Smith Barney Futures Management LLC 388 Greenwich Street, 7th Floor New York, New York 10013-2396 May 31, 2000 Eagle Trading Systems, Inc. 47 Hullfish Street - Suite 410 Princeton, N.J. 08542 Attention: Mr. Menachem Sternberg Re: Management Agreement...

                       Xxxxx Xxxxxx Futures Management LLC
                         000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx
                          Xxx Xxxx, Xxx Xxxx 00000-0000

May 31, 2000



Eagle Trading Systems, Inc.
00 Xxxxxxxx Xxxxxx - Xxxxx 000
Xxxxxxxxx, X.X. 08542

Attention:  Xx. Xxxxxxxx Xxxxxxxxx

         Re:      Management Agreement Renewal

Dear Xx. Xxxxxxxxx:

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, 200 and all
other provisions of the Management Agreement will remain unchanged.

                       Xxxxxxx Xxxxx Xxxxxx Global Diversified Futures Fund L.P.
Please  acknowledge  receipt 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:
         Xxxxxx X. Xxxxxxxx
         Chief Financial Officer,
         Director & Treasurer

By:
AGREED AND ACCEPTED

EAGLE TRADING SYSTEMS, INC.



DAD/sr