0001193125-11-047651 Sample Contracts

ADVISORY AGREEMENT

Advisory Agreement • February 25th, 2011 • BHM Discretionary Futures Fund L.P. • New York

• Contract Type
  Advisory Agreement
• Filed
  February 25th, 2011
• Company
  BHM Discretionary Futures Fund L.P.
• Jurisdiction
  New York

LIMITED PARTNERSHIP AGREEMENT

Limited Partnership Agreement • February 25th, 2011 • BHM Discretionary Futures Fund L.P. • New York

• Contract Type
  Limited Partnership Agreement
• Filed
  February 25th, 2011
• Company
  BHM Discretionary Futures Fund L.P.
• Jurisdiction
  New York

This Agreement of Limited Partnership, dated as of August 23, 2010, by and between Demeter Management LLC, a Delaware limited liability company (the “General Partner”), and the other parties who shall execute this Agreement, whether in counterpart, by separate instrument, or otherwise, as limited partners (collectively “Limited Partners”; the General Partner and Limited Partners may be collectively referred to herein as “Partners”).

FOREIGN EXCHANGE AND OPTIONS MASTER AGREEMENT (FEOMA)

Foreign Exchange and Options Master Agreement • February 25th, 2011 • BHM Discretionary Futures Fund L.P. • New York

• Contract Type
  Foreign Exchange and Options Master Agreement
• Filed
  February 25th, 2011
• Company
  BHM Discretionary Futures Fund L.P.
• Jurisdiction
  New York

MASTER AGREEMENT dated as of November 28, 2007, by and between Morgan Stanley & Co. Incorporated, a Delaware corporation and the entities listed in Exhibit I to the Schedule of this Agreement (as amended or supplemented from time to time), severally and not jointly, (each, a commodity pool limited partnership formed under the laws of the State of Delaware) and Demeter Management Corporation, not individually by solely as General Partner and/or Trading Manager for each entity listed in Exhibit I.

MORGAN STANLEY MANAGED FUTURES BHM I, LLC OPERATING AGREEMENT dated as of March 26, 2007

Operating Agreement • February 25th, 2011 • BHM Discretionary Futures Fund L.P. • New York

• Contract Type
  Operating Agreement
• Filed
  February 25th, 2011
• Company
  BHM Discretionary Futures Fund L.P.
• Jurisdiction
  New York

THIS OPERATING AGREEMENT (this “Agreement”), dated as of March 26, 2007, by and between each of the parties listed on Schedule I attached hereto (collectively, the “Members”), and Demeter Management Corporation, a Delaware corporation (“Demeter” or the “Trading Manager”), shall govern Morgan Stanley Managed Futures BHM I, LLC (the “Company”).

CUSTOMER AGREEMENT

Customer Agreement • February 25th, 2011 • BHM Discretionary Futures Fund L.P.

• Contract Type
  Customer Agreement
• Filed
  February 25th, 2011
• Company
  BHM Discretionary Futures Fund L.P.

THIS CUSTOMER AGREEMENT (this “Agreement”) made as of the 24th day of July, 2007 , by and among Each Customer listed on Schedule A, severally and not jointly, each a Delaware limited liability company (the “Customer”) and MORGAN STANLEY & CO. INTERNATIONAL PLC (“MSIL”);