Exhibit 10.17

June 30, 2007

Chesapeake Capital Corporation
500 Forest Avenue
Richmond, VA 23229

Attention: Mr. John M. Hoade

Re:    Management Agreement Renewals

Dear Mr. Hoade:

We are writing with respect to your management agreements concerning the
commodity pools to which reference is made below (the ‘‘Management
Agreements’’). We are extending the term of the Management Agreements through
June 30, 2008 and all other provisions of the Management Agreements will remain
unchanged.

[spacer.gif] [spacer.gif] [spacer.gif] •  Smith Barney Tidewater Futures Fund
L.P.

[spacer.gif] [spacer.gif] [spacer.gif] •  AURORA III

Please acknowledge receipt of this modification by signing one copy of this
letter and returning it to the attention of Ms. Jennifer Magro at the address
above or fax to 212-793-1986. If you have any questions I can be reached at
212-559-5046.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

By: /s/ Jennifer Magro
        Jennifer Magro
        Chief Financial Officer & Director

By: /s/ John M. Hoade

Print Name: John M. Hoade

JM/sr

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