Xxxxx Xxxxxx Futures Management LLC
000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000-0000
June 22, 1998
Xxxxxxxx & Co. Inc.
000 Xxxx Xxxxxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 000000
Attn: Xx. Xxxxx Xxxxxxx
Re: Management Agreement Renewal
Xxxxx Xxxxxx Potomac Futures Fund L.P.
Dear Xx. Xxxxxxx:
We are writing with respect to your management agreement concerning the
commodity pool to which reference is made above (the "Management Agreement"). We
would like to extend the term of the Management Agreement through June 30, 1999
and make the atthaced modification on Rider 1. All other provisions of the
Management Agreement will remain unchanged.
Please indicate your agreement to and acceptance of this modification by signing
one copy of this letter and returning it to the attention of Xx. Xxxxxx Xxxxxxxx
at the address above or fax to 000-000-0000. If you have any questions I can be
reached at 000-000-0000.
Very truly yours,
XXXXX XXXXXX FUTURES MANAGEMENT LLC
By: /s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
Chief Financial Officer,
Director & Treasurer
AGREED AND ACCEPTED
XXXXXXXX & CO. INC.
By: /s/ Xxxxxxx X. Xxxxxxx
Print Name: Xxxxxxx X. Xxxxxxx
Chief Financial Officer
Xxxxxxxx & Co. Inc.
RIDER I
(1) The Advisor further agrees that it will instruct Xxxxx Xxxxxx to
convert foreign currency balances (nor required to margin positions denominated
in a foreign currency) to U.S. dollars no less frequently than monthly.
Instruction will take the form of a fax transmitted monthly specifying the
account name and number using the following language:
"Please convert all foreign currency balances for the account(s)
specified above that are not required to margin position denominated in the
foreign currency to U.S. dollars."
(2) The Advisor's performance tables have been examined by an independent
certified public accountant and the report thereon has been provided to SBFM.
The Advisor will have its performance tables examined no less frequently than
annually during the term of this Agreement.
(3) The Advisor may terminate the Management Agreement at any time, upon 30
days prior notice to SBFM.
