SEC Filing Document

Company: T. Rowe Price Active Crypto ETF
Ticker: 
CIK: 2089855
Filing Type: S-1/A
Document Type: EX-10.4
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/ex10-4.htm

Chunk 8 of 12
Word Count: 1462
Character Count: 8987

Document Content:

assets to the extent necessary to obtain payment or reimbursement. The Custodian may at any time decline to follow Proper Instructions to deliver out cash, securities or other financial assets if the Custodian determines in its reasonable discretion that, after giving effect to the Proper Instructions, the cash, securities or other financial assets remaining will not have sufficient value fully to secure the Trust's payment or reimbursement obligations, whether contingent or otherwise. SECTION 16. EFFECTIVE PERIOD AND TERMINATION . SECTION 16.1 TERM. This Agreement shall remain in full force and effect for an initial term ending February 28, 2029. After the expiration of the Initial Term, this Agreement shall automatically renew for successive one-year terms unless a written notice of non-renewal is delivered by the non-renewing party no later than ninety (90) days prior to the expiration of the initial term or any renewal term, as the case may be.

SECTION 16.2   TERMINATION. Either party may terminate this Agreement: (a) in the event of the other party’s material breach of a provision
of this Agreement that the other party has either failed to cure, or failed to establish a remedial plan to cure that is reasonably acceptable
to the non-breaching party, within 60 days’ written notice being given by the non-breaching party of the breach, (b) immediately
if the material breach cannot be cured; or (c) in the event of the appointment of a conservator or receiver for the other party, the
commencement by or against the other party of a bankruptcy or insolvency case or proceeding, or upon the happening of a like event to
the other party at the direction of an appropriate agency or court of competent jurisdiction or at the direction of such party’s
regulators. A Trust may also terminate this Agreement as to the Trust in the event of a Change of Control of the Custodian. For purposes
hereof, “Change of Control” means the occurrence of a transaction or a series of transactions by which a person: (i) acquires
the direct or indirect ownership of a majority of the Custodian’s outstanding capital stock (or other form of equity interests)
including by merger or otherwise; (ii) obtains the voting power to elect a majority of the directors of the Custodian’s board of
directors (or other similar governing body); or (iii) acquires or exclusively licenses directly or indirectly all or substantially all
of a Custodian’s assets that are the subject matter of this Agreement, for example, the sale of any of Custodian’s ETF custody,
ETF accounting, or other ETF services businesses.

SECTION 16.3     PAYMENTS
OWING TO THE CUSTODIAN. Upon termination of this Agreement pursuant to Section 16.1 or 16.2, the applicable Trust shall pay
to the Custodian any compensation then due and shall reimburse the Custodian for its other fees, expenses and charges as documented by
State Street in the Fee Schedule or fee charges provided prior to the execution of this Agreement. In the event of any Trust's termination
of this Agreement for any reason other than (a) as set forth in Section 16.1 or 16.2 or (b) a transaction not in the ordinary course
of business pursuant to which the Custodian is not retained to continue providing services hereunder to a Trust, the applicable Trust
shall pay to the Custodian any compensation due through the end of the then-current term (based upon the average monthly compensation
previously earned by the Custodian with respect to the Trust) and shall reimburse the Custodian for its other fees, expenses and charges.
Upon receipt of such payment and reimbursement, the Custodian will deliver the Trust’s cash and its securities and other financial
assets as set forth in Section 17.

SECTION 16.4     EXCLUSIONS.
No payment will be required pursuant to clause (b) of Section 16.3 in the event of any transaction consisting of (a) the
liquidation or dissolution of a Trust and distribution of the Trust’s assets as a result of its determination in its reasonable
business judgment that such liquidation or dissolution is in the best interests of the Trust, (b) a merger of a Trust into, or the
consolidation of a Trust with, another organization or series, or (c) the sale by a Trust of all or substantially all of its assets
to another organization or series and, in the case of a transaction referred to in the foregoing clause (b) or (c) the Custodian
is retained to continue providing services to the Trust (or its respective successor) on substantially the same terms as this Agreement.

SECTION 16.5     EFFECT
OF TERMINATION. Termination of this Agreement with respect to any one particular Trust shall in no way affect the rights and duties
under this Agreement with respect to any other Trust to the extent not terminated. Following termination with respect to a Trust, the
Custodian shall have no further responsibility to forward information under Section 3.7 or 5.10. The provisions of Sections
7, 14, 15, 17, 20.11 and 20.12 of this Agreement shall survive termination of this Agreement.

SECTION 17.	SUCCESSOR CUSTODIAN .

SECTION 17.1     SUCCESSOR
APPOINTED. If a successor custodian shall be appointed for a Trust, the Custodian shall, upon termination of this Agreement and receipt
of Proper Instructions, deliver to the successor custodian at the office of the Custodian, duly endorsed and in the form for transfer,
all cash and all securities and other financial assets of the Trust then held by the Custodian hereunder and shall transfer to an account
of the successor custodian all of the securities and other financial assets of the Trust held in a U.S. Securities System or Foreign Securities
System or at the Underlying Transfer Agent.

SECTION 17.2     NO SUCCESSOR
APPOINTED. If no such successor custodian shall be appointed, the Custodian shall, in like manner, upon receipt of Proper Instructions,
deliver at the office of the Custodian and transfer the cash and the securities and other financial assets of the Trust in accordance
with the Proper Instructions.

SECTION 17.3     NO SUCCESSOR
APPOINTED AND NO PROPER INSTRUCTIONS. If no successor custodian has been appointed and no Proper Instructions have been delivered
to the Custodian on or before the termination of this Agreement, then the Custodian shall have the right to deliver to a bank or trust
company, which is “bank” as defined in the 1940 Act, doing business in Boston, Massachusetts, or New York, New York, of its
own selection, all cash and all securities and other financial assets of the Trust then held by the Custodian hereunder, and to transfer
to an account of the bank or trust company all of the securities and other financial assets of the Trust held in any U.S. Securities System
or Foreign Securities System or at the Underlying Transfer Agent. The transfer will be on such terms as are contained in this Agreement
or terms as similar as reasonably possible that the Custodian may otherwise reasonably negotiate with the bank or trust company. Any compensation
payable to the bank or trust company, and any cost or expense incurred by the Custodian, in connection with the transfer shall be for
the account of the Trust.

SECTION 17.4     REMAINING
PROPERTY. If any cash or any securities or other financial assets of the Trust held by the Custodian hereunder remain held by the
Custodian after the termination of this Agreement owing to the failure of the applicable Trust to provide Proper Instructions, the Custodian
shall be entitled to fair compensation for its services during such period as the Custodian holds the cash or the securities or other
financial assets (the existing agreed-to compensation at the time of termination shall be one indicator of what is considered fair compensation).The
provisions of this Agreement relating to the duties, exculpation and indemnification of the Custodian shall apply during such period.

SECTION 17.5     RESERVES.
Notwithstanding the foregoing provisions of this Section 17, the Custodian may retain a reasonable amount of cash or securities or other
financial assets of the Trust as a reserve reasonably established by the Custodian to secure the payments due and owing by Trust and
any reasonably anticipated additional payments for obligations of the Trust secured by a security interest or right of recoupment or
setoff in favor of the Custodian.

SECTION 18.	RESERVED .

SECTION 19.	RESERVED .

SECTION 20.	GENERAL .

SECTION 20.1     GOVERNING
LAW. Any and all matters in dispute between the parties hereto, whether arising from or relating to this Agreement, shall be governed
by and construed in accordance with laws of the Commonwealth of Massachusetts, without giving effect to any conflict of laws rules. Likewise,
the law applicable to all issues in Article 2(1) of the Hague Convention on the Law Applicable to Certain Rights in respect of Securities
Held with an Intermediary is the law in force in the Commonwealth of Massachusetts.

SECTION 20.2     RESERVED.