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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will have all of the rights and remedies provided by Law in addition to the rights and remedies set forth in this Agreement and in any other agreement or writing between the Parties. All of a Party’s rights and remedies are cumulative and may be exercised from time to time, and the pursuit of one right or remedy will not constitute an exclusive election or otherwise preclude or limit its pursuit of any other or additional right or remedy. 12.9. Severability . If any provision of this Agreement will be held to be invalid or unenforceable for any reason, the remaining provisions will continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provisions will be deemed to be written, construed and enforced as so limited.

12.10.	Assignment . No Party may assign any of its rights under this Agreement or delegate its performance
under this Agreement without the prior written consent of the other Party except that either Party may assign its rights and delegate
its performance under this Agreement to: (i) any entity that acquires all or substantially all of its assets; (ii) any Affiliate that
controls, is controlled by, or is under common control with, the assigning Party; and (iii) any successor in a merger, acquisition, or
reorganization, including any judicial reorganization provided that any entity providing services pursuant to assignment under each of
(i), (ii) and (iii) above possesses the necessary licenses to perform such services in compliance with applicable Law and any entity providing
custody services pursuant to this Agreement shall be a qualified custodian as defined under the Advisers Act. Any purported assignment
in violation of this Section 12.10 will be null and void, ab initio, and of no force or effect.

12.11.	Use of Affiliates . Anchorage is, and will at all times be, responsible for the acts and omissions
of its Affiliates, including Anchor Labs, Inc. as if they were the acts and omissions of Anchorage. Without limiting the generality of
the foregoing, Anchorage hereby discloses that it is a subsidiary of Anchor Labs, Inc., which provides certain technology and administrative
services to Anchorage in support of Anchorage’s provision of Services hereunder, pursuant to an Intercompany Services Agreement
between Anchorage and Anchor Labs, Inc. and all provisions under this Agreement that are applicable to Anchorage will apply equally to
its Affiliates, including Anchor Labs, Inc. For the avoidance of doubt, this section does not apply to Anchorage’s use of a Vendor,
Fiat Institution, or other service provider. Notwithstanding the foregoing in no circumstances shall custodial services be provided by
any entity other than Anchorage.

12.12.	Insurance. Anchorage shall obtain, carry and maintain in effect during the Term, at its sole expense,
insurance coverage in such types and amounts that are compliant with the requirements of Exhibit E (Insurance Requirements) of Addendum
1 below which is hereby incorporated into this Agreement. Nothing in the Agreement, including any indemnification, shall be construed
to relieve any insurer of its obligation to pay claims consistent with the provisions of a valid insurance policy. Coverage by insurance
required under this Agreement will not operate as a limitation of liability nor will limitations of liability in this Agreement apply
to the extent of coverage.

12.13.	Governing Law . This Agreement will be governed by and construed exclusively in accordance with
the laws of the State of New York, without regard to its conflicts of laws provisions or rules. Subject to Section 11, the Parties hereby
agree to submit to the exclusive jurisdiction of any appropriate court located in New York, New York, as a forum for litigation. Each
of the Parties hereto hereby waives: (i) all right to trial by jury in any lawsuit, action, proceeding or counterclaim arising out of
this Agreement (ii) any objection to the laying of venue in such courts; and (iii) the defenses of forum non conveniens, lack of personal
jurisdiction and/or improper venue.

12.14.	Survival . Any expiration or termination of this Agreement will not affect any accrued claims, rights
or liabilities of Parties, and all provisions which must survive to fulfill their intended purposes, or by their nature are intended to
survive such expiration or termination will survive, including Sections 2 - 12, and the Schedules.

12.15.	Set-off. Client may set off against any obligation of Anchorage to Client any sum owing by Client
to Anchorage, whether or not such sum is immediately due and payable.

12.16.	Service Level Agreement . Without prejudice to any other provision of this Agreement, the Anchorage
Entities will use, at minimum, commercially reasonable efforts to perform its obligations under this Agreement (including, for the avoidance
of doubt, any schedule, addendum, confirmation or other document issued or delivered in connection with any transaction hereunder) in
accordance with the Service Level Agreement attached as Exhibit A to Addendum 1 below which is hereby incorporated into this Agreement,
or to such higher standard as specified in this Agreement or by applicable Laws.

12.17.	Personnel . Anchorage shall ensure that it has sufficient Personnel to perform its obligations under
this Agreement and that such Personnel: (i) are adequately trained and skilled at a level appropriate to perform such obligations; and
(ii) will act in accordance with and comply with Anchorage’s obligations under this Agreement, including but not limited to Section
8 (Confidentiality).

12.18.	Background Screening . Anchorage shall conduct a background screening on its Personnel prior to
assigning such Personnel to provide Services to Customer. Such background screening shall, at a minimum, include: (i) a criminal record
search going back not less than seven (7) years in the state and federal courts in every state (and every county of every state) in which
such Anchorage Personnel has resided; (ii) an Individualized Assessment with respect to matters as set forth in Exhibit B (Background
Screening Requirements) to Addendum 1 of this Agreement which is hereby incorporated into this Agreement, discovered in the course of
such background check; and (iii) any other assessment necessary for Anchorage to reasonably determine that such Anchorage Personnel does
not present any risk to the property, reputation, business or IT systems of Client and/or its customers and does not present any risk
of harm to other persons, including persons on Client premises, all in compliance with all applicable Laws (“ Background Screening ”).
Anchorage shall not allow any individual whose Background Screening presents, in Anchorage’s reasonable assessment, any risk to
the property, reputation, business or Holdings Data of Client to provide Services to Customer hereunder or to otherwise access Client
Data. Notwithstanding the undertaking of any Background Screening hereunder, Anchorage shall be responsible for the actions and performance
of its Personnel and for any breach of the terms of this Agreement.

12.19.	Digital Asset Deposits and Withdrawals. Anchorage will promptly, which in no event shall be longer
than 6 hours of receipt, process Supported Digital Asset deposit transactions into and withdrawal transactions from Client's Account according
to the Authenticated Instruction received from Client or Client’s Authorized Representatives, including, for the avoidance of doubt,
Agent, and, except as otherwise explicitly set forth herein, Anchorage is not required to verify the accuracy of the Authenticated Instruction
prior to processing. Client must verify the accuracy of all deposit and withdrawal information prior to submitting Directions to Anchorage
regarding a Digital Asset deposit or withdrawal transaction. Except for its obligations under, and subject to, this Agreement, Anchorage
shall have no liability, obligation, or responsibility for Client Digital Asset transfers conducted in reliance on Authenticated Instructions
received from Client or Client’s Authorized Representatives pursuant to this Agreement.

12.20.	No Waiver of Contractual Right . The failure of either Party to enforce any provision of this Agreement
will not be construed as a waiver or limitation of that Party’s right to subsequently enforce and compel strict compliance with
every provision of this Agreement. A waiver or consent given on one occasion is effective only in that instance and will not be construed
as a bar to or waiver of any other right on any other occasion.

12.21.	Non-exclusivity . Anchorage acknowledges that it is not the exclusive service provider to Client
of services the same as or similar to the Services and that Client is entitled to source the same or similar services from third parties.