Document:

Form of Customer Agreement

 Exhibit 10.1 
 Global Futures and Options Department 
 Deutsche Bank Securities Inc. 
 60 Wall Street 
 New York, New York 10019 
 Telephone (212) 250-2034 
 Telefax (212) 797-2042 
 FORM OF 
 FUTURES AND OPTIONS
AGREEMENT 
 FOR INSTITUTIONAL CUSTOMERS 
 In consideration of the acceptance by Deutsche Bank Securities Inc. (which, together with its affiliates (“Affiliates”) is referred to as “DBSI” unless otherwise specified herein) of one or
more accounts for the undersigned, PowerShares DB Multi-Sector Commodity Trust, a Delaware Statutory Trust organized in series (the “Trust”) with respect to one of its series, PowerShares DB
                 Fund (“Customer”) (all accounts of the Customer with DBSI being collectively referred to as the “Account”), Customer agrees
that this Agreement shall govern all dealings between Customer and DBSI relating to transactions that DBSI may execute, clear and/or carry on Customer’s behalf for the purchase or sale of futures contracts (“Futures Contracts”) or
options thereon (“Option Contracts”; Futures Contracts and Option Contracts collectively being “Contracts”).  
 1. Relevant
Law. 
 The Account and every Contract executed and/or cleared by DBSI on Customer’s behalf shall be subject to (a) this
Agreement; (b) the Commodity Exchange Act, as amended (“CEA”) and all rules, regulations and interpretations of the Commodity Futures Trading Commission (the “Commission”); (c) all rules, regulations and interpretations
of the National Futures Association (“NFA”); and (d) the constitution, by-laws, rules, interpretations and customs of each applicable exchange and clearing organization (each exchange and clearing house being collectively an
“Exchange”) ((b) through (d), as in effect from time to time, collectively being “Relevant Law”). 
 2. Margin. 
 (a) The Trust, on behalf of the Customer, agrees that it will deposit and maintain cash, acceptable securities or other assets (as defined in
Section 2(d)), in order to satisfy initial and variation margin requirements and make any premium payments in connection with each Contract, in the amount, at the times and in the manner required by DBSI or Relevant Law. DBSI has no obligation
to set uniform margin requirements, commissions or other charges and DBSI’s margin requirements may exceed Exchange requirements. After providing Customer with reasonable prior notice, DBSI, exercising reasonable discretion, may change the
margin requirements for any Account or Contract. 
 (b) DBSI will comply with all applicable provisions of the CEA and Commission regulations
relating to the segregation and handling of customer property with respect to property deposited by the Trust, on behalf of the Customer. Without limitation of the foregoing, DBSI will not pledge, rephypothecate, loan or invest any such property
except in connection with the margining of Contracts entered into by the Trust, on behalf of the Customer. Any property deposited by the Trust, on behalf of the Customer, may be transferred or pledged by DBSI to any Exchange or clearing broker to
satisfy obligations of customers of DBSI. 

 (c) DBSI agrees that it will pay Customer interest on cash margin deposited by the Trust, on behalf of
the Customer, at rates mutually agreed to from time to time. Customer will receive all interest or other distributions or income on securities Customer has deposited with DBSI. 
 (d) For purposes of this Section, acceptable securities or other assets means securities or other assets acceptable (i) under the rules of the
relevant Exchange and (ii) to DBSI in its reasonable discretion. The value of acceptable securities or other assets deposited in Customer’s Accounts will be determined by DBSI in its reasonable judgment. 
 (e) Customer will be entitled to or responsible for any profit, loss or risk, and any related costs, arising from currency conversions or exposures
incidental to Customer’s trading of Contracts (including those related to the margining of Contracts denominated in currencies other than those deposited by Customer). Any currency conversions will be made at DBSI’s then current rates of
exchange. 
 3. Other Payments To DBSI. 
 The Trust, on behalf of the Customer, agrees to pay (i) commissions and brokerage charges for each Contract and Account as mutually agreed by Customer and DBSI from time to time; (ii) all fees, charges, taxes, fines and penalties
incurred by DBSI or imposed by any regulatory or self-regulatory organization (including any Exchange) with respect to such Contracts or Accounts; (iii) any and all losses, debit balances or deficiencies in any Account; and (iv) any
interest on any deficiencies or debit balance in such Account and on any funds advanced to or provided on behalf of Customer at a rate to be agreed upon by the Trust, on behalf of the Customer, and DBSI. Such interest rate shall be confirmed to
Customer in writing. 
 4. Option Exercise; Delivery. 
 (a) The Trust, on behalf of the Customer, is required to give DBSI notice of any intention to make or take delivery under any Futures Contract or to exercise any Option Contract, in accordance with DBSI’s
instructions, and to satisfy any payment or delivery requirements in connection with its performance under such Futures or Option Contracts. 
 (b) The Trust, on behalf of the Customer, understands that certain Option Contracts are subject to exercise at any time. Upon the receipt of an exercise notice for this type of Option Contract, DBSI will allocate the notices in accordance
with Relevant Law to customers who have open short positions in the Option Contract (including Customer). The assignment of any exercise notice to Customer by DBSI will be final and binding upon Customer. DBSI will use reasonable efforts to notify
Customer of any assignment of an exercise notice to Customer. 
 (c) If the Trust, on behalf of the Customer, does not furnish DBSI with
instructions regarding the disposition of a Contract within the time specified by DBSI, DBSI will be entitled to take or refrain from taking any action it deems appropriate and will have no liability to Customer. These actions might include the
exercise of, or failure to exercise, an Option Contract or the liquidation of any Contract on any Exchange (including those Exchanges whose rules provide for automatic exercise). 
 5. Position Limits. 
 (a) The Trust, on behalf of the Customer, agrees to comply with the position
limits established by Relevant Law, to notify DBSI promptly if it is required to file any position report and, upon request, promptly to provide copies of any such reports to DBSI. 
 (b) Upon reasonable notice to Customer, DBSI may limit the size and number of open Contracts (net or gross) that Customer may execute, clear and/or carry
with it. DBSI’s position limits may be more restrictive than the limits imposed under Relevant Law. The Trust, on behalf of the Customer, agrees that it will not place any order, which, if filled, would cause Customer to exceed these limits.
Further, DBSI may require Customer to liquidate any open positions carried in Customer’s Account, and may refuse to accept any order of Customer establishing a new position in order to comply with such limits. 
 (c) DBSI may in its sole discretion select executing brokers, clearing and non-clearing brokers and floor brokers, whether or not affiliated or related to DBSI, to
execute, clear or carry Customer’s transactions hereunder. 
  

 -2- 

	6.	Advice; No Warranty as to Information, Etc. 

 (a)
The Trust, on behalf of the Customer, acknowledges and agrees that: (i) Customer and any advisor of Customer have sole responsibility for all decisions for the Account; (ii) DBSI is not an advisor or fiduciary with respect to Customer, any
Account or any action of Customer in connection with an Account or Contract and DBSI assumes no responsibility for compliance with any law or regulation governing the conduct of any such fiduciary or advisor or for Customer’s compliance with
any law or regulation governing or affecting Customer; (iii) DBSI makes no representation, warranty or guarantee as to, and will not be liable or responsible for, the accuracy, completeness or reliability of any advice or recommendation, or any
market information, furnished to Customer; (iv) recommendations to Customer as to any particular transaction at any given time may differ among DBSI’s personnel and may vary from any recommendations made to others; and (v) any advice
provided by DBSI with respect to a Contract or Account is incidental to DBSI’s business as a futures commission merchant and will not serve as the primary basis for any decision by or on behalf of Customer. 
 (b) The Trust, on behalf of the Customer, agrees that DBSI, its officers, directors, stockholders, representatives or associated persons may have certain
conflicts of interest in connection with the services contemplated hereby, including but not limited to conflicts arising from positions established for their proprietary accounts in Contracts that are the subject of market recommendations furnished
to Customer. Such positions or other actions of such persons may not be consistent with any recommendations furnished to Customer by DBSI. 
 7. Trust and
Customer Representations, Warranties and Agreements. 
 The Trust, and to the extent applicable, the trust on behalf of the Customer,
represents and warrants to DBSI that as of the date of this Agreement and on the date each transaction relating to a Contract or Account is entered into under this Agreement: 
 (a) (i) The Trust is duly organized under the laws of the applicable jurisdiction and the execution, delivery and performance of this Agreement by
the Trust, on behalf of the Customer, have been authorized by all necessary corporate or other action; (ii) the Trust, on behalf of the Customer, has full power and authority to enter into this Agreement and to perform its obligations under
this Agreement; (iii) this Agreement is valid and binding on the Trust, on behalf of the Customer, is enforceable against it in accordance with its terms and neither this Agreement nor the trading of Contracts violate Relevant Law or any other
law or regulation governing or affecting Customer’s activities under this Agreement or any order or agreement applicable to Customer or Customer’s property; (iv) the Trust, on behalf of the Customer, has and will maintain in full
force and effect any and all necessary governmental or other approvals or authorizations to execute and deliver this Agreement, perform its obligations hereunder; (v) the Trust, on behalf of the Customer, and any other person involved in the
management of Customer or its Account, are in compliance with all Relevant Law and any other law or regulation governing or affecting Customer’s activities under this Agreement, including but not limited to all applicable registration
requirements; and (vi) the Trust, on behalf of the Customer, is acting solely as principal and no person other than Customer has any interest in or any control over any Account of Customer. 
 (b) Customer is not an employee, partner, officer, director or owner of more than ten percent of the equity interest of a futures commission merchant, an
introducing broker, Exchange or any self-regulatory organization nor is Customer an employee or commissioner of the Commission, except as previously disclosed in writing to DBSI. 
 (c) If Customer is subject to the Financial Institution Reform, Recovery and Enforcement Act of 1989, the certified resolutions set forth following this
Agreement have been caused to be reflected in the minutes of Customer’s Board of Directors (or other comparable governing body) and this Agreement is and shall be, continuously from the date hereof, an official record of Customer. 

(d) If Customer is an insured depository subject to the Federal Deposit Insurance Act, Customer has taken all action and maintained such records
required to be taken or maintained by it to effect and maintain the enforceability of this Agreement pursuant to the Federal Deposit Insurance Act, and the person executing this Agreement on behalf of Customer is an authorized person with at least
the rank of vice president. 
  

 -3- 

 (e) Unless Customer notifies DBSI to the contrary, Customer is a “U.S. Person.” For purposes of
this Section 7(e), a “U.S. Person” is a Customer located in the United States, its territories or possessions, or if Customer is a foreign incorporated collective investment vehicle (a fund) whose place of business is outside of the
United States, its territories and possessions, such Customer will be deemed to be a “U.S. Person” if 10% or more of such Customer is beneficially owned by residents of the United States, its territories or possessions. 
 (f) The Trust, on behalf of the Customer, agrees promptly to notify DBSI in writing if any of the warranties or representations contained in this Section 7 becomes
inaccurate or incomplete in any respect and to provide financial and other information to DBSI at any time upon its reasonable request, and represents that any such information will be accurate and complete in every material respect. The Trust, on
behalf of the Customer, shall also notify DBSI promptly of any material adverse change in the financial condition of Customer, regardless of whether Customer has previously furnished financial information to DBSI. 
 8. Indemnification; Limitation of Liability. 
 (a)
Customer shall indemnify, defend and hold harmless DBSI and its officers, employees and agents for any fine, penalty, tax, loss, liability or cost, including reasonable attorneys’ fees, incurred by DBSI that directly or indirectly arises out of
or is related to (i) Customer’s refusal or failure to comply with Relevant Law or any other law or regulation governing or affecting Customer’s activities under this Agreement or any provision of this Agreement or
(ii) Customer’s breach of any representation, warranty, covenant or obligation contained in this Agreement. In addition, the Trust, on behalf of the Customer, agrees to pay any attorneys’ fees and expenses incurred by DBSI in
collecting any amount due by Customer under this Agreement or in defending against any claim brought by Customer in any suit, arbitration or reparations proceeding in which DBSI is the prevailing party. 
 (b) The Trust, on behalf of the Customer, acknowledges that DBSI does not guarantee the performance by any Exchange or other third party, including any
third party clearing or intermediate broker, with respect to any Contract and, accordingly, the Trust, on behalf of the Customer, agrees that DBSI has no responsibility or liability to Customer for any loss or cost sustained or incurred by Customer
due to Customer’s, an Exchange’s or any other third party’s actions or omissions in connection with any Contract unless caused solely by DBSI’s gross negligence or willful breach of this Agreement. 
 (c) DBSI shall not be liable for the non-performance of any obligation, or any fine, sanction, penalty, expense, tax, loss, liability or cost, caused by
any events outside the control of DBSI, including but not limited to any (i) action or order of any government, judicial institution, Exchange or other self regulatory organization, (ii) temporary or permanent suspension or termination of
trading for whatever reason, (iii) failure or malfunction of transmission or communication facilities, (iv) delay or failure by any Exchange to enforce its rules or pay or return any amount owed with respect to any Contracts executed
and/or cleared for Customer’s Accounts or (v) actions or omissions of third party brokers. 
 (d) NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE
CONTRARY, IN NO EVENT SHALL DBSI OR ANY OF ITS DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS BE LIABLE UNDER ANY THEORY OF TORT, CONTRACT, STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY FOR LOST PROFITS, LOST REVENUES, LOST BUSINESS OPPORTUNITIES OR
EXEMPLARY, PUNITIVE, SPECIAL, INCIDENTAL, INDIRECT, CONSEQUENTIAL OR SIMILAR DAMAGES, EACH OF WHICH IS HEREBY EXCLUDED BY AGREEMENT OF THE PARTIES, REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE OR WHETHER DBSI HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES. 
  (e) Notwithstanding anything to the contrary provided herein, DBSI agrees that, pursuant to Section 3804(a) of the
Delaware Statutory Trust Act, the liabilities of the Customer shall be limited such that (a) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing and relating to this Agreement with respect to the
Customer shall be enforceable against the assets of the Customer only, and not against the assets of the Trust (other than those assets of the Trust that are the Customer’s assets) or the assets of DB Multi-Sector Commodity Master Trust (the
“Master Trust”) generally or the assets of any other series of the Trust and (b) none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing and relating to this Agreement with respect to
the Trust or Master Trust generally and any other series of the Trust shall be enforceable against the assets of the Customer. DBSI further agrees that it 
   

 -4- 

 shall not seek satisfaction of any such obligation from the shareholders, any individual shareholder, officer,
representative or agent of the Trust, Master Trust or customer, nor shall DBSI seek satisfaction of any such obligation from the DB Commodity Services LLC (the managing owner of the Trust, Master Trust and the Customer), its members, managers,
directors or officers. 
 9. Communication Between the Parties; Confirmations Conclusive. 
 (a) The Trust, on behalf of the Customer, must specify in a written notice to DBSI the persons authorized to place orders or give DBSI instructions on
Customer’s behalf. Any additions or amendments to this notice must be communicated to DBSI and any oral communication of such an addition or amendment must be promptly confirmed by the Trust, on behalf of the Customer, in writing. DBSI will not
be bound by such amendments or additions until written confirmation is received. 
 (b) DBSI may rely on any order for the purchase or sale
of Contracts, or any notice or other communications that are given by the Trust, on behalf of the Customer, or that DBSI reasonably believes to have originated from the Trust, on behalf of the Customer, or from Customer’s duly authorized agent
and the Trust, on behalf of the Customer, shall be bound by any such order, notice or communication and any action taken or not taken by DBSI in reliance thereon. 
 (c) Confirmations of trades and any other similar notices, including but not limited to purchase and sale statements, sent to the Trust, on behalf of the Customer, shall be conclusive and binding unless The Trust, on
behalf of the Customer, or Customer’s agent notifies DBSI to the contrary, (i) where a report is made orally, orally at the time received by the Trust, on behalf of the Customer, or its agent, or (ii) where a report or notice is in
writing, in writing prior to the opening of trading on the next day following receipt of the report on which the relevant Exchange is open for business. Monthly statements of the Account shall be conclusive and binding unless the Trust, on behalf of
the Customer, or Customer’s agent notifies DBSI to the contrary within five business days of Customer’s receipt thereof. 
 (d)
DBSI shall transmit all communications to the Trust, on behalf of the Customer, at Customer’s address, telex, telefax or telephone number or to such other address as Customer may hereafter direct in writing. The Trust, on behalf of the
Customer, shall transmit all communications to DBSI to the address, telex, telefax or telephone number at the beginning of this Agreement, Attention: Futures Administrator. All payments and deliveries to DBSI shall be wired, mailed or otherwise
transmitted to DBSI pursuant to DBSI’s instructions and shall be deemed received only when actually received by DBSI. 
 10. Security Interest.

 Subject to Section 8(e) above, all money, credit balances, Contracts and other property in which Customer has any ownership
interest, now or at any future time held in Customer’s Account or otherwise held by DBSI for Customer or any affiliate of Customer and any amount due to DBSI for Customer’s Account from any Exchange or clearing broker in connection with
any Contracts, and all proceeds thereof, is hereby pledged to DBSI and shall be subject to a general lien and first priority security interest and right of setoff in DBSI’s favor to secure any indebtedness of Customer to DBSI arising under this
Agreement or any transactions in Contracts hereunder. 
 11. DBSI’s Right to Liquidate Customer Positions. 
 (a) In addition to all other rights of DBSI set forth in this Agreement, DBSI has the right, upon the occurrence of any of the events specified in
(i) through (viii) below, to take any or all of the actions specified in subdivision (b) of this Section: 
 (i) if DBSI is so directed or required by a regulatory or self-regulatory organization or Exchange having jurisdiction over DBSI or the Account; 
 (ii) if the Trust, on behalf of the Customer, repudiates, violates, breaches or fails to perform on a timely basis any obligation, term, covenant or condition required to be performed by the Trust, on behalf of the
Customer, under this Agreement; 
 (iii) if the Trust, on behalf of the Customer, fails to post the initial or variation
margin required by this Agreement, or fails to pay any required premium or make any other payments required under this Agreement or in connection with any Contract; 
 (iv) if the Trust, on behalf of the Customer, is in material breach of or in material default under any contract or agreement to which it
is a party or by which it or any of its assets are bound; 
  

 -5- 

 (v) if any representation made by the Trust, or the Trust on behalf of the Customer, or
by Customer’s Advisor, if any, is not accurate or complete, or ceases to be accurate or complete in any material respect; 
 (vi) if a voluntary or involuntary case or other proceeding is commenced by or against the Trust, with respect to the Customer, seeking liquidation, reorganization or other relief with respect to itself or any of its debts under any
bankruptcy, insolvency or similar law, or seeking the appointment of a trustee, receiver, liquidator, conservator, administrator, custodian or other similar official of it or any substantial part of its assets, or if the Trust, on behalf of the
Customer, enters into or proposes to enter into any arrangement for the benefit of any of its creditors, or if the Trust, on behalf of the Customer, or any or all of its property is or becomes subject to any agreement, order, judgment or decree that
provides for Customer’s merger, consolidation, dissolution, winding-up, liquidation, reorganization or appointment of a trustee, receiver, liquidator, conservator, custodian or similar officer for Customer or for Customer’s property, or if
the Trust, on behalf of the Customer, takes any corporate action to authorize any of the foregoing; 
 (vii) if the Account,
any other account maintained by the Trust, on behalf of the Customer, or an affiliate of Customer with DBSI or the property described in Section 10 becomes subject to any lien, warrant, attachment or similar order or encumbrance; or 

(viii) if, after allowing the Trust, on behalf of the Customer, an opportunity to provide assurances acceptable to DBSI within a
reasonable time period, DBSI reasonably determines such action is necessary for its protection. 
 (b) In each such instance, DBSI may
(1) satisfy any obligations due DBSI out of any of Customer’s property in DBSI’s custody or control, (2) liquidate any or all of Customer’s Contracts, (3) decline to execute any or all of Customer’s outstanding
orders, (4) make Customer’s obligations to DBSI immediately due and payable, (5) acting in a commercially reasonable manner, sell any or all of Customer’s property in DBSI’s custody or control and set off and apply any such
property or the proceeds of the sale of such property to satisfy any amounts owed by Customer to DBSI, (6) set off any obligations of DBSI under this Agreement against the obligations of Customer to DBSI hereunder, (7) set off any cash,
Contracts or property held for Customer by DBSI against amounts owed to DBSI by Customer hereunder, (8) purchase or borrow any securities or other property required to settle any outstanding transactions or positions for the Account, and
(9) settle any outstanding transactions or positions for the Account. 
 (c) Before exercising any rights under Section 11(b), DBSI
will send a notice to the Trust, on behalf of the Customer, of the action that it intends to take provided that DBSI will be entitled to take any such action regardless of whether such notice is received by the Trust, on behalf of the
Customer. Any prior demand or notice by DBSI shall not be a waiver of any right of DBSI to take any action authorized by this Agreement or Relevant Law. 
 (d) At all times, Customer will be liable for the payment of any debit balance or deficiency in the Account, together with interest on such amounts and all costs relating to any liquidation or collection, including
reasonable attorneys’ fees. 
 12. Payment Netting and Setoff. 
 The Trust, on behalf of the Customer, acknowledges and agrees that DBSI has the right to setoff and apply any amounts, fees or charges due to it hereunder against amounts held in any Accounts of Customer subject to
this Agreement provided that any Account subject to setoff under this Section is owned solely by the same Customer. 
 13. Termination.

 A party wishing to terminate this Agreement must provide the other party with written notice of termination sent by certified mail
specifying the effective date of such termination. Any termination under this Section will not affect any transactions entered into prior to the effective date of such termination or any liability or obligation incurred prior to such date. Upon
termination under this Section, DBSI will either transfer all open positions in Customer’s Account to another futures commission merchant of Customer’s choice, if so instructed by the Trust, on behalf of the Customer, or liquidate all such
positions. DBSI will not transfer any of Customer’s property or Contracts held or controlled by it until the Trust, on behalf of the Customer, satisfies all obligations to DBSI arising under this Agreement, including the payment of any fees for
the transfer of Contracts to another futures commission merchant upon termination of this Agreement. 
  

 -6- 

 14. Governing Law; Consent to Jurisdiction. 
 (a) In case of a dispute between Customer and DBSI arising out of or related to this Agreement or any transaction hereunder, (i) except with
respect to Section 8(e) above, which shall be construed, interpreted, and enforced in accordance with and governed by the laws of the State of Delaware, the construction, validity, performance and enforcement of this Agreement will be governed
by the laws of the State of New York in all respects (without giving effect to principles of conflict of laws), and (ii) the Trust, on behalf of the Customer, and DBSI each agrees to bring any legal proceeding against the other party
exclusively in, and each such party consents in any legal proceeding brought by the other party in connection with or related to this Agreement or breach thereof, the Account or any transactions entered into hereunder to the jurisdiction of, any
state or federal court located within the City of New York. 
 (b) The Trust, on behalf of the Customer, and DBSI each expressly waives
(i) all objections it may at any time have as to the jurisdiction of any court described in Section 14(a) above in which any such legal proceedings may be commenced and (ii) any defense of sovereign immunity or other immunity from
suit or enforcement, whether before or after judgment. The Trust, on behalf of the Customer, and DBSI each also agrees that any service of process mailed to it at any address provided by the receiving party shall be deemed a proper service.

 15. Miscellaneous. 
 (a) Available
Funds. The Trust, on behalf of the Customer, agrees that all payments of cash by it to DBSI shall be made in immediately available funds in such currency and to such bank account as DBSI may from time to time specify. If the Trust, on behalf of
the Customer, is required by law to make any deduction or withholding, Customer will pay such amount to DBSI as will result in DBSI’s receiving an amount equal to the full amount which would have been received had no such deduction or
withholding been required. 
 (b) Consent to Recording. The Trust, on behalf of the Customer, and DBSI each consents to the electronic
recording of any or all telephone conversations with the other party (without automatic tone warning device), the use of same as evidence by either party in any action or proceeding arising out of the Agreement and the recording party’s
erasure, at its sole discretion, of any recording as part of its regular procedure for handling of recordings. 
 (c) Authority to
Disclose Information. The Trust, on behalf of the Customer, hereby authorizes DBSI to disclose any financial, credit or business information it has obtained concerning Customer to any Affiliate of DBSI, and authorizes any such Affiliate to
disclose like information to DBSI, in either case solely for the purpose of permitting DBSI to perform its obligations, or enforce its rights, under this Agreement. Any such information will be kept confidential according to the internal policies of
DBSI and its Affiliates. 
 (d) Modification. This Agreement may only be modified or amended by mutual written consent of DBSI and the
Trust, on behalf of the Customer. Any modification, amendment, alteration or waiver of this Agreement will not affect any outstanding orders or transactions or any legal rights or obligations that may have already arisen between DBSI and Customer.

 (e) Cumulative Rights; No Waiver. The rights and remedies conferred upon DBSI will be cumulative, and its forbearance to exercise
any right or remedy under this Agreement will not waive its right to take such action at any later time, nor shall such forbearance constitute a modification of this Agreement. 
 (f) Successors and Assigns. This Agreement will inure to the benefit of DBSI, its permitted successors and assigns, and will be binding upon
Customer and Customer’s successors and assigns, provided, however, that this Agreement may not be assigned or delegated by either party without the prior written consent of the other party hereto and any purported assignment or
delegation without such consent shall be void. 
 (g) Severability. If any term or provision of this Agreement or the application
thereof to any persons or circumstances is found to be inconsistent with any Relevant Law or otherwise to be invalid or unenforceable, such inconsistent, invalid or unenforceable provision will be deemed to be superseded or modified to conform to
such Relevant Law, but the remainder of this Agreement and/or the application of such term or provision to persons or circumstances other than those as to which it is contrary, invalid or unenforceable, will not be affected thereby. 
 (h) Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original,
but all of which shall together constitute one and the same instrument. 
  

 -7- 

 (i) Entire Agreement. This Agreement, together with any Annexes hereto entered into between DBSI
and the Trust, on behalf of the Customer, constitutes the entire agreement between the Trust, on behalf of the Customer, and DBSI with respect to the subject matter hereof and supersedes any prior agreements between the parties with respect to such
subject matter. 
 (j) Multiple Customers. If the signatory of this Agreement has the authority to enter into the Agreement on behalf
of more than one Customer (each such Customer being identified on the attached Schedule I), the execution of the Agreement by such signatory shall be sufficient to bind each such Customer to the terms of the Agreement to the same extent and
with the same force and effect as if each Customer had executed a separate Agreement. 
 16. Acknowledgment of Receipt of Disclosure Statements; Hedging
Election. 
 (a) Customer acknowledges and agrees that it has received from DBSI and has read and understood the following document:

 (Please check box to so acknowledge) 
  ̈  Risk Disclosure Statement For Futures and Options pursuant to Appendix A to CFTC Regulation
1.55(c). 
 (b) Pursuant to CFTC Regulation 190.06(d), Customer specifies and agrees, with respect to hedging transactions in the Account,
that, in the unlikely event of DBSI’s bankruptcy, it prefers that the bankruptcy trustee (check appropriate box): 
  ̈  Election A - Liquidate all open contracts without first seeking instructions either from or on behalf of Customer. 
  ̈  Election B - Attempt to
obtain instructions with respect to the disposition of all open contracts. 
 (If neither box is checked, Customer shall be
deemed to have elected A.) 
 The undersigned has read, understands and agrees to all of the provisions of this Agreement.

  

 -8- 

			
	  
 Dated
	 	

  

			
	Customer Name:
	
	 PowerShares DB Multi-Sector Commodity Trust with respect to PowerShares DB
                 Fund

		
	By:	 	DB Commodity Services, LLC, the Managing Owner of PowerShares DB                  Fund

  

											
	By:	  	  
	  		 	By:	 	  
	 	
		  	Authorized Signature	  		 		 	Authorized Signature	 	
						
		  	  
	  		 		 	  
	 	
		  	Print Name and Title	  		 		 	Print Name and Title	 	

  

					
	  
 Address

	
	  
 City, State

	
	  
 Zip Code

			
	  
 Telephone
	 		 	  
 Telefax

  

 -9- 

 Schedule I—Independent Customers Deemed to Have Entered Into Separate Agreements HereunderForm of Administration Agreement

 Exhibit 10.2 
 FUND ADMINISTRATION AND ACCOUNTING AGREEMENT 
  AGREEMENT made as of November
    , 2006, by and between PowerShares DB Multi-Sector Commodity Trust (the “Trust”) and DB Multi-Sector Commodity Master Trust (the “Master Trust,” and collectively with the Trust,
referred to as the “Trusts”), each entity listed on Exhibit A hereto, each a separate series of either the Trust or the Master Trust (each, a “Fund”; collectively, the “Funds”), and The Bank of New York, a New York
banking organization (“BNY”). 
  W I T N E S S E T H:

  WHEREAS, each of the Trusts on behalf of each of their corresponding Funds, desire to retain BNY to provide the services described
herein, and BNY is willing to provide such services, all as more fully set forth below; 
  NOW, THEREFORE, in consideration of the
mutual promises and agreements contained herein, the parties hereby agree as follows: 
 1. Appointment. 
  Each of the Trusts, on behalf of each of their corresponding Funds, hereby appoints BNY as its agent for the term of this Agreement to perform the
services described herein. BNY hereby accepts such appointment and agrees to perform the duties hereinafter set forth. 
  2.
Representations and Warranties. 
  Each of the Trust and Master Trust, on behalf of each of their corresponding Funds, as
applicable, hereby represent and warrant to BNY, which representations and warranties shall be deemed to be continuing, that: 
  (a) Each
of the Trust and Master Trust is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now conducted, to enter into this Agreement on behalf of each Fund and to perform its
obligations hereunder; 
  (b) This Agreement has been duly authorized, executed and delivered by the Trusts on its own behalf and on
behalf of each Fund, in accordance with all requisite action and constitutes a valid and legally binding obligation of the Trusts and each Fund, enforceable in accordance with its terms; 
  (c) The Trusts and each Fund are conducting their respective businesses in compliance with all applicable laws and regulations, both state and federal,
and have obtained all regulatory licenses, approvals and consents necessary to carry on their respective businesses as now 

 conducted; there is no statute, regulation, rule, order or judgment binding on it and no provision of its charter or
by-laws, nor of any mortgage, indenture, credit agreement or other contract binding on it or affecting its property which would prohibit its execution or performance of this Agreement; and 
 (d) To the extent the performance of any services described in Schedule II attached hereto by BNY in accordance with the then effective Prospectus
(as hereinafter defined) for the Funds would violate any applicable laws or regulations, the Funds shall immediately so notify BNY in writing and thereafter shall either furnish BNY with the appropriate valuations, net asset value or other
computation, as the case may be, or, subject to the prior approval of BNY, instruct BNY in writing to value assets and/or compute net asset value or other computations in a manner each Fund specifies in writing, and either the furnishing of such
values or the giving of such instructions shall constitute a representation by such Fund that the same is consistent with all applicable laws and regulations and with its Prospectus. 
 3. Delivery of Documents. 
 (a) The
Trusts and each Fund will promptly deliver to BNY true and correct copies of each of the following documents, as applicable, as currently in effect and will promptly deliver to it all future amendments and supplements thereto, if any: 
 (i) The Trust’s organizational document and all amendments thereto (the “Charter”); 
 (ii) The Trusts’ registration statement most recently filed with the Securities and Exchange Commission (the “SEC”) relating to the
shares of the Fund (the “Registration Statement”) and the prospectus therein contained (the “Prospectus”); 
 (b) Each
copy of the certificate of trust for the Trust and Master Trust shall be certified by the Secretary of State (or other appropriate official) of the State of Delaware, and if the certificate of trust for the Trust and Master Trust is required by law
also to be filed with a county or other officer or official body, a certificate of such filing shall be filed with a certified copy submitted to BNY. Each copy of the Registration Statement and Prospectus, and all amendments thereto, shall be
certified by DB Commodity Services LLC, in its capacity as managing owner (the “Managing Owner”) of each of the Funds. 
 (c) It
shall be the sole responsibility of the Trust and Master Trust to deliver to BNY the currently effective Prospectus with respect to each Fund and BNY shall not be deemed to have notice of any information contained in such Prospectus until it is
actually received by BNY. 
  

 2 

 4. Duties and Obligations of BNY. 
  (a) Subject to the direction and control of DB Commodity Services LLC, in its capacity as managing owner of each of the Funds, and the provisions of this
Agreement, BNY shall provide separately to each Fund (i) the administrative services set forth on Schedule I attached hereto and (ii) the valuation and computation services listed on Schedule II attached hereto. Without
limiting the foregoing, it is agreed that all services with respect to federal, state and local income tax matters, including the preparation and filing of returns and reports, shall be provided by a third party retained by or on behalf of the
Funds, initially Price Waterhouse Coopers, and not by BNY. 
  (b) In performing hereunder, BNY shall provide, at its expense, office
space, facilities, equipment and personnel. 
 (c) BNY shall not provide any services relating to the management, investment advisory or
sub-advisory functions of any Fund, distribution of shares of any Fund, maintenance of any Fund’s financial records, other than those listed in Schedules I and II attached hereto, or other services normally performed by the Funds’
respective counsel or independent auditors. 
  (d) Upon receipt of prior written consent by the Trusts, on behalf of their corresponding
Fund, each as applicable (which shall not be unreasonably withheld), BNY may delegate any of its duties and obligations hereunder to any delegee or agent whenever and on such terms and conditions as it deems necessary or appropriate. Notwithstanding
the foregoing, no consent shall be required for any such delegation to any other subsidiary of The Bank of New York Company, Inc. BNY shall not be liable to the Trust, the Master Trust or to any Fund for any loss or damage arising out of, or in
connection with, the actions or omissions to act of any delegee or agent utilized hereunder so long as BNY acts in good faith and without negligence or willful misconduct in the selection of such delegee or agent. 
 (e) Each of the Trusts, on behalf of each of their corresponding Funds, shall cause its officers, advisors, sponsor, distributor, legal counsel,
independent accountants, current administrator (if any) and transfer agent to cooperate with BNY and to provide BNY, upon request, with such information, documents and advice relating to such Fund as is within the possession or knowledge of such
persons, in order to enable BNY to perform its duties hereunder. In connection with its duties hereunder, BNY shall be entitled to rely, and shall be held harmless by the Trusts and each of the Funds, as applicable when acting in reliance, upon the
information, documents and advice relating to such Fund provided to BNY by any of the aforementioned persons or Proper Instructions (as hereinafter defined). BNY shall not be liable for any loss, damage or expense resulting from or arising out of
the Trusts or any failure of the Fund to cause any information, documents or advice to be provided to BNY as provided herein. All fees or costs charged by such persons shall be borne by the appropriate Fund. 
   

 3 

 (f) Nothing in this Agreement shall limit or restrict BNY, any affiliate of BNY or any officer or
employee thereof from acting for or with any third parties, and providing services similar or identical to same or all of the services provided hereunder. 
  (g) The Trusts, on behalf of each of their corresponding Funds, shall furnish BNY with any and all instructions, explanations, information, specifications and documentation deemed necessary by BNY in the performance
of its duties hereunder, including, without limitation, the amounts or written formula for calculating the amounts and times of accrual of Fund liabilities and expenses. BNY shall not be required to include as Fund liabilities and expenses, nor as a
reduction of net asset value, any accrual for any federal, state, or foreign income taxes unless the Fund shall have specified to BNY the precise amount of the same to be included in liabilities and expenses or used to reduce net asset value. The
Trusts, on behalf of each of their corresponding Funds, shall also furnish BNY by Proper Instruction with bid, offer, or market values of assets if BNY notifies such Fund that same are not available to BNY from a pricing or similar service utilized,
or subscribed to, by BNY which BNY in its judgment deems reliable at the time such information is required for calculations hereunder. At any time and from time-to-time, the Trusts, on behalf of each of their corresponding Funds, also may furnish
BNY by Proper Instruction with bid, offer, or market values of assets and instruct BNY to use such information in its calculations hereunder. BNY shall at no time be required or obligated to commence or maintain any utilization of, or subscriptions
to, any pricing or similar service. In no event shall BNY be required to determine, or have any obligations with respect to, whether a market price represents any fair or true value, nor to adjust any price to reflect any events or announcements,
including, without limitation, those with respect to the issuer thereof, it being agreed that all such determinations and considerations shall be solely for the applicable Fund. 
 (h) BNY may apply to an officer of the Trusts, on behalf of each of their corresponding Funds, for Proper Instructions with respect to any matter arising
in connection with BNY’s performance hereunder for such Fund, and BNY shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with such Proper Instructions. Such application for Proper Instructions may,
at the option of BNY, set forth in writing any action proposed to be taken or omitted to be taken by BNY with respect to its duties or obligations under this Agreement and the date on and/or after which such action shall be taken, and BNY shall not
be liable for any action taken or omitted to be taken in accordance with a proposal included in any such application on or after the date specified therein unless, prior to taking or omitting to take any such action, BNY has received Proper
Instructions in response to such application specifying the action to be taken or omitted. 
   

 4 

 (i) BNY may consult with counsel to the appropriate Fund or its own counsel, at such Fund’s expense,
and shall be fully protected with respect to anything done or omitted by it in good faith in accordance with the advice or opinion of such counsel. 
 (j) Notwithstanding any other provision contained in this Agreement or Schedule I or II attached hereto, BNY shall have no duty or obligation to with respect to, including, without limitation, any duty or obligation to determine, or
advise or notify any Fund of: (i) the taxable nature of any distribution or amount received or deemed received by, or payable to, a Fund, (ii) the taxable nature or effect on a Fund or its shareholders of any corporate actions, class
actions, tax reclaims, tax refunds or similar events, (iii) the taxable nature or taxable amount of any distribution or dividend paid, payable or deemed paid, by a Fund to its shareholders; or (iv) the effect under any federal, state, or
foreign income tax laws of a Fund making or not making any distribution or dividend payment, or any election with respect thereto. 
 (k) BNY
shall have no duties or responsibilities whatsoever except such duties and responsibilities as are specifically set forth in this Agreement and Schedules I and II attached hereto, and no covenant or obligation shall be implied against BNY in
connection with this Agreement. 
  (l) BNY, in performing the services required of it under the terms of this Agreement, shall be
entitled to rely fully on the accuracy and validity of any and all Proper Instructions furnished to it by the Trusts, on behalf of each of their corresponding Funds, and shall have no duty or obligation to review the accuracy, validity or propriety
of such Proper Instructions including, without limitation, evaluations; the amounts or formula for calculating the amounts and times of accrual of liabilities and expenses; the amounts receivable and the amounts payable on the sale or purchase of
assets; and amounts receivable or amounts payable for the sale or redemption of Fund shares effected by or on behalf of a Fund. In the event BNY’s computations hereunder rely, in whole or in part, upon information, including, without
limitation, bid, offer or market values of assets, or accruals of interest or earnings thereon, from a pricing or similar service utilized, or subscribed to, by BNY which BNY in its judgment deems reliable, BNY shall not be responsible for, under
any duty to inquire into, or deemed to make any assurances with respect to, the accuracy or completeness of such information. Without limiting the generality of the foregoing, BNY shall not be required to inquire into any valuation of other assets
by a Fund or any third party described in this paragraph (l) even though BNY in performing services similar to the services provided pursuant to this Agreement for others may receive different valuations of the same or different securities of
the same issuers. 
  (m) BNY, in performing the services required of it under the terms of this Agreement, shall not be responsible for
determining whether any interest accruable to a Fund is or will be actually paid, but will accrue such interest until otherwise instructed by such Fund. 
  

 5 

 (n) BNY shall not be responsible for delays or errors which occur by reason of circumstances beyond its
control in the performance of its duties under this Agreement, including, without limitation, labor difficulties within or without BNY, mechanical breakdowns, flood or catastrophe, acts of God, failures of transportation, interruptions, loss, or
malfunctions of utilities, communications or computer (hardware or software) services. Nor shall BNY be responsible for delays or failures to supply the information or services specified in this Agreement where such delays or failures are caused by
the failure of any person(s) other than BNY to supply any instructions, explanations, information, specifications or documentation deemed necessary by BNY in the performance of its duties under this Agreement. 
 (o) BNY shall provide the Funds with custodial and transfer agency services on BNY’s standard terms for no additional consideration. 
 5. Allocation of Expenses. 
  Except as otherwise provided herein, all costs and expenses arising or incurred in connection with the performance of this Agreement shall be paid by the Trust and the Master Trust on behalf of each of their corresponding Funds, as
appropriate, including but not limited to, organizational costs and costs of maintaining corporate existence, taxes, interest, brokerage fees and commissions, insurance premiums, compensation and expenses of such Fund’s officers or employees,
legal, accounting and audit expenses, management, advisory, sub-advisory, administration and shareholder servicing fees, charges of custodians, transfer and dividend disbursing agents, expenses (including clerical expenses) incident to the issuance,
redemption or repurchase of Fund shares, fees and expenses incident to the registration or qualification under federal or state securities laws of each Fund or its shares, costs (including printing and mailing costs) of preparing and distributing
Prospectuses, reports, notices and proxy material to such Fund’s shareholders, all expenses incidental to holding meetings of such Fund’s shareholders, and extraordinary expenses as may arise, including litigation affecting such Fund and
legal obligations relating thereto for which the Fund may have to indemnify third parties. BNY shall maintain separate and distinct records with respect to all costs and expenses for each Fund. 
  6. Standard of Care; Indemnification. 
  (a) Except as otherwise provided herein, BNY shall not be liable for any costs, expenses, damages, liabilities or claims (including attorneys’ and accountants’ fees) incurred by the Trusts , or the Trusts on behalf of each of
their corresponding Funds, except those costs, expenses, damages, liabilities or claims arising out of BNY’s own gross negligence or willful misconduct. In no event shall BNY be liable to the Trusts or to any Fund or any third party for
special, indirect or 
   

 6 

 consequential damages, or lost profits or loss of business, arising under or in connection with this Agreement, even if
previously informed of the possibility of such damages and regardless of the form of action. BNY shall not be liable for any loss, damage or expense, including counsel fees and other costs and expenses of a defense against any claim or liability,
resulting from, arising out of, or in connection with its performance hereunder, including its actions or omissions, the incompleteness or inaccuracy of any Proper Instructions, or for delays caused by circumstances beyond BNY’s control, unless
such loss, damage or expense arises out of the gross negligence or willful misconduct of BNY. 
  (b) Subject to the limitations set forth
in Section 7 below, the Trust, the Master Trust and/or each Fund, as applicable, shall indemnify and hold harmless BNY from and against any and all costs, expenses, damages, liabilities and claims (including claims asserted by the Trusts or a
Fund), and reasonable attorneys’ and accountants’ fees relating thereto, which are sustained or incurred or which may be asserted against BNY, by reason of or as a result of any action taken or omitted to be taken by BNY in good faith
hereunder or in reliance upon (i) any law, act, regulation or interpretation of the same even though the same may thereafter have been altered, changed, amended or repealed, (ii) the Trust’s Registration Statement or Prospectus,
(iii) any Proper Instructions, or (iv) any opinion of legal counsel for each Fund, or arising out of transactions or other activities of such Fund which occurred prior to the commencement of this Agreement; provided, that neither
the Trust, Master Trust or any Fund shall indemnify BNY for costs, expenses, damages, liabilities or claims for which BNY is liable under preceding Section 6(a). This indemnity shall be a continuing obligation of each the Trusts and each Fund,
their respective successors and assigns, notwithstanding the termination of this Agreement. Without limiting the generality of the foregoing, the Trust, the Master Trust and/or each Fund, as applicable, shall indemnify BNY against and save BNY
harmless from any loss, damage or expense, including counsel fees and other costs and expenses of a defense against any claim or liability, arising from any one or more of the following: 
  (i) Errors in records or instructions, explanations, information, specifications or documentation of any kind, as the case may be, supplied to BNY by any
third party described above or by or on behalf of a Fund; 
  (ii) Action or inaction taken or omitted to be taken by BNY pursuant to
Proper Instructions of the Trusts on behalf of their corresponding Funds or otherwise without gross negligence or willful misconduct; 
 (iii) Any action taken or omitted to be taken by BNY in good faith in accordance with the advice or opinion of counsel for the Trusts or a Fund or its own counsel; 
 (iv) Any improper use by the Trusts or a Fund or its agents, distributor or investment advisor of any valuations or computations supplied by BNY
pursuant to this Agreement; 
   

 7 

 (v) The method of valuation and the method of computing net asset value; or 
  (vi) Any valuations or net asset value provided by the Trusts on behalf of their corresponding Funds. 
 (c) Actions taken or omitted in reliance on Proper Instructions, or upon any information, order, indenture, stock certificate, power of attorney,
assignment, affidavit or other instrument believed by BNY to be genuine or bearing the signature of a person or persons believed to be authorized to sign, countersign or execute the same, or upon the opinion of legal counsel for the Trusts on behalf
of their corresponding Funds or its own counsel, shall be conclusively presumed to have been taken or omitted in good faith. 
  7.
Limitation of Liability. 
  BNY agrees that, pursuant to Section 3804(a) of the Delaware Statutory Trust Act, the liabilities
of each Fund shall be limited such that (a) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing and relating to this Agreement with respect to a particular Fund shall be enforceable against the assets
of that particular Fund only, and not against the assets of the Trust or Master Trust generally or the assets of any other Fund and (b) none of the debts, liabilities, obligations and expenses incurred, contracted for, or otherwise existing and
relating to this Agreement with respect to the Trust or Master Trust generally and any other Fund shall be enforceable against the assets of such particular Fund. 
  8. Compensation. 
  For the services provided hereunder, the Trusts, on behalf of their
corresponding Funds, agree to pay BNY such compensation as is mutually agreed from time-to-time and such out-of-pocket expenses (e.g., telecommunication charges, postage and delivery charges, record retention costs, reproduction charges and
transportation and lodging costs) as are incurred by BNY in performing its duties hereunder. Except as hereinafter set forth, compensation shall be calculated and accrued daily and paid monthly. The Trusts, on behalf of their corresponding Funds,
authorize BNY to debit such Fund’s custody account for all amounts due and payable hereunder. BNY shall deliver to each Fund invoices for services rendered after debiting such Fund’s custody account with an indication that payment has been
made. Upon termination of this Agreement before the end of any month, the compensation for such part of a month shall be prorated according to the proportion which such period bears to the full monthly period and shall be payable upon the effective
date of termination of this Agreement. For the purpose of determining compensation payable to BNY, each Fund’s net asset value shall be computed at the times and in the manner specified in the Fund’s Prospectus. 
   

 8 

 9. Term of Agreement. 
  (a) This Agreement shall continue until terminated by either BNY giving to the Trust or the Master Trust, on behalf of their corresponding Funds, giving
to BNY, a notice in writing specifying the date of such termination, which date shall be not less than ninety (90) days after the date of the giving of such notice. Upon termination hereof, the affected Fund(s) shall pay to BNY such
compensation as may be due as of the date of such termination, and shall reimburse BNY for any disbursements and expenses made or incurred by BNY and payable or reimbursable hereunder. Termination of this Agreement by any Fund shall not constitute
termination by any other Fund unless separate notice is given. 
 (b) Notwithstanding the foregoing, BNY may terminate this Agreement upon
thirty (30) days prior written notice to the Trust or the Master Trust, on behalf of their corresponding Funds (as applicable), if such Fund shall terminate its custody agreement with The Bank of New York, or fail to perform its obligations
hereunder in a material respect. 
  10. Authorized Persons. 
  Attached hereto as Exhibit B is a list of persons duly authorized to execute this Agreement and give any written or oral instructions, or written
or oral specifications, by or on behalf of such Fund. From time-to-time the Trust or the Master Trust, on behalf of their corresponding Funds, may deliver a new Exhibit B to add or delete any person and BNY shall be entitled to rely on the
last Exhibit B actually received by BNY. Any instructions or specifications from any such persons are referred to as “Proper Instructions.” 
  11. Amendment. 
  This Agreement may not be amended or modified in any manner except by a written
agreement executed by BNY and the Trust and/or the Master Trust on behalf of their corresponding Fund(s) to be bound thereby. 
  12.
Assignment. 
 This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and
assigns; provided, however, that this Agreement shall not be assignable by any Fund without the written consent of BNY, or by BNY without the written consent of the affected Fund. 
 13. Governing Law; Consent to Jurisdiction. 
 Except with respect to Paragraph 7 above, which shall be construed, interpreted, and enforced in accordance with and governed by the laws of the State of Delaware, this Agreement shall be 
  

 9 

  construed in accordance with the laws of the State of New York, without regard to conflict of laws principles
thereof. Each of the Trust or the Master Trust, on behalf of itself and on behalf of each of their corresponding Funds, hereby consent to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute
arising hereunder, and waives to the fullest extent permitted by law its right to a trial by jury. Other than as contemplated by paragraph 7 above, the extent that in any jurisdiction the Trust or Master Trust, on their own behalf or behalf of their
corresponding Funds, may now or hereafter be entitled to claim, for themselves or their assets, immunity from suit, execution, attachment (before or after judgment) or other legal process, such Trust, Master Trust, on their own behalf and on behalf
of each of their corresponding Funds, irrevocably agree not to claim, and each hereby waives, such immunity. 
  14. Severability.

 In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations shall not in any way be affected or impaired thereby, and if any provision is inapplicable to any person or circumstances, it shall nevertheless remain applicable to all other
persons and circumstances. 
 15. No Waiver. 
 Each and every right granted to BNY hereunder or under any other document delivered hereunder or in connection herewith, or allowed it by law or equity, shall be cumulative and may be exercised from time-to-time. No
failure on the part of BNY to exercise, and no delay in exercising, any right will operate as a waiver thereof, nor will any single or partial exercise by BNY of any right preclude any other or future exercise thereof or the exercise of any other
right. 
 16. Notices. 
 All notices, requests, consents and other communications pursuant to this Agreement in writing shall be sent as follows: 
 if to a
Fund, at 
 c/o DB Commodity Services LLC 
 60 Wall Street 
 New York, New York 10005 
 Attention: Kevin Rich 
  

 10 

 if to BNY, at 
 The Bank of New York 
 2 Hanson Place, 12th Floor 
 Brooklyn, New York 11217 
 Attention: Stephen Manners 
 Title: Vice
President 
 or at such other place as may from time-to-time be designated in writing. Notices hereunder shall be effective upon receipt. 
 17. Counterparts. 
 This Agreement may
be executed in any number of counterparts, each of which shall be deemed to be an original; but such counterparts together shall constitute only one instrument. 
 18. Several Obligations. 
  The parties acknowledge that the obligations of each of the Trust,
Master and the Funds hereunder are several and not joint, that none of the foregoing shall be liable for any amount owing by another and that they have executed one instrument for convenience only. 
   

 11 

 IN WITNESS WHEREOF, the parties hereto have caused the foregoing instrument to be executed by their duly
authorized officers as of the day and year first above written. 
  

					
	 POWERSHARES DB MULTI-SECTOR
 COMMODITY TRUST

	      By:	 	 DB COMMODITY SERVICES LLC,
 as Managing Owner
of PowerShares DB Multi-Sector Commodity Trust

		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer
	
	 POWERSHARES DB MULTI-SECTOR
 COMMODITY TRUST WITH RESPECT TO POWERSHARES DB ENERGY FUND

	      By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of PowerShares DB
		 		 	Energy Fund
		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer
	
	POWERSHARES DB MULTI-SECTOR COMMODITY TRUST WITH RESPECT TO POWERSHARES DB OIL FUND
	      By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of PowerShares DB Oil Fund
		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer

  

 12 

					
	POWERSHARES DB MULTI-SECTOR COMMODITY TRUST WITH RESPECT TO POWERSHARES DB PRECIOUS METALS
	      By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of PowerShares DB Precious Metals Fund
		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer
	
	 POWERSHARES DB MULTI-SECTOR
 COMMODITY TRUST WITH RESPECT TO POWERSHARES DB GOLD FUND

	      By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of PowerShares DB Gold Fund
		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer
	
	 POWERSHARES DB MULTI-SECTOR
 COMMODITY TRUST WITH RESPECT TO POWERSHARES DB SILVER FUND

	      By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of PowerShares DB Silver Fund
		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer

  

 13 

					
	 POWERSHARES DB MULTI-SECTOR
 COMMODITY TRUST WITH RESPECT TO POWERSHARES DB BASE METALS FUND

	      By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of PowerShares DB Base Metals Fund
		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer
	
	 POWERSHARES DB MULTI-SECTOR
 COMMODITY TRUST WITH RESPECT TO POWERSHARES DB AGRICULTURE FUND

	      By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of PowerShares DB Agriculture Fund
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer
	
	DB MULTI-SECTOR COMMODITY MASTER TRUST
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Multi-Sector Commodity Master Trust
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

	
	DB MULTI-SECTOR COMMODITY MASTER TRUST WITH RESPECT TO DB ENERGY MASTER FUND
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Energy Master Fund
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

	
	DB MULTI-SECTOR COMMODITY MASTER TRUST WITH RESPECT TO DB OIL MASTER FUND
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Oil Master Fund
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

	
	DB MULTI-SECTOR COMMODITY MASTER TRUST WITH RESPECT TO DB PRECIOUS METALS MASTER FUND
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Precious Metals Master Fund
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

	
	DB MULTI-SECTOR COMMODITY MASTER TRUST WITH RESPECT TO DB GOLD MASTER FUND
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Gold Master Fund
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

	
	DB MULTI-SECTOR COMMODITY MASTER TRUST WITH RESPECT TO DB SILVER MASTER FUND
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Silver Master Fund
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

	
	DB MULTI-SECTOR COMMODITY MASTER TRUST WITH RESPECT TO DB BASE METALS MASTER FUND
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Base Metals Master Fund
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

	
	DB MULTI-SECTOR COMMODITY MASTER TRUST WITH RESPECT TO DB AGRICULTURE MASTER FUND
		 	By:	 	DB COMMODITY SERVICES LLC,
		 		 	as Managing Owner of DB Agriculture Master Fund
		
	 By:
	 	  

	 Name:
	 	 Kevin Rich

	 Title:
	 	 Director and Chief Executive Officer

		
	 By:
	 	  

	 Name:
	 	 Gregory Collett

	 Title:
	 	 Chief Operating Officer

  

 14 

					
	
	 DB COMMODITY SERVICES LLC, as
 managing owner of each of the Funds

		
	By:	 	  

	Name:	 	Kevin Rich
	Title:	 	Director and Chief Executive Officer
		
	By:	 	  

	Name:	 	Gregory Collett
	Title:	 	Chief Operating Officer
	
	THE BANK OF NEW YORK
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 15 

 EXHIBIT A 
 Name of Fund (Each a series of the Trust) 
 PowerShares DB Energy Fund 
 PowerShares DB Oil Fund 
 PowerShares DB Precious Metals Fund 
 PowerShares DB Gold Fund 
 PowerShares DB Silver Fund 
 PowerShares DB Base Metals Fund 
 PowerShares DB Agriculture Fund

 Name of Fund (Each a series of the Master Trust) 
 DB
Energy Master Fund 
 DB Oil Master Fund 
 DB Precious Metals
Master Fund 
 DB Gold Master Fund 
 DB Silver Master Fund

 DB Base Metals Master Fund 
 DB Agriculture Master Fund

  

 16 

 EXHIBIT B 
 I, Sonja Olsen, of DB Commodity Services LLC, a Delaware limited liability company and the sole managing owner of each of PowerShares DB Energy Fund; PowerShares DB Oil Fund; PowerShares DB Precious Metals Fund;
PowerShares DB Gold Fund; PowerShares DB Silver Fund; PowerShares DB Base Metals Fund; PowerShares DB Agriculture Fund; DB Energy Master Fund; DB Oil Master Fund; DB Precious Metals Master Fund; DB Gold Master Fund; DB Silver Master Fund; DB Base
Metals Master Fund; DB Agriculture Master Fund (collectively, the “Funds”), in my capacity as Secretary of DB Commodity Services LLC and not in my individual capacity, do hereby certify that: 
 The following individuals are authorized to give written or oral instructions or written or oral specifications by or on behalf of each of the Funds to
The Bank of New York and the signatures set forth opposite their respective names are their true and correct signatures. 
  

			
	 Name
	  	 Signature

	 Kevin Rich
	  	  

		
	 Gregory Collett
	  	  

		
	 Robert Lazarus
	  	  

 IN WITNESS WHEREOF, I have hereunto set my hand as of the date set forth below: 
  

			
	By:	 	  

		 	Sonja Olsen
		
		 	Dated:                  , 2006

  

 17 

 SCHEDULE I 
 ADMINISTRATIVE SERVICES 
  

	 	1.	Under the terms of an annex to this Agreement, test and document compliance by each Fund with policies and restrictions which will be specified and agreed to in the annex. The
review and testing procedures to be applied shall first be agreed by BNY and DB Commodity Services LLC and will be specified in such annex. 

  

	 	2.	Provide periodic reports and other information to the sponsor and the sponsor’s accountants to assist in the periodic updating of the Registration Statement, Prospectus, and
the preparation of Form 10-K and Form 10-Q and proxy materials, if any, with respect to the Trusts and each Fund. 

  

	 	3.	Assist each Fund in obtaining fidelity bond and E&O/D&O insurance coverage. 

  

	 	4.	Prepare separate and distinct statistical reports for each Fund for outside information services. 

  

	 	5.	Attend shareholder meetings as requested from time-to-time. 

  

	 	6.	Establish appropriate expense accruals and maintain expense files for each Fund (each of which shall be separate and distinct from each other) and coordinate the payment of
invoices. 

  

	 	7.	Maintain certain books and records in respect of the Funds as listed on Schedule A to that certain Acknowledgment dated as of August 29, 2006, by and among DB Commodity
Services LLC, a commodity pool operator of the Funds, BNY and ALPS Distributors, Inc., as amended from time-to-time. 

  

	 	8.	When applicable BNY accepts delegation of the obligations of DB Commodity Services LLC as contemplated under Section 17(e) of the Participant Agreement.

  

 18 

 SCHEDULE II 
 VALUATION AND COMPUTATION SERVICES 
 I. With respect to each Fund, BNY shall maintain separate and
distinct records on a daily basis with respect to the following: 
  

	 	1.	Report of priced portfolio assets 

  

	 	2.	Statement of net asset value per share 

 II. With respect
to each Fund, BNY shall maintain separate and distinct records on a monthly basis with respect to the following: 
  

	 	1.	General Ledger 

  

	 	2.	General Journal 

  

	 	3.	Cash Receipts Journal 

  

	 	4.	Cash Disbursements Journal 

  

	 	5.	Subscriptions Journal 

  

	 	6.	Redemptions Journal 

  

	 	7.	Accounts Receivable Reports 

  

	 	8.	Accounts Payable Reports 

  

	 	9.	Open Subscriptions/Redemption Reports 

  

	 	10.	Transaction Journal 

  

	 	11.	Broker Net Trades Reports 

  

 19 

 III. BNY shall prepare a Holdings Ledger on a quarterly basis, and a Buy-Sell Ledger (Broker’s
Ledger) on a semiannual basis for each Fund. Schedule D shall be produced on an annual basis for each Fund. 
 The above reports may
be printed according to any other required frequency to meet the requirements of the Internal Revenue Service, the Securities and Exchange Commission and the Fund’s Auditors. 
 IV. For internal control purposes, BNY uses the Account Journals produced by The Bank of New York Custody System to record daily settlements of the
following for each Fund: 
  

	 	1.	Assets bought 

  

	 	2.	Assets sold 

  

	 	3.	Interest received 

  

	 	4.	Capital stock sold 

  

	 	5.	Capital stock redeemed 

  

	 	6.	Other income and expenses 

 All portfolio purchases for
the Fund are recorded to reflect expected maturity value and total cost including any prepaid interest. 
  

 20

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]