Exhibit 10.4
 FORM OF SUBSCRIPTION AGREEMENT
 CGM Account No.:
 Please check here if employed by Morgan Stanley
Smith Barney LLC or an affiliate.
 Please check here if employed by Citigroup Global
Markets Inc. or an affiliate.
 WESTPORT JWH FUTURES FUND L.P.
  Subscription Agreement
 Selling Agent:
 Please check here if Morgan Stanley Smith Barney
LLC served as your selling agent.
 Please check here if Citigroup Global Markets Inc.
served as your selling agent.




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th th
 Westport JWH Futures Fund L.P.
  Subscription for Units
   Representations, Warranties and Covenants of Subscriber
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Acceptance of Limited Partnership Agreement and Power of Attorney
  4




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Indemnification
 Survival
 Miscellaneous
 Employee-Benefit Plans
 Either (a) or (b) primary basis and
 or and
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EXECUTION PAGE
 I. For Client Use:
 A.
    
    Subscription Amount:I hereby subscribe for $  (minimum $25,000; $10,000 for
current limited partners and Plans as defined in the Memorandum).
 B.
    
    Accreditation:Please select one of the following.
 Error!
Bookmark not defined.
 OR
  
 C.
    
    Benefit Plan Investor Status:The subscriber is ___or is not ___a Benefit Plan
Investor as defined in Section 7 above.
 D.
    
    New York Individual Investor or Trustee Status [FOR INDIVIDUAL INVESTORS ONLY]:Please select
one of the following.
  OR
  OR
  read and sign
 E.
    
    1. Representation:The foregoing statements are complete and accurate as of the date hereof
and may be relied upon by the General Partner. I further represent that I will notify the
General Partner immediately of any adverse change in any such information and will promptly
send the General Partner written confirmation thereof.
 2. Signature:If joint ownership, all parties must sign (if fiduciary, partnership or
corporation, indicate capacity of signatory under signature line).
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Signature
    
    
    
    SignatureTitle (if applicable)
    
    
    
    Title (if applicable)3. Date:
    
    
    
    
    
    Date:
 F.
    
    Please complete Registration Data on the next page.
  II. For Branch Use:
    
    
    III. For General Partners Use:The General Partners acceptance is conditioned
upon receiving an attestation from a Citigroup
Global Markets Inc. or Morgan Stanley Smith Barney
LLC (as indicated on the cover of this
Subscription Agreement) Branch Manager as to the
following:
The Branch Manager has received all documents
required to open this account and acknowledges the

suitability of this investment for the client. In
recommending the purchase of Units, the Branch
Manager, on behalf of Citigroup Global Markets
Inc. or Morgan Stanley Smith Barney LLC has
determined the suitability of the subscriber and
will maintain records containing the basis of the
suitability determination. Prior to executing the
purchase of Units, the Branch Manager, on behalf
of Citigroup Global Markets Inc. or Morgan Stanley
Smith Barney LLC has informed the subscriber of
facts relating to the liquidity and marketability
of the Units. If the account is a partnership or
trust, the Branch Manager acknowledges that he/she
has reviewed the partnership or trust documents
which allow investments in limited partnerships
whose principal business is in futures trading,
and that the anti-money laundering and
know-your-customer documentation for this
subscriber is complete.
    
    
    ACCEPTED:
CERES MANAGED
FUTURES LLCBy:Name:Title:
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Registration Data
 Name of Limited Partner
    
    
    
    Name of Joint Limited Partner (if any)(Please Print)
    
    
    
    (Please Print)(See Note 1 Below)Residence Street Address
    
    
    
    Mail Address (if different than(See Note 2 Below)
    
    
    
    Residence Address)City          State          Zip Code
    
    
    
    City          State          Zip CodeSocial Security orFederal Employer I.D.Number
    
    
    
    If Joint Ownership, check one:/ / Joint Tenants with right toCGM Account Number
    
    
    
    Survivorship (all parties must sign)Note 1: If subscriber is an ERISA
plan or account, please so indicate
(e.g.: XYZ Co. Pension Plan, Dr.
    
    
    
    / / Tenants in CommonA Keogh Account, Mr. B IRA Account).
    
    
    
    / / Community PropertyIf Fiduciary or Corporation, check one:Note 2: The address given above must
be the residence address of the Limited
Partner. Post Office boxes and other
nominee addresses will not be accepted.
    
    
    
    / / Trust / / Partnership
/ / Corporation
 
 For Branch Use
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EXHIBIT I
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EXHIBIT II
Prospective Purchaser Questionnaire
   o o
  o o
   Stocks
    
    
    
    
    
    Limited Partnership Interests:Bonds
    
    
    
    
    
    Real EstateMutual Funds
    
    
    
    
    
    Oil and GasCommodities
    
    
    
    
    
    EquipmentOptions
    
    
    
    
    
    Other (specify)
   must
  o o
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o o
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EXHIBIT II-1
 Questionnaire for Purchaser Representatives
 
  (THE INVESTOR).(Fill in name of investor)
   th th
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Name of Purchaser Representative:Name of Represented Investor:Your Business Address:Your Occupation:Your Bus. Tel. No.:
  o o
    o o
  ONE HIGHEST PLEASE DESCRIBE IN DETAIL
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PLEASE EXPLAIN IN DETAIL YOUR EDUCATIONAL BACKGROUND AND LIST DATES OF
ATTENDANCE AND NAMES OF SCHOOLS
   o o
  o o
  o o
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i.e.
 o o
 NOTE: YOU MAY NOT RELY ON AN ADDITIONAL PURCHASER REPRESENTATIVE UNLESS EACH ADDITIONAL
PURCHASER REPRESENTATIVE HAS COMPLETED A QUESTIONNAIRE AND HAS BEEN ACKNOWLEDGED BY THE INVESTOR TO
BE HIS PURCHASER REPRESENTATIVE.
  o o
  o o
  1
 
 1
    
    The term affiliate of a person means a person
that directly or indirectly, through one or more intermediaries, controls,
or is controlled by, or is under common control with such person. 16




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i.e o o
  o o
  o o
 NOTE: THE RECEIPT OF ANY SALES COMMISSION WITH RESPECT TO THE INVESTORS PURCHASE OF UNITS
CONSTITUTES COMPENSATION TO BE RECEIVED AS A RESULT OF A MATERIAL RELATIONSHIP.
  in writing
 o o
  o o
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(Signature)(Print Name) 18




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EXHIBIT III
 
 NEW YORK STATE LIMITED POWER OF ATTORNEY
 THIS DOCUMENT MUST BE NOTARIZED
  Subscriber section (to be completed by the Subscriber and notarized)
 
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PRINCIPAL signs here: ==>STATE OF NEW YORK
    
    )) ss.:COUNTY OF
    
    )
 
 Notary Public
 General Partner section (to be completed by the General Partner and notarized)
 
  
 STATE OF NEW YORK
    
    )) ss.:COUNTY OF
    
    )
 
 Notary Public
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NEW YORK LIMITED POWER OF ATTORNEY
CAUTIONARY LEGENDS
 The following disclosure is required to be included verbatim in all powers of attorney subject
to Title 15 of Article 5 of the New York State General Obligations Law:
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