Taxes shown to be due and payable on such Tax Returns have been or will be paid in full by, for or on behalf or with
respect to the Entity owing such Tax; 
 (e) None of the Entities is under Tax audit or Tax examination by any
Governmental Authority. There are no Claims now pending or, to the Knowledge of HOLDINGS, threatened against the Entities with respect to any Tax or any matters under discussion with any Governmental Authority relating to any Tax; 

(f) None of the Entities (i) has agreed to make, nor is required to make, any adjustment under Section 481 of
the Code or any comparable provision of state, local or foreign Law by reason of a change in accounting method or otherwise, and (ii) is a party to or bound by (or will become a party to or bound by) any Tax sharing, Tax indemnity or Tax
allocation agreement; and 
 (g) The JV has made an election under Section 754 of the Code. 

4.6 Litigation; Compliance with Laws. 
 (a) There is no injunction, restraining order or Proceeding pending against HOLDINGS, GP, or MIDSTREAM that restrains or prohibits the consummation of the transactions contemplated by this Agreement.

 (b) Except for the litigation and Claims identified on Schedule 4.6, there is no written Claim,
investigation or examination pending, or to the Knowledge of HOLDINGS and GP, threatened, against or affecting the Entities (or their respective assets) before or by any Third Person. 

(c) To HOLDINGS’ Knowledge, the Assets have been owned and operated in compliance with applicable Laws, except for
any non-compliance which has been timely brought into compliance therewith. Notwithstanding anything herein to the contrary, the provisions of this Section 4.5(d)6(c) shall not relate to or cover any Environmental Matters, which shall be
governed by Section 4.14. 
 4.7 Contracts. All of the Contracts that are material to the business of the
Entities, taken as a whole, are listed on Schedule 4.7, with the exception of interests in real property. The Entities are not in default and there is no event or circumstance that with notice, or lapse of time or both, would constitute an
event of default by the applicable Entity under the terms of the Contracts. All of the Contracts of the Entities are in full force and effect and to HOLDINGS’ Knowledge, no counter-party to any of the Contracts is in default under the terms of
such Contracts. Schedule 4.7 lists each Contract that: 

  
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 (a) expressly obligates an Entity to pay an amount of $500,000 (to the 100%
interest) or more and has not been fully performed as of the date hereof; 
 (b) expressly restricts the ability
of an Entity to compete or otherwise to conduct its business in any manner or place; 
 (c) provides for the sale
of products or the provision of services (for a term greater than a year) for amounts in excess of $500,000 (to the 100% interest and including outstanding offers or quotes which by acceptance would create such a Contract) and which have not been
fully performed as of the date hereof; 
 (d) provides a right of first refusal or other restrictive right that
limits the ability to transfer, sell or assign an interest in an asset or an equity interest in a Person; 
 (e)
is a master agreement, swap, derivative, option, future or similar type Contract or any open agreement or position thereunder; 
 (f) is with any current or former employee, officer, director or consultant of HOLDINGS or an Entity or their respective Affiliates; 

(g) is an inter-company agreement; 

(h) is with any labor union or association; 

(i) is a partnership or joint venture agreement with a Third Person in which one of HOLDINGS or an Entity or their
respective Affiliates is a party or by which any of them are bound; 
 (j) is an agreement with a consideration
in excess of $500,000 (to the 100% interest) by an Entity to purchase or sell any assets (other than inventory in the Ordinary Course of Business), businesses, capital stock or other debt or equity securities of any Person; or 

(k) is an agreement with a consideration in excess of $500,000 (to the 100% interest) involving the merger, consolidation,
purchase, sale, transfer or other disposition of interests in real property, capital stock or other debt or equity securities of any Person prior to Closing. 
 4.8 Title to Assets; Intellectual Property. Except for the Permitted Encumbrances, each of the Entities has Defensible Title to those of the Assets that it operates, free and clear of all Liens,
and: 
 (a) none of HOLDINGS or the Entities has received any written notice of infringement, misappropriation or
conflict with respect to Intellectual Property from any Person with respect to the ownership, use or operation of the Assets; and 

  
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 (b) the ownership, use and operation of the Assets have not infringed,
misappropriated or otherwise conflicted with any patents, patent applications, patent rights, trademarks, trademark applications, service marks, service mark applications, copyrights, trade names, unregistered copyrights or trade secrets of any
other Person. 
 4.9 [Reserved]. 
 4.10 [Reserved]. 
 4.11 Preferential Rights to Purchase. Except as
listed in Schedule 4.11, there are no preferential or similar rights to purchase any portion of the Entities or Assets that will be triggered by this Agreement or the transactions contemplated herein. 

4.12 Broker’s or Finder’s Fees. No investment banker, broker, finder or other Person is entitled to any brokerage or
finder’s fee or similar commission in respect thereof based in any way on agreements, arrangements or understandings made by or on behalf of HOLDINGS or any of its Affiliates. 

4.13 Compliance with Property Instruments. To HOLDINGS’ Knowledge and except as set forth in Schedule 4.13,
(a) all of the instruments creating the Real Property Interests are presently valid, subsisting and in full force and effect; (b) there are no violations, defaults or breaches thereunder, or existing facts or circumstances which upon
notice or the passage of time or both will constitute a violation, default or breach thereunder; and (c) the Assets are currently being operated and maintained in compliance with all terms and provisions of the instruments creating the Real
Property Interests. None of HOLDINGS or its Affiliates has received or given any written notice of default or claimed default under any such instruments and is not participating in any negotiations regarding any material modifications thereof.

 4.14 Environmental Matters. Except as set forth in Schedule 4.14: 

(a) to HOLDINGS’ Knowledge, HOLDINGS and its Affiliates have not caused or allowed the generation, use, treatment,
manufacture, storage, or disposal of Hazardous Materials at, on or from the Assets, except in accordance with all applicable Environmental Laws; 
 (b) to HOLDINGS’ Knowledge, there has been no release of any Hazardous Materials at, on, from or underlying any of the Assets other than such releases that (i) are not required to be reported to
a Governmental Authority, (ii) have been reported to the appropriate Governmental Authority or (iii) were in compliance with applicable Environmental Laws; 

(c) to HOLDINGS’ Knowledge, the Entities have secured all permits required under Environmental Laws for the
ownership, use and operation of the Assets and the Entities are in compliance with such permits; 

  
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 (d) HOLDINGS and its Affiliates have not received written inquiry or notice
of any actual or threatened Claim related to or arising under any Environmental Law relating to the Assets; 

(e) none of HOLDINGS or the Entities is currently operating or required to be operating any of the Assets under any
compliance order, a decree or agreement, any consent decree or order, or corrective action decree or order issued by or entered into with any Governmental Authority under any Environmental Law or any Law regarding health or safety in the work place;

 (f) to HOLDINGS’ Knowledge, the Entities have owned, used and operated the Assets in compliance with
Environmental Laws, except for any non-compliance which has been remediated and brought into compliance with Environmental Laws; and 
 (g) to HOLDINGS’ Knowledge, none of the off-site locations where Hazardous Materials from any of the Assets have been transported, stored, treated, recycled, disposed of or released has been
designated as a facility that is subject to a Claim under any Environmental Laws. 
 4.15 Employee Matters. At no time
prior to the Effective Time will the Entities have had any employees. 
 4.16 Benefit Plan Liabilities. At no time prior
to the Effective Time will the Entities have maintained any Benefit Plans. At the Effective Time, the Entities shall have no liability with respect to any Benefit Plans. 
 4.17 No Foreign Person. None of HOLDINGS or GP is a “foreign person” as defined in Section 1445 of the Code and in any regulations promulgated thereunder. 

4.18 Capitalization of the Subject Interests. 

(a) The Subject Interests (i) constitute 49.9% of the outstanding ownership interests in the JV, (ii) were duly
authorized, validly issued, fully paid and non-assessable and (iii) were not issued in violation of any pre-emptive rights. 
 (b) HOLDINGS and GP, as applicable, has good and valid title to the Subject Interests conveyed by each of them and, except as provided or created by its limited liability company agreement or other
organizational or governance documents, the Securities Act or applicable securities Laws, the Subject Interests are free and clear of any (i) restrictions on transfer, Taxes, Liens, Claims, or Proceedings or (ii) encumbrances, options,
warrants, purchase rights, contracts, commitments, equities or demands to the extent any of the same contain or create any right to acquire all or any right in or to the Subject Interests. 

(c) There are no existing rights, agreements or commitments of any character obligating the Entities to issue, transfer or
sell any additional ownership rights or interests or any other securities (debt, equity or otherwise) convertible into or exchangeable for such ownership rights or interests or repurchase, redeem or otherwise acquire any such interest. 

  
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 4.19 Subsidiaries and Other Equity Interests. As of Closing, the JV will not have any
Subsidiaries or own, directly or indirectly, any equity interest in any other Person except the limited liability company interests listed on Schedule 4.19. 
 4.20 Bank Accounts. Except as set forth on Schedule 4.20, FCV, DETG and ET (and as of Closing, the JV), have no accounts or safe-deposit boxes with banks, trust companies, savings and loan
associations, or other financial institutions. 
 4.21 [Reserved]. 

4.22 [Reserved]. 
 4.23 Investment Intent. Each of HOLDINGS and GP is acquiring the Unit Consideration for its own account, and not with a view to, or for sale in connection with, the distribution thereof in
violation of state or federal Law. Each of HOLDINGS and GP acknowledges that the Unit Consideration has not been registered under the Securities Act or the securities Laws of any state and neither HOLDINGS nor GP has any obligation or right to
register the Unit Consideration except as set forth in the Limited Partnership Agreement. Without such registration, the Unit Consideration may not be sold, pledged, hypothecated or otherwise transferred unless it is determined that registration is
not required. Each of HOLDINGS and GP, itself or through its officers, employees or agents, has sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of an investment such as an
investment in the Units, and each of HOLDINGS and GP, either alone or through its respective officers, employees or agents, has evaluated the merits and risks of the investment in the Units. 

4.24 Undisclosed Liabilities. To HOLDINGS’ Knowledge, there are no liabilities or obligations of the JV (whether known or
unknown and whether accrued, absolute, contingent or otherwise) and there are no facts or circumstances that would reasonably be expected to result in any such liabilities or obligations, other than (i) liabilities or obligations disclosed,
reflected or reserved against in the annual financial statements of the JV, and (ii) current liabilities incurred in the Ordinary Course of Business since October 1, 2011. 

4.25 No Other Representations or Warranties; Schedules. HOLDINGS makes no other express or implied representation or warranty with
respect to the Entities or any of their respective Affiliates, the Assets or the transactions contemplated by this Agreement, and disclaims any other representations or warranties. The disclosure of any matter or item in any schedule to this
Agreement shall not be deemed to constitute an acknowledgment that any such matter is required to be disclosed. 

  
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 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES OF MLP 
 MLP hereby represents and warrants
to HOLDINGS: 
 5.1 Organization, Good Standing, and Authorization. MLP is a limited partnership duly formed, validly
existing and in good standing under the Laws of the State of Delaware. MLP has all requisite limited partnership power and authority to enter into and perform this Agreement and the Transaction Documents to which it is a party, to perform its
obligations hereunder and thereunder and to carry out the transactions contemplated herein and therein. The execution and delivery of this Agreement and the Transaction Documents to which it is a party and the consummation by MLP of the transactions
contemplated herein have been duly and validly authorized by all necessary limited partnership action by MLP. This Agreement has been duly executed and delivered by MLP. 
 5.2 Enforceability. This Agreement constitutes, and upon execution and delivery of the Transaction Documents to which MLP is a party, such Transaction Documents will constitute, valid and binding
obligations of MLP, enforceable against MLP in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other similar Laws affecting creditor’s rights generally and general principles of equity.

 5.3 No Conflicts. The execution, delivery and performance by MLP of this Agreement and the Transaction Documents and
the consummation of the transactions contemplated hereby or thereby, will not: 
 (a) provided that any MLP
Required Consents and Post-Closing Consents have been obtained, conflict with, constitute a breach, violation or termination of, give rise to any right of termination, cancellation or acceleration of or result in the loss of any right or benefit
under, any agreement to which MLP is a party; 
 (b) conflict with or violate the Limited Partnership Agreement
or result in the creation of a Lien on the Units; or 
 (c) provided that all of the MLP Required Consents and
Post Closing Consents have been obtained, violate any Law applicable to MLP. 
 5.4 Consents, Approvals, Authorizations and
Governmental Regulations. Except (i) for Post-Closing Consents, and (ii) as set forth in Schedule 5.4 (the items described in clause (ii) being referred to as the “MLP Required Consents”), no order,
consent, waiver, permission, authorization or approval of, or exemption by, or the giving of notice to or registration or filing with, any Third Person, is necessary for MLP to execute, deliver and perform this Agreement or the Transaction Documents
to which it will be a party. 
 5.5 Litigation. There is no injunction, restraining order or Proceeding pending against
MLP that restrains or prohibits the consummation of the transactions contemplated by this Agreement. 
 5.6 Independent
Investigation. MLP is knowledgeable in the business of owning and operating natural gas and natural gas liquids facilities and has had access to the Assets, the representatives of HOLDINGS and its Affiliates, and to the records of HOLDINGS and
its Affiliates with respect to the Assets. MLP ACKNOWLEDGES THAT THE ASSETS ARE IN THEIR “AS IS, WHERE IS” CONDITION AND STATE OF REPAIR, AND WITH ALL 

  
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FAULTS AND DEFECTS, AND THAT, EXCEPT AS EXPRESSLY SET OUT IN THIS AGREEMENT, HOLDINGS HAS MADE NO REPRESENTATION OR WARRANTY OF ANY KIND OR NATURE, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT
NOT LIMITED TO, WARRANTIES OF MARKETABILITY, QUALITY, CONDITION, CONFORMITY TO SAMPLES, MERCHANTABILITY, AND/OR FITNESS FOR A PARTICULAR PURPOSE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED BY HOLDINGS AND EXCEPT AS SET FORTH IN THIS AGREEMENT, WAIVED BY
MLP. MLP FURTHER ACKNOWLEDGES THAT: (I) THE ASSETS HAVE BEEN USED FOR NATURAL GAS AND NATURAL GAS LIQUIDS OPERATIONS AND PHYSICAL CHANGES IN THE ASSETS AND IN THE LANDS BURDENED THEREBY MAY HAVE OCCURRED AS A RESULT OF SUCH USES; (II) THE
ASSETS MAY INCLUDE BURIED PIPELINES AND OTHER EQUIPMENT, THE LOCATIONS OF WHICH MAY NOT BE KNOWN BY HOLDINGS OR READILY APPARENT BY A PHYSICAL INSPECTION OF THE ASSETS OR THE LANDS BURDENED THEREBY; (III) MLP SHALL HAVE INSPECTED PRIOR TO CLOSING,
OR SHALL BE DEEMED TO HAVE WAIVED ITS RIGHTS TO INSPECT, THE ASSETS AND THE ASSOCIATED PREMISES, AND SATISFIED ITSELF AS TO THEIR PHYSICAL AND ENVIRONMENTAL CONDITION, AND THAT MLP SHALL, SUBJECT TO THE OTHER PROVISIONS OF THIS AGREEMENT, ACCEPT ALL
OF THE SAME IN THEIR “AS IS, WHERE IS” CONDITION AND STATE OF REPAIR, AND WITH ALL FAULTS AND DEFECTS, INCLUDING, BUT NOT LIMITED TO, THE PRESENCE OF MAN-MADE MATERIAL FIBERS AND THE PRESENCE, RELEASE OR DISPOSAL OF HAZARDOUS MATERIALS.
EXCEPT AS EXPRESSLY SET OUT IN THIS AGREEMENT, HOLDINGS MAKES NO REPRESENTATION OR WARRANTY, EXPRESS, IMPLIED OR STATUTORY, AS TO (A) THE ACCURACY OR COMPLETENESS OF ANY DATA OR RECORDS DELIVERED TO MLP WITH RESPECT TO THE SUBJECT INTERESTS,
INCLUDING, WITHOUT LIMITATION, ANY DESCRIPTION OF THE SUBJECT INTERESTS, PRICING ASSUMPTIONS, QUALITY OR QUANTITY OF THE SUBJECT INTERESTS, FREEDOM FROM PATENT OR TRADEMARK INFRINGEMENT OR (B) FUTURE VOLUMES OF HYDROCARBONS OR OTHER PRODUCTS
TRANSPORTED, TREATED, STORED OR PROCESSED THROUGH OR AT THE ASSETS. With respect to any projection or forecast delivered by or on behalf of HOLDINGS or its Affiliates to MLP, MLP acknowledges that (i) there are uncertainties inherent in
attempting to make such projections and forecasts, (ii) MLP is familiar with such uncertainties, (iii) MLP is taking full responsibility for making its own evaluation of the adequacy and accuracy of all such projections and forecasts
furnished to MLP and (iv) MLP will not have a claim against HOLDINGS or any of its advisors or Affiliates with respect to such projections or forecasts. 
 5.7 Broker’s or Finder’s Fees. No investment banker, broker, finder or other Person is entitled to any brokerage or finder’s fee or similar commission in respect thereof based in any
way on agreements, arrangements or understandings made by or on behalf of MLP or any of its Affiliates which is, or following the Closing would be, an obligation of HOLDINGS or any of its Affiliates. 

5.8 Investment Intent. MLP is acquiring the Subject Interests for its own account, and not with a view to, or for sale in
connection with, the distribution thereof in violation of state 

  
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or federal Law. MLP acknowledges that the Subject Interests have not been registered under the Securities Act or the securities Laws of any state and neither HOLDINGS nor any of its Affiliates
has any obligation to register the Subject Interests. Without such registration, the Subject Interests may not be sold, pledged, hypothecated or otherwise transferred unless it is determined that registration is not required. MLP, itself or through
its officers, employees or agents, has sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of an investment such as an investment in the Subject Interests, and MLP, either alone or
through its officers, employees or agents, has evaluated the merits and risks of the investment in the Subject Interests. 
 5.9
Available Funds. MLP will have at Closing, sufficient cash to enable it to make payment in immediately available funds of the cash amount specified in Section 2.2(ii) when due and any other amounts to be paid by it hereunder.

 ARTICLE VI 
 COVENANTS 
 6.1 Conduct of Business. HOLDINGS and MIDSTREAM each
covenants and agrees that from and after the execution of this Agreement and until the Closing: 
 (a) Without
the prior written consent of MLP, (i) HOLDINGS will not, and will not permit the Entities to sell, transfer, assign, convey or otherwise dispose of any Assets other than (A) the transfer of the Excluded Assets; (B) the sale of
inventory in the Ordinary Course of Business or (C) the sale or other disposition of equipment or other Personal Property which is replaced with equipment or other Personal Property of comparable or better value and utility; (ii) except
for the existing Capital Projects, modify in any respect the East Texas System that will require a capital expenditure in excess of $1,000,000 (as to the 100% interest); (iii) make any adverse change in its sales, credit or collection terms and
conditions relating to the Assets; (iv) do any act or omit to do any act which will cause a material breach in any Contract; or (v) unless disputed in good faith, fail to pay when due all amounts owed under the Contracts; 

(b) HOLDINGS will not allow the Entities to create or permit the creation of any Lien on any Asset other than Permitted
Encumbrances; 
 (c) If HOLDINGS becomes aware of any event or development that it reasonably believes is likely
to cause a material breach or default hereunder or to have a Material Adverse Effect, it will give prompt written notice to MLP; and 
 (d) HOLDINGS will and will cause the Entities to: 
 (i) maintain
and operate the Assets in the Ordinary Course of Business, including regular scheduled maintenance plans and capital expenditures, and pay or cause to be paid all costs and expenses in connection therewith when due; 

  
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 (ii) carry on its business in respect of the Assets in substantially the
same manner as it has heretofore; 
 (iii) use reasonable efforts to preserve its business in respect of the
Assets intact, to keep available the services of the employees involved in the conduct of such business and to preserve the goodwill of customers having business relations with the applicable Entities in respect of the Assets, in each case, in all
material respects; 
 (iv) not abandon any of the Assets or liquidate, dissolve, recapitalize or otherwise wind
up its business; 
 (v) comply in all material respects with all of the rules, regulations and orders of any
Governmental Authority applicable to the Assets; 
 (vi) timely file, properly and accurately make in all
material respects all reports and filings required to be filed with the appropriate Governmental Authority; and 

(vii) pay all Taxes with respect to the Assets which come due and payable prior to the Closing Date; 

(viii) not make, amend or revoke any material election with respect to Taxes; 

(ix) not amend its organizational documents; 

(x) not make any material change in any method of accounting or accounting principles, practices or policies, other than
those required by GAAP; 
 (xi) not issue or sell any equity interests, notes, bonds or other securities or
incur, assume or guarantee any indebtedness for borrowed money, or any option, warrant or right to acquire same; 

(xii) not (A) merge or consolidate with any Person; or (B) make any loan to any Person (other than extensions of
credit to customers in the Ordinary Course of Business and inter-company loans under DCP Midstream, LLC’s cash management system); and 
 (xiii) maintain in full force and effect insurance policies covering the Assets. 
 (xiv) with respect to the Contracts, not enter into any financial derivatives that would be Assumed Obligations unless the same are in compliance with MIDSTREAM’s risk management guidelines.

 6.2 Casualty Loss. HOLDINGS shall promptly notify MLP of any Casualty Loss of which HOLDINGS becomes aware prior to
the Closing. If a Casualty Loss occurs and such 

  
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Casualty Loss would reasonably be expected to have a Material Adverse Effect (a “Material Casualty Loss”), MLP shall have the right to extend the Closing Date for up to
(45) days for the purpose of repairing or replacing the Assets destroyed or damaged by the Material Casualty Loss. The costs to repair or replace the Assets destroyed or damaged by the Material Casualty Loss shall be shared by the Parties in
the same percentage of their respective ownership interest in the JV. Any insurance, condemnation or taking proceeds as a result of a Casualty Loss occurring prior to Closing shall be split 49.9% to HOLDINGS and GP and 50.1% to MLP, and each Party
shall execute such assignments, releases, resolutions or other documents as may be necessary to vest such proceeds in the persons and percentages set forth above. 
 6.3 Access, Information and Access Indemnity. 
 (a) Prior to
Closing, HOLDINGS will make available at HOLDINGS’ offices to MLP and MLP’s authorized representatives for examination as MLP may reasonably request, all Records; provided, however, such material shall not include (i) any proprietary
data which relates to another business of HOLDINGS or its Affiliates and is not primarily used in connection with the continued ownership, use or operation of the Assets, (ii) any information subject to Third Person confidentiality agreements
for which a consent or waiver cannot be secured by HOLDINGS or its Affiliates after reasonable efforts, or (iii) any information which, if disclosed, would violate an attorney-client privilege or would constitute a waiver of rights as to
attorney work product or attorney-client privileged communications. 
 (b) Subject to subsection
(a) above, HOLDINGS shall permit MLP and MLP’s authorized representatives to consult with employees of HOLDINGS and its Affiliates during the business hours of 8:00 a.m. to 5:00 p.m. (local time), Monday through Friday and to conduct,
at MLP’s sole risk and expense, inspections and inventories of the Assets and to examine all Records over which HOLDINGS and its Affiliates have control. HOLDINGS shall also coordinate, in advance, with MLP to allow site visits and inspections
at the field sites on Saturdays unless operational conditions would reasonably prohibit such access. 
 (c) MLP
SHALL PROTECT, DEFEND, INDEMNIFY AND HOLD THE HOLDINGS’ INDEMNITEES HARMLESS FROM AND AGAINST ANY AND ALL CLAIMS AND LOSSES OCCURRING ON OR TO THE ASSETS CAUSED BY THE ACTS OR OMISSIONS OF MLP, MLP’S AFFILIATES OR ANY PERSON ACTING ON
MLP’S OR ITS AFFILIATES’ BEHALF IN CONNECTION WITH ANY DUE DILIGENCE CONDUCTED PURSUANT TO OR IN CONNECTION WITH THIS AGREEMENT PRIOR TO CLOSING, INCLUDING ANY SITE VISITS AND ENVIRONMENTAL SAMPLING; PROVIDED, HOWEVER, THE FOREGOING
OBLIGATION OF MLP SHALL NOT APPLY WITH RESPECT TO ANY ENVIRONMENTAL CONDITIONS TO THE EXTENT EXISTING PRIOR TO THE CONDUCT OF SUCH DUE DILIGENCE WHICH ARE DISCOVERED DURING SUCH DUE DILIGENCE. MLP shall comply in all material respects with all
rules, regulations, policies and instructions issued by HOLDINGS, GP or any Third Person operator regarding MLP’s actions prior to Closing while upon, entering or leaving any property included in the Assets, including any insurance requirements
that HOLDINGS may impose on contractors authorized to perform work on any property owned or operated by HOLDINGS. 

  
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 6.4 Limitation on Casualty Losses and Other Matters. Notwithstanding any provision
herein to the contrary, if either HOLDINGS or MLP reasonably determines that the anticipated aggregate value of any Casualty Losses and a good faith estimate of HOLDINGS’ liability with respect to breaches of representations and warranties of
which either HOLDINGS or MLP has provided notice to the other prior to Closing, exceeds $8,250,000, then such Party shall provide written notice to the other of such determination together with the notifying Party’s calculations of the
estimated costs, payments, reductions and liabilities supporting such determination. Notwithstanding Section 9.1(c) upon the other Party’s receipt of such notice, the Party receiving the notice shall have the right to terminate this
Agreement at any time prior to Closing upon ten (10) days written notice to the other Party. 
 6.5 Supplements to
Exhibits and Schedules. HOLDINGS may, from time to time, by written notice to MLP at any time prior to the Closing Date, supplement or amend the Exhibits and Schedules to correct any matter that would constitute a breach of any representation or
warranty of HOLDINGS herein contained. MLP shall have a minimum of five (5) Business Days to review such supplement or amendment and the Closing shall be extended as required to allow MLP to do so; provided, however, if MLP reasonably
determines that any individual new disclosure item set forth in any such supplement or amendment would increase the amount of the Assumed Obligations by more than $50,000, then MLP shall notify HOLDINGS of such determination together with MLP’s
calculations of such increase in the amount of the Assumed Obligations. Promptly upon HOLDINGS’ receipt of such written notice, the Parties shall endeavor in good faith to agree to a value to be paid by HOLDINGS to MLP therefor or other
mutually agreeable remedy to address the matters which are the subject of such supplement(s) and amendment(s) to the Exhibits and Schedules. If within fifteen (15) days of HOLDINGS’ receipt of such written notice, the Parties have not
agreed to a value to be paid by HOLDINGS to MLP therefore or another mutually agreeable remedy, MLP shall have the right to terminate this Agreement at any time during the five (5) Business Days following the expiration of such fifteen
(15) day period by provision of written notice to HOLDINGS. Notwithstanding any other provision hereof, if the Closing occurs, any such supplement or amendment will be effective to cure and correct for all purposes any breach of any
representation or warranty that would have existed if such supplement or amendment had not been made. 
 6.6 Preservation of
Records. For a period of seven (7) years after the Closing Date, the Party in possession of the originals of the Records will retain such Records at its sole cost and expense and will make such Records available to the other Party to the
extent pertaining to such other Parties’ obligations hereunder upon reasonable notice for inspection and/or copying, at the expense of the requesting Party, at the headquarters of the Party in possession (or at such other location in the United
States as the Party in possession may designate in writing to the other Party) at reasonable times and during regular office hours. MLP agrees that HOLDINGS may retain a copy of the Records to the extent such Records pertain to its obligations
hereunder. 
 6.7 [Reserved]. 
 6.8 Capital Projects. 

  
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 (a) One or more of the Entities is undertaking the ongoing construction of
the natural gas gathering systems, inlet liquid handling facilities, and flare systems described on Schedule 6.8(a) (the “Capital Projects”). MIDSTREAM or its Affiliates shall continue to pursue the construction, on the
JV’s behalf, of the Capital Projects through the Effective Time, and, from and after the Effective Time until the third anniversary thereof, HOLDINGS will reimburse MLP on a monthly basis solely for those costs and expenses incurred by the JV
or MLP to complete the Capital Projects that are attributable to the Subject Interests. 
 (b) One or more of the
Entities is undertaking certain ongoing construction and environmental projects set forth on Schedule 6.8(b) that will be assumed by MLP at the Effective Time (the “Assumed Capital Projects”). MIDSTREAM or its Affiliates
shall continue to pursue the construction, on the JV’s behalf, the Assumed Capital Projects through the Effective Time. The Parties will agree on the final amount remaining to be spent on the Assumed Capital Projects (the “Assumed
Capital Projects Amount”) as of the Effective Time and shall revise Schedule 6.8(b) accordingly at the Closing. MIDSTREAM or its Affiliates shall reimburse MLP for its 49.9% interest in the Assumed Capital Projects Amount in four equal
quarterly installments beginning with the first quarter following the Closing Date. 
 (c) Notwithstanding
anything to the contrary set forth in this Agreement, other than with respect to Reserved Liabilities any other capital expenditures for projects or maintenance capital (but excluding capital expenditures related to the Capital Projects or Casualty
Losses) (collectively, the “New Capital Projects”) incurred between the Execution Date and Closing and attributable to the Subject Interests shall be reimbursed by MLP to HOLDINGS as provided in Section 2.2. 

6.9 [Reserved]. 
 6.10 Tax Covenants; Preparation of Tax Returns. The MLP shall cause the JV to prepare and file, or cause to be prepared and filed, all Tax Returns required to be filed by the Entities and also
shall cause the JV to cause the Entities to pay the Taxes shown to be due thereon; provided, however, that MIDSTREAM shall promptly reimburse the MLP for the portion of such Tax attributable to the Subject Interests that relates to a Pre-Closing Tax
Period, to the extent not accrued in the Final Settlement Statement. MIDSTREAM shall furnish to the MLP all information and records reasonably requested by the MLP for use in preparation of any Tax Returns. The Parties shall cause the MLP to allow
MIDSTREAM to review, comment upon and reasonably approve without undue delay any Tax Return at any time during the twenty (20) day period immediately preceding the filing of such Tax Return. 

6.11 Further Assurances. On and after the Closing Date, the Parties shall cooperate and use their respective reasonable commercial
efforts to take or cause to be taken all appropriate actions and do, or cause to be done, all things necessary or appropriate to make effective the transactions contemplated hereby, including the execution of any additional assignment or similar
documents or instruments of transfer of any kind, the obtaining of consents which may be reasonably necessary or appropriate to carry out any of the provisions hereof and the taking of all such other actions as such party may reasonably be requested
to take by the other party hereto from to time to time, consistent with the terms of this Agreement, in order to effectuate the provisions and purposes of this Agreement and contemplated transactions. 

  
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 ARTICLE VII 
 CONDITIONS TO CLOSING 
 7.1 HOLDINGS’/GP’s Conditions. The
obligation of HOLDINGS and GP to close is subject to the satisfaction of the following conditions, any of which may be waived in HOLDINGS’ sole discretion: 
 (a) The representations of MLP contained in ARTICLE V shall be true, in all material respects (or, in the case of representations or warranties that are already qualified by a materiality standard, shall
be true in all respects) on and as of Closing. 
 (b) MLP shall have performed in all material respects the
obligations, covenants and agreements of MLP contained herein. 
 (c) There is no injunction, restraining order
or Proceeding pending against HOLDINGS or the Entities that restrains or prohibits the consummation of the transactions contemplated by this Agreement. 
 (d) All of HOLDINGS’ Required Consents and MLP’s Required Consents shall have been obtained. 
 (e) MLP shall have made all deliveries in accordance with Section 8.2(b). 
 7.2 MLP’s Conditions. The obligation of MLP to close is subject to the satisfaction of the following conditions, any of which may be waived in its sole discretion: 

(a) The representations of HOLDINGS contained in ARTICLE IV shall be true, in all material respects (or in the case of
representations or warranties that are already qualified by a materiality standard, shall be true in all respects) on and as of the Closing. 
 (b) HOLDINGS shall have performed, in all material respects, the obligations, covenants and agreements of HOLDINGS contained herein. 

(c) There is no injunction, restraining order or Proceeding pending against HOLDINGS or the Entities that restrains or
prohibits the consummation of the transactions contemplated by this Agreement. 
 (d) All of HOLDINGS’
Required Consents and MLP’s Required Consents shall have been obtained. 
 (e) There shall have been no
events or occurrences that could reasonably be expected to have a Material Adverse Effect. 
 (f) HOLDINGS shall
have delivered all documents in accordance with Section 8.2(a) 

  
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 7.3 Exceptions. Notwithstanding the provisions of Sections 7.1(a) and
7.1(b) and (a) and (b) no Party shall have the right to refuse to close the transaction contemplated hereby by reason of this ARTICLE VII unless (a) in the case of HOLDINGS and GP , the sum of all representations
of MLP contained in ARTICLE V which are not true and all obligations, covenants and agreements which MLP has failed to perform, would reasonably be expected to have a Material Adverse Effect; and (b) in the case of MLP, the sum of all
representations of HOLDINGS and GP contained in ARTICLE IV which are not true and all obligations, covenants and agreements which HOLDINGS and GP has failed to perform, would reasonably be expected to have a Material Adverse Effect. 

ARTICLE VIII 
 CLOSING 
 8.1 Time and Place of Closing. The consummation of the
transactions contemplated by this Agreement (the “Closing”) shall take place in the offices of MIDSTREAM in Denver, Colorado at 9:00 a.m. Denver time on or before December 1, 2011 (unless such date is otherwise extended by
either HOLDINGS or MLP as permitted hereunder); or such other time and place as the Parties agree to in writing (the “Closing Date”), and shall be effective as of the Effective Time. 

8.2 Deliveries at Closing. At the Closing, 

(a) HOLDINGS and GP, as applicable, will execute and deliver or cause to be executed and delivered to MLP: 

(i) Each of the Transaction Documents to which HOLDINGS, GP or Affiliates are a party; 

(ii) Certificates of a corporate officer or other authorized person dated the Closing Date, certifying on behalf of
HOLDINGS and GP that the conditions in Sections 7.2(a) and 7.2(b) have been fulfilled. 
 (b) MLP
will execute and deliver or cause to be executed and delivered to HOLDINGS and GP: 
 (i) Each of the Transaction
Documents to which MLP or MLP’s Affiliates are a party; 
 (ii) A certificate of a corporate officer or
other authorized person dated the Closing Date certifying on behalf of MLP that the conditions in Sections 7.1(a) and 7.1(b) have been fulfilled; 
 (iii) Certificates of Common Units, determined in accordance with Sections 2.2; 
 (iv) A wire transfer to HOLDINGS and GP of the amounts due with respect to the Cash Consideration (as set forth in the Preliminary Settlement Statement). 

  
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 ARTICLE IX 
 TERMINATION 
 9.1 Termination. This Agreement may be terminated and
the transactions contemplated hereby abandoned as follows: 
 (a) HOLDINGS and MLP may elect to terminate this
Agreement at any time prior to the Closing by mutual written consent thereof; 
 (b) Either HOLDINGS or MLP by
written notice to the other may terminate this Agreement if the Closing shall not have occurred on or before January 31, 2012; provided, however, that neither Party may terminate this Agreement if such Party is at such time in material breach
of any provision of this Agreement; 
 (c) HOLDINGS and MLP may each terminate this Agreement at any time on or
prior to the Closing if either MLP, on the one hand, or HOLDINGS, on the other hand, shall have materially breached any representations, warranties or covenants thereof herein contained with the sum of such breach or breaches reasonably expected to
have a Material Adverse Effect and the same is not cured within thirty (30) days after receipt of written notice thereof from the applicable non-breaching Party; provided, however, that neither Party may terminate this Agreement if such Party
is at such time in material breach of any representations, warranties or covenants of such Party; and 
 (d) In
addition to the foregoing, any Party may terminate this Agreement to the extent such termination is expressly authorized by another provision of this Agreement. 
 9.2 Effect of Termination Prior to Closing. If Closing does not occur as a result of any Party exercising its right to terminate pursuant to Section 9.1, then no Party shall have any
further rights or obligations under this Agreement, except that (i) nothing herein shall relieve any Party from any liability for any willful breach of this Agreement, and (ii) the provisions of ARTICLE XI shall survive any termination of
this Agreement. 
 ARTICLE X 
 INDEMNIFICATION 
 10.1 Indemnification by MLP. Effective upon
Closing, MLP shall defend, indemnify and hold harmless HOLDINGS and its Affiliates, and all of its and their directors, officers, employees, partners, members, contractors, agents, and representatives (collectively, the “HOLDINGS
Indemnitees”) from and against any and all Losses asserted against, resulting from, imposed upon or incurred by any of the HOLDINGS Indemnitees as a result of or arising out of: 

(a) the breach of any of the representations or warranties under ARTICLE IV; 

(b) the breach of any covenants or agreements of MLP contained in this Agreement; and 

  
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 (c) to the extent that HOLDINGS is not required to indemnify any of the MLP
Indemnitees pursuant to Section 10.2, the Assumed Obligations. 
 10.2 Indemnification by HOLDINGS. Effective
upon Closing, HOLDINGS shall defend, indemnify and hold harmless MLP and its Affiliates, and all of its and their directors, officers, employees, partners, members, contractors, agents, and representatives (collectively, the “MLP
Indemnitees”) from and against any and all Losses asserted against, resulting from, imposed upon or incurred by any of the MLP Indemnitees as a result of or arising out of: 

(a) the breach of any of the representations or warranties under ARTICLE IV (other than Sections 4.1, 4.2,
4.12 and 4.18), 
 (b) with respect to the Former UP Fuels Properties, Claims by Governmental
Authorities asserted within two (2) years after Closing to the extent related to fines and penalties for periods between April 1, 2009 and Closing for its pro rata ownership interest of the JV prior to the Closing; 

(c) with respect to the Former Gulf South Properties, Claims by Governmental Authorities asserted within two
(2) years after Closing to the extent related to fines and penalties for periods between March 31, 2005 and Closing; 
 (d) to the extent and subject to any limitations provided therein, any matters set forth on Schedule 10.2(e); 

(e) the breach of any of the representations or warranties under Sections 4.1, 4.2, 4.12 and
4.18 or the covenants or agreements of HOLDINGS contained in this Agreement; and 
 (f) any Reserved
Liabilities. 
 10.3 Deductibles, Caps, Survival and Certain Limitations. 

(a) Subject to this Section 10.3, all representations, warranties, covenants and indemnities made by the
Parties in this Agreement or pursuant hereto shall survive the Closing as hereinafter provided, and shall not be merged into any instruments or agreements delivered at Closing. 

(b) With respect to the obligations of HOLDINGS: 

(i) under Sections 10.2(a) or 10.2(b) none of the MLP Indemnitees shall be entitled to assert any right to
indemnification after one (1) year from the Closing; 
 (ii) under Section 10.2(c) or
10.2(d), none of the MLP Indemnitees shall be entitled to assert any right to indemnification after two (2) years from the Closing; 

  
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 (iii) under Section 10.2(a), none of the MLP Indemnitees shall
be entitled to assert any right to indemnification unless the individual claim or series of related claims which arise out of substantially the same facts and circumstances exceeds $100,000 (“Qualified Claims”); 

(iv) under Section 10.2(a), none of the MLP Indemnitees shall be entitled to assert any right to
indemnification unless Qualified Claims for which indemnity is only provided under Section 10.2(a) shall in the aggregate exceed $1,650,000 and then only to the extent that all such Qualified Claims exceed said amount; 

(v) under Section 10.2(a), none of the MLP Indemnitees shall be entitled to indemnification for any amount in
excess of $16,500,000; and 
 (vi) Any indemnification or payment obligations of HOLDINGS under
Section 10.2 resulting from HOLDINGS’ breach of its representations, warranties, covenants or agreements, shall be limited to Losses that are attributable to the Subject Interests or to the transactions pursuant to which MLP
acquires the Subject Interests under this Agreement, and MLP shall have no right to assert any claim under this Agreement related to the 50.1% member interest in the JV that was acquired under the Prior Contribution Agreements. Notwithstanding the
foregoing, the indemnification rights of MLP and any MLP Indemnitee under the Prior Contribution Agreements shall not be terminated or impaired by any provision of this Agreement, including, without limitation, MLP’s or any MLP
Indemnitee’s right to be indemnified for HOLDINGS’ breach of any representation, warranty, covenant or agreement under the Prior Contribution Agreements. 

(c) Any claim for indemnity under this Agreement made by a Party Indemnitee shall be in writing, be delivered in good
faith prior to the expiration of the respective survival period under Section 10.3(b) (to the extent applicable), and specify in reasonable detail the specific nature of the claim for indemnification hereunder (“Claim
Notice”). Any such claim that is described in a timely (if applicable) delivered Claim Notice shall survive with respect to the specific matter described therein. 

(d) Notwithstanding anything contained herein to the contrary, in no event shall HOLDINGS be obligated under this
Agreement to indemnify (or be otherwise liable hereunder in any way whatsoever to) any of the MLP Indemnitees with respect to a breach of any representation or warranty, if MLP had Knowledge thereof at Closing and failed to notify HOLDINGS of such
breach prior to Closing. Unless HOLDINGS or a Third Person shall have made a claim or demand or it appears reasonably likely that such a claim or demand will be made, MLP shall not take any voluntary action that is intended by MLP to cause a Claim
to be initiated that would be subject to indemnification by HOLDINGS. 
 (e) All Losses indemnified hereunder
shall be determined net of any (i) Third Person Awards, (ii) Tax Benefits; and (iii) amount which specifically pertains to such Loss and is reflected in the calculations of the amounts set forth on the Final Settlement Statement.

  
 33 

 10.4 Notice of Asserted Liability; Opportunity to Defend. 

(a) All claims for indemnification hereunder shall be subject to the provisions of this Section 10.4. Any
person claiming indemnification hereunder is referred to herein as the “Indemnified Party” or “Indemnitee” and any person against whom such claims are asserted hereunder is referred to herein as the “Indemnifying Party”
or “Indemnitor.” 
 (b) If any Claim is asserted against or any Loss is sought to be collected from an
Indemnified Party, the Indemnified Party shall with reasonable promptness provide to the Indemnifying Party a Claim Notice. The failure to give any such Claim Notice shall not otherwise affect the rights of the Indemnified Party to indemnification
hereunder unless the Indemnified Party has proceeded to contest, defend or settle such Claim or remedy such a Loss with respect to which it has failed to give a Claim Notice to the Indemnifying Party, but only to the extent the Indemnifying Party is
prejudiced thereby. Additionally, to the extent the Indemnifying Party is prejudiced thereby, the failure to provide a Claim Notice to the Indemnifying Party shall relieve the Indemnifying Party from liability for such Claims and Losses that it may
have to the Indemnified Party, but only to the extent the liability for such Claims or Losses is directly attributable to such failure to provide the Claim Notice. 

(c) The Indemnifying Party shall have thirty (30) days from the personal delivery or receipt of the Claim Notice (the
“Notice Period”) to notify the Indemnified Party (i) whether or not it disputes the liability to the Indemnified Party hereunder with respect to the Claim or Loss, and in the event of a dispute, such dispute shall be resolved
in the manner set forth in Section 11.9 hereof, (ii) in the case where Losses are asserted against or sought to be collected from an Indemnifying Party by the Indemnified Party, whether or not the Indemnifying Party shall at its own
sole cost and expense remedy such Losses or (iii) in the case where Claims are asserted against or sought to be collected from an Indemnified Party, whether or not the Indemnifying Party shall at its own sole cost and expense defend the
Indemnified Party against such Claim; provided however, that any Indemnified Party is hereby authorized prior to and during the Notice Period to file any motion, answer or other pleading that it shall deem necessary or appropriate to protect its
interests or those of the Indemnifying Party (and of which it shall have given notice and opportunity to comment to the Indemnifying Party) and not prejudicial to the Indemnifying Party. 

(d) If the Indemnifying Party does not give notice to the Indemnified Party of its election to contest and defend any such
Claim described in Section 10.4(c)(iii) within the Notice Period, then the Indemnifying Party shall be bound by the result obtained with respect thereto by the Indemnified Party and shall be responsible for all costs incurred in
connection therewith. 
 (e) If the Indemnifying Party is obligated to defend and indemnify the Indemnified
Party, and the Parties have a conflict of interest with respect to any such 

  
 34 

 
Claim, then the Indemnified Party may, in its sole discretion, separately and independently contest and defend such Claim, and the Indemnifying Party shall be bound by the result obtained with
respect thereto by the Indemnified Party and shall be responsible for all costs incurred in connection therewith. 
 (f) If the Indemnifying Party notifies the Indemnified Party within the Notice Period that it shall defend the Indemnified Party against a Claim, the Indemnifying Party shall have the right to defend all
appropriate Proceedings, and with counsel of its own choosing (but reasonably satisfactory to the Indemnified Party) and such Proceedings shall be promptly settled (subject to obtaining a full and complete release of all Indemnified Parties) or
prosecuted by it to a final conclusion. If the Indemnified Party desires to participate in, but not control, any such defense or settlement it may do so at its sole cost and expense. If the Indemnified Party joins in any such Claim, the Indemnifying
Party shall have full authority to determine all action to be taken with respect thereto, as long as such action could not create a liability to any of the Indemnified Parties, in which case, such action would require the prior written consent of
any Indemnified Party so affected. 
 (g) If requested by the Indemnifying Party, the Indemnified Party agrees to
cooperate with the Indemnifying Party and its counsel in contesting any Claim and in making any counterclaim against the Third Person asserting the Claim, or any cross-complaint against any person as long as such cooperation, counterclaim or
cross-complaint could not create a liability to any of the Indemnified Parties. 
 (h) At any time after the
commencement of defense by Indemnifying Party under Section 10.4(f) above of any Claim, the Indemnifying Party may request the Indemnified Party to agree in writing to the abandonment of such contest or to the payment or compromise by
the Indemnifying Party of the asserted Claim, but only if the Indemnifying Party agrees in writing to be solely liable for such Claim; whereupon such action shall be taken unless the Indemnified Party determines that the contest should be continued
and notifies the Indemnifying Party in writing within fifteen (15) days of such request from the Indemnifying Party. If the Indemnified Party determines that the contest should be continued, the amount for which the Indemnifying Party would
otherwise be liable hereunder shall not exceed the amount which the Indemnifying Party had agreed to pay to compromise such Claim; provided that, the other Person to the contested Claim had agreed in writing to accept such amount in payment or
compromise of the Claim as of the time the Indemnifying Party made its request therefor to the Indemnified Party, and further provided that, under such proposed compromise, the Indemnified Party would be fully and completely released from any
further liability or obligation with respect to the matters which are the subject of such contested Claim. 
 10.5
Materiality Conditions. For purposes of determining whether an event described in this ARTICLE X has occurred for which indemnification under this ARTICLE X can be sought, any requirement in any representation, warranty, covenant or agreement
by HOLDINGS or MLP, as applicable, contained in this Agreement that an event or fact be “material,” “Material,” meet a certain minimum dollar threshold or have a “Material Adverse Effect” or a material adverse effect
(each a “Materiality Condition”) in order for such event or fact to constitute a misrepresentation or breach of such representation, warranty, covenant or agreement 

  
 35 

 
under this Agreement, such Materiality Condition shall be disregarded and such representations, warranties, covenants or agreements shall be construed solely for purposes of this ARTICLE X as if
they did not contain such Materiality Conditions. Notwithstanding anything in this Section 10.5, any claim for indemnification under this ARTICLE X will be subject to Section 10.3. 

10.6 Exclusive Remedy. AS BETWEEN THE MLP INDEMNITEES AND THE HOLDINGS INDEMNITEES, AFTER CLOSING (A) THE EXPRESS
INDEMNIFICATION PROVISIONS SET FORTH IN THIS AGREEMENT, WILL BE THE SOLE AND EXCLUSIVE RIGHTS, OBLIGATIONS AND REMEDIES OF THE PARTIES WITH RESPECT TO SAID AGREEMENT AND THE EVENTS GIVING RISE THERETO, AND THE TRANSACTIONS PROVIDED FOR THEREIN OR
CONTEMPLATED THEREBY (OTHER THAN THE OTHER TRANSACTION DOCUMENTS AND THE PRIOR CONTRIBUTION AGREEMENTS) AND (B) NO PARTY HERETO NOR ANY OF ITS RESPECTIVE SUCCESSORS OR ASSIGNS SHALL HAVE ANY RIGHTS AGAINST ANY OTHER PARTY OR ITS AFFILIATES WITH
RESPECT TO THE TRANSACTIONS PROVIDED FOR HEREIN OTHER THAN AS IS EXPRESSLY PROVIDED IN THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, AND THE PRIOR CONTRIBUTION AGREEMENTS. 
 10.7 Negligence and Strict Liability Waiver. WITHOUT LIMITING OR ENLARGING THE SCOPE OF THE INDEMNIFICATION OBLIGATIONS SET FORTH IN THIS AGREEMENT, AN INDEMNIFIED PARTY SHALL BE ENTITLED TO
INDEMNIFICATION UNDER THIS AGREEMENT IN ACCORDANCE WITH THE TERMS HEREOF, REGARDLESS OF WHETHER THE LOSS OR CLAIM GIVING RISE TO SUCH INDEMNIFICATION OBLIGATION IS THE RESULT OF THE SOLE, CONCURRENT OR COMPARATIVE NEGLIGENCE, STRICT LIABILITY, OR
VIOLATION OF ANY LAW OF OR BY SUCH INDEMNIFIED PARTY. 
 10.8 Limitation on Damages. NOTWITHSTANDING ANYTHING TO THE
CONTRARY IN THIS AGREEMENT, IN NO EVENT SHALL ANY OF HOLDINGS, GP OR MLP BE LIABLE TO THE OTHER, OR TO THE OTHERS’ INDEMNITEES, UNDER THIS AGREEMENT FOR ANY EXEMPLARY, PUNITIVE, REMOTE, SPECULATIVE, CONSEQUENTIAL, SPECIAL OR INCIDENTAL DAMAGES
OR LOSS OF PROFITS; PROVIDED THAT, IF ANY OF THE HOLDINGS INDEMNITEES OR MLP INDEMNITEES IS HELD LIABLE TO A THIRD PERSON FOR ANY SUCH DAMAGES AND THE INDEMNITOR IS OBLIGATED TO INDEMNIFY SUCH HOLDINGS INDEMNITEES OR MLP INDEMNITEES FOR THE MATTER
THAT GAVE RISE TO SUCH DAMAGES, THE INDEMNITOR SHALL BE LIABLE FOR, AND OBLIGATED TO REIMBURSE SUCH INDEMNITEES FOR SUCH DAMAGES. 
 10.9 Bold and/or Capitalized Letters. THE PARTIES AGREE THAT THE BOLD AND/OR CAPITALIZED LETTERS IN THIS AGREEMENT CONSTITUTE CONSPICUOUS LEGENDS. 

  
 36 

 ARTICLE XI 
 MISCELLANEOUS PROVISIONS 
 11.1 Expenses. Unless otherwise
specifically provided for herein, each Party will bear its own costs and expenses (including legal fees and expenses) incurred in connection with the negotiation of this Agreement and the transactions contemplated hereby; provided that HOLDINGS will
bear the cost of all Post-Closing Consents which must be obtained from any railroad. 
 11.2 Further Assurances. From
time to time, and without further consideration, each Party will execute and deliver to the other Party such documents and take such actions as the other Party may reasonably request in order to more effectively implement and carry into effect the
transactions contemplated by this Agreement. 
 11.3 Transfer Taxes. The Parties believe that the contribution of the
Subject Interests as provided for herein is exempt from or is otherwise not subject to any sales, use, transfer, or similar Taxes. If any such sales, transfer, use or similar Taxes are due or should hereafter become due (including penalties and
interest thereon) by reason of this transaction, MLP shall timely pay and solely bear all such type of Taxes. 
 11.4
Assignment. Neither Party may assign this Agreement or any of its rights or obligations arising hereunder without the prior written consent of the other Party; provided, however, MLP shall be permitted to assign this Agreement to an Affiliate
prior to Closing, provided, that, notwithstanding such assignment, MLP shall continue to remain responsible for all obligations of MLP hereunder following such assignment. 
 11.5 Entire Agreement, No Amendment of Prior Contribution Agreements, Amendments and Waiver. This Agreement, together with the Transaction Documents and all certificates, documents, instruments and
writings that are delivered pursuant hereto and thereto contain the entire understanding of the Parties with respect to the transactions contemplated hereby and supersede all prior agreements, arrangements and understandings relating to the subject
matter hereof. Except as specified in Section 6.8, no term, provision or aspect of this Agreement or of any other Transaction Document shall have the effect of terminating, amending, extending, or enlarging or limiting the scope or
intent, or of in any manner superseding the Prior Contribution Agreements or the transactions documents executed in connection therewith. This Agreement may be amended, superseded or canceled only by a written instrument duly executed by the Parties
specifically stating that it amends, supersedes or cancels this Agreement. Any of the terms of this Agreement and any condition to a Party’s obligations hereunder may be waived only in writing by that Party specifically stating that it waives a
term or condition hereof. No waiver by either Party of any one or more conditions or defaults by the other in performance of any of the provisions of this Agreement shall operate or be construed as a waiver of any future conditions or defaults,
whether of a like or different character, nor shall the waiver constitute a continuing waiver unless otherwise expressly provided. 
 11.6 Severability. Each portion of this Agreement is intended to be severable. If any term or provision hereof is illegal or invalid for any reason whatsoever, such illegality or invalidity shall
not affect the validity of the remainder of this Agreement. 

  
 37 

 11.7 Counterparts. This Agreement may be executed simultaneously in any number of
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 11.8 Governing Law, Dispute Resolution and Arbitration. 

(a) Governing Law. This Agreement shall be governed by, enforced in accordance with, and interpreted under, the
Laws of the State of Colorado, without reference to conflicts of Laws principles. 
 (b) Negotiation. In
the event of any Arbitral Dispute, the Parties shall promptly seek to resolve any such Arbitral Dispute by negotiations between senior executives of the Parties who have authority to settle the Arbitral Dispute. When a Party believes there is an
Arbitral Dispute under this Agreement that Party will give the other Party written notice of the Arbitral Dispute. Within thirty (30) days after receipt of such notice, the receiving Party shall submit to the other a written response. Both the
notice and response shall include (i) a statement of each Party’s position and a summary of the evidence and arguments supporting such position, and (ii) the name, title, fax number, and telephone number of the executive or executives
who will represent that Party. If the Arbitral Dispute involves a claim arising out of the actions of any Person not a signatory to this Agreement, the receiving Party shall have such additional time as necessary, not to exceed an additional thirty
(30) days, to investigate the Arbitral Dispute before submitting a written response. The executives shall meet at a mutually acceptable time and place within fifteen (15) days after the date of the response and thereafter as often as they
reasonably deem necessary to exchange relevant information and to attempt to resolve the Arbitral Dispute. If one of the executives intends to be accompanied at a meeting by an attorney, the other executive shall be given at least five
(5) Business Days’ notice of such intention and may also be accompanied by an attorney. 
 (c)
Failure to Resolve. If the Arbitral Dispute has not been resolved within sixty (60) days after the date of the response given pursuant to Section 11.8(b) above, or such additional time, if any, that the Parties mutually agree
to in writing, or if the Party receiving such notice denies the applicability of the provisions of Section 11.8(b) or otherwise refuses to participate under the provisions of Section 11.8(b), either Party may initiate binding
arbitration pursuant to the provisions of Section 11.8(d) below. 
 (d) Arbitration. Any
Arbitral Disputes not settled pursuant to the foregoing provisions shall be resolved through the use of binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“Arbitration
Rules”), as supplemented to the extent necessary to determine any procedural appeal questions by the Federal Arbitration Act (Title 9 of the United States Code) and in accordance with the following provisions: 

(i) If there is any inconsistency between this Section 11.8(d) and the Arbitration Rules or the Federal
Arbitration Act, the terms of this Section 11.8(d) will control the rights and obligations of the Parties. 

  
 38 

 (ii) Arbitration shall be initiated by a Party serving written notice, via
certified mail, on the other Party that the first Party elects to refer the Arbitral Dispute to binding arbitration, along with the name of the arbitrator appointed by the Party demanding arbitration and a statement of the matter in controversy.
Within thirty (30) days after receipt of such demand for arbitration, the receiving Party shall name its arbitrator. If the receiving Party fails or refuses to name its arbitrator within such thirty (30) day period, the second arbitrator
shall be appointed, upon request of the Party demanding arbitration, by the Chief U.S. District Court Judge for the District of Colorado, or such other person designated by such judge. The two arbitrators so selected shall within thirty
(30) days after their designation select a third arbitrator; provided, however, that if the two arbitrators are not able to agree on a third arbitrator within such thirty (30) day period, either Party may request the Chief U.S. District
Court Judge for the District of Colorado, or such other person designated by such judge to select the third arbitrator as soon as possible. If the Judge declines to appoint an arbitrator, appointment shall be made, upon application of either Party,
pursuant to the Commercial Arbitration Rules of the American Arbitration Association. If any arbitrator refuses or fails to fulfill his or her duties hereunder, such arbitrator shall be replaced by the Party which selected such arbitrator (or if
such arbitrator was selected by another Person, through the procedure which such arbitrator was selected) pursuant to the foregoing provisions. 
 (iii) The hearing will be conducted in Denver, Colorado, no later than sixty (60) days following the selection of the arbitrators or thirty (30) days after all prehearing discovery has been
completed, whichever is later, at which the Parties shall present such evidence and witnesses as they may choose, with or without counsel. The Parties and the arbitrators should proceed diligently and in good faith in order that the award may be
made as promptly as possible. 
 (iv) Except as provided in the Federal Arbitration Act, the decision of the
arbitrators will be binding on and non-appealable by the Parties. Any such decision may be filed in any court of competent jurisdiction and may be enforced by any Party as a final judgment in such court. 

(v) The arbitrators shall have no right or authority to grant or award exemplary, punitive, remote, speculative,
consequential, special or incidental damages. 
 (vi) The Federal Rules of Civil Procedure, as modified or
supplemented by the local rules of civil procedure for the U.S. District Court of Colorado, shall apply in the arbitration. The Parties shall make their witnesses available in a timely manner for discovery pursuant to such rules. If a Party fails to
comply with this discovery agreement within the time established by the arbitrators, after resolving any discovery disputes, the arbitrators may take such failure to comply into consideration in reaching their decision. All discovery disputes shall
be resolved by the arbitrators pursuant to the procedures set forth in the Federal Rules of Civil Procedure. 

  
 39 

 (vii) Adherence to formal rules of evidence shall not be required. The
arbitrators shall consider any evidence and testimony that they determine to be relevant. 
 (viii) The Parties
hereby request that the arbitrators render their decision within thirty (30) days following conclusion of the hearing. 
 (ix) The defenses of statute of limitations and laches shall be tolled from and after the date a Party gives the other Party written notice of an Arbitral Dispute as provided in
Section 11.8(b) above until such time as the Arbitral Dispute has been resolved pursuant to Section 11.8(b), or an arbitration award has been entered pursuant to this Section 11.8(d). 

(e) Recovery of Costs and Attorneys’ Fees. If arbitration arising out of this Agreement is initiated by either
Party, the decision of the arbitrators may include the award of court costs, fees and expenses of such arbitration (including reasonable attorneys’ fees). 
 (f) Choice of Forum. If, despite the Parties’ agreement to submit any Arbitral Disputes to binding arbitration, there are any court proceedings arising out of or relating to this Agreement or
the transactions contemplated hereby, such proceedings shall be brought and tried in, and the Parties hereby consent to the jurisdiction of, the federal or state courts situated in the City and County of Denver, State of Colorado. 

(g) Jury Waivers. THE PARTIES HEREBY WAIVE ANY AND ALL RIGHTS TO DEMAND A TRIAL BY JURY. 

(h) Settlement Proceedings. All aspects of any settlement proceedings, including discovery, testimony and other
evidence, negotiations and communications pursuant to this Section 11.8, briefs and the award shall be held confidential by each Party and the arbitrators, and shall be treated as compromise and settlement negotiations for the purposes
of the Federal and State Rules of Evidence. 
 11.9 Notices and Addresses. Any notice, request, instruction, waiver or
other communication to be given hereunder by either Party shall be in writing and shall be considered duly delivered if personally delivered, mailed by certified mail with the postage prepaid (return receipt requested), sent by messenger or
overnight delivery service, or sent by facsimile to the addresses of the Parties as follows: 
  

			
	 MLP:
	 	 DCP Midstream Partners, LP

370 - 17th Street, Suite 2775

Denver, Colorado 80202

Telephone: (303) 633-2900

Facsimile: (303) 633-2921

Attn: President

  
 40 

			
		
	with a copy to:	 	 DCP Midstream Partners, LP

370 - 17th Street, Suite 2775
 Denver, Colorado
80202
 Telephone: (303) 633-2900

Facsimile: (303) 633-2921
 Attn: General
Counsel

		
	MIDSTREAM, GP or HOLDINGS:	 	 DCP Midstream, LLC
 370 -
17th Street, Suite 2500
 Denver, Colorado 80202
 Telephone: (303) 595-3331
 Facsimile: (303) 605-2226

Attn: President

		
	with a copy to:	 	 DCP Midstream, LLC
 370 -
17th Street, Suite 2500
 Denver, Colorado 80202
 Telephone: (303) 605-1630
 Facsimile: (303) 605-2226

Attn: General Counsel

 or at such other address as either Party may designate by written notice to the other Party in the manner provided in
this Section 11.9. Notice by mail shall be deemed to have been given and received on the third (3rd) day after posting. Notice by messenger, overnight delivery service, facsimile transmission (with answer-back confirmation) or
personal delivery shall be deemed given on the date of actual delivery. 
 11.10 Press Releases. Except as may otherwise
be required by securities Laws and public announcements or disclosures that are, in the reasonable opinion of the Party proposing to make the announcement or disclosure, legally required to be made, there shall be no press release or public
communication concerning the transactions contemplated by this Agreement by either Party except with the prior written consent of the Party not originating such press release or communication, which consent shall not be unreasonably withheld or
delayed. MLP, GP and HOLDINGS will consult in advance on the necessity for, and the timing and content of, any communications to be made to the public and, subject to legal constraints, to the form and content of any application or report to be made
to any Governmental Authority that relates to the transactions contemplated by this Agreement. 
 11.11 Offset. Nothing
contained herein or in any Transaction Document shall create a right of offset or setoff for any Party under this Agreement and each Party hereby waives and disclaims any such right of offset or setoff under all applicable Law (including common
Law). 
 11.12 No Partnership; Third Party Beneficiaries. Nothing in this Agreement shall be deemed to create a joint
venture, partnership, tax partnership, or agency relationship between the Parties. Nothing in this Agreement shall provide any benefit to any Third Person or entitle any Third Person to any claim, cause of action, remedy or right of any kind, it
being the intent of the Parties that this Agreement shall not be construed as a third-party beneficiary contract; provided, however, that the indemnification provisions of ARTICLE X shall inure to the benefit of the MLP Indemnitees and the HOLDINGS
Indemnitees as provided therein. 

  
 41 

 11.13 Negotiated Transaction. The provisions of this Agreement were negotiated by the
Parties, and this Agreement shall be deemed to have been drafted by both Parties. 
 THE PARTIES HAVE signed this Agreement by
their duly authorized officials as of the date first set forth above. 
 [Signatures begin on next page] 

  
 42 

 
			
	DCP LP HOLDINGS, LLC
		
	By:	 	 /s/ Richard A. Bradsby II

	Name: Richard A. Bradsby II
	Title: Vice President
	
	DCP MIDSTREAM, LLC
		
	By:	 	 /s/ Richard A. Bradsby II

	Name: Richard A. Bradsby II
	Title: Vice President
	
	DCP MIDSTREAM GP, LP 
	
	By: DCP MIDSTREAM GP, LLC, Its General Partner
		
	By:	 	 /s/ Mark A. Borer

	Name: Mark A. Borer
	Title: President and CEO
	
	DCP MIDSTREAM PARTNERS, LP 
	
	By: DCP MIDSTREAM GP, LP, Its General Partner
	
	By: DCP MIDSTREAM GP, LLC, Its General Partner
		
	 By: 

Name:
	 	 /s/ Mark A. Borer
 Mark A. Borer

	Title:	 	President and CEO

  

SIGNATURE PAGE TO CONTRIBUTION AGREEMENTParticipant Agreement

 Exhibit 4.3 

CURRENCYSHARESSM SWISS FRANC TRUST 
 PARTICIPANT AGREEMENT 
 This Participant Agreement (this “Agreement”),
dated as of March 25, 2010, is entered into by and between Knight Clearing Services, LLC (with respect to this Agreement, the “Authorized Participant”, and with respect to the Trust Agreement referred to below, an
“Authorized Participant”), The Bank of New York, a New York banking corporation, not in its individual capacity but solely as trustee (the “Trustee”) of the CurrencyShares Swiss Franc Trust (the
“Trust”), and Rydex Specialized Products LLC, d/b/a Rydex Investments, as sponsor (the “Sponsor”) of the Trust. 
 SUMMARY 
 The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust
Agreement dated as of June 8, 2006, among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time of Swiss Franc Shares issued thereunder and all depositors (the “Trust Agreement”). As provided
in the Trust Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized
Participant in aggregations of fifty thousand (50,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the registration statement of the Trust on Form S-1, as amended (Registration No: 333-13264), as
declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust
in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) adopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust Agreement, the Trustee is authorized to issue
Baskets to, and redeem Baskets from, Authorized Participants under the Trust Agreement, only through the facilities of The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Swiss
Francs that is transferred between such Authorized Participant and the Trust. Under the Trust Agreement, the Trustee issues Baskets in exchange for Swiss Francs which are transferred by an Authorized Participant to the London Branch of JPMorgan
Chase Bank, N.A. (the “Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Swiss Francs, the Swiss Francs held in the Trust Account are transferred to the
Authorized Participant by the Depository. The foregoing Swiss Franc transfers are also governed by the Deposit Account Agreement the Trust has entered into with the Depository (the “Deposit Account Agreement”). This Agreement sets
forth the specific procedures by which an Authorized Participant may create or redeem Baskets. 
 Because new Shares can be created and issued
on an ongoing basis, at any point during the life of the Trust, a “distribution,” as such term is used in the 1933 Act, may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a
participant in a distribution in a manner that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution”
portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). 
 Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Agreement. To the extent there is a conflict between any provision of this Agreement
and the provisions of the Trust Agreement, the provisions of the Trust Agreement shall control. 
 To give effect to the foregoing premises and
in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows: 
 Section 1. Order
Placement. To place orders for the Trustee to create or redeem one or more Baskets, Authorized Participants must follow the procedures for creation and redemption referred to in Section 3 of this Agreement and the procedures described in
Attachment A hereto (the “Procedures”), as each may be amended, modified or supplemented from time to time. 

 Section 2. Status, Representations and Warranties of the Parties. 

(a) The Authorized Participant represents and warrants and covenants the following on the date hereof and at each time of purchase by the
Authorized Participant of a Basket from the Trust (each such time, the “Time of Purchase”), that: 
 (i) The Authorized
Participant is a participant of DTC (as such a participant, a “DTC Participant”). If the Authorized Participant ceases to be a DTC Participant, the Authorized Participant shall give immediate notice to the Trustee of such event, and
this Agreement shall terminate immediately as of the date the Authorized Participant ceased to be a DTC Participant. 
 (ii)
Unless Section 2(a)(iii) applies, the Authorized Participant either (A) is registered as a broker-dealer under the Securities Exchange Act of 1934, as amended (“1934 Act”), and is a member in good standing of the National
Association of Securities Dealers, Inc. (the “NASD”), or (B) is exempt from being, or otherwise is not required to be, licensed as a broker-dealer or a member of the NASD, and in either case is qualified to act as a broker or
dealer in the states or other jurisdictions where the nature of its business so requires. In connection with the purchase or redemption of Baskets and any related offers or sales of Shares, the Authorized Participant will maintain any such
registrations, qualifications and membership in good standing and in full force and effect throughout the term of this Agreement. The Authorized Participant will comply with all applicable federal laws, the laws of the states or other jurisdictions
concerned, and the rules and regulations promulgated thereunder, and with the Constitution, By-Laws and Conduct Rules of the NASD (if it is a NASD member), and will not offer or sell Shares in any state or jurisdiction where they may not lawfully be
offered and/or sold. 
 (iii) If the Authorized Participant is offering or selling Shares in jurisdictions outside the several
states, territories and possessions of the United States and is not otherwise required to be registered, qualified or a member of the NASD as set forth in Section 2(a)(ii) above, the Authorized Participant will, in connection with such offers
and sales, (A) observe the applicable laws of the jurisdiction in which such offer and/or sale is made, (B) comply with the prospectus delivery and other requirements of the 1933 Act, and the regulations promulgated thereunder, and
(C) conduct its business in accordance with the NASD Conduct Rules. 
 (iv) The Authorized Participant is in compliance with
the money laundering and related provisions of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, and the regulations promulgated thereunder, if the Authorized
Participant is subject to the requirements of the USA PATRIOT Act. 
 (v) The Authorized Participant has the capability to send
and receive communications via authenticated telecommunication facility to and from the Trustee. The Authorized Participant shall confirm such capability to the satisfaction of the Trustee by the end of the Business Day before placing its first
order with the Trustee (whether such order is to create or to redeem Baskets). 

 (b) The Sponsor represents and warrants that: 

(i) on the effective date of the Registration Statement and at each Time of Purchase, the Trust’s Registration Statement shall be
effective and no stop order of the SEC with respect thereto shall have been issued and no proceedings for such purpose shall have been instituted or, to the Sponsor’s knowledge, will then be contemplated by the SEC; the Registration Statement
complies in all material respects with the requirements of the 1933 Act, and the Prospectus complied as of its date, and complies at the Time of Purchase, in all material respects with the requirements of the 1933 Act; and the conditions to the use
of Form S-1 have been satisfied; the Registration Statement does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, the
Prospectus will not, as of its date and at the Time of Purchase, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading and, as of              a.m./p.m. on the date of this Agreement (the “Time of Sale”), the documents
comprising the Disclosure Package (as defined below) did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that the Sponsor makes no warranty or representation with respect to any statement contained in the Registration Statement, the Prospectus or the Disclosure Package in
reliance upon and in conformity with information concerning the Authorized Participant and furnished in writing by or on behalf of the Authorized Participant to the Sponsor expressly for use therein. The “Disclosure Package” is the
Prospectus and any amendments and supplements thereto at the Time of Sale and any free writing prospectus as defined in Rule 405 of the 1933 Act (a “FWP”) prepared by, for or on behalf of the Sponsor before the Time of Sale and
intended for general distribution; 
 (ii) the Shares, when issued and delivered against payment of consideration therefor, as
provided in this Agreement, will be duly and validly authorized, issued, fully paid and non-assessable and free of statutory and contractual preemptive rights, rights of first refusal and similar rights; 

(iii) the Sponsor has been duly organized and, on the effective date of the Registration Statement and at each Time of Purchase, will be
validly existing as a limited liability company in good standing under the laws of the State of Delaware, with full power and authority to act as the sponsor of the Trust as described in the Registration Statement and the Prospectus, and has all
requisite power and authority to execute and deliver this Agreement; and 
 (iv) at the time the Sponsor makes an offer of Shares
following the filing of the Registration Statement, neither the Trust nor the Sponsor will be an “ineligible issuer” as defined in Rule 405 of the 1933 Act. 
 Section 3. Orders. 
 (a) All orders to create or redeem Baskets shall
be made in accordance with the terms of the Trust Agreement, the Deposit Account Agreement, this Agreement and the Procedures. Each 

 
party will comply with such foregoing terms and procedures to the extent applicable to it. The Authorized Participant hereby consents to the use of recorded telephone lines whether or not such
use is reflected in the Procedures. The Trustee and Sponsor may issue additional or other procedures from time to time relating to the manner of creating or redeeming Baskets which are not related to the Procedures, and the Authorized Participant
will comply with such procedures of which it has received notice in accordance with Section 18(c). 
 (b) The Authorized
Participant acknowledges and agrees that each order to create a Basket (a “Purchase Order”) and each order to redeem a Basket (a “Redemption Order”, and each Purchase Order and Redemption Order, an
“Order”) may not be revoked by the Authorized Participant upon its delivery to the Trustee. A form of Purchase Order is attached hereto as Exhibit B and a form of Redemption Order is attached hereto as Exhibit C. 

(c) The delivery of the Shares against deposits of Swiss Francs may be suspended generally, or refused with respect to particular
requested deliveries, during any period when the transfer books of the Trustee are closed or if any such action is deemed necessary or advisable by the Trustee or the Sponsor for any reason at any time or from time to time. Except as otherwise
provided in the Trust Agreement, the surrender of Shares for purposes of withdrawing Swiss Francs may not be suspended. 
 Section 4.
Swiss Francs Transfers. Any Swiss Francs to be transferred in connection with any Order shall be transferred between the Authorized Participant’s account and the Trust’s deposit accounts established for such transfers pursuant to the
Deposit Account Agreement (the “Deposit Accounts”) in accordance with the Procedures. The Authorized Participant shall be responsible for all costs and expenses relating to or connected with any transfer of Swiss Francs between its
account and the Deposit Accounts, including any late fees and other charges, if any, for which the Trustee becomes responsible in the event that Swiss Francs are not transferred from the Authorized Participant’s account in accordance with the
Procedures. 
 Section 5. Fees. In connection with each Order by an Authorized Participant to create or redeem one or more Baskets,
the Trustee shall charge, and the Authorized Participant shall pay to the Trustee, the transaction fee prescribed in the Trust Agreement applicable to such creation or redemption. The initial transaction fee shall be five hundred dollars ($500). The
transaction fee may be waived or otherwise adjusted from time to time as set forth in the Prospectus. 
 Section 6. Authorized
Persons. Concurrently with the execution of this Agreement and from time to time thereafter, the Authorized Participant shall deliver to the Trustee notarized and duly certified as appropriate by its secretary or other duly authorized official,
a certificate in the form of Exhibit A setting forth the names and signatures of all persons authorized to give instructions relating to activity contemplated hereby or by any other notice, request or instruction given on behalf of the Authorized
Participant (each, an “Authorized Person”). The Trustee may accept and rely upon such certificate as conclusive evidence of the facts set forth therein and shall consider such certificate to be in full force and effect until the
Trustee receives a superseding certificate bearing a subsequent date. Upon the termination or revocation of authority of any Authorized Person by the Authorized Participant, the Authorized Participant shall give immediate written notice of such fact
to the Trustee and such notice shall be effective upon receipt by the Trustee. The Trustee shall issue to each Authorized Person a unique personal identification number (the “PIN”) by which such Authorized Person shall be identified
and by which instructions issued by the Authorized Participant hereunder shall be authenticated. The PIN shall be kept confidential by the Authorized Participant and shall only be provided to the Authorized Person. If, after issuance, the Authorized
Person’s PIN is changed, the new PIN shall become effective on a date mutually agreed upon by the Authorized Participant and the Trustee. 

Section 7. Redemption. The Authorized Participant represents and warrants that it will not obtain an Order Number (as described in the
Procedures) from the Trustee for the purpose of redeeming a Basket unless it first ascertains that (i) it owns outright or has full legal authority and legal and beneficial right to tender for redemption the Baskets to be redeemed and to
receive the entire proceeds of the redemption, and (ii) such Baskets have not been loaned or pledged to another party and are not the subject of a repurchase agreement, securities lending agreement, or any other arrangement which would preclude
the delivery of such Baskets to the Trustee on the third Business Day following the date of the Redemption Order. 

 Section 8. Role of Authorized Participant. 

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

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

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

(b) The Sponsor hereby agrees to indemnify and hold harmless the Authorized Participant, its respective subsidiaries, affiliates,
directors, officers, employees and agents, and each person, if any, who controls such persons within the meaning of Section 15 of the 1933 Act (each, a “Sponsor Indemnified Party”) from and against any losses, liabilities,
damages, costs and expenses 

 
(including attorneys’ fees and the reasonable cost of investigation) incurred by such Sponsor Indemnified Party as a result of (i) any breach by the Sponsor of any provision of this
Agreement that relates to the Sponsor, including its representations, warranties and covenants; (ii) any failure on the part of the Sponsor to perform any other obligation of the Sponsor set forth in this Agreement; (iii) any failure by
the Sponsor to comply with applicable laws; or (iv) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or in any amendment thereof, or in the Prospectus, or in any amendment thereof or
supplement thereto, or in the Disclosure Package, or in any FWP prepared by, for or on behalf of the Sponsor, or arising out of or based upon the omission or alleged omission to state therein a material fact required to be stated therein or
necessary in order to make the statements therein not misleading, except those statements based on information furnished in writing by or on behalf of the Authorized Participant expressly for use in the Registration Statement, amendment thereof,
Prospectus, amendment thereof or supplement thereto, Disclosure Package, or FWP. 
 (c) (i) This Section 9 shall not
apply to any AP Indemnified Party or any Sponsor Indemnified Party (each, an “Indemnified Party”) to the extent any such losses, liabilities, damages, costs and expenses are incurred as a result of, or in connection with, any action
or failure to act that constitutes gross negligence, bad faith or willful misconduct on the part of the such Indemnified Party. (ii) The term “affiliate” in this Section 9 shall include, with respect to any person, entity or
organization, any other person, entity or organization which directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such person, entity or organization. 

(d) If the indemnification provided for in this Section 9 is unavailable to an indemnified party under Sections 9(a) or 9(b) or
insufficient to hold an indemnified party harmless in respect of any losses, liabilities, damages, costs and expenses referred to therein, then each applicable indemnifying party shall contribute to the amount paid or payable by such indemnified
party as a result of such losses, liabilities, damages, costs and expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Sponsor and the Trust, on the one hand, and by the Authorized Participant, on
the other hand, from the services provided hereunder or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in
clause (i) above but also the relative fault of the Sponsor and the Trust, on the one hand, and of the Authorized Participant, on the other hand, in connection with, to the extent applicable, the statements or omissions which resulted in such
losses, liabilities, damages, costs and expenses, as well as any other relevant equitable considerations. The relative benefits received by the Sponsor and the Trust, on the one hand, and the Authorized Participant, on the other hand, shall be
deemed to be in the same respective proportions as the amount of Swiss Francs transferred to the Trust under this Agreement on the one hand (expressed in dollars) bears to the amount of economic benefit received by the Authorized Participant in
connection with this Agreement on the other hand. To the extent applicable, the relative fault of the Sponsor on the one hand and of the Authorized Participant on the other shall be determined by reference to, among other things, whether the untrue
statement or alleged untrue statement of a material fact or omission or alleged omission relates to information supplied by the Sponsor or by the Authorized Participant and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result of the losses, liabilities, damages, costs and expenses referred to in this Section 9(d) shall be deemed to include any legal or
other fees or expenses reasonably incurred by such party in connection with investigating, preparing to defend or defending any action, suit or proceeding (each a “Proceeding”) related to such losses, liabilities, damages, costs and
expenses. 
 (e) The Sponsor and the Authorized Participant agree that it would not be just and equitable if contribution
pursuant to this Section 9 were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in Section 9(d) above. The Authorized Participant shall not be
required to contribute any amount in excess of the amount by which the total price at which the Shares created by the Authorized 

 
Participant and distributed to the public were offered to the public exceeds the amount of any damage which the Authorized Participant has otherwise been required to pay by reason of such untrue
statement or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation. 
 (f) The indemnity and contribution agreements contained in this Section 9 shall
remain in full force and effect regardless of any investigation made by or on behalf of the Authorized Participant, its partners, stockholders, members, directors, officers, employees and or any person (including each partner, stockholder, member,
director, officer or employee of such person) who controls the Authorized Participant within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, or by or on behalf of the Sponsor, its partners, stockholders, members,
directors, officers, employees or any person who controls the Sponsor within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, and shall survive any termination of this Agreement. The Sponsor and the Authorized
Participant agree promptly to notify each other of the commencement of any Proceeding against it and, in the case of the Sponsor, against any of the Sponsor’s officers or directors, in connection with the issuance and sale of the Shares or in
connection with the Registration Statement or the Prospectus. 
 Section 10. Liability. 

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

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

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

(a) The Authorized Participant represents, warrants and covenants that (i), without the written consent of the Sponsor, the Authorized
Participant will not (A) make, or permit any of its representatives to make, any representations concerning the Shares or any AP Indemnified Party other than representations contained (1) in the Prospectus of the Trust, as then amended and
supplemented, (2) in printed information approved by the Sponsor as information supplemental to 

 
such Prospectus or (3) in any promotional materials or sales literature furnished to the Authorized Participant by the Sponsor, or (B) issue any FWP pursuant to Rules 164 and 433 of the
1933 Act and (ii) the Authorized Participant will not furnish or cause to be furnished to any person or display or publish any information or material relating to the Shares, any AP Indemnified Person or the Trust that are not consistent with
the Prospectus, as then amended and supplemented. Copies of the Prospectus of the Trust, as then amended and supplemented, and any such printed supplemental information will be supplied by the Sponsor to the Authorized Participant in reasonable
quantities upon request. 
 (b) Notwithstanding the foregoing, the Authorized Participant may without the written approval of the
Sponsor prepare and circulate in the regular course of its business research reports, marketing material and sales literature, but in no event FWPs, that include information, opinions or recommendations relating to the Shares (i) for public
dissemination, provided that such research reports, marketing material or sales literature is prepared in accordance with applicable rules and regulations of the 1933 Act, any applicable state securities laws and NASD rules; or (ii) for
internal use by the Authorized Participant. The Authorized Participant will file all such research reports, marketing material and sales literature related to the Shares with the NASD to the extent required by the NASD Conduct Rules. 

(c) The Authorized Participant and its affiliates may prepare and circulate in the regular course of their businesses, without having to
refer to the Shares or the Prospectus, as then amended and supplemented, data and information relating to the price of Swiss Francs. 
 (d) The Authorized Participant hereby agrees that for the term of this Agreement the Sponsor may deliver the Prospectus, and any supplements or amendments thereto or recirculation thereof, to the
Authorized Participant in Portable Document Format (“PDF”) via electronic mail in lieu of delivering the Prospectus in paper form. The Authorized Participant may revoke the foregoing agreement at any time by delivering written
notice to the Sponsor and, whether or not such agreement is in effect, the Authorized Participant may, at any time, request reasonable quantities of the Prospectus, and any supplements or amendments thereto or recirculation thereof, in paper form
from the Sponsor. The Authorized Participant acknowledges that it has the capability to access, view, save and print material provided to it in PDF and that it will incur no appreciable extra costs by receiving the Prospectus in PDF instead of in
paper form. The Sponsor will, when requested by the Authorized Participant, make available at no cost the software and technical assistance necessary to allow the Authorized Participant to access, view and print the PDF version of the Prospectus.

 (e) For as long as this Agreement is effective, the Authorized Participant agrees to be identified as an authorized
participant of the Trust (i) in the section of the Prospectus included within the Registration Statement entitled “Creation and Redemption of Shares” (including identifying the Authorized Participant in such section by a supplement to
the Prospectus) and in any other section as may be required by the SEC and (ii) on the Trust’s website. Upon the termination of this Agreement, (i) during the period prior to when the Sponsor qualifies and elects to file on Form S-3,
the Sponsor will remove such identification from the Prospectus in the amendment of the Registration Statement next occurring after the date of the termination of this Agreement and, during the period after when the Sponsor qualifies and elects to
file on Form S-3, the Sponsor will promptly file a current report on Form 8-K indicating the withdrawal of the Authorized Participant as an authorized participant of the Trust and (ii) the Sponsor will promptly update the Trust’s website
to remove any identification of the Authorized Participant as an authorized participant of the Trust. 
 Section 14. Title To Swiss
Francs. The Authorized Participant represents and warrants that upon delivery of the Basket Swiss Franc Amount (as defined in the Trust Agreement) to the Trustee in accordance with the terms of the Trust Agreement and this Agreement, the Trust
will acquire good and unencumbered title to the Swiss Francs which are the subject of such Basket Swiss Franc Amount, free and clear of all pledges, security interests, liens, charges, taxes, assessments, encumbrances, equities, claims, options or
limitations 

 
of any kind or nature, fixed or contingent, and not subject to any adverse claims, including any restriction upon the sale or transfer of all or any part of such Swiss Francs which is imposed by
any agreement or arrangement entered into by the Authorized Participant or any party for which it is acting in connection with a Purchase Order. 
 Section 15. Third Party Beneficiaries. Each AP Indemnified Party, to the extent it is not a party to this Agreement, is a third-party beneficiary of this Agreement (each, a “Third
Party Beneficiary”) and may proceed directly against the Authorized Participant (including by bringing proceedings against the Authorized Participant in its own name) to enforce any obligation of the Authorized Participant under this
Agreement which directly or indirectly benefits such Third Party Beneficiary. 
 Section 16. Force Majeure. No party to this
Agreement shall incur any liability for any delay in performance, or for the non-performance, of any of its obligations under this Agreement by reason of any act of God or war or terrorism, acts and regulations and rules of any governmental or supra
national bodies or authorities or regulatory or self-regulatory organization or failure of any such body, authority or organization for any reason, to perform its obligations, or any cause beyond its reasonable control, including, without
limitation, any breakdown, malfunction or failure of transmission in connection with or other unavailability of any wire, communication or computer facilities, any transport, port or airport disruption, or any industrial action. 

Section 17. Ambiguous Instructions. If a Purchase Order Form or a Redemption Order Form otherwise in good form contains order terms that
differ from the information provided in the telephone call at the time of issuance of the applicable order number, the Trustee will attempt to contact one of the Authorized Persons of the Authorized Participant to request confirmation of the terms
of the Order. If an Authorized Person confirms the terms as they appear in the Order, then the Order will be accepted and processed. If an Authorized Person contradicts the Order terms, the Order will be deemed invalid, and a corrected Order must be
received by the Trustee. If the Trustee is not able to contact an Authorized Person, then the Order shall be accepted and processed in accordance with its terms notwithstanding any inconsistency from the terms of the telephone information. In the
event that an Order contains terms that are not complete or are illegible, the Order will be deemed invalid and the Trustee will attempt to contact one of the Authorized Persons of the Authorized Participant to request retransmission of the Order.

 Section 18. Miscellaneous. 
 (a) Amendment and Modification. This Agreement, the Procedures attached as Attachment A and the Exhibits hereto may be amended, modified or supplemented by the Trustee and the Sponsor, without consent of
any Authorized Participant from time to time by the following procedure. After the amendment, modification or supplement has been agreed to, the Trustee will mail a copy of the proposed amendment, modification or supplement to the Authorized
Participant. For the purposes of this Agreement, mail will be deemed received by the recipient thereof on the third (3rd) day following the deposit of such mail into the United States postal system. Within ten (10) calendar days after its
deemed receipt, the amendment, modification or supplement will become part of this Agreement, the Attachments or the Exhibits, as the case may be, in accordance with its terms. If at any time there is any material amendment, modification or
supplement of any Participant Agreement (other than this Agreement), the Trustee will promptly mail a copy of such amendment, modification or supplement to the Authorized Participant. 

(b) Waiver of Compliance. Any failure of any of the parties to comply with any obligation, covenant, agreement or condition herein may be
waived by the party entitled to the benefits thereof only by a written instrument signed by the party granting such waiver, but any such written waiver, or the failure to insist upon strict compliance with any obligation, covenant, agreement or
condition herein, shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 
 (c) Notices.
Except as otherwise specifically provided in this Agreement, all notices required or permitted to be given pursuant to this Agreement shall be given in writing and delivered by 

 
personal delivery, by postage prepaid registered or certified United States first class mail, return receipt requested, by nationally recognized overnight courier (delivery confirmation received)
or by telex, telegram or telephonic facsimile or similar means of same day delivery (transmission confirmation received), with a confirming copy regular mailed, postage prepaid. For avoidance of doubt, notices may not be given or transmitted by
electronic mail. Unless otherwise notified in writing, all notices to the Trust shall be given or sent to the Trustee. All notices shall be directed to the address or telephone or facsimile numbers indicated below the signature line of the parties
on the signature page hereof. 
 (d) Successors and Assigns. This Agreement and all of the provisions hereof shall be binding
upon and inure to the benefit of the parties and their respective successors and permitted assigns. 
 (e) Assignment. Neither
this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any party without the prior written consent of the other parties, except that any entity into which a party hereto may be merged or converted or with which
it may be consolidated or any entity resulting from any merger, conversion, or consolidation to which such party hereunder shall be a party, or any entity succeeding to all or substantially all of the business of the party, shall be the successor of
the party under this Agreement. The party resulting from any such merger, conversion, consolidation or succession shall notify the other parties hereto of the change. Any purported assignment in violation of the provisions hereof shall be null and
void. Notwithstanding the foregoing, this Agreement shall be automatically assigned to any successor Trustee or Sponsor at such time such successor qualifies as a successor Trustee or Sponsor under the terms of the Trust Agreement. 

(f) Governing Law; Consent to Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of
New York (regardless of the laws that might otherwise govern under applicable New York conflict of laws principles) as to all matters, including matters of validity, construction, effect, performance and remedies. Each party hereto irrevocably
consents to the jurisdiction of the courts of the State of New York and of any federal court located in the Borough of Manhattan in such State in connection with any action, suit or other proceeding arising out of or relating to this Agreement or
any action taken or omitted hereunder, and waives any claim of forum non convenient and any objections as to laying of venue. Each party further waives personal service of any summons, complaint or other process and agrees that service thereof may
be made by certified or registered mail directed to such party at such party’s address for purposes of notices hereunder. Each party hereby waives its right to a trial by jury of any claim arising under or in connection with this Agreement.

 (g) Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original
copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement, and it shall not be necessary in making proof of this Agreement as to any party hereto to produce or account for more than one
such counterpart executed and delivered by such party. 
 (h) Interpretation. The article and section headings contained in this
Agreement are solely for the purpose of reference, are not part of the agreement of the parties and shall not in any way affect the meaning or interpretation of this Agreement. 
 (i) Entire Agreement. This Agreement and the Trust Agreement, along with any other agreement or instrument delivered pursuant to this Agreement and the Trust Agreement, supersede all prior agreements and
understandings between the parties with respect to the subject matter hereof, provided, however, that the Authorized Participant shall not be deemed by this provision to be a party to the Trust Agreement. 

(j) Severance. If any provision of this Agreement is held by any court or any act, regulation, rule or decision of any other governmental
or supra national body or authority or regulatory or self-regulatory organization to be invalid, illegal or unenforceable for any reason, it shall be invalid, 

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

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

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

													
	 THE BANK OF NEW YORK,
 not in its individual capacity,
 but solely as Trustee of the CurrencyShares Swiss Franc
Trust
	 	 KNIGHT CLEARING SERVICES, LLC

					
	By:	 	 /s/ Andrew Pfeifer
	 		 	By:        	 	 /s/ Christopher Pento

		 	        Name:	 		 		 		 	Name:	 	Christopher Pento
		 	        Title  Vice President	 		 		 	Title	 	President

  

									
	Address:	 	         One Wall Street
         New York, NY 10286
	 		 	 Address: 545 Washington Blvd., 2nd Fl.
  Jersey City, NJ 07310

	Telephone:	 	        (212) 635-6314	 		 	Telephone:	 	        201-356-4232
					
	Facsimile:	 		 		 	Facsimile:	 	        201-356-4297

  

					
	RYDEX SPECIALIZED PRODUCTS LLC,
	Sponsor of the CurrencyShares Swiss Franc Trust
		
	 /s/ Nick Bonos
	 	
	Name:	 	Nick Bonos
	Title:	 	CEO

  

					
	Address:	 	9601 Blackwell Rd., Ste 500
		 	Rockville, MD 20850

  

					
	Telephone:	 	301-296-5125

  

					
	Facsimile:	 	301-296-5104

 

 
 Exhibit A 

CURRENCYSHARESSM SWISS FRANC TRUST 
 FORM OF CERTIFIED AUTHORIZED PERSONS OF AUTHORIZED PARTICIPANT 
 The following are the names,
titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by the Participant Agreement or any other notice, request or instruction on behalf of the
Authorized Participant pursuant to the CurrencyShares Swiss Franc Trust Participant Agreement. 
 Authorized Participant:  Knight
Clearing Services LLC. 
  

									
	Name:	 	Stacey Boss	 		 	Name:	 	Robert Moseman III
	Title:	 	Authorized Person	 		 	Title:	 	Authorized Person

  

									
	Signature:	 	 /s/ Stacey Boss
	 		 	Signature:	 	 /s/ Robert Moseman III

  

									
	Name:	 	Eric Malpica	 		 	Name:	 	Sean Siri
	Title:	 	Authorized Person	 		 	Title:	 	Authorized Person

  

									
	Signature:	 	 /s/ Eric Malpica
	 		 	Signature:	 	 /s/ Sean Siri

  

									
	Name:	 	Erma McClain	 		 	Name:	 	Wayne Solano
	Title:	 	Authorized Person	 		 	Title:	 	Authorized Person

  

									
	Signature:	 	 /s/ Erma McClain
	 		 	Signature:	 	 /s/ Wayne Solano

 The undersigned, Andrew M. Greenstein, Managing Director, Deputy General Counsel and Secretary of Knight Clearing
Services LLC does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons pursuant to
the CurrencyShares Swiss Franc Trust Participant Agreement by and between Knight Clearing Services LLC and the Trustee and the Sponsor of the CurrencyShares Swiss Franc Trust, dated March 25, 2010, and that their signatures set forth above are
their own true and genuine signatures. 
 In Witness Whereof, the undersigned has hereby set his hand and the seal of Knight Clearing Services
LLC on the date set forth below. 
  

							
		 		 	Knight Clearing Services LLC
				
		 		 	By:	 	 /s/ Andrew M. Greenstein

		 		 	Name:	 	Andrew M. Greenstein
		 		 	Title:	 	Managing Director, Deputy General
	Subscribed and sworn to before me	 		 	Counsel & Secretary
	This 15th day of April, 2010	 		 	Date:	 	4/15/2010
				
	 /s/ Maria Corona S. Bugarin
	 		 		 	
	Maria Corona S. Bugarin	 		 		 	
	Notary Public of New Jersey	 		 		 	
	My Comm. Expires Sept. 26, 2013	 		 		 	

 EXHIBIT B 

CURRENCYSHARESSM SWISS FRANC TRUST 
 PURCHASE ORDER FORM 
 THE BANK OF NEW YORK, TRUSTEE 

 
  
 CONTACT INFORMATION FOR ORDER EXECUTION: 

			
	Telephone order number:	  	(718) 315-4970 or 4967
	Fax order number:	  	(718) 315-4881
	Depository Instructions	  	(000-000-0000)/SWIFT [            ]

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

 

	I.	TO BE COMPLETED BY PARTICIPANT: 

 

			
	Date:	 	  

			
	Broker Name:	 	  

			
	DTC Participant Number:	 	  

			
	Telephone Number:	 	  

					
		 	Time:	 	  

					
		 	Firm Name:	 	  

					
		 	Fax Number:	 	  

		
		 	(One Basket = 50,000 [FXF] Shares)

 
 

 

 

			
	Number of Baskets Transacted:	 	  

 
 

 

			
	Order #	 	  

 

					
		 	Number written out:	 	  

 
 

  
 This Purchase Order is subject to the
terms and conditions of the Depositary Trust Agreement of the CurrencyShares Swiss Franc Trust as currently in effect and the Participant Agreement between the Authorized Participant, the Trustee and the Sponsor named therein. All representations
and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant Agreement are incorporated herein by reference and are true and accurate as of the date hereof. 

The undersigned does hereby certify as of the date set forth below that he/she is an Authorized Person under the Participant Agreement and that he/she is
authorized to deliver this Purchase Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this agreement based on an estimated Basket Swiss Franc Amount disseminated the previous business day and
recognizes the final Basket Swiss Franc Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of the trading day a final NAV will be disseminated to all Authorized Participants, and the Basket Swiss Franc
Amount required for the Purchase Order entered into on this day will be finalized and this Purchase Order will serve as a legally binding contract for settlement in 3 business days. 

 

					
	  
	 		 	  

	 Date
	 	 	 	Authorized Person’s Signature        

  

	II.	TO BE COMPLETED BY TRUSTEE: 

 This
certifies that the above order has been: 

                     Accepted by the Trustee

                     
Declined-Reason:                                      
                                         
                                         
     
  

									
	Final # of Swiss Francs	 	  
	 		 	Final # of [FXF] Shares	 	  

  

									
	  
	 		 	  
	 		 	  

	Date	 		 	Time	 		 	Authorized Signature of Trustee

 EXHIBIT C 
 CURRENCYSHARES SWISS FRANC TRUST 
 REDEMPTION ORDER FORM 

THE BANK OF NEW YORK, TRUSTEE 
  

 
 CONTACT INFORMATION FOR ORDER
EXECUTION: 

			
	Telephone order number:	  	(718) 315-4970 or 4967
	Fax order number:	  	(718) 315-4881
	Depository Instructions	  	(000-000-0000)/SWIFT [            ]

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

 

	I.	TO BE COMPLETED BY PARTICIPANT:

			
	Date:	 	  

			
	Broker Name:	 	  

			
	DTC Participant Number:	 	  

			
	Telephone Number:	 	  

 

					
		 	Time:	 	  

					
		 	Firm Name:	 	  

					
		 	Fax Number:	 	  

		
		 	(One Basket = 50,000 [FXF] Shares)

 
 

 

 

			
	Number of Baskets Surrendered:	  	  

 
 

 

			
	Order #	 	  

 

					
		 	Number written out:	 	  

 
 

  
 This Redemption Order is subject to
the terms and conditions of the Depositary Trust Agreement of the CurrencyShares Swiss Franc Trust as currently in effect and the Participant Agreement between the Authorized Participant, the Trustee and the Sponsor named therein. All
representations and warranties of the Authorized Participant set forth in such Depositary Trust Agreement and such Participant Agreement are incorporated herein by reference and are true and accurate as of the date hereof. 

The undersigned does hereby certify as of the date set forth below that he/she is an Authorized Person under the Participant Agreement and that he/she is
authorized to deliver this Redemption Order to the Trustee on behalf of the Authorized Participant. The Authorized Participant enters into this agreement based on an estimated Basket Swiss Franc Amount disseminated the previous business day and
recognizes the final Basket Swiss Franc Amount represented will be decreased based on the Trust’s daily accrual. At the conclusion of the trading day a final NAV will be disseminated to all Authorized Participants, and the Basket Swiss Franc
Amount required for the Redemption Order entered into on this day will be finalized and this Redemption Order will serve as a legally binding contract for settlement in 3 business days. 

 

					
	  
	 		 	  

	 Date
	 		 	Authorized Person’s Signature        

  

	II.	TO BE COMPLETED BY TRUSTEE: 

 This
certifies that the above order has been: 

                     Accepted by the Trustee

                     
Declined-Reason:                                      
                                         
                                         

  

									
	Final # of Swiss Francs	 	  
	 		 	Final # of [FXF] Shares	 	  

  

									
	  
	 		 	  
	 		 	  

	Date	 		 	Time	 		 	Authorized Signature of Trustee

 ATTACHMENT A 
 CREATION AND REDEMPTION OF SWISS FRANC SHARES AND 
 RELATED SWISS FRANCS
TRANSACTIONS 
 Scope of Procedures and Overview 
 These procedures (the “Procedures”) describe the processes by which one or more Baskets of Swiss Franc Trust shares (the “Shares”) issuable by The Bank of New York, as
trustee (the “Trustee”) of the CurrencyShares Swiss Franc Trust (the “Trust”), may be purchased or, once Shares have been issued, redeemed by an Authorized Participant. Shares may be created or redeemed only in
blocks of 50,000 Shares (each such block, a “Basket”). Because the issuance and redemption of Baskets also involve the transfer of Swiss Francs between the Authorized Participant and the Trust, certain processes relating to the
underlying transfers of Swiss Francs also are described. 
 Under these Procedures, Baskets may be issued only in consideration for Swiss Francs
transferred to and held in the Trust’s accounts maintained in London, England by London Branch of JPMorgan Chase Bank, N.A., as depository (the “Depository”). Capitalized terms used in these Procedures without further
definition have the meanings assigned to them in the Depositary Trust Agreement, dated as of [            ], 2006, between Rydex Specialized Products LLC (the
“Sponsor”), the Trustee, the registered owners and beneficial owners from time to time of Shares issued thereunder and all depositors (the “Trust Agreement”), or the Participant Agreement entered into by each
Authorized Participant with the Sponsor and the Trustee. 
 For purposes of these Procedures, a “Business Day” is defined as
any day other than (i) a Saturday or Sunday or (ii) a day on which the New York Stock Exchange (the “NYSE”) is not open for regular trading at noon New York City time. 

The Prospectus describes the creation and redemption process and the Trust; it will be delivered by the Sponsor to each Authorized Participant prior to
its execution of the Participant Agreement. Baskets are issued and redeemed in accordance with the Trust Agreement and the Participant Agreement. Baskets may be issued and redeemed on any Business Day by the Trustee in exchange for Swiss Francs,
which the Trustee receives from Authorized Participants or transfers to Authorized Participants, in each case on behalf of the Trust. Authorized Participants will be required to pay a nonrefundable per order transaction fee of $500 to the Trustee
(the “Transaction Fee”). 
 Authorized Participants and the Trust Transfer Swiss Francs and Baskets of Shares

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

 

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

 

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

 CREATION PROCESS 

OVERVIEW 

The following describes the process by which Baskets are created. In summary, an order to purchase one or more Baskets of Shares is
placed by an Authorized Participant with the Trustee by 4:00 p.m. New York City (“NYC”) time on the Business Day that is the Order Date under the Trust Agreement (“CREATION T”), and a Basket is created by 9:30 a.m.
NYC time (usually 3:30 p.m. Central European Time (“CET”)) on the third Business Day following CREATION T (“CREATION T+3”). In order for the creation of a Basket to occur, the Authorized Participant must transfer to
the Trust Swiss Francs and the Trustee will transfer to the Authorized Participant’s account at The Depository Trust Company (“DTC”) Shares corresponding to the Swiss Francs the Participant has transferred to the Trust.

  

	C1	CREATION T (PURCHASE ORDER TRADE DATE) 

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

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

  
 A-2

 C1.2 If the Trustee has received the Authorized Participant’s Purchase Order Form on
time in accordance with the preceding timing rules, then by 5:00 p.m. NYC time on CREATION T, the Trustee will return to the Participant a copy of the Purchase Order Form submitted, marking it “Affirmed subject to receipt of the Transaction Fee
prior to delivery of Baskets on CREATION T+3” and indicating, on a preliminary basis subject to confirmation, the number of Swiss Francs the Participant must transfer in exchange for the Basket(s). 

C1.3 The Participant ensures that by 3:30 p.m. CET (usually 9:30 a.m. NYC time) on CREATION T+3 that sufficient Swiss Francs are wire
transferred to the Depository. 
 C1.4 NOTES FOR AUTHORIZED PARTICIPANT (CREATION T) 

C1.4.1 The Authorized Participant must be a participating member of DTC. 

C1.4.2 The Authorized Participant must be able to transfer Swiss Francs via (RTGSplus, EBA EURO1 or TARGET). SWIFT BIC – CHASGB2L.

 C1.4.3 The Authorized Participant must have signed and delivered the Participant Agreement to the Trustee. The Trustee will
accept an Authorized Participant based on the representations made by the Authorized Participant in the Participant Agreement. The Trustee will not perform other due diligence or investigation of Authorized Participants. 

C1.4.4 The Authorized Participant must have in place, before a Purchase Order can be processed, account instructions for Swiss Francs
transfers with its sending financial institution. 
 C1.4.5 By 3:30 p.m. CET on CREATION T+3, Swiss Francs in the amount
needed to acquire the Shares must be standing to the credit of the Deposit Account in order for the Authorized Participant to receive Shares on CREATION T+3. 
 C1.4.6 An Authorized Participant may only deliver Swiss Francs for credit to the Depository in the following ways (RTGSplus, EBA EURO1 or TARGET). SWIFT BIC – CHASGB2L. 

C1.4.7 Prior to the delivery of the Baskets by the Trustee on CREATION T+3, the Authorized Participant must accept a DTC SPO Charge
for the applicable Transaction Fee from the Trustee. Purchase Orders for which the Trustee has not received the Transaction Fee will be cancelled subject to handling pursuant to supplemental procedures to be issued, but in any event the Authorized
Participant will remain obligated to the Trustee for the Transaction Fee. 
 C1.5 NOTES FOR TRUSTEE (CREATION T) 

C1.5.1 Based on the Purchase Orders placed with it on CREATION T, the Trustee sends an authenticated electronic message (SWIFT MT210) to
the Depository (by T+1) indicating the approximate total amount of Swiss Francs that the Depository will receive from the Authorized Participant on CREATION T+3. 

 

	C2	CREATION T+1 

 C2.1 The
Purchase Orders and instructions given on CREATION T are all pending with the Trustee. 
 C2.2 The Depository receives the
Trustee’s message (SWIFT MT210) about the approximate total amount of Swiss Francs the Authorized Participant is required to transfer not later than 3:30 p.m. CET on CREATION T+3. 

  
 A-3

	C3	CREATION T+2 

 On CREATION
T+2 the Trustee notifies the Authorized Participant of the final amount of Swiss Francs that must be deposited in the Deposit Account (the “Basket Swiss Francs Amount”) not later than 3:30 p.m. CET on CREATION T+3 for creation of
the Baskets on that day. 
  

	C4	CREATION T+3 

 C4.1 By 3:30
p.m. CET (usually 9:30 a.m. NYC time), the Depository has received each Authorized Participant’s wire transfer of the Basket Swiss Francs Amount in the Deposit Account. 
 C4.2 As of 3:30 p.m. CET time, the Depository notifies the Trustee that the Basket Swiss Francs Amount has been transferred into the Deposit Account by an authenticated electronic message (SWIFT MT910).

 C4.3 Prior to the delivery of the Baskets on CREATION T+3, the Trustee must have received the Transaction Fee from the
Authorized Participant (SPO/DTC Charge). 
 C4.4 At 11:00 a.m. NYC time, following receipt of the notice from the Depository
confirming the transfer of the Basket Swiss Francs Amount to the Deposit Account, the Trustee authorizes the creation and issuance of the Baskets ordered by each Authorized Participant on CREATION T for which the Trustee has received confirmation
from the Depository of receipt of the Basket Swiss Francs Amount. 
 C4.5 By 11:00 a.m. NYC time, following receipt of the
notice from the Depository confirming the transfer of the Basket Swiss Francs Amount to the Deposit Account, the Trustee notifies its transfer agent service desk that it has authorized the creation and issuance of Baskets in the number specified,
and to increase the number of Shares outstanding accordingly. By 11:00 a.m. NYC time, following receipt of the notice from the Trustee that it has authorized the creation and issuance of Shares in the number specified, the Trustee’s transfer
agent service desk increases the number of Shares outstanding, and notifies the Trustee and the Trustee’s DTC operations desk that an increased number of Shares is now outstanding and available for release in accordance with the Trustee’s
instructions. 
 C4.6 By 11:00 a.m. NYC time, following receipt of notice from the Trustee’s transfer agent service desk
that the number of Shares now outstanding has been increased, the Trustee notifies its DTC operations desk to release the increased number of Shares through DTC to the DTC participant accounts of the Authorized Participants scheduled to receive
Baskets on CREATION T+3 for whom the Trustee has received confirmation from the Depository that the Basket Swiss Francs Amount has been received into the Deposit Account. 
 C4.7 Following the close of business (usually 3:30 p.m. CET time) on CREATION T+3, the Depository makes appropriate entries in its books and records to reflect the creation of Baskets. 

C4.8 Following the close of business (usually 3:30 p.m. CET time) on CREATION T+3, the Depository Swiss Francs system updates account
records, recording the movements of Swiss Francs in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 3:30 p.m. CET time) on CREATION T+3. 

C4.9 Following the close of business (usually 3:30 p.m. CET time) on CREATION T+3, the Depository Swiss Francs system automatically
generates authenticated electronic messages constituting a statement of the activity affecting the Deposit Account (SWIFT MT940 or SWIFT MT950), (received only by the Trustee). 

C4.10 If the Authorized Participant fails to deliver Swiss Francs by 3:30 p.m. CET on CREATION T+3, (a) the Trustee will apply a
late fee equal to four (4) times the creation charge; and (b) the Depository may, in its reasonable discretion, apply a late fee calculated in accordance with standard industry practices pursuant to The European Interbank Compensation
Guidelines, as follows: 
 (Principal Amount) x
(            +25bps) x (# calendar days that the funds are late) divided by 360 x 100. 

  
 A-4

 In the event any such late fees are assessed, the Trustee will coordinate with the
Authorized Participant to arrange payment of such fees. 
 REDEMPTION PROCESS 

OVERVIEW 

The following describes the process by which Baskets are redeemed. In summary, an order to redeem one or more Baskets of Shares is placed
by an Authorized Participant with the Trustee by 4:00 p.m. NYC time on the Business Day that is the Order Date under the Trust Agreement (“REDEMPTION T”), and a Basket is redeemed by 3:30 p.m. CET (usually 9:30 a.m. NYC time) on the
third Business Day following REDEMPTION T (“REDEMPTION T+3”). In order for the redemption of a Basket to occur, the Authorized Participant must pay a transaction fee and the Trustee will instruct the Depository to transfer to
the Authorized Participant Swiss Francs corresponding to the Shares delivered for redemption. 
  

	R1	REDEMPTION T (REDEMPTION ORDER TRADE DATE) 

 R1.1 By the Order Cut-Off Time or the Early Order Cut-Off Time, as applicable, the Authorized Participant submits to the Trustee the Authorized Participant’s order to redeem one or more Baskets of
Shares (a “Redemption Order”) in accordance with the following process. 
 R1.1.1 By the Order Cut-Off Time or
the Early Order Cut-Off Time, as applicable, an Authorized Person of the Authorized Participant calls the Trustee at 718-315-4970 or 4967, notifying the Trustee that the Authorized Participant wishes to place a Redemption Order for the Trustee to
redeem an identified number of Baskets of Shares and requesting that the Trustee provide an order number. The Authorized Person provides a PIN as identification to the Trustee. 

R1.1.2 Incoming telephone calls are queued and will be handled in the sequence received. The Trustee will process the Redemption Order(s)
if the phone call initiated by the Authorized Person is placed before the Order Cut-Off Time or the Early Order Cut-Off Time as applicable, even though the remainder of the order process is not completed until after the Order Cut-Off Time or the
Early Order Cut-Off Time. Accordingly, do not hang up and redial. 
 R1.1.3 Redemption Orders initiated after the Order Cut-Off
Time or the Early Order Cut-Off Time are rejected. 
 R1.1.4 During the phone call from the Authorized Person of the Authorized
Participant to initiate a Redemption Order, the Trustee will give an order number for the Authorized Participant’s Redemption Order. 
 R1.1.5 Within 15 minutes after the phone call initiating the Redemption Order, the Authorized Participant will fax the Redemption Order to the Trustee using the Redemption Order Form included as part of
the Participant Agreement. 
 R1.1.6 The Redemption Order Form provides, among other things, for the number of Baskets that the
Authorized Participant is redeeming and the condition that the Redemption Order is subject to Trustee’s receipt of the Transaction Fee by SPO/DTC Charge prior to the delivery of the Swiss Francs to the Authorized Participant on REDEMPTION
T+3. 
 R1.1.7 If the Trustee has not received the Redemption Order Form from the Authorized Participant within 15 minutes
after the Authorized Person placed the phone call to the Trustee, the Trustee places a phone call to the Authorized Participant to inquire about the status of the order. If the Authorized 

  
 A-5

 
Participant does not fax the Redemption Order Form to the Trustee within 15 minutes after the Trustee’s phone call, the Authorized Participant’s order is cancelled, but the Authorized
Participant will remain liable to the Trustee for the Transaction Fee. 
 R1.2 If the Trustee has received the Authorized
Participant’s Redemption Order Form on time in accordance with the preceding timing rules, then by 5:00 p.m. NYC time on REDEMPTION T, the Trustee will return to the Authorized Participant a copy of the Redemption Order Form submitted, marking
it “Affirmed subject to receipt of Transaction Fee prior to delivery of the Swiss Francs on REDEMPTION T+3” and indicating, on a preliminary basis subject to confirmation, the number of Swiss Francs the Participant will receive upon
redemption of the indicated Basket(s) of Shares. 
 R1.3 For each Redemption Order, the Trustee sends an authenticated
electronic message (SWIFT MT202 or MT103plus) to the Depository indicating the amount of Swiss Francs to transfer from the Deposit Account by wire (RTGSplus, EBA EURO1 or TARGET) to the Authorized Participant’s designated account by 3:30 p.m.
CET (usually 9:30 a.m. NYC time) on REDEMPTION T+3. 
 R1.4 NOTES FOR TRUSTEE AND DEPOSITORY (REDEMPTION T) 

R1.4.1 The Trustee will prepare an authenticated electronic message (SWIFT MT202 or MT103plus) containing instructions on REDEMPTION T
specifying REDEMPTION T+3 as the date on which the instructions will be executed. 
 R1.4.2 The Trustee will only deliver
the authenticated electronic message (SWIFT MT202 or MT103plus) to the Depository on T+3 after confirming the Trustee’s receipt of Shares from the Authorized Participant through DTC. 

 

	R2	REDEMPTION T+1 

 R2.1
Redemption Orders and related instructions are in process. 
 R2.2 The Depository receives the authenticated electronic message
(SWIFT) or e-mail from the Trustee notifying the Depository of the approximate amount of Swiss Francs needed to be remitted to each Authorized Participant that has placed a Redemption Order on REDEMPTION T+3. 

 

	R3	REDEMPTION T+2 

 On
REDEMPTION T+2 the Trustee notifies the Authorized Participant of the final amount of Swiss Francs the Authorized Participant will receive upon redemption of the Basket(s) on Redemption T+3 (the “Basket Swiss Francs Amount”).

  

	R4	REDEMPTION T+3 

 R4.1 Prior
to the delivery of the Basket Swiss Francs Amount on REDEMPTION T+3, the Trustee must have received the Transaction Fee from the Authorized Participant (SPO/DTC) Charge. 
 R4.2 By 3:30 p.m. CET (usually 9:30 a.m. NYC time), the Authorized Participant delivers free to the Trustee’s participant account at DTC
(#                    ) the Shares to be redeemed. The Authorized Participant telephones the Trustee’s DTC operations desk ((718)
315-4970 or 4967) to expect the Authorized Participant’s Shares through DTC. 
 R4.2.1 By 3:30 p.m. CET (usually 9:30 a.m.
NYC time), the Trustee’s DTC operations desk notifies the Trustee whether the Shares being redeemed by the Authorized Participant have been received into the Trustee’s participant account at DTC. 

  
 A-6

 R4.2.2 By 3:30 p.m. CET (usually 9:30 a.m. NYC time), if the Shares being redeemed by the
Authorized Participant have been received into the Trustee’s participant account at DTC, the Trustee’s DTC operations desk accepts the Shares to be redeemed, notifies the Trustee that the Trustee has received the Authorized
Participant’s Shares and identifies the Authorized Participant from whom the Shares have been received. 
 R4.2.3 By 3:30
p.m. CET (usually 9:30 a.m. NYC time), if the Shares of a redeeming Authorized Participant have not been received into the Trustee’s participant account at DTC, the Trustee’s operations desk notifies the Trustee that the Trustee has not
received the Shares from the Authorized Participant, and identifies the Authorized Participant from whom Shares have not been received. 
 R4.3 By 3:30 p.m. CET (usually 9:30 a.m. NYC time), the Trustee sends an authenticated electronic message (SWIFT MT202 or MT103plus) to the Depository directing the Depository to transfer the Basket Swiss
Francs Amount to the accounts of those Authorized Participants from whom the Trustee has received Shares. The Swiss Francs will be sent to the designated accounts by wire (RTGSplus, EBA EURO1 or TARGET). 

R4.4 As of 3:30 p.m. CET time(usually 9:30 a.m. NYC time), following the receipt of the authenticated confirmatory electronic message
from the Trustee, the Depository executes the instructions from the Trustee to wire the Basket Swiss Francs Amount from the Trust Account and to transfer the Basket Swiss Francs Amount to the Authorized Participant’s designated account.

 R4.4.1 By DTC free delivery cut-off time (usually 2:00 p.m. NYC time), the Trustee’s DTC operations desk instructs the
Trustee’s transfer agent services desk to cancel Shares received for redemption. 
 R4.4.2 By DTC free delivery cut-off
time (usually 2:00 p.m. NYC time), the Trustee’s transfer agent services desk cancels the Authorized Participant’s Shares received for redemption and reduces the number of Trust Shares outstanding. 

R4.5 Following the close of business (usually 3:30 p.m. CET) on REDEMPTION T+3, the Depository makes the appropriate entries in its
books and records to reflect the redemptions. 
 R4.6 Following the close of business (usually 3:30 p.m. CET) on REDEMPTION
T+3, the Depository Swiss Francs system updates its account records, recording the movements of Swiss Francs in the Deposit Account and providing updated balances in the affected accounts as of the close of business (usually 3:30 p.m. CET) on
REDEMPTION T+3. 
 R4.7 Following the close of business (usually 3:30 p.m. CET) on REDEMPTION T+3, the Depository Swiss
Francs system automatically generates an authenticated electronic message (SWIFT MT140 or Swift MT950) constituting a statement of the activity affecting the Deposit Account (received only by the Trustee). 

  
 A-7

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

			
	 Name of Party
	  	 Date of Agreement

		
	Goldman Sachs & Co.	  	June 22, 2006
		
	Merrill Lynch Professional Clearing Corp.	  	June 26, 2006
		
	Timber Hill LLC	  	May 21, 2007
		
	ABN AMRO Clearing Chicago LLC (f/k/a Fortis Clearing Americas LLC, f/k/a O’Connor & Co. LLC)	  	October 30, 2007
		
	JPMorgan Securities, Inc. (as assigned by Bear, Stearns & Co. Inc.)	  	December 12, 2007
		
	EWT, LLC	  	July 14, 2008
		
	Newedge USA, LLC	  	August 26, 2008
		
	Goldman Sachs Execution & Clearing LP	  	October 24, 2008
		
	Citadel Securities LLC (f/k/a Citadel Derivatives Group, LLC and Citadel Trading Group, LLC)	  	November 13, 2008
		
	Knight Clearing Services, LLC	  	March 25, 2010
		
	Nomura Securities International Inc.	  	June 14, 2010
		
	Morgan Stanley & Co. Inc.	  	August 26, 2010
		
	Virtu Financial BD LLC	  	December 3, 2010
		
	RBC Capital Markets, LLC	  	April 15, 2011
		
	CitiGroup Global Markets, Inc.	  	August 26, 2011

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

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