Document:

Exhibit 10.2(a)
	 

	 
		ADDENDUM TO INSTITUTIONAL FUTURES ACCOUNT AGREEMENT
 FOR CITIGROUP
		FUTURES FUNDS
	 

	 
		This Addendum (the “Addendum”) amends and supplements the
		Institutional Futures Account Agreement (the “Agreement”) entered
		into on the same date as this Addendum between the fund identified on the
		signature line below (the “Fund”), Citigroup Global Markers Inc. (CGM
		Inc.), and Citigroup Managed Futures LLC (“CMF”).  Unless
		otherwise defined in this Addendum, all capitalized terms shall have the
		meanings defined in the Agreement.
	 

	 
		1. As soon as practicable following the conclusion of the Initial
		Offering Period (as defined in the Private Placement Offering Memorandum and
		Disclosure Document of the Fund), the Fund shall deposit or cause to be
		deposited the capital contributions to the Fund in the Account.  The Fund
		will maintain all of its assets, as they from time to time exist, in the
		Account, except for such amounts as may be necessary or desirable to be
		maintained in a bank account or with a broker to facilitate OTC currency
		transactions and the payment of Fund expenses, redemptions, or distributions.
		 CMF will inform CGM Inc. immediately in writing if, at any time, CMF, CGM
		Inc., and/or their principals or employees (collectively, “Proprietary
		Owners”) collectively own 10 percent or more of the Fund.  At any
		time that Proprietary Owners cease to own 10 percent or more of the Fund, CMF
		will inform CGM Inc. immediately in writing of that fact.  At any time
		when Proprietary Owners collectively own 10 percent or more of the Fund, the
		Fund and CMF understand and agree that, pursuant to Applicable Law, CGM Inc.
		will treat the Account as a proprietary account and will not segregate the
		assets of the account pursuant to the CEA or CFTC rules, or secure those assets
		of the Account used to margin foreign futures positions.
	 

	 
		2. The Fund shall pay to CGM Inc., in lieu of brokerage commissions on a
		per trade basis, a monthly flat rate brokerage fee equal to 3.75 percent per
		year of the Fund’s monthly net assets (computed by multiplying the
		Fund’s net assets as of the last business day of each month by 3.75
		percent and multiplying the result thereof by the ratio which the total number
		of calendar days in that month bears to 365 days).  The Fund shall also
		pay all floor brokerage, NFA fees, exchange, clearing, user, and give-up fees,
		or shall reimburse CGM Inc. for all such fees previously paid by CGM Inc. on
		the Fund’s behalf.  CGM Inc.’s fee may be increased or decreased
		at any time at CGM Inc.’s discretion upon written notice to the Fund.
	 

	 
		3. The Fund’s Account (including any additional accounts of the fund
		opened pursuant to the Agreement) shall be held in and administered by CGM
		Inc.’s Branch #258.  CGM Inc., on instructions from CMF, shall place
		up to 100 percent of the Fund’s assets in 90-Day U.S. Treasury Bills.
		 Those assets not so invested may be held in US dollars, in any Money
		Center Currency, as defined by CFTC rule 1.49, any other foreign currencies
		permissible under CFTC rules as in effect from time to time, or any combination
		of the preceding.  CGMI will compute interest on those assets not invested
		in 90-Day U.S. Treasury Bills according to its standard protocols.  Within
		ten (10) days following the end of a calendar month, a net sum representing the
		balance history and interest calculations of the Account (and like accounts
		managed by CMF in Branch #258) shall be credited to CMF, who will be
		responsible for crediting the Fund for such amounts as may be due in accordance
		with the Fund’s offering documents.
	 

	 
		4.  (a) In any action, suit, or proceeding to which CGM Inc. is a
		party or is threatened to be made a party by reason of the fact that it is or
		was the futures broker for the Fund (other than any action brought by or on
		behalf of the Fund), the Fund shall indemnify and hold harmless CGM Inc.,
		subject to subsection (b) below, against any loss, liability, damage, cost,
		expense (including reasonable attorney’s fees and accountant’s fees),
		judgments, and amounts paid in settlement actually and reasonably incurred by
		it in connection with such action, suit or proceeding if CGM
	 

	 
		
 

	 

	 
		

	 

	 
		

	 

	  

	 

	 
		

	 

	 
		

	 

	 
		Inc. acted in good faith and in a manner it reasonably believed to be in
		the best interests of the Fund, except that no indemnity shall be made in
		respect of any claim, issue or mater which as to CGM Inc. constituted
		negligence, misconduct, or breach of its legal obligations to the Fund, unless,
		and only to the extant that, the court or tribunal in which action or suit was
		brought shall determine upon application that, despite the adjudication of
		liability but in view of all circumstances of the case, CGM Inc. is fairly and
		reasonably entitled to indemnification for such expenses which are proven; and
		further provided that no indemnification shall be available from the Fund if
		such indemnification is prohibited by the Fund’s Private Placement
		Offering Memorandum and Disclosure Document.  The termination of any
		action, suit, or proceeding by judgment, order, or settlement, shall not, in
		itself, create a presumption that CGM Inc. did not act in good faith and in a
		manner which it reasonably believed to be in or not opposed to the best
		interests of the Fund.
	 

	 
		(b)  Any indemnification under subsection (a), above, unless ordered
		by a court, shall be made by the Fund only as authorized in the specific case
		and only upon a determination by independent legal counsel in a written opinion
		that the indemnification is proper in the circumstances and accordance with the
		terms of this Addendum.
	 

	 
		(c)  As used in this section 4, the term CGM Inc. shall include CGM
		Inc., its officers, directors, stockholders, employees, and affiliates.
	 

	 
		5. THE INTERPRETATION AND ENFORCEMENT OF THIS ADDENDUM SHALL BE GOVERNED
		BY THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS
		PRINCIPLES.  The terms of this Addendum and of the Agreement shall be
		construed so as to give maximum effect to both documents, but in the case of
		any inconsistency, the terms of this Addendum shall control.
	 

	 
		AGREED TO this 31st day of August, 2005.
	 

	 			
	
			 
				Citigroup Global Markets Inc.
			 

		  	
			 
				
			 

		  	
			 
				Citigroup Managed Futures LLC
			 

		  
	
			 
				 
			 

		  	
			 
				 
			 

		  	
			 
				 
			 

		  
	
			 
				By:  /s/  Shelley D. Ullman      
				              
			 

		  	
			 
				 
			 

		  	
			 
				By:  /s/ Jennifer Magro          
				               
			 

		  
	
			 
				Print Name:  Shelley D. Ullman        
				      
			 

		  	
			 
				 
			 

		  	
			 
				Print Name:  Jennifer Magro        
				         
			 

		  
	
			 
				Title:  Director            
				                     
				    
			 

		  	
			 
				 
			 

		  	
			 
				Title:  Director            
				                     
				    
			 

		  
	
			 
				 
			 

		  	
			 
				 
			 

		  	
			 
				Citigroup Managed Futures LLC
 399 Park Avenue/7th
				Floor
 New York, NY 10022
			 

		  
	
			 
				Smith Barney Bristol Energy Fund L.P
 
			 

			 
				Citigroup Managed Futures LLC, General Partner
			 

		  	
			 
				 
			 

		  	
			 
				          
			 

		  
	
			 
				 
			 

		  	
			 
				 
			 

		  	
			 
				 
			 

		  
	
			 
				By: /s/ Daniel McAuliffe          
				              
			 

		  	
			 
				 
			 

		  	
			 
				 
			 

		  
	
			 
				Name: Daniel McAuliffe            
				            
			 

		  	
			 
				 
			 

		  	
			 
				 
			 

		  
	
			 
				Title: CFO/Director            
				                    
			 

		  	
			 
				 
			 

		  	
			 
				 
			 

		  

	 
		

	 

	 
		
 

	 

	 
		- 2 -Exhibit 10.3
	 

	 
		AMENDED AND RESTATED AGENCY AGREEMENT

	 

	 
		SMITH BARNEY BRISTOL ENERGY FUND L.P.

	 

	 
		(A NEW YORK LIMITED PARTNERSHIP)
	 

	 
		UNITS OF LIMITED PARTNERSHIP INTEREST

	 

	 
		April 26, 2007
	 

	 
		Citigroup Global Markets Inc.
	 

	 
		Smith Barney Division
	 

	 
		388 Greenwich Street
	 

	 
		New York, New York 10013
	 

	 
		Re: Smith Barney Bristol Energy Fund L.P.
	 

	 
		Gentlemen:
	 

	 
		Citigroup Managed Futures LLC, a Delaware
		limited liability company (the “General Partner”), has caused Smith
		Barney Bristol Energy Fund L.P. (the “Partnership”) to be organized
		as a limited partnership under the New York Revised Uniform Limited Partnership
		Act, as amended and in effect on the date hereof (the “Partnership
		Act”) for the purpose of speculative trading, either directly or
		indirectly, in commodity interests including, but not limited to futures
		contracts, swaps, options, spot, and forward contracts. This Agency Agreement
		(the “Agreement”) amends and restates the initial Agency Agreement
		dated May 31, 2005. The General Partner desires to continue to raise capital
		for the Partnership by the sale of units of limited partnership interest
		therein (the “Units”) to certain qualified investors pursuant to Rule
		506 of Regulation D (“Reg. D”) under section 4(2) of the Securities
		Act of 1933, as amended (the “Securities Act”) and has increased the
		number of Units for sale. The General Partner, the Partnership, the business of
		the Partnership and the Units are described in a Private Placement Offering
		Memorandum and Disclosure Document dated February 28, 2006, prepared by the
		General Partner. The commodity trading advisor to the Partnership is currently
		SandRidge Capital Inc. As used in this Agreement, “Memorandum” refers
		to that Private Placement Offering Memorandum and Disclosure Document,
		including the appendices thereto, unless such memorandum or appendices have
		been supplemented or amended, in which case the term shall refer, from and
		after the time the supplement or amendment is delivered to you, to the
		memorandum and appendices as so amended and supplemented. 
	 

	 
		The subscribers for Units will be required
		to execute the Subscription Agreement, a copy of which is attached as an
		appendix to the Memorandum, and to tender or cause to be tendered for each Unit
		subscribed cash in the amount of the Net Asset Value per Unit and partial Unit
		(rounded to four decimal places) on the date of purchase. Subscribers for Units
		whose Subscription Agreements are accepted by the General Partner will become
		limited partners of the Partnership (the “Limited Partners”) upon the
		execution by the General Partner as 
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		attorney-in-fact for each such subscriber of
		a Limited Partnership Agreement, a copy of which is attached as an appendix to
		the Memorandum (the “Partnership Agreement”), and at the time such
		subscribers’ names are entered in the books and records of the
		Partnership.
	 

	 
			
				
				   
				

			 	
				
				  Section 1.
				

			 	
				
				  Appointment of
				  Agent.
				

			 

 

	 
		On the basis of the representations,
		warranties and covenants contained in this Agreement, but subject to the terms
		and conditions set forth in it, you are hereby appointed the non-exclusive
		agent of the Partnership during the Offering Period specified in this Section,
		for the purpose of finding subscribers for the Units for the account and risk
		of the Partnership through a private offering. The Offering Period will
		continue until the General Partner terminates it or until up to 200,000 Units
		have been subscribed (the “Continuous Offering”). Units or partial
		Units sold during the Continuous Offering will be sold at Net Asset Value per
		Unit as of the last day of each month, provided that the General Partner may
		determine to offer no Units in a particular month. Subject to the performance
		by the General Partner of all of its obligations to be performed under this
		Agreement and to the completeness and accuracy of all material representations
		and warranties of the General Partner contained in this Agreement, you hereby
		accept such agency and agree on the terms and conditions set forth in this
		Agreement to use commercially reasonable efforts during the Continuous Offering
		to find subscribers for the Units. Your agency under this Agreement, which is
		coupled with an interest and, therefore, is not terminable by the General
		Partner without your permission, will continue until the termination of the
		Continuous Offering.
	 

	 
			
				
				   
				

			 	
				
				  Section 2.
				

			 	
				
				  Representations and Warranties of
				  the Partnership and the General Partner.
				

			 

 

	 
		(a) The Partnership and the General Partner
		jointly and severally represent and warrant to you, for your benefit, and for
		the benefit of the purchasers of the Units that:
	 

	 
		(i) They will deliver to you such number of
		copies of the Memorandum as you may reasonably request, regardless of whether
		the Units are offered solely to “accredited investors” as defined in
		Rule 501(a) of Reg. D. They will not make any amendment or supplement to the
		Memorandum until they have given you a copy thereof and reasonable notice of
		the same, and no such amendment or supplement will be made if you reasonably
		object thereto.
	 

	 
		(ii) The Memorandum complies with Rule
		502(b)(2) of Reg. D and the information to be made available or furnished to
		each purchaser of a Unit pursuant to Section 5(e) hereof or otherwise will be
		sufficient to comply with Rule 502(b)(2)(iv) and 502(b)(2)(v) of Reg. D.

	 

	 
		(iii) The Memorandum will not contain any
		untrue statement of a material fact or omit to state a material fact necessary
		in order to make the statements therein, in light of the circumstances under
		which they were made, not misleading.
	 

	 
		 
	 

	 
		 
	 

	 
		-2-
	 

	 
		 
	 

	 
	 

	 

	 
		(iv) All action required under the
		Partnership Agreement or otherwise to be taken by the General Partner before
		the subscription for and sale of the Units to subscribers therefor has been
		taken or before the Monthly Closing dates, as defined in Section 4 hereof, will
		have been taken, and upon (i) payment of the consideration therefor specified
		in the Subscription Agreement, (ii) acceptance by the General Partner of each
		subscriber acceptable to the General Partner, and (iii) the payment of any
		required filing fee, the subscribers will become Limited Partners of the
		Partnership entitled to all the rights of Limited Partners under the
		Partnership Agreement and the Partnership Act. The Units, when sold and paid
		for as contemplated by the Memorandum, will represent validly authorized and
		duly issued limited partnership interests in the Partnership and will conform
		to all statements relating thereto contained in the Memorandum, including the
		Partnership Agreement. The General Partner shall maintain records required of a
		registered commodity pool operator pursuant to the rules of each of the
		Commodity Futures Trading Commission and the National Futures
		Association.
	 

	 
		(v) The Partnership is a limited partnership
		duly and validly organized pursuant to the Partnership Agreement and the laws
		of New York, and is validly existing under, and subject to, the laws of New
		York with full power and authority to conduct the business in which it proposes
		to engage as described in the Memorandum. A Limited Partner will have no
		liability in excess of his capital contribution and his share of Partnership
		assets and undistributed profits except as set forth in Section 7(f)(2) of the
		Partnership Agreement and in the Partnership Act.
	 

	 
		(vi) There is no action, suit, litigation or
		proceeding before or by any court or governmental agency, federal, state or
		local, pending or threatened against or affecting or involving the property or
		business of the General Partner, or the business of the Partnership, that would
		materially and adversely affect the condition (financial or otherwise),
		business or prospects of the General Partner or the Partnership.
	 

	 
		(vii) Neither the Partnership, the General
		Partner, nor any person directly or indirectly affiliated with either of them
		has, either directly or through an agent, sold or offered for sale or solicited
		offers to subscribe for or buy, or approached potential investors for or
		otherwise negotiated in respect of, the Units except for the activities of the
		General Partner in approaching potential investors undertaken in cooperation
		with you after advance consultation with you; and neither the Partnership, the
		General Partner nor any person directly or indirectly affiliated with any of
		them has, either directly or through an agent, participated in the organization
		or management of any partnership or other entity, or has engaged in any other
		activity, in a manner or under circumstances that would jeopardize the status
		of the offering of the Units as an exempted transaction under the Securities
		Act or under the laws of any state in which it is represented by the General
		Partner that the offering may be made.
	 

	 
		(viii) This Agreement and the Partnership
		Agreement have been duly and validly authorized, executed and delivered by and
		on behalf of the General Partner and constitute valid and binding agreements of
		the General Partner enforceable in accordance with their terms. This Agreement
		and the Subscription Agreements have been or will be duly and validly
		authorized, executed and delivered by and on behalf of the Partnership and
		constitute or will constitute valid and binding agreements of the Partnership
		enforceable in accordance with their terms.
	 

	 
		 
	 

	 
		 
	 

	 
		-3-
	 

	 
		 
	 

	 
	 

	 

	 
		(ix) The execution and delivery of this
		Agreement, the Subscription Agreements and the Partnership Agreement, and the
		consummation of the transactions contemplated in this Agreement and in the
		Memorandum, do not conflict with and will not constitute a breach of, or
		default under, the certificate of formation or limited liability company
		agreement of the General Partner or any agreement or instrument by which the
		General Partner is bound by any order, rule or regulation applicable to it of
		any court or any governmental body or administrative agency having jurisdiction
		over it.
	 

	 
		(x) A separate escrow account has been
		opened at JPMorgan Chase Bank, New York, New York (the “Escrow
		Agent”) and will be maintained for all funds received from subscribers for
		Units. All payments received from persons desiring to purchase Units will be
		deposited in such account and held in accordance with the terms of the Escrow
		Agreement entered into with the Escrow Agent. During the Continuous Offering
		the general partner may elect to hold subscription proceeds at its affiliate,
		Citibank, N.A. If the general partner elects to hold subscription proceeds at
		Citibank, N.A., it will notify you promptly and provide you with details of the
		new account.
	 

	 
			
				
				   
				

			 	
				
				  Section 3.
				

			 	
				
				  Your Representations and
				  Warranties.
				

			 

 

	 
		You represent and warrant to and for the
		benefit of the Partnership and the General Partner that:
	 

	 
		(a) You will not offer or sell the Units by
		any form of general solicitation or general advertising within the meaning of
		Rule 502(c) of Reg. D.
	 

	 
		(b) Where required by applicable state law
		or regulation, you will initiate contact with a prospective offeree only after
		determining that the suitability and sophistication standards described in the
		Memorandum are likely to be satisfied with respect to such prospective offeree
		and, where applicable, only after having obtained an executed Purchaser
		Representative Questionnaire.
	 

	 
		(c) You will not offer the Units for sale
		to, or solicit any offers to subscribe for the Units from, any offeree who
		resides in a state whose securities laws require offerees to meet specified
		qualifications unless such offeree meets such qualifications or which laws
		require offerees to receive disclosure documents until you have delivered (or
		directed the General Partner to deliver) the Memorandum, the Partnership
		Agreement, and any other agreement or document that may be attached as an
		exhibit or appendix referred to in and distributed with the Memorandum or any
		other information provided by the General Partner which is required to be
		delivered to purchasers pursuant to Rule 502(b)(2) of Reg. D to such offeree,
		and within a reasonable time prior to the Monthly Closing you shall deliver (or
		cause the General Partner to deliver) all such documents to all persons who are
		to purchase the Units, to the extent they have not theretofore received such
		documents. In connection with the offering, you will not represent to any
		person acquiring Units any material facts relating to the offering unless such
		facts are contained in the Memorandum or have been provided to you in writing
		by the General Partner.
	 

	 
		 
	 

	 
		 
	 

	 
		-4-
	 

	 
		 
	 

	 
	 

	 

	 
		(d) You will not sell Units to any person
		unless, immediately before making such sales, you reasonably believe such
		person (i) qualifies as an accredited investor under Rule 501 of Reg. D and
		(ii) meets such other suitability standards as are specified in the Memorandum
		under the caption “Who May Invest” and the other conditions contained
		in the Subscription Agreement.
	 

	 
		(e) You will maintain a record of all
		information obtained by you indicating that subscribers for Units meet the
		suitability standards referred to in Section 3(d) hereof. The General Partner
		will approve or reject the subscriptions and notify you of the same.
	 

	 
		(f) You are a member in good standing of
		National Association of Securities Dealers, Inc.
	 

	 
		(g) You are in compliance with applicable
		anti-money laundering laws (including the USA Patriot Act) and related
		regulations and shall be responsible for compliance with such laws and
		regulations with respect to purchasers of Units.
	 

	 
		(h) You acknowledge that, in its sole
		discretion, the General Partner may in the future engage additional selling
		agents for the Partnership. Compensation of any additional selling agents shall
		be determined by the General Partner in its sole discretion.
	 

	 
			
				
				   
				

			 	
				
				  Section 4.
				

			 	
				
				  Closings.
				

			 

 

	 
		During the Continuous Offering closings may
		be held as of the last business day of each month (“Monthly
		Closings”).
	 

	 
			
				
				   
				

			 	
				
				  Section 5.
				

			 	
				
				  Covenants of the Partnership and
				  the General Partner.
				

			 

 

	 
		The Partnership and the General Partner
		covenant with you that:
	 

	 
		(a) If any event occurs before a Monthly
		Closing and relates to or affects the business or condition (financial or
		other) of the General Partner or the Partnership which makes it necessary to
		amend or supplement the Memorandum in order that the Memorandum will not
		contain an untrue statement of a material fact or omit to state a material fact
		necessary in order to make the statements therein not misleading in the light
		of the circumstances existing at the time it is delivered to a subscriber, the
		General Partner forthwith will prepare and furnish to you a reasonable number
		of copies of the amendment or amendments of, or supplement or supplements to,
		the Memorandum (in form and substance satisfactory to you and your counsel)
		that will so amend or supplement the Memorandum.
	 

	 
		 
	 

	 
		 
	 

	 
		-5-
	 

	 
		 
	 

	 
	 

	 

	 
		(b) They will qualify or register the Units
		for offering and sale under, or establish the exemption of the offering and
		sale of the Units from qualification or registration under, the applicable
		securities or “blue sky” laws of the jurisdictions listed in Appendix
		I hereto and use reasonable efforts to qualify in such other jurisdictions as
		you may reasonably request in writing; provided,
		however, that none of them will be obligated to qualify as a
		dealer in securities in any jurisdiction in which it is not so qualified. The
		General Partner will promptly notify you in writing of such qualification,
		registration or exemption in each such jurisdiction and of any modification,
		rescission or withdrawal of any such qualification, registration or exemption.
		The General Partner will not consummate a sale of a Unit in any jurisdiction in
		which such sale may not be lawfully made and will not consummate any sale
		otherwise than in accordance with the restrictions and limitations, if any, set
		forth or referred to in such survey.
	 

	 
		(c) The Partnership will apply the proceeds
		from the sale of the Units for the purposes set forth under “Use of
		Proceeds” in the Memorandum in substantially the amounts and at the times
		indicated thereunder.
	 

	 
		(d) Neither they nor any person directly or
		indirectly affiliated with any of them is or will be engaged, as a general
		partner, sponsor or otherwise (i) in the organization or management of any
		partnership, fund or other entity, in a manner or under circumstances which, in
		the opinion of their counsel, will jeopardize the status of the offering of the
		Units as an exempted transaction under the Securities Act or under the laws of
		any state in which it is represented by them that the offering may be made, or
		(ii) in any offering of securities which, when integrated with the offering of
		the Units in the manner prescribed by Rule 501(a) of Reg. D and SEC Release No.
		33-4552 (Nov. 6, 1962) will jeopardize the status of the offering of the Units
		as an exempted transaction under Reg. D.
	 

	 
		(e) At all times during the Continuous
		Offering and before each Monthly Closing, they will (i) make available to each
		potential purchaser and to the purchaser’s representative, if any, such
		information (in addition to that contained in the Memorandum) concerning
		themselves, the offering and any other relevant matters, as they possess or can
		acquire without unreasonable effort or expense, and (ii) provide to each
		potential purchaser and to any purchaser representatives the opportunity to ask
		questions of, and receive answers from, them concerning the terms and
		conditions of the offering and the business of the Partnership and to obtain
		any other additional information, to the extent they possess the same or can
		acquire it without unreasonable effort or expense, necessary to verify the
		accuracy of the information furnished to the potential purchaser or any
		purchaser representatives.
	 

	 
		(f) Before each Monthly Closing, they will
		provide to each purchaser the information required to be delivered by Rule
		502(b)(2)(iii) and 502(b)(iv).
	 

	 
		(g) Within 15 days of receiving from you
		copies of information indicating that subscribers meet the suitability
		standards, the General Partner will approve or reject the subscriptions and
		notify you of the same.
	 

	 
		(h) The General Partner has filed five
		copies of a notice on Form D with the Securities and Exchange Commission no
		later than 15 days after the first sale of a Unit pursuant 
	 

	 
		 
	 

	 
		 
	 

	 
		-6-
	 

	 
		 
	 

	 
	 

	 

	 
		to Rule 503 under Reg. D. The General
		Partner shall comply with any filing requirement imposed by the laws of any
		state or jurisdiction in which sales are made. The General Partner shall
		furnish you and your counsel with copies of all filings made on Form D pursuant
		hereto.
	 

	 
		(i) The General Partner shall notify you
		within a reasonable period of time if it engages an additional selling agent
		for the Partnership.
	 

	 
			
				
				   
				

			 	
				
				  Section 6.
				

			 	
				
				  Acknowledgment of Payment of
				  Compensation to Citigroup Global Markets Inc. and its Smith Barney Financial
				  Advisors
				

			 

 

	 
		Pursuant to the Customer Agreement between
		Citigroup Global Markets Inc. and the Partnership, the Partnership shall pay to
		Citigroup Global Markets, in lieu of brokerage commissions on a per trade
		basis, a monthly flat rate brokerage fee equal to 3.75% per year of the
		Partnership’s month-end Net Assets. The brokerage fee will be credited to
		the Citigroup Global Markets branch that supports the General Partner and the
		funds it operates. The Partnership and the General Partner acknowledge that
		during the term of the Partnership a portion of such brokerage fees will be
		paid to Smith Barney financial advisors (or an additional selling agent) who
		place Units and who are registered with the CFTC as associated persons.
	 

	 
			
				
				   
				

			 	
				
				  Section 7.
				

			 	
				
				  Conditions of Your
				  Obligations.
				

			 

 

	 
		Your obligations under this Agreement are
		subject to the accuracy of and compliance with the representations and
		warranties of the Partnership and the General Partner made in Section 2 hereof,
		to the performance by the Partnership and the General Partner of their
		obligations under this Agreement.
	 

	 
		If any of the conditions specified in this
		Section 7 have not been fulfilled when and as required by this Agreement to be
		fulfilled, you may cancel this Agreement and all your obligations under it by
		notifying the General Partner of such cancellation in writing or by telegram at
		any time at or before any Monthly Closing and any such cancellation will be
		without liability or obligation of any party to any other party except as
		otherwise provided in Section 5 and Section 9 hereof.
	 

	 
			
				
				   
				

			 	
				
				  Section 8.
				

			 	
				
				  Conditions of the Obligations of
				  the Partnership and the General Partner.
				

			 

 

	 
		The obligations of the Partnership and the
		General Partner under this Agreement are subject to the performance by you of
		your obligations under the same and to the further condition that the
		Partnership and the General Partner will have received your certificate stating
		that you have offered the Units for sale, or solicited offers to subscribe for
		or buy Units, or otherwise negotiated with any person with respect to the
		Units, only in such manner and under such circumstances as are in compliance
		with the securities or “blue sky” laws of the jurisdictions
		designated by you in accordance with Section 5(b) hereof.
	 

	 
		 
	 

	 
		 
	 

	 
		-7-
	 

	 
		 
	 

	 
	 

	 

	 
			
				
				   
				

			 	
				
				  Section 9.
				

			 	
				
				  Indemnification and
				  Contribution.
				

			 

 

	 
		You will indemnify and hold harmless the
		Partnership and the General Partner and their officers, directors and
		employees, against any and all loss, liability, claim, damage, expense,
		judgment or amount paid in settlement (including reasonable attorneys’
		fees) with respect to statements or omissions in the Memorandum made with
		respect to you or your obligations under this Agreement made in reliance upon
		and in conformity with information furnished to the General Partner by you
		expressly for use in the Memorandum.
	 

	 
			
				
				   
				

			 	
				
				  Section 10.
				

			 	
				
				  Representations, Warranties and
				  Agreements to Survive Delivery.
				

			 

 

	 
		All representations, warranties and
		agreements contained in this Agreement or contained in certificates or opinions
		delivered pursuant to this Agreement will remain operative and in full force
		and effect, regardless of any investigation made by or on behalf of you or by
		or on behalf of the General Partner and will survive the Monthly
		Closings.
	 

	 
			
				
				   
				

			 	
				
				  Section 11.
				

			 	
				
				  Notices and Authority to
				  Act.
				

			 

 

	 
		All communications herein shall be in
		writing and, if sent to you, will be mailed, delivered or telegraphed and
		confirmed to you at:
	 

	 
		Citigroup Global Markets Inc.
	 

	 
		Smith Barney Division
	 

	 
		485 Lexington Avenue - 12th
		Floor
	 

	 
		New York, New York 10017
	 

	 
		Attention: Paul Weisenfeld
	 

	 
		or if sent to the General Partner, will be
		mailed, delivered or telegraphed and confirmed to the General Partner
		at:
	 

	 
		Citigroup Managed Futures LLC
	 

	 
		731 Lexington Avenue - 25th
		Floor
	 

	 
		New York, New York 10022
	 

	 
		Attention: Jennifer Magro
	 

	 
			
				
				   
				

			 	
				
				  Section 12.
				

			 	
				
				  Parties.
				

			 

 

	 
		This Agreement will inure to the benefit of
		and be binding upon you, the Partnership and the General Partner and your and
		their respective successors, heirs and representatives. This Agreement and its
		conditions and provisions are intended to be and are for the sole and exclusive
		benefit of the parties to it and their respective successors, heirs and
		representatives, and not for the benefit of any other person, firm or
		corporation unless expressly stated otherwise.
	 

	 
			
				
				   
				

			 	
				
				  Section 13.
				

			 	
				
				  Governing Law.
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		-8-
	 

	 
		 
	 

	 
	 

	 

	 
		This Agreement shall be governed by and
		construed under the laws of the State of New York.
	 

	 
			
				
				   
				

			 	
				
				  Section 14.
				

			 	
				
				  Waiver.
				

			 

 

	 
		Any party to this Agreement may waive
		compliance by the other with any of the terms, provisions and conditions set
		forth in this Agreement.
	 

	 
			
				
				   
				

			 	
				
				  Section 15.
				

			 	
				
				  Entire Agreement.
				

			 

 

	 
		This Agreement contains the entire agreement
		between the parties to it, and is intended to supersede any and all prior
		agreements between those parties, relating to the same subject matter.
	 

	 
		Section 16.
	 

	 
		The effective date of this Agreement is July
		1, 2006.
	 

	 
		[REMAINDER OF PAGE INTENTIONALLY LEFT
		BLANK]
	 

	 
		 
	 

	 
		 
	 

	 
		-9-
	 

	 
		 
	 

	 
	 

	 

	 
		If the foregoing is in accordance with your
		understanding of our agreement, kindly sign and return to us a counterpart
		hereof, whereupon this instrument, along with all counterparts, will become a
		binding agreement among you, the Partnership and the General Partner, in
		accordance with its terms.
	 

	 
		 
	 

	 
			 	
				
				  Sincerely,
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				  SMITH BARNEY BRISTOL ENERGY FUND
				  L.P.
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 By: Citigroup Managed Futures LLC
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				  (General Partner)
				

			 

 

	 
		 
	 

	 
			
				
				

			 	
				
				   
				

			 	
				
				  By: 
				

			 	
				
				  /s/ Jennifer Magro
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Jennifer Magro
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Vice President and Director
				

			 

 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  CITIGROUP MANAGED FUTURES LLC

				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 By: 
				

			 	
				
				   /s/ Jennifer Magro 
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Jennifer Magro
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Vice President and Director
				

			 

 

	 
		Confirmed, accepted and agreed to as of the
		date first above written.
	 

	 
		 
	 

	 
			
				
				  CITIGROUP GLOBAL MARKETS
				  INC.
 Smith Barney Division
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  
 By: 
				

			 	
				
				  /s/ Paul Weisenfeld
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				

			 
	
				
				  Name:  
				

			 	
				
				  Paul Weisenfeld
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  Title: 
				

			 	
				
				  Director

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