exv10w3






EXHIBIT 10.3



The
Global Trend Series (USD), a series of Campbell Global Trend Fund,
L.P.









 






Futures
Account Agreement






 









 







Thank you for your interest in opening a futures trading account with Newedge USA, LLC



This package includes the agreements and forms necessary to establish a futures trading account as
well as certain documentation which may, at your discretion, be completed by you to allow specific
types of trading activities. Included is a set of Disclosure Statements required by different
exchanges and regulators for certain types of activities. You should review these statements to
understand some of the risks of trading and be aware of how your rights in certain markets might be
limited. These Statements should be kept by you and copies should be distributed to the relevant
parties within your organization.



In addition to the attached documents, specific legal and financial information may be required
from you prior to approving a new account.



Employees of banks and brokerage firms will be asked to submit an Employee Consent Letter.



If your account will be traded by a party other than yourself under a Power of Attorney, additional
documentation will be required prior to the start of trading.



Hedge clients must be sure to complete the Hedge Election section on page 15 of the Futures Account
Agreement.




Encl: Futures
Account Agreement



          
Newedge USA, LLC Disclosure Documents




 









 





NEWEDGE USA, LLC

FUTURES ACCOUNT AGREEMENT



In consideration of the acceptance by Newedge USA, LLC (“Newedge”) of one or more accounts of the
undersigned (“Customer”) (if more than one account is at any time opened or reopened with Newedge,
all are covered by this Agreement and are referred to individually and collectively as the
“Account”), and Newedge’s agreement to act as broker, directly or indirectly, or as dealer, for the
execution, clearance and/or carrying of transactions for the purchase and sale of commodity
interests, including commodities, spot and forward contracts, commodity futures contracts, options
on commodity futures contracts, security futures product contracts, and transactions involving the
exchange of futures for cash commodities or the exchange of futures in connection with cash
commodity transactions, Newedge and Customer agree as follows:





	1	 	APPLICABLE RULES AND REGULATIONS
	 
	 	 	The Account and each transaction therein shall be subject to the terms of this Agreement and to (a)
all applicable laws and the regulations, rules and orders (collectively “regulations”) of all
regulatory and self-regulatory organizations having jurisdiction and (b) the constitution, by-laws,
rules, regulations, orders, resolutions, interpretations and customs and usages (collectively
“rules”) of the market and any associated clearing organization or clearing house (each an
“exchange”) on or subject to the rules of which such transaction is executed and/or cleared. The
reference in the preceding sentence to exchange rules is solely for Newedge’s protection and
Newedge’s failure to comply therewith shall not constitute a breach of this Agreement or relieve
Customer of any obligation or responsibility under this Agreement. Newedge shall not be liable to
Customer as a result of any action or omission by Newedge, its officers, directors, employees or
agents to comply with any exchange rule.
	 
	2	 	PAYMENTS TO NEWEDGE
	 
	 	 	Customer agrees to pay to Newedge immediately on request (a) commissions, give-up charges, fees and
service charges as are in effect from time to time for the Customer, together with all applicable
regulatory and self-regulatory organization and exchange fees, charges, including all such fees,
charges or costs assessed against Newedge with respect to any equity securities of Customer
deposited for margin obligations, and taxes; (b) the amount of any debit balance or any other
liability that may result from transactions executed for the Account; and (c) interest on such
debit balance or liability at the prevailing rate charged by Newedge at the time such debit balance
or liability arises and service charges on any such debit balance or liability together with any
reasonable attorneys’ fees and costs incurred in collecting any such debit balance or liability.
Customer understands that most of the payment obligations enumerated in subsection (a) above are
automatically charged against its Account after each transaction. Customer acknowledges that
Newedge may charge commissions at other rates to other customers.
	 
	3	 	CUSTOMER’S DUTY TO MAINTAIN ADEQUATE MARGIN
	 
	 	 	Customer shall at all times maintain adequate margin (also
known as “performance bond”) in the
Account so as continually to meet the original and maintenance margin requirements established by
Newedge for Customer. Newedge may change such requirements from time to time at Newedge’s
discretion upon notice to Customer. Such margin requirements may exceed the margin requirements set
by any exchange or other regulatory authority and may vary from Newedge’s requirements for other
customers.






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	 	 	Customer agrees, when so requested, orally or by written notice, on the business day it is
received, unless sooner required by Newedge for an intraday requirement, to wire transfer (by the
Fed wire system to the account of Newedge) margin funds, and to furnish Newedge with names of bank
officers for immediate verification of such transfers. Customer acknowledges and agrees that
Newedge may receive and retain as its own any interest, increment, profit, gain or benefit,
directly or indirectly, accruing from any of the funds Newedge receives from Customer
	 
	4	 	DELIVERY; OPTION EXERCISE, ASSIGNMENT AND EXPIRATION






	 	A.	 	Delivery. If Customer desires to make or take delivery under a commodity interest
contract, Customer agrees to give Newedge timely notice of such intent for open positions
maturing in a current delivery month according to applicable rules and regulations of the
exchange or clearing house and Newedge’s instructions. Sufficient funds to take delivery
or the necessary delivery documents must be delivered by Customer to Newedge according to
Newedge’s instructions. If funds, documents or Customer’s intentions with respect to
delivery are not received, Newedge may, without notice, either liquidate Customer’s
position or make or receive delivery on behalf of Customer upon such terms and by such
methods as Newedge reasonably determines. Customer understands that Newedge may, upon
prior notice to Customer, establish cut-off times for timely notification that may be
earlier than the times established by the applicable rules and regulations of the
exchanges or clearing houses to ensure that Newedge complies with such rules and
regulations. If Customer desires to make or take delivery of a security futures product,
Customer agrees to open a securities account pursuant to Newedge’s Securities and Options
Account Agreement to effect such delivery.
	 
	 	 	 	If, at any time, Customer fails to deliver to Newedge any property previously sold by Newedge on
Customer’s behalf in compliance with commodity interest contracts, or Newedge shall deem it
necessary (whether by reason of the requirements of any exchange, clearing house or otherwise) to
replace any securities, commodity interest contracts, financial instruments, or other property
previously delivered by Newedge for the Account of Customer with other property of like or
equivalent kind or amount, Customer hereby authorizes Newedge to borrow or to buy any property
necessary to make delivery thereof, or to replace any such property previously delivered, or to
deliver the same to such other party or to whom delivery is to be made. Newedge may subsequently
repay any borrowing or purchase thereof with property purchased or otherwise acquired for the
Account of Customer. Customer shall pay Newedge for any actual costs, losses and damages from the
foregoing, including, but not limited to, consequential damages, penalties and fines that Newedge
may incur or that Newedge may sustain from its inability to borrow or buy any such property.
	 
	 	B.	 	Option Exercise, Assignment and Expiration. Customer agrees to give Newedge timely
notice if Customer intends to exercise or abandon an option contract according to the
rules and regulations of the exchanges or clearing houses. Customer understands that most
exchanges and clearing houses have established cut-off times for the tender of exercise or
abandonment instructions, and that an option will become worthless if instructions are not
delivered before such expiration time. Customer also understands that certain exchanges
and clearing houses will automatically exercise some “in-the-money” options unless
instructed otherwise. Customer acknowledges full responsibility for taking action either
to exercise or to prevent the exercise of an option contract, as the case may be, and





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	 	 	 	Newedge is not required to take any action with respect to an option contract, including without
limitation any action to exercise an option prior to its expiration date, or to prevent the
automatic exercise of an option, except upon Customer’s express instructions. Customer further
understands that Newedge may, upon prior notice to Customer, establish exercise instruction cut-off
times that may be earlier than the times established by the applicable rules and regulations of the
exchanges and clearing houses to ensure that Newedge complies with such rules and regulations.
	 
	 	 	 	Customer understands that (a) all short option positions are subject to assignment at any time,
including positions established on the same day that exercises are assigned, and (b) exercised
assignment notices are allocated in a manner that has been approved by the applicable exchange or
clearing house from among all Newedge customers’ short options positions that are subject to
assignment.






	5	 	FOREIGN CURRENCY
	 
	 	 	If Newedge enters into any transaction for Customer effected in a currency other than U.S. dollars:
(a) any profit or loss caused by changes in the rate of exchange for such currency shall be for
Customer’s Account and risk and (b) unless another currency is designated in Newedge’s confirmation
of such transaction, all margin for such transaction and the profit or loss on the liquidation of
such transaction shall be in U.S. dollars at a rate of exchange determined by Newedge on the basis
of then prevailing market rates of exchange for such foreign currency.
	 
	6	 	NEWEDGE MAY LIMIT POSITIONS HELD
	 
	 	 	Customer agrees that Newedge, upon notice to Customer, may limit the number of open positions (net
or gross) that Customer may execute, clear and/or carry with or acquire through it. Customer agrees
(a) not to make any trade that would have the effect of exceeding such limits, (b) that Newedge may
require Customer to reduce open positions carried with Newedge and (c) that Newedge may refuse to
accept orders to establish new positions. Newedge may impose and enforce such limits, reduction or
refusal whether or not they are required by applicable law, regulations or rules. Customer shall
comply with all position limits established by any regulatory or self-regulatory organization or
any exchange. In addition, Customer agrees to notify Newedge promptly if Customer is required to
file position reports with any regulatory or self-regulatory organization or with any exchange.
	 
	7	 	NO WARRANTY AS TO INFORMATION OR RECOMMENDATION


Customer acknowledges that:
	 
	 	 	 






	 	(a)	 	Any market recommendations and information Newedge may communicate to Customer, although based
upon information obtained from sources believed by Newedge to be reliable, may be incomplete and
not subject to verification;
	 
	 	(b)	 	Newedge makes no representation, warranty or guarantee as to, and shall not be responsible for,
the accuracy or completeness of any information or trading recommendation furnished to customer;
	 
	 	(c)	 	Recommendations to Customer as to any particular transaction at any given time may differ among
Newedge’s personnel due to diversity in analysis of fundamental and technical factors and may vary
from any standard recommendation made by Newedge in its research reports or otherwise; and






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	 	(d)	 	Newedge has no obligation or responsibility to update any market recommendations, research or
information it communicates to Customer.







	 
	 	

   Customer understands that Newedge and its officers, directors, affiliates, stockholders,
representatives or associated persons may have positions in and may intend to buy or sell commodity
interests that are the subject of market recommendations furnished to Customer, and that the market
positions of Newedge or any such officer, director, affiliate, stockholder, representative or
associated person may or may not be consistent with the recommendations furnished to Customer by
Newedge.






	8	 	LIMITS ON NEWEDGE DUTIES; LIABILITY

	 
	 	 	Customer agrees:






	 	(a)	 	That Newedge has no duty to apprise Customer of news or of the value of any commodity interests
or collateral pledged or in any way to advise Customer with respect to the market;
	 
	 	(b)	 	That the commissions, which Newedge receives, are consideration solely for the execution,
clearing, carrying and reporting of Customer’s trades;
	 
	 	(c)	 	If there is an Account Manager, an Account Manager’s Agreement for the Account Manager will be
provided to Newedge. The Account Manager specified therein is authorized to exercise discretion and
to act on behalf of Customer with respect to the Account.






	 	(1)	 	Account Manager is duly organized, empowered and authorized to make the representations set
forth in Section 17 hereof as if the Account Manager were substituted for the term Customer
therein.
	 
	 	(2)	 	Account Manager shall direct Customer to take such action in respect of the Account as is
required of Customer under this Agreement or under the rules and regulations.
	 
	 	(3)	 	Customer agrees that (1) Account Manager is authorized to act on Customer’s behalf with respect
to the Account, including the authority to select and authorize the payment of executing brokers,
and to receive and give communications, instructions and authorizations; and (2) any right of
Newedge arising in connection with this Agreement is enforceable against all of Customer’s assets,
notwithstanding that Account Manager may exercise discretion over less than all of the assets of
Customer.
	 
	 	(4)	 	Account Manager represents that it has provided to Customer and Customer represents it has
received: (1) a disclosure document concerning such Account Manager’s trading advice, including, in
the event the Account Manager will trade options, the options strategies to be utilized, or (2) a
written statement explaining why Account Manager is not required under applicable law to provide
such a disclosure document to Customer; and
	 
	 	(5)	 	Customer acknowledges, understands and agrees that (1) any communication, notice, report,
statement, advice or information given to Account Manager by






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	 	 	 	Newedge or received from Account Manager by Newedge in respect of the Account shall be deemed to
have been given to, or received from, Customer as the case may be; (2) any decision, instruction or
action of, or authorization by, Account Manager in respect of the Account shall be deemed to
constitute the decision, instruction, action or authorization of Customer; (3) Customer has
carefully examined the provision of the documents by which it has given trading authority or
control over the Account to the Account Manager and understands fully the obligations which it has
assumed by executing such document; (4) Newedge is in no way responsible for any loss to Customer
occasioned by the actions of the Account Manager and Newedge does not by implication or otherwise
endorse the operating methods or trading strategies or programs of the Account Manager; and (5)
Customer gives the Account Manager authority to exercise Customer’s rights over the Account, and
does so at its own risk.






	 	(d)	 	That Newedge or its shareholders, directors, officers, employees, agents, affiliates and
controlling persons shall have no liability for damages, claims, losses or expenses caused by any
errors, omissions or delays: (a) of sub-agents employed by Newedge, provided that Newedge has used
reasonable care in their selection; or (b) of Newedge itself, except those caused by Newedge’s
gross negligence or willful misconduct.






	9	 	EXTRAORDINARY EVENTS
	 
	 	 	Customer agrees that Newedge shall have no liability for damages, claims, losses or expenses caused
by any errors, omissions or delays resulting from an act, condition or cause beyond the reasonable
control of Newedge, including, but not limited to: war; insurrection; riot; strike; act of God;
fire; flood; extraordinary weather conditions; accident; action of government authority; action of
exchange, clearing house or clearing organization; communications or power failure; equipment or
software malfunction (including any electronic order routing or direct execution trading system or
facility); error, omission or delay in the report of transactions; prices, exchange rates or other
market or transaction information; or the insolvency, bankruptcy, receivership, liquidation or
other financial difficulty of any bank, clearing broker, exchange, market, clearing house or
clearing organization.
	 
	10	 	INDEMNIFICATION OF NEWEDGE, CONTRIBUTION AND REIMBURSEMENT






	 	(a)	 	To the extent permitted by law, Customer agrees to indemnify and hold harmless Newedge and its
shareholders, directors, officers, employees, agents, affiliates and controlling persons against
any liability for damages, claims, losses or expenses which they may incur as a result, directly or
indirectly of: (x) Customer’s violation of federal or state laws or regulations, or of rules of any
exchange or self-regulatory organization; (y) any other breach of this Agreement by Customer; or
(z) Customer’s failure to timely deliver any security, commodity or other property previously sold
by Newedge on Customer’s behalf. Such damages, claims, losses or expenses shall include reasonable
legal fees and all expenses, costs of settling claims, interest, and fines or penalties imposed by
the exchanges, self regulatory organization or governmental authority.
	 
	 	(b)	 	Customer agrees to reimburse Newedge and its shareholders, directors, officers, employees,
agents, affiliates and controlling persons on demand for any costs incurred in collecting any sums
Customer owes under this Agreement and any costs of successfully defending against claims asserted
against them by Customer.






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	11	 	NOTICES; TRANSMITTALS
	 
	 	 	Newedge shall transmit all communications to Customer at Customer’s address, facsimile or telephone
number set forth below or to such other address as Customer may hereafter direct in writing.
Customer shall transmit all communications to Newedge regarding this Agreement (except routine
inquiries concerning the Account) to 550 West Jackson Blvd., Suite 500, Chicago, Illinois
60661-5716; facsimile, (312) 762-1175, Attention: Legal Department. All payments and deliveries to
Newedge shall be made as instructed by Newedge from time to time and shall be deemed received only
when actually received by Newedge.
	 
	12	 	CONFIRMATION
	 
	 	 	All confirmations, correction notices and account statements (collectively, “Statements”) shall be
submitted to Customer and shall be deemed to be accurate unless the Customer notifies Newedge of
any objection thereto prior to the opening of trading on the contract market on which such
transaction occurred on the business day following the day on which Customer receives such
Statement; provided that with respect to monthly Statements, Customer may notify Newedge of any
objection thereto within three business days after receipt of such monthly Statement, provided the
objection could not have been raised at the time the prior Statement, e.g. confirmations and
correction notices, was received by the Customer as provided for above. Any such notice of
objection, if given orally, shall be confirmed promptly in writing by the Customer. Neither
Customer nor Newedge shall be bound by any transaction or price reported in error
	 
	13	 	SECURITY INTEREST
	 
	 	 	Customer hereby grants to Newedge a first lien upon and a security interest in any and all cash,
securities, whether certificated or uncertificated, security entitlements, investment property,
financial assets, foreign currencies, commodity interests, commodity accounts, commodity contracts
and other property (including securities and options) and the proceeds of all of the foregoing
(together the “Collateral”) belonging to Customer or in which Customer may have an interest, now or
in the future, and held by Newedge or in Newedge’s control or carried in any of Customer’s
Accounts, or in Customer’s accounts carried under other agreements with Newedge or its affiliates.
Such security interest is granted as security for the performance by Customer of its obligations
hereunder and for the payment of all loans and other liabilities which Customer has or may in the
future have to Newedge, whether under this Agreement or any other agreement between the parties
hereto. Customer agrees to execute such further instruments, documents, filings and agreements as
may be requested at any time by Newedge in order to perfect and maintain perfected the foregoing
lien and security interest. Newedge, in its discretion, may liquidate any Collateral to satisfy any
margin or Account deficiencies or to transfer the Collateral to the general ledger account of
Newedge. Terms defined in the Uniform Commercial Code, as enacted in the State of New York, shall
for purposes of this paragraph have the meanings set forth therein.
	 
	 	 	In the event that the provisions of Section 13, which relate to Collateral in any account carried
by Newedge for Customer other than an Account established hereunder, conflict with the agreement
under which such other account was established, such other agreement between Newedge and Customer
shall take precedence over the provisions of this Section 13.
	 
	14	 	TRANSFER OF FUNDS
	 
	 	 	At any time and from time to time, Newedge may transfer from one account to another account in
which Customer has any interest, such excess funds, equities, securities or other property as in
Newedge’s judgment may be required for margin, or to reduce any debit balance or to reduce or






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	 	 	satisfy any deficits in such other accounts except that no such transfer may be made from a
segregated account subject to the Commodity Exchange Act to another account maintained by Customer
unless either Customer has authorized such transfer in writing or Newedge is effecting such
transfer to enforce Newedge’s security interest pursuant to Section 13. Newedge promptly shall
confirm all transfers of funds made pursuant hereto to Customer in writing.
	 
	15	 	NEWEDGE’S RIGHT TO LIQUIDATE CUSTOMER POSITIONS
	 
	 	 	In addition to all other rights of Newedge set forth in this Agreement:






	 	(a)	 	When directed or required by a regulatory or self-regulatory organization or exchange having
jurisdiction over Newedge or the Account;
	 
	 	(b)	 	Whenever, in its discretion, Newedge considers it necessary for its protection because of
margin requirements or otherwise;
	 
	 	(c)	 	If Customer or any affiliate of Customer repudiates, violates, breaches or fails to perform on
a timely basis any term, covenant or condition on its part to be performed under this Agreement or
another agreement with Newedge or an affiliate of Newedge; and such repudiation, violation, breach,
or failure continues for (3) business days after notice thereof from Newedge or an affiliate of
Newedge, except that such grace period shall not be applied to a term, covenant, or condition that
relates to any financial obligations on Customer’s part, including, but not limited to, the payment
of margin or any delivery requirements;
	 
	 	(d)	 	If a case of bankruptcy is commenced or if a proceeding under any insolvency or other law for
the protection of creditors or for the appointment of a receiver, liquidator, trustee, conservator,
custodian or similar officer is filed by or against Customer or any affiliate of Customer or if
Customer or any affiliate of Customer makes or proposes to make any arrangement or composition for
the benefit of its creditors, or if Customer or (any such affiliate) or any or all of its property
is subject to any agreement, order, judgment or decree providing for Customer’s dissolution,
winding-up, liquidation, merger, consolidation, reorganization or for the appointment of a
receiver, liquidator, trustee, conservator, custodian or similar officer of Customer, such
affiliate or such property;
	 
	 	(e)	 	In the case of a natural person, Newedge is informed of Customer’s death or mental incapacity;
or
	 
	 	(f)	 	If an attachment or similar order is levied against the Account or any other account maintained
by a Customer or any affiliate of Customer with Newedge or an affiliate of Newedge;






	 	 	Newedge shall have the right to (i) satisfy any obligations due Newedge out of any Customer’s
property (also referred to as “Collateral”) in Newedge’s custody or control, (ii) liquidate any or
all of Customer’s commodity interest positions, such liquidation shall include transactions
involving the exchange of futures for cash commodities or the exchange of futures in connection
with cash commodity transactions (iii) cancel any or all of Customer’s outstanding orders, (iv)
treat any or all of Customer’s obligations due Newedge as immediately due and payable, (v) sell any
or all of Customer’s property in Newedge’s custody or control in such manner as Newedge determines
to be commercially reasonable, and/or (vi) terminate any or all of Newedge’s obligations for future






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	 	 	performance to Customer, all without any notice to or demand on Customer, if deemed necessary by
Newedge. Any action hereunder may be made in any commercially reasonable manner. Customer agrees
that a prior demand, call or notice shall not be considered a waiver of Newedge’s right to act
without demand or notice as herein provided, that Customer shall at all times be liable for the
payment of any debit balance owing in each Account upon demand whether occurring upon a liquidation
as provided under this Section 15 or otherwise under this Agreement, and that in all cases Customer
shall be liable for any deficiency remaining in each Account in the event of liquidation thereof in
whole or in part together with interest thereon and all costs relating to liquidation and
collection (including reasonable attorneys’ fees). In the event that the provisions of Section 15,
which relate to Collateral in any account carried by Newedge for Customer other than an Account
instituted hereunder, conflict with the agreement under which such other account was instituted,
such other agreement between Newedge and Customer shall take precedence over the provisions of this
Section 15.






	16	 	NEWEDGE’S RIGHT TO SET-OFF






	 	 	Any amount payable to Newedge by the Customer in the case where an event under Section 15
has occurred, will, at the option of Newedge, be reduced by its set-off against any amounts
payable by Newedge or any affiliate of Newedge to Customer under this Agreement or any other
agreement between Newedge or any affiliate of Newedge and Customer, or instrument or
undertaking in favor of Newedge or an affiliate of Newedge (the “Newedge payable amount”).
The Newedge payable amount will be discharged promptly and in all respects to the extent it
is so set-off. Newedge will give notice to Customer of any set-off effected under this
Section 16. If a Customer’s obligation to Newedge or an affiliate is unascertained, Newedge
may, in good faith, estimate that obligation and set off any amount owing by Newedge or any
affiliate to Customer on any account in respect of the estimate, which amount will be
revised when the obligation is ascertained. This Section and Section 15 shall be without
prejudice and in addition to any right of set-off, combination of accounts, lien or other
right to which Newedge is at any time otherwise entitled whether by operation of law,
contract or otherwise. For purposes of this Section and Section 15, an “affiliate” of
Newedge shall mean: Newedge Group, its direct or indirect parent company(ies) and all other
companies owned materially or controlled in substantial part by or affiliated with Newedge
Group and which bear the “Newedge” name, or their successors or assigns.






	17	 	CUSTOMER REPRESENTATIONS, WARRANTIES AND AGREEMENTS






	 	 	Customer represents and warrants to and agrees with Newedge that:






	 	(a)	 	Customer has full power and authority to enter into this Agreement and to
engage in the transactions and perform its obligations hereunder and contemplated
hereby, and:






	 	(1)	 	If Customer is a corporation or partnership, Customer represents
and warrants that (a) it is duly organized and in good standing under the laws of
the jurisdiction in which it is established and in every state in which it does
business; (b) is empowered to enter into and perform this Agreement and to
effectuate transactions in commodity interests, financial instruments and foreign
currency as contemplated hereby; and (c) no person or entity has any interest in
or control of the Account to which this Agreement pertains except as disclosed by
Customer to Newedge in writing.
	 
	 	(2)	 	If Customer is a trust, Customer represents and warrants that (a)
it is a duly formed and existing trust under the laws of the state of its
formation or such other laws as are applicable, including ERISA or similar state
law, and the party or parties 





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	 	 	 	designated as trustee or trustees by Customer to
Newedge in writing submitted herewith constitute the only or all of the proper
trustees thereof; (b) the trustee or trustees are empowered to enter into and
perform this Agreement and to effectuate transactions in commodity interests,
financial instruments, and foreign currency as contemplated hereby; (c) the
trustee or trustees make the representations set forth in Section 17 hereof as if
the term trustee(s) were substituted for the term Customer therein; and (d) no
person or entity has any interest in or control of the Account to which this
Agreement pertains except as disclosed by Customer to Newedge in writing.






	 	(b)	 	To the best of its knowledge, neither Customer nor any partner, director, officer, member,
manager or employee of Customer nor any affiliate of Customer is a partner, director, officer,
member, manager or employee of a futures commission merchant, introducing broker, bank,
broker-dealer, exchange or self-regulatory organization or an employee or commissioner of the
Commodity Futures Trading Commission (the “CFTC”), except as previously disclosed in writing
to Newedge.
	 
	 	(c)	 	To help the government fight the funding of terrorism and money-laundering activities, U.S.
Federal law requires Newedge to obtain, verify and record information that identifies each and
every person for which an account is opened by Newedge, whether that person is an individual,
association, partnership, corporation, trust or other entity.
	 
	 	 	 	Customer will furnish information and documentation as requested by Newedge so that Newedge
can verify Customer’s identity as required by U.S. Federal law. Any financial statements or
information, or identifying information and documentation furnished to Newedge are true,
correct and complete. Customer hereby authorizes Newedge to contact such banks, financial
institutions and credit agencies as Newedge shall deem appropriate for verification of such
financial statements or other information. Upon the Customer’s request, Newedge will inform
the Customer whether it has obtained credit reports, and if so, Newedge will inform the
Customer of the name and address of the reporting agency that furnished those reports.
	 
	 	 	 	Except as disclosed in writing, (i) Customer is not a commodity pool or is exempt from
registration under the rules of the CFTC, and (ii) Customer is acting solely as principal and
no one other than Customer has any interest in any Account of Customer.
	 
	 	(d)	 	Customer has determined that trading in commodity interests is appropriate for Customer, is
prudent in all respects and does not and will not violate Customer’s charter or by-laws (or
other comparable governing document) or any law, rule, regulation, judgment, decree, order or
agreement to which Customer or its property is subject or bound.
	 
	 	(e)	 	As required by CFTC regulations, Customer shall create, retain and produce upon request of
the applicable contract market, the CFTC or other regulatory authority documents (such as
contracts, confirmations, telex printouts, invoices and documents of title) with respect to
cash transactions underlying exchanges of futures for cash commodities or exchange of futures
in connection with cash commodity transactions.
	 
	 	(f)	 	Customer consents to the electronic recording, at Newedge’s discretion, of any or all
telephone conversations with Newedge (without automatic tone warning device), the use of 




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2009

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	 	 	 	same
as evidenced by either party in any action or proceeding arising out of the Agreement and in
Newedge’s erasure, at its discretion, of any recording as part of its regular procedure for
handling of recordings.






	 	(g)	 	Absent a separate written agreement between Customer and Newedge with respect to
give-ups, Newedge, in its discretion, may, but shall have no obligation to, accept from other
brokers commodity interest transactions executed by such brokers on an exchange for
Customer and proposed to be “given-up” to Newedge for clearance and/or carrying in the
Account.
	 
	 	(h)	 	Newedge, for and on behalf of Customer, is authorized and empowered to place orders for
commodity interest transactions through one or more electronic or automated trading or
order routing systems maintained or operated by or under the auspices of an exchange or
by Newedge, or any third party vendors, that Newedge shall not be liable or obligated to
Customer for any losses, claims, damages, liabilities, costs or expenses (including but not
limited to loss of profits, loss of use, direct or indirect incidental or consequential
damages)
incurred or sustained by Customer and arising in whole or in part, directly or indirectly,
from
any error, fault, failure, inadequate performance or nonperformance, delay, omission,
malfunction, inaccuracy or termination of an electronic trading system or order routing
system or Newedge’s inability to enter, cancel or modify an order on behalf of Customer on
or through an electronic trading system or order routing system. The provisions of this
Section 17(h) shall apply regardless of whether any customer claim arises in contract,
negligence, tort, strict liability, breach of fiduciary obligations or otherwise. This Section
17(h) does not effect Newedge’s obligations under Section 8(d) herein.
	 
	 	(i)	 	Newedge shall be entitled to rely on any instructions, notices and communications, whether
oral or in writing, that it reasonably believes to be from an individual authorized to act on
behalf of Customer, including, but not limited to, any individual(s) identified in writing by
Customer as authorized to act on its behalf, and Customer shall be bound thereby.
Customer hereby waives any defense that any such instruction was not in writing as may
be required by the relevant statutes or any other similar law, rule or regulation.
	 
	 	(j)	 	If Customer is subject to the Financial Institution Reform, Recovery and Enforcement Act of
1989, the certified resolutions set forth following this Agreement have been caused to be
reflected in the minutes of Customer’s Board of Directors (or other comparable governing body)
and this Agreement is and shall be, continuously from the date hereof, an official record of
Customer.
	 
	 	(k)	 	Customer is aware of and agrees to be bound by the rules of FINRA applicable to the trading
of security futures product contracts.
	 
	 	(l)	 	Customer is aware of and agrees not to violate applicable security futures product position
limits.
	 
	 	(m)	 	Customer acknowledges that Newedge has furnished it with a copy of the current Security
Futures Risk Disclosure Statement.




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	 	 	Customer agrees to promptly notify Newedge in writing if any of the warranties and
representations contained in this Section 17 become inaccurate or in any way cease to be
true, complete and correct.






	18	 	NEWEDGE’S REPRESENTATIONS AND WARRANTIES






	 	 	Newedge represents and warrants that:






	 	(a)	 	Newedge is registered as a futures commission merchant with the CFTC and is a
member of the National Futures Association.
	 
	 	(b)	 	Newedge has all requisite authority, whether arising under applicable federal
or state laws and rules and regulations, or the rules and regulations of any contract
market or other self-regulatory organization to which Newedge is subject, to enter into
this Agreement.
	 
	 	(c)	 	This Agreement does not violate any applicable law, any judgment, order or
agreement to which Newedge or any of its property is subject or by which it or its
property is bound.
	 
	 	(d)	 	This Agreement is a valid and binding agreement of Newedge enforceable against
Newedge in accordance with its terms and the person signing and delivering the
Agreement is duly authorized to do so on behalf of Newedge.






	19	 	SUCCESSORS AND ASSIGNS






	 	 	This Agreement shall inure to the benefit of Newedge, its successors and assigns, and shall
be binding upon Customer and Customer’s executors, trustees, administrators, successors and
assigns, provided, however, that this Agreement is not assignable by Customer without the
prior written consent of Newedge, which consent shall not be unreasonably withheld if such
assignment is approved in accordance with Newedge’s credit policies and procedures.






	20	 	MODIFICATION OF AGREEMENT; NON-WAIVER PROVISION






	 	 	This Agreement may only be altered, modified or amended by mutual written consent of the
parties. The rights and remedies conferred upon the parties shall be cumulative, and its
forbearance to take any remedial action available to it under this Agreement shall not waive
its right at any time or from time to time thereafter to take such action.






	21	 	SEVERABILITY






	 	 	If any term or provision hereof or the application thereto to any persons or circumstances
shall to any extent be contrary to any exchange, government or self-regulatory regulation or
contrary to any federal, state or local law or otherwise be invalid or unenforceable, the
remainder of this Agreement or the application of such term or provision to persons or
circumstances other than those as to which it is contrary, invalid or unenforceable, shall
not be affected thereby.






	22	 	CAPTIONS






	 	 	All captions used herein are for convenience only, are not a part of this Agreement, and are
not to be used in construing or interpreting any aspect of this Agreement.






	23	 	TERMINATION






	 	 	This Agreement shall continue in force until written notice of termination is given by
Customer or Newedge. Termination shall not relieve either party of any liability or
obligation incurred prior to 




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	 	 	such notice. Upon giving or receiving notice of termination,
Customer will promptly take all action necessary to transfer all open positions in each
Account to another futures commission merchant.






	24	 	ENTIRE AGREEMENT






	 	 	This Agreement constitutes the entire agreement between Customer and Newedge with respect to
the subject matter hereof and supersedes any prior agreements between the parties with
respect to such subject matter.






	25	 	GOVERNING LAW; CONSENT TO JURISDICTION






	 	(a)	 	In case of a dispute between Customer and Newedge arising out of or relating to
the making or performance of this Agreement or any transaction pursuant to this
Agreement (i) this Agreement and its enforcement shall be governed by the laws of the
State of New York without regard to principles of conflicts of laws, and (ii) Customer
hereby consents in any legal proceeding by Newedge to the jurisdiction of, any state or
federal court located within the Borough of Manhattan in New York City in connection
with legal proceedings arising directly, indirectly or otherwise in connection with,
out of, related to or from Customer’s Account, transactions contemplated by this
Agreement or the breach thereof. Customer hereby waives all objections Customer, at any
time, may have as to the propriety of the court in which any such legal proceedings may
be commenced. Customer also agrees that any service of process mailed to Customer at
any address specified to Newedge shall be deemed a proper service of process on the
undersigned.
	 
	 	(b)	 	Notwithstanding the provisions of Section 25(a)(ii), Customer may elect at this
time to have all disputes described in this Section resolved by arbitration. To make
such election, Customer must sign the Arbitration Agreement set forth in Section 26.
Notwithstanding such election, any question relating to whether Customer or Newedge has
commenced an arbitration proceeding in a timely manner, whether a dispute is within the
scope of the Arbitration Agreement or whether a party (other than Customer or Newedge)
has consented to arbitration and all proceedings to compel arbitration shall be
determined by a court as specified in Section 25(a)(ii).






	26	 	ARBITRATION AGREEMENT (OPTIONAL)






	 	 	Every dispute between Customer and Newedge arising out of or relating to the making or
performance of this Agreement or any transaction pursuant to this Agreement, shall be
settled by arbitration in accordance with the rules, then in effect, of the National Futures
Association, the contract market upon which the transaction giving rise to the claim was
executed, or the National Association of Securities Dealers as Customer may elect. If
Customer does not make such election by registered mail addressed to Newedge USA, LLC at 550
West Jackson Blvd., Suite 500, Chicago, Illinois 60661-5716, Attention: Legal Department,
within 45 days after demand by Newedge that the Customer make such election, then Newedge
may make such election. Newedge agrees to pay any incremental fees which may be assessed by
a qualified forum for making available a “mixed panel” of arbitrators, unless the
arbitrators determine that Customer has acted in bad faith in initiating or conducting the
proceedings. Judgment upon any award rendered by the arbitrators may be entered in any court
having jurisdiction thereof.





     THREE FORUMS EXIST FOR THE RESOLUTION OF COMMODITY DISPUTES: CIVIL COURT LITIGATION,
REPARATIONS AT THE COMMODITY FUTURES TRADING COMMISSION (“CFTC”)


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AND ARBITRATION CONDUCTED BY A SELF-REGULATORY OR OTHER PRIVATE ORGANIZATION.




     THE CFTC RECOGNIZES THAT THE OPPORTUNITY TO SETTLE DISPUTES BY ARBITRATION MAY IN SOME CASES
PROVIDE MANY BENEFITS TO CUSTOMERS, INCLUDING THE ABILITY TO OBTAIN AN EXPEDITIOUS AND FINAL
RESOLUTION OF DISPUTES WITHOUT INCURRING SUBSTANTIAL COSTS. THE CFTC REQUIRES, HOWEVER, THAT EACH
CUSTOMER INDIVIDUALLY EXAMINE THE RELATIVE MERITS OF ARBITRATION AND THAT YOUR CONSENT TO THIS
ARBITRATION AGREEMENT BE VOLUNTARY.



     BY SIGNING THIS AGREEMENT, YOU (1) MAY BE WAIVING YOUR RIGHT TO SUE IN A COURT OF LAW AND (2)
ARE AGREEING TO BE BOUND BY ARBITRATION OF ANY CLAIMS OR COUNTERCLAIMS WHICH YOU OR NEWEDGE MAY
SUBMIT TO ARBITRATION UNDER THIS AGREEMENT. YOU ARE NOT, HOWEVER, WAIVING YOUR RIGHT TO ELECT
INSTEAD TO PETITION THE CFTC TO INSTITUTE REPARATIONS PROCEEDINGS UNDER SECTION 14 OF THE COMMODITY
EXCHANGE ACT WITH RESPECT TO ANY DISPUTE WHICH MAY BE ARBITRATED PURSUANT TO THIS AGREEMENT. IN THE
EVENT A DISPUTE ARISES, YOU WILL BE NOTIFIED IF NEWEDGE INTENDS TO
SUBMIT THE DISPUTE TO ARBITRATION. IF YOU BELIEVE A VIOLATION OF THE COMMODITY EXCHANGE ACT IS
INVOLVED AND IF YOU PREFER TO REQUEST A SECTION 14 “REPARATIONS” PROCEEDINGS BEFORE THE CFTC, YOU
WILL HAVE 45 DAYS FROM THE DATE OF SUCH NOTICE IN WHICH TO MAKE THAT ELECTION.



     YOU NEED NOT AGREE TO THIS ARBITRATION AGREEMENT TO OPEN AN ACCOUNT WITH NEWEDGE.


See 17 CFR 166.5.



Acceptance of this arbitration agreement requires a separate signature on page 15.





	27	 	CONSENT TO TAKE THE OTHER SIDE OF ORDERS (OPTIONAL)
	 
	 	 	Without its prior notice, Customer agrees that when Newedge executes sell or buy orders on
Customer’s behalf, Newedge, its directors, officers, employees, agents, affiliates, and any
floor broker may take the other side of Customer’s transaction through any Account of such
person subject to its being executed at prevailing prices in accordance with and subject to
the limitations and conditions, if any, contained in applicable rules and regulations.
	 
	28	 	AUTHORIZATION TO TRANSFER FUNDS (OPTIONAL)
	 
	 	 	Without limiting other provisions herein, Newedge is authorized to transfer from any
segregated account subject to the Commodity Exchange Act carried by Newedge for the Customer
to any other account carried by Newedge for the Customer such amount of excess funds as in
Newedge’s judgment may be necessary at any time to avoid a margin call or to reduce a debit
balance in said account. It is understood that Newedge will confirm in writing each such
transfer of funds made pursuant to this authorization within a reasonable time after such
transfer.
	 
	29	 	TRANSMISSION OF STATEMENTS (CUSTOMER TO ELECT)
	 
	 	 	Customer may elect and consent until further notice to receive statements solely by
electronic means, including without limitation, by electronic mail or facsimile, and not by
mail. Customer shall not incur any costs or fees in connection with the receipt of such
statements by electronic transmission.
	 
	 	 	By subscribing to electronic document delivery, the Customer understands and agrees to the
following:




June 2009  

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	 	(a)	 	Customer has the right to receive daily and monthly statements by mail or electronically or a
combination thereof.
	 
	 	(b)	 	The Customer has the right to request and receive a written confirmation of a specific trade and/or
monthly statement, even if the Customer chooses to receive daily and monthly statements only by
electronic means.
	 
	 	(c)	 	The Customer will not receive any other notice regarding the delivery of electronic documents, and
the Customer takes sole responsibility for promptly notifying Newedge in the event that documents
fail to be properly delivered electronically.
	 
	 	(d)	 	The Customer may terminate the option to receive electronic document delivery at any time by
notifying Newedge in writing.




June 2009  


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OPTIONAL ELECTIONS/ACKNOWLEDGMENTS



The following provisions, which are set forth in this Agreement, need not be entered into to open the Account.
Customer agrees that by its signature or checking the box (þ) after each such
election below its optional elections are as follows:




	 	 	 	 	 

	A)

	 	ARBITRATION AGREEMENT: (Agreement Paragraph 26)	 	 
	 

	 	(must sign and date) [ILLEGIBLE]	 	 
	 
	 	 	 	 
	B)

	 	CONSENT TO TAKE THE OTHER SIDE OF ORDERS: (Agreement Paragraph 27)
	 	þ
	 
	 	 	 	 
	C)

	 	AUTHORIZATION TO TRANSFER FUNDS: (Agreement Paragraph 28)
	 	þ
	 
	 	 	 	 
	D)

	 	INSTRUCTIONS TO RECEIVE STATEMENTS: (Agreement Paragraph 29)	 	 







Customer must complete the following:




Customer, until further notice, elects delivery by electronic or facsimile or mail
transmission for each category or a combination thereof (check the appropriate box(es)):



	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Electronic	 	Facsimile	 	Mail
	Daily Statements
	 	 	þ	 	 	 	o	 	 	 	o	 
	(including confirmations and purchase and sale statements)
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Monthly Statements
	 	 	þ	 	 	 	o	 	 	 	o	 





E) HEDGE ELECTION





CUSTOMER WARRANTS, BY INITIALLING BELOW, THAT ITS TRANSACTIONS WILL BE BONA FIDE
HEDGING TRANSACTIONS, AS DEFINED BY CFTC REGULATION 1.3(Z).




HEDGE ELECTION                                         




PURSUANT TO CFTC REGULATION 190.06(d), CUSTOMER AGREES, WITH RESPECT TO HEDGING
TRANSACTIONS, THAT IN THE UNLIKELY EVENT OF THE NEWEDGE COMPANY’S BANKRUPTCY, CUSTOMER
PREFERS THAT THE TRUSTEE (PLEASE INITIAL CHOICE)




	 	1.	 	Liquidate all open contracts without first seeking instructions
from or on behalf of the Customer                     (Initial here)
	 
	 	2.	 	Attempt to obtain instructions with respect to the disposition
of all open contracts                     (Initial here)
	 
	 	 	 	If neither election is initialed, Customer shall be deemed to elect 2.










June 2009




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REQUIRED DISCLOSURE/ACKNOWLEDGMENT



The undersigned hereby acknowledges (by checking the box below þ) its separate receipt
from Newedge of the following documents, and its understanding of the following required
document prior to the opening of the Account:




     DISCLOSURE DOCUMENTS FOR FUTURES TRADING




	 	•	 	Risk Disclosure Statement for Futures and Options                      þ






	 	•	 	General Disclosures




REQUIRED CUSTOMER SIGNATURES



The undersigned has received, read, understands and agrees to all the provisions of this
Agreement, and by checking the applicable boxes or signing or initialing above acknowledges
that it has received and understood each such disclosure statement and/or made such
consents or elections, and agrees to promptly notify Newedge in writing if any of the
warranties and representations contained herein become inaccurate or in any way cease to be
true, complete and correct.




The Global Trend Series ( USD), a series of Campbell Global Trend Fund. LP.




Customer Name(s)




	 	 	 

	[ILLEGIBLE]
	 
	Authorised Signature(s)
	 	(DATE)






	 	 	 

	Thomas P.Lloyd

	 	Gregory T Donovan
	 

	 	 
	General Counsel

	 	Chief Financial Officer
	General Partner

	 	General Partner
	Campbell & Company, Inc.

	 	Campbell & Company, lnc
	[[ILLEGIBLE] name and title of signatory]
	 	 






	 	 	 	 	 
	NEWEDGE USA, LLC

Accepted and Agreed.

 	 
	By:  	/s/ ANGELIE MURPHY
 	 
	 	Name:  	ANGELIE MURPHY 	 
	 	Title:  	MANAGING DIRECTOR & GLOBAL HEAD OF SFG
	 
	 	Date: 	 MAR 08 2010 	 



June 2009


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SECURITY FUTURES PRODUCT REGULATORY

PROTECTIONS AND ACCOUNT ELECTIONS



This disclosure document is furnished to a customer that desires to engage in the trading of
securities futures products pursuant to §41.41(b) of the Commodity Exchange Act and §240.15c3-3(o)
of the Securities Exchange Act of 1934.



1. Set forth below are descriptions of protections provided by the requirements set forth (i) under
the Securities Exchange Act Rule 15c3-3 and the Securities Investor Protection Act of 1970
applicable to a securities account, and (ii) under Section 4d of the Commodity Exchange Act
applicable to a futures account.






A. Protections for Securities Accounts. Positions in security futures products carried
in a
securities account are covered by SEC rules governing the safeguarding of customer funds and
securities, which are Section 15(c)(3) of the Securities Exchange Act of 1934 and Rule 15c3-3
thereunder. Newedge USA, LLC (“Newedge”) is required to follow these rules as a
broker/dealer. These rules prohibit a broker/dealer from using customer funds and securities
to
finance its business. As a result, the broker/dealer is required to set aside funds equal to
the
net of all its excess payables to customers over receivables from customers. The rules also
require a broker/dealer to segregate all customer fully paid and excess margin securities
carried by the broker/dealer for customers.




The Securities Investor Protection Corporation (“SIPC”) also covers positions held in
securities accounts. SIPC was created in 1970 as a non-profit, non-government, membership
corporation, funded by member broker/dealers. Its primary role is to return funds and
securities to customers if the broker/dealer holding these assets becomes insolvent. SIPC
coverage applies to customers of current (and in some cases former) SIPC members. Most
broker/dealers registered with the SEC are SIPC members; those few that
are not must disclose this fact to their customers. SIPC members must display an official sign
showing their membership. Newedge is a member of SIPC.




SIPC coverage is limited to $500,000 per customer, including up to $100,000 for cash. For
example, if a customer has 1,000 shares of XYZ stock valued at $200,000 and $10,000 cash in
the account, both the security and the cash balance would be protected. However, if the
customer has shares of stock valued at $500,000 and $100,000 in cash, only a total of $500,000
of those assets will be protected.




For purposes of SIPC coverage, customers are persons who have securities or cash on deposit
with a SIPC member for the purpose of, or as a result of, securities transactions. SIPC does
not protect customer funds placed with a broker/dealer just to earn interest. Insiders of the
broker/dealer, such as its owners, officers, and partners, are not customers for purposes of
SIPC coverage.




B. Protections for Futures Accounts. If positions in security futures products are
carried
in a futures account, they must be segregated from a futures commission merchants’ (“FCMs”)
or brokerage firm’s own funds and cannot be borrowed or otherwise used for the firm’s own
purposes according to Section 4d of the Commodity Exchange Act and the rules thereunder.
Newedge is a registered FCM and is required to follow these rules. If the funds are deposited



June 2009


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with another entity (e.g., a bank, clearing broker, or clearing organization), that entity
must acknowledge that the funds belong to customers and cannot be used to satisfy the FCM’s
debts. Moreover, although a brokerage firm may carry funds belonging to different customers in
the same bank or clearing account, it may not use the funds of one customer to margin or
guarantee the transactions of another customer. As a result, the brokerage firm must add its
own funds to its customers’ segregated funds to cover customer debits and deficits. Brokerage
firms must calculate their segregation requirements daily.




A customer may not be able to recover the full amount of any funds in its account if, in the
unlikely event, Newedge becomes insolvent and has insufficient funds to cover its obligations
to all of its customers. However, customers with funds in segregation receive priority in
bankruptcy proceedings. Furthermore, all customers whose funds are required to be segregated
have the same priority in bankruptcy, and there is no ceiling on the amount of funds that must
be segregated for or can be recovered by a particular customer.




Please be aware that a futures account, including any contracts that may be defined as
security futures products that are maintained in that account, is not provided with any
protections under the Securities Investor Protection Act of 1970.




Newedge is also required to separately maintain funds invested in security futures contracts
traded on a foreign exchange (foreign security futures contract). However, these funds may not
receive the same protections once they are transferred to a foreign entity (e.g., a foreign
broker, exchange or clearing organization) to satisfy margin requirements for those products.


2. Customer may choose or elect to hold its positions in and margin for security futures products
(“SFPs”) in either a securities account or futures account established and maintained by Newedge.



3. Customer’s election of account type for positions in and related margin for SFPs shall be made
by completing the Account Election Form attached and returning it to Newedge.



4. Customer may not change an election of account type after trading has commenced in SFPs.



5. The regulatory protections afforded a customer in connection with trading in security futures
products differ depending on whether the positions are carried in a securities account or a futures
account. If positions are carried in a securities account, Customer will not receive the
protections available for futures accounts. Similarly, if positions are carried in a futures
account, Customer will not receive the protections available for securities accounts.




June 2009


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Futures
Account Election



	þ	 	Customer elects to hold positions in and related margin for securities futures products
in a futures account established by Newedge pursuant to Newedge’s Futures Account
Agreement. 

[Please note if you elect to trade security futures products in a futures
account, you must also complete account paperwork to open a
securities account in the
event that you take delivery on a security futures product.]





or



Securities Account Election





	o	 	Customer elects to hold positions in and related margin for securities futures
products in a securities account established by Newedge pursuant to Newedge’s
Securities & Options Account Agreement. 


[Please note if you elect to trade security
futures products in a securities account, you must also complete account paperwork to
open a securities account]





The Global Trend Series ( USD), a series of Campbell Global Trend Fund. LP.

(Name of Customer)




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	By:	 	/s/ Thoms P. Lloyd	 	By:	 	/s/ Gregory T Donovan	 	 
	 	 	   	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	Thoms P. Lloyd
	 	 	 	 	 	Name:
	 	Gregory T Donovan	 	 
	 

	 	Title:
	 	General Counesl
	 	 	 	 	 	Title:
	 	Chief Finacial Officer	 	 
	 

	 	 	 	Campbell Company, Inc.

General Partner
	 	 	 	 	 	 	 	Campbell & Company, Inc	 	 
	 

	 	Date:
	 	2/17/10
	 	 	 	 	 	Date:
	 	2/17/10	 	 





June 2009


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