Document:

Form of Transfer Agency and Service Agreement

 Exhibit 10.4 
 FORM OF 
 TRANSFER AGENCY AND SERVICE AGREEMENT 
 AGREEMENT made as of the      day of
                    , 2006, by and between DB CURRENCY INDEX VALUE FUND, a Delaware statutory trust, having its principal office and place of
business at 60 Wall Street, New York, NY 10005 (the “Trust”) and THE BANK OF NEW YORK, a New York banking company having its principal office and place of business at One Wall Street, New York, New York 10286 (the “Bank”).

 WHEREAS, the Trust and designated agents will issue for purchase and redeem shares of the Trust only in aggregations of shares known as
“Creation Units” (currently 200,000 shares) (each a “Creation Unit”); 
 WHEREAS, The Depository Trust Company, a limited
purpose trust company organized under the laws of the State of New York (“DTC”), or its nominee (Cede & Co.), will be the initial record or registered owner (the “Shareholder”) of all shares; 
 WHEREAS, the Trust desires to appoint the Bank as its transfer agent, dividend disbursing agent, and agent in connection with certain other activities,
and the Bank desires to accept such appointment; 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties
hereto agree as follows: 
 1. Terms of Appointment; Duties of the Bank 
 1.1 Subject to the terms and conditions set forth in this Agreement, the Trust, hereby employs and appoints the Bank to act as, and the Bank agrees to act as its transfer agent for the authorized and issued shares of
beneficial interest, no par value per share of the Trust (“Shares”), and as the Trust’s dividend disbursing agent. 
 1.2 The
Bank agrees that it will perform the following services: 
 (a) In accordance with the terms and conditions of the form of Participant
Agreement, attached hereto as Exhibit A, the Bank shall: 
 (i) Perform and facilitate the performance of purchases and redemption of
Creation Units; 
 (ii) Prepare and transmit by means of DTC’s book-entry system payments for dividends and distributions declared by
the Trust; 
 (iii) Maintain the record of the name and address of the Shareholder and the number of Shares issued by the Trust and held by
the Shareholder; 
 (iv) Record the issuance of Shares of the Trust and maintain a record of the total number of Shares of the Trust, and,
which are authorized, based upon data provided to it by 

 
the Trust. The Bank shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares or to take cognizance of any laws
relating to the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust. 
 (v) Prepare and
transmit to the Trust and to any applicable securities exchange (as specified to the Bank by the Trust) information with respect to purchases and redemptions of Shares; 
 (vi) On days that the Trust may accept orders for purchases or redemptions, calculate and transmit to the Bank and the Trust the number of outstanding Shares; 
 (vii) On days that the Trust may accept orders for purchases or redemptions (pursuant to the Participant Agreement), transmit to the Bank, the Trust and
DTC the amount of Shares purchased on such day; 
 (viii) Confirm to DTC the number of Shares issued to the Shareholder, as DTC may
reasonably request; 
 (ix) Extend the voting rights to the Shareholder and/or beneficial owners of Shares in accordance with the policies
and procedures of DTC for book-entry only securities; 
 (x) Maintain those books and records of the Trust specified by the Trust in
Schedule A attached hereto; and 
 (xi) Prepare a monthly report of all purchases and redemptions during such month on a gross transaction
basis. The monthly report shall show the counterpart and amount of each purchase on a daily basis net number of Shares either redeemed or created for such Business Day. 
 (b) In addition to and neither in lieu nor in contravention of the services set forth in the above paragraph (a), the Bank shall: perform the customary
services of a transfer agent and dividend disbursing agent including but not limited to: maintaining the account of the Shareholder, obtaining a list of DTC participants holding interests in the Global Certificate at the request of the Trust,
mailing proxy materials, shareholder reports and prospectuses to the Shareholder or DTC participants or beneficial owners of Shares at the request of the Trust and those services set forth on Schedule A attached hereto. 
 (c) The following shall be delivered to DTC for delivery to beneficial owners in accordance with the procedures for book-entry only securities of DTC:

 (i) Annual and semi-annual reports of the Trust; 
 (ii) Proxies, proxy statements and other proxy soliciting materials; 
 (iii) Prospectus and amendments and
supplements to the Prospectus, including stickers; and 
 (iv) Other communications as may be required by law or reasonably requested by the
Trust. 
  

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 (d) If the Shares are represented by individual Certificates, the Bank shall perform the services agreed
to in writing by the Bank and the Trust. 
 (e) The Bank shall provide additional services (if any) on behalf of the Trust
(i.e., escheatment services) which may be agreed upon in writing between the Trust and the Bank. 
 2. Fees and
Expenses 
 2.1 The Bank shall receive from the Trust such compensation for the Transfer Agent’s services provided pursuant to this
Agreement as may be agreed to from time to time in a written fee schedule approved by the parties. The fees are accrued daily and billed monthly and shall be due and payable upon receipt of the invoice. Upon the termination of this Agreement before
the end of any month, the fee for the part of the month before such termination shall be prorated according to the proportion which such part bears to the full monthly period and shall be payable upon the date of termination of this Agreement.

 2.2 In addition to the fee paid under Section 2.1 above, the Trust agrees to reimburse the Bank for out-of-pocket expenses, including
but not limited to confirmation production, postage, forms, telephone, microfilm, microfiche, tabulating proxies, records storage, or advances incurred by the Bank for the items set out in the fee schedule attached hereto or relating to dividend
distributions and reports (whereas all expenses related to creations and redemptions of Fund securities shall be borne by the relevant authorized participant in such creations and redemptions). In addition, any other expenses incurred by the Bank at
the request or with the consent of the Trust, will be reimbursed by the Trust. 
 2.3 The Trust agrees to pay all fees and reimbursable
expenses within ten business days following the receipt of the respective billing notice accompanied by supporting documentation, as appropriate. Postage for mailing of dividends, proxies, Trust reports and other mailings to all shareholder accounts
shall be advanced to the Bank by the Trust at least seven (7) days prior to the mailing date of such materials. 
 3. Representations and Warranties of
the Bank 
 3.1 The Bank represents and warrants to the Trust that: 
 It is a banking company duly organized and existing and in good standing under the laws of the State of New York. 
 It is duly qualified to carry on its business in the State of New York. 
 It is empowered under applicable laws and by its Charter and By-Laws to act as transfer agent and dividend disbursing agent and to enter into and perform this Agreement. 
 All requisite corporate proceedings have been taken to authorize it to enter into and perform this Agreement. 
  

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 It has and will continue to have access to the necessary facilities, equipment and personnel to perform
its duties and obligations under this Agreement. 
 4. Representations and Warranties of the Trust 
 4.1 The Trust represents and warrants to the Bank that: 
 It is a statutory trust duly organized and existing and in good standing under the laws of Delaware. 
 It
is empowered under applicable laws and by its Amended and Restated Declaration of Trust and Trust Agreement to enter into and perform this Agreement. 
 All corporate proceedings required by said Amended and Restated Declaration of Trust and Trust Agreement have been taken to authorize it to enter into and perform this Agreement. 
 A registration statement under the Securities Act of 1933, as amended, on behalf of the Trust is currently effective and will remain effective, and
appropriate state securities law filings have been made and will continue to be made, with respect to all Shares of the Trust being offered for sale. 
 5.
[Section Reserved] 
 6. Indemnification 
 6.1
The Bank shall not be responsible for, and the Trust shall indemnify and hold the Bank harmless from and against, any and all losses, damages, costs, charges, counsel fees, payments, expenses and liability (“Losses”) arising out of or
attributable to: 
 (a) All actions of the Bank or its agents or subcontractors required to be taken pursuant to this Agreement, provided that
such actions are taken without gross negligence, or willful misconduct. 
 (b) The Trust’s negligence or willful misconduct. 

(c) The breach of any representation or warranty of the Trust hereunder. 
 (d) The conclusive reliance on or use by the Bank or its agents or subcontractors of information, records, documents or services which (i) are
received by the Bank or its agents or subcontractors, and (ii) have been prepared, maintained or performed by the Trust or any other person or firm on behalf of the Trust including but not limited to any previous transfer agent
or registrar. 
 (e) The conclusive reliance on, or the carrying out by the Bank or its agents or subcontractors of any instructions or
requests of the Trust on behalf of the Trust. 
 (f) The offer or sale of Shares in violation of any requirement under the federal
securities laws or regulations or the securities laws or regulations of any state that such Shares be 

  

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registered in such state or in violation of any stop order or other determination or ruling by any federal agency or any state with respect to the offer or
sale of such Shares in such state. 
 6.2 At any time the Bank may apply to any officer of the Trust for instructions, and may consult with
legal counsel of their choosing with respect to any matter arising in connection with the services to be performed by the Bank under this Agreement, and the Bank and its agents or subcontractors shall not be liable and shall be indemnified by the
Trust for any action taken or omitted by it in reliance upon such instructions or upon the advice or opinion of such counsel and shall promptly advise the Trust of such advice or opinion (except for actions or omissions by Bank taken with negligence
or willful misconduct). The Bank, its agents and subcontractors shall be protected and indemnified in acting upon any paper or document, reasonably believed to be genuine and to have been signed by the proper person or persons, or upon any
instruction, information, data, records or documents provided the Bank or its agents or subcontractors by machine readable input, telex, CRT data entry or other similar means authorized by the Trust, and shall not be held to have notice of any
change of authority of any person, until receipt of written notice thereof from the Trust. 
 6.3 The Trust shall not be responsible for, and
the Bank shall liable for direct money damages arising out of or attributable to: 
 (a) The Bank’s own gross negligence or willful
misconduct. 
 (b) The breach of any representation or warranty of the Bank hereunder. 
 7. Standard of Care 
 The Bank shall have no responsibility
and shall not be liable for any loss or damage unless such loss or damage is caused by its own negligence or willful misconduct or that of its employees, or its breach of any of its representations. In no event shall the Bank be liable for special,
indirect or consequential damages regardless of the form of action and even if the same were foreseeable. 
 8. Concerning the Bank 
 8.1 Bank may enter into subcontracts, agreements and understandings with any BNY affiliate, whenever and on such terms and conditions as it deems
necessary or appropriate to perform its services hereunder. No such subcontract, agreement or understanding shall discharge Bank from its obligations hereunder. 
 8.2 Bank shall be entitled to conclusively rely upon any written or oral instruction actually received by Bank and reasonably believed by Bank to be duly authorized and delivered. Trust agrees to forward to Bank
written instructions confirming oral instructions by the close of business of the same day that such oral instructions are given to Bank. Trust agrees that the fact that such confirming written instructions are not received or that contrary written
instructions are received by Bank shall in no way affect the validity or enforceability of transactions authorized by such oral instructions and effected by Bank. If Trust elects to transmit written instructions through an on-line communication
system offered by Bank, Trust’s use thereof shall be subject to the terms and conditions attached hereto as Appendix A. 
  

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 8.3 Bank shall establish and maintain a disaster recovery plan and back-up system at all times satisfying
the requirements of all applicable law, rules, and regulations and which is reasonable under the circumstances (the “Disaster Recovery Plan and Back-Up System”). Bank shall not be responsible or liable for any failure or delay in the
performance of its obligations under this Agreement arising out of or caused, directly or indirectly, by circumstances beyond its control which are not a result of its negligence, including without limitation, acts of God; earthquakes; fires;
floods; wars; civil or military disturbances; sabotage; epidemics; riots; interruptions, loss or malfunctions of utilities, transportation, computer (hardware or software) or communications service; accidents; labor disputes; acts of civil or
military authority; governmental actions; or inability to obtain labor, material, equipment or transportation, provided that the Bank has established and is maintaining the Disaster Recovery Plan and Back-Up System, or if not, that such delay or
failure would have occurred even if Bank had established and was maintaining the Disaster Recovery Plan and Back-Up System. Upon the occurrence of any such delay or failure Bank shall use commercially reasonable best efforts to resume performance as
soon as practicable under the circumstances. 
 8.4 Bank shall have no duties or responsibilities whatsoever except such duties and
responsibilities as are specifically set forth in this Agreement, and no covenant or obligation shall be implied against Bank in connection with this Agreement. 
 8.5 At any time the Bank may apply to an officer of the Trust written instructions with respect to any matter arising in connection with the Bank’s duties and obligations under this Agreement, and the Bank shall
not be liable for any action taken or omitted to be taken by the Bank in good faith in accordance with such instructions. Such application by the Bank for instructions from an officer of the Trust may, at the option of the Bank, set forth in writing
any action proposed to be taken or omitted to be taken by the Bank with respect to its duties or obligations under this Agreement and the date on and/or after which such action shall be taken, and the Bank 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, the Bank has received written instructions in response to such
application specifying the action to be taken or omitted. The Bank may consult counsel to the Trust or its own counsel, at the expense of the Trust, 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. 
 8.6 Notwithstanding any provisions of this Agreement to the contrary, the Bank
shall be under no duty or obligation to inquire into, and shall not be liable for: 
 (a) The legality of the issue, sale or transfer of any
Shares, the sufficiency of the amount to be received in connection therewith, or the authority of the Trust to request such issuance, sale or transfer; 
 (b) The legality of the purchase of any Shares, the sufficiency of the amount to be paid in connection therewith, or the authority of the Trust to request such purchase; 
 (c) The legality of the declaration of any dividend by the Trust, or the legality of the issue of any Shares in payment of any stock dividend; or

  

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 (d) The legality of any recapitalization or readjustment of the Shares. 
 9. Covenants of the Trust and the Bank 
 9.1 The Trust shall promptly furnish to the Bank the following: 
 (a) A copy of the Amended and Restated
Declaration of Trust and Trust Agreement of the Trust and all amendments thereto. 
 (b) Shares will be transferred upon presentation to the
Bank of Shares to its electronic account at DTC, accompanied by such documents as the Bank deems necessary to evidence the authority of the person making such transfer, and bearing satisfactory evidence of the payment of applicable stock transfer
taxes, if any. In the case of small estates where no administration is contemplated, the Bank may, when furnished with an appropriate surety bond, and without further approval of the Trust, transfer Shares registered in the name of the decedent
where the current market value of the Shares being transferred does not exceed such amount as may from time to time be prescribed by the various states. The Bank reserves the right to refuse to transfer Shares until it is satisfied that the
endorsements on documents submitted to it are valid and genuine, and for that purpose it may require, unless otherwise instructed by an Officer of the Trust, a guaranty of signature by an “eligible guarantor institution” meeting the
requirements of the Bank, which requirements include membership or participation in STAMP or such other “signature guarantee program” as may be determined by the Bank in addition to, or in substitution for, STAMP, all in accordance with
the Securities Exchange Act of 1934, as amended. The Bank also reserves the right to refuse to transfer Shares until it is satisfied that the requested transfer is legally authorized, and it shall incur no liability for the refusal in good faith to
make transfers which the Bank, in its judgment, deems improper or unauthorized, or until it is satisfied that there is no basis to any claims adverse to such transfer. The Bank may, in effecting transfers of Shares, rely upon those provisions of the
Uniform Act for the Simplification of Fiduciary Security Transfers or the Uniform Commercial Code, as the same may be amended from time to time, applicable to the transfer of securities, and the Trust shall indemnify the Bank for any act done or
omitted by it in good faith in reliance upon such laws. 
 (c) The Bank assumes no responsibility with respect to the transfer of restricted
securities where counsel for the Trust advises that such transfer may be properly effected. 
 9.2 [Section Reserved] 
 9.3 Prior to the issuance of any additional Shares pursuant to stock dividends, stock splits or otherwise, and prior to any reduction in the number of
Shares outstanding, the Trust shall deliver the following documents to the Bank: 
 (a) A certified copy of the resolutions adopted by the
managing owner of the Trust authorizing such issuance of additional Shares of the Trust or such reduction, as the case may be; 
 (b) A
certified copy of the order or consent of each governmental or regulatory authority required by law as a prerequisite to the issuance or reduction of such Shares, as the case may be, and an opinion of counsel for the Trust that no other order or
consent is required; and 
  

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 (c) An opinion of counsel for the Trust, in a form satisfactory to the Bank, with respect to (i) the
validity of the Shares, the obtaining of all necessary governmental consents, whether such Shares are fully paid and non-assessable and the status of such Shares under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as
amended, and any other applicable federal law or regulations (i.e., if subject to registration, that they have been registered and that the Registration Statement has become effective or, if exempt, the specific grounds therefore),
(ii) the status of the Trust with regard to the Investment Company Act of 1940, as amended, and (iii) the due and proper listing of the Shares on all applicable securities exchanges; and 
 9.4 The Bank agrees that all records prepared or maintained by the Bank relating to the services to be performed by the Bank hereunder are the property
of the Trust and will be preserved, maintained and made available upon reasonable request, and will be surrendered promptly to the Trust on and in accordance with its request. 
 9.5 The Bank and the Trust agree that all books, records, information and data pertaining to the business of the other party which are exchanged or
received pursuant to the negotiation or the carrying out of this Agreement shall remain confidential, and shall not be voluntarily disclosed to any other person, except as may be, or may become required by law, by administrative or judicial order or
by rule. 
 9.6 In case of any requests or demands for the inspection of the Shareholder records of the Trust, the Bank will endeavor to
notify the Trust and to secure instructions from an authorized officer of the Trust as to such inspection. The Bank reserves the right, however, to exhibit the Shareholder records to any person whenever it is advised by its counsel that it may be
held liable for the failure to exhibit the Shareholder records to such person. 
 9.7 The Fund shall, or shall cause a third party to,
prepare and file such appropriate information returns concerning the payment and composition of dividends and capital gain distributions and tax withholding with the proper Federal, State and local authorities as are required by law to be filed by
the Trust and shall withhold such sums as are required to be withheld by applicable law. 
 10. Termination of Agreement 
 10.1 The term of this Agreement shall be one year commencing upon the date hereof (the “Initial Term”) and shall automatically renew for
additional one year terms unless either party provides written notice of termination at least ninety (90) days prior to the end of any one year term or, unless earlier terminated as provided below: 
 (a) Either party hereto may terminate this Agreement prior to the expiration of the Initial Term in the event the other party breaches any material
provision of this Agreement, including, without limitation in the case of the Trust, its obligations under Section 2.1, provided that the non-breaching party gives written notice of such breach to the breaching party and the breaching party
does not cure such violation within 90 days of receipt of such notice. 
 (b) The Fund may terminate this Agreement prior to the expiration
of the Initial Term upon ninety (90) days’ prior written notice in the event that the managing owner determines to liquidate the Trust and terminate its registration with the Securities and exchange Commission other than in connection with
a merger or acquisition of the Trust. 
  

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 10.2 Should the Trust exercise its right to terminate, all out-of-pocket expenses associated with the
movement of records and material will be borne by the Trust. Additionally, the Bank reserves the right to charge for any other reasonable expenses associated with such termination. 
 10.3 The terms of Article 2 and Article 6 shall survive the termination of this Agreement. 
 11. [Section Reserved] 
 12. Assignment 
 12.1 Neither this Agreement nor any rights or obligations hereunder may be assigned by either party without the written consent of the other party.

 12.2 This Agreement shall inure to the benefit of and be binding upon the parties and their respective permitted successors and assigns.

 13. Severability and Beneficiaries 
 13.1 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 shall not in any way be affected thereby. 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 either party without the written consent of the other. 
 14. Amendment 
 14.1 This Agreement may be amended or
modified by a written agreement executed by both parties. 
 15. New York Law to Apply 
 15.1 This Agreement shall be construed in accordance with the substantive laws of the State of New York, without regard to conflicts of laws principles
thereof. Trust and Bank 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. Trust hereby irrevocably waives, to the fullest extent permitted by
applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that such proceeding brought in such a court has been brought in an inconvenient forum. Trust and
Bank each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Agreement. 
  

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 16. Merger of Agreement 
 16.1 This Agreement constitutes the entire agreement between the parties hereto and supersedes any prior agreement with respect to the subject matter hereof whether oral or written. 
 17. Limitations of Liability of the Trustee and Shareholders 
 17.1 It is expressly acknowledged and agreed that the obligations of the Trust hereunder shall not be binding upon any shareholder, Trustee, officer, employee or agent of the Trust, personally, but shall bind only the trust property of the
Trust, as provided in its Amended and Restated Declaration of Trust and Trust Agreement. This Agreement has been duly authorized, executed and delivered by the Trust and neither such authorization nor such execution and delivery shall be deemed to
have been made by any of them individually or to impose any liability on any of them personally, but shall bind only the trust property of the Trust as provided in its Amended and Restated Declaration of Trust and Trust Agreement. 
 18. Counterparts 
 18.1 This Agreement may be executed by the
parties hereto on any number of counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in their names and on their behalf by and through their duly authorized officers, as of the day and year first above written.

  

					
	DB CURRENCY INDEX VALUE FUND
			
	 By:
	 	 DB Commodity Services LLC,
 its managing owner
	 	
			
	By:	 	  
	 	
		 	 Name:
	 	
		 	 Director
	 	
		
	 THE BANK OF NEW YORK
 (the “Bank”)
	 	
			
	 By:
	 	  
	 	
		 	 Name:
	 	
		 	 Title:
	 	

  

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 SCHEDULE A 
 BOOKS AND RECORDS TO BE MAINTAINED BY BANK 
 Source Documents requesting Creations and Redemptions 

Correspondence/AP Inquiries 
 Reconciliations, bank statements, copies of
canceled checks, cash proofs 
 Daily/Monthly reconciliation of outstanding units between the Trust and DTC 
 Net Asset Computation Documentation 
 Dividend Records 
 Year-end Statements and Tax Forms 
  

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 Exhibit A 
 Form of Participant Agreement 
  

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 Fee Schedule 
  

 -13-Form of Distribution Services Agreement

 FORM OF 
 DISTRIBUTION SERVICES AGREEMENT 
 DISTRIBUTION SERVICES AGREEMENT dated as of
                    , 2006 (this “Agreement”) among DB Currency Index Value Fund, a Delaware statutory trust (the “Fund”),
ALPS Distributors, Inc., a Colorado corporation and a registered broker-dealer under the Securities Exchange Act of 1934 (the “Distributor”), and DB Commodity Services LLC, a Delaware limited liability company (the “Managing
Owner”). Capitalized terms used but not defined in this Agreement shall have the meaning ascribed thereto in the Fund’s Prospectus included its Registration Statement on Form S-1 (Registration
No. 333-            ), as may be amended from time-to-time. 
 WHEREAS, the Managing Owner serves as the sole managing owner of the Fund; and 
 WHEREAS, the Fund wishes to employ Distributor in
connection with the performance of the services listed in Schedule A and additional services as may be agreed. 
 NOW, THEREFORE, in
consideration of the mutual promises and undertakings herein contained, the parties agree as follows: 
 1. Documents — The Fund has furnished or will
furnish, upon request, the Distributor with copies of the Fund’s Amended and Restated Declaration of Trust, advisory agreement, custodian agreement, transfer agency agreement, administration agreement, current prospectus, and statement of
additional information, and all forms relating to any plan, program or service offered by the Fund. The Fund shall furnish, within a reasonable time period, to the Distributor a copy of any amendment or supplement to any of the above-mentioned
documents. Upon request, the Fund shall furnish promptly to the Distributor any additional documents necessary or advisable to perform its functions hereunder. As used in this Agreement the terms “registration statement,”
“prospectus” and “statement of additional information” shall mean any registration statement, prospectus and statement of additional information filed by the Fund with the Securities and Exchange Commission (“SEC”) and
any amendments and supplements thereto that are filed with the SEC. 
 2. Authorized Representations — The Distributor is not authorized by the Fund to
give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on
behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature
complies with applicable law and regulations. 
 3. Registration of Shares — The Fund agrees that it will take all action necessary to register the
Shares under the 1933 Act (subject to the necessary approval of its shareholders). The Fund shall make available to the Distributor, at the Distributor’s expense, such number of copies of its prospectus and statement of additional information
as the Distributor may reasonably request. The Fund shall furnish to the Distributor copies of all information, financial statements and other papers, which the Distributor may reasonably request for use in connection with the distribution of Shares
of the Fund. 
 4. Fees and Fund Expenses — (a) In consideration of the services to be performed by the Distributor hereunder as set forth on
Schedule A attached hereto and as it may be amended from time-to-time, the Managing Owner will pay the Distributor a fee in an amount to be agreed upon in writing by the parties hereto from time-to-time, subject to any limitation imposed by
any law, rule or regulation applicable to any of the parties hereto. It is understood and agreed among the parties hereto that certain of the services to be performed by the Distributor hereunder will be performed using registered representatives of
the Distributor who are affiliates or employees of PowerShares Capital Management LLC. 

 (b) The Managing Owner shall reimburse the Distributor for any reasonable fees or disbursements incurred
by the Distributor in connection with the performance by the Distributor of its duties under and pursuant to this Agreement with the prior written consent of the Managing Owner. Further, unless otherwise agreed to by the parties hereto in writing,
the Distributor shall not be responsible for fees and expenses in connection with (a) filing of any registration statement, printing and the distribution of any prospectus and statement of additional information under the 1933 Act and
amendments prepared for use in connection with the offering of Shares for sale to the public, preparing, setting in type, printing and mailing the prospectus, statement of additional information and any supplements thereto sent to existing
shareholders, (b) preparing, setting in type, printing and mailing any report (including annual and semi-annual reports) or other communication to shareholders of the Fund, and (c) the Blue Sky registration and qualification of Shares for
sale in the various states in which the officers of the Fund shall determine it advisable to qualify such Shares for sale (including registering the Fund as a broker or dealer or any officer of the Fund as agent or salesman in any state).

 5. Use of the Distributor’s Name — The Fund shall not use the name of the Distributor, or any of its affiliates, in any prospectus or statement
of additional information, sales literature, and other material relating to the Fund in any manner without the prior written consent of the Distributor (which shall not be unreasonably withheld); provided, however, that the Distributor hereby
approves all lawful uses of the names of the Distributor and its affiliates in the prospectus and statement of additional information of the Fund and in all other materials which merely refer to accurate terms to their appointment hereunder or which
are required by the SEC, NASD, OCC or any state securities authority. 
 6. Use of the Fund’s Name — Neither the Distributor nor any of its
affiliates shall use the name of the Fund in any publicly disseminated materials, including sales literature in any manner without the prior consent of the Fund (which shall not be unreasonably withheld); provided, however, that the Fund hereby
approves all lawful uses of its name in any required regulatory filings of the Distributor which merely refer in accurate terms to the appointment of the Distributor hereunder, or which are required by the SEC, NASD, OCC or any state securities
authority. 
 7. Indemnification — The Fund agrees to indemnify and hold harmless the Distributor and each of its directors and officers and each
person, if any, who controls the Distributor within the meaning of Section 15 of the 1933 Act, against any loss, liability, claim, damages or expenses (including the reasonable cost of investigating or defending any alleged loss, liability,
claim, damages or expense and reasonable counsel fees incurred in connection therewith) arising by reason of any person acquiring any Shares, based upon the ground that the registration statement, prospectus, statement of additional information,
shareholder reports or other information filed or made public by the Fund (as from time to time amended) included an untrue statement of a material fact or omitted to state a material fact required to be stated or necessary in order to make the
statements not misleading under the 1933 Act or any other statute or the common law. However, the Fund does not agree to indemnify the Distributor or hold it harmless to the extent that the statement or omission was made in reliance upon, and in
conformity with, information furnished to the Fund by or on behalf of the Distributor. In no case (i) is the indemnity of the Fund in favor of the Distributor or any person indemnified to be deemed to protect the Distributor or any person
against any liability to the Fund or its security holders to which the Distributor or such person would otherwise be subject by reason of willful misfeasance, bad faith or negligence in the performance of its duties or by reason of its reckless
disregard of its obligations and duties under this Agreement, or (ii) is the Fund to be liable under its indemnity agreement contained in this paragraph with respect to any claim made against the Distributor or any person indemnified unless the
Distributor or person, as the case may be, shall have notified the Fund in writing of the claim promptly after the summons or other first written notification giving information of the nature of the claims shall have been served upon the Distributor
or any such person (or after the Distributor or such person shall have received notice of service on any designated agent). However, failure to notify the Fund of any claim shall not relieve the 

 
Fund from any liability which it may have to any person against whom such action is brought otherwise than on account of its indemnity agreement contained in
this paragraph. The Fund shall be entitled to participate at its own expense in the defense, or, if it so elects, to assume the defense of any suit brought to enforce any claims, and if the Fund elects to assume the defense, the defense shall be
conducted by counsel chosen by the Fund. In the event the Fund elects to assume the defense of any suit and retain counsel, the Distributor, officers or directors or controlling person(s), defendant(s) in the suit, shall bear the fees and expenses
of any additional counsel retained by them. If the Fund does not elect to assume the defense of any suit, it will reimburse the Distributor, officers or directors or controlling person(s) or defendant(s) in the suit for the reasonable fees and
expenses of any counsel retained by them. The Fund agrees to notify the Distributor promptly of the commencement of any litigation or proceeding against it or any of its officers in connection with the issuance or sale of any of the Shares.

 The Distributor also covenants and agrees that it will indemnify and hold harmless the Fund, the Managing Owner, and each of their respective officers,
representatives or agents and person, if any, who controls the Fund or the Managing Owner within the meaning of Section 15 of the 1933 Act (each, an “Indemnified Party”), against any loss, liability, damages, claims or expense
(including the reasonable cost of investigating or defending any alleged loss, liability, damages, claim or expense and reasonable counsel fees incurred in connection therewith) arising by reason of any person acquiring any Shares, based upon the
1933 Act or any other statute or common law, alleging (a) any wrongful act of the Distributor or any of its employees or (b) that any sales literature, advertisements, information, statements or representations used or made by the
Distributor or any of its affiliates or employees or that the registration statement, prospectus, statement of additional information, (as from time to time amended) included an untrue statement of a material fact or omitted to state a material fact
required to be stated or necessary in order to make the statements not misleading, insofar as the statement or omission was made in reliance upon, and in conformity with, information furnished to the Fund or Managing Owner by or on behalf of the
Distributor. In no case (i) is the indemnity of the Distributor in favor of and Indemnified Party to be deemed to protect any such party against any liability to which the Indemnified Party would otherwise be subject by reason of willful
misfeasance, bad faith or negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties under this Agreement, or (ii) is the Distributor to be liable under its indemnity agreement contained in
this paragraph with respect to any claim made against any Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing of the claim promptly after the summons or other first written notification giving information
of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of service on any designated agent). However, failure to notify the Distributor of any claim shall not relieve
the Distributor from any liability which it may have to the Indemnified Party against whom the action is brought otherwise than on account of its indemnity agreement contained in this paragraph. In the case of any notice to the Distributor it shall
be entitled to participate, at its own expense, in the defense or, if it so elects, to assume the defense of any suit brought to enforce the claim, and if the Distributor elects to assume the defense, the defense shall be conducted by counsel chosen
by it and satisfactory to the Indemnified Party, to its officers and to any controlling person(s) or defendant(s) in the suit. In the event that the Distributor elects to assume the defense of any suit and retain counsel, the Indemnified Party or
controlling person(s), defendant(s) in the suit, shall bear the fees and expense of any additional counsel retained by them. If the Distributor does not elect to assume the defense of any suit, it will reimburse the Indemnified Party, officers or
controlling person(s), defendant(s) in the suit, for the reasonable fees and expenses of any counsel retained by them. The Distributor agrees to notify the Indemnified Party promptly of the commencement of any litigation or proceedings against it in
connection with the Indemnified Party and sale of any of the Shares. 
 8. Supplemental Information — The Distributor and the Fund shall regularly
consult with each other regarding the Distributor’s performance of its obligations under this Agreement. In connection therewith, the Fund shall submit to the Distributor at a reasonable time in advance of filing with the SEC reasonably final
copies of any amended or supplemented registration statement (including exhibits) under the 1933 

 
Act; provided, however, that nothing contained in this Agreement shall in any way limit the Fund’s right to file at any time such amendments to any
registration statement and/or supplements to any prospectus or statement of additional information, of whatever character, as the Fund may deem advisable, such right being in all respects absolute and unconditional. 
 The Distributor acknowledges that the only information provided to it by the Fund is that contained in the registration statement, the prospectus, the statement of
additional information and reports and financial information referred to herein. Neither the Distributor nor any other person is authorized by the Fund to give any information or to make any representations, other than those contained in such
documents and any sales literature or advertisements specifically approved by appropriate representatives of the Fund. 
 9. Term — This Agreement shall
become effective as of March     , 2006, and shall continue until two years from such date and thereafter shall continue automatically for successive annual periods, provided that such continuance is specifically approved
at least annually by the Managing Owner. This Agreement is terminable without penalty on sixty (60) days’ written notice by the Managing Owner or by the Distributor. This Agreement shall automatically terminate in the event of its
assignment. 
 Upon the termination of this Agreement, the Distributor, at the Fund’s expense and direction, shall transfer to such successor as the
Fund shall specify all relevant books, records and other data established or maintained by the Distributor under this Agreement. 
 10. Notice — Any
notice required or permitted to be given by either party to the other shall be deemed sufficient if sent by (i) telecopier (fax) or (ii) registered or certified mail, postage prepaid, addressed by the party giving notice to the other party
at the last address furnished by the other party to the party giving notice: 
 if to the Fund at: 
 DB Commodity Services LLC 
 60 Wall Street

 New York, New York 10005 
 Attn: Kevin Rich 
 if to the Distributor at: 
 1625 Broadway, Suite 2200, 
 Denver, Colorado, 80202 
 Attn: General Counsel 
 or such other telecopier (fax) number
or address as may be furnished by one party to the other. 
 11. Confidential Information — The Distributor, its officers, directors, employees and
agents will treat confidentially and as proprietary information of the Fund all records and other information relative to the Fund and to prior or present shareholders or to those persons or entities who respond to the Distributor’s inquiries
concerning investment in the Fund, and will not use such records and information for any purposes other than performance of its responsibilities and duties hereunder. If the Distributor is requested or required by, but not limited to, depositions,
interrogatories, requests for information or documents, subpoena, civil investigation, demand or other action, proceeding or process or as otherwise required by law, statute, regulation, writ, decree or the like to disclose such information, the
Distributor will provide the Fund with prompt written notice of any such request or requirement so that the Fund may seek an appropriate protective order or other appropriate remedy and/or waive compliance with this provision. If such order or other
remedy is not sought, or obtained, or waiver not received within a 

 
reasonable period following such notice, then the Distributor may without liability hereunder, disclose to the person, entity or agency requesting or
requiring the information, that portion of the information that is legally required in the reasonable opinion of the Distributor’s counsel. 
 12.
Limitation of Liability — The Distributor agrees that the obligations assumed by the Fund under this contract shall be limited in all cases to the Fund and its assets except as expressly set forth herein. The Distributor agrees that it shall
not seek satisfaction of any such obligation from the shareholders, any individual shareholder, officer, representative or agent of the Fund, nor shall the Distributor seek satisfaction of any such obligation from the Managing Owner, its members,
managers, directors or officers. 
 Any obligations of the Fund entered into in the name or on behalf thereof by the Managing Owner, members managers,
officers, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the Managing Owner, members, managers, or officers, representatives or agents personally, but bind only the Fund property, and all
persons dealing with the Fund must look solely to the Fund property for the enforcement of any claims against the Fund. 
 13. Miscellaneous — Each
party agrees to perform such further acts and execute such further documents as are necessary to effectuate the purposes hereof. This Agreement shall be construed, interpreted, and enforced in accordance with and governed by the laws of the State of
Colorado. The captions in this Agreement are included for convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect. This Agreement may not be changed, waived,
discharged or amended except by written instrument that shall make specific reference to this Agreement and which shall be signed by the party against which enforcement of such change, waiver, discharge or amendment is sought. This Agreement may be
executed simultaneously in two or more counterparts, each of which taken together shall constitute one and the same instrument. 
 All activities by the
Distributor and its agents and employees as distributor of the Shares shall comply with all applicable laws, rules and regulations including, without limitation, all rules and regulations made or adopted by the SEC or any securities association
registered under the Exchange Act. 
 The Distributor will promptly transmit any orders received by it for purchase, redemption or exchange of the Shares to
the Fund’s transfer agent. 
 Remainder of page intentionally left blank. Signature page follows. 

 IN WITNESS WHEREOF, the Fund has executed this instrument in its name and behalf, and the
Distributor has executed this instrument in its name and behalf, as of the date and year first above written. 
  

					
	DB CURRENCY INDEX VALUE FUND
		
	By	 	 DB COMMODITY SERVICES LLC,
 as Managing Owner
of

		 	DB Currency Index Value Fund
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
	
	ALPS DISTRIBUTORS, INC.
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
	
	DB COMMODITY SERVICES LLC
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	
			
	By:	 	  
	 	
	Name:	 		 	
	Title:	 		 	

 Schedule A 
 List of Services 
 Dated as of
                    , 2006

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