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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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.

10.7.	SEPARATE LIMITATION OF LIABILITY . FOR THE AVOIDANCE OF DOUBT, THE
LIMITATIONS OF LIABILITY IN THIS SECTION 10 ARE SEPARATE LIMITATIONS OF LIABILITY BETWEEN ANCHORAGE AND EACH CLIENT AND SHALL NOT INCLUDE
ANY AMOUNT PAID BY CLIENTS IN THE AGGREGATE.

11.	Dispute Resolution; Binding Arbitration.

11.1.	Arbitration . Any Claim arising out of or relating to this Agreement, or the breach, termination,
enforcement, interpretation or validity thereof, including any determination of the scope or applicability of the agreement to arbitrate
as set forth in this Section, shall be finally determined and settled by binding arbitration in the state of New York, before one neutral
arbitrator. The arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures, and the award
of the arbitrator (the “ Award ”) shall be accompanied by a reasoned opinion. Judgment on the Award may be entered in
any court having jurisdiction. This Agreement shall not preclude the Parties from seeking provisional relief, including injunctive relief,
in any court of competent jurisdiction. Seeking any such provisional relief shall not be deemed to be a waiver of such party’s right
to compel arbitration. The Parties expressly waive their right to a jury trial to the extent permitted by applicable Law.

11.2.	Arbitration . In any arbitration arising out of or related to this Agreement, the arbitrator shall
award to the prevailing party, if any, as determined by the arbitrator, some or all of its costs and fees, in the arbitrator’s sole
discretion. “Costs and fees” mean all reasonable pre-award expenses of the arbitration, including the arbitrator’s fees,
administrative fees, out-of-pocket expenses such as copying and telephone, court costs, witness fees, and reasonable attorneys’
fees.

11.3.	Interstate Commerce . The Parties acknowledge that this Agreement evidences a transaction involving
interstate commerce. Notwithstanding the provision herein with respect to applicable substantive law, any arbitration conducted pursuant
to the terms of this Agreement shall be governed by the Federal Arbitration Act (9 U.S.C. §§ 1-16).

12.	General Provisions.

12.1.	Independent Contractor . It is understood by the Parties that Anchorage is an independent contractor,
and that this Agreement does not create or constitute a partnership, joint venture or employment relationship between the Parties.

12.2.	No Third Party Beneficiaries . This Agreement is not intended to and shall not be construed to give
any Third Party any interest or rights (including, without limitation, any Third Party beneficiary rights) with respect to or in connection
with any agreement or provision contained herein or contemplated hereby, except as otherwise expressly provided for in this Agreement.

12.3.	No additional terms. With the exception of any privacy policy made available in connection with
the Technology Platform, no shrink-wrap, click-acceptance or other terms and conditions (“ Additional Terms ”) presented
or otherwise provided with any Services (including the Technology Platform) will be binding on Client, even if use of such Services requires
an affirmative “acceptance” of Additional Terms before Client can access them. Any Additional Terms are deemed rejected by
Client in their entirety.

12.4.	Force Majeure . Neither Party will be liable to the other Party for the failure to perform or delay
in the performance of its obligations under this Agreement to the extent such failure or delay is directly caused by or directly results
from a cause or condition entirely beyond the reasonable control of the Party affected by it , including: any act of God; embargo; natural
disaster; act of civil or military authorities; act of terrorists; cybersecurity incident or attack (including DDoS, network intrusion,
or critical vulnerability exploitation) not caused by or otherwise arising from the affected Party’s (or its Personnel’s):
(i) breach of this Agreement; (ii) violation of applicable Laws, (iii) negligence; (iv) willful misconduct; (v) failure to comply with
applicable internal policies and procedures in connection with cybersecurity incidents or attacks; or (vi) failure to take reasonable
precautions and act in a manner consistent with industry best practices in connection with the prevention and mitigation of cybersecurity
incidents or attacks; government prohibitions or changes in Law, regulation, regulatory guidance, sanctions programs, or licensing/registration
status that make performance illegal; civil disturbance; war; strike or other labor dispute; fire; severe weather; interruption in telecommunications,
Internet services, or network provider services; outbreaks of infectious disease or any other public health crises, including quarantine
or other required employee restrictions; or any other catastrophe or material event which is entirely beyond the reasonable control of
the Party affected by it. For the avoidance of doubt, a cybersecurity attack, hack or other intrusion committed by or on behalf of Anchorage
Personnel is not a circumstance that is entirely beyond Anchorage's reasonable control (a “ Force Majeure Event ”). The
affected Party will not be held liable by the other Party for such non-performance or delay as long as the fact of the occurrence of such
Force Majeure Event is duly proven or is reasonably provable and the affected Party uses commercially reasonable efforts to mitigate the
impact of such Force Majeure Event and resume performance as soon as reasonably practicable. In addition, Anchorage will not be liable
to Client for any costs or expenses incurred by Client as a result of any Force Majeure Event. Notwithstanding the foregoing, if the delay
in performance exceeds thirty (30) days, the Party awaiting performance will be permitted to terminate this Agreement upon five (5) days’
prior written notice to the other Party, with no further obligation to the Party claiming excusable delay.

12.5.	Notices . All notices required or permitted under this Agreement will be in writing and delivered
by courier, mail, electronic mail, or within the Anchorage Digital Mobile Application (except for service of legal process which shall
be by registered or certified mail, postage prepaid, return receipt requested or overnight courier). A Party’s email addresses,
or physical address may be changed from time to time by either Party by providing written notice to the other in the manner set forth
above.

12.6.	Execution in Counterparts and by Electronic Means . This Agreement may be executed in counterparts
and by electronic means and the Parties agree that such electronic means and delivery will have the same force and effect as delivery
of an original document with original signatures.

12.7.	Entire Agreement; Amendment . This Agreement includes all addendums, exhibits, schedules and attachments
referenced herein, all of which are incorporated herein by this reference. This Agreement is the final, complete, and entire agreement
of the Parties. There are no other promises or conditions in any other agreement, oral or written. This Agreement supersedes and replaces,
as applicable, any prior promises, agreements, representations, undertakings, or implications whether made orally or in writing between
the Parties related to the subject matter of this Agreement, including but not limited to, any prior Master Custody Services Agreements
entered into between the Parties which shall be deemed terminated upon the execution of this Agreement. The Agreement may only be modified
or amended in writing and signed by both Parties.

12.8.	Remedies Cumulative . Each Party 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.