June 1, 2011 Warrington Asset Management

Exhibit 10.1(b)

June 1, 2011

Warrington Asset Management

000 Xxxxxxxx Xxxxx — Xxxxx 000

Dallas, Texas 75201

Attention: Xx. Xxxxx X. Xxxxxx

Re: Management Agreement Renewal

Dear Xx. Xxxxxx:

We are writing with respect to your management agreement concerning the commodity pool to which reference is made below (the “Management Agreement”). We are extending the term of the Management Agreement through June 30, 2012 and all other provisions of the Management Agreement will remain unchanged.

• Warrington Fund L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Xx. Xxxxxxxx Xxxxx 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,
CERES MANAGED FUTURES LLC
By:		/s/ Xxxxxxxx Xxxxx
		Xxxxxxxx Xxxxx
		Chief Financial Officer & Director

WARRINGTON ASSET MANAGEMENT
By:		/s/ Xxxxx Xxxxxx
Print Name:		Xxxxx Xxxxxx
JM/sr