June 1, 2012 John W. Henry & Company, Inc.

Exhibit 10.3(b)

June 1, 2012

▇▇▇▇ ▇. ▇▇▇▇▇ & Company, Inc.

▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇

▇▇▇▇ ▇▇▇▇▇, ▇▇. 33431-4931

Attn: Mr. ▇▇▇ ▇▇▇▇▇▇▇

Re: Management Agreement Renewals

Dear ▇▇. ▇▇▇▇▇▇▇:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the “Management Agreements”). We are extending the term of the Management Agreements through June 30, 2013 and all other provisions of the Management Agreements will remain unchanged.

• Westport JWH Futures Fund L.P.

• JWH Master Fund LLC

• Tactical Diversified Futures Fund L.P.

• Institutional Futures Portfolio L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of ▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇ at the address above or fax to ▇▇▇-▇▇▇-▇▇▇▇. If you have any questions I can be reached at ▇▇▇-▇▇▇-▇▇▇▇.

Very truly yours,
CERES MANAGED FUTURES LLC
By:		/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
		Chief Financial Officer and Director
▇▇▇▇ ▇. ▇▇▇▇▇ & COMPANY, INC
By:		/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Print Name:		▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
BC/sr