June 1, 2011
Exhibit 10.3(a)
June 1, 2011
AAA Capital Management Advisors, Ltd.
0000 Xxxx Xxx Xxxx. #000
Houston, Texas 77056
Attention: Xx. Xxxxxxx Xxxxxxxxxx
Re: Management Agreement Renewal
Dear Xx. Xxxxxxxxxx:
We are writing with respect to your management agreement concerning the commodity pools 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.
| • | AAA Capital Energy Fund L.P. |
| • | AAA Capital Energy Fund X.X. XX |
| • | AAA Master Fund LLC |
| • | Orion Futures Fund L.P. |
| • | Institutional Futures Portfolio L.P |
| • | Global Futures Fund LTD |
| • | Orion Futures Fund (Cayman) LTD. |
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 | ||
| AAA CAPITAL MANAGEMENT INC. | ||
| By: | /s/ Xxxxxxx Xxxxxxxxxx | |
| Print Name: Xxxxxxx Xxxxxxxxxx | ||
| JM/sr | ||
