June 1, 2012 Warrington Asset Management LLC

Exhibit 10.1(b)

June 1, 2012

Warrington Asset Management LLC

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, 2013 and all other provisions of the Management Agreement will remain unchanged.

• Warrington 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. Xxxxx Xxxxxxx 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/ Xxxxx Xxxxxxx
		Xxxxx Xxxxxxx
		Chief Financial Officer and Director

WARRINGTON ASSET MANAGEMENT LLC
By:		/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx

BC/sr