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EXHIBIT 10.01(g)




ADMINISTRATION, ACCOUNTING AND INVESTOR SERVICES AGREEMENT




     THIS AGREEMENT is made as of January 12, 2005 by and between QUADRIGA SUPERFUND L.P., a
Delaware limited partnership (the “Partnership”), and PFPC INC., a Massachusetts corporation
(“PFPC”).



WITNESSETH:




     WHEREAS, the Partnership wishes to retain PFPC to provide administration, accounting and
investor services provided for herein, and PFPC wishes to furnish such services.



     NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
and intending to be legally bound hereby, the parties hereto agree as follows:




	1.	 	Definitions. As Used in this Agreement:






	 	(a)	 	“Authorized Person” means any officer of the Partnership and any other
person duly authorized by the Partnership’s General Partner to give Oral Instructions
and Written Instructions on behalf of the Partnership. An Authorized Person’s scope of
authority may be limited by setting forth such limitation in a written document signed
by both parties hereto.
	 
	 	(b)	 	“General Partner” and “Limited Partners” shall have the same
meanings as set forth in the Partnership’s Limited Partnership Agreement.
	 
	 	(c)	 	“Organizational Documents” means, in the case of the Partnership, the
by-laws,
confidential memorandum, partnership agreement, trust deed,
partnership or other documents constituting the Partnership.
	 
	 	(d)	 	“Oral Instructions” mean oral instructions received by PFPC from an
Authorized
Person or from a person reasonably believed by PFPC to be an
Authorized Person. PFPC may, in its reasonable discretion in each separate instance, consider





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	 	 	 	and rely upon instructions it receives from an Authorized Person via electronic
mail as Oral Instructions.






	 	(e)	 	“Written Instructions” mean (i) written instructions signed by an
Authorized Person and received by PFPC or (ii) trade instructions transmitted (and
received by PFPC) by means of an electronic transaction reporting system access to
which requires use of a password or other authorized identifier. The instructions may
be delivered by hand, mail, tested telegram, cable, telex or facsimile sending
device.






	2.	 	Appointment. The Partnership hereby appoints PFPC to provide administration,
accounting and investor services, in accordance with the terms set
forth in this Agreement. PFPC accepts such appointment and agrees to furnish such services.
	 
	3.	 	Compliance with Rules and Regulations.
	 
	 	 	PFPC shall comply with the applicable requirements of any laws, rules and regulations of
governmental authorities having jurisdiction with respect to the duties to be performed by
PFPC hereunder.
	 
	4.	 	Instructions.






	 	(a)	 	Unless otherwise provided in this Agreement, PFPC shall act only upon Oral
Instructions or Written Instructions.
	 
	 	(b)	 	PFPC shall be entitled to rely upon any Oral Instruction or Written Instruction
it
receives from an Authorized Person (or from a person reasonably believed by
PFPC to be an Authorized Person) pursuant to this Agreement. PFPC may
assume in its reasonable business judgment that any Oral Instruction or Written
Instruction received hereunder is not in any way inconsistent with the provisions
of Organizational Documents or this Agreement or of any vote, resolution or




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	 	 	 	proceeding of the Partnership’s General Partner, unless and until PFPC receives
Written Instructions to the contrary.






	 	(c)	 	The Partnership agrees to forward to PFPC Written Instructions confirming Oral
Instructions (except where such Oral Instructions are given by PFPC or its affiliates)
so that PFPC receives the Written Instructions as promptly as practicable and in any
event by the close of business on the day after such Oral Instructions are received.
The fact that such confirming Written Instructions are not received by PFPC or differ
from the Oral Instructions shall in no way invalidate the transactions or
enforceability of the transactions authorized by the Oral Instructions or PFPC’s
ability to rely upon such Oral Instructions.






	5.	 	Right to Receive Advice.






	 	(a)	 	Advice of the Partnership. If PFPC is in doubt as to any action it
should or should not take, PFPC may request directions or advice, including Oral
Instructions or Written Instructions, from the Partnership.
	 
	 	(b)	 	Protection of PFPC. PFPC shall be indemnified by the Partnership and
without liability for any action PFPC takes or does not take in reliance upon
authorized directions or advice or Oral Instructions or Written Instructions PFPC
receives from or on behalf of the Partnership and which PFPC believes, in good faith
and in its reasonable business judgment, to be consistent with those directions or
advice and Oral Instructions or Written Instructions. Nothing in this section shall be
construed so as to impose an obligation upon PFPC to seek such directions or advice or
Oral Instructions or Written Instructions.






	6.	 	Records: Visits.










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	 	(a)	 	The books and records pertaining to the Partnership which are in the possession or
under the control of PFPC shall be the property of the Partnership. The Partnership and
Authorized Persons shall have access to such books and records at all
times during PFPC’s
normal business hours. Upon the reasonable request of the Partnership, copies of any such
books and records shall be provided by PFPC to the Partnership or to an Authorized Person,
at the Partnership’s expense. Any such books or records may be maintained in the form of
electronic media and stored on any magnetic disk or tape or similar recording method,
	 
	 	(b)	 	PFPC shall keep the following records:






	 	(i)	 	all books and records with respect to the Partnership’s books of account;
	 
	 	(ii)	 	records of the Partnership’s securities transactions; and
	 
	 	(iii)	 	any documents generated or received by PFPC in the ordinary
course of business pertaining to administration, accounting, and investor
services matters of the Partnership or to the compensation payable to PFPC.






	 	 	 	PFPC may house these records in a third party storage facility.






	7.	 	Confidentiality. Each party shall keep confidential any information relating to the
other party’s business (“Confidential Information”). Confidential Information shall include
(a) any data or information that is competitively sensitive material, and not generally known
to the public, including, but not limited to, information about product plans, marketing
strategies, finances, operations, customer relationships, customer profiles, customer lists,
sales estimates, business plans, and internal performance results relating to the past,
present or future business activities of the Partnership or PFPC, their respective
subsidiaries and affiliated companies; (b) any scientific or technical information, design,
process, procedure, formula, or improvement that is commercially valuable and secret in




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	 	 	the sense that its confidentiality affords the Partnership or PFPC a competitive advantage over its
competitors; (c) all confidential or proprietary concepts, documentation, reports, data,
specifications, computer software, source code, object code, flow charts, databases, inventions,
know-how, and trade secrets, whether or not patentable or copyrightable; and (d) anything
designated as confidential. Notwithstanding the foregoing, information shall not be Confidential
Information and shall not be subject to such confidentiality obligations if: (i) it is already in
the public domain through no fault of the receiving party; (ii) to the extent necessary, it is
disclosed to consultants, auditors and attorneys who have entered into confidentiality agreements
similar to the one set forth herein, or to the employees of PFPC, the Partnership or the General
Partner who must have access to the Confidential Information; (iii) it is disclosed as required by
law, courts, governmental agencies, regulatory Authorities, or self-regulatory authorities; or (iv)
is essential to the defense of any claim or cause of action asserted against the receiving party
(provided the receiving party will provide the other party written notice of the same, to the
extent such





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	 	 	required by the Partnership.






	9.	 	Intellectual Property. PFPC shall retain title to and ownership of any and all
data bases,
computer programs, screen formats, report formats, interactive design techniques,
derivative works, inventions, discoveries, patentable or copyrightable matters, concepts,
expertise, patents, copyrights, trade secrets, and other related legal rights created or
developed by PFPC and used in connection with the services provided by PFPC to the
Partnership. Partnership and General Partner shall retain title to and ownership of any
and all data bases, computer programs, screen formats, report formats, interactive design
techniques, derivative works, inventions, discoveries, patentable or
copyrightable
matters, concepts, expertise, patents, copyrights, trade secrets, and other related legal
rights created or developed by Partnership and General Partner or their affiliates and used
in connection with the services provided by PFPC to the Partnership.






	10.	 	Disaster Recovery. PFPC shall enter into and shall maintain in effect with appropriate




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	12.	 	Indemnification. PFPC shall indemnify and hold Partnership and/or General
Partner
harmless from any and all expenses, costs, damages, or causes of action, including, but
not limited to, reasonable attorney’s fees, incurred by the Partnership and/or the General
Partner as the result of the unauthorized acts of PFPC, its employees, agents, or arising
out of PFPC’s negligence, willful misconduct, or breach of this Agreement. Partnership
and/or the General Partner shall indemnify and hold PFPC harmless from any and all
expenses, costs, damages, or causes of action, including, but not limited to, reasonable
attorney’s fees, incurred by PFPC in connection with this Agreement and not resulting
from the unauthorized acts of PFPC, its employees or agents, the negligence or willful
misconduct of PFPC in the performance of such obligations and duties or by reason of its
breach of this Agreement. The provisions of this Section 12 shall survive termination of
this Agreement.






	13.	 	Responsibility of PFPC.






	 	(a)	 	PFPC shall be under no duty hereunder to take any action on behalf of the
Partnership except as specifically set forth herein or as may be specifically agreed
to in writing by PFPC and the Partnership. PFPC shall be obligated to exercise
care and diligence in the performance of its duties hereunder and to act in good
faith in performing services provided for under this Agreement. PFPC shall be
liable only for any damages arising out of PFPC’s failure to perform its duties
under this Agreement to the extent such damages arise out of PFPC’s negligence,
willful misconduct, or breach of this Agreement.
	 
	 	(b)	 	Notwithstanding anything in this Agreement to the contrary, PFPC shall not be
liable for losses, delays, failure, errors, interruption or loss of data occurring




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	 	 	 	directly or indirectly by reason of circumstances beyond its reasonable control,
including without limitation acts of God; action or inaction of civil or military
authority; public enemy; war; terrorism; riot; fire; flood; sabotage; epidemics;
labor disputes; civil commotion; interruption, loss or malfunction of utilities,
transportation, computer or communications capabilities; insurrection; elements of
nature; or non-performance by a third party; and (ii) PFPC shall not be under any
duty or obligation to inquire into and shall not be liable for the validity or
invalidity, authority or lack thereof, or truthfulness or accuracy or lack thereof,
of any instruction, direction, notice, instrument or other information which PFPC
reasonably believes to be genuine.






	 	(c)	 	Notwithstanding anything in this Agreement (whether contained anywhere in
Sections 14-16 or otherwise) to the contrary, Partnership hereby acknowledges
and agrees that (i) PFPC, in the course of providing tax-related services or
calculating and reporting portfolio performance hereunder, may rely upon PFPC’s
reasonable interpretation of tax positions or its reasonable interpretation of
relevant circumstances (as determined by PFPC) in providing such tax services
and in determining methods of calculating portfolio performance to be used, and
that (ii) PFPC shall not be liable for losses or damages of any kind associated
with such reliance except to the extent such loss or damage is a result of PFPC’s
negligence or willful misconduct.
	 
	 	(d)	 	Notwithstanding anything in this Agreement to the contrary, without limiting
anything in the immediately preceding sentence, Partnership hereby acknowledges and agrees that PFPC shall not be liable for any losses or damages




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	 	 	 	of any kind associated with any tax filings with which PFPC has assisted in any way
except to the extent such loss or damage is substantially due to PFPC’s negligence
or willful misconduct.






	 	(e)	 	Notwithstanding anything in this Agreement to the contrary, neither party nor
its affiliates shall be liable for any consequential, special or indirect losses or
damages, provided that the foregoing limitation shall not apply to the extent such
damages arise out of PFPC’s gross negligence, intentional acts or willful misconduct.
	 
	 	(e)	 	Each party shall have a duty to mitigate damages for which the other party may
become responsible.
	 
	 	(f)	 	Notwithstanding anything in this Agreement to the contrary, PFPC shall have no
liability either for any error or omission of any of its predecessors
as servicer on behalf of the Partnership or for any failure to discover any such error or omission.
	 
	 	(g)	 	The provisions of this Section 13 shall survive termination of this Agreement.







	14.	 	Description of Accounting: Services on a Continuous Basis.
	 
	 	 	PFPC will perform the following accounting services if required with respect to the
Partnership:






	 	(i)	 	Journalize investment, capital and income and expense activities;
	 
	 	(ii)	 	Record futures trading activity by receiving a data file from
each of the Partnership’s futures brokers at the end of each month and posting
the activity to the Fund’s general ledger;
	 
	 	(iii)	 	Calculate contractual expenses, including management fees
and incentive allocation, as applicable, in accordance with the Partnership’s
Limited Partnership Agreement;
	 
	 	(iv)	 	Post to and prepare the Statement of Assets and Liabilities
and the Statement of Operations in U.S. dollar terms;










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	 	(v)	 	Monitor the expense accruals and notify an officer of the Partnership of
any proposed adjustments;
	 
	 	(vi)	 	Control all disbursements and authorize such disbursements upon
Written Instructions;
	 
	 	(vii)	 	Calculate capital gains and losses;
	 
	 	(viii)	 	Determine net income;
	 
	 	(ix)	 	Determine applicable foreign exchange gains and losses on
payables and receivables;
	 
	 	(x)	 	Obtain futures market quotes and currency exchange rates
directly from the Partnership’s futures brokers, or such other source
designated by the Partnership’s General Partner, and in either case calculate
the market value of the Partnership’s investments in accordance with
applicable valuation policies or guidelines provided by the Partnership to
PFPC and acceptable to PFPC;
	 
	 	(xiv)	 	Transmit or mail a copy of the portfolio valuation to the
Adviser as agreed upon between the Partnership and PFPC;
	 
	 	(xv)	 	Arrange for the computation of the net asset value in
accordance with the provisions of the offering memorandum; and
	 
	 	(xvi)	 	Perform all other accounting services necessary in connection
with the Partnership, as directed by the Partnership and/or General Partner.






	15.	 	Description of Administration Services on a Continuous Basis.
	 
	 	 	PFPC will perform the following administration services if required with respect to the
Partnership:






	 	(i)	 	Supply various normal and customary Partnership statistical
data as requested on an ongoing basis;
	 
	 	(ii)	 	Prepare for execution and file the Partnership’s Federal
form 1065 and state tax returns.
	 
	 	(iii)	 	Prepare and coordinate printing of Partnership’s annual reports;
	 
	 	(iv)	 	Copy the General Partner on routine correspondence
sent to Limited Partners; and










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	 	(v)	 	Perform such additional administrative duties necessary in connection
with the Partnership, as directed by the Partnership and/or General Partner.






	16.	 	Description of Investor Services on a Continuous Basis. PFPC will perform the
following functions:






	 	(i)	 	Maintain the register of Limited Partners of the Partnership
and enter on such register all issues, transfers and repurchases of interests
in the Partnership;
	 
	 	(ii)	 	Arrange for the calculation of the issue and repurchase prices
of interests in the the Partnership in accordance with the Limited Partnership
Agreement;
	 
	 	(iii)	 	Allocate income, expenses, gains and losses to individual
Partners’ capital accounts in accordance with the Partnership’s Limited
Partnership Agreement;
	 
	 	(iv)	 	Calculate the Incentive Allocation, if applicable, in
accordance with the Limited Partnership Agreement and reallocate corresponding
amounts from the applicable Limited Partners’ capital accounts to the General
Partners’ capital account;
	 
	 	(v)	 	Prepare and mail annually to partners any required Form K-l in
accordance with applicable tax regulations; and
	 
	 	(vi)	 	Perform all other investor services necessary in connection
with the Partnership, as directed by the Partnership and/or General Partner.






	17.	 	Duration and Termination.






	 	(a)	 	This Agreement shall continue until terminated by the Partnership or by PFPC
on sixty (60) days’ prior written notice to the other party. In the event the
Partnership gives notice of termination without cause for such termination, all
reasonable expenses associated with movement (or duplication) of records and materials
and conversion thereof to a successor service provider (or each successive service
provider, if there are more than one), and all reasonable trailing expenses incurred
by PFPC, will be borne by the Partnership. In the event that




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	 	 	 	PFPC gives notice of termination without having cause for such termination,
all reasonable expenses associated with the movement (or duplication) of
records and materials and conversion thereof to a successor service
provider 9or each successive service provider if there are more than one),
and all reasonable trailing expenses incurred by the Partnership and the
General Partners, as well as PFPC, will be borne by PFPC.






	 	(b)	 	Upon occurrence of any of the following events, the party not subject
to such event shall have the right to immediately terminate this Agreement
upon written notice to the other party: (i) either party ceases doing (or
gives notice of ceasing to do) business and its business is not continued by
another corporation or entity who has agreed to assume its obligations, (ii)
either party becomes insolvent or files for or becomes a party to any
involuntary bankruptcy, receivership or similar proceeding, and such
involuntary proceeding is not dismissed within forty-five (45) calendar days
after filing, or (iii) either party makes an assignment for the benefit of
creditors.






	18.	 	Change of Control. Notwithstanding any other provision of this Agreement,
in the event of an agreement to enter into a transaction that would result in a
Change of Control of the Fund’s adviser or sponsor, the Fund’s ability to terminate
the Agreement pursuant to Section 17 will be suspended from the time of such
agreement until two years after the Change of Control. For purposes of this
section, “Change of Control” shall be defined as a change in ownership or control
(not including transactions between wholly-owned direct or indirect subsidiaries of
a common parent) of 25% or more of the beneficial ownership of the shares of common
stock or shares of beneficial interest of the Fund’s




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	 	 	   adviser or sponsor or of either of its parent(s).






	19.	 	Notices. All notices and other communications, including Written
Instructions but
excluding Oral Instructions, shall be in writing or by confining telegram, cable, telex or
facsimile sending device. If notice is sent by confirming telegram, cable, telex or
facsimile sending device, it shall be deemed to have been given immediately. If notice is
sent by first-class mail, it shall be deemed to have been given seven days after it has been
mailed. If notice is sent by messenger, it shall be deemed to have been given on the day
it is delivered. Notices shall be addressed (a) if to PFPC, at 301 Bellevue Parkway,
Wilmington, DE 19809, attn: President (or such address as PFPC may inform the
Partnership in writing); (b) if to the Partnership, at the address of the Partnership; or
(c) if
to neither of the foregoing, at such other address or additional addresses as shall have
been provided by like notice to the sender of any such notice or other communication by
the other party.
	 
	20.	 	Amendments. This Agreement, or any term thereof, may be changed or waived only by
written amendment, signed by the party against whom enforcement of
such change or waiver is sought.
	 
	21.	 	Delegation; Assignment. PFPC may assign its rights and delegate its duties hereunder
to any majority-owned direct or indirect subsidiary of PFPC or of The PNC Financial
Services Group, Inc., provided that PFPC gives the Partnership 60 days prior written
notice of such assignment or delegation.
	 
	22.	 	Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the
same instrument.




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	23.	 	Further Actions. Each party agrees to perform such further acts and execute
such further documents as are necessary to effectuate the purposes hereof.
	 
	24.	 	Miscellaneous.






	 	(a)	 	Entire Agreement. This Agreement embodies the entire agreement and
understanding between the parties and supersedes all prior agreements and
understandings relating to the subject matter hereof, provided that the parties may
embody in one or more separate documents their agreement, if any, with respect
to delegated duties.
	 
	 	(b)	 	No Changes that Materially Affect Obligations. Notwithstanding anything
in this
Agreement to the contrary, the Partnership agrees not to make any modifications
to its registration statement or adopt any policies which would affect materially
the obligations or responsibilities of PFPC hereunder without prior written notice
to PFPC.
	 
	 	(b)	 	Captions. The captions in this Agreement are included for convenience
of reference only and in no way define or delimit any of the provisions hereof or
otherwise affect their construction or effect.
	 
	 	(d)	 	Information. The Partnership will provide such information and
documentation as PFPC may reasonably request in connection with
services provided by PFPC to the Partnership.
	 
	 	(e)	 	Governing Law. This Agreement shall be deemed to be a contract made
in
Delaware and governed by Delaware law without regard to principles of
conflict of law.
	 
	 	(f)	 	Partial Invalidity. If any provision of this Agreement shall be held or
made invalid




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	 	 	 	by a court decision, statute, rule or otherwise, the remainder of this Agreement shall not
be affected thereby.






	 	(g)	 	Successors and Assigns. This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto and their respective successors and permitted assigns.
	 
	 	(h)	 	No Representations or Warranties. Except as expressly provided in this Agreement,
PFPC hereby disclaims all representations and warranties, express or implied, made to the
Partnership or any other person, including, without limitation, any warranties regarding
quality, suitability, merchantability, fitness for a particular purpose or otherwise
(irrespective of any course of dealing, custom or usage of trade), of any services or any
goods provided incidental to services provided under this Agreement. PFPC disclaims any
warranty of title or non-infringement except as otherwise set forth in this Agreement.
	 
	 	(i)	 	Facsimile Signatures. The facsimile signature of any party to this Agreement shall
constitute the valid and binding execution hereof by such party.
	 
	 	(j)	 	Customer Identification Program Notice. To help the U.S. government fight the funding
of terrorism and money laundering activities, U.S. Federal law requires each financial
institution to obtain, verify, and record certain information that identifies each person who
initially opens an account with that financial institution on or after October 1, 2003.
Certain of PFPC’s affiliates are financial institutions, and PFPC may, as a matter of policy,
request (or may have already requested) the Partnership’s name, address and taxpayer
identification number or other government-issued identification number, and, if such party is
a natural




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	 	 	 	person, that party’s date of birth. PFPC may also ask (and may have already asked)
for additional identifying information, and PFPC may take steps (and may have
already taken steps) to verify the authenticity and accuracy of these data elements,






	 	 	IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day
and year first above written.





	 	 	 	 	 
	 	 	PFPC INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Jeanne Grant
	 
	 	 	 	 
	 

	 	Title:
	 	Vice President
	 
	 	 	 	 
	 	 	QUADRIGA SUPERFUND, LP.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Dr. Entzmann
	 
	 	 	 	 
	 

	 	Title:
	 	Vice President






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January 12, 2005




QUADRIGA SUPERFUND, LP.





			
	      Re:	 	Administration, Accounting and Investor Services Fees





Dear Sir/Madam:




     This letter constitutes our agreement with respect to compensation to be paid to PFPC Inc.
(“PFPC”) under the terms of an Administration, Accounting and Investor Services
Agreement (“Agreement”) dated January  , 2005 between PFPC and QUADRIGA

SUPERFUND LP. (the “Partnership”) as amended from time to time for services provided on behalf of
the Partnership. Pursuant to Paragraph 11 of the Agreement, and in consideration of the services
to be provided to the Partnership, the Partnership will pay PFPC an annual administration,
accounting and investor services fee to be paid monthly as set forth below.




	A.	 	Administration and Accounting Services






	 	1.	 	Asset Based Fees:
	 
	 	 	 	The following annual fee will be calculated based upon the Partnership’s beginning
of month net assets and paid monthly:
	 
	 	 	 	.075%% of the Partnership’s first $200 million of beginning of month net assets;
	 
	 	 	 	.055% of the Partnership’s next $200 million of
beginning of month net assets; and
	 
	 	 	 	.040% of the Partnership’s beginning of month net assets in excess of $400 million.
	 
	 	 	 	The cost of PFPC’s preparing financial statements with related footnotes for
inclusion in the filing of Forms 10Q and 10K is included in the annual fee.
	 
	 	2.	 	Minimum Monthly Fee:
	 
	 	 	 	The minimum monthly fee shall be $5,000, exclusive of taxation services fees,
multiple class fees and out-of-pocket expenses.
	 
	 	3.	 	Monthly Multiple Class Fee:




 









 






	 	 	 	The monthly multiple class fee shall be $2,000 per class for each class beyond the
first.
	 
	 	4.	 	Taxation Services Fees:
	 
	 	 	 	An annual fee of $30,000 will be charged for the preparation and filing of the
Federal Form 1065 (including the related K-1s) and the return in the state in which
the Partnership is domiciled, plus $1,000 for each additional state or local return
that is required.
	 
	 	 	 	Fees quoted assume the use of the aggregate method of allocation of realized gains
and losses. Should the Partnership make a tax election under IRC Section 754,
additional fees will be assessed.
	 
	 	5.	 	Out-of-Pocket Expenses:
	 
	 	 	 	The Partnership will reimburse PFPC for out-of-pocket expenses incurred on the
Partnership’s behalf, including, but not limited to, postage, telephone, telex,
overnight express charges, bank charges, conversion and deconversion costs, cost of
access to PFPC’s data repository and analytics suite, cost of using financial
printer for automated financial statements, SAS 70 reporting costs (if applicable),
costs to obtain independent security market quotes, travel expenses incurred for
Board meeting attendance and multiple class fees, if applicable.






	B.	 	Investor Services






	 	1.	 	Investor Processing Fee:
	 
	 	 	 	$5.00 per investor per month.
	 
	 	2.	 	Out-of-Pocket Expenses include, but are not limited
to, telephone lines, forms, envelopes, checks and supplies, postage, overnight delivery, courier services,
mailgrams, hardware/phone lines for transmissions, remote terminals
(if
required), wire fees, record retention/storage, cost of annual K-l mailing,
negotiated time and material for development and programming costs including
web, statement and file development, customization of web fulfillment (if
applicable), customized research requests, remote access costs (passed through at
cost), conversion and deconversion expenses, bulk mailings and reproduction
costs, travel expenses, training expenses and expenses incurred at the direction of
each Partnership. Should the Partnership utilize escrow accounts at PNC Bank,
N.A., standard retail account charges would apply. Out-of-pocket expenses are
billed as they are incurred.










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	c.	 	Miscellaneous
	 
	 	 	After the one year anniversary of the effective date of the Agreement, PFPC may adjust
the fees described in this letter once per calendar year, upon thirty (30) days prior
written notice in an amount not to exceed the cumulative percentage increase in the
Consumer Price Index for All Urban Consumers (CPI-U) U.S. City Average, All items
(unadjusted) – (1982-84=100), published by the U.S. Department of Labor since the last such
adjustment in the Partnership’s monthly fees (or the effective date of the Agreement absent
such a prior adjustment).
	 
	 	 	Any fee or out-of-pocket expenses not paid within 30 days of the date of the original
invoice will be charged a late payment fee of 1% per month until payment of the fees are
received by PFPC.
	 
	 	 	The fee for the period from the date hereof until the end of that year shall be
prorated according to the proportion which such period bears to the full annual period,
with the exception of the Taxation Services Fee.





     If the foregoing accurately sets forth our agreement and you intend to be legally bound
thereby, please execute a copy of this letter and return it to us.



	 	 	 	 	 	 	 
	 	 	 	 	Very truly yours,
	 
	 	 	 	 	 	 
	 	 	 	 	PFPC INC.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Jeanne Grant
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Jeanne Grant
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Vice President
	 

	 	 	 	 	 	 
	Agreed and Accepted:	 	 	 	 
	 
	 	 	 	 	 	 
	QUADRIGA SUPERFUND, L.P.	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Gerhard Entzmann	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Name:

	 	Dr. Gerhard Entzmann	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Title:

	 	Vice President	 	 	 	 
	 

	 	 	 	 	 	 






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