Document:

EX-10.14(a)

 Exhibit 10.14(a) 

AMENDMENT NO. 1 TO THE ADVISORY AGREEMENT 

This AMENDMENT NO. 1 dated as of the 1st day of January 2013 to the ADVISORY AGREEMENT made as of the 1st day of April, 2008, among CERES
MANAGED FUTURES LLC (formerly Demeter Management Corporation), a Delaware limited liability company (the “Trading Manager”), MORGAN STANLEY SMITH BARNEY BORONIA I, LLC (formerly Morgan Stanley Managed Futures GMF I, LLC), a Delaware
limited liability company (the “Trading Company”) and BORONIA CAPITAL PTY LTD. (formerly Grinham Managed Funds Pty. Ltd.), a New South Wales, Australia proprietary limited company (the “Trading Advisor”). 

W I T N E S S E T H: 

WHEREAS, the Trading Manager, the Trading Company and the Trading Advisor wish to amend the Advisory Agreement to increase the amount of
leverage used to manage the Trading Company’s assets and reflect a change in the Trading Advisor’s management fee compensation (from 2% per year to 1.875% per year). 

NOW, therefore, the parties agree as follows: 

1. The first sentence of Section 2(f) shall be deleted and replaced by the following: 

(f) In performing services to the Trading Company, the Trading Advisor shall utilize its Boronia Diversified Program (the “Trading
Program”), as described in the Disclosure Document, and as modified from time to time; provided, however, that the Trading Manager and the Trading Company agree that amount of leverage applied to the assets of the Trading Company
allocated to the Trading Advisor by the Trading Manager shall be 1.5 times the assets of the Trading Company allocated to the Trading Advisor by the Trading Manager (the “Trading Level”), unless otherwise agreed by the parties hereto in
writing. The Trading Advisor shall trade the Trading Company’s assets on the basis of the Trading Level. 
 2. The first sentence of
Section 5(a)(i) shall be deleted and replaced by the following: 
 The Trading Company shall pay the Trading Advisor a monthly
management fee equal to 1/12 of the annual rate set out in the table below where the rate is determined by and applied to the Net Assets (as defined in Section 5(c) hereof) as of the first day of each month (the “Management Fee”).

			
	 Net Asset Level as of the

first day of each month
	  	 Fee Rate % (pa)

	 Less than or equal to US$60 million
	  	3.00% pa
	 Greater than US$60 million and less than or equal to US$120 million
	  	1.875% pa
	 Greater than US$120 million
	  	1.50% pa

 3. In all other respects the Advisory Agreement remains unchanged and of full force and effect. 

  
 2 

 IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of
the day and year first above written. 
  

			
	CERES MANAGED FUTURES LLC
		
	By		 /s/ Walter Davis

			Walter Davis
			President
	
	MORGAN STANLEY SMITH BARNEY BORONIA I, LLC
		
	By:		Ceres Managed Futures LLC
			(Trading Manager)
		
	By		 /s/ Walter Davis

			Walter Davis
			President
	
	BORONIA CAPITAL PTY LTD.
		
	By		 /s/ Angus Grinham

			 Angus Grinham
 Director

  
 3EX-10.14(b)

 Exhibit 10.14(b) 

AMENDMENT NO. 2 TO THE ADVISORY AGREEMENT 

This AMENDMENT NO. 2 (the “Amendment) dated effective as of January 1, 2015 to the ADVISORY AGREEMENT made as of the 1st day of
April, 2008, among CERES MANAGED FUTURES LLC (formerly Demeter Management Corporation), a Delaware limited liability company (the “Trading Manager”), MORGAN STANLEY SMITH BARNEY BORONIA I, LLC (formerly Morgan Stanley Managed Futures GMF
I, LLC), a Delaware limited liability company (the “Trading Company”) and BORONIA CAPITAL PTY LTD. (formerly Grinham Managed Funds Pty. Ltd.), a New South Wales, Australia proprietary limited company (the “Trading Advisor”), as
amended by that certain Amendment No. 1 to the Advisory Agreement dated as of January 1, 2013 (the “First Amendment”) among the Trading Manager, the Trading Company and the Trading Advisor (as so amended, the “Advisory
Agreement”). 
 W I T N E S S E T H: 

WHEREAS, the Trading Manager, the Trading Company and the Trading Advisor wish to amend the Advisory Agreement to decrease the Trading
Advisor’s management fee compensation. 
 NOW, therefore, the parties agree as follows: 

 

	 	1.	Interpretation 

 Capitalized and other defined terms used in this Amendment and not
otherwise expressly defined herein shall have the same respective meanings as set forth in the Agreement. In the event of any inconsistency between this Amendment and the Agreement, the terms of this Amendment shall prevail. 

 

	 	2.	Amendment 

 Section 5(a)(i) of the Advisory Agreement and the table added by the
First Amendment shall be deleted in their entirety and replaced by the following: 
 “The Trading Company shall pay the Trading Advisor
a monthly management fee equal to 1/12 of 1.5% (a 1.5% annual rate) of the Net Assets (as defined in Section 5(c) hereof) as of the first day of each month (the “Management Fee”). The Management Fee is payable in arrears within 30
calendar days of the end of the month for which it was calculated. For purposes of this Agreement, “Business Day” shall mean any day on which the securities markets are open in the United States.” 

 

	 	3.	Full Force and Effect 

 Except as otherwise provided in this Amendment, the Advisory
Agreement remains unchanged and in full force and effect. 

	 	4.	Counterparts; Valid Agreement 

 This Amendment may be executed in one or more
counterparts, each of which when so executed and delivered shall be deemed an original amendment agreement, and all of which together shall constitute one and the same instrument. This Amendment may be executed and delivered either in hard copy
originals or in scanned copies which, in either case, shall constitute a valid amendment agreement. 
  

	 	5.	Governing Law 

 This Amendment shall be governed by, and construed in accordance with,
the laws of the State of New York. 
 IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and
year first above written. 
  

			
	CERES MANAGED FUTURES LLC
		
	By 		 /s/ Patrick T. Egan

			Patrick T. Egan
			President & Director
	
	MORGAN STANLEY SMITH BARNEY BORONIA I, LLC
		
	By:		Ceres Managed Futures LLC
			(Trading Manager)
		
	By 		 /s/ Patrick T. Egan

			Patrick T. Egan
			President & Director
	
	BORONIA CAPITAL PTY LTD.
		
	By 		 /s/ Angus Grinham

			Angus Grinham
			Director

  
 2Exhibit 10.35

 

Promissory
Note

 

Date:
February 27, 2015

 

Borrower:
Coil Tubing Technology, Inc.

 

Borrower's
Mailing Address:

 

22305
Gosling Rd.

Spring,
Harris County, Texas 77389

 

Lender:
Arnold & Norma Rodriguez Family Limited Partnership, a Texas limited partnership

 

Place
for Payment:

 

6811
Theall Rd., Suite A, Houston, Harris County, Texas 77066, or any other place

that
Lender may designate in writing.

 

Principal
Amount: $760,000.00

 

Annual
Interest Rate: Seven Percent (7.00%)

 

Maturity
Date: March 1, 2030

 

Annual
Interest Rate on Matured, Unpaid Amounts: Seven Percent (7.00%)

 

Terms
of Payment (principal and interest):

 

The
Principal Amount is due and payable in one hundred eighty (180) equal monthly installments of SIX THOUSAND EIGHT HUNDRED THIRTY-ONE
AND 09/100 DOLLARS ($6,831.09), beginning April 1,2015and continuing on the same day of each month until the unpaid principal
and accrued, unpaid interest have been paid in full.

 

Security
for Payment: This note is secured by a vendor's lien and superior title retained in a deed from Arnold & Norma Rodriguez
Family Limited Partnership, a Texas limited partnership to Borrower dated February 27, 2015 and by a deed of trust of even date
from Coil Tubing Technology, Inc. to Keavin D. McDonald, Trustee, 17347 Village Green Dr., Suite 103, Houston. Texas 77040, both
of which cover the following real property:

 

See
Exhibit “A” attached hereto and made a part hereof.

 

Other
Security for Payment: None

 

Borrower
promises to pay to the order of Lender the Principal Amount. This note is payable at the Place for Payment and according to the
Terms of Payment. All unpaid amounts are due by the Maturity date. After maturity, Borrower promises to pay any unpaid principal
balance plus interest at the Annual Interest Rate on Matured, Unpaid Amounts.

 

If
Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral
to this note, Lender may declare the unpaid principal balance, earned interest, and any other amounts owed on the note immediately
due. Notwithstanding any other provision of this note, in the event of a default, before exercising any of Lender's remedies under
this note or any deed of trust or warranty deed with vendor's lien securing it, Lender will first give Borrower written notice
of default and Borrower will have ten days after notice is given in which to cure the default. If the default is not cured ten
days after notice, Borrower and each surety, endorser, and guarantor waive all demand for payment, presentation for payment, notice
of intention to accelerate maturity, notice of acceleration of maturity, protest, and notice of protest, to the extent permitted
by law.

 

    	1

    	 

    

 

Borrower
also promises to pay reasonable attorney's fees and court and other costs if this note is placed in the hands of an attorney to
collect or enforce the note. These expenses will bear interest from the date of advance at the Annual Interest Rate on Matured,
Unpaid Amounts. Borrower will pay Lender these expenses and interest on demand at the Place for Payment. These expenses and interest
will become part of the debt evidenced by the note and will be secured by any security for payment.

 

Prepayment:
Borrower may prepay this note in any amount at any time before the Maturity Date without penalty or premium.

 

Interest
on the debt evidenced by this note will not exceed the maximum rate or amount of nonusurious interest that may be contracted for,
take reserved, charged, or received under law. Any interest in excess of that maximum amount will be credited on the Principal
Amount or, if the Principal Amount has been paid, refunded. On any acceleration or required or permitted prepayment, any excess
interest will be canceled automatically as of the acceleration or prepayment or, if the excess interest has already been paid,
credited on the Principal Amount or, if the Principal Amount has been paid, refunded. This provision overrides any conflicting
provisions in this note and all other instruments concerning the debt.

 

Each
Borrower is responsible for all obligations represented by this note.

 

When
the context requires, singular nouns and pronouns include the plural.

 

If
any installment becomes overdue for more than fifteen days, at Lender's option a late payment charge of $25.00 maybe charged in
order to defray the expense of handling the delinquent payment.

 

A
default exists under this note if (1) (a) Borrower or (b) any other person liable on any part of this note or who grants a lien
or security interest on property as security for any part of this note (an "Other Obligated Party") fails to timely
pay or perform any obligation or covenant in any written agreement between Lender and Borrower or any Other Obligated Party; (2)
any warranty, covenant, or representation in this note or in any other written agreement between Lender and Borrower or any Other
Obligated Party is materially false when made;(3) a receiver is appointed for Borrower, any Other Obligated Party, or any property
on which a lien or security interest is created as security (the "Collateral Security") for any part of this note;(4)any
Collateral Security is assigned for the benefit of creditors;(5) a bankruptcy or insolvency proceeding is commenced by Borrower,
a partnership of which Borrower is a general partner, or an Other Obligated Party; (6) (a) a bankruptcy or insolvency proceeding
is commenced against Borrower, a partnership of which Borrower is a general partner, or an Other Obligated Party and (b) the proceeding
continues without dismissal for sixty days, the party against whom the proceeding is commenced admits the material allegations
of the petition against it, or an order for relief is entered; (7) any of the following parties is dissolved, begins to wind up
its affairs, is authorized to dissolve or wind up its affairs by its governing body or persons, or any event occurs or condition
exists that permits the dissolution or winding up of the affairs of any of the following parties: Borrower, a partnership of which
Borrower is a general partner, or an Other Obligated Party; and (8) any Collateral Security is impaired by loss, theft, damage,
levy and execution, issuance of an official writ or order of seizure, or destruction, unless it is promptly replaced with collateral
security of like kind and quality or restored to its former condition.

 

If
any provision of this note conflicts with any provision of a loan agreement, deed of trust, or security agreement of the same
transaction between Lender and Borrower, the provisions of the deed of trust will govern to the extent of the conflict.

 

This
note will be construed under the laws of the state of Texas, without regards to choice-of laws rules of any jurisdiction.

 

 

By: /s/Jason
Swinford

 

Name: Jason
Swinford

Title: Chief
Executive Officer

 

    	2

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