EXHIBIT 10.1
AMENDMENT
TO
MANAGEMENT AGREEMENT
WHEREAS, DEMETER MANAGEMENT CORPORATION, a Delaware corporation (the
"General Partner") on behalf of XXXXXX XXXXXXX XXXX XXXXXX SPECTRUM TECHNICAL
L.P., a Delaware limited partnership (formerly, Xxxx Xxxxxx Spectrum Technical
L.P.) (the "Partnership"), and XXXX X. XXXXX & COMPANY, INC., a Florida
corporation (the "Trading Manager"), have agreed to amend the Management
Agreement, dated as of November 1, 1994 (the "Management Agreement"), among the
Partnership, the General Partner, and the Trading Manager, to change the
management fee and the incentive fee payable to the Trading Manager.
WHEREAS, all provisions contained in the Management Agreement remain in
full force and effect and are modified only to the extent necessary to provide
for the amendment set forth below.
NOW, THEREFORE, the parties hereto hereby amend the Management Agreement
as follows:
1. The monthly management fee rate of 1/3 of 1% (a 4% annual rate)
referred to in Section 6(a)(i) of the Management Agreement is hereby changed to
1/6 of 1% (a 2% annual rate).
2. The monthly incentive fee percentage of 15% referred to in Section
6(a)(ii) of the Management Agreement is hereby changed to 20%.
3. The foregoing changes shall take effect as of December 1, 2000.
IN WITNESS WHEREOF, this Amendment to the Management Agreement has been
executed for and on behalf of the undersigned as of the 30th day of November,
2000.
XXXXXX XXXXXXX XXXX XXXXXX SPECTRUM
TECHNICAL L.P.
By: Demeter Management Corporation,
General Partner
By: /s/Xxxxxx X. Xxxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxxx
Title: President
DEMETER MANAGEMENT CORPORATION
By: /s/Xxxxxx X. Xxxxxx
-----------------------------------
Name: Xxxxxx X. Xxxxxx
Title: President
XXXX X. XXXXX & COMPANY, INC
By: /s/X.X. Xxxxx
-----------------------------------
Name: Xxxxx X. Xxxxx
Title: Sr. Vice President
