SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-10.3
Date Filed: 2026-04-27
Accession Number: 0001999371-26-009120
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2089855/000199937126009120/ex10-3.htm

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Data of Client to make any trading decisions, or to place any trades. 8.8. Exception for Protection of Confidential Information . The Parties each agree that the protection of Confidential Information is necessary and reasonable in order to protect the Disclosing Party and its business. The Parties each expressly agree that monetary damages would be inadequate to compensate the Disclosing Party for any breach of its Confidential Information. Accordingly, notwithstanding the provisions of Section 11, each Party agrees and acknowledges that any such violation or threatened violation would cause irreparable injury to the Disclosing Party and that, in addition to any other remedies that may be available, in law, in equity, under this Agreement, or otherwise, the Disclosing Party shall be entitled to obtain injunctive relief against the threatened breach or continued breach by the Receiving Party, without the necessity of proving actual damages. 9. Indemnification. 9.1. Indemnification Obligation .

a)	Client shall defend and indemnify and hold harmless Anchorage, its Affiliates, and their respective officers,
directors, agents, employees and representatives from and against any and all Third Party Claims and Losses arising out of or relating
to Client’s material breach of this Agreement, Client’s violation of any applicable Law related to the performance of its
obligations under this Agreement, or Client’s gross negligence, fraud or willful misconduct, in each case unless caused primarily
by Anchorage's breach, negligence, willful misconduct, fraud, or failure to abide by the relevant standard of care as set forth in Section
10.6. This obligation will survive any termination of this Agreement as it relates to the Claims and Losses arising during the term of
the Agreement or as it relates to activity during such term.

b)	Anchorage shall defend and indemnify and hold harmless Client, its Affiliates, and their respective officers,
directors, agents, employees and representatives from and against any and all Claims and Losses to the extent arising out of or relating
to: (i) any breach of Anchorage's confidentiality, data protection and/or information security obligations, (ii) Anchorage’s violation
of any applicable Law in connection with the provision of the Services; (iii) the full amount of any Client Digital Assets lost, stolen
or otherwise misappropriated from Anchorage’s custody (provided that, in addition to third party Claims and Losses this clause (iii)
will also include Claims and Losses that are direct damages to Client); (iv) Anchorage’s gross negligence, fraud or willful misconduct;
or (v) that Client’s access or use of the Services, in accordance with the terms and conditions of this Agreement violates, misappropriates,
or infringes upon any third party Intellectual Property Right, in each case as it relates to the Claims and Losses arising during the
Term or as it relates to activity during the Term (including, for the avoidance of doubt, any Transition Period). This obligation will
survive any termination of this Agreement.

9.2.	Indemnification Procedure : The foregoing indemnification obligations
shall be subject to the following conditions: (i) the indemnified Party shall provide the indemnifying Party with prompt written notice
of the Claim (though failure to do so shall only reduce the indemnifying Party’s indemnification obligation to the extent the indemnifying
Party was prejudiced by such failure); (ii) the indemnifying Party shall control the Claim defense as determined in its reasonable discretion;
(iii) the indemnified Party shall reasonably cooperate with the indemnifying Party in the Claim defense (at the indemnifying Party’s
reasonable expense); and (iv) the indemnifying Party shall obtain the prior written consent of the indemnified Party prior to an entry
of judgment or any settlement (which entry of judgment or settlement must include an unconditional release of the indemnified Party from
all liability with respect to the Claim). The indemnifying Party shall provide reports on the Claim status to the indemnified Party upon
request. The indemnified Party may participate in the defense with counsel of its choosing at its expense. Notwithstanding anything to
the contrary in this Section 9, neither Party shall represent the other Party before any administrative or regulatory body without the
other Party’s prior written consent.

10.	Liability.

10.1.	CONSE Q UENTIAL DAMAGES . SUBJECT TO SECTION 10.2, NEITHER PARTY SHALL BE LIABLE FOR ANY INCIDENTAL,
INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR SIMILAR LOSSES (“ CONSEQUENTIAL DAMAGES ”), EVEN IF THE OTHER PARTY HAD
BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY THEREOF.

10.2.	ANCHORAGE LIABILITY CAP . OTHER THAN WITH RESPECT TO CLAIMS AND LOSSES: (I) ARISING FROM THE FRAUD,
GROSS NEGLIGENCE OR WILFUL MISCONDUCT OF ANCHORAGE, IN RESPECT OF WHICH (A) ANCHORAGE MAY BE LIABLE FOR CONSEQUENTIAL DAMAGES; AND (B)
THE LIABILITY CAPS CONTAINED IN THIS AGREEMENT SHALL NOT APPLY; OR (II) THAT ARE MUTUALLY CAPPED LIABILITIES (DEFINED BELOW) AND THEREFORE
SUBJECT TO THE LIABILITY CAP SET OUT IN SECTION 10.3, AND NOTWITHSTANDING ANY OTHER PROVISION HEREIN, IN CIRCUMSTANCES WHERE THE LIABILITY
HAS: (1) A DIRECT NEXUS TO CLIENT’S DIGITAL ASSETS, IN NO EVENT WILL ANCHORAGE'S LIABILITY HEREUNDER EXCEED THE VALUE OF THE AFFECTED
DIGITAL ASSETS GIVING RISE TO SUCH LIABILITY; OR (2) NO DIRECT NEXUS TO CLIENT’S DIGITAL ASSETS, IN NO EVENT WILL ANCHORAGE'S LIABILITY
HEREUNDER EXCEED THE AGGREGATE AMOUNT OF FEES PAID BY CLIENT TO ANCHORAGE IN THE 12-MONTH PERIOD PRIOR TO THE EVENT GIVING RISE TO SUCH
LIABILITY. FOR THE AVOIDANCE OF DOUBT, ANCHORAGE’S LIABILITY FOR REMEDIATION COSTS (AS DEFINED IN SECTION 1.5 OF EXHIBIT C) IN RESPECT
OF SECURITY INCIDENT SHALL BE SUBJECT TO THE PROVISIONS OF SECTION 8.3 OF EXHIBIT C.

10.3.	MUTUALLY CAPPED LIABILITIES . OTHER THAN WITH RESPECT TO LIABILITIES ARISING FROM A PARTY’S
GROSS NEGLIGENCE, WILLFUL MISCONDUCT OR FRAUD, AND SUBJECT TO SECTION 10.2 ABOVE, IN NO EVENT WILL ANY PARTY’S LIABILITY FOR A MUTUALLY
CAPPED LIABILITY EXCEED THE GREATER OF: (A) TEN MILLION US DOLLARS (US$10,000,000); AND (B) THE AGGREGATE AMOUNT OF FEES PAID BY CLIENT
TO ANCHORAGE IN THE 12-MONTH PERIOD PRIOR TO THE EVENT GIVING RISE TO SUCH LIABILITY. “ MUTUALLY CAPPED LIABILITIES ”
MEANS: (I) CLAIMS AND LOSSES ARISING FROM A PARTY’S BREACH OF ITS CONFIDENTIALITY OBLIGATIONS IN SECTION 8, (II) A PARTY’S
INDEMNITY OBLIGATIONS SET FORTH IN SECTION 9 HEREOF (EXCEPT WITH RESPECT TO 9.1b)(iii), WHICH SHALL NOT CONSTITUTE A MUTUALLY CAPPED LIABILITY),
AND (III) CLAIMS AND LOSSES ARISING FROM THE VIOLATION, MISAPPROPRIATION, OR INFRINGEMENT BY A PARTY OF ANY THIRD PARTY INTELLECTUAL PROPERTY
RIGHTS.

10.4.	VALUATION OF LIABILITY RELATED TO DIGITAL ASSETS . WITH RESPECT TO CLAIMS AND LOSSES RELATED TO
A DEPOSIT, WITHDRAWAL, TRANSFER OR FAILURE TO MAINTAIN CUSTODY OF DIGITAL ASSETS IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT, THE VALUE
OF SUCH DIGITAL ASSETS SHALL BE DETERMINED BY REFERENCE TO THE BENCHMARK VALUATION (DEFINED BELOW) ON THE DATE: (I) THE FAILURE TO MAINTAIN
CUSTODY OCCURS; OR (II) THE DELIVERY OF SUCH DIGITAL ASSETS IN CONNECTION WITH SUCH DEPOSIT, WITHDRAWAL OR TRANSFER IS DUE IN ACCORDANCE
WITH THE TERMS OF THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, FOR THE AVOIDANCE OF DOUBT, ADDENDUM 1 (“ VALUATION DATE ”).
“ BENCHMARK VALUATION ” MEANS THE VALUATION DETERMINED USING THE LUKKA DIGITAL ASSET MEDIAN REFERENCE RATE FOR THE APPLICABLE
SUPPORTED DIGITAL ASSET(S) (AS IDENTIFIED IN SCHEDULE C), PUBLISHED BY LUKKA INC OR ITS AFFILIATES AT 16:00 EASTERN STANDARD/DAYLIGHT
TIME (4PM EST/EDT) ON THE VALUATION DATE. IN RESPECT OF ANY SUPPORTED DIGITAL ASSETS FOR WHICH THE APPLICABLE LUKKA DIGITAL ASSET MEDIAN
REFERENCE RATE IS NOT AVAILABLE ON THE RELEVANT VALUATION DATE, THE PARTIES SHALL USE THE PREVAILING LUKKA PRIME RATE AT 16:00 EASTERN
STANDARD/DAYLIGHT TIME (4PM EST/EDT) ON THE VALUATION DATE FOR THE PURPOSES OF CONDUCTING THE BENCHMARK VALUATION OF SUCH SUPPORTED DIGITAL
ASSET(S).

10.5.	SPECIFIC PERFORMANCE. TO THE EXTENT ANCHORAGE IS LIABLE FOR ANY CLAIMS OR LOSSES CLIENT INCURS
IN CONNECTION WITH THE SERVICES OR WITH RESPECT TO DIGITAL ASSETS CREDITED TO, OR THAT SHOULD BE CREDITED TO, THE CLIENT'S ACCOUNT, CLIENT
AND ANCHORAGE AGREE THAT IRREPARABLE DAMAGE WOULD OCCUR IN THE EVENT ANY PROVISION OF THIS AGREEMENT WAS NOT PERFORMED IN ACCORDANCE WITH
THE TERMS HEREOF AND THAT CLIENT SHALL BE ENTITLED TO SPECIFIC PERFORMANCE OF THE TERMS HEREOF BY ANCHORAGE, IN ADDITION TO ANY OTHER
REMEDY AT LAW, IN EQUITY OR UNDER THIS AGREEMENT. “ SPECIFIC PERFORMANCE ” MEANS THE OBLIGATION FOR ANCHORAGE, IMMEDIATELY
UPON NOTICE, TO: (I) WITH RESPECT TO ANY ERROR OR FAILURE OF PERFORMANCE OR DELIVERY WITH RESPECT TO A DIRECTION TO DEPOSIT, WITHDRAW
OR TRANSFER DIGITAL ASSETS, TO DELIVER THE CORRECT QUANTITY OR VALUE OF DIGITAL ASSETS (AT CLIENT’S ELECTION) AS IF THERE HAD BEEN
NO SUCH ERROR OR FAILURE OF PERFORMANCE OR DELIVERY; AND (II) WITH RESPECT TO ANY FAILURE OF ITS OBLIGATION TO MAINTAIN DIGITAL ASSETS
IN THE ACCOUNT, TO DELIVER SUCH DIGITAL ASSETS IN THE QUANTITY OR VALUE (AT CLIENT’S ELECTION), RESPECTIVELY, AFFECTED BY SUCH FAILURE.

10.6.	STANDARD OF CARE . AT MINIMUM, ANCHORAGE SHALL PERFORM ITS OBLIGATIONS UNDER THIS AGREEMENT IN ACCORDANCE
WITH THE STANDARD OF A PRUDENT, PROFESSIONAL, COMPETENT, AND REGULATED PROVIDER OF CUSTODY SERVICES IN THE FINANCIAL INDUSTRY, UNLESS
A HIGHER STANDARD IS SPECIFIED BY THIS AGREEMENT OR APPLICABLE LAW OR REGULATION.