Exhibit 99(d)(xxvi)(iii)
THIRD AMENDMENT TO THE
SUB-ADVISORY AGREEMENT
This Third Amendment to the Sub-Advisory Agreement (the “Amendment”) is made as of January 14, 2026, by and between TIDAL INVESTMENTS LLC (the “Adviser”) and NICHOLAS WEALTH, LLC (the “Sub-Adviser”).
BACKGROUND:
| A. | The Adviser and the Sub-Adviser are parties to a Sub-Advisory Agreement dated as of July 16, 2024, as amended to date (the “Agreement”). |
| B. | Pursuant to Section 22 of the Agreement the parties desire to amend and restate Schedule A to the Agreement to add the following new series: |
Nicholas Gold Income ETF
Nicholas Silver Income ETF
Nicholas Nuclear Income ETF
Nicholas Defense and Rare Earth Income
Nicholas Bitcoin Tail ETF
Nicholas Bitcoin and Treasuries AfterDark ETF
| C. | This Background section and the Schedule attached to this Amendment are incorporated by reference into, and made a part of, this Amendment. |
TERMS:
NOW, THEREFORE, intending to be legally bound, the parties agree as follows:
| 1. | The current Schedule A to the Agreement is hereby amended and restated in its entirety as set forth on the Amended and Restated Schedule A attached hereto. |
| 2. | Miscellaneous. |
| a. | Capitalized terms not defined in this Amendment shall have the respective meanings set forth in the Agreement. |
| b. | Except as specifically amended by this Amendment, and except as necessary to conform to the intention of the parties hereinabove set forth, the Agreement shall remain unaltered and in full force and effect and is hereby ratified and confirmed. |
| c. | The Agreement, as amended hereby, together with its Amended and Restated Schedule A, constitutes the complete understanding and agreement of the parties with respect to the subject matter hereof and supersedes all prior communications with respect thereto. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The facsimile signature of any party to this Amendment shall constitute the valid and binding execution hereof by such party. |
[Signature Page Follows]
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IN WITNESS WHEREOF, the parties have caused this Amendment to be signed by duly authorized representatives as of the date first set forth above.
| TIDAL INVESTMENTS LLC | ||
| By: | /s/Jay Pestrichelli | |
| Name: | Jay Pestrichelli | |
| Title: | Chief Trading Officer | |
| Date: | O1/15/2026 | |
| NICHOLAS WEALTH, LLC | ||
| By: | /s/David Nicholas | |
| Name: | David Nicholas | |
| Title: | President | |
| Date: | 02/02/2026 | |
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Amended and Restated Schedule A
to the
Sub-Advisory Agreement by and between Tidal Investments LLC and Nicholas Wealth, LLC
(January 14, 2026)
| Fund Name | Sub-Advisory Fee | Effective Date | Trading Authority | Proxy Voting Authority |
| Nicholas Fixed Income Alternative ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Global Equity and Income ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Crypto Income ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Gold Income ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Silver Income ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Nuclear Income ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Defense and Rare Earth Income | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Bitcoin Tail ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
| Nicholas Bitcoin AfterDark ETF | 0.05% | Commencement of Operations | Non-Discretionary | None |
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