Document:

subagmt.htm

 

 

 

MA Managed Futures Fund, LP

 

SUBSCRIPTION AGREEMENT

 

 

	Any person considering subscribing for limited partnership units (“Units”) in MA Managed Futures Fund, LP (the “Fund”) should carefully read and review a current copy of the Fund’s prospectus (the “Prospectus”). The Prospectus should be accompanied by the most recent monthly report of the Fund. The date printed on the front of the Prospectus can be no later than 9 months old. If the date is more than 9 months old, new materials are available and must be utilized.
	 	 	 
	1. 	Check box in Section 1 if this is an addition to an existing account and list Limited Partner #.
	 	 	 
	2. 	Enter the name and address [ no P.O. boxes] of the investor and (if applicable) joint investor in Sections 2 and 3.
	 	 	 
	 	For UGMA/UTMA (Minor), enter the Minor’s name, followed by “Minor,” and address (no P.O. boxes) in Sections 2 and 3, and enter the custodian name in Section 6.
	 	 	 
	 	For trusts, enter the trustee(s) name(s) and the trustee(s) address in Section 2 and the trust name in Section3.
	 	 	 
	 	For corporations, partnerships, and estates, enter the officer or contact person and the entity address in Section 2 and the entity name in Section 3- investors who are not individuals may be required to furnish a copy organizing or other documents evidencing the authority of such entity to invest in the Fund. For example, trusts may be required to furnish a copy of each trust agreement, corporations must furnish a corporate resolution or by laws.
	 	 	 
	3.	If the mailing address is different from the residence address, please fill in Section 4.
	 	 	 
	4.	Enter the custodian’s name and address in Section 6 if applicable.
	 	 	 
	5. 	Check the appropriate boxes for Class A, Class C or Class I under Section 7.
	 	 	 
	6.	Enter the total dollar amount and Class of Units being invested in Section 8.
	 	 	 
	7. 	Enter the investor’s brokerage account number in Section 9 if applicable.
	 	 	 
	
8. 

 

	Enter the Social Security Number OR Taxpayer ID Number, as applicable, in Section 10 and check the appropriate box to indicate ownership type. For IRA accounts, the Taxpayer ID Number of the custodian should be entered, as well as the Social Security Number of the investor. For foreign investors, enter Passport Number in Social Security Number field and Country of Citizenship in Taxpayer ID field. Please submit a copy of your government identification with your completed subscription documents.
	 	 	 
	9. 	The investor must sign and date Section 13. If it is a joint account, both investors must sign. In certain cases, the custodian’s signature, as well as the investor’s signature, is required.
	 	 	 
	10.	The name of the broker-dealer firm, registered representative name, registered representative number, address, and phone number must be entered on the bottom of the page.
	 	 	 
	11.	The registered representative and the principal must sign Section 14.
	 	 	 
	12.	Please fill in the enclosed Suitability Requirements form.
	 	 	 
	The investor should return this Subscription Agreement, Suitability Requirements form, and payment to his or her broker’s office address.
	 	 	 
	Subscription Agreements, Suitability Requirements form, payment, and any other required documents should be sent by the broker-dealer to:
	 	 	 
	 	The Transfer Agent’s office of the selling firm (the General Partner recommends sending documents early in the month so that they reach it before month end), as follows:
	 	 	 
	 	 	Mutual Shareholder Services, LLC
	 	 	By Mail:  8000 Town Centre Drive, Suite 400, Broadview Heights, OH  44147
	 	 	By Fax:  (440) 526-4446
	 	 	By Email:  mafuturesfund@mutualss.com
	 	 	 

 

 

 

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	Payments made by check or wire transfer must be received AT LEAST FIVE BUSINESS DAYS prior to the last business day of the month.
	 	 	 
	 Please make checks payable to “MA Managed Futures Fund, LP Escrow Account” and send to:
	 	 	 
	 	 	Huntington National Bank
	 	 	Attn: Corporate Trust
	 	 	7 Easton Oval – EA4E63
	 	 	Columbus, OH  43219
	 	 	 
	If payment is being made by wire transfer, please wire the specified amount to the following account:
	 	 	 
	 	 	Huntington National Bank 	ABA:  044000024
	 	 	7 Easton Oval – EA4E63	CR:  HNB TRUST WIRE 01891662889
	 	 	Columbus, OH   43219	Attn: Corporate Trust
	 	 	 	Fur Ref: MA Managed Futures Fund Escrow
	 	 	 	 
	For payments made by wire transfer, please call 1-855-238-5760 or email mafuturesfund@mutualss.com and advise of the wire amount and account number.  An administration fee of $25.00 will be charged for wire transfers that do not provide complete information to process the return of amounts wired.
	 	 	 
	If investors and/or broker-dealers have specific questions about the subscription process, please call the Transfer Agent at 1-855-238-5760.
	 	 	 

 

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MA Managed Futures Fund, LP

SUBSCRIPTION AGREEMENT

 

 

 

	IMPORTANT: READ PAGES 1 & 2 BEFORE SIGNING  
	 	 	 	 	 	 
	1.	Limited Partner #                                                   	 	Is this an addition to an existing account?                                                                                                                          
	 	 	 	 	 	 
	 	 	Limited Partner      Mr.    Mrs.   Ms.  Other   	 	Joint Limited Partner     Mr.    Mrs.   Ms.  Other
	 	 	 	 	 	 
	2.	Last Name	 	 	 	 
	 	First Name	 	 	 	 
	 	Residence Address	 	 	 	 
	 	 	 	 	 	 
	3.	Additional Information	 	 	 	 
	 	(Ptnrship., Corp., Trusts)	 	 	 	 
	 	 	 	 	 	 
	4.	Mailing Address	 	 	 	 
	 	(if different)	 	 	 	 
	 	 	 	 	 	 
	5.	E-mail Address	 	 	 	 
	 	Telephone	 	 	 	 
	 	Date of Birth	 	 	 	 
	 	 	 	 	 	 
	6.	Custodian Name	 	 	 	 
	 	Mailing Address	 	 	 	 
	 	 	 	 	 	 
	
7.

 

	The investor named above, by execution and delivery of this Subscription Agreement by either (i) enclosing a check payable to “MA Managed Futures Fund, LP Escrow Account” or (ii) authorizing the selling agent to debit investor’s customer securities account in the amount set forth below, hereby subscribes for the purchase of Class A            Class C            or Class I            Units.
	 	 	 	 	 	 
	The named investor further acknowledges receipt of the Fund’s Prospectus dated February 4, 2014 including the Agreement of Limited Partnership (“Partnership Agreement”) of the Fund, the Subscription Requirements and the Subscription Agreement set forth therein, the terms of which govern the investment in the Units being submitted hereby.
	 	 	 	 	 	 
	8.	Total Amount $  	 	 	Class of Units	 	 
	 	(minimum of $5,000 for Class A and Class C and $1,000,000 for Class I Units)
	 	 	 	 	 	 
	9.	Brokerage Account #	 	 	 	 
	 	(must be completed if payment is made by debit to investor’s securities or other qualified account)
	 	 	 	 	 	 
	10.	Social Security Number	 	 	Taxpayer ID #	 	
 

	 	 	 	 	 	 	 

	
Taxable Investors (check one)                                                  

	
Tenants in Entireties                                                                       

	
Individual Ownership                                                                     

	  
	
Community Property                                                                          

	
Partnership*                                    

	
Estate                                                     

	  
	
Corporation*                                          

	
Tenants in Common                                                                     

	  	  
	
Grantor or Other Revocable Trust                                                                                                          

	  	  
	
Trust other than a Grantor or Revocable Trust                                                                                            

	
UGMA/UTMA (Minor)                                                         

	  
	

Joint Tenants with Right of Survivorship                                                                

 

	 	 

 

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Non-Taxable Investors (check one)

	
IRA                                   

	
Defined Benefit*                                                   

	  
	
Other (specify)                                                           

	
IRA Rollover                                                               

	
Pension*                                                

	  
	
Roth IRA                                          

	
Profit Sharing*                                                       

	
SEP                                                          

	  
	
401(K)*                                             

	  	  	  

 

(*APPROPRIATE AUTHORIZATION DOCUMENTS MUST ACCOMPANY SUBSCRIPTION, I.E. TRUSTS, PENSION, CORPORATE DOCUMENTS)

 

	11	Benefit Plan Investors	(i)	I am a Plan or Plan Assets Entity as described on page 9	Yes                                 	 	No                                  
	 	 	 	 	 	 	 
	 	 	(ii)	I am a Plan Assets Entity   	Yes                                 	 	No                                  
	 	 	 	 	 	 	 
	If “Yes,” I hereby represent and warrant that the percentage of the Plan Assets Entity’s equity interests held by a Plan or a Plan Assets Entity does not exceed the percentage set forth below. To ease the administrative burden related to monitoring and updating this percentage, the Fund recommends that you build in some cushion so that you will not have to notify the Fund if the percentage changes slightly:                                 %
	 	 	 	 	 	 	 
	If I am using the assets of an insurance company general account to purchase Units, I hereby represent and warrant that the percentage of such assets used to purchase Units that represents plan assets does not exceed the following percentage:                                %
	 	 	 	 	 	 	 
	I agree to immediately notify the General Partner upon any change to the foregoing representations.
	 	 	 	 	 	 	 
	
12 

 

	 United States Investors Only: Under penalties of perjury, I certify that: (1) the number shown on this form is my correct social security number or taxpayer identification number (or I am waiting for a number to be issued to me); (2) I am not subject to backup withholding due to a failure to report interest and dividend income; and (3) I am a U.S. person.
	 	 	 	 	 	 	 
	Non-United States Investors Only: Under penalty of perjury, by signature below I hereby certify that the Passport Number or government identification number provided is true, correct, and complete and (a) I am not a citizen or resident of the United States or (b) (in the case of an investor which is not an individual) the investor is not a United States corporation, partnership, estate, or trust.
	 	 	 	 	 	 	 
	
13

 

	Investor(s) must sign (executing and delivering this Subscription Agreement shall in no respect be deemed to constitute a waiver of any rights under the Securities Act of 1933, or under the Securities Exchange Act of 1934). The Internal Revenue Service does not require your consent to any provision of this document other than the certifications required to avoid backup withholding.
	 	 	 	 	 	 	 
	
14

 

 

	Broker-dealer must sign. As set forth in the Prospectus, I hereby certify that I have informed the investor of all pertinent facts relating to the risks, tax consequences, liquidity, marketability, management, and control of MA Capital Management, LLC with respect to an investment in the Units. I have also informed the investor of the unlikelihood of a public trading market developing of the Units. I have reasonable grounds to believe, based on information obtained from this investor concerning his/her investment objectives, other investments, financial situation, and needs and any other information known by me, that investment in the Fund is suitable for such investor in light of his/her financial position, net worth and other suitability characteristics. I do not have discretionary authority over the account of the investor.
	 	 	 	 	 	 	 

	                                                                                                          	                                                                                                         
	
Limited Partner Signature  Date(MM/DD/YYYY)

	
Joint Limited Partner (if any)       Date(MM/DD/YYYY) or 

Custodian Signature

	 	 
	                                                                                                         	                                                                                                         
	
Registered Representative Signature / Date(MM/DD/YYYY)

	
Principal Signature                         Date(MM/DD/YYYY)

	  	
(if required by Selling Agent procedures)

	 	 
	                                                                                                         	                                                                                                         
	
Print Name

	
Print Name

	
 

Broker Dealer Firm                                                                                                                           

 

	
Registered Representative Code                                                                                                                                                              

	
Branch Code                                                                                                                                        

 

 

 

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MA Managed Futures Fund, LP

SUBSCRIPTION AGREEMENT

 

Limited Partnership Units Subscription Agreement

 

 

MA Managed Futures Fund, LP

c/o Mutual Shareholder Services, LLC

8000 Town Centre Drive, Suite 400

Broadview Heights, OH   44147

Dear Sir/Madam:

Subscription for Units: I hereby subscribe for the Units in Class A, Class C, or Class I of the Fund in the amount set forth on page 3 of this Subscription Agreement Signature Page. The undersigned’s check payable or wire transfer to “MA Managed Futures Fund, LP Escrow Account” in the full amount of the undersigned’s subscriptions, accompanies the Subscription Agreement Signature Page. If this subscription is rejected, or if no Units are sold, all funds remitted by the undersigned herewith will be returned. MA Capital Management, LLC may, in its sole discretion, accept or reject this subscription in whole or in part. If notice of revocation of a subscription is not received by MA Capital Management, LLC at least 10 days before the end of the month, such attempted revocation is void and will not be deemed a written request for withdrawal. All Units offered are subject to prior sale.

Representations and Warranties of Subscriber: I have received the Prospectus. By submitting this Subscription Agreement I am making the representations and warranties set forth in “Subscription Representations” below, including, without limitation, those representations and warranties relating to my net worth and annual income set forth therein.

Covenants and Agreements of Subscriber: (1) I hereby covenant and agree that I will (i) provide any forms, certification or other information reasonably requested by and acceptable to the Fund that is necessary for the Fund (A) to prevent withholding or qualify for a reduced rate of withholding or backup withholding in any jurisdiction from or through which the Fund receives payments or (B) to satisfy reporting or other obligations under the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury regulations, (ii) update or replace such form, certification or other information in accordance with its terms or subsequent amendments or as requested by the Fund, and (iii) otherwise comply with any reporting obligations imposed by the United States or any other jurisdiction, including reporting obligations that may be imposed by future legislation. (2) In connection with an investment in Class A, Class C, or Class I Units of the Fund, as applicable, pursuant to Section 6224(b) of the Code, I hereby waive any right granted by the Code to participate in any administrative proceeding of the Fund for each of the taxable years in which I am a partner in the Fund for federal income tax purposes. I hereby further waive any right granted in connection with the tax laws of any state or local jurisdiction to participate in any administrative proceeding of the Fund for each of the taxable years in which I am a partner in the Fund for purposes of the tax laws of such state or local jurisdiction. The undersigned hereby agrees that upon request by MA Capital Management, LLC, I will provide any additional information or documentation, execute any forms or other documents, and take any other action required by law to effect such a waiver. I acknowledge that this Subscription Agreement may be filed with the Internal Revenue Service or any state or local taxing authority upon the commencement of any administrative proceeding of the Fund.

Irrevocability; Governing Law: Except as provided above, I hereby acknowledge and agree that I am not entitled to cancel, terminate, or revoke this subscription or any of my agreements hereunder after the Subscription Agreement has been submitted (and not rejected) and that this subscription and such agreements shall survive my death or disability, but shall terminate with the full withdrawal of all my Units in the Fund. Except as to matters of state or federal securities laws, this Subscription Agreement shall be governed by and interpreted in accordance with the laws of the State of Delaware.

 

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MA Managed Futures Fund, LP

SUBSCRIPTION AGREEMENT

 

Suitability Requirements Form

 

By subscribing for Units of the Fund, you will be required to fill out this form in its entirety, and to satisfy any applicable special state suitability requirement described in this form. Therefore, please make sure that you carefully review all representations and warranties and state suitability requirements before signing this form. The undersigned form must be mailed or delivered to the selling agent together with the Subscription Agreement and all other necessary documents. For a successful subscription of Units, all documents must be received at least 5 business days before the initial, or applicable, monthly closing.

PLEASE INDICATE THE CLASS OF UNITS YOU ARE SUBSCRIBING FOR:

	
Class A                                                

	
Class C                                                          

	
Class I                                                          

	  
	
What is your annual income (AI)?

	  	  
	
How did you finance the investment (own money, loan, other)?

	  
	
What is your approximate net worth (NW) exclusive of residence and automobiles?

	  

 

Receipt of Documentation: The regulations of the Commodity Futures Trading Commission (“CFTC”) require that you be given a copy of the Prospectus, as well as certain additional documentation consisting of: (a) a supplement to the Prospectus, which must be given to you if the Prospectus is dated more than nine months before the date that you first received the Prospectus, and (b) the most current monthly account statement (report) for the Fund. By subscribing for Units, you hereby acknowledge receipt of the Prospectus and the additional documentation referred to above, if any.

 

Admission to the Fund: Please be informed that you will not be issued a certificate evidencing the Units that you are purchasing, but you will receive a written confirmation of the purchase in Mutual Shareholder Services, LLC’s customary form.

 

State Suitability Requirements: Except as indicated below, investors must have a net worth (exclusive of home, furnishings and automobiles) of at least $250,000 or, failing that standard, have both a net worth (same exclusions) of at least $70,000 and an annual gross income of at least $70,000. If an investor is subscribing with his/her spouse as joint owners, he/she may count joint net worth and joint income in satisfying these requirements, as well as the special requirements described below. Investors must also make a minimum aggregate investment of $5,000. However, the states listed below (or, in certain cases, in special supplements attached to the Prospectus) have more restrictive suitability or minimum investment requirements for their residents. Please read the following list to make sure that you meet the minimum suitability and/or investment requirements for the state in which you reside. (As used below, “NW” means net worth exclusive of home, furnishings, and automobiles; “AI” means annual gross income; and “TI” means annual taxable income for federal income tax purposes.

 

	1.	Alabama: investors should limit their investment in the Fund and other managed futures programs to not more than 10% of their liquid net worth (cash, cash equivalents and readily marketable securities).
	 	 
	2.	California: $70,000 AI and $250,000 NW or $500,000 NW. California investors should limit their investment in the Fund and other managed futures programs to not more than 10% of their liquid net worth (that portion that consists of cash, cash equivalents, and readily marketable securities).
	 	 
	3.	Iowa: $100,000 TI and $250,000 NW or $500,000 NW.
	 	 
	4.	Kansas: investors should limit their investment in the Fund and other managed futures programs to not more than 10% of their liquid net worth (that portion that consists of cash, cash equivalents and readily marketable securities).

 

 

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	5.	Kentucky: $85,000 TI and $85,000 NW or $300,000 NW. Kentucky investors should limit their investment in any commodity pool program to not more than 10% of their liquid net worth (cash, cash equivalents and readily marketable securities).
	 	 
	6. 	Minnesota: Accredited investor – see page 11 below.
	 	 
	7. 	New Mexico: $75,000 AI and $75,000 NW or $250,000 NW.
	 	 
	8.	Oregon: $70,000 AI and $250,000 NW or $500,000 NW.
	 	 
	9. 	Tennessee: $70,000 AI and $70,000 NW or $250,000 NW.

 

SIGNATURE IF LIMITED PARTNER(S) ARE INDIVIDUALS [PRINT OR TYPE]

 

Mr.                 Mrs.                 Ms.                Other                              

	
Name of Limited Partner                                                                                                                                          

	
Date                                                                               

             

	
Signature of Limited Partner                                                                                                                                   

	
(MM/DD/YYYY)

 

	
Name of Joint Limited Partner                                                                                                                            

	
Date                                                                

         

	
Signature of Joint Limited Partner                                                                  

	
(MM/DD/YYYY)

 

 

SIGNATURE IF LIMITED PARTNER IS AN ENTITY [PRINT OR TYPE]

	
Name of Entity                                                                                   

	
Date                                                                

                    

	
Name of Signatory                                                                  

	
(MM/DD/YYYY)

 

	
By: Authorized Signatory                                                                  

	  
	  	  

 

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MA Managed Futures Fund, LP

SUBSCRIPTION AGREEMENT

 

Suitability Requirements Form

 

REPRESENTATIONS AND WARRANTIES

By executing the Subscription Agreement, the investor (for itself and any co-subscriber, and if the undersigned is signing on behalf of an entity, on behalf of and with respect to that entity and its shareholders, partners, beneficiaries or members), represent and warrant to MA Capital Management, LLC and the Fund as follows: (as used below, the terms “you and your” refer to you and your co-subscriber, if any, or if you are signing on behalf of an entity, that entity);

 

 

	FOR ALL INVESTORS
	1.	I have received a copy of the Prospectus, including the Partnership Agreement.
	2. 	If an individual subscriber, I am of legal age to execute the Subscription Agreement and am legally competent to do so.
	
3.

 

	I satisfy the applicable financial suitability and minimum investment requirements, as set forth on pages 6 and 7 under the caption State Suitability Requirements (or in a special supplement to the Prospectus) for residents of the state in which I reside. I agree to provide any additional documentation requested by Mutual Shareholder Services, LLC, as may be required by the securities administrator of my state of residence, to confirm that I meet the applicable minimum financial suitability standards to invest in the Fund.
	4.	I understand that the investment objective of the Fund is to generate long term capital growth while providing an element of diversification to a portfolio of stock and bond investments, which is consistent with my objective in making an investment in the Fund.
	
5.

 

	The address on the Subscription Agreement is my true and correct residence, and I have no present intention of becoming a resident of any other state or country. All the information that I have provided on the Subscription Agreement is correct and complete as of the date indicated thereon and, if there is any material change in that information before my admission as a limited partner, I will immediately furnish such revised or corrected information to Mutual Shareholder Services, LLC.
	6.	Unless representation 9-12 below is applicable, my subscription is made with my funds for my own account and not as trustee, custodian or nominee for another.
	
7. 

 

	I am either: (a) not required to be registered with the CFTC or to be a member of the National Futures Association (“NFA”) , or (b) if so required, I am duly registered with the CFTC and am a member in good standing of the NFA. Entities that acquire Units must indicate whether they are registered with the CFTC as commodity pools, whether they are exempt from registration as a commodity pool, or whether they are not a commodity pool:
	 	a. 	The entity subscribing for Units is a commodity pool and its sponsors and/or principals are registered as commodity pool operators (“CPOs”) and members of the NFA. NFA ID                 .
	 	b. 	The entity subscribing for Units is a commodity pool but its sponsors and/or principals are not required to be registered CPOs because of an exemption under the Commodity Exchange Act or CFTC Regulations. State the exemption claimed:                . Such entities must also provide a copy of the exemption letter filed with the NFA by its sponsor and/or principals
	 	c. 	The entity subscribing for Units is not a commodity pool. Such entities must provide a separate statement stating the purpose of forming the entity and that such entity does not solicit or accept funds to trade commodity contracts.
	8.	I understand that the Partnership Agreement imposes substantial restrictions on the transferability of my Units and that my investment is not liquid except for limited withdrawal provisions, as set forth in the Prospectus and the Partnership Agreement.

 

 

 

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	FOR BENEFIT PLAN INVESTORS
	
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	If I am, or am acting on behalf of, an “employee benefit plan,” as defined in and subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), a “plan” as defined in and subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) (a “Plan”) or an entity (“Plan Asset Entity”) deemed for any purposes of ERISA or Section 4975 of the Code to hold assets of any Plan due to investments made in such entity by benefit plan investors (in which case, the following representations and warranties are made with respect to each Plan holding an investment in such Plan Assets Entity), the individual signing this Subscription Agreement on behalf of me, in addition to the representations and warranties set forth herein, hereby further represents and warrants as, or on behalf of, the fiduciary of the Plan responsible for purchasing Units (the “Plan Fiduciary”) that: (a) the Plan Fiduciary has considered an investment in the Fund for such Plan in light of the risks relating thereto; (b) the Plan Fiduciary has determined that, in view of such considerations, the investment in the Fund is consistent with the Plan Fiduciary’s responsibilities under ERISA; (c) the Plan’s investment in the Fund does not violate and is not otherwise inconsistent with the terms of any legal document constituting the Plan or any trust agreement thereunder; (d) the Plan’s investment in the Fund has been duly authorized and approved by all necessary parties; (e) none of the General Partner, broker-dealer, custodian, administrator, or selling agent, or any of their respective affiliates or any of their respective agents or employees: (i) has investment discretion with respect to the investment of assets of the Plan used to purchase Units; (ii) has authority or responsibility to or regularly gives investment advice with respect to the assets of the Plan used to purchase Units for a fee and pursuant to an agreement or understanding that such advice will serve as a primary basis for investment decisions with respect to the Plan and that such advice will be based on the particular investment needs of the Plan; or (iii) is an employer maintaining or contributing to the Plan; and (f) the Plan Fiduciary (i) is authorized to make, and is responsible for, the decision to invest in the Fund, including the determination  that such investment is consistent with the requirement imposed by Section 404 of ERISA that Plan investments be diversified so as to minimize the risks of large losses, (ii) is independent of the General Partner, broker-dealer, custodian, administrator, transfer agent and selling agent, and each of their respective affiliates, and (iii) is qualified to make such an investment decision. I will, at the request of the Transfer Agent, furnish the Transfer Agent with such information as the Transfer Agent may reasonably require to establish that the purchase of the Units by the Plan does not violate any provision of ERISA or the Code, including without limitation, those provisions relating to “prohibited transactions” by “parties in interest” or “disqualified persons” as defined therein.
	 	 
	10. 	If I am subscribing as a trustee or custodian of an employee benefit plan subject to the fiduciary responsibility provisions of ERISA, or of an IRA, at the direction of the beneficiary of that plan or IRA, all representations in the Subscription Agreement apply only to the beneficiary of that plan or IRA.
	 	 
	FOR UGMA/UTMA ACCOUNTS
	
11.

 

	If I am subscribing as a custodian for a minor, either (a) the subscription is a gift I have made to that minor and is not made with that minor’s funds, in which case the representations as to net worth and annual income below apply only to myself, acting as custodian, or (b) if the subscription is not a gift, the representation as to net worth, and annual income below apply only to that minor.
	 	 
	FOR ALL TRUSTS OR CORPORATIONS
	
12.

 

	If I am subscribing in a representative capacity, I have full power and authority to purchase Units and enter into and be bound by this Subscription Agreement on behalf of the entity for which I am purchasing the Units, and that entity has full right and power to purchase the Units and enter into an be bound by the Subscription Agreement, and become a limited partner under the Partnership Agreement
	 	 
	FOR TENNESSEE, ALABAMA AND ARKANSAS INVESTORS
	
13. 

 

	For Tennessee, Alabama and Arkansas investors only: I understand that the rate at which the Fund’s performance fee is calculated exceeds the maximum rate for incentive or performance fees payable under the Guidelines for Registration of Commodity Pool Programs adopted by the North American Securities Administrators Association.
	 	 
	By making the representations and warranties set forth above, investors should be aware that they have not waived any rights which they may have under applicable federal or state securities laws. Federal and state securities laws provide that any such waiver would be unenforceable. Investors should be aware, however, that the representations and warranties set forth above may be asserted in the defense of the Fund, MA Capital Management, LLC, or others in any subsequent litigation or other proceedings.
	 	 

 

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MA Managed Futures Fund, LP

SUBSCRIPTION REPRESENTATIONS

 

By executing the Subscription Agreement for MA Managed Futures Fund, LP (the “Fund”), each purchaser (“Purchaser”) of limited partnership units (“Units”) irrevocably subscribes for Units as of the end of the month in which the subscription is accepted, provided such subscription is received at least five business days prior to such month-end, as described in the prospectus dated February 4, 2014 (the “Prospectus”). The minimum subscription is $5,000 for Class A and Class C Units and $1,000,000 for Class I Units; additional Units may be purchased with a minimum investment of $1,000 for each Class of Units in which the investor has made the minimum investment. Subscriptions must be accompanied by a check or wire transfer in the full amount of the subscription and made payable to “MA Managed Futures Fund, LP Escrow Account.” Purchaser is also delivering to the selling agent an executed Subscription Agreement and any other documents needed (i.e., Trust, Pension, Corporate). If Purchaser’s Subscription Agreement is accepted, Purchaser agrees to contribute Purchaser’s subscription to the Class of Units subscribed for and to accept the terms of the Agreement of Limited Partnership of the Fund, as amended from time to time (the “Partnership Agreement”), attached as Exhibit A to the Prospectus. Purchaser agrees to reimburse the Fund and MA Capital Management, LLC (the “General Partner”), as general partner, for any expense or loss incurred as a result of the cancellation of Purchaser’s Units due to a failure of Purchaser to deliver good funds in the amount of the subscription price. By execution of the Subscription Agreement, Purchaser shall be deemed to accept and agree to the terms of the Partnership Agreement as if Purchaser had executed the Partnership Agreement. As an inducement to the General Partner to accept this subscription, Purchaser (for the Purchaser and, if Purchaser is an entity, on behalf of and with respect to each of purchaser’s shareholders, partners, members or beneficiaries), by executing and delivering Purchaser’s Subscription Agreement, represents and warrants to the General Partner, the clearing brokers, the selling agent who solicited Purchaser’s subscription and the Fund, as follows: (a) Purchaser is of legal age to execute the Subscription Agreement and is legally competent to do so. (b) Purchaser acknowledges that Purchaser has received a copy of the Prospectus, including the Partnership Agreement. (c) All information that Purchaser has furnished to the General Partner or that is set forth in the Subscription Agreement submitted by Purchaser is correct and complete as of the date of such Subscription Agreement, and if there should be any change in such information prior to acceptance of Purchaser’s subscription, Purchaser will immediately furnish such revised or corrected information to the General Partner. (d) Unless (e) or (f) below is applicable, Purchaser’s subscription is made with Purchaser’s funds for Purchaser’s own account and not as trustee, custodian or nominee for another. (e) The subscription, if made as custodian for a minor, is a gift Purchaser has made to such minor and is not made with such minor’s funds or, if not a gift, the representations as to net worth and annual income set forth below apply only to such minor. (f) If Purchaser is an entity, the person signing the Subscription Agreement is duly authorized to do so and such entity has full power and authority to purchase such Units and enter into and accept the terms of the Subscription Agreement and become a limited partner of the Fund. (g) Purchaser either is not required to be registered with the Commodity Futures Trading Commission (“CFTC”) or to be a member of the National Futures Association (“NFA”) or if required to be so registered is duly registered with the CFTC and is a member in good standing of the NFA. (h) Purchaser represents and warrants that Purchaser has (i) a net worth of at least $250,000 (exclusive of home, furnishings and automobiles) or (ii) an annual gross income of at least $70,000 and a net worth (similarly calculated) of at least $70,000. Residents of certain states indicated below must meet the requirements set forth below (net worth in all cases is exclusive of home, furnishings and automobiles). In addition, Purchaser may not invest more than 10% of his net worth (exclusive of home, furnishings and automobiles) in the Fund. (i) If the Purchaser is acting on behalf of a trust (a “Limited Partner Trust”), the individual signing the Subscription Agreement on behalf of the Limited Partner Trust hereby further represents and warrants that an investment in the Fund is permitted under the trust agreement of the Limited Partner Trust, and that the undersigned is authorized to act on behalf of the Limited Partner Trust under the trust agreement thereof.

Residents of the following states must meet the requirements set forth below (net worth in all cases is exclusive of home, furnishings and automobiles).

1. Alabama — Alabama investors should limit their investment in the Fund and other managed futures programs to not more than 10% of their liquid net worth (cash, cash equivalents and readily marketable securities).

 

 

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2. California — Net worth of at least $500,000 or a net worth of at least $250,000 and an annual income of at least $70,000. California investors should limit their investment in the Fund and other managed futures programs to not more than 10% of their liquid net worth (cash, cash equivalents and readily marketable securities).

 

3. Iowa — Net worth of at least $500,000 or a net worth of at least $250,000 and an annual taxable income of at least $100,000.

 

4. Kansas — Kansas investors should limit their investment in the Fund and other managed futures programs to not more than 10% of their liquid net worth (that portion of net worth that consists of cash, cash equivalents and readily marketable securities).

 

 5. Kentucky — Net worth of at least $300,000 or a net worth of at least $85,000 and an annual taxable income of $85,000. Kentucky investors should limit their investment in any commodity pool program to not more than 10% of their liquid net worth (cash, cash equivalents and readily marketable securities).

 

6. Minnesota — By executing the Subscription Agreement of the Fund, a Minnesota Purchaser is deemed to represent and warrant to the Fund that such person is an “accredited investor” as defined in Rule 501(a) under the Securities Act of 1933. An accredited investor includes: (1) any natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of such person’s purchase of the Units exceeds $1,000,000 (excluding the value of such person’s residence); or (2) any natural person who had individual income in excess of $200,000 in each of the two most recent years, or joint income with that person’s spouse in excess of $300,000 in each of those years, and has a reasonable expectation of reaching the same income level in the current year. For purposes of determining the value of the primary residence to be excluded from net worth, such person should exclude any net equity in his or her primary residence (i.e., the amount by which the current market value of the residence exceeds the current outstanding balance of any mortgage or other indebtedness secured by the residence). If the current outstanding balance of any such mortgage or other indebtedness exceeds the current market value of the residence, the amount of any such excess shall cause a reduction in such person’s net worth. If the current outstanding balance of such mortgage exceeds the amount outstanding 60 days before the proposed subscription date (other than as a result of the acquisition of the such person’s primary residence), the amount of such excess shall cause a reduction in such person’s net worth.”

 

7. New Mexico — Net worth of at least $250,000 or a net worth of at least $75,000 and an annual income of at least $75,000.

 

8. Oregon — Net worth of at least $500,000 or a net worth of at least $250,000 and an annual income of at least $70,000.

 

9. Tennessee — Net worth of at least $250,000 or a net worth of at least $70,000 and an annual taxable income of at least $70,000. Tennessee investors should be aware that the rate at which the Fund’s performance fee is calculated exceeds the maximum rate for incentive/performance fees payable under the Guidelines for Registration of Commodity Pool Programs (the “Guidelines”) adopted by the North American Securities Administrators Association, and may, under certain circumstances, result in the General Partner receiving combined management and incentive fees that exceed the maximum compensation permitted by the Guidelines.

B-11esagmt.htm

ESCROW AGREEMENT

          ESCROW AGREEMENT, (the “Agreement”) dated as of January 28, 2014 (“Effective Date”), by and between MA Managed Futures Fund, LP, a Delaware limited partnership (the “Fund”) and Huntington National Bank, a national banking association as escrow agent (the “Escrow Agent”).

 

          Whereas, the Fund is offering its Units of limited partnership interest on a best efforts, continuous offering basis to investors (the “Investors”) pursuant to a Prospectus.

 

          Whereas, in accordance with the Fund’s prospectus, the Fund intends to publicly offer in the aggregate $50,000,000 of Class A, Class C, and Class I Units (the “Securities”), for which each subscriber will pay $1,000 per Unit during the initial offering period and an amount equal to the current net asset value per Unit thereafter during the continuous offering period; and

 

          Whereas, the Prospectus provides for certain funds to be deposited into an escrow account to be held and distributed in accordance with the terms of the Prospectus and the terms and conditions set forth hereinafter.

 

          NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each of the parties hereto, the parties hereto, intending to be legally bound, do hereby agree as follows:

 

          Section 1. Appointment of Escrow Agent. The Fund hereby appoints Huntington National Bank as escrow agent in accordance with the terms and conditions set forth herein, and the Escrow Agent hereby accepts such appointment.

 

          Section 2. Proceeds to be Escrowed.

 

(a) A sample copy of the draft Prospectus, including any relevant Subscription Agreement(s), is attached as Exhibit A. All funds received from Investors (“Investor Funds”) in payment for the Securities will be delivered to the Escrow Agent within one (1) Business day following the day upon which such proceeds are received by the Fund, and shall be retained in escrow by the Escrow Agent pursuant to this Agreement. All Investor Funds shall be deposited into a non-interest bearing account at the Escrow Agent entitled “Huntington National Bank, as Escrow Agent for MA Managed Futures Fund, LP” (the Escrow Account).

 

(b) The Investor Funds deposited in the Escrow Account are referred to as the “Escrow Funds”.

 

(c) In the event that any check deposited in the Escrow Account proves uncollectible after the funds represented thereby have been released by the Escrow Agent, then the Fund shall promptly reimburse the Escrow Agent for any and all costs incurred for such upon request, and the Escrow Agent shall deliver the returned checks to the Fund.

 

(d) In the event that any check deposited in the Escrow Account proves uncollectible before the funds represented thereby have been released by the Escrow Agent, then the Escrow Agent shall give notice to the Fund of such event, the Fund shall promptly reimburse the Escrow Agent for any and all costs incurred therewith, and the Escrow Agent shall deliver the returned check to the Fund.

 

          Section 3. Rejections by Escrow Agent. The Fund hereby acknowledges the Escrow Agent’s sole right to reject for deposit into the Escrow Account, any Investor Funds based on the results of the Escrow Agent’s internal due diligence policies and procedures. The Escrow Agent may reject Investor Funds by giving written notice to the Fund, and returning the check to the Investor.

 

          Section 4. Disbursement of Funds. For each payment from the Escrow Account, the Fund shall deliver, by facsimile, to Escrow Agent a letter of direction (“a “Certificate”), which Certificate shall specify (i) the dollar amount of the Funds to be paid to the recipient, (ii) the name and address of the recipient, (ii) the date on which such payment or payments shall be made by the Escrow Agent. Escrow Agent shall make any payment to the recipient by wire or other transfer to the account of such recipient as directed by the Fund.

 

          Section 5 Term of Escrow. The “Termination Date” shall be (i) the date the Escrow Agent receives written notice from the Fund that it is abandoning the sale of the Securities. Upon the termination of the Escrow Agreement any remaining Escrow Funds shall be refund to each Investor at the address furnished to the Escrow Agent by the Fund in writing.

 

  

  

  

          Section 6 Issuance of Certificates. Until the offering period has ended, the Fund shall not issue any certificates or other evidence of Securities, except subscription agreements.

 

          Section 7 Compensation of Escrow Agent. The Escrow Agent shall be entitled to payment from the Fund for customary fees and expenses for all services rendered by it hereunder as set forth in Exhibit B (as such fees may be adjusted from time to time). The Fund shall reimburse the Escrow Agent on demand for all loss, liability, damage, disbursements, advances or expenses paid or incurred by it in the administration of its duties hereunder, including, but not limited to, all counsel, advisors’ and agents’ fees and disbursements and all taxes or other governmental charges.

 

          Section 8 Resignation of Escrow Agent. The Escrow Agent may resign and be discharged from its duties hereunder at any time by giving thirty (30) calendar days’ prior written notice of such resignation to the Fund, or immediately upon written notice to comply with any law or regulation with which the Escrow Agent must comply. The Fund may remove the Escrow Agent at any time by giving thirty (30) calendar days’ prior written notice to the Escrow Agent. Upon such notice, a successor escrow agent shall be appointed by the Fund who shall provide written notice of such to the resigning Escrow Agent. Such successor escrow agent shall become the escrow agent hereunder upon the resignation or removal date specified in such notice. If the Fund is unable to appoint a successor escrow agent within thirty (30) days after a notice of resignation or removal, the Escrow Agent may, in its sole discretion, transfer the Escrow Funds to the Fund at the account provided for in Schedule 1, or may apply to a court of competent jurisdiction for the appointment of a successor escrow agent or for other appropriate relief. The costs and expenses (including its attorneys’ fees and expenses) incurred by the Escrow Agent in connection with such proceeding shall be paid by the Fund. Upon receipt of the identity of the successor escrow agent, the Escrow Agent shall deliver the Escrow Funds then held hereunder to the successor Escrow Agent, less the Escrow Agent’s fees, costs and expenses or other obligations owed to the Escrow Agent. Upon its resignation and delivery of the Escrow Funds as set forth in this Section 8, the Escrow Agent shall be discharged of and from any and all further obligations arising in connection with the Escrow Funds or this Agreement, provided however, the Escrow Agent shall be entitled to the retain the rights set forth in Sections 7, 9 and 10 of this Agreement.

 

          Section 9 Indemnification of Escrow Agent. The Fund or MA Capital Management, LLC shall indemnify, defend and hold harmless the Escrow Agent and its officers, directors, employees, representatives and agents, from and against and reimburse the Escrow Agent on demand for any and all claims, expenses, obligations, liabilities, losses, damages, injuries (to person, property, or natural resources), penalties, stamp or other similar taxes, actions, suits, judgments, reasonable costs and expenses (including reasonable attorney’s fees and expenses) of whatever kind or nature regardless of their merit, demanded, asserted or claimed against the Escrow Agent directly or indirectly relating to, or arising from, claims against the Escrow Agent by reason of its participation in the transactions contemplated hereby, including without limitation all reasonable costs required to be associated with claims for damages to persons or property, and reasonable attorneys’ and consultants’ fees and expenses and court costs except to the extent caused by the Escrow Agent’s gross negligence or willful misconduct. The provisions of this Section 9 shall survive the termination of this Agreement or the earlier resignation or removal of the Escrow Agent.

 

          Section 10 The Escrow Agent.

 

          (a) The duties, responsibilities and obligations of Escrow Agent shall be limited to those expressly set forth herein and no duties, responsibilities or obligations shall be inferred to or implied against the Escrow Agent. The Escrow Agent shall not be subject to, nor required to comply with, any other agreement to which the Fund is a party, even though reference thereto may be made herein, or to comply with any direction or instruction (other than those contained herein or delivered in accordance with this Escrow Agreement) from the Fund or any entity acting on the Fund’s behalf. The Escrow Agent shall not be required to expend or risk any of its own funds or otherwise incur any liability, financial or otherwise, in the performance of any of its duties hereunder.

 

     (b) If at any time the Escrow Agent is served with any judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process which in any way affects the Escrow Funds (including but not limited to orders of attachment or garnishment or other forms of levies or injunctions or stays relating to the transfer of the Escrow Funds), the Escrow Agent is authorized to comply therewith in any manner it or legal counsel of its own choosing deems appropriate; and if the Escrow Agent complies with any such judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process, Escrow Agent shall not be liable to any of the parties hereto or to any other person or entity even though such order, judgment, decree, writ or process may be subsequently modified or vacated or otherwise determined to have been without legal force or effect.

 

  

  

  

     (c) The Escrow Agent shall not be liable for any action taken or omitted or for any loss or injury resulting from its actions or its performance or lack of performance of its duties hereunder in the absence of gross negligence or willful misconduct on its part, as such is proved in a court or tribunal of competent jurisdiction. In no event shall the Escrow Agent be liable (i) for acting in accordance with or conclusively relying upon any instruction, notice, demand, certificate or document from the Fund or any entity acting on behalf of the Fund, (ii) for any indirect, cumulative, consequential, punitive or special damages, regardless of the form of action and whether or not any such damages were foreseeable or contemplated unless such damages arise from the gross negligence, intentional acts, or willful misconduct of the Escrow Agent, or (iii) for the acts or omissions of its nominees, correspondents, designees, agents, subagents or subcustodians, unless the Escrow Agent’s selection of such nominees, correspondents, designees, agents, subagents or subcustodians of the Escrow Agent involves gross negligence or willful misconduct on part of the Escrow Agent.

 

     (d) If any fees, expenses or costs incurred by, or any obligations owed to, the Escrow Agent or its counsel hereunder are not promptly paid when due, the Escrow Agent may reimburse itself therefor from the Escrow Funds and may sell, liquidate, convey or otherwise dispose of any investment in respect of the Escrow Funds for such purpose. The Escrow Agent may in its sole discretion withhold from any distribution of any interest earned in respect of the Escrow Funds an amount it believes would, upon sale or liquidation, produce proceeds equal to any unpaid amounts to which the Escrow Agent is entitled to hereunder.

 

     (e) The Escrow Agent may consult with legal counsel of its own choosing as to any matter relating to this Agreement, and the Escrow Agent shall not incur any liability in acting in good faith in accordance with any advice from such counsel.

 

     (f) The Escrow Agent shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of the Escrow Agent (including but not limited to any act or provision of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance or disaster, any act of terrorism or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility).

 

     (g) The Escrow Agent shall be entitled to conclusively rely upon any order, judgment, certification, demand, notice, instrument or other writing delivered to it hereunder without being required to determine the authenticity or the correctness of any fact stated therein or the propriety or validity or the service thereof. The Escrow Agent may act in conclusive reliance upon any instrument or signature believed by it to be genuine and may assume that any person purporting to give receipt or advice to make any statement or execute any document in connection with the provisions hereof has been duly authorized to do so.

 

     (h) The Escrow Agent shall not be responsible in any respect for the form, execution, validity, value or genuineness of documents or securities deposited hereunder, or for any description therein, or for the identity, authority or rights of persons executing or delivering or purporting to execute or deliver any such document, security or endorsement. The Escrow Agent shall not be called upon to advise any party as to the wisdom in selling or retaining or taking or refraining from any action with respect to any securities or other property deposited hereunder.

 

     (i) The Escrow Agent shall not be under any duty to give the Escrow Funds held by it hereunder any greater degree of care than it gives its own similar property and shall not be required to invest any funds held hereunder. Uninvested funds held hereunder shall not earn or accrue interest.

 

     (j) At any time the Escrow Agent may request an instruction in writing, in English from the Fund and may, at its own option, include in such request the course of action it proposes to take and the date on which it proposes to act, regarding any matter arising in connection with its duties and obligations hereunder. The Escrow Agent shall not be liable for acting in accordance with such a proposal on or after the date specified therein, provided that the specified date shall be at least three (3) Business Days after the Escrow Agent sends such request for instructions and its proposed course of action to Fund by fax or electronic mail (receipt confirmed) or by overnight courier, and provided further that, prior to so acting, the Escrow Agent has not received the written instructions from the Fund to refrain from taking the proposed action.

 

     (k) When the Escrow Agent acts on any information, instructions, communications, (including, but not limited to, communications with respect to the delivery of securities or the wire transfer of funds) sent by telex, facsimile, email or other form of electronic or data transmission, the Escrow Agent, absent gross negligence as proved in a court or tribunal of competent jurisdiction, shall not be responsible or liable in the event such communication is not an authorized or authentic communication of the Fund or is not in the form the Fund sent or intended to send (whether due to fraud, distortion or otherwise). The Fund shall indemnify the Escrow Agent against any loss, liability, claim or expense (including legal fees and expenses) it may incur with its acting in accordance with any such communication.

 

  

  

  

     (l) In the event of any ambiguity or uncertainty hereunder or in any notice, instruction or other communication received by the Escrow Agent hereunder, the Escrow Agent may, in its sole discretion, refrain from taking any action other than to retain possession of the Escrow Funds. The Escrow Agent may, but is not obligated to, inform the Fund in writing of the ambiguity. If the Fund provides the Escrow Agent with written instructions which eliminates such ambiguity or uncertainty, the Escrow Agent shall comply with such written instructions.

 

     (m) In the event of any dispute between or conflicting claims among the Fund and any other person or entity with respect to any Escrow Funds, the Escrow Agent shall be entitled, in its sole discretion, to refuse to comply with any and all claims, demands or instructions with respect to such Escrow Funds so long as such dispute or conflict shall continue, and the Escrow Agent shall not be or become liable in any way to the Fund or any other person for failure or refusal to comply with such conflicting claims, demands or instructions. The Escrow Agent shall be entitled to refuse to act until, in its sole discretion, either (i) such conflicting or adverse claims or demands shall have been determined by a final order, judgment or decree of a court of competent jurisdiction, which order, judgment or decree is not subject to appeal, or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to the Escrow Agent or (ii) the Escrow Agent shall have received security or an indemnity satisfactory to it sufficient to hold it harmless from and against any and all losses which it may incur by reason of so acting. Any court order, judgment or decree shall be accompanied by a legal opinion by counsel for the presenting party, satisfactory to the Escrow Agent, to the effect that said order, judgment or decree represents a final adjudication of the rights of the parties by a court of competent jurisdiction, and that the time for appeal from such order, judgment or decree has expired without an appeal having been filed with such court. The Escrow Agent shall act on such court order and legal opinions without further question. The Escrow Agent may, in addition, elect, in its sole discretion, to commence an interpleader action or seek other judicial relief or orders as it may deem, in its sole discretion, necessary. The costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with such proceeding shall be paid by, and shall be deemed an obligation of, the Fund.

 

     (n) The Escrow Agent shall have no responsibility for the contents of any writing of the arbitrators or any third party contemplated herein as a means to resolve disputes and may conclusively rely without any liability upon the contents thereof.

 

     (o) The Escrow Agent does not have any interest in the Escrow Funds deposited hereunder but is serving as escrow holder only and having only possession thereof. The Fund shall pay or reimburse the Escrow Agent upon request for any transfer taxes or other taxes relating to the Escrow Funds incurred in connection herewith and shall indemnify and hold harmless the Escrow Agent from any amounts that it is obligated to pay in the way of such taxes. Any payments of income from this Escrow Account shall be subject to withholding regulations then in force with respect to United States taxes. The Fund will provide the Escrow Agent with appropriate W-9 forms for tax identification number certifications, or W-8 forms for non-resident alien certifications. This paragraph shall survive notwithstanding any termination of this Escrow Agreement or the resignation or removal of the Escrow Agent.

 

     (p) The Escrow Agent shall provide to the Fund monthly statements identifying transactions, transfers or holdings of Escrow Funds and each such statement shall be deemed to be correct and final upon receipt thereof by the Fund unless the Escrow Agent is notified in writing, by the Fund, to the contrary within thirty (30) business days of the date of such statement.

 

     (q) The Fund shall deliver to the Escrow Agent a list of authorized signatories, as set forth in the attached Schedule 2 hereto, with respect to any notice, certificate, instrument, demand, request, direction, instruction, waiver, receipt, consent or other document or communication required or permitted to be furnished to the Escrow Agent hereunder, and the Escrow Agent shall be entitled to rely on such list with respect to any party until a new list is furnished by such party to the Escrow Agent. Furthermore, in the event funds transfer instructions are given (other than in writing at the time of execution of this Agreement), whether in writing, by fax or otherwise, the Escrow Agent is authorized to seek confirmation of such instructions by telephone call-back to the person or persons designated on Schedule 3 hereto, and the Escrow Agent may rely upon the confirmations of anyone purporting to be the person or persons so designated. The persons and telephone numbers designated for such call-backs may be changed only in a writing actually received by the Escrow Agent.

 

  

  

  

Section 11.Miscellaneous.

 

          (a) This Agreement embodies the entire agreement and understanding among the parties relating to the subject matter hereof.

 

          (b) This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without reference to the principles of conflict of laws.

 

          (c) Each of the parties hereto hereby irrevocably consents to the jurisdiction of the courts of the State of Ohio and of any Federal Court located in such State in connection with any action, suit or other proceeding arising out of or relating to this Agreement or any action taken or omitted hereunder, and waives any claim of forum non conveniens and any objections as to laying of venue. Each party further waives personal service of any summons, complaint or other process and agrees that service thereof may be made by certified or registered mail directed to such person at such person’s address for purposes of notices hereunder.

 

          (d) Unless otherwise provided herein, all notices and other communications under this Agreement shall be in writing in English and shall be deemed given when delivered personally, on the next Business Day after delivery to a recognized overnight courier or upon receipt when mailed first class (postage prepaid)or when sent by facsimile to the parties (which facsimile copy shall be followed, in the case of notices or other communications sent to the Escrow Agent, by delivery of the original) at the following addresses (or to such other address as a party may have specified by notice given to the other parties pursuant to this provision):

 

If to the Fund, to:

 

MA Managed Futures Fund, LP

c/o MA Capital Management, LLC

4440 PGA Boulevard, Suite 600

Palm Beach Gardens, FL  33410

Facsimile: (561) 472-8401

 

If to the Escrow Agent, to:

 

Huntington National Bank

Corporate Trust Department

7 Easton Oval – EA4E63

Columbus, OH  43219

Facsimile: (614)-331-5862

Attention: Jim Schultz

 

          (e) The headings of the Sections of this Agreement have been inserted for convenience and shall not modify, define, limit or expand the express provisions of this Agreement.

 

          (f) This Agreement and the rights and obligations hereunder of parties hereto may not be assigned except with the prior written consent of the other parties hereto. This Agreement shall be binding upon and inure to the benefit of each party’s respective successors and permitted assigns. Except as expressly provided herein, no other person shall acquire or have any rights under or by virtue of this Agreement. This Agreement is intended to be for the sole benefit of the parties hereto, and (subject to the provisions of this Section 11(f)) their respective successors and assigns, and none of the provisions of this Agreement are intended to be, nor shall they be construed to be, for the benefit of any third person.

 

          (g) This Agreement may not be amended, supplemented or otherwise modified without the prior written consent of the parties hereto.

 

          (h) The Escrow Agent makes no representation as to the validity, value, genuineness or the collectability of any security or other document or instrument held by or delivered to it.

 

          (i) The Escrow Agent shall not be called upon to advise any party as to the wisdom in selling or retaining or taking or refraining from any action with respect to any securities or other property deposited hereunder.

 

          (j) This Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument.

 

          (k) The rights and remedies conferred upon the parties hereto shall be cumulative, and the exercise or waiver of any such right or remedy shall not preclude or inhibit the exercise of any additional rights or remedies. The waiver of any right or remedy hereunder shall not preclude the subsequent exercise of such right or remedy.

 

  

  

  

          (l) The Fund hereby represents and warrants (i) that this Agreement has been duly authorized, executed and delivered on its behalf and constitutes its legal, valid

 

and binding obligation and (ii) that the execution, delivery and performance of this Agreement by the Fund does not and will not violate any applicable law or regulation.

 

          (m) The invalidity, illegality or unenforceability of any provision of this Agreement shall in no way affect the validity, legality or enforceability of any other provision; and if any provision is held to be unenforceable as a matter of law, the other provisions shall not be affected thereby and shall remain in full force and effect.

 

          (n) No printed or other material in any language, including prospectuses, notices, reports, and promotional material which mentions “Huntington National Bank” or any affiliates by name or the rights, powers, or duties of the Escrow Agent under this Agreement shall be issued by any other parties hereto, or on such party’s behalf, without the prior written consent of the Escrow Agent. The Escrow Agent hereby consents to mention of “Huntington National Bank” in the Fund’s prospectus.

 

          (o) For purposes of this Agreement, “Business Day” shall mean any day that is not a Saturday or Sunday or a day on which banks are required or permitted by law or executive order to be closed in the City of New York or Columbus, Ohio.

 

          (p) For purposes of sending and receiving instructions or directions hereunder, all such instructions or directions shall be, and the Escrow Agent may conclusively rely upon such instructions or directions, delivered, and executed by representatives of the Fund designated on Schedule 2 attached hereto and made a part hereof (each such representative, an “Authorized Person”) which such designation shall include specimen signatures of such representatives, as such Schedule I may be updated from time to time.

 

          (q) The provisions of Sections 8, 10 and 11 shall survive the termination of this Agreement or the earlier resignation or removal of the Escrow Agent.

 

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

 

MA MANAGED FUTURES FUND, LP

 

 

By:           /s/ Monty Agarwal

Name: Monty Agarwal

Title: Managing Partner, MA Capital Management, LLC,

General Partner of MA Managed Futures Fund, LC

HUNTINGTON NATIONAL BANK, as Escrow Agent

By:           /s/ James E. Schultz

Name: James E. Schultz

Title: Vice President

 

  

  

  

 

 

Schedule 1

Bank Name:

ABA#:

Account#:

Account name:

  

  

  

Schedule 2

Authorized Representatives

	  	  	  	  	  
	
Name

	  	
Title

	  	
Specimen Signature

	
Monty Agarwal

	  	
Managing Partner

	  	  
	  	  	
MA Capital Management, LLC

	  	
 /s/ Monty Agarwal

	  	  	
General Partner of the Fund

	  	  
	
Cheryl Nyusa

	  	
Chief Operating Officer

	  	  
	  	  	
MA Capital Management, LLC

	  	
 /s/ Cheryl Nyusa

	  	  	
General Partner of the Fund

	  	  

  

  

  

Schedule 3

HUNTINGTON NATIONAL BANK

Corporate Trust Department

7 Easton Oval – EA4E63

Columbus, OH  43219

	  	  	  
	  	  	  

Payment Order Authorization Form

	  	  	  	  	  
	
Account Name:

	  	
 MA Managed Futures Fund, L.P.

	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	
Account Number(s):

	  	
 01891662889

	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  
	  	  	  	  	  

By signing this form, the Customer authorizes the Authorized Contacts listed below to issue, amend and cancel payment orders on behalf of the Customer, unless Call Back Only authorization is indicated.

	  	  	  	  	  	  	  	  
	
By:

	  	
 /s/ Monty Agarwal

	  	  	  	  	  
	  	  	
 

(Signature of an Authorized Officer of the Customer)

	  	  	  	  	  
	 	 	 	 	 	 	 	 
	  	  	
 Monty Agarwal

	  	  	  	  	  
	  	  	
 

(Print Name)

	  	  	  	  	  
	  	  	  	  	  	  	  	  
	
Title:

	  	
  Managing Partner

	  	
Date:  

	   1/27/2014	  
	  	  	  	  	  	  	  

 

Authorized Contacts

	  	  	  	  	  	  	  
	  	  	  	  	  	  	
Call Back Only

	
Name

	  	
Signature

	  	
Phone Number

	  	
(Check if Yes)

	  	  	  	  	  	  	  
	
Monty Agarwal

	  	
/s/ Monty Agarwal

	  	
(561) 623-5310

	  	
o

	  	  	  	  	  	  	  
	
Cheryl Nyusa

	  	
/s/ Cheryl Nyusa

	  	
(561) 623-5310

	  	
o

	  	  	  	  	  	  	  
	  	  	  	  	  	  	
o

	  	  	  	  	  	  	  
	  	  	  	  	  	  	
o

 

 

  

  

  

 

 

 

 

Exhibit A

Prospectus and Subscription Agreement

 

 

 

[ omitted ]

 

 

  

  

  

 

Exhibit B

Escrow Agent Fees

 

 

MA Managed Futures Fund LP Subscription Escrow Agreement

 

Fee Schedule

January 21, 2014

 

 

Upon appointment of The Huntington National Bank as Escrow Agent the Escrow Parties shall be responsible for the payment of the fees, expenses and charges as set forth in this Fee Schedule.

 

GENERAL FEES

 

 

 

	ACCEPTANCE FEE - (One time only due at closing)	$ 1,000.00

                                                                                                         

 

This one time charge is payable at the time of the closing and includes the review and execution of all documents submitted in support thereof (including counsel expense, if any), acceptance of the Escrow documents, establishment of procedures and controls and set-up of Escrow accounts.

 

 

 

	ANNUAL ESCROW ADMINISTRATIVE FEE- (Due at closing)   	$ 3,000.00

 

 

                                                                                                                     

An annual fee covering the duties and responsibilities related to Escrow account administration and services, which may include maintenance of accounts on various systems, collection and payment of principal and interest to the Escrow Parties, and the monitoring of compliance.  This fee is payable in advance for the year and shall not be prorated.

 

  

  

  

 

 

	
Wire Transfer Fee:

	  	  	  
	
Outgoing Wires

	  	  	
$15.00/transaction

	  	  	  	  	  
	
Physical Check Fee:

	  	  	  
	
Physical Check

	  	  	
$5.00/check

	  	  	  	  	  

 

MISCELLANEOUS FEES

 

 

The fees for performing extraordinary or other services not contemplated at the time of the execution of the transaction or not specifically covered elsewhere in this schedule will be commensurate with the service to be provided and will be charged at The Huntington National Bank’s sole discretion.  Fees and expenses of our representatives, counsel, accountants, special agents and others will be charged at the actual amount of fees and expenses billed.

 

  

  

  

 

 

Terms and Disclosures

 

TERMS OF PROPOSAL

 

Final acceptance of the appointment as escrow agent under the escrow documents is subject to approval of authorized officers of The Huntington National Bank and full review and execution of all documentation related hereto.  Please note that if this transaction does not close, you will be responsible for paying any expenses incurred, including Counsel fees. The Huntington National Bank reserves the right to terminate this offer if we do not enter into final written documents within three months from the date this document is first transmitted to you.  Fees may be subject to adjustment during the life of the engagement.

 

CUSTOMER NOTICE REQUIRED BY THE USA PATRIOT ACT

 

To help the US government fight the funding of terrorism and money laundering activities, US Federal law requires all financial institutions to obtain, verify, and record information that identifies each person (whether an individual or organization) for which a relationship is established.

 

What this means to you:  When you establish a relationship with The Huntington National Bank, we will ask you to provide certain information (and documents) that will help us to identify you.  We will ask for your organization’s name, physical address, tax identification or other government registration number and other information that will help us to identify you.  We may also ask for a Certificate of Incorporation or similar document or other pertinent identifying documentation for your type of organization.

 

We thank you for your assistance.

 

 

	Accepted By: 	 	 	Huntington National Bank:
	 	 	 	 
	Signature: 	/s/ Monty Agarwal	 	/s/ James E. Schultz
	 	 	 	 
	Date:  	1/27/2014	 	1/28/2014
	 	 	 	 
	Name:  	Monty Agarwal  	 	James E. Schultz 
	 	 	 	 
	Title:  	Managing Partner  	 	Vice President

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