exhibit 10. 1 third amendment to the license agreement this third amendment ( “ amendment ” ) dated as of october 20, 2011 is by and among the new york mercantile exchange, inc. ( “ nymex ” ), united states commodity funds llc ( “ uscf ” ) as general partner to the funds listed in attachment a hereto ( the “ funds ” ) and the funds. whereas, nymex, united states oil fund, lp, united states natural gas fund, lp united states gasoline fund, lp, united states heating oil fund, lp and victoria bay asset management llc entered into a license agreement as of april 10, 2006, which was amended on december 4, 2007 adding united states 12 month oil fund, lp and united states 12 month natural gas fund, lp as parties to such agreement, and which was amended again on may 22, 2009 ( as amended, the “ original license agreement ” ) ; whereas, nymex, uscf and the funds wish to further amend sections 5. 1 and 5. 2 of section 5 – compensation of the agreement ; whereas, the original license agreement was terminated by letter dated october 7, 2011 from mr. howard mah of united states commodity funds llc to nymex ( the “ termination notice ” ), so the parties would like to renew the agreement in accordance with its terms as modified herein ; now, therefore, nymex, uscf and the funds agree as follows : 1. amendment to the agreement. sections 5. 1 and 5. 2 of the license agreement are replaced with the following : 5. 1 as payment in full for the license granted hereunder, united states commodity funds llc, on behalf of the licensees, shall pay, on a quarterly basis to licensor, a license fee as set forth in the table below ( “ license fee ” ) in u. s. dollars. licensees shall make all license fee payments in compliance with this article 5. total face amount license fee total face amount 1. 5 basis points of the total face amount total face amount license fee total face amount 5. 2 united states commodity funds llc shall pay the license fee to licensor on a quarterly basis as follows. quarterly payments shall be the sum of the calculated license fees according to the following formula : daily license fee = [ ( total face amount ×. 00015 ) ÷ 365 ]. all cover pages to payment reports are corrected to reflect the amended formula. on days that the securities