exv10w13






EXHIBIT 10.13




THE CAMPBELL GLOBAL TREND FUND, L.P. — GLOBAL TREND SERIES (USD)

THE CAMPBELL GLOBAL TREND FUND, L.P. — GLOBAL TREND SERIES (GLD)




ESCROW AGREEMENT



     This Escrow Agreement is made and entered into as of March 23, 2010, by and among PNC Bank,
National Association as escrow agent (“PNC Bank” or the “Escrow Agent”), The Campbell Global Trend
Fund, L.P. — Global Trend Series (USD) and The Campbell Global Trend Fund, L.P. — Global Trend
Series (GLD), each a legally separate and independent series of the Campbell Global Trend Fund,
L.P., a Delaware series limited partnership (the “Series”) and Campbell & Company, Inc., a Maryland
corporation, the trading advisor of each Series (“Campbell” or the “Advisor”).



     The parties agree that the assets of one Series will not be available to satisfy the
obligations of another Series.



     Pursuant to the duly filed Prospectus and all amendments thereto, each Series proposes to
offer for sale limited partnership interests in each Series (“Units”) to investors through various
Selling Agents. Each Series proposes to establish escrow accounts, listed on Schedule I, with the
Escrow Agent in which funds received from subscribers will be deposited pending completion of the
escrow period (“Escrow Account”).



     Commencing upon the execution of this Agreement, the Escrow Agent shall act as escrow agent
and agrees to receive, hold, deal with and disburse the proceeds from the sale of Units (the
“Proceeds”) and any other property at any time held by the Escrow Agent hereunder in accordance
with this Agreement.



     All Proceeds of subscriptions for Units of the applicable Series shall be deposited in an
escrow account established by the Escrow Agent on behalf of the Series. All Proceeds shall be
denominated in U.S. dollars and deposited in the Escrow Account by check or wire transfer, duly
made out to “The Campbell Global Trend Fund, L.P. — Global Trend Series (USD) Escrow Account” or
“The Campbell Global Trend Fund, L.P. — Global Trend Series (GLD) Escrow Account,” as applicable.
The Escrow Agent shall promptly notify Campbell of any discrepancy between the amounts set forth on
any statement delivered by Campbell and the sum or sums delivered therewith to the Escrow Agent.
In the event that any checks or other instruments deposited in the Escrow Account prove
uncollectible, the Escrow Agent shall promptly notify Campbell and forward such checks or other
instruments to Campbell.



     During the Initial Offering Period, as defined in the Prospectus, Campbell shall deliver to
all prospective subscribers interim receipts for the amount of the Proceeds deposited in the Escrow
Account, reciting the substance of this Agreement.



     The Escrow Agent, is hereby directed to hold, deal with and dispose of the Proceeds and any
other property at any time held by the Escrow Agent hereunder in the following manner, subject,
however, to the terms of this Agreement.



 









 






	 	1.	 	Proceeds of subscriptions will be deposited and held in the Escrow Account
during the Initial Offering Period until the minimum subscription amount has been met
for that Series and during the Continuous Offering Period until each month-end, or
otherwise agreed upon period, at which time the sums accumulated in the Escrow Account
shall be delivered by the Escrow Agent pursuant to the Advisor’s written instruction
setting forth the date for such payment.
	 
	 	2.	 	Prior to the delivery, if any, of the escrowed funds to the applicable Series,
the Series shall have no title to nor interest in the funds on deposit, and such funds
shall under no circumstances be subject to the liabilities or indebtedness of the
Series.
	 
	 	3.	 	The Escrow Agent shall cause all funds deposited with the Escrow Agent pursuant
to this Agreement to be maintained and invested as the Advisor may from time to time
direct in PNC Bank certificates of deposit, savings or money market accounts, in
compliance with the Rule 15c2-4 under the Securities Exchange Act of 1934 (the
“Exchange Act”), as elaborated upon by the Securities and Exchange Commission in the
National Association of Securities Dealers, Inc. Notice to Members 84-7, so that such
funds can be readily liquidated so that 100% of the funds so deposited can be returned
to the person entitled thereto under the circumstances described above or below. If
the deposit into the Escrow Account is made by Federal Funds wire transfer, the Escrow
Agent shall invest the funds deposited on the same day as deposited, provided that such
deposit is received by 5 p.m. New York City time. If the deposit into the Escrow
Account is made by Federal Funds wire transfer and received by the Escrow Agent after
5:00 p.m. New York City time, the Escrow Agent shall invest the funds deposited on the
next business day. If the deposit into the Escrow Account is made by automated
clearinghouse or check, the Escrow Agent shall invest the funds deposited on the next
business day following collection. The Escrow Agent will incur no liability for any
loss suffered so long as the Escrow Agent follows such direction, subject to the
standard of liability set forth below. Whether or not subscriptions are accepted and
Units are sold, or subscriptions are returned and no Units are sold, the Advisor shall
pay the Escrow Agent fees as set forth in Schedule I hereto for the Escrow Agent’s
services as Escrow Agent. The Escrow Agent agrees that it shall have no right against
either Series with respect thereto.
	 
	 	4.	 	During the Initial Offering Period, as defined in the Prospectus, Proceeds
deposited into the Escrow Account will earn interest, which will either be paid to
subscribers in the form of additional Units or will be returned in cash to those
subscribers whose applications are rejected. During the Initial Offering Period, PNC
Bank will calculate accrued interest by subscriber to a Series and Campbell will
confirm subscriber names, dates and subscription amounts.
	 
	 	5.	 	During the Continuous Offering Period, as defined in the Prospectus, interest
earned on funds attributable to accepted subscriptions while held in the Escrow Account
shall be allocated by the Escrow Agent to the appropriate Series and Class and not to
any individual subscriber. During the Continuous Offering, the





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	 	 	 	Advisor will calculate and distribute accrued interest in accordance with the
Prospectus.
	 
	 	6.	 	The parties understand and agree that per the Prospectus, one Series may “break
escrow” upon receipt of the subscription minimum in an Escrow Account and enter its
Continuous Offering Period prior to the other.
	 
	 	7.	 	The Advisor is authorized to notify the Escrow Agent that a subscription
agreement of a subscriber has not been accepted by the Advisor and to direct the Escrow
Agent to return any funds held in the Escrow Account for the benefit of such subscriber
directly to such subscriber. If funds shall be returned to subscribers, the Escrow
Agent shall do so to the same source from which the subscription funds were received.





     All documents, including any instrument necessary for the negotiation or other transfer of
escrow assets deposited simultaneously with the execution of this Agreement are approved by the
parties thereto, other than the Escrow Agent. The Escrow Agent shall not be obliged to inquire as
to the form, manner of execution or validity of these documents or any document hereafter deposited
or delivered to the Escrow Agent pursuant to the provisions hereof, and the Escrow Agent shall be
entitled to rely on each document received and reasonably believed by it to be genuine, nor shall
the Escrow Agent be obliged to inquire as to the identity, authority or rights of the persons
executing the same.



     The Escrow Agent shall be liable under this Agreement only for its failure to exercise due
care in the performance of its duties expressly set forth herein.



     In the case of conflicting demands upon the Escrow Agent, the Escrow Agent may withhold
performance of this Agreement until such time as said conflicting demands shall have been withdrawn
or the rights of the respective parties shall have been settled by court adjudication, arbitration,
joint order or otherwise.



     Any notice which the Escrow Agent or the Advisor is required or desires to give hereunder
(other than operational notices described below) to the other party shall be in writing and may be
given by mailing the same to the appropriate address of the other party (or to such other address
as may have theretofore substituted by written notification), by registered or first class mail,
postage prepaid. For all purposes hereof any notice so mailed shall be as effectual as though
served upon the person of the undersigned to whom it was mailed at the time it is deposited in the
United States mail by the Escrow Agent whether or not such undersigned thereafter actually received
such notice. Operational notices shall be directed to Campbell’s Fund Administration Department or
to PNC Bank’s Commercial Banking Department, as appropriate, and shall be in writing, including but
not limited to electronic mail and facsimile, as set forth in Schedule II hereto.



     Whenever under the terms hereof the time for giving a notice of performing an act falls upon a
Saturday, Sunday or bank holiday, such time shall be extended to the Escrow Agent’s next business
day.



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     The Escrow Agent’s duties and responsibilities shall be limited to those expressly set forth
in this Escrow Agreement and the Escrow Agent shall not be subject to, or obligated to recognize,
any other agreement between or direction or instruction of, any or all of the parties hereto even
though reference thereto may be made herein; provided, however, with the Escrow Agent’s written
consent, this Escrow Agreement may be amended at any time or times by an instrument in writing
signed by all of the then parties in interest.



     If any property subject hereto is at any time attached, garnished or levied upon, under any
court order, or in case the payment, assignment, transfer, conveyance or delivery of any such
property shall be stayed or enjoined by any court order or in case an order, judgment or decree
shall be made or entered by any court affecting such property, or any part thereof, then in any of
such events, the Escrow Agent is authorized, in its sole discretion, to rely upon and comply with
any such order, writ, judgment or decree, which it is advised by legal counsel of its own choosing
is binding upon it, and if it complies with any such order, writ, judgment or decree, it shall not
be liable to any of the parties hereto or to any other person, firm or corporation by reason of
such compliance, even though such order, writ, judgment or decree may be subsequently reversed,
modified, annulled, set aside or vacated.



     This Agreement shall be construed, enforced and administered in accordance with the laws of
the State of Delaware.



     The Advisor may remove the Escrow Agent at any time (with or without cause) by giving at least
15 days written notice thereof. Within 10 days after giving such notice, the Advisor shall appoint
a successor escrow agent at which time the Escrow Agent shall either distribute the funds held in
the Escrow Account, its fees, costs and expenses or other obligations owed to the Escrow Agent
having been paid by Campbell, as directed by the instructions of the Advisor or hold such funds,
pending distribution, until all such fees, costs and expenses or other obligations are paid by
Campbell. If a successor escrow agent has not been appointed or has not accepted such appointment
by the end of the 10-day period, the Escrow Agent may appeal to a court of competent jurisdiction
for the appointment of a successor escrow agent, or for other appropriate relief and the costs,
expenses and reasonable attorneys fees which the Escrow Agent incurs in connection with such a
proceeding shall be paid by the appropriate Series.



     The Escrow Agent may resign by giving five days’ written notice by registered or first class
mail sent to the undersigned at their respective addresses herein set forth; and thereafter,
subject to the provisions of the third preceding paragraph hereof, shall deliver all remaining
deposits in said Escrow Account upon the written and signed order of the Advisor. If no such
notice is received by the Escrow Agent within thirty days after mailing such notice, the Escrow
Agent is unconditionally and irrevocably authorized and empowered to send any and all proceeds
deposited hereunder by registered mail to the respective subscribers thereof, or at its sole option
to deliver such deposited items to the respective depositors. If the Escrow Agent resigns,
reasonable fees and expenses of the Escrow Agent shall be paid by Campbell & Company.



     In the event funds transfer instructions are given (other than in writing at the time of
execution of this Agreement), whether in writing, by telecopier or otherwise, the Escrow Agent is
authorized to seek confirmation of such instructions by telephone call-back to the person or



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persons designated on Schedule II hereto, and the Escrow Agent may rely upon the confirmations
of anyone purporting to be the person or persons so designated. The persons and telephone numbers
for call-backs may be changed only in a writing actually received and acknowledged by the Escrow
Agent. The parties acknowledge that such security procedure is commercially reasonable.




     Neither this Agreement nor any right or interest hereunder may be assigned in whole or in part
without the prior consent of the other parties.



     This Agreement may be executed in one 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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	 	 	Dated at Baltimore, Maryland as of March 23, 2010





Parties to the Escrow Agreement



PNC BANK, NATIONAL ASSOCIATION




	 	 	 	 	 
	 	 	 
	By:  	/s/ Stephen D. Palmer
 	 
	 	Stephen D. Palmer 	 
	 	Senior Vice President 	 
	 


THE CAMPBELL GLOBAL TREND FUND, L.P. — Global Trend Series (USD)



By: ITS GENERAL PARTNER, CAMPBELL & COMPANY, INC.




	 	 	 	 	 
	 	 	 
	By:  	/s/ Thomas P. Lloyd
 	 
	 	Thomas P. Lloyd 	 
	 	General Counsel 	 
	 
	 	 	 
	By:  	/s/ Gregory T. Donovan
 	 
	 	Gregory T. Donovan 	 
	 	Chief Financial Officer 	 
	 


THE CAMPBELL GLOBAL TREND FUND, L.P. — Global Trend Series (GLD)



By: ITS GENERAL PARTNER, CAMPBELL & COMPANY, INC.




	 	 	 	 	 
	 	 	 
	By:  	/s/ Thomas P. Lloyd
 	 
	 	Thomas P. Lloyd 	 
	 	General Counsel 	 
	 
	 	 	 
	By:  	/s/ Gregory T. Donovan
 	 
	 	Gregory T. Donovan 	 
	 	Chief Financial Officer 	 
	 



CAMPBELL & COMPANY, INC.

as Trading Advisor to each Series




	 	 	 	 	 
	 	 	 
	By:  	/s/ Thomas P. Lloyd
 	 
	 	Thomas P. Lloyd 	 
	 	General Counsel 	 
	 
	 	 	 
	By:  	/s/ Gregory T. Donovan
 	 
	 	Gregory T. Donovan 	 
	 	Chief Financial Officer 	 



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Addresses for notices other than operational notices:



Campbell & Company, Inc.



2850 Quarry Lake Drive



Baltimore, Maryland 21209



PNC Bank, National Association



2 Hopkins Plaza, 21
st Floor



Baltimore, Maryland 21201







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Schedule I



PNC Bank agrees to act as Escrow Agent for The Campbell Global Trend Fund, L.P. — Global Trend
Series (USD and The Campbell Global Trend Fund, L.P. — Global Trend Series (GLD) for an annual fee
of $1,500.00 per account. The fee is subject to an annual review.



The following six escrow accounts will be established:



Campbell Global Trend Fund, L.P.—Global Trend Series (USD):     Account Number



Campbell Global Trend Fund, L.P. — Global Trend Series (USD) Class A 555-7245905



Campbell Global Trend Fund, L.P. — Global Trend Series (USD) Class B 555-7245913



Campbell Global Trend Fund, L.P. — Global Trend Series (USD) Class C 555-7245921



Campbell Global Trend Fund, L.P. — Global Trend Series (USD) Class D 555-7245948



Campbell Global Trend Fund , L.P. — Global Trend Series (GLD):



Campbell Global Trend Fund, L.P. — Global Trend Series (GLD) Class A 555-7245884



Campbell Global Trend Fund, L.P. — Global Trend Series (GLD) Class B 555-7245892








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     Schedule II


The Escrow Agent is instructed to fax or email operational notices to the following numbers and is
authorized to seek confirmation of instructions by telephone call-back to the following persons:




Paula Yocum — Fund Administration Manager (410-413-4523)

Jason Shumway — Fund Administration Assistant (410-413-2664)

Greg Donovan — Chief Financial Officer (410-413-2654)



FAX # 410-413-2764, 410-413-4623 and 410-413-2572



The Advisor is instructed to fax or email operational notices to the following numbers and is
authorized to seek confirmation of instructions by telephone call-back to the following persons:




Sandi Riffle — Administrative Assistant (410-237-5115)

Elsie Brown-Williams — Administrative Assistant (410-237-5369)

Stephen Palmer — Senior Vice President (410-237-5831)



FAX # 410-237-5703





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