Document:

<PAGE>

                                                                   Exhibit 10.30

                               March _____ , 2002

Mr. David J. Vitale
President and Chief Executive Officer
Board of Trade of the City of Chicago, Inc.
141 West Jackson Boulevard
Chicago, Illinois 60604

Dear Mr. Vitale:

     We hereby refer to that certain Employment Agreement, dated as of February
20, 2001 (the "Employment Agreement"), by and between you and Board of Trade of
the City of Chicago, Inc. ("CBOT"). Capitalized terms used but not otherwise
defined in this letter agreement shall have the meanings set forth in the
Employment Agreement (references to "you" and to "Executive" herein refer to
you).

     The purpose of this letter agreement is to (i) amend certain provisions of
the Employment Agreement related to the Performance Bonus and the timing of the
Walk-Away Period and (ii) clarify and confirm the parties' understanding of the
meaning of certain terms set forth in Appendix A to the Employment Agreement
related to the grant of appreciation rights in light of certain refinements to
the restructuring transactions currently contemplated by the CBOT (the
"Restructuring Transactions") and as described in Amendment No. 2 to the
Registration Statement on Form S-4, as filed by CBOT Holdings, Inc. ("CBOT
Holdings") on March [__], 2002 (as amended, the "Registration Statement").

     Specifically, notwithstanding anything to the contrary set forth in Section
3(b) of the Employment Agreement, the parties hereto agree that for the fiscal
year ended December 31, 2002 and each fiscal year thereafter during the
Employment Period, the Board may, in its sole discretion, award a Performance
Bonus to Executive, which shall not be less than $500,000.00, following the end
of each such fiscal year based upon Executive's performance and the CBOT's (or,
if the Restructuring Transactions are completed, CBOT Holdings's) operating
results during such year, which shall be paid in a single lump sum during the
last calendar month of the fiscal year or the first calendar month of the
immediately following fiscal year.

     In addition, notwithstanding anything to the contrary with respect to
timing set forth in Section 4(i) of the Employment Agreement, the parties hereto
further agree that at any time during the term of your Employment Agreement, as
amended by this letter Agreement, and prior to completion of the Restructuring
Transactions, upon (30) days written notice to the CBOT, Executive may terminate
the Employment Period and be entitled to receive the benefits provided for
therein. For purposes of Section 4(i) of the Employment Agreement, the
Restructuring Transactions shall be deemed to be completed on the date the CBOT
is demutualized, as described in the Registration Statement.

     Last, the Restructuring Transactions contemplated that the CBOT would
demutualize by creating a stock, for-profit holding company, CBOT Holdings, and
distributing shares of common stock of CBOT Holdings to the current CBOT
members, while maintaining
<PAGE>

Mr. David J. Vitale
March __, 2002
Page 2

the CBOT as a nonstock, corporate subsidiary of CBOT Holdings ("CBOT
Subsidiary"). In connection with the Restructuring Transactions, the current
members of the CBOT would receive both (1) common stock of CBOT Holdings, which
correspondence to the "Class A common stock" referenced in the Employment
Agreement and (2) Series B-1, Series B-2, Series B-3, Series B-4 and Series B-5
Class memberships (i.e., in respect of the current Full, Associate, GIM, IDEM,
and COM memberships, respectively) in the CBOT Subsidiary, which corresponds to
the "Class B common stock" or applicable series thereof referenced in the
Employment Agreement. In addition, each Full Member would receive a Class C
membership in the CBOT Subsidiary, which corresponds to the Chicago Board
Options Exchange "exercise right" associated with each share of Series B-1,
Class B common stock referenced in the Employment Agreement.

     In connection therewith, the parties hereto agree that all references in
the Employment Agreement, including Appendix A thereto, to the Class A common
stock and the Class B common stock (and any applicable series thereof) of the
CBOT shall be deemed to be references to the common stock of CBOT Holdings and
the Class B memberships (and any applicable series thereof) in the CBOT
Subsidiary, respectively. In addition, one Class C membership in the CBOT
Subsidiary shall be included as Covered Equity in each of the Class A-1A and
Class A-1B Appreciation Units. The fair market value of Class C memberships in
the CBOT Subsidiary shall be determined in the same manner as memberships in the
CBOT prior to completion of the Restructuring Transactions or Class B
memberships in the CBOT Subsidiary following completion of the Restructuring
Transactions and the number of Class C memberships shall be subject to
adjustment in the same manner as the common stock of CBOT Holdings and Class B
memberships in the CBOT Subsidiary.

     For purposes of this letter agreement, Paragraphs 13, 14, 15, 16, 17, 18
and 19 of the Employment Agreement shall be incorporated by reference herein.
Except as otherwise provided in this letter agreement, all provisions of the
Employment Agreement are affirmed in all respects and remain in full force and
effect.

                                  Very truly yours,

                                  BOARD OF TRADE OF THE CITY OF
                                  CHICAGO, INC.

                                  __________________________________________
                                  By:   Nickolas J. Neubauer
                                  Its:  Chairman

Accepted and Agreed to this
[____] day of March, 2002:

DAVID J. VITALE

_________________________________________<PAGE>

                                                                  Exhibit 10.31

                   Confidential Materials omitted and filed
            separately with the Securities and Exchange Commission
               pursuant to a request for confidential treatment.
                          Asterisks denote omissions.

                         Software Maintenance Agreement

This Software Maintenance Agreement (the "Agreement") is entered into

between

1. Board of Trade of the City of Chicago, Inc., 141 West Jackson Blvd., Suite
   600-A, Chicago, Illinois, 60604, United States of America

                                                           (hereinafter, "CBOT")

2. Ceres Trading Limited Partnership, c/o Electronic Chicago Board of Trade,
   Inc., 141 West Jackson Blvd., Suite 600-A, Chicago, Illinois 60604, United
   States of America

                                                          (hereinafter, "Ceres")

and

1. Deutsche Borse AG, Neue Borsenstrasse 1, 60487 Frankfurt am Main, Germany

                                                           (hereinafter, "DBAG")

2. SWX Swiss Exchange, Selnaustrasse 30, 8021 Zurich, Switzerland

                                                            (hereinafter, "SWX")

3. Eurex Zurich AG, Selnaustrasse 30, 8021 Zurich, Switzerland

                                                   (hereinafter, "Eurex Zurich")

4. Eurex Frankfurt AG, Neue Borsenstrasse 1, 60487 Frankfurt am Main, Germany

                                                (hereinafter, "Eurex Frankfurt")

                    Software Maintenance Agreement - Final
<PAGE>

                                      -2-

                                   PREAMBLE

A.   Eurex Zurich and its wholly-owned subsidiary Eurex Frankfurt (referred to
     jointly as the "Eurex Entities"), are operating the electronic derivatives
     exchanges Eurex Zurich and Eurex Deutschland (the "Eurex Exchanges"). The
     technological basis of the Eurex Exchanges is the Eurex Software, a
     software jointly developed and owned by DBAG and SWX.

B.   CBOT offers certain derivative products for trading on that certain
     electronic market currently operated on the basis of Release a/c/e 1.0 of
     the Eurex Software and formerly known as "a/c/e" (the "CBOT Electronic
     Market"). The host used for the CBOT Electronic Market is located in
     Chicago (the "Chicago Backend"). The CBOT Electronic Market is connected to
     a dedicated wide-area communications network provided by Deutsche Borse
     Systems AG ("DBS") (the "Network") that can be accessed through certain
     Access Points. To date, DBS, a wholly-owned subsidiary of DBAG, has
     provided to the CBOT/Eurex Alliance, L.L.C. for Ceres and CBOT, and to the
     Eurex Entities, DBAG and SWX, services related to the development and the
     application maintenance of the Eurex Software on the basis of a Master
     Software Development Agreement dated July 20, 2000 (the "Master Software
     Development Agreement"). The parties to the Master Software Development
     Agreement have decided to terminate the Master Software Development
     Agreement by way of a separate Reorganization Agreement dated an even date
     herewith (the "Reorganization Agreement"). The Reorganization Agreement
     also provides for termination of the Software License Agreement dated
     October 1, 1999 between DBAG and SWX (DBAG and SWX collectively referred to
     as the "Ownership Parties"), CBOT and Ceres which has to date governed
     CBOT's and Ceres' right to use the Eurex Software (the "Software License
     Agreement").

C.   Following termination of the Software License Agreement, Ceres' and CBOT's
     right to use the Eurex Software are governed by a Non-exclusive Software
     License Agreement between the Ownership Parties, CBOT and Ceres dated an
     even date herewith (the "Non-exclusive Software License Agreement"). In
     addition, Ceres

                    Software Maintenance Agreement - Final
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                                      -3-

     and CBOT desire that DBAG provide to Ceres certain maintenance services
     relating to the Licensed Programs. DBAG is prepared to provide Ceres with
     such services subject to the terms of this Agreement.

In consideration of the foregoing premises and the mutual covenants herein set
forth, the parties agree as follows:

1.   Definitions

1.1  Terms used in this Agreement with initial capital letters (other than
     proper nouns) have the meanings set forth in the glossary of defined terms
     attached as Schedule 1.1.

2.   Scope of Agreement

2.1  Scope of Agreement.  This Agreement governs the relationship between CBOT
     and Ceres, on the one hand, and DBAG, on the other hand, with regard to
     certain maintenance and development services to be provided by DBAG for the
     purpose of the operation of the CBOT Electronic Market as set forth in
     Section 4.1 (the "Maintenance Services"). The Eurex Entities and SWX shall
     neither be responsible nor be liable under this Agreement in any way for
     the provision of the Maintenance Services or for any failure of DBAG in
     performing the Maintenance Services. CBOT and Ceres shall neither be
     responsible nor be liable under this Agreement in any way for the provision
     of services to DBAG, SWX or the Eurex Entities, or for any act or omission
     of DBAG, SWX or the Eurex Entities.

2.2  Other Agreements.  Ceres' right to use certain parts of the Eurex Software
     is governed by the Non-exclusive Software License Agreement. The
     installation and implementation of subsequent releases of the Eurex
     Software in the CBOT Electronic Market production environment are governed
     by the New Systems Operations Agreement dated an even date herewith between
     DBS, the Eurex Entities, CBOT and Ceres (the "New Systems Operations
     Agreement").

                    Software Maintenance Agreement - Final
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                                      -4-

3.   Proprietary Rights

3.1  Ownership.  The Ownership Parties are and shall remain the exclusive owners
     of the Eurex Software. CBOT and Ceres shall have no other right, title or
     interest in the Eurex Software other than as set forth in the Non-exclusive
     Software License Agreement. The Ownership Parties shall have and retain the
     exclusive right, title and interest in any future updates, releases or
     versions of, or relating to, the Eurex Software. CBOT's and Ceres' right to
     use such updates, releases and versions shall be governed exclusively by
     the Non-exclusive Software License Agreement. The provisions of this
     Section 3.1 also apply with regard to any development work performed upon
     specific request, and paid for, by Ceres or CBOT.

4.   Scope of Maintenance Services

4.1  Engagement.  Ceres hereby engages DBAG to provide the following services:

     4.1.1 Application maintenance in which DBAG will maintain the Licensed
           Programs as set forth in Schedule 4.1.1.

     4.1.2 Software development services regarding the Licensed Programs may be
           provided by DBAG to Ceres, upon specific request by Ceres. Any such
           request for the development of software is subject to a binding
           Change Request which the parties may agree upon in the outcome of the
           Change Request procedure set forth in Section 4.4.

4.2  Priority.  If any provision in Schedule 4.1.1 expressly states that it has
     priority over the terms of this Agreement, or if any provision in a Change
     Request expressly contradicts a provision in this Agreement, the provision
     in the Schedule or the relevant Change Request will have priority over the
     relevant terms of this Agreement. If a provision in Schedule 4.1.1 or a
     Change Request contradicts a provision in another Change Request, the most
     recent provision will have priority.

4.3  Deliverables, Services, Tasks.  Schedule 4.1.1 and each Change Request must
     describe the specific work results ("Deliverables") to be produced under
     the Schedule or Change Request. A Deliverable must include, if appropriate,
     functional and technical specifications for itself or for other
     Deliverables. Schedules and Change Requests relating to ongoing services
     ("Services") will

                    Software Maintenance Agreement - Final
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                                      -5-

     describe the service in detail and the standards for determining the
     quality of service. Schedules and Change Requests, and documents prepared
     pursuant to Schedules and Change Requests, will assign specific work
     ("Tasks") to the parties and establish time frames in which the Tasks are
     to be completed; Tasks will also constitute Deliverables to the extent that
     the Task requires the production of a specific work product and not just an
     ongoing service. Schedules and Change Requests can also establish the price
     for the Tasks, together with a payment schedule and may include a schedule
     of resources to be devoted to the work, including the number of man-days
     each party will provide, the equipment and the premises where the work will
     be carried out.

4.4  Change Request.  Ceres or DBAG may request a change in Maintenance Services
     at any time ("Change Request"). The Change Requests listed in Schedule 4.4
     have been agreed under the Master Software Development Agreement by the
     parties to such agreement and shall be deemed Change Requests pursuant to
     this Agreement.

     4.4.1  A Change Request will be in writing and will follow a format to be
            provided by DBAG. Each Change Request must contain sufficient
            information to enable the recipient to reasonably evaluate the
            Change Request including particularly:

            .  a description of the change (including specifications, test
               procedures, date of completion etc.),

            .  reasons for the change,

            .  additional resources required to implement the change (including
               any proposed subcontractors other than Freelancers),

           .   impact on other elements of the Maintenance Services or work to
               be performed by DBS within the scope of the New Systems
               Operations Agreement,

           .   impact on service levels established under the New Systems
               Operations Agreement,

           .   cost impact of the change and allocation of responsibility for
               increased costs or benefits from reduced costs; if appropriate,
               the Change Request will contain either a time-and-materials

                    Software Maintenance Agreement - Final
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                                      -6-

               price scheme or a fixed price for the additional work together
               with a payment schedule.

     4.4.2  If the party submitting a Change Request cannot reasonably provide
            sufficient information under the above categories using the party's
            own resources, the submitting party may require the other party or
            parties to assist in providing the missing information without undue
            delay. If a Change Request initiated by Ceres requires DBAG to
            expend more than one man-day in order to complete the information,
            DBAG can charge for the work on a "time-and-materials" basis if DBAG
            has informed Ceres in advance that it intends to charge for such
            efforts. DBAG will not charge if one man-day or less is required to
            complete the information.

     4.4.3  The parties recognize that there may be various solutions to each
            Change Request. DBAG will propose solutions that it reasonably
            believes will best meet the needs of Ceres while complying with the
            defined scope of work. If Ceres rejects a proposed solution that
            meets all of the requirements of this Agreement in favor of an
            alternative, DBAG will inform Ceres, in writing within two weeks of
            receipt of the alternative proposal about any anticipated increased
            costs or delay and, if appropriate, additional resources which are
            required, as well as all anticipated problems with the solution
            selected by Ceres such as impact on service levels. If the parties
            cannot reach agreement at the operational level Ceres may, at its
            own risk, insist on its alternative solution. In this event, DBAG
            will, subject to Section 4.4.5, be obliged to perform the work on
            the alternative solution once a corresponding Change Request, in
            which Ceres agrees to compensate DBAG for such work on a time-and-
            materials basis, has been signed by Ceres. The obligation of DBAG to
            perform work under such a Change Request is subject to the condition
            precedent that DBAG has reasonable access to the additional
            resources set forth in the notice submitted to Ceres under the third
            sentence of this Section 4.4.3.

     4.4.4  Any Change Request by either DBAG or Ceres shall be communicated to
            the designated recipient of the Change Request through the Eurex

                    Software Maintenance Agreement - Final
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                                      -7-

            Entities. The Eurex Entities shall without undue delay investigate
            implications of the proposed Change Request on the Eurex Operations
            and on the compatibility of the software and the systems used for
            the operation of each of the Eurex Exchanges and the CBOT Electronic
            Market. Following such investigation, the Eurex Entities shall
            promptly forward, with comments as appropriate, the Change Request
            to the designated recipient. Any Change Request directly submitted
            to the designated recipient shall be deemed non-existing and shall
            not be processed by the recipient of such Change Request.

     4.4.5  A Change Request will become binding if it has been signed by Ceres,
            the Eurex Entities and DBAG. DBAG, the Eurex Entities and Ceres will
            evaluate Change Requests without undue delay. Except as provided in
            Sections 4.4.2 and 5.1, no party is under an obligation to perform
            work under a Change Request prior to the Change Request having been
            orderly signed; the costs for performing any such work prior to
            signing will be borne by the party performing the work.

     4.4.6  Under no circumstances shall DBAG and the Eurex Entities be obliged
            to agree to any Change Request that would have a negative impact on
            any of the Eurex Operations, the Eurex Software or the Network.

     4.4.7  In the event DBAG or the Eurex Entities unreasonably decline
            acceptance of a Change Request regarding the Licensed Programs which
            is necessary in order to adhere to legal or regulatory requirements
            (other than with respect to the Texas Case regarding which Section
            14.1.5 shall apply), Ceres may ask a third party to make the
            necessary modifications to the Eurex Software. In such case, (i) the
            Eurex Entities and DBS have to provide, subject to appropriate
            confidentiality undertakings, the relevant source code and the right
            to modify it, each as necessary, to such third party, and (ii) the
            implementation of the modifications made by the third party is
            subject to the approval by DBS and the Eurex Entities. In the event
            such approval is unreasonably declined by the Eurex Entities and/or
            DBS, Ceres may declare termination of this Agreement. In case the
            approval is given by DBS and the Eurex Entities, the modifications
            made

                    Software Maintenance Agreement - Final
<PAGE>

                                      -8-

            by the third party may be used by Ceres and CBOT throughout the term
            of this Agreement.

4.5  System Investigation Request.  Sections 4.4.4 and 4.4.6 shall apply with
     regard to any request for work under this Agreement that does not require a
     Change Request (a "System Investigation Request"). DBAG shall not perform
     any work under a System Investigation Request prior to the written approval
     of such System Investigation Request by the Eurex Entities. The System
     Investigation Requests listed in Schedule 4.4 have been agreed under the
     Master Software Development Agreement by the parties to such agreement and
     shall be deemed System Investigation Requests pursuant to this Agreement.

5.   Co-operation, Communication, Subcontracting

5.1  Critical Instructions.  If Ceres issues an instruction to DBAG, the
     instruction is invalid until the Eurex Entities confirm the instruction. As
     a matter of exception, if Ceres issues a written instruction to DBAG which
     states that immediate compliance with the instruction is required by a
     regulatory agency having authority over the CBOT Electronic Market, DBAG
     shall immediately (i) commence work in accordance with the instruction, and
     (ii) forward a copy of the instruction to the Eurex Entities. Ceres will
     pay DBAG for all work under such an instruction on a time-and-materials
     basis. If DBAG reasonably believes that implementation of such an
     instruction is contrary to other work to be performed by DBAG under this
     Agreement or by DBS under the New Systems Operations Agreement, or the
     operation of any of Eurex Operations, DBAG will immediately notify Ceres
     and the Eurex Entities accordingly, and DBAG will not be required to
     implement the instruction until both Ceres and the Eurex Entities have
     confirmed the instruction.

5.2  Delays.  Reference to obligations of Ceres also includes all Tasks to be
     performed by Ceres. DBAG will not be responsible for delays in work under
     this Agreement or for budget overruns which are caused by acts or omissions
     by Ceres. DBAG shall notify Ceres of the specific risk that the delay or
     budget overrun will occur, and Ceres must be given the opportunity to
     perform the relevant Task without undue delay.

                    Software Maintenance Agreement - Final
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                                      -9-

5.3  Co-operation.  Ceres will provide the resources identified in Schedule
     4.1.1 and each applicable Change Request and perform such other Tasks as
     may be set forth in Schedule 4.1.1 and each Change Request. Ceres shall
     provide DBAG and its subcontractors with all reasonable co-operation and
     assistance in the performance of the Maintenance Services, in each case
     including:

     5.3.1  Ceres will make all decisions reasonably requested of it by DBAG in
            a timely manner; such decisions will be made at the latest within
            one week after receiving a written request from DBAG for the
            decision; provided that such one week period does not commence to
            run if Ceres still requires reasonable information from DBAG before
            making the decision. The one week period will be extended by a
            reasonable amount of time if circumstances require this.

     5.3.2  Ceres will provide in a timely manner all information which the
            Eurex Entities or DBAG or its subcontractors reasonably requests.

     5.3.3  Ceres will provide appropriately equipped facilities designated by
            the Program Managers, particularly in the United States of America
            (the "Facilities"), for carrying out the Maintenance Services within
            the scheduled time frame at the reasonable request of DBAG or its
            subcontractors. The appropriate equipment in the Facilities does not
            include components of the system which are being provided by DBAG.

     5.3.4  As DBAG or its subcontractors may reasonably request assistance,
            Ceres will make personnel resources available at locations where
            work within the scope of the Maintenance Services is being conducted
            in order to provide such assistance in a timely manner.

     5.3.5  Ceres will provide DBAG and its subcontractors with access to the
            Facilities where equipment required for the performance of the
            Maintenance Services is located 24 hours per day, 365 days per year
            (including weekends and holidays), except to the extent that
            security requirements make such access unreasonable.

                    Software Maintenance Agreement - Final
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                                      -10-

     5.3.6  DBAG will provide reasonable assistance to Ceres and its employees
            and subcontractors so that they can perform their Tasks and other
            work relating to the Maintenance Services.

5.4  Program Managers.  DBAG and Ceres will each appoint one Program Manager.
     Each Program Manager is entitled to make all decisions and issue all
     declarations on behalf of its principal with regard to any aspect of the
     Maintenance Services, provided, however, that the Program Managers are not
     entitled to make any decision without the consent of the Eurex Entities.
     Each party will also appoint substitute Program Managers who can exercise
     the authority of the Program Managers in their absence. Neither Ceres nor
     DBAG has any responsibility for monitoring whether the other side's Program
     Manager has actually complied with the internal approval procedures. One
     side's Program Manager can delegate authority for a specific matter or for
     categories of matters to another person by informing the other side's
     Program Manager in writing; the delegation of authority may only be
     cancelled by written notification to the other Program Manager. The names
     of the current Program Managers and their substitutes are set forth in
     Schedule 5.4.

5.5  Eurex Manager.  The Eurex Entities will appoint a Eurex Manager. The Eurex
     Manager is entitled to make all decisions and issue all declarations on
     behalf of the Eurex Entities with regard to any aspect of the Maintenance
     Services. The Eurex Entities will also appoint a substitute Eurex Manager
     who can exercise the authority of the Eurex Manager in his absence. Neither
     Ceres nor DBAG has any responsibility for monitoring whether the Eurex
     Manager has actually complied with the internal approval procedures. The
     Eurex Manager can delegate authority for a specific matter or for
     categories of matters to another person by informing the Program Managers
     in writing; the delegation of authority may only be cancelled by written
     notification to the Program Managers. The names of the current Eurex
     Manager and his substitute are set forth in Schedule 5.4.

5.6  Escalation Committee.  The parties will establish an "Escalation Committee"
     which will consist of CBOT's Chairman and Chief Executive Officer, the
     Officer of DBAG's Management Board responsible for DBAG's interest in the
     Eurex Operations and the Chief Executive Officer of the Eurex Entities. The
     purpose of

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                                      -11-

     the Escalation Committee is to discuss Problems which are not resolved by
     the Program Managers.

5.7  Subcontractors.  DBAG may engage subcontractors for the performance of the
     Maintenance Services without CBOT's or Ceres' consent. Prior to engaging
     any subcontractor other than DBS or a subcontractor who is a natural person
     (such natural person a "Freelancer"), DBAG shall inform Ceres and the Eurex
     Entities about the intended subcontracting. Subject to Section 4.4.7, any
     engagement of a subcontractor that is not a member of the Eurex Group by
     Ceres to provide Maintenance Services shall require prior written approval
     by DBAG and the Eurex Entities. Each party will be liable for the
     performance of its subcontractors under (S) 278 German Civil Code. Each
     party must especially make sure that its subcontractors comply with all
     provisions of the Agreement relating to confidentiality and each party must
     require each of its subcontractors to execute appropriate non-disclosure
     agreements consistent with the requirements of Section 15.

6.   Legal and Regulatory Environment

6.1  Compliance.  DBAG will perform the Maintenance Services in compliance with
     legal and regulatory requirements, if any, for the operation of the CBOT
     Electronic Market in effect on the Effective Date. Ceres is responsible for
     timely informing DBAG about these requirements and their impact on the
     Maintenance Services. DBAG and each of the Eurex Entities will monitor the
     compliance of their respective employees and subcontractors assigned to
     provide Maintenance Services with CFTC Regulation 1.59 and will require
     such persons to execute a letter in the form set forth in Schedule 6.1.

6.2  Other Standards.  Ceres may require that the Maintenance Services will
     comply with other standards at any time by initiating the Change Request
     procedure.

6.3  Monitoring.  Ceres is responsible for monitoring all changes in the legal
     and regulatory requirements and standards set forth in the preceding
     Sections 6.1 and 6.2 for the CBOT Electronic Market. Ceres will, through
     the Change Request procedure, inform DBAG without undue delay about any
     changes required in the

                    Software Maintenance Agreement - Final
<PAGE>

                                      -12-

     Maintenance Services in order to comply with changes in such requirements
     and standards.

6.4  Regulatory Audits.  At the request of CBOT, DBAG will grant reasonable
     access to its facilities, records and personnel to regulatory authorities
     for the purpose of auditing the CBOT Electronic Market.

7.   Development Environment

7.1  Location.  DBAG will perform most of the work falling within the scope of
     the Maintenance Services in its own facilities in Frankfurt am Main, and
     DBAG will own, either directly or indirectly, the development environment
     in Frankfurt am Main.

8.   Problem Resolution

8.1  Notification.  Each of the parties can notify each other at any time in
     writing about a "Problem". A Problem is (i) an alleged failure of a party
     to perform its obligations, (ii) a disagreement about whether requested
     work or material is within the scope of the Maintenance Services, or (iii)
     any circumstance, whether or not within the control of the parties, which
     adversely affects performance under this Agreement within the agreed time
     and budget. For purposes of this Section 8, the Eurex Manager shall be
     deemed a Program Manager.

8.2  Timeliness.  Each of the parties will inform each other about a Problem
     without undue delay after becoming aware of it. If documentary evidence
     clearly shows that a party was aware of a Problem or should have been aware
     of the Problem exercising a highly professional standard of care, and the
     party failed to inform the other party within two weeks of becoming aware
     or when it should have become aware, the party who raises the Problem
     cannot assert any claims or other rights against the other party resulting
     from the Problem prior to notification, but the party raising the Problem
     can require the other party to correct the Problem without undue delay.

8.3  Content.  Notification of a Problem shall be in a written "Problem Report"
     which at a minimum contains sufficient information (to the extent
     reasonably available to

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                                      -13-

     the notifying party) under the following headings to reasonably evaluate
     the Problem:

            .  description of the Problem including a designation of those parts
               of the Maintenance Services affected by the Problem,

            .  estimated impact on timing and costs,

            .  proposal for corrective action,

            .  description of the resources needed for the corrective action,

            .  proposal for allocation of costs resulting from the Problem and
               the corrective measures.

     A Problem Report needs to be signed by the Program Manager of the party
     submitting the Problem Report.

8.4  Resolution.  If the Program Managers cannot resolve a Problem within 10
     Business Days after a Problem Report has been submitted, either party can
     refer the Problem in writing to the Escalation Committee. The Escalation
     Committee cannot impose a resolution of a Problem on a party without the
     party's consent. If any Program Manager notifies the other Program Managers
     in writing that the Problem is urgent, the period of 10 Business Days for
     referral to the Escalation Committee will not apply, i.e. the Problem can
     be referred immediately. If the Escalation Committee is unable to resolve
     the Problem within 30 Business Days after the problem has been referred to
     it in writing, or such earlier date if it agrees that it cannot resolve
     such Problem, either party may proceed to arbitration as set forth in
     Section 18.9.

8.5  Continued Performance.  Pending resolution of a Problem (including through
     arbitration) involving an allegation of improper performance on the part of
     DBAG, Ceres must continue to make payments on DBAG's invoices relating to
     the Maintenance Services equal to (i) the amounts owed for work not
     materially affected by the alleged improper performance, and (ii) 75% of
     the other invoiced amounts. DBAG cannot suspend performance, pending
     resolution of a Problem. However, if Ceres fails to comply with its
     obligation under the first sentence of this Section 8.5, DBAG can suspend
     its performance only for the work for which

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                                      -14-

     payment has been withheld in violation of the first sentence of this
     Section 8.5. If Ceres has suspended payment only under a Change Request,
     DBAG can only suspend performance of its work under that Change Request.
     Under no circumstances will DBAG suspend performance except as permitted
     under this Section 8.5.

8.6  Record.  If the parties resolve a Problem without arbitration, the parties
     will record the resolution in writing.

8.7  No Waiver.  Compliance with the Problem resolution procedure does not waive
     any substantive rights or remedies under this Agreement.

9.   Quality Control

9.1  Deliverables Sign-Off.  DBAG will submit Deliverables to Ceres for "Sign-
     Off" using a Sign-Off Form (in a form to be provided by DBAG). Sign-Off on
     a Deliverable does not constitute acceptance or part acceptance of such
     Deliverable. The party receiving a Deliverable will sign and return the
     Sign-Off Form or a Deficiency Report (in a form to be provided by DBAG),
     and will provide the Eurex Entities with a copy of such document. Ceres
     will examine the Deliverables for any discrepancies between the required
     functionality and other characteristics of the Deliverable required by this
     Agreement and the actual functionality and other characteristics of the
     Deliverable as submitted ("Deviations"). However, Ceres is under no
     obligation to examine the technical solutions contained in the
     Deliverables. The Deficiency Report will contain a detailed description of
     any Deviations. A Deficiency Report requires the signature of Ceres'
     Program Manager. DBAG will correct the Deviations without undue delay and
     resubmit the Deliverable. Subject to Section 9.2, this process will be
     repeated until all Deviations have been corrected. Failure to submit the
     Sign-Off Form or a Deficiency Report within two weeks of receipt of the
     Deliverable will constitute Sign-Off.

9.2  Repeat Attempts.  If DBAG fails to correct a Deviation listed in a
     Deficiency Report on the first try, DBAG will not be entitled to charge for
     further work required to correct the Deviation. Notwithstanding the
     foregoing, DBAG will not

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                                      -15-

     charge any additional fee for any work required to correct a Deviation in a
     Deliverable to the extent that Ceres is paying a fixed fee for such
     Deliverable. Should DBAG fail to cure a Deviation within a reasonable time,
     Ceres may subcontract the work to a third party, and DBAG will return any
     remuneration already received for the Deliverable to the extent that the
     DBAG work cannot reasonably be used. DBAG will co-operate with the new
     subcontractor. The liability of DBAG to make payments under this Section
     9.2 is limited to the amount which DBAG received for the corresponding
     work.

9.3  No Deviation.  If an alleged Deviation described in a Deficiency Report is
     found not to exist and if the alleged Deviation instead constitutes a
     change in the scope of the Deliverable, DBAG will notify Ceres accordingly,
     and Ceres can then initiate the Change Request procedure. If Ceres and DBAG
     disagree about the existence of a Deviation and the disagreement is not
     resolved by the Program Managers, either DBAG or Ceres can initiate the
     Problem Report procedure.

9.4  Deliverables Acceptance.  DBAG will notify Ceres, with a copy to the Eurex
     Entities, that a Deliverable due under this Agreement or any applicable
     Change Request is ready for Acceptance after DBAG has successfully
     completed testing, unless otherwise agreed. Ceres will have the right to
     test (in accordance with the applicable Test Procedures) all of the
     Deliverables, and in combination with any other systems, software or
     hardware with which the Deliverables are intended to be used. In accordance
     with Sections 9.4.1 through 9.4.3, Ceres will either sign an acceptance
     form in a form agreed to by Ceres and DBAG (the "Acceptance Form") or a
     Deficiency Report, in each case with a copy to be provided to the Eurex
     Entities.

     9.4.1  When Ceres submits a Deficiency Report in connection with the
            Acceptance of a Deliverable, in addition to the detailed description
            of any Deviation, Ceres will classify the Deviation as follows:

            Class 1:  The Deviation would prevent the Deliverable as a whole
                      from operating or would have such an impact on the
                      operation of the Deliverable that its use in production
                      would not be commercially viable.

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                                      -16-

            Class 2:  The Deviation would have a materially detrimental impact
                      on the operation of the Deliverable as a whole, although
                      the Deliverable could still be used in production in a
                      commercially viable manner, if necessary with reasonable
                      work-around efforts. If a combination of Class 2 and Class
                      3 Deviations would prevent the Deliverable as a whole from
                      being used in a commercially viable manner, the
                      combination of Class 2 and Class 3 Deviations constitutes
                      a Class 1 Deviation.

            Class 3:  These are any other Deviations. If a combination of Class
                      3 Deviations would prevent the Deliverable as a whole from
                      operating or would have such an impact on the operation
                      that its use in production would not be commercially
                      viable, the combination of Class 3 Deviations constitutes
                      a Class 1 Deviation. If a combination of Class 3
                      Deviations would have a materially detrimental impact on
                      the operation of the Deliverable as a whole, although it
                      could still be used in production in a commercially viable
                      manner, if necessary with work-around efforts, the
                      combination of Class 3 Deviations constitutes a Class 2
                      Deviation.

     9.4.2  If Ceres classifies a Deviation as a Class 1 Deviation during the
            Test Procedure, Ceres can cancel or interrupt the Test Procedure and
            require DBAG to reexamine the Deliverable and correct the Deviation
            and any other Deviations which were already identified as soon as
            possible using its best efforts prior to resubmitting the
            Deliverable for the Test Procedure. If Ceres classifies a Deviation
            as a Class 2 Deviation during the Test Procedure, the Test Procedure
            will continue to the extent reasonably feasible, and DBAG will
            correct the Deviation and any other Deviations which were already
            identified as soon as possible using its best efforts. Ceres must
            only accept the Deliverable as a whole after conclusion of the Test
            Procedures when all Class 1 Deviations have been corrected.

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                                      -17-

     9.4.3  After conclusion of the Test Procedure, Ceres is not entitled to
            refuse Acceptance of the Deliverable due to Class 2 or Class 3
            Deviations. However, DBAG must correct the Class 2 and Class 3
            Deviations without undue delay after they have been reported.

     Failure to submit the Acceptance Form or a Deficiency Report within two
     weeks after the Test Procedures have been concluded constitutes Acceptance
     of the Deliverable. If the parties disagree about the classification of a
     Deviation and the disagreement is not resolved by the respective Program
     Managers, either party can initiate the Problem Report procedure.

9.5  Services.  Services, which are not part of any Deliverable (i.e., training
     services), are not subject to the Sign-Off procedures; rather, Ceres can
     register complaints on a Deficiency Report if it is dissatisfied with a
     Service. During the performance of Services any deficiencies must be
     submitted in writing to DBAG (with a copy to the Eurex Entities). If
     documentary evidence clearly shows that Ceres was aware of a deficiency in
     the Service or should have been aware of the deficiency in the Service
     exercising a highly professional standard of care, and that Ceres fails to
     inform DBAG (with a copy to the Eurex Entities) within two weeks of
     becoming aware thereof, Ceres cannot assert any claims or other rights
     against DBAG resulting from the deficiency in the Service prior to
     notification, but Ceres can require DBAG to correct the deficiency in the
     Service without undue delay. DBAG must correct the deficiency at its
     expense.

10.  Service Fees, Payment

10.1 Service Fee.  Schedules 4.1.1 and 10.2 and, if applicable, the Change
     Requests will specify the fees ("Service Fees"), reimbursable expense
     categories and payment schedules payable by Ceres to DBAG. Ceres will only
     reimburse DBAG for those categories of expenses identified in the Schedules
     and the Change Requests or elsewhere in this Agreement and only to the
     extent the expenses are reasonable and documented.

10.2 Time and Materials.  If this Agreement, a Schedule or a Change Request does
     not specify a Service Fee or specifies that charges will be on a time-and-
     materials
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                                      -18-

     basis, DBAG will charge on a time-and-materials basis according to the DBAG
     catalogue of prices attached as Schedule 10.2 (the "DBAG Catalogue of
     Prices").

10.3 Invoices.  DBAG will send invoices to Ceres. Each invoice will include
     supporting information for the specific line items which are charged. Ceres
     can conduct an audit of DBAG's records to the extent reasonably required to
     confirm the accuracy of the invoiced amounts (e.g., reviewing timesheets,
     travel expense reports). If the audit reveals a variance of more than 5% in
     a calendar quarter between the invoiced amount and, if less, the correct
     amount, DBAG will reimburse Ceres for the cost of the audit.

10.4 VAT, Tax Laws.  The parties acknowledge that the Maintenance Services
     provided by DBAG are under current German law not subject to Value Added
     Tax. Accordingly, the Service Fees invoiced by DBAG to Ceres are net of any
     Value Added Tax. In case all or part of the Maintenance Services become
     subject to Value Added Tax under the then current law and DBAG is required
     to pay and has paid such tax, Ceres shall reimburse DBAG the charge of
     Value Added Tax in the amount as stipulated by law for the respective
     service. If tax laws change after the execution of this Agreement so that
     Ceres is required to pay any new non-refundable taxes to a tax authority on
     payments made to DBAG under this Agreement, Ceres can require DBAG to
     commence negotiations on an adjustment of this Agreement in order to
     minimize the tax detriment to Ceres. No party is under an obligation to
     accept an adjustment which would have a materially detrimental financial
     impact on it or one of its Affiliates. If Ceres and DBAG do not agree on an
     adjustment within two months of receipt of the request to commence
     negotiations, the party for which there would be a materially detrimental
     financial impact on itself or one of its Affiliates can terminate this
     Agreement by written notice effective at the end of the calendar month
     following the month in which the notice is given. DBAG will charge for its
     efforts to wind down the work under this Agreement or transfer the work to
     any other party or third party on a time-and-materials basis.

     Prior to receiving any payment which may be subject to United States
     withholding taxes from Ceres, DBAG shall confirm in writing that such
     payment is not subject to withholding taxes or deliver to such party two
     original copies of Internal

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                                      -19-

     Revenue Service Form "W-8BEN" or "W-8ECI" (or any successor forms),
     accurately completed and duly executed by the issuer of the invoice,
     together with any other certificate or statement of exemption required
     under the Internal Revenue Code or the regulations issued thereunder to
     establish that the issuer of the invoice is not subject to deduction or
     withholding of United States federal income tax with respect to such
     payments. DBAG hereby agrees, from time to time after the initial delivery
     by DBAG of such confirmation, forms, certificates or other evidence
     whenever a lapse in time or change in circumstances renders such
     confirmation, forms, certificates or other evidence obsolete or inaccurate
     in any material respect, to deliver to Ceres a reconfirmation that such
     payment is not subject to withholding tax or two new original copies of
     Internal Revenue Service Form "W-8BEN" or "W-8ECI" (or any successor forms)
     accurately completed and duly executed by the issuer of the invoice,
     together with any other certificate or statement of exemption required
     under the Internal Revenue Code or the regulations issued thereunder to
     confirm or to establish that the issuer of the invoices is not subject to
     deduction or withholding of United States federal income tax with respect
     to any such payments. Notwithstanding this Section 10.4, the relevant
     Service Fees shall be paid net of any U.S. withholding tax caused by the
     failure of DBAG to provide Ceres with such forms, certificates or other
     evidence.

10.5 Payments.  All payments are due within 20 Business Days of receipt of an
     undisputed invoice and are not subject to any deductions for prompt payment
     (Skonto). All payments will be made free of bank charges or other
     deductions to an account which DBAG specifies in writing to Ceres.

10.6 Set-Off.  Legal rights of any party to set-off against claims of the other
     party are excluded, except where the corresponding claim of such party has
     either been determined by a final arbitral award pursuant to Section 18.9
     or expressly acknowledged by the other party in writing.

11.  Warranties

11.1 Exclusion.  Except as set forth in Section 11.2, all claims under warranty
     (Gewahrleistungsanspruche) against DBAG for any defects in a Deliverable
     included or used in the Licensed Programs that arise after Ceres'
     Acceptance of a

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                                      -20-

     Deliverable are excluded. However, if DBAG has a claim under warranty or
     for any other reason against any subcontractor or other third party, in
     each case other than DBS, related to any Deliverable, DBAG will inform
     Ceres about the claim and, at the request of Ceres, assign the claim to
     Ceres or assert the claim for the account of Ceres.

11.2 General Warranties.  The condition of the Deliverables (vereinbarte
     Beschaffenheit) shall be as follows: (i) each Deliverable will be free from
     all viruses, worms, trojan horses, cancelbots and other contaminants
     including, without limitation, any codes or instructions that can be used
     to access, modify, delete or damage any data files or other computer
     programs used by Ceres or CBOT; and (ii) subject to Section 14.1.5, the
     Deliverables do not, and will not, infringe, misappropriate or otherwise
     violate any proprietary right of any third party (the exclusive remedies
     for this last warranty (ii) are set forth in Section 14). These general
     warranties apply to standard third party software (e.g., standard Microsoft
     products) only to the extent that DBAG has corresponding warranties from
     the third party.

12.  Limitation of Liability

12.1 Conduct.  DBAG, SWX or the Eurex Entities, as the case may be, will each be
     severally liable (including consequential damages) to Ceres and CBOT and
     only to the extent that DBAG's, SWX's or the Eurex Entities', as the case
     may be, intentional misconduct or gross negligence causes or results in any
     damages or harm to Ceres or CBOT. Ceres and CBOT will be liable (including
     consequential damages) to DBAG, SWX and to the Eurex Entities only to the
     extent CBOT's or Ceres' intentional misconduct or gross negligence causes
     or results in any damages or harm to DBAG, SWX or the Eurex Entities. If
     DBAG, on the one hand, or CBOT or Ceres, on the other hand, notifies the
     other that it has failed to properly perform an obligation, even if the
     failure was without fault, and the notified party fails to cure the failure
     within a reasonable period, the notified party will be liable only in the
     event such failure to cure is a result of gross negligence or intentional
     misconduct. It is the understanding of the parties that the preceding
     sentence reflects their understanding of Section 11.1, last sentence of the
     Master Software Development Agreement.

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                                      -21-

12.2 Breach of Contract.  This Agreement (including Schedules and Change
     Requests) may contain provisions on liability which apply exclusively in
     specified circumstances; to the extent this is the case, all further
     liability shall be excluded. To the extent that a specific provision does
     not exist and a party, as a result of negligent conduct, materially
     breaches a contractual obligation, that party will, subject to the
     limitation set forth in Section 12.3, be liable for the harm suffered by
     the other parties, except for consequential damages.

12.3 Limitation of Liability.  The total liability of DBAG, SWX and the Eurex
     Entities, on the one hand, and Ceres and CBOT, on the other hand, for
     violations of any obligations under or in relation to this Agreement,
     including a breach of the warranties issued pursuant to Section 11.2, and
     the New Systems Operations Agreement is limited to (Euro) [**] per calendar
     year, whereby, for the purposes only of this provision, a liability of DBS
     under the New Systems Operations Agreement shall be deemed a liability of
     DBAG. This limit also applies to claims arising under provisions on
     liability which apply exclusively in specific circumstances. This Section
     12.3 does not apply to claims under Section 14.

12.4 Claims Exceeding Limitation of Liability.  If DBAG, on the one hand, or
     Ceres or CBOT, on the other hand, violate its obligations under this
     Agreement and the Software Maintenance Agreement to the extent that the
     other party would have claims against the violating party in excess of
     (Euro) [**] in any calendar year but for Section 12.3, the party whose
     claim is limited by Section 12.3 can terminate its participation in this
     Agreement pursuant to Section 17.2 within one month after notifying the
     other party in writing of the claim and the amount in excess of (Euro) [**]
     ("Claim"). A party which receives notice of the Claim under this Section
     12.4 can cancel the effect of the notice of termination by paying to the
     terminating party the excess amount stated by the terminating party in its
     notice under the first paragraph of this Section 12.4 within one week of
     receiving the notice of termination; such payment does not prejudice the
     rights of any of the parties under the Problem resolution procedures or in
     arbitration.

12.5 Sole Liability.  SWX and the Eurex Entities shall each be severally liable
     to Ceres and CBOT solely for damages arising from their own intentional
     misconduct or gross negligence, respectively. Under no circumstances shall
     SWX and the Eurex

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                                      -22-

     Entities be liable to Ceres or CBOT jointly and severally
     (gesamtschuldnerisch) with DBAG (i) for the performance of, or DBAG's or
     its subcontractors' failure to perform, any of DBAG's obligations pursuant
     to this Agreement, or (ii) any conduct (Section 12.1) of, or the breach of
     contract (Section 12.2) by, or warranties or covenants of, DBAG or any of
     its subcontractors.

12.6 Insurance.  The limits on liability in Section 12.3 do not apply to the
     extent that a party maintains insurance policies which would provide
     coverage in excess of the limits on liability. The parties will inform each
     other about current and future insurance policies which provide coverage in
     excess of the limits in Section 12.3. At the request of Ceres, DBS will
     have Ceres named as additional beneficiary under existing insurance
     policies; Ceres will bear any additional costs. DBS will conclude future
     insurance policies giving coverage in excess of the limits in Section 12.3
     upon receiving corresponding instructions from Ceres and an undertaking by
     Ceres to reimburse DBS for the corresponding insurance premiums. Ceres can
     determine the insurer, the beneficiaries and other aspects of the insurance
     policies.

13.  Personnel

13.1 Qualifications.  DBAG will only assign personnel to the Maintenance
     Services who are suitably qualified for the performance of DBAG's
     obligations under this Agreement. Ceres will only assign personnel to the
     Maintenance Services who have sufficient knowledge of the aspects of the
     relevant business, functional requirements, practices and areas of
     expertise in order to provide efficient cooperation with DBAG in performing
     the work under the Schedules or the Change Requests.

13.2 Transfer.  DBAG and Ceres, respectively, can require at any time that an
     individual assigned to the Maintenance Services be removed if such request
     is based on plausible reasons and not purely arbitrary. Such a demand is
     only permissible if the demanding party can provide clear and convincing
     evidence that the continued presence of the individual will endanger the
     successful completion of the work for which the individual is responsible.
     All demands for transfer or removal must be in writing and must state the
     reasons for the demand. The other

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                                      -23-

     party must comply with the request within two weeks and provide a suitable
     replacement without undue delay or deliver a Problem Report to the
     demanding party.

14.  Indemnification

14.1 Third Party Intellectual Property.

     14.1.1  Subject to Section 14.1.5, DBAG will indemnify, defend and hold
             Ceres and CBOT harmless for all losses, damages, expenses and costs
             (excluding consequential damages except in the case of intentional
             misconduct or gross negligence on the part of DBAG) related to or
             arising from all claims asserted by third parties against Ceres or
             CBOT caused by the performance of the Maintenance Services in which
             the third parties allege violations of intellectual property rights
             or of similar proprietary rights (e.g., under laws against unfair
             competition).

     14.1.2  Ceres and CBOT will inform DBAG without undue delay when such claim
             is asserted against it. DBAG will select, at its own expense, legal
             counsel reasonably acceptable to Ceres and CBOT for any
             proceedings, although Ceres and CBOT are permitted to have, at
             their own expense, legal counsel of their choice also participate
             in the proceedings.

     14.1.3  Neither Ceres nor CBOT is permitted to settle any claims of third
             parties covered by Section 14.1.1 so long as DBAG fully complies
             with its obligations under the above provisions, unless such
             settlement includes a release of DBAG from liability under the
             claim that is the basis of the proceeding.

     14.1.4  If Ceres or CBOT, as the case may be, are prohibited in proceedings
             about intellectual property rights (other than the Texas Case) or
             similar proprietary rights directed against any of them from using
             a Deliverable, or if such a prohibition is probable in its
             reasonable estimation, DBAG, at its own cost, will use reasonable
             efforts to obtain the right for Ceres to continue to use such
             Deliverable on commercially reasonable terms or use reasonable
             efforts to modify such Deliverable in such a manner that the

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                                      -24-

             violation of the intellectual property right or similar proprietary
             right no longer exists. This Agreement will then apply to the new
             or modified Deliverable.

     14.1.5  The parties are aware of the claims based on U.S. Patent No.
             4,903,201 (the "Patent") asserted in the case captioned eSpeed,
             Inc. and Electronic Trading Systems Corporation v. Board of Trade,
             et al., Civil Action No. 3-99CV1016-M, pending in the United States
             District Court for the Northern District of Texas (the "Texas
             Case"). None of the parties to this Agreement have any reason to
             believe that, when used in the manner contemplated in this
             Agreement, any component of either the Maintenance Services or the
             System do or will infringe any valid patent rights of the plaintiff
             in the Texas Case. Notwithstanding any other provision of this
             Agreement, no party shall have any liability to another party under
             this Agreement arising out of or in connection with the Patent or
             any claims asserted with respect thereto, in the Texas Case or
             otherwise, based upon the Patent. If the decision in the Texas Case
             is in favor of the plaintiff, DBAG and Ceres will use good faith
             efforts to modify, if applicable, the Maintenance Services so that
             the Texas Case does not affect the performance of the Maintenance
             Services. Ceres shall pay for any such efforts of DBAG on a time-
             and-materials basis.

14.2 General Indemnification.

     14.2.1  Each party will hold each other party harmless from any claim
             asserted against it by such other party's respective personnel or
             subcontractors for personal injury or damage to property incurred
             while such personnel is at such party's or an Affiliate's
             facilities in connection with this Agreement unless the harm was
             the result of intentional misconduct or gross negligence on the
             part of the other party or its Affiliate. Each party will also hold
             each other party harmless from claims asserted against such party
             by third parties resulting from intentional misconduct or
             negligence of such party's personnel.

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                                      -25-

     14.2.2  Each party will notify each other without undue delay if a claim is
             asserted for which a party will be seeking indemnification. The
             right to indemnification also covers the indemnified party's costs
             in defending against the claim so long as the indemnified party
             coordinates the defense of the claim with the party against whom
             indemnification is claimed. A party seeking indemnification is not
             permitted to settle the matter so long as the party against whom
             indemnification is claimed is in compliance with its obligations
             under this Section 14.2.2 unless such settlement includes a release
             of indemnifying party from liability under the claim that is the
             basis of the proceeding.

15.  Confidentiality

15.1 Confidential Information.  The parties acknowledge that they have received
     and will receive confidential information in connection with this Agreement
     and the transactions contemplated hereby related to and including trade
     secrets and business information regarding the business, financial
     situation, products and prospects of the other parties and their Affiliates
     ("Confidential Information"). For purposes hereof, Confidential Information
     includes but is not limited to (i) all documents and other media given or
     shown to any other party containing the legend "confidential", (ii) all
     documents, other media and other information (whether or not in written
     form) ancillary or related to such documents, (iii) all documents, other
     media and other information (whether or not in written form) prepared by
     the receiving party to the extent that they contain, reflect or are based
     upon, in whole or in part, any Confidential Information furnished by the
     disclosing party, (iv) except as set forth in any marketing plan or press
     release to which the parties mutually agree in writing, all information
     related to the subject matter of this Agreement, (v) all information that
     is Confidential Information as defined in Section 7.2 of the Non-exclusive
     Software License Agreement, and (vi) all Confidential Information as
     defined in each of the Preexisting Agreements. Confidential Information
     does not include any information: (i) which becomes generally available to
     the public other than as a result of a breach of this Section 15.1, (ii)
     which is received from a third party provided that the third party is not
     bound by an obligation of confidentiality with respect to such information,
     or (iii)

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                                      -26-

     which was legally in a party's possession without obligations of
     confidentiality prior to such information being furnished as Confidential
     Information.

15.2 Use.  The parties agree that all Confidential Information will be used only
     for the purpose of providing the Maintenance Services to Ceres and CBOT
     under this Agreement. The receiving party of each item of Confidential
     Information will use reasonable efforts, taking into account the
     materiality and proprietary nature of the particular Confidential
     Information, to protect such Confidential Information from unauthorized use
     or disclosure (intentional, inadvertent or otherwise) and, in any event,
     will exercise at least the same reasonable level of care to avoid any such
     unauthorized use or disclosure as it uses to protect its own information of
     a like nature. For the avoidance of doubt, the Confidential Information of
     a party may not be used by another party for any purpose other than to
     provide services to CBOT or Ceres under this Agreement or the New Systems
     Operations Agreement.

15.3 Exceptions.  Notwithstanding the foregoing, the parties may disclose
     Confidential Information to third parties with the prior written consent of
     the other parties hereto, and the parties will be free to disclose
     Confidential Information without the consent of the other parties to their
     attorneys and accountants, their clearing organizations, and to
     governmental entities and applicable self-regulatory organizations in
     connection with obtaining regulatory approvals to the extent necessary and
     reasonably appropriate to obtain such approvals or as otherwise required by
     law, rules of, or direction by, regulatory authorities having jurisdiction
     over the disclosing party, and only to the extent required by or reasonably
     requested by such authority, as well as to their directors, employees,
     attorneys, consultants and agents on a need-to-know basis in connection
     with their duties, as long as such persons are advised of the confidential
     nature of such information and their obligation to protect it as
     confidential and are bound by confidentiality undertakings consistent with
     this Section 15.

15.4 Return/Destruction.  If this Agreement is terminated for any reason, the
     receiving parties of each item of Confidential Information, including
     documents, contracts, records or properties, will return it to the
     disclosing party thereof or, in the receiving party's discretion, destroy
     it and provide a certification to the disclosing party that all such
     Confidential Information has been returned or destroyed

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     immediately after termination, except to the extent that retention of any
     Confidential Information is expressly permitted by any other written
     agreement among the parties or their Affiliates. The provisions of this
     Section 15 will survive the termination of this Agreement.

16.  Public Notices

16.1 Press Releases.  Notwithstanding Section 11.1 of the Reorganization
     Agreement, and subject to the other parties' prior written approval, which
     will not be unreasonably withheld, each party and its subcontractors may
     advertise and publicize the fact that the parties are cooperating on the
     Maintenance Services. The parties will cooperate in drafting press releases
     concerning the Maintenance Services.

16.2 Disputes.  Notwithstanding Section 11.1 of the Reorganization Agreement,
     any statement to the press (or to a third party with the intent that the
     third party forward the statement to the press) concerning a Problem in
     which one party allocates blame for the Problem to another party requires
     the written approval of all parties, which consent will not be unreasonably
     withheld.

16.3 Terms of Agreement.  No party will disclose the terms and conditions of
     this Agreement or proposed Change Requests except to the other parties or
     as reasonably required to perform its obligations or as required by law, or
     for such disclosures as may be necessary or desirable in the ordinary
     course of such party's business including, without limitation, disclosures
     with attorneys, consultants, accountants and similar professionals.

17.  Termination, Term

17.1 Term.  The term of this Agreement begins as of the Effective Date, and ends
     on December 31, 2003, unless terminated earlier pursuant to Sections 17.2
     or 17.3.

17.2 Termination for Cause (Kundigung aus wichtigem Grund).

     17.2.1  Each of DBAG and Ceres may terminate this Agreement, if the other
             party after receiving a written reminder (Mahnung) setting a
             reasonable

                    Software Maintenance Agreement - Final
<PAGE>

                                      -28-

             deadline for compliance, has not complied with terms of an
             agreement resolving a Problem within two weeks of conclusion of a
             Problem Report procedure relating to such Problem. They may also
             terminate this Agreement with immediate effect without first
             implementing the Problem Report procedure if the other party
             intentionally commits a material breach of the obligation of
             confidentiality (Section 15).

     17.2.2  The Eurex Entities may terminate this Agreement for cause, if CBOT
             and/or Ceres are breaching their obligations under the Network
             Restriction. Either of the Eurex Entities, on the one hand, and
             CBOT and Ceres, on the other hand, may terminate this Agreement for
             cause in the event the other party is in breach with its
             obligations under the Product Restrictions.

     17.2.3  DBAG may terminate this Agreement upon the public announcement of,
             or the filing of a notice with the SEC relating to, a Change of
             Control of any member of the CBOT Group other than C-B-T
             Corporation and its legal successors or assigns (to the extent it
             remains in its present lines of business), provided that (i) all
             Service Fees that would have to be paid by Ceres (to be calculated
             on the basis of the average payment of Service Fees until
             declaration of termination) throughout the entire regular term of
             the Agreement (i.e. through December 31, 2003) are immediately due
             and payable, and (ii) DBAG will ensure termination assistance for a
             period no longer than two months from the declaration of
             termination by DBAG, and (iii) in the event a public announcement
             or SEC filing takes place after December 31, 2002, only the closing
             of the so announced or notified transaction shall trigger the
             termination right and termination assistance shall in such case be
             made available for a period of four months from the declaration of
             termination, but in no event beyond December 31, 2003. Termination
             assistance shall mean that DBAG shall continue to perform the
             Maintenance Services, and Ceres shall have the obligation to pay
             for the Maintenance Services, each as set forth in this Agreement,
             through the end of the termination assistance. To the extent
             required by a corresponding written notice of Ceres, DBAG must
             decide within 30 days

                    Software Maintenance Agreement - Final
<PAGE>

                                      -29-

             of receipt of such notice whether or not to exercise the right to
             terminate pursuant to this section.

     17.2.4  DBAG may terminate this Agreement upon the public announcement of,
             or the filing of a notice with the SEC relating to, the
             introduction of a system succeeding the System after the end of the
             Follow-up Agreements (as defined in the Reorganization Agreement),
             provided that (i) all Service Fees that would have to be paid by
             Ceres (to be calculated on the basis of the average payment of
             Service Fees until declaration of termination) throughout the
             entire regular term of the Agreement (i.e. through December 31,
             2003) are immediately due and payable, and (ii) DBAG will ensure
             termination assistance (as described in Section 17.2.3) for a
             period no longer than two months from the declaration of
             termination by DBAG, and (iii) this Section 17.2.4 applies only in
             the event such public announcement or SEC filing takes place before
             December 31, 2002 and if another exchange or contract market, or
             any of its respective Affiliates, is directly or indirectly
             involved in providing the succeeding systems or services related
             thereto. This Section 17.2.4 does not apply with regard to the
             introduction of any system which solely relates to open outcry
             trading, clearing or market surveillance. To the extent required by
             a corresponding written notice of Ceres, DBAG must decide within 30
             days of receipt of such notice whether or not to exercise the right
             to terminate pursuant to this section.

     17.2.5  This Section 17.2 does not limit the rights of the parties to
             terminate this Agreement for cause (Kundigung aus wichtigem Grund)
             generally available under German law.

17.3 No Termination for Convenience.  For the avoidance of doubt, no party shall
     be entitled to terminate this Agreement for convenience.

17.4 Termination of Other Agreements.  This Agreement shall terminate in the
     event either of the Non-exclusive Software License Agreement or the New
     Systems Operations Agreement terminates as of the date on which such
     agreement terminates. DBAG will be entitled to payment on a time-and-
     materials basis for

                    Software Maintenance Agreement - Final
<PAGE>

                                      -30-

     the work performed after termination for the purpose of winding down. For
     the avoidance of doubt, this Agreement is deemed to be terminated pursuant
     to Section 17.2.3 in the event that the Non-Exclusive Software License
     Agreement is terminated pursuant to its Section 8.2 or the New Systems
     Operations Agreement is terminated pursuant to its Section 17.2.3.

18.  General Provisions

18.1 Notices.  Except as expressly set forth to the contrary in this Agreement,
     all notices, requests or consents required or permitted under this
     Agreement must be in writing and must be either (i) delivered by hand, (ii)
     mailed by certified or registered mail, addressed to the recipient, postage
     paid, and registered or certified with return receipt requested, (iii) sent
     by overnight courier, or (iv) transmitted by facsimile transmission, with
     confirmation of transmission, and are given when received by the recipient.
     All notices, requests and consents to be sent to a party must be sent to or
     made at the address given for that party in the heading of this Agreement,
     or such other address as that party may specify by notice to the other
     parties.

18.2 No Side Agreements, Amendments.  While there are related agreements to
     which some or all of the parties hereto are parties (the Reorganization
     Agreement, the Non-exclusive License Agreement, the New Systems Operations
     Agreement and the surviving provisions of the Preexisting Agreements), this
     Agreement constitutes the complete agreement of the parties with respect to
     the matters set forth herein, and there are no oral or written side
     agreements to this Agreement. Amendments or supplements to this Agreement,
     including this Section 18.2, must be in writing and signed by all of the
     parties to be effective.

18.3 Savings Clause.  The invalidity of individual provisions in this Agreement
     will not result in the entire Agreement being invalid. An invalid provision
     will be deemed to have been replaced by a valid provision which comes as
     close as possible to achieving the commercial purpose of the invalid
     provision.

18.4 Assignment.  No party may assign this Agreement or any portion hereof, by
     Change of Control, operation of law or otherwise, without obtaining the
     prior

                    Software Maintenance Agreement - Final
<PAGE>

                                      -31-

     written consent of the other parties. The parties will grant their consent
     to the assignment of rights or obligations by a party to an Affiliate of
     such party if (i) the assigning party remains liable for any assigned
     obligations as a jointly and severally liable guarantor
     (selbstschuldnerische Burgschaft) with the assignee, (ii) the assigning
     party, together with its rights and obligations under this Agreement,
     assigns its rights and obligations, if any, under the Reorganization
     Agreement, the Non-exclusive Software License Agreement and the New Systems
     Operations Agreement to the assignee, or (iii) in case of Ceres being the
     assigning party, CBOT assumes a performance guarantee as set forth in
     Section 18.10 with regard to the assignee. The exceptions to the definition
     of "Change of Control" for CBOT and SWX do not require the consent of the
     other Parties under this Section 18.4. For the avoidance of any doubt, the
     above shall not entitle a party to invoke a preliminary injunction or to
     seek any other remedy in order to prevent the occurrence of a Change of
     Control.

18.5 Applicable Law.  This Agreement is governed by and subject to the laws of
     the Federal Republic of Germany, to the exclusion of its conflicts of law
     rules. The laws under the UN Treaty on the International Sale of Goods
     shall not apply.

18.6 Language.  English is the official language of this Agreement. Any notice,
     request or consent must be in English.

18.7 Survival.  Any provisions of this Agreement that can reasonably be
     interpreted as being intended to survive the termination of this Agreement
     will survive the termination of this Agreement.

18.8 Further Assurances.  The parties will execute and deliver such further
     documents and instruments, make such other filings and take such further
     actions in addition to those contemplated herein as may be reasonably
     requested by the other parties (other than the material payment of money)
     to carry out the intents and purposes of this Agreement.

18.9 Arbitration Procedure.  Except with regard to actions seeking temporary or
     permanent injunctive relief, any dispute arising under or in connection
     with this Agreement between or among any parties to this Agreement will be
     finally settled by arbitration in accordance with the arbitration rules of
     the United Nations

                    Software Maintenance Agreement - Final
<PAGE>

                                      -32-

       Convention on International Trade Law (the "UNCITRAL Rules"). Prior to
       commencing arbitration, the parties, to the extent applicable, must have
       complied with the Problem procedures set forth in Section 8.

       18.9.1  The arbitration will be conducted by three (3) arbitrators. Such
               arbitrators are to be appointed in accordance with Article 7 of
               the UNCITRAL Rules.

       18.9.2  Where there are multiple parties, whether as claimant or as
               respondent the multiple claimants, jointly, and the multiple
               respondents, jointly, shall nominate an arbitrator pursuant to
               Article 7 of the UNCITRAL Rules. In the absence of such a joint
               nomination and where all parties are unable to agree to a method
               for the constitution of the Arbitral Tribunal, the London Court
               of International Arbitration (the "Appointing Authority" for the
               purposes of the application of the UNCITRAL Rules) may appoint
               each member of the Arbitral Tribunal and shall designate one of
               them to act as chairman. In such case the Appointing Authority
               shall be at liberty to choose any person it regards as suitable
               to act as arbitrator.

       18.9.3  The place of arbitration shall be London. The proceedings shall
               be conducted in the English language exclusively.

       18.9.4  The parties acknowledge that irreparable damage may occur in the
               event of breach of any of the terms of this Agreement.

       18.9.5  If an arbitration under this Agreement coincides with an
               arbitrable claim under the New Systems Operations Agreement, all
               such matters must be asserted in the same arbitration
               proceedings.

18.10  Performance Guarantee.

       18.10.1 CBOT hereby unconditionally and irrevocably guarantees to DBAG
               the full and timely performance by Ceres and any of its permitted
               assigns or legal successors (individually and collectively
               referred to as "Ceres") of all of Ceres' obligations (the
               "Performance Obligations") under or pursuant to this Agreement,
               including, without limitation, the indemnity

                    Software Maintenance Agreement - Final
<PAGE>

                                      -33-

               obligations hereunder, as and when the same shall be due to be
               performed under this Agreement, and all liabilities of Ceres
               under this Agreement in the event of any breach by Ceres of any
               term hereof. CBOT hereby waives any provision of any statute,
               regulation or judicial decision otherwise applicable hereto which
               restricts or in any way limits the rights of an obligee against a
               guarantor or surety following a default or failure of performance
               by an obligator with respect to whose obligations the guarantee
               or surety is provided.

       18.10.2 DBAG may proceed to protect and enforce any or all of its rights
               under this Section 18.10 pursuant to Section 18.9, whether for
               the specific performance of any covenants or agreements of Ceres
               under or pursuant to this Agreement, and shall be entitled to
               require and enforce the performance by CBOT of all acts and
               things required to be performed hereunder by Ceres.

       18.10.3 CBOT shall not be entitled to and does hereby waive any and all
               defenses now or hereafter available to guarantors, sureties and
               other secondary parties at law or in equity, with the exception
               of any defenses Ceres may have against DBAG that are available to
               CBOT.

       18.10.4 DBAG shall be entitled to proceed on first demand directly
               against CBOT in respect of any Performance Obligation hereunder
               without any requirement that it first make any demand against or
               exhaust any remedies available to it from Ceres or to take any
               other steps.

<TABLE>
<S>                                               <C>
Board of Trade of the City of Chicago, Inc.       Ceres Trading Limited Partnership, by
                                                  Electronic Chicago Board of Trade, Inc., its
                                                  managing general partner

By:  /s/ David J. Vitale                          By:  /s/ David J. Vitale
    ________________________________________           ____________________________________________

Date:      07/10/02                               Date:    07/10/02
</TABLE>

                    Software Maintenance Agreement - Final
<PAGE>

                                      -34-

<TABLE>
<S>                                               <C>
Deutsche Borse AG                                 SWX Swiss Exchange

By:  /s/ Rudolf Ferscha                           By:  /s/ Rudolf Ferscha
    ---------------------------------                 ---------------------------------

Date:   07/11/02                                  Date:   07/11/02
      -------------------------------                   -------------------------------
Eurex Frankfurt AG                                Eurex Zurich AG

By:   /s/ Rudolf Ferscha                          By:  /s/ Rudolf Ferscha
     --------------------------------                  --------------------------------

Date:   07/11/02                                  Date:   07/11/02
     --------------------------------                  --------------------------------
</TABLE>

                    Software Maintenance Agreement - Final
<PAGE>

Schedule 1.1 to the Software Maintenance Agreement

                     Glossary of Defined Terms

"Acceptance"                  means, with respect to a Deliverable, acceptance
                              of such Deliverable as set forth in Section 9.4.

"Acceptance Form"             is defined Section 9.4.

"Access Points"               means the "Access Points" as defined in the New
                              Systems Operations Agreement.

"Affiliate"                   means an "Affiliate" as defined in the
                              Reorganization Agreement.

"Agreement"                   is defined in the Heading and includes the
                              Schedules.

"Appointing Authority"        is defined in Section 18.9.2.

"Business Day"                means a day where banks are open in Chicago,
                              Frankfurt am Main and Zurich.

"CBOT"                        is defined in the initial paragraph of this
                              Agreement.

"CBOT Electronic Market"      is defined in the Recitals, Section B.

"CBOT/Eurex Alliance, L.L.C." has the meaning as set forth in the Reorganization
                              Agreement.

"Ceres"                       is defined in the initial paragraph of this
                              Agreement.

"Change of Control"           means a "Change of Control" as defined in the
                              Reorganization Agreement.

"Change Request"              is defined in Section 4.4.

"Chicago Backend"             is defined in the Recitals, Section B.

"Claim"                       is defined in Section 12.4.

"Class 1 Deviation"           is defined in Section 9.4.1.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 1.1 to the Software Maintenance Agreement

                                      -2-

"Class 2 Deviation"           is defined in Section 9.4.1.

"Class 3 Deviation"           is defined in Section 9.4.1.

"Confidential Information"    is defined in Section 15.1.

"DBAG"                        is defined in the initial paragraph of this
                              Agreement.

"DBAG Catalogue of Prices"    is defined in Section 10.2.

"DBS"                         is defined in the Recitals, Section B.

"Deficiency Report"           means the Deficiency Report described in Section
                              9.1.

"Deliverables"                is defined in Section 4.3.

"Deviations"                  is defined in Section 9.1.

"Effective Date"              means the "Effective Date" as defined in the
                              Reorganization Agreement.

"Escalation Committee"        is defined in Section 5.6.

"Eurex Entities"              is defined in the Recitals, Section A.

"Eurex Exchanges"             is defined in the Recitals, Section A.

"Eurex Frankfurt"             is defined in the initial paragraph of this
                              Agreement.

"Eurex Group"                 means "Eurex Group" as defined in the
                              Reorganization Agreement.

"Eurex Manager"               means the Eurex Manager described in Section 5.5.

"Eurex Operations"            means all operations using the Eurex Software as
                              technological basis, including, without
                              limitation, the Eurex Exchanges, but excluding the
                              CBOT Electronic Market.

"Eurex Software"              means the "Eurex Software" as defined in the
                              Reorganization Agreement.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 1.1 to the Software Maintenance Agreement

                                      -3-

"Eurex Zurich"                is defined in the initial paragraph of this
                              Agreement.

"Facilities"                  is defined in Section 5.3.3.

"Freelancer"                  is defined in Section 5.7.

"Licensed Programs"           means the "Licensed Programs" as defined in the
                              Non-exclusive Software Licence Agreement.

"Maintenance Services"        is defined in Section 2.1.

"Master Software Development  is defined in the Recitals, Section B.
 Agreement"

"Network"                     is defined in the Recitals, Section B.

"Network Restriction"         means the "Network Restriction" as defined in the
                              Reorganization Agreement.

"New Systems Operations       is defined in Section 2.2.
 Agreement"

"Non-exclusive Software       is defined in the Recitals, Section C.
 License Agreement"

"Ownership Parties"           is defined in the Recitals, Section B.

"Patent"                      is defined in Section 14.1.5.

"Performance Obligations"     is defined in Section 18.10.1.

"Preexisting Agreements"      means the "Preexisting Agreements" as defined in
                              the Reorganization Agreement.

"Problem"                     is defined in Section 8.1.

"Problem Report"              is defined in Section 8.3.

"Product Restrictions"        means the "Product Restrictions" as defined in the
                              Reorganization Agreement.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 1.1 to the Software Maintenance Agreement

                                      -4-

"Program Manager"             means the Program Manager described in Section
                              5.4.

"Release a/c/e 1.0"           shall have the meaning as set forth in the Non-
                              exclusive License Agreement.

"Reorganization Agreement"    is defined in the Recitals, Section B.

"Schedule"                    means a schedule to this Agreement.

"Service Fees"                is defined in Section 10.1.

"Services"                    is defined in Section 4.3.

"Sign-Off"                    means, with respect to a Deliverable, sign off of
                              such Deliverable as set forth in Section 9.1.

"Sign-Off Form"               means the Sign-Off Form described in Section 9.1.

"Software License Agreement"  is defined in the Recitals, Section B.

"SWX"                         is defined in the initial paragraph of this
                              Agreement.

"System"                      means the "System" as defined in the
                              Reorganization Agreement.

"System Investigation         is defined in Section 4.5.
 Request"

"Tasks"                       is defined in Section 4.3.

"Test Procedures"             are any specific procedures set forth in the
                              applicable Change Requests.

"Texas Case"                  is defined in Section 14.1.5.

"UNCITRAL Rules"              is defined in Section 18.9.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 4.1.1 to the Software Maintenance Agreement

                            Application Maintenance

Nothing contained in this Schedule 4.1.1 is intended to modify Sections 4.4 and
4.5 of the Agreement.

1.   Preventive and Corrective Maintenance

1.1  DBAG will perform Preventive Maintenance and Corrective Maintenance.
     Preventive Maintenance is the implementation of a change in the Licensed
     Programs to improve existing functionality or performance prior to a
     problem in production becoming apparent. Corrective Maintenance is the
     implementation of a change in the Licensed Programs to correct a problem
     after it has become apparent in production.

1.2  Either DBAG or Ceres can initiate Preventive Maintenance or Corrective
     Maintenance by submitting a System Investigation Request to the other party
     (in each case with a copy to the Eurex Entities) in which the problem and,
     to the extent reasonably feasible, the appropriate corrective measures are
     described.  In the case of Corrective Maintenance, the initiating party
     will also classify the problem according to the following criteria:

     Class 1:  The problem prevents the Licensed Programs as a whole from
               operating or would have such an impact on the operation that the
               use in production is not commercially viable.

     Class 2:  The problem has a materially detrimental impact on the operation
               of the Licensed Programs as a whole, although it can still be
               used in production in a commercially viable manner, if necessary
               with reasonable work-around efforts. If a combination of Class 2
               and Class 3 problems prevents the Licensed Programs as a whole
               from being used in a commercially viable manner the combination
               of Class 2 and Class 3 problems constitutes a Class 1 problem.

Class 3:       These are any other problems. If a combination of Class 3
               problems prevents the Licensed Programs as a whole from operating
               or would have such an impact on the operation that use in
               production is not commercially viable, the combination of Class 3
               problems constitutes a Class 1 problem. If a combination of Class
               3 problems has a materially detrimental impact on the operation
               of the Licensed Programs as a whole, although it can still be
               used in production in a commercially viable manner, if necessary
               with reasonable work-around efforts, the

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 4.1.1 to the Software Maintenance Agreement

                                      -2-

               combination of Class 3 problems constitutes a Class 2 problem.

1.3  In the case of Preventive Maintenance and Class 3 problems the Ceres
     Program Manager will inform the DBAG Program Manager and the Eurex Manager
     whether the changes in the Licensed Programs should be implemented
     independent of any new release which is already planned or whether the
     changes should be implemented beforehand in the then currently used version
     of the Licensed Programs.  In the case of Corrective Maintenance for Class
     1 and Class 2 problems, DBAG will implement the appropriate changes in the
     Licensed Programs without undue delay.

1.4  The procedures for notifying each other about maintenance (e.g., Help Desk)
     shall be as set forth in the New Systems Operations Agreement. These
     procedures will be refined during the course of this Agreement.

2.   Implementation of Changes

2.1  On the occasion of each Service Investigation Request, DBAG will create a
     System Investigation Request Report ("SIR Report") in its problem tracking
     system. The SIR Report contains the description of the problem, the
     solution and, if appropriate, test cases. DBAG will regularly update the
     SIR Report to reflect the progress on implementing the changes. DBAG will
     provide copies of the SIR Report and all updates to Ceres and the Eurex
     Entities.

2.2  DBAG will make the appropriate changes in the Licensed Programs and notify
     Ceres and the Eurex Entities that the changes are ready for testing in the
     test environment. The parties will then jointly test the changes in the
     test environment, and DBAG will accept the changes upon successful
     conclusion of the tests.

2.3  After acceptance of the changes, DBAG will install them in the Production
     Environment (as described in Section 4.1 of Schedule 10.2 to the New
     Systems Operations Agreement) with the next release (in the case of Class 3
     problems) or immediately in the case of Class 1 and Class 2 problems. In
     the latter case the changes will also be included in the next release if
     appropriate.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 4.1.1 to the Software Maintenance Agreement

                                      -3-
3.   Pricing

Unless expressly agreed otherwise in writing, DBAG will invoice all work on a
time-and-materials basis up to a maximum amount of  Euro [**] per calendar year,
provided that this cap will not apply with regard to fixing efforts on
functional enhancements and First Subsequent Release (as defined in the Non-
exclusive Software License Agreement) for work identified before the end of the
first week after the production start of such functional enhancements or First
Subsequent Release.  However, DBAG will provide Ceres an estimate of the
anticipated costs for completing work under a System Investigation Request (and,
if appropriate, updates of the estimate) as soon as reasonably possible.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

SCHEDULE 4.4 TO THE SOFTWARE MAINTENANCE AGREEMENT

                            MSDA Change Requests and
                         System Investigation Requests

The following Change Requests and System Investigation Requests have been
initiated but not completed under the Master Software Development Agreement:

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule  4.4 to the Software Agreement

                                      -2-

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
  ID#           Title            Non-recurring impacts            Comment                Monthly recurring impact
                                   on costs in (Euro)     (non-recurring impacts)           on costs in (Euro)
-----------------------------------------------------------------------------------------------------------------------
<S>     <C>                     <C>                      <C>                            <C>
CR082   GATE Maintenance        (Euro)           [**]    fixed                          (Euro) [**] per MISS annually
-----------------------------------------------------------------------------------------------------------------------
CR085   Windows 2000 Support    (Euro)           [**]    estimated;
                                                         Necessary changes to the ace
                                                         software (resulting from
                                                         Windows 2000 requirements)
                                                         with an effort of more than
                                                         20wd as well as the Windows
                                                         2000 Kit Build, -Test and
                                                         -Distribution is not covered
                                                         by thisCR and have to be
                                                         requested separate.
-----------------------------------------------------------------------------------------------------------------------
CR087   Autoleg                 (Euro)           [**]    fixed
-----------------------------------------------------------------------------------------------------------------------
CR090   BCP Production          (Euro)           [**]    (Euro) [**] fixed;             (Euro)              [**]
                                                         (Euro) [**] estimated
-----------------------------------------------------------------------------------------------------------------------
CR091   BCP Market Supervision                                                          (Euro)[**] per workspace
-----------------------------------------------------------------------------------------------------------------------

<CAPTION>
-----------------------------------------------------------------
  ID#                   Comment                       Status
                  (recurring impacts)
-----------------------------------------------------------------
<S>          <C>                                 <C>
CR082        fixed                               Not approved yet
-----------------------------------------------------------------
CR085                                            Approved

-----------------------------------------------------------------
CR087                                            Approved
-----------------------------------------------------------------
CR090        fixed                               Approved

-----------------------------------------------------------------
CR091        fixed;                              Approved
             only applicable in calendar months
             in which the infrastructure was
             utilized by CBOT Market Operations
-----------------------------------------------------------------
</TABLE>

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

SCHEDULE 4.4 TO THE SOFTWARE MAINTENANCE AGREEMENT

                                      -3-

Last Update: Thursday 23rd May 2002

Currently Open SIRs

<TABLE>
<CAPTION>
     ------------------------------------------------------------------------------------------------------------------------------
     SIR Number              Comments                                            Decision     Effort (MD)      Short Description
-----------------------------------------------------------------------------------------------------------------------------------
<S>    <C>         <C>                                                           <C>         <C>               <C>
  1    14745       Will be implemented with #18578                                           (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
  2    17633       CBOT Approved - In Implementation                                         (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
  3    17948       CBOT Approved - Installed in simulation 10.05.02 Test failed.             (Euro)   [**]            [**]
                   Re-opened
-----------------------------------------------------------------------------------------------------------------------------------
  4    18095       Set to HOLD and await further information from CBOT                       (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
  5    18434       In Implementation                                                         (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
  6    18577       CBOT Approved - In Implementation - see ace Open CRs sheet                (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
  7    18911       CBOT Approved - Fixed - Waiting on 17948 (after #3)                       (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
  8    18968       CBOT Approved - In Implementation                                         (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
  9    19016       CBOT Approved - In Implementation (after #8)                              (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 10    19107       CBOT Approved - Implementation Complete                                   (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 11    19221       CBOT Approved - In Implementation                                         (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 12    19308       DB Investigation ongoing                                                  (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 13    19327       Await CBOT approval to investigate further                                (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 14    19384       CBOT Approved                                                             (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 15    19388       DB Investigation ongoing                                                  (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 16    19389       DB Investigation ongoing                                                  (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 17    19411       CBOT Approved - Implementation Complete                                   (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 18    19445       CBOT Approved                                                             (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
 19    19503       DB Investigation ongoing                                                  (Euro)   [**]            [**]
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 4.4 to the Software Maintenance Agreement

                                      -4-

SIRs fixed and in simulation (Highlighted means taken into simulation in the
last period)

<TABLE>
<CAPTION>
   --------------------------------------------------------------------------------------------------------------------------------
   SIR Number                   Comments                    In Simul.           Effort (MD)             Short Description
-----------------------------------------------------------------------------------------------------------------------------------
<S>                             <C>                         <C>                 <C>                     <C>
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

SIRs fixed and taken to production in the last period

<TABLE>
<CAPTION>
   --------------------------------------------------------------------------------------------------------------------------------
   SIR Number                   Comments                    In Prod.            Effort (MD)             Short Description
-----------------------------------------------------------------------------------------------------------------------------------
<S>                             <C>                         <C>                 <C>                     <C>
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Next Front-end kit

<TABLE>
<CAPTION>
   --------------------------------------------------------------------------------------------------------------------------------
   SIR Number                   Comments                                        Effort (Euro)           Short Description
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>            <C>                                                   <C>              <C>          <C>
1    16913          Fixed - Await next front-end kit                      (Euro)              -                [**]
-----------------------------------------------------------------------------------------------------------------------------------
2    18153          Fixed - Await next front-end kit                      (Euro)           [**]                [**]
-----------------------------------------------------------------------------------------------------------------------------------
3    18607          Fixed - Await next front-end kit                      (Euro)              -                [**]
-----------------------------------------------------------------------------------------------------------------------------------
4    19414          Fixed - SIR resulted from W2K tests                   (Euro)              -                [**]
-----------------------------------------------------------------------------------------------------------------------------------
5    19417          Fixed - SIR resulted from W2K tests                   (Euro)              -                [**]
-----------------------------------------------------------------------------------------------------------------------------------

6    19418          Fixed - SIR resulted from W2K tests                   (Euro)              -                [**]
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 5.4 to the Software Maintenance Agreement

                        Program Managers/Eurex Manager

--------------------------------------------------------------------------------
                              Manager                      Substitute
--------------------------------------------------------------------------------
       DBAG
--------------------------------------------------------------------------------
      Ceres                Mary Mc Donnell                  Bernard Dan
--------------------------------------------------------------------------------
      Eurex                  Thomas Lenz                  Michael Widmer
--------------------------------------------------------------------------------

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 4.1.1 to the Software Maintenance Agreement

                          CFTC Regulation 1.59 Letter

Mary McDonnell
Board of Trade of the City of Chicago, Inc.
141 West Jackson Boulevard
Chicago, Illinois 60604 USA

Re:  CFTC Regulation 1.59

Dear Ms. McDonnell:

I am retained or employed and supervised by Deutsche Borse Systems AG/Eurex
Zurich AG/Eurex Frankfurt AG in connection with the Software Maintenance
Agreement or the provision of the services described therein for the benefit of
the CBOT Electronic Market.  I have been provided with and reviewed the attached
copy of CFTC Regulation 1.59 and hereby agree to abide by its terms.

I consent to the jurisdiction of the Commodity Futures Trading Commission (CFTC)
solely in connection with any inquiry or proceeding relating to CFTC Regulation
1.59.

Sincerely,

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 10.2 to the Software Maintenance Agreement

                           DBAG Catalogue of Prices

1.   General Provisions

1.1  All amounts are in Euro (Euro), without VAT.

1.2  The descriptions of services in this catalogue are solely for the purpose
     of identifying the items for which remuneration is charged and shall not be
     used for interpreting the scope of work.  The technical descriptions of
     services are set forth in other Schedules and, if applicable, in any Change
     Requests.

2.   Software Research and Development, Consulting

2.1  Description of Work

     These services are software research and development as well as consulting
     and support services including the selection, development, introduction and
     maintenance of software, operation and project management, all as described
     in more detail in the Agreement, its Schedules and in any Change Requests.

2.2  Remuneration

     Unless a fixed price is agreed, the following hourly rates apply for work
     performed by individuals in the following DBAG classifications, regardless
     of whether the individuals are DBAG employees, Freelancers or subcontractor
     employees.

                  -------------------------------------------
                    Price Levels             Price per hour
                  -------------------------------------------
                    Analyst                    (Euro) [**]
                  -------------------------------------------
                    Junior Consultant          (Euro) [**]
                  -------------------------------------------
                    Specialist                 (Euro) [**]
                  -------------------------------------------
                    Consultant                 (Euro) [**]
                  -------------------------------------------

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 10.2 to the Software Maintenance Agreement.

                                     -2-

                  -------------------------------------------
                    Price Levels             Price per hour
                  -------------------------------------------
                    Senior Consultant         (Euro) [**]
                  -------------------------------------------
                    Manager                   (Euro) [**]
                  -------------------------------------------
                    Senior Manager            (Euro) [**]
                  -------------------------------------------

     These hourly rates cover all costs incurred in connection with the
     performance of the order, except for specific disbursements (e.g., usage of
     the provided Development Environment (as defined in Section 3.1 below),
     travel in accordance with the DBAG standard travel policies).  DBAG
     classifies personnel according to its reasonable discretion.  In the case
     of Freelancers and subcontractor employees, the classification is based on
     a comparison of the individual's position and duties to employees of DBAG.
     DBAG has informed Ceres' Program Manager about the standard travel
     policies.  If these policies change and the change would result in extra
     costs to Ceres, the extra costs will not be charged unless Ceres has been
     notified of such change.  Travel time will be charged at one half of the
     above hourly rates, and then only for (i) the time in which the individual
     could have been working if the individual was not traveling, or (ii) the
     loss of the individual's normal time off on weekends or holidays, up to a
     maximum of 8 hours for any such day.

3.   Development Environment

3.1  Description

     DBAG provides and operates the infrastructure necessary for the development
     and update of the Eurex Software ("Development Environment").  For the
     purpose of planning the required number of software development
     workstations, DBAG and Ceres will establish a utilization plan by 30
     September of each year for the next calendar year.  The plan will identify
     the number of required workstations per month for the following year.  In
     order to save costs, the frontend systems are also used for other
     development.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 10.2 to the Software Maintenance Agreement.

                                     -3-

     A.   Development Frontend Hardware and Software Infrastructure:

          .    provision of desktop development and office communication
               frontend hardware and software (including servers),

          .    setup of the workstations,

          .    removal management,

          .    creation of specific software images,

          .    installation of new server software releases,

          .    installation of new desktop software releases,

          .    system management of the servers,

          .    hardware and software support of the desktop workstations.

     B.   Development Backend Hardware and Software Infrastructure:

          .    installation of the required software on the backend systems,

          .    monitoring the architecture and the application,

          .    permanent control of the system setups,

          .    conclusion and administration of the required license and
               maintenance agreements.

     C.   Performance Test Environment:

          The "Performance Test Environment" represents a scaled-down image of
          the Production Environment.  It serves to monitor the impact of
          software modifications on performance.

     D.   Acceptance Test Environment:

          The "Acceptance Test Environment" is provided for the acceptance of
          new releases of the Eurex Software.  This environment also represents
          a scaled-down image of the Production Environment.  The Acceptance
          Test Environment is also used for other exchanges.

                Schedules to the Software Maintenance Agreement
                                     Final
<PAGE>

Schedule 10.2 to the Software Maintenance Agreement.

                                      -4-

3.2  Remuneration

The remuneration for the use of the Development Environment is not contained in
the hourly rates for DBAG's personnel and DBAG's subcontractors (working on an
hourly basis and not on a fixed price basis) and will be charged separately with
(Euro) [**] per hour and person.  With respect to Ceres' personnel (including
Freelancers), Ceres' subcontractors and DBAG's subcontractors working on a fixed
price basis, DBAG will charge (Euro) [**] per hour and person (based on 8 hours
per day) for the use of the Development Environment.

                Schedules to the Software Maintenance Agreement
                                     Final

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