AMENDMENT TO THE ADVISORY AGREEMENT
AMENDMENT TO THE ADVISORY AGREEMENT
This AMENDMENT dated as of March 1, 2012 to the ADVISORY AGREEMENT made as of the 30th day of April, 2007, among CERES MANAGED FUTURES LLC (formerly Demeter Management Corporation), a Delaware limited liability company (the “Trading Manager”), XXXXXX XXXXXXX XXXXX XXXXXX XXXXXX I, LLC (formerly Xxxxxx Xxxxxxx Managed Futures Kaiser I, LLC), a Delaware limited liability company (the “Trading Company”) and XXXXXX TRADING GROUP PTY. LTD., a private company organized under the laws of Australia (the “Trading Advisor”).
W I T N E S S E T H:
WHEREAS, the Trading Manager, the Trading Company and the Trading Advisor wish to amend the Advisory Agreement dated as of April 30, 2007 to reflect certain changes in the futures interests traded by the Trading Advisor.
NOW, therefore, the parties agree as follows:
1. The first sentence of Section 5(a)(i) shall be deleted and replaced by the following:
The Trading Company shall pay the Trading Advisor a monthly management fee equal to 1/12 of 1.5% (a 1.5% annual rate) of the Net Assets (as defined in Section 5(c) hereof) as of the first day of each month (the “Management Fee”).
2. Exhibit C to the Agreement shall be deleted and replaced by the following:
EXHIBIT C
FUTURES INTERESTS TRADED
Market Exchange
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Bonds
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Treasury Notes (5 Year) CBOT
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Treasury Notes (10 Year) CBOT
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BOBL EUREX
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Bunds EUREX
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Long Gilt LIFFE
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Treasury Bonds (30 Year) CBOT
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Japanese Govt Bonds (10 Year) TSE
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Energies
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Crude Oil NYMEX & ACCESS
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Natural Gas NYMEX
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Heating Oil NYMEX
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Foreign Exchange (Cash)
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USD/AUD N/A - OTC
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USD/GBP N/A - OTC
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EUR/USD N/A - OTC
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USD/CAD N/A - OTC
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USD/JPY N/A - OTC
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USD/CHF N/A – OTC
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NZD/USD N/A – OTC
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USD/MXN N/A – OTC
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USD/ZAR N/A - OTC
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Share Indexes
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Hang Seng HKFE
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FTSE 100 LIFFE
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Dax EUREX
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CAC 40 Index EURONEXT
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Nikkei 225 Index (Osaka) OSE
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E-Mini Nasdaq CME
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DJ Euro 50 Index EUREX
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E-Mini S&P CME
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Mini Dow Xxxxx (Day) CBOT
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Amsterdam Index AEX EOE
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Soft & Agricultural Commodities
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Wheat CBOT & ACCESS
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Corn CBOT & ACCESS
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Soybeans CBOT
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Coffee ICE-NYBOT
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Cotton ICE-NYBOT
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Soybean Meal CBOT
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Soybean Oil CBOT
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Sugar ICE-NYBOT
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Lean Hogs CME
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Live Cattle CME
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Metals
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Gold COMEX
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Copper COMEX
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3. In all other respects the Advisory Agreement remains unchanged and of full force and effect.
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IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first above written.
CERES MANAGED FUTURES LLC
By
Xxxxxx Xxxxx
President
XXXXXX XXXXXXX XXXXX XXXXXX XXXXXX I, LLC
By: Ceres Managed Futures LLC
(Trading Manager)
By
Xxxxxx Xxxxx
President
XXXXXX TRADING GROUP PTY. LTD.
By
Xxxx X’Xxxxxxxxxxx
Director
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