EX-10.20






Exhibit 10.20




June 5,
2008




Campbell & Company, Inc.




Court Tower Building

210 West Pennsylvania Avenue

Suite 770

Towson, MD 21204




Attn: Ms. Terry Becks





			
	      Re:	 	Management Agreement Renewals





Dear Ms. Becks:



We are writing with respect to your management agreements concerning the commodity pools to which
reference is made below (the “Management Agreements”). We are extending the term of the Management
Agreements through June 30, 2009 and all other provisions of the Management Agreements will remain
unchanged.





	 	•	 	Smith Barney Potomac Futures Fund L.P.
	 
	 	•	 	Smith Barney Diversified Futures Fund L.P.
	 
	 	•	 	Smith Barney Diversified Futures Fund L.P. II
	 
	 	•	 	Smith Barney Global Diversified Futures Fund L.P.
	 
	 	•	 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.
	 
	 	•	 	CMF Campbell Master Fund L.P.





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




Very truly yours,




	 	 	 	 	 
	 	CITIGROUP MANAGED FUTURES LLC

 	 
	 	By:  	/s/ Jennifer Magro
 	 
	 	 	Jennifer Magro 

Chief Financial Officer & Director	 



	 	 	 	 	 
	 	CAMPBELL & COMPANY, INC.

 	 
	                                                       
	 	By:  	/s/
Thomas P. Lloyd
 	 
	 	 	 	 




Print
Name: Thomas P. Lloyd 



JM/sr




 









 





Exhibit 10.20




June 5,
2008




Aspect Capital Management Ltd.

Nations House — 8th Floor

103 Wigmore Street

London W1U 1QS, U.K.




Attention: Mr. Anthony Todd




      Re: Management Agreement Renewals




Dear Mr. Todd:


We are writing with respect to your management agreements concerning the commodity pools to which
reference is made below (the “Management Agreements”). We are extending the term of the Management
Agreements through June 30, 2009 and all other provisions of the Management Agreements will remain
unchanged.





	 	•	 	Salomon Smith Barney Global Diversified Futures Fund L.P.
	 
	 	•	 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.
	 
	 	•	 	Citigroup Diversified Futures Fund L.P.
	 
	 	•	 	Citibank NA (Alera 100)
	 
	 	•	 	CMF Aspect Master Fund L.P.
	 
	 	•	 	CMF Institutional Futures Portfolio LP
	 
	 	•	 	Citigroup Global Futures Fund Ltd.




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




Very truly yours,




	 	 	 	 	 
	 	CITIGROUP MANAGED FUTURES LLC

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


	 	 	 	 	 
	 	By:  	/s/
Simon Rockall
 	 
	 	 	 	 




Print Name: Simon Rockall 



JM/sr





 









 





Exhibit 10.20




June 5,
2008




Graham Capital Management, L.P.

Rock Ledge Financial Center

40 Highland Avenue

Rowayton, CT 06853




Attention: Mr. Paul Sedlack




     Re: Management Agreement Renewals



Dear Mr. Sedlack:



We are writing with respect to your management agreements concerning the commodity pools to which
reference is made below (the “Management Agreements”). We are extending the term of the Management
Agreements through June 30, 2009 and all other provisions of the Management Agreements will remain
unchanged.





	 
	 	•	 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.
	 
	 	•	 	Salomon Smith Barney Fairfield  Futures Fund L.P.
	 
	 	•	 	Smith Barney Diversified Futures Fund L.P. II
	 
	 	•	 	Smith Barney Diversified Futures Fund L.P.
	 
	 	•	 	AURORA III
	 
	 	•	 	Citigroup Diversified Futures Fund L.P.
	 
	 	•	 	Citigroup Fairfield Futures Fund L.P. II
	 
	 	•	 	CMF Graham Master Fund L.P.











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




Very truly yours,




	 	 	 	 	 
	 	CITIGROUP MANAGED FUTURES LLC

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



	 	 	 	 	 
	 	By:  	/s/ Paul Sedlack
 	 



Print Name: Paul Sedlack 




JM/sr





 









 





Exhibit 10.20




June 5,
2008




SandRidge Capital, L.P.

1300 Post Oak Blvd., Suite 325

Houston, Texas 77056




Attention: Mr. Andrew M. Rowe




     Re: Management Agreement Renewals



Dear Mr. Rowe:



We are writing with respect to your management agreements concerning the commodity pools to which
reference is made below (the “Management Agreements”). We are extending the term of the Management
Agreements through June 30, 2009 and all other provisions of the Management Agreements will remain
unchanged.





	 
	 	•	 	CMF SandRidge Master Fund LP
	 
	 	•	 	CMF SandRidge Feeder (Cayman) Ltd.
	 
	 	•	 	Citigroup Energy Advisors Portfolio L.P.
	 
	 	•	 	SSB Diversified 2000 Futures Fund L.P.




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




	 	 	 	 	 
	 	Very truly yours,



CITIGROUP MANAGED FUTURES LLC

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

	 
	 	By:  	/s/ Andrew M. Rowe 	 



Print Name: Andrew M. Rowe


JM/sr


 








 




Exhibit 10.20



June 5, 2008



Eckhardt Trading Company

1314 North Dearborn Parkway

The Carriage House

Chicago, Illinois 60610



Attention: Ms. Audrey L. Gale



     Re:     Management Agreement Renewal



Dear Ms. Gale:



We are writing with respect to your management agreement concerning the commodity pool to which
reference is made below (the “Management Agreement”). We are extending the term of the Management
Agreement through June 30, 2009 and all other provisions of the Management Agreement will remain
unchanged.




	 	•	 	Citibank NA (Alera 100)
	 
	 	•	 	CMF Eckhardt Master Fund L.P.
	 
	 	•	 	SSB Diversified 2000 Futures Fund L.P.
	 
	 	•	 	SB Diversified Futures Fund L.P.
	 
	 	•	 	SB Diversified Futures Fund L.P. II





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



Very truly yours,



CITIGROUP MANAGED FUTURES LLC




	 	 	 	 	 
	By:

	 	/s/ Jennifer Magro
	 	 
	 

	 	 	 	 
	 

	 	Jennifer Magro	 	 
	 

	 	Chief Financial Officer and Director	 	 
	 
	 	 	 	 
	ECKHARDT
TRADING COMPANY 
	 	 
	 
	                                                       
	By:

	 	/s/ John D. Fornengo	 	 
	 

	 	 	 	 






Print Name: John D. Fornengo



JM/sr