Contract
Exhibit 10.14
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Xxxxxx X. Xxxxxxxx Senior Vice President General Counsel |
October 1, 2004
Prudential Financial Derivatives, LLC.
Attn: Xxx Xxxxxx, General Counsel
Xxx Xxx Xxxx Xxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Letter Agreement Amending and Restating Brokerage Agreements
Please be advised that as of 12:01a.m. Friday, October 1, all the issued and outstanding shares of the capital stock of Prudential Securities Futures Management Inc. and Seaport Futures Management, Inc., (together the “Prudential Managing Owners”) of the undersigned Trusts/Fund are owned by Preferred Investment Solutions Corp. f/k/a Kenmar Advisory Corp. (the managing owner and general partner thereto collectively, the “Kenmar Managing Owner”).
The Trusts and Fund have entered into various brokerage agreements with Prudential Financial Derivatives, LLC. (“PFD” or “Broker”), such brokerage agreements are listed on Schedule I hereof (collectively hereafter, “Brokerage Agreements”). Please be advised that the Kenmar Managing Owner, on behalf of the Trusts and Fund, desires to continue the Brokerage Agreements on identical terms except with respect to remuneration. Therefore, consider this Letter Agreement as an amendment and restatement of the various Brokerage Agreements on identical terms save remuneration. This Letter Agreement serves to strike and replace as follows each remuneration sections in their entirety:
“Compensation to the Broker. The Broker’s compensation for its services shall be limited to the commodity brokerage fees charged in accordance herewith. Broker shall xxxx commissions to the Trust or Fund, as the case may be, per transaction in the amount pf $2.00 per contract per half turn plus all other transaction costs, including but not limited to brokerage charges, give up fees, commissions and service fees that PFD may from time to time charge, all contract market, clearing house, clearing member, NFA and CFTC fees or charges, fines or penalties, and other amounts owed to PFD with respect to brokerage transactions.”
Notices to the Trusts/Fund shall be provided as follows:
Preferred Investment Solutions, Corp.
c/o NAME OF TRUST/FUND
Attn: Secretary/General Counsel
00 Xxxxxx Xxxxxx
Building Xxx Xxxxx, 0xx Xxxxx
Xxxxxxxxx, XX 00000
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Xxxxxx X. Xxxxxxxx |
Also, please find attached a Secretary’s Certificate from the Kenmar Managing Owner, Preferred Investment Solutions Corp., designating signatories for the PFD accounts relative hereto.
If this Letter Agreement is acceptable, please sign both copies of this Letter Agreement and return one copy to the undersigned.
PRUDENTIAL BACHE DIVERSIFIED FUTURES FUND, L.P. to be known as DIVERSIFIED FUTURES FUND L.P.
DIVERSIFIED FUTURES TRUST I
PRUDENTIAL SECURITIES STRATEGIC TRUST to be known as FUTURES STRATEGIC TRUST
DIVERSIFIED FUTURES TRUST II
WORLD MONITOR TRUST
WORLD MONITOR TRUST II
PRUDENTIAL-BACHE INTERNATIONAL FUTURES FUND B, C, D and F, PLC.
By: Preferred Investment Solutions Corp., Managing Owner/General Partner
| By: | /s/ Xxxxxx X. Xxxxxxxx | |
| Name: | Xxxxxx X. Xxxxxxxx | |
| Title: | Secretary |
| AGREED AND ACCEPTED: | ||
| PRUDENTIAL FINANCIAL DERIVATIVES, LLC | ||
| By: | /s/ Xxxxxxx X. Xxxxx, Xx. | |
| Name: | Xxxxxxx X. Xxxxx, Xx. | |
| Title: | Senior Vice President | |
| c: | Xxxxxxx X. Xxxxx, Xx., Prudential | |
| Xxxxxx Xxxx, Kenmar |
| 0 Xxxxxxxx Xxxx X.X. Xxx 0000 Xxxxxxxxx, Xxxxxxxxxxx 00000-0000 |
Tel 000.000.0000 Fax 000.000.0000 | |||
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Xxxxxx X. Xxxxxxxx Senior Vice President General Counsel |
Schedule I
PRUDENTIAL BACHE DIVERSIFIED FUTURES FUND, L.P. to be known as DIVERSIFIED FUTURES FUND L.P.
| • | Brokerage Agreement dated October 18, 1988 |
DIVERSIFIED FUTURES TRUST I
| • | Brokerage Agreement dated January 4, 1995 |
PRUDENTIAL SECURITIES STRATEGIC TRUST, f/k/a WILLOWBRIDGE STRATEGIC TRUST to be known as FUTURES STRATEGIC TRUST
| • | Brokerage Agreement dated May 1, 1996 |
DIVERSIFIED FUTURES TRUST II
| • | Brokerage Agreement dated February 12, 1997 |
WORLD MONITOR TRUST
| • | Brokerage Agreement dated March 24, 1998 |
WORLD MONITOR TRUST II
| • | Brokerage Agreement dated September 17, 1999 |
PRUDENTIAL-BACHE INTERNATIONAL FUTURES FUND B, C, D, and F, PLC.
| • | Brokerage Agreement dated May 30, 1996 (Fund B, C, and D) |
| • | Brokerage Agreement dated May 19, 1997 (Fund F) |
