Document:

Exhibit 10.10

 

PROMISSORY NOTE

Up to $130,000.00

 

	Interest Rate:  None	 	December 31, 2019

 

 

WHEREAS,
in connection with that certain Stock Purchase Agreement, dated as of August 5th, 2019 (the “Purchase Agreement”)
by and between Innovative Payment Solutions, Inc., a Nevada corporation (the “Holder”) and ViVi Holdings, Inc.,
a Delaware corporation (“ViVi”), ViVi purchased all of the stock of Qpagos Corporation, a Delaware corporation,
(the “Issuer”).

WHEREAS,
the parties acknowledge that the Issuer’s subsidiaries, Qpagos S.A.P.I de C.V. (“Qpagos Mexico”) and Redpag
Electronicos S.A.P.I de C.V. (“Redpag,” and with Qpagos Mexico, the “Subsidiaries”), are
owed approximately USD$320,000.00 as a refund of VAT from the Mexican Federal Tax Administration, or the applicable Mexican governmental
authority or entity (the “Mexican Governmental Authority”) for each of the tax years of 2015, 2016, 2017, 2018
and 2019 (each, a “VAT Refund” and collectively, the “VAT Refunds”);

WHEREAS,
the Issuer and the Holder have agreed that Holder shall receive forty-six percent (46%) of each VAT Refund, which in the aggregate
is expected to equal approximately One Hundred and Thirty Thousand Dollars and 00/100 ($130,000.00) (the “Principal Amount”);

NOW, FOR VALUE
RECEIVED, the Issuer hereby promises to pay to the order of Holder, the principal sum of up to One Hundred and Thirty Thousand
Dollars and 00/100 ($130,000.00), as provided herein.

1.                  
Maturity. This note shall mature five (5) business days following the receipt of final
VAT Refund by the Issuer (the “Maturity Date”) or such earlier date as this Note is required or permitted to
be repaid as provided hereunder.

2.                  
Payment of Principal. Issuer shall make payments of forty-six percent (46%) of each
VAT Refund received from the applicable Mexican Governmental Authority for each of the tax years of 2015, 2016, 2017, 2018 and
2019 within five (5) business days after the receipt by Issuer to Holder (each, a “Payment Date”).

3.                  
Prepayment. The Issuer may, at its sole option at any time, prepay this Note, without
penalty or premium, in whole or in part, together with interest on the outstanding principal balance of this Note.

4.                  
Manner of Payment. All sums payable under this Note shall be paid in lawful money of
the United States of America and in immediately available funds. Payments shall be made to the Holder by wire transfer to such
account as shall be specified by the Holder to the Issuer. If any payment under this Note shall become due on a day that is not
a business day, such payment shall be made on the next succeeding business day. 

 

    	 		 

     

    

5.                  
Right to Offset. The Principal Amount due under this note is subject to downward adjustment
and offset by the Issuer in the event a claim is asserted against the Issuer, the Subsidiaries, or Mr. Pereira, arising from any
guaranty or indemnification (a “Claim”) provided by the foregoing in connection with Contrato de Arrendamiento
(the “Lease Agreement”) dated November 1, 2019, entered into by and between Alvaro Hernandez Gonzalez (“Lessor”)
and Andrei Vadimovich Novikov (as “Lessee”). In addition, the Issuer may also offset against this Note arising
from any costs, fees or other charges incurred by the Issuer in defense of any such Claim.

6.                  
Information Rights. The Issuer agrees that so long as Holder holds this Note, the Issuer
shall furnish the Holder with a copy of its applications for the VAT Refunds, as and when filed, a copy of any correspondence relating
to the VAT Refunds with the applicable Mexican Governmental Authority and advisory/accounting firm that the Issuer has retained
to collect the VAT Refunds, within 5 business days’ of receipt and proof of payment of any VAT Refund, upon 5 business days’
notice.

 

7.                  
Events of Default; Remedies. 

(a)               
General. The occurrence of any one or more of the following events shall constitute
an event of default (each, an “Event of Default”) under this Note:

(i)                
Failure to Pay. The Issuer fails to pay the Principal Amount due on a Payment Date
under this Note when due and such failure continues for a period of ten (10) days after written notice from Holder;

(ii)              
Default in Covenants. The Issuer shall default in the observance or performance of
any of the covenants set forth in this Note and such failure continues for a period of ten (10) days after written notice from
Holder;

(iii)            
Bankruptcy. The Issuer shall: (i) admit in writing its inability to pay its debts as
they become due; (ii) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator or other custodian
for the Issuer or any of its property, or make a general assignment for the benefit of creditors; (iii) in the absence of such
application, consent or acquiesce in, permit or suffer to exist the appointment of a trustee, receiver, sequestrator or other custodian
for the Issuer or for any part of its property; or (iv) permit or suffer to exist the commencement of any bankruptcy, reorganization,
debt arrangement or other case or proceeding under any bankruptcy or insolvency law, or any dissolution, winding up or liquidation
proceeding, in respect of the Issuer and, if such case or proceeding is not commenced by the Issuer or converted to a voluntary
case, such case or proceeding shall be consented to or acquiesced in by the Issuer or shall result in the entry of an order for
relief.

(b)              
Waiver of Events of Default. The Holder may waive any Event of Default hereunder. Such
waiver shall be evidenced by written notice or other document specifying the Event of Default or Events of Default, as the case
may be, being waived.

    	 	2	 

     

    

 

(c)               
Remedies. In addition to all rights and remedies legally or equitably available to
the Holder, as long as an Event of Default has occurred and is continuing for a period of fifteen (15) calendar days, the Holder
shall have the option to declare the entire then unpaid Principal Amount of this Note immediately due and payable in full (irrespective
of whether any VAT Refunds have been received) without presentment, demand, protest or any other action nor obligation of the Holder
of any kind, all of which are hereby expressly waived.

8.                  
Covenants and Waivers. As a material inducement for the Holder entering into the Purchase
Agreement, the Issuer and all others who now or may at any time become liable for all or any part of the obligations evidenced
hereby, expressly agree hereby to be jointly and severally bound, and jointly and severally: 

 

(a)              
Filing for VAT Refunds. The Issuer agrees to cause its Subsidiaries to: (i) diligently
prepare and file the appropriate documentation in order to receive the VAT Refunds for 2015, 2016, 2017, 2018 and 2019 however
not later than one (1) year from the issuance date of this Note; and (ii) provide the Holder, as may be reasonably requested from
time to time, with information status updates on the collection of these funds from the applicable Mexican Governmental Authority;
and (iii) notify Holder within five (5) business days of any change in the advisory/accounting firm retained to collect the VAT
Refunds on the Subsidiaries’ behalf and thereupon provide Holder with their retainer agreement with the new advisory/account
firm.

(b)             
Presentment. Waive presentment and demand for payment, notices of nonpayment and of
dishonor, protest of dishonor, and notice of protest; 

(c)               
Notices. Except as expressly provided herein, waive any and all notices in connection
with the delivery and acceptance hereof and all other notices in connection with the performance, default, or enforcement of the
payment hereof or hereunder; 

(d)              
Diligence or Delays. Waive any and all lack of diligence and delays in the enforcement
of the payment hereof; 

9.       Mutilated,
Destroyed, Lost or Stolen Notes. In case this Note shall become mutilated or defaced, or be destroyed, lost or stolen, the
Issuer shall execute and deliver a new note of like principal amount in exchange and substitution for the mutilated or defaced
Note, or in lieu of and in substitution for the destroyed, lost or stolen Note. In the case of a mutilated or defaced Note, the
Holder shall surrender such Note to the Issuer. In the case of any destroyed, lost or stolen Note, the Holder shall furnish to
the Issuer: (i) evidence to its satisfaction of the destruction, loss or theft of such Note and (ii) such security or indemnity
as may be reasonably required by the Issuer to hold the Issuer harmless.

 

10.       Waiver
of Demand, Presentment, etc. The Issuer hereby expressly waives demand and presentment for payment, notice of nonpayment, protest,
notice of protest, notice of dishonor, notice of acceleration or intent to accelerate, bringing of suit and diligence in taking
any action to collect amounts called for hereunder and shall be directly and primarily liable for the payment of all sums owing
and to be owing hereunder, regardless of and without any notice, diligence, act or omission as or with respect to the collection
of any amount called for hereunder.

 

    	 	3	 

     

    

 

 

11.       Assignment.
The rights and obligations of the Issuer and the Holder of this Note shall be binding upon, and inure to the benefit of, the successors
and permitted assigns of the parties hereto. The Holder may not assign, pledge or otherwise transfer this Note or any interest
therein without the prior written consent of the Issuer. Interest and principal are payable only to the registered Holder of this
Note on the books and records of the Issuer.

 

12.       Waiver
and Amendment. Any provision of this Note, including, without limitation, the due date hereof, and the observance of any term
hereof, may be amended, waived or modified (either generally or in a particular instance and either retroactively or prospectively)
only with the written consent of the Issuer and the Holder.

 

13.             
Notices. All notices, demands, requests, consents, approvals and other communications
that may or are required to be given by either party to the other party hereunder shall be deemed to be sufficient if in writing
and (i) delivered in person, (ii) delivered and received by facsimile, if a confirmatory mailing in accordance herewith is also
made, (iii) duly sent by registered mail return receipt requested and postage prepaid, or (iv) duly sent by overnight delivery
service, in each case as addressed to such party at the address set forth below: 

 

If to the Issuer, to:

Qpagos Corporation, Inc.

951 Yamato Road, Suite 101

Boca Raton, FL 33431

Attention: Gaston Pereira, President

Email: gaston@vivi.solutions

 

With a copy to:

 

Bruce C. Rosetto,
Esq.

Greenberg Traurig
PA

5100 Town Center
Circle, Suite 400

Boca Raton, FL
33486

Facsimile #:
561-367-6225

Email: rosettob@gtlaw.com

 

 

If to the Holder:

 

Innovative Payment Solutions, Inc.

4768 Park Granada, Suite 200

Calabasas, CA 91302

Attention: William Corbett, CEO

Email: bill@innovatepaysolve.com

 

 

    	 	4	 

     

    

 

 

With a copy to:

 

Hank Gracin,
Esq.

Gracin &
Marlow. LLP

1825 NW Corporate
Blvd, Suite 110

Boca Raton, FL
33431

Facsimile #:
561-237-0803

Email: hgracin@gracinmarlow.com

 

All notices, demands, requests, consents, approvals
and other communications shall be deemed to have been received (i) at the same time it was personally delivered, (ii) on the receipt
of delivery by email transmission or by facsimile, (iii) five (5) days after mailing via registered mail return receipt requested
whether signed for or not, to the foregoing persons at the addresses set forth above or (iv) the next day when sent by overnight
delivery service. The above shall constitute service despite rejection or other refusal to accept or inability to deliver because
of changed address for which no notice has been received.

 

14.             
Construction; Governing Law. All issues and questions concerning the construction,
validity and interpretation of this Note and all matters pertaining hereto shall be governed by and construed in accordance with
the laws of the state of Delaware, without regard to any choice of law or conflict of law rules or provisions (whether of the state
of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the state of
Delaware. 

15.             
Consent to Jurisdiction. TO INDUCE THE HOLDER TO ACCEPT THIS NOTE, THE ISSUER IRREVOCABLY
AGREES THAT, SUBJECT TO THE HOLDER'S SOLE AND ABSOLUTE ELECTION, ALL ACTIONS OR PROCEEDINGS IN ANY WAY ARISING OUT OF OR RELATED
TO THIS NOTE WILL BE LITIGATED SOLELY IN THE VENUE AND JURISDICTION OF THE COURTS ENCOMPASSING THE STATE OF DELAWARE. THE ISSUER
HEREBY CONSENTS AND SUBMITS TO THE JURISDICTION OF ANY COURT LOCATED WITHIN THE STATE OF DELAWARE, WAIVES PERSONAL SERVICE OF PROCESS
UPON THE ISSUER, AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO THE ISSUER AT THE ADDRESS
STATED IN THE PREAMBLE AND SERVICE SO MADE WILL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT. THE PREVAILING PARTY(IES) IN ANY
SUCH ACTION OR PROCEEDING SHALL BE ENTITLED TO RECOVER ITS REASONABLE ATTORNEYS’ FEES AND COSTS FROM THE OTHER PARTY(IES).

16.             
Waiver of Jury Trial. THE ISSUER AND THE HOLDER (BY ACCEPTANCE OF THIS NOTE), HAVING
BEEN REPRESENTED BY COUNSEL, EACH KNOWINGLY AND VOLUNTARILY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING,
WHETHER CLAIM OR COUNTERCLAIM, BROUGHT OR INSTITUTED BY THE HOLDER, THE ISSUER OR
ANY SUCCESSOR OR ASSIGN OF THE HOLDER OR THE ISSUER (a) UNDER THIS NOTE OR UNDER ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT
DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION WITH THIS NOTE OR (b) ARISING FROM ANY RELATIONSHIP EXISTING
IN CONNECTION WITH THIS NOTE, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING WILL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.
THE ISSUER AGREES THAT IT WILL NOT ASSERT ANY CLAIM AGAINST THE HOLDER ON ANY THEORY OF LIABILITY FOR SPECIAL, INDIRECT, CONSEQUENTIAL,
INCIDENTAL OR PUNITIVE DAMAGES. 

    	 	5	 

     

    

 

 

17.             
Severability. If one or more provisions of this Note are held to be unenforceable under
applicable law, such provisions shall be excluded from this Note, and the balance of this Note shall be interpreted as if such
provisions were so excluded and shall be enforceable in accordance with its terms.

 

18.             
Headings. Section headings in this Note are for convenience only, and shall not be
used in the construction of this Note.

 

[Signature Page Follows]

 

 

 

    	 	6	 

     

    

 

 

 

 IN WITNESS WHEREOF, the Issuer
has caused this Note to be issued as of the date first above written.

 

 

 

QPAGOS
CORPORATION, INC.

By:/s/ Gaston Pereira

Name: Gaston Pereira

Title: President

 

    	 	7EXECUTION VERSION

  

  

  MANAGEMENT AGREEMENT

  

  

  AGREEMENT made as of the 1ST day of January, 2020 by and among CERES MANAGED FUTURES LLC, a Delaware limited liability company ("CMF"), CERES TACTICAL
    SYSTEMATIC L.P., a New York limited partnership (the "Partnership") and MILLBURN RIDGEFIELD CORPORATION, a Delaware corporation (the "Advisor" or "Millburn").

  

  

  W I TN E S S E T H:

  

  

  WHEREAS, CMF is the general partner of the Partnership, a limited partnership organized for the purpose of speculative trading of commodity interests, including
    futures contracts, options, forward contracts, swaps and other derivative instruments with the objective of achieving capital appreciation; and

  

  

  WHEREAS, the Amended and Restated Limited Partnership Agreement effective as of November 22, 2017 (the "Partnership Agreement") permits CMF to delegate to one or
    more commodity trading advisors CMF's authority to make trading decisions for the Partnership; and

  

  

  WHEREAS, the Advisor is registered as a commodity trading advisor with the Commodity Futures Trading Commission ("CFTC") and is a member of the National Futures
    Association ("NFA"); and

  

  

  WHEREAS, CMF is registered as a commodity pool operator with the CFTC and is a member of NFA; and

  

  

  WHEREAS, CMF, the Partnership and the Advisor wish to enter into this Agreement in order to set forth the terms and conditions upon which the Advisor will render and
    implement advisory services in connection with the conduct by the Partnership of its commodity interest trading activities during the term of this Agreement.

  

  

  NOW, THEREFORE, the parties agree as follows:

  

  

  1.          DUTIES OF THE ADVISOR . (a) For the period and on the terms and conditions of this Agreement, the Advisor shall have sole authority and responsibility, as one of the Partnership's agents and attorneys-in-fact, for
        directing the investment and reinvestment of the assets and funds of the Partnership allocated to it from time to time by CMF in commodity interests, which may include commodity futures contracts, options, spot and forward contracts (including
        exchange-cleared forward contracts) and over-the-counter foreign exchange (including currency spot and swap contracts) and exchange-cleared swap contracts. The Advisor may also engage in swap and other derivative transactions on behalf of the
        Partnership with the prior written approval of CMF. All such trading on behalf of the Partnership shall be (i) in accordance with the trading strategies and trading policies set forth in Appendix B hereto as such trading policies may be changed from time to time upon receipt by the Advisor of prior written notice of such change (the "CMF Trading Policies") and (ii) pursuant to the trading strategy selected by CMF to
        be utilized by the Advisor in managing the Partnership's assets. CMF has initially selected the Advisor's Multi-Markets Program (the "Program"), as described in Appendix A attached hereto (and as further described in the Advisor's disclosure document, which has been provided to CMF

  

  

  

  

  
    
      

  

  
  (the "Advisor Disclosure Document")), to manage the Partnership's assets allocated to it. Any open positions or other investments at the time of
    receipt of such notice of a change in trading policy shall not be deemed to violate the changed policy and shall be closed or sold in the ordinary course of trading. The Advisor may not deviate from the trading policies set forth in Appendix B
    without the prior written consent of the Partnership given by CMF. The Advisor makes no representation or warranty that the trading to be directed by it for the Partnership will be profitable or will not incur losses.

  

  

  (b)          CMF acknowledges receipt of the description of the Advisor's Program, attached hereto as Appendix A
      and the Advisor Disclosure Document. All trades made by the Advisor for the account of the Partnership shall be cleared through such clearing futures commission merchants or foreign exchange prime brokers as CMF shall direct (collectively, "Clearing
      Brokers") and shall be executed through such commodity broker or other executing brokers selected by the Advisor with the prior written approval of CMF (which approval may be given via EGUS or by email) and the Advisor shall have no authority or
      responsibility for selecting or supervising any such broker in connection with the execution, clearance or confirmation of transactions for the Partnership or for the negotiation of brokerage rates charged therefor. However, the Advisor, with the
      prior written permission (by original, fax copy or email copy) of CMF, may enter into swaps and other derivative transactions permitted under Section l(a) with any swap dealer it chooses for execution with instructions to give-up the trades to the
      swap dealer designated by CMF, provided that the swap dealer and any give-up or other fees are approved in advance by CMF, provided that swap dealer and any give-up or floor brokerage fees are approved in advance by CMF. All give-up or similar fees
      relating to the foregoing shall be paid by the Partnership after all parties have executed the relevant give-up agreements (via EGUS or by original, fax copy or email copy). The Clearing Brokers shall at all times have custody of the assets in the
      Account, and the Advisor shall not be responsible for the management of any cash or reserve assets held in the Account.

  (c)          The initial allocation of the Partnership's assets to the Advisor shall be made to the Program, as
      described in Appendix A and the Advisor Disclosure Document, provided that CMF, the Partnership and the Advisor agree that the leverage applied to the assets of the Partnership allocated to the Advisor shall initially be 2x and may be changed
      by CMF from time to time with 30 days' prior notice to the Advisor; provided however, that in no event will the leverage applied to the assets of the Partnership be increased to more than 2x. In the event the
      Advisor wishes to use a trading system or methodology other than or in addition to the Program in connection with its trading for the Partnership, either in whole or in part, it may not do so unless the Advisor gives CMF prior written notice of its
      intention to utilize such different trading system or methodology and CMF consents thereto in writing. In addition, the Advisor will provide five days' prior written notice to CMF of any change in the Advisor Disclosure Document, the trading system
      or methodology to be utilized for the Partnership which the Advisor deems material. If the Advisor deems such change in the Advisor Disclosure Document, system or methodology or in markets traded to be
      material, the changed Advisor Disclosure Document, system or methodology or markets traded will not be utilized for the Partnership without the prior written consent of CMF. In addition, the Advisor will notify CMF of any changes to the trading
      system or methodology that would require a change in the description of the trading strategy or methods described in Appendix A and the Memorandum to be materially accurate. Further, the Advisor will provide the Partnership with a current list of all
      commodity interests to be traded for the Partnership's account,

  

  

  

  

  
    2

    
      

  

  which is attached as Appendix C to this Agreement, and the Advisor will not trade any additional commodity interests for such account without
    providing notice thereof to CMF and receiving CMF's written approval. The Advisor also agrees to provide CMF, on a monthly basis, with a written report of the assets under the Advisor's management together with all other matters deemed by the Advisor
    to be material changes to its business not previously reported to CMF. The Advisor further agrees that it will convert foreign currency balances (not required to margin positions denominated in a foreign currency) to U.S. dollars no less frequently
    than monthly.

  

  

  (d)          The Advisor agrees to make all material disclosures to the Partnership regarding itself and its
      principals as defined in Part 4 of the CFTC's regulations ("principals"), its manager(s), employees and member(s), their trading performance and general trading methods, its customer accounts (but not the identities of or identifying information with
      respect to its customers) and otherwise as are required in the reasonable judgment of CMF to be made in any filings required by federal or state law or NFA rule or order. Notwithstanding Sections l(d) and 4(d) of this Agreement, the Advisor is not
      required to disclose the actual trading results of proprietary accounts of the Advisor or its principals unless CMF reasonably determines that such disclosure is required in order to fulfill its fiduciary obligations to the Partnership or the
      reporting, filing or other obligations imposed on it by federal or state law or NFA rule or order. The Partnership and CMF acknowledge that the trading advice to be provided by the Advisor is a property right belonging to the Advisor and that they
      will keep all such advice confidential.

  (e)          The Advisor understands and agrees that CMF may designate other trading advisors for the Partnership
      and apportion or reapportion to such other trading advisors the management of an amount of Net Assets of the Partnership (as defined in Section 3(b) hereof) as it shall determine in its absolute discretion. The designation of other trading advisors
      and the apportionment or reapportionment of Net Assets of the Partnership to any such trading advisors pursuant to this Section 1 shall neither terminate this Agreement nor modify in any regard the respective rights and obligations of the parties
      hereunder.

  

  

  (f)          CMF may, from time to time, in its absolute discretion, select additional trading advisors and reapportion funds among
      the trading advisors for the Partnership as it deems appropriate. CMF shall use its best efforts to make reapportionments, if any, as of the first day of a calendar month. The Advisor agrees that it may be called upon at any time promptly to
      liquidate positions in CMF's sole discretion so that CMF may reallocate the Partnership's assets, meet margin calls on the Partnership's account, fund redemptions, or for any other reason, except that CMF will not require the liquidation of specific
      positions by the Advisor. CMF will use its best efforts to give two days' prior notice to the Advisor of any reallocations or liquidations.

  

  

  (g)          The Advisor shall assume financial responsibility for any errors committed or caused by it in transmitting orders for the
      purchase or sale of commodity interests for the Partnership's account including payment to the brokers of the floor brokerage commissions; exchange, NFA fees, and other transaction charges and give-up charges incurred by the brokers on such trades.
      The Advisor's errors shall include, but not be limited to, inputting improper trading signals or communicating incorrect orders to the commodity brokers. The Advisor shall have an affirmative obligation to promptly notify CMF in accordance with the
      provisions of Section 8(a)(iii) of any errors with respect to the account, and the Advisor shall use its best efforts to identify and promptly notify CMF of any order or trade which the Advisor reasonably believes

  

  

  
    3

    
      

  

  was not executed in accordance with its instructions to any broker utilized to execute orders for the Partnership. For purposes of calculating the
    Advisor's responsibility for trade error losses pursuant to this Section 1(g), the amount of trade error losses incurred in any one quarter shall be netted against the amount of trade error gains accrued in that same quarter, if any.

  

  

  2.          INDEPENDENCE OF THE ADVISOR. For all purposes herein, the Advisor shall
      be deemed to be an independent contractor and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Partnership in any way and shall not be deemed an agent, promoter or sponsor of the Partnership,
      CMF, or any other trading advisor. The Advisor shall not be responsible to the Partnership, CMF, any trading advisor or any limited partners for any acts or omissions of any other trading advisor to the Partnership.

  

  

  3.          COMPENSATION. In consideration of and as compensation for all of the services to be rendered by the
      Advisor to the Partnership under this Agreement, the Partnership shall compensate the Advisor in accordance with Schedule I attached hereto and such Schedule
          I shall survive the termination of this Agreement.

  

  

  (a)          RIGHT TO ENGAGE  IN OTHER  ACTIVITIES.  (i) The services provided by the Advisor  hereunder  are  not to be deemed 
        exclusive.  CMF on its own  behalf and on  behalf of the Partnership acknowledges that, subject to the terms of this Agreement, the Advisor and its officers, manager(s), employees and member(s) may render advisory, consulting and management
        services to other clients and accounts. The Advisor and its officers, manager(s), employees and member(s) shall be free to trade for their own accounts and to advise other investors and manage other commodity accounts during the term of this
        Agreement and to use the same information, computer programs and trading strategies, programs or formulas which they obtain, produce  or utilize in the performance of services to CMF for  the  Partnership.  However,  the  Advisor represents,
        warrants and agrees that it believes the rendering of such consulting, advisory and management services to other accounts and entities will not require any material change in the Advisor's basic trading strategies for the Partnership  and will not
        affect  the capacity of the Advisor to continue to render services  to CMF for the  Partnership  of the quality and nature  contemplated  by this Agreement.

  

  

  (b)          If, at any time during the term of this Agreement, the Advisor is required to aggregate the Partnership's
      commodity positions with the positions of any other person for purposes of applying CFTC- or exchange-imposed speculative position limits, the Advisor agrees that it will promptly notify CMF in writing if the Partnership's positions are included in
      an aggregate amount which exceeds the applicable speculative position limit. The Advisor agrees that, if its trading recommendations are altered because of the application of any speculative position limits, it will not modify the trading
      instructions with respect to the Partnership's account in such manner as to affect the Partnership substantially disproportionately as compared with the Advisor's other accounts. The Advisor further represents, warrants and agrees that under no
      circumstances will it knowingly or deliberately use trading programs, strategies or methods for the Partnership that are inferior to strategies or methods employed for any other client or account and that it will not knowingly or deliberately favor
      any client or account managed by it over any other client or account in any manner, it being acknowledged, however, that different trading programs, strategies or methods may be utilized for differing sizes of accounts, accounts with different
      trading policies or risk parameters, accounts experiencing differing inflows or outflows of equity,

  

  

  
    4

    
      

  

  accounts that commence trading at different times, accounts that have different portfolios or different fiscal years, accounts utilizing different
    executing brokers and accounts with other differences, and that such differences may cause divergent trading results.

  

  

  (c)          It is acknowledged that the Advisor and/or its officers, manager(s), employees and member(s) presently
      act, and it is agreed that they may continue to act, as advisor for other accounts managed by them, and may continue to receive compensation with respect to services for such accounts in amounts which may be more or less than the amounts received
      from the Partnership.

  

  

  (d)          The Advisor agrees that it shall make such information available to CMF respecting the performance of the
      Partnership's account as compared to the performance of other accounts managed by the Advisor or its principals utilizing the same investment strategy, if any, as shall be reasonably requested by CMF. The Advisor presently believes and represents
      that existing speculative position limits will not materially adversely affect its ability to manage the Partnership's account given the potential size of the Partnership's account and the Advisor's and its principals' current accounts and all
      proposed accounts for which they have contracted to act as trading advisor.

  

  

  4.          TERM. (a) This Agreement shall continue in effect until December 31, 2020 (the
      "Initial Termination Date"). If this Agreement is not terminated on the Initial Termination Date, as provided for herein, then, this Agreement shall automatically renew for an additional one-year period and shall continue to renew for additional
      one-year periods until this Agreement is otherwise terminated, as provided for herein. At any time during the term of this Agreement, CMF may terminate this Agreement upon 5 days' notice to the Advisor. At any time during the term of this Agreement,
      CMF may elect to immediately terminate this Agreement if (i) the Net Asset Value per Unit shall decline as of the close of business on any day to $400 or less; (ii) the Net Assets of the Partnership allocated to the Advisor (adjusted for redemptions,
      distributions, withdrawals or reallocations, if any) decline by 25% or more as of the end of a trading day from such Net Assets of the Partnership's previous highest value; (iii) limited partners owning at least 50% of the outstanding units of the
      Partnership (excluding interests owned by CMF, an affiliate of CMF or any of their employees) shall vote to require CMF to terminate this Agreement; (iv) the Advisor fails to comply with the terms of this Agreement; (v) CMF, in good faith, reasonably
      determines that the performance of the Advisor has been such that CMF's fiduciary duties to the Partnership require CMF to terminate this Agreement; (vi) CMF reasonably believes that the application of speculative position limits will substantially
      affect the performance of the Partnership; (vii) the Advisor fails to conform to the trading policies set forth in the Partnership Agreement or Appendix B, as they may be changed from time to time; (viii) the Advisor merges, consolidates with
      another entity, sells a substantial portion of its assets, or becomes bankrupt or insolvent, (ix) the Advisor's registration as a commodity trading advisor with the CFTC or its membership in NFA or any other regulatory authority, is terminated or
      suspended; or (x) CMF reasonably believes that the Advisor has contributed or may contribute to any material operational, business or reputational risk to CMF or CMF's affiliates. This Agreement will immediately terminate upon dissolution of the
      Partnership or upon cessation of trading by the Partnership prior to dissolution.

  

  

  
    5

    
      

  

  (b)          The Advisor may terminate this Agreement by giving not less than 30 days' written notice to CMF (i)
      in the event that the trading policies of the Partnership as set forth in Appendix B are changed in such manner that the Advisor reasonably believes will adversely affect the performance of its trading strategies; (ii) after the Initial Termination
      Date or (iii) in the event that CMF or the Partnership fails to comply with the terms of this Agreement. The Advisor may immediately terminate this Agreement if CMF's registration as a commodity pool operator or its membership in NFA is terminated or
      suspended.

  

  

  (c)          Except as otherwise provided in this Agreement, any termination of this Agreement in accordance with this Section 5 shall
      be without penalty or liability to any party, except for any fees due to the Advisor pursuant to Section 3 hereof.

  

  

  4.          INDEMNIFICATION. (a)(i) In any threatened, pending or completed action, suit, or proceeding to
      which the Advisor was or is a party or is threatened to be made a party arising out of or in connection with this Agreement or the management of the Partnership's assets by the Advisor or the offering and sale of units in the Partnership, CMF shall,
      subject to subsection (a)(iii) of this Section 6, indemnify and hold harmless the Advisor against any loss, liability, damage, fine, penalty, obligation, cost, expense (including, without limitation, attorneys' and accountants' fees, collection fees,
      court costs and other legal expenses), judgments and awards and amounts paid in settlement actually and reasonably incurred by it in connection with such action, suit, or proceeding if the Advisor acted in good faith and in a manner reasonably
      believed to be in or not opposed to the best interests of the Partnership, and provided that its conduct did not constitute gross negligence, bad faith, recklessness, intentional misconduct, or a breach of its fiduciary obligations to the Partnership
      as a commodity trading advisor, unless and only to the extent that the court or administrative forum in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all
      circumstances of the case, the Advisor is fairly and reasonably entitled to indemnity for such expenses which such court or administrative forum shall deem proper; and further provided that no indemnification shall be available from the Partnership
      if such indemnification is prohibited by Section 16 of the Partnership Agreement. The termination of any action, suit or proceeding by judgment, order or settlement shall not, of itself, create a presumption that the Advisor did not act in good faith
      and in a manner reasonably believed to be in or not opposed to the best interests of the Partnership.

  (ii)          Without limiting subsection (i) above, to the extent that the Advisor has been successful on the
      merits or otherwise in defense of any action, suit or proceeding referred to in subsection (i) above, or in defense of any claim, issue or matter therein, CMF shall indemnify the Advisor against the expenses (including, without limitation, attorneys'
      and accountants' fees) actually and reasonably incurred by it in connection therewith.

  

  

  (iii)          Any indemnification under subsection (i) above, unless ordered by a court or administrative forum, shall be made by CMF
      only as authorized in the specific case and only upon a determination by independent legal counsel in a written opinion that such indemnification is proper in the circumstances because the Advisor has met the applicable standard of conduct set forth
      in subsection (i) above. Such independent legal counsel shall be selected by CMF in a timely manner, subject to the Advisor's approval, which approval shall not be unreasonably withheld. The Advisor will be deemed to have approved CMF's selection
      unless the

  

  

  
    6

    
      

  

  Advisor notifies CMF in writing, received by CMF within five days of CMF's providing the Advisor, by email, the notice of CMF's selection, that the Advisor does not approve the selection.

  

  

  (iv)          In the event the Advisor is made a party to any claim, dispute or litigation or otherwise incurs any loss or expense as
      a result of, or in connection with, the Partnership's or CMF's activities or claimed activities unrelated to the Advisor, CMF shall indemnify, defend and hold harmless the Advisor against any loss, liability, damage, fine, penalty, obligation, cost
      or expense (including, without limitation, attorneys' and accountants' fees, court costs and other legal expenses) incurred in connection therewith.

  (v)          As used in this Section 6(a), the term "Advisor" shall include the Advisor, its affiliates,
      principals, officers, manager(s), employees and member(s) and the term "CMF" shall include the Partnership.

  

  

  (b)          (i) The Advisor agrees to indemnify, defend and hold harmless CMF, the Partnership and their affiliates against any loss,
      liability, damage, fine, penalty, obligation, cost or expense (including, without limitation, attorneys' and accountants' fees, collection fees, court costs and other legal expenses), judgments and awards and amounts paid in settlement reasonably
      incurred by them (A) as a result of the breach of any representations and warranties or covenants made by the Advisor in this Agreement, or (B) as a result of any act or omission of the Advisor relating to the Partnership if (i) there has been a final judicial or regulatory determination or a written opinion of an arbitrator pursuant to Section 14 hereof, to the effect that such acts or omissions violated the terms of this Agreement in any material
      respect or involved gross negligence, bad faith, recklessness or intentional misconduct on the part of the Advisor (except as otherwise provided in Section 1(g)), or (ii) there has been a settlement of any
      action or proceeding with the Advisor's prior written consent.

  

  

  (ii)          In the event CMF, the Partnership or any of their affiliates is made a party to
      any claim, dispute or litigation or otherwise incurs any loss or expense as a result of, or in connection with, the activities or claimed activities of the Advisor or its principals, officers, manager(s), employees and member(s) unrelated to CMF's or
      the Partnership's business, the Advisor shall indemnify, defend and hold harmless CMF, the Partnership or any of their affiliates against any loss, liability, damage, fine, penalty, obligation cost or expense (including, without limitation,
      attorneys' and accountants' fees, collection fees, court costs and other legal expenses) judgments, awards and amounts including amounts paid in settlement incurred in connection therewith.

  

  

  (c)          In the event that a person entitled to indemnification under this Section 5 is made a party to an action, suit or
      proceeding alleging both matters for which indemnification can be made hereunder and matters for which indemnification may not be made hereunder, such person shall be indemnified only for that portion of the loss, liability, damage, cost or expense
      incurred in such action, suit or proceeding which relates to the matters for which indemnification can be made.

  

  

  (d)          None of the indemnifications contained in this Section 6 shall be applicable with respect to default judgments, confessions
      of judgment or settlements entered into by the party claiming indemnification without the prior written consent, which shall not be unreasonably withheld or delayed, of the party obligated to indemnify such party.

  

  

  

  

  
    7

    
      

  

  (e)          The provisions of this Section 5 shall survive the termination of this Agreement.

  

  

  6.          REPRESENTATIONS, WARRANTIES AND AGREEMENTS.

  (a)          The Advisor represents and warrants that:

  

  

  (i)          All information with respect to the Advisor and its principals and the trading
      performance of any of them that has been provided to CMF, including, without limitation, the description of the Program contained in Appendix A and the Advisor Disclosure Document, is complete and accurate in all material respects and such
      information does not contain any untrue statement of a material fact or omit to state a material fact that is necessary to make such statements and information therein not misleading. All references to the Advisor and its principals, if any, in the
      Partnership's current Private Placement Offering Memorandum and Disclosure Document (the "Memorandum") or a supplement thereto will, after review and approval of such references by the Advisor prior to the use of such Memorandum in connection with
      the offering of Partnership units, be accurate in all material respects, except that with respect to pro forma or hypothetical performance information in such Memorandum, if any, this representation and warranty extends only to any underlying data
      made available by the Advisor for the preparation thereof and not to any hypothetical or pro forma adjustments.

  (ii)          The information with respect to the Advisor set forth in the actual performance
      tables in the Memorandum, if any, is based on all of the customer accounts managed on a discretionary basis by the Advisor's principals and/or the Advisor during the period covered by such tables and required to be disclosed therein, and such tables
      have been prepared by the Advisor or its agents in accordance with applicable CFTC and NFA rules and guidance, including, but not limited to, CFTC Rule 4.25. The performance track record of the Program that has been provided to CMF (the "Track
      Record"), and which may be used in the performance tables in the Memorandum, if any, is based on all of the Program customer accounts managed on a discretionary basis by the Advisor's principals and/or the Advisor during the period covered by such
      Track Record and required to be disclosed therein, and such Track Record has been prepared by the Advisor or its agents in accordance with applicable CFTC and NFA rules and guidance, including, but not limited to, CFTC Rule 4.25. The annual financial
      statements of Millburn Multi-Markets Trading L.P. (the "Reference Fund"), a private fund that employs the Program with respect to its assets, have been audited by an independent certified public accountant and the report thereon has been provided to
      CMF. The financial statements of the Program are not audited. The Reference Fund's financial statements will be audited no less frequently than annually during the term of this Agreement or, if shorter, for as long as the Reference Fund remains
      extant, and shall be provided to CMF and/or the Partnership at any time upon reasonable notice.

  

  

  (iii)          The Advisor will be acting as a commodity trading advisor with respect to the Partnership and not as a
      securities investment adviser and is duly registered with the CFTC as a commodity trading advisor, is a member of NFA, and is in compliance with any such other registration and licensing requirements as shall be necessary to enable it to perform its
      obligations hereunder. The Advisor agrees to maintain and renew such registrations and licenses during the term of this Agreement including, without limitation, registration as a commodity trading advisor with the CFTC and membership in NFA.

  

  

  
    8

    
      

  

  (iv)          The Advisor is a corporation duly organized, validly existing and in good standing
      under the laws of the State of Delaware and has full corporate power and authority to enter into this Agreement and to provide the services required of it hereunder.

  

  

  (v)          The Advisor will not, by acting as a commodity trading advisor to the Partnership, breach or cause to be
      breached any undertaking, agreement, contract, statute, rule or regulation to which it is a party or by which it is bound.

  

  

  (vi)          This Agreement has been duly and validly authorized, executed and delivered by the Advisor and is a
      valid and binding agreement enforceable in accordance with its terms.

  

  

  (vii)          At any time during the term of this Agreement that an offering memorandum or a prospectus relating to
      the Partnership units is required to be delivered in connection with the offer and sale thereof, the Advisor agrees upon the request of CMF to promptly provide the Partnership with such information as shall be necessary so that, as to the Advisor and
      its principals, such offering memorandum or prospectus is accurate.

  

  

  (b)          CMF represents and warrants for itself and the Partnership that:

  

  

  (i)          CMF is a limited liability company duly organized, validly existing and in good standing under the laws
      of the State of Delaware and has full limited liability company power and authority to perform its obligations under this Agreement.

  

  

  (ii)          CMF and the Partnership have the capacity and authority to enter into this
      Agreement on behalf of the Partnership.

  

  

  (iii)          This Agreement has been duly and validly authorized, executed and delivered on CMF's and the
      Partnership's behalf and is a valid and binding agreement of CMF and the Partnership enforceable in accordance with its terms.

  

  

  (iv)          CMF will not, by acting as the general partner to the Partnership and the Partnership will not, breach
      or cause to be breached any undertaking, agreement, contract, statute, rule or regulation to which it is a party or by which it is bound which would materially limit or affect the performance of its duties under this Agreement.

  

  

  (v)          CMF is registered as a commodity pool operator and is a member of NFA, and it will maintain and renew such
      registration and membership during the term of this Agreement.

  

  

  (vi)          The Partnership is a limited partnership duly organized and validly existing under the laws of the State
      of New York and has full limited partnership power and authority to enter into this Agreement and to perform its obligations under this Agreement.

  

  

  (vii)          The Partnership is a qualified eligible person as defined in CFTC Rule 4.7 and consents to being
      treated as an exempt account by the Advisor.

  

  

  
    9

    
      

  

  (c)          All representations, warranties and covenants contained in this Agreement shall be continuing during
      the term of this Agreement and the provisions of this Agreement shall survive the termination of this Agreement with respect to any matter arising while this Agreement was in effect. Each party hereby agrees that as of the date of this Agreement it
      is, and during its term shall be, in compliance with its representations, warranties and covenants herein contained. In addition, if at any time any event occurs which would make any of such representations, warranties or covenants not true, the
      affected party will use its best efforts to promptly notify the other parties of such fact.

  

  

  7.          COVENANTS OF THE ADVISOR. CMF AND THE PARTNERSHIP.

  

  

  (a)          The Advisor agrees as follows:

  

  

  (i)          In connection with its activities on behalf of the Partnership, the Advisor will
      comply with all applicable laws, including rules and regulations of the CFTC, NFA, swap execution facility and/or the commodity exchange on which any particular transaction is executed.

  

  

  (ii)          The Advisor will promptly notify CMF of the commencement of any investigation, suit,
      action or proceeding involving the Advisor or any of its affiliates, officers, manager(s), employees and member(s), agents or representatives, regardless of whether such investigation, suit, action or proceeding also involves CMF. The Advisor will
      provide CMF with copies of any correspondence (including, but not limited to, any notice or correspondence regarding the violation, or potential violation, of position limits) from or to the CFTC, NFA or any commodity exchange in connection with any
      material, non-routine investigation or audit of the Advisor's business activities. This paragraph shall not require the Advisor to provide all correspondence with the NFA during the course of a routine compliance examination. The Advisor will provide
      NFA's customary report of findings at the conclusion of a routine compliance examination.

  

  

  (iii)          In the placement of orders for the Partnership's account and for the accounts of any other client, the
      Advisor will utilize a pre-determined, systematic, fair and reasonable order entry system, which shall, on an overall basis, be no less favorable to the Partnership than to any other account managed by the Advisor. The Advisor acknowledges its
      obligation to review and reconcile the Partnership's positions, prices and equity in the account managed by the Advisor daily and within two business days to notify, in writing, the broker and CMF and the Partnership's brokers of (A) any error
      committed by the Advisor or its principals or employees; (B) any trade which the Advisor believes was not executed in accordance with its instructions; and (C) any discrepancy with a value of $10,000 or more (due to differences in the positions,
      prices or equity in the account) between its records and the information reported on the account's daily and monthly broker statements.

  

  

  (iv)          The Advisor will maintain a net worth of not less than $1,000,000 during the term of this Agreement.

  

  

  
    10

    
      

  

  (v)          The Advisor will use its best efforts to close out all futures positions prior to any
      applicable delivery period, and will use its best efforts to avoid causing the Partnership to take delivery of any commodity.

  

  

  (vi)          The Advisor will update any information previously provided to CMF and/or the Partnership under the
      Agreement, including, without limitation, information referenced in Section 7(a)(i) hereof.

  

  

  (vii)          The Advisor shall promptly notify CMF when the Advisor's open positions maintained by the Advisor
      exceed the Advisor's applicable speculative position limits.

  

  

  (viii)          Except as otherwise provided herein, the Advisor will provide copies of its Advisor Disclosure
      Document to CMF promptly each time it is updated.

  

  

  
    	
            (b)

          	
            CMF agrees for itself and the Partnership that:

          

  

  

  

  (i)          CMF and the Partnership will comply with all applicable laws, including rules and regulations of the CFTC, NFA, swap
      execution facility and/or the commodity exchange on which any particular transaction is executed to the extent that the failure to so comply would have a materially adverse effect on CMF's ability to act as described herein, and in the Memorandum.

  

  

  (ii)          CMF will promptly notify the Advisor of the commencement of any material suit, action or proceeding
      involving it or the Partnership, whether or not such suit, action or proceeding also involves the Advisor.

  

  

  	
          ,

        

  (iii)          CMF or the selling agents for the Partnership have policies, procedures, and internal controls in place that are
      reasonably designed to comply with applicable anti-money laundering laws, rules and regulations, including applicable provisions of the USA PATRIOT Act and applicable anti-bribery laws, rules and regulations. CMF or the selling agents for the
      Partnership have Customer Identification Programs ("CIP"), which require the performance of CIP due diligence in accordance with applicable USA PATRIOT Act requirements and regulatory guidance. CMF or the selling agents for the Partnership also have
      policies, procedures, and internal controls in place that are reasonably designed to comply with regulations and economic sanctions programs administered by the U.S. Department of the Treasury's Office of Foreign Assets Control. CMF or the selling
      agents for the Partnership, if any, have policies and procedures in place reasonably designed to comply with Section 312 of the USA PATRIOT Act, including processes reasonably designed to identify clients that may be senior foreign political figures
      1 in accordance with applicable requirements and regulatory guidance, and to conduct

  

  

  
    

  1 A "senior foreign
    political figure" is defined as a current or former senior official in the executive, legislative, administrative, military or judicial branches of a  non-U.S. government (whether elected or not), a current or former senior official of a major non-U.S. political party, or a current or former senior executive of a non-U. S. government-owned commercial enterprise. In addition, a "senior foreign
        political figure" includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior foreign political figure . For
        purposes of this definition, a "senior official" or "senior executive" means an individual with substantial authority over policy, operations, or the use of
        government-owned resources. An "immediate family member" of a senior foreign political figure means spouses,
        parents, siblings, children and a spouse's parents and siblings. A "close associate" of

  

  

  
    11

    
      

  

  enhanced scrutiny on such clients where required under applicable law. In addition, CMF or the selling agents for the Partnership, if any have policies and procedures
    in place reasonably designed to prohibit accounts for foreign shell banks2 in compliance with Sections 313 & 319 of the USA PATRIOT Act.

  

  

  8.          COMPLETE AGREEMENT.          This Agreement constitutes the entire agreement between the parties pertaining to the subject matter hereof.

  

  

  9.          ASSIGNMENT.  This Agreement may not be assigned by any party without the express written consent of the other parties.

  

  

  10.          AMENDMENT.          This
      Agreement may not be amended except by the written consent of the parties.

  

  

  11.          NOTICES. All notices, demands or requests required to be made or delivered under this Agreement
      shall be effective upon actual receipt and shall be made either by electronic (email) copy or in writing and delivered personally or by registered or certified mail or expedited courier, return receipt requested, postage prepaid, to the addresses
      below or to such other addresses as may be designated by the party entitled to receive the same by notice similarly given:

  

  

  If to CMF or to the Partnership:

  

  

  Ceres Managed Futures LLC

    522 Fifth Avenue

  New York, New York 10036

    Attention: Patrick Egan

    

    

    Email: patrick.egan@morganstanley.com

  

  

  If to the Advisor:

  

  

  Millburn Ridgefield Corporation

    55 West 46th Street, 31st Floor

    New York, NY 10036

    Attn: Gregg Buckbinder

    Phone: 212-332-7350

  E-mail: gbuckbinder@millburn.com

  

  

  With a copy to:

  

  

  Millburn Ridgefield Corporation

  

  

  

  

  
    
a senior foreign political figure means
      a person who is widely and publicly known (or is actually known) to be a close associate of a senior foreign political figure.

  

  

  2 The term shell bank means a bank that does not maintain a physical presence in any country and is not subject to inspection
      by a banking authority. In addition, a shell bank generally does not employ individuals or maintain operating records.

  

  

  

  

  
    12

    
      

  

  55 West 46th Street, 31st Floor

    New York, NY 10036

    Attn: Steven Felsenthal

    Phone: 212-332-7333

    E-mail: sfelsenthal@millburn.com

  

  

  12.          GOVERNING LAW.  This Agreement shall be governed  by and
        construed in accordance with the laws of the State of New York.

  

  

  13.          ARBITRATION. The parties agree that any dispute or controversy arising out of or relating to this
      Agreement or the interpretation thereof, shall be settled by arbitration in accordance with the rules, then in effect, of NFA or, if NFA shall refuse jurisdiction, then in accordance with the rules, then in effect, of the American Arbitration
      Association; provided, however, that the power of the arbitrator shall be limited to interpreting this Agreement as written and the arbitrator shall state in writing his reasons for his award, and further provided, that any such arbitration
      shall occur within the Borough of Manhattan in New York City. Judgment upon any award made by the arbitrator may be entered in any court of competent jurisdiction.

  

  

  14.          NO THIRD PARTY BENEFICIARIES. There are no third party beneficiaries to this
      Agreement, except that certain persons not party to this Agreement may have rights under Section 6 hereof.

  

  

  15.          COUNTERPARTS. This Agreement
        may be executed in any number of counterparts, including via facsimile or email, each of which is an original and all of which when taken together evidence the same
        agreement.

  

  

  
    13

    
      

  

  PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THIS BROCHURE OR
    ACCOUNT DOCUMENT IS NOT REQUIRED TO RE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING .IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING
    ADVISOR DISCLOSURE. CONSEQUENTLY THE COMMODITY FUTURES TRADING COMMISSION  HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS BROCHURE OR ACCOUNT DOCUMENT.

  

  

  YOU SHOULD ALSO BE AWARE: THAT THIS COMMODITY TRADING ADVISOR MAY ENGAGE IN TRADING FOREIGN FUTURES OR OPTIONS CONTRACTS. TRANSACTIONS ON MARKETS LOCATED OUTSIDE THE UNITED STATES, INCLUDING MARKETS FORMALLY LINKED
    · TO A UNITED STATES MARKET MAY BE SUBJECT TO REGULATIONS WHICH OFFER DIFFERENT OR DIMINISHED PROTECTION. FURTHER, UNITED STATES REGULATORY
      AUTHORITIES MAY BE UNABLE TO COMPEL THE ENFORCEMENT OF THE RULES OF REGULATORY AUTHORITIES OR MARKETS IN NON-UNITED STATES JURISDICTIONS WHERE YOUR TRANSACTIONS MAY BE EFFECTED.

  

  

  IN WITNESS WHEREOF, this Agreement 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 and Director

  

  

  

  

  CERES TACTICAL SYSTEMATIC L P.

  

  

  By : Ceres Managed Futures LLC

  (General Partner)

  

  

  

  

  By: /s/ Patrick T. Egan

  Patrick T. Egan

  President and Director

  

  

  MILLBURN RIDGEFIELD CORPORATION

  

  

  

  

  By /s/ Gregg Buckbinder

  Name: Gregg Buckbinder

  Title: President, COO & CFO

  

  

  

  

  

  

  

  

  
    14

    
      

  

  SCHEDULE I

  The compensation payable to the Advisor shall be as follows:

  

  

  	
           

          Account Leverage

        	
           

          Monthly Management Fee ("Management Fee")

        	
           

          Annual Incentive Fee ("Incentive Fee")

        
	
           

          lx

        	
           

          0.25%

        	
           

          28%

        
	
           

          l.5x

        	
           

          0.375%

        	
           

          28%

        
	
           

          2x

        	
           

          0.50%

        	
           

          28%

        

  

  

  (a)          The monthly Management Fee shall be equal to 1/12 of the applicable Management Fee
      indicated in the table above of the month-end Net Assets of the Partnership allocated to the Advisor (computed monthly by multiplying the Net Assets of the Partnership allocated to the Advisor as of the last business day of each month by the
      Management Fee indicated in the table above and dividing the result thereof by 12).

  

  

  (b)          The Annual Incentive Fee shall be equal to 28% of New Trading Profits (as such term is defined below)
      earned by the Advisor for the Partnership.

  

  

  (c)          "Net Assets of the Partnership" shall have the meaning set forth in Section 7(d)(2)
      of the Partnership Agreement and without regard to further amendments thereto, provided that in determining the Net Assets of the Partnership on any date, no adjustment shall be made to reflect any distributions, redemptions, management fees,
      administrative fees, ongoing selling agent fees or Incentive Fees payable as of the date of such determination.

  

  

  (d)          "New Trading Profits" shall mean the excess, if any, of Net Assets of the Partnership managed by the
      Advisor at the end of the fiscal period over Net Assets of the Partnership managed by the Advisor at the end of the highest previous fiscal period or Net Assets of the Partnership allocated to the Advisor at the date trading commences by the Advisor
      for the Partnership, whichever is higher, and as further adjusted to eliminate the effect on Net Assets of the Partnership resulting from new capital contributions, redemptions, reallocations or distributions, if any, made during the fiscal period
      decreased by interest or other income, not directly related to trading activity, earned on the Partnership's assets during the fiscal period, whether the assets are held separately or in margin accounts. Ongoing expenses shall be attributed to the
      Advisor based on the Advisor's proportionate share of Net Assets of the Partnership. Ongoing expenses shall not include expenses of litigation not involving the activities of the Advisor on behalf of the Partnership. Ongoing expenses include offering
      and organizational expenses of the Partnership. Interest income earned, if any, shall not be taken into account in computing New Trading Profits earned by the Advisor. If Net Assets of the Partnership allocated to the Advisor are reduced due to
      redemptions, distributions or reallocations (net of additions), there shall be a corresponding proportional reduction in the related loss carryforward amount that must be recouped before the Advisor is eligible to receive another Incentive Fee.

  

  

  

  

  
    15

    
      

  

  

  

  (e)          Annual Incentive Fees in respect of each calendar year shall be paid within twenty (20) business days following the end of the calendar year. The first calendar year Incentive Fee shall be due to the
        Advisor with respect to New Trading Profits, if any, earned from the commencement of trading by the Advisor on behalf of the Partnership through the end of such calendar year and subsequent Incentive Fees shall be due the Advisor with respect to
        each calendar year thereafter until termination of the Agreement. In the event of the termination of this Agreement as of any date which shall not be the end of a calendar year or a calendar month, as the case may be, the annual Incentive Fee shall
        be computed as if the effective date of termination were the last day of the then current calendar year.

  

  

  
    16

    
      

  

  APPENDIX A

  

  

  Description of Program

  

  

  The Milburn Multi-Markets Program implements a group of quantitative models that collectively trade futures, forward and spot contracts on currencies, interest rate
    instruments, stock indices, metals, energy and agricultural commodities. The aim of the program is to target opportunities in a wide range of global markets under a variety of conditions. Multi-Markets' trading strategies are based on the
    implementation of a multi-data input, statistical/machine learning framework, and are 100% systematic and quantitative in nature. This framework utilizes price, price-derivative, and non-price data sources or "features," in an attempt to provide an
    informed, context-specific and continuous view of portfolio positioning (long or short, and to what extent) in a particular market. Millburn's investment approach centers on the development of process-driven, measurable and risk-controlled methods to
    trade a universe of approximately 105 (which number may change from time to time) global currency spot and forward markets, and exchange-traded equity, fixed income and commodity futures markets.

  

  

  

  
    17

    
      

  

  APPENDIX B

  

  

  Trading Policies of Ceres Tactical Systematic L.P.

  

  

  
    	
            1.

          	
            The Partnership will invest its assets only in commodity interests that an advisor believes are traded in sufficient volume to permit ease of taking and liquidating positions.
              Sufficient volume, in this context, refers to a level of liquidity that an advisor believes will permit it to enter and exit trades without noticeably moving the market.

          

  

  

  

  
    	
            2.

          	
            The Advisor will not initiate additional positions in any commodity interest if these positions would result in aggregate positions requiring margin of more
              than 66 2/3% of the Partnership's net assets allocated to that advisor. To the extent the CFTC and/or exchanges have not otherwise established margin requirements with respect to particular contracts, (i) forward contracts in currencies will
              be deemed to have approximately the same margin requirements as the same or similar futures contracts traded on the Chicago Mercantile Exchange and (ii) swap contracts will be deemed to have margin requirements equivalent to the collateral
              deposits, if any, made with swap counterparties.

          

  

  

  

  
    	
            3.

          	
            The Partnership may occasionally accept delivery of a commodity. Unless such delivery is disposed of promptly by retendering the warehouse receipt representing the delivery to
              the appropriate clearinghouse, the physical commodity position will be fully hedged.

          

  

  

  

  
    	
            4.

          	
            The Partnership will not employ the trading technique commonly known as "pyramiding," in which the speculator uses unrealized profits on existing positions as margin for the
              purchase or sale of additional positions in the same or related commodities.

          

  

  

  

  
    	
            5.

          	
            The Partnership will not utilize borrowings except if the Partnership purchases or takes delivery of commodities. If the Partnership borrows money from CMF or any affiliate
              thereof to the extent permitted by NFA Rule 2-45, the lending entity in such case may not receive interest in excess of its interest costs, nor may the lender receive interest in excess of the amounts which would be charged the Partnership
              (without reference to CMF's financial abilities or guarantees) by unrelated banks on comparable loans for the same purpose, nor may the lender or any affiliate thereof receive any points or other financing charges or fees regardless of the
              amount. Use of lines of credit in connection with its forward trading does not, however, constitute borrowing for purposes of this trading limitation.

          

  

  

  

  
    	
            6.

          	
            From time to time, trading strategies such as spreads or straddles may be employed on behalf of the Partnership. "Spreads" or "straddles" include the
              simultaneous holding of contracts on the same commodity but with different delivery dates or markets. The trader of these contracts expects to earn a profit from a widening or narrowing of the difference between the prices of the two
              contracts.

          

  

  

  

  

  

  
    18

    
      

  

  

  

  
    	
            7.

          	
            The Partnership will not permit the churning of its commodity trading accounts. The term "churning" refers to the practice of entering and exiting trades
              with a frequency unwarranted by legitimate efforts to profit from the trades, driven by the desire to generate commission income.

          

  

  

  

  
    	
            8.

          	
            The Partnership will not purchase, sell, or trade securities (except securities approved by the CFTC for investment of customer funds).

          

  

  

  

  
    	
            9.

          	
            The Advisor will trade only in those futures interests that have been approved by CMF. The Partnership normally will not establish new positions in a futures
              interest for any one contract month or option if such additional positions would result in a net long or short position for that futures interest requiring as margin or premium more than 15% of the Partnership's net assets.

          

  

  

  

  
    	
            10.

          	
            In addition, the Partnership will, except under extraordinary circumstances, maintain positions in futures interests in at least two market segments (i.e., agricultural items, industrial items (including energies), metals, currencies, and financial instruments (including stock, financial, and economic indexes)) at any one time.

          

  

  

  

  
    	
            11.

          	
            The Advisor will not generally take a position after the first notice day in any futures interest during the delivery month of that futures interest, except
              to match trades to close out a position on the interbank foreign currency or other forward markets or liquidate trades in a limit market.

          

  

  

  

  

  

  

  

  
    19

    
      

  

  Appendix C

  List of Commodity Interests

  

  

  	
          Sector Name

        	
          Subsector

        	
          Instrument

        	
          Bloomberg symbol+ yellow key

        	
          Reuters Symbol

        
	
          Interest Rates

        	
          Long-Term Notes

        	
          10-YR US NOTE

        	
          TY+COMB Comdty

        	
          TY

        
	
          Interest Rates

        	
          Long-Term Notes

        	
          AUSSIE 10 YR BOND

        	
          XM+Comdty

        	
          2YTC

        
	
          Interest Rates

        	
          Long-Term Notes

        	
          CAD GOV BOND

        	
          CN+Comdty

        	
          CGB

        
	
          Interest Rates

        	
          Long -Term Notes

        	
          EURO BUND

        	
          RX+Comdty

        	
          FGBL

        
	
          Interest Rates

        	
          Long-Term Notes

        	
          EURO BUXL

        	
          UB+Comdty

        	
          FGBX

        
	
          Interest Rates

        	
          Long-Term Notes

        	
          FRENCH 10 YEAR BOND

        	
          OAT+Comdty

        	
          FOAT

        
	
          Interest Rates

        	
          Long -Term Notes

        	
          GILTS

        	
          Gs+Comdty

        	
          FLG

        
	
          Interest Rates

        	
          Long -Term Notes

        	
          ITALIAN 10 YEAR BOND

        	
          IK+Comdty

        	
          FBTP

        
	
          Interest Rates

        	
          Long -Term Notes

        	
          JGB

        	
          JB+COMB Comdty

        	
          JGB

        
	
          Interest Rates

        	
          Long-Term Notes

        	
          T-BOND

        	
          US+COMB Comdty

        	
          us

        
	
          Interest Rates

        	
          Long-Term Notes

        	
          US ULTRA BOND

        	
          WN+COMB Comdty

        	
          AUL

        
	
          Interest Rates

        	
          Medium-Term notes

        	
          2-YR US NOTE

        	
          TU+COMB Comdty

        	
          TU

        
	
          Interest Rates

        	
          Medium-Term notes

        	
          5-YR US NOTE

        	
          FV+COMB Comdty

        	
          FV

        
	
          Interest Rates

        	
          Medium-Term notes

        	
          AUSSIE 3 YR BOND

        	
          YM+Comdty

        	
          2YTT

        
	
          Interest Rates

        	
          Medium-Term notes

        	
          EURO BOBL

        	
          OE+Comdty

        	
          FGBM

        
	
          Interest Rates

        	
          Medium-Term notes

        	
          EURO SCHATZ

        	
          DU+Comdty

        	
          FGBS

        
	
          Interest Rates

        	
          Medium-Term notes

        	
          ITALIAN SHORT TERM

        	
          BTS+Comdty

        	
          FBTS

        
	
          Interest Rates

        	
          Short-Term Notes

        	
          AUSSIE BANK BILLS

        	
          IR+Comdty

        	
          2YBA

        
	
          Interest Rates

        	
          Short-Term Notes

        	
          CAN. BANKERS ACCEPT

        	
          BA+Comdty

        	
          BAX

        
	
          Interest Rates

        	
          Short -Term Notes

        	
          EURIBOR 3 MON

        	
          ER+Comdty

        	
          FEI

        
	
          Interest Rates

        	
          Short-Term Notes

        	
          EURO$

        	
          ED+COMB Comdty

        	
          ED

        
	
          Interest Rates

        	
          Short -Term Notes

        	
          STERLING RATES

        	
          Ls+Comdty

        	
          FSS

        
	
          Currencies

        	
          Gl0 Currencies

        	
          AUSSIE DOLLAR

        	
          AUD+Curncy

        	
          AUD

        
	
          Currencies

        	
          Gl0 Currencies

        	
          B-POUND

        	
          GBP+Curncy

        	
          GBP

        
	
          Currencies

        	
          EM Currencies

        	
          BRAZILIAN REAL

        	
          BRL+Curncy

        	
          BRL

        
	
          Currencies

        	
          GlO Currencies

        	
          CAD DOLLAR

        	
          CAD+Curncy

        	
          CAD

        
	
          Currencies

        	
          EM Currencies

        	
          CHILEAN PESO

        	
          CLP+Curncy

        	
          CLP

        
	
          Currencies

        	
          EM Currencies

        	
          COLOMBIAN PESO

        	
          COP+Curncy

        	
          COP

        
	
          Currencies

        	
          GlO Currencies

        	
          EURO CURR

        	
          EUR+Curncy

        	
          EUR

        
	
          Currencies

        	
          EM Currencies

        	
          INDIAN RUPEE

        	
          INR+Curncy

        	
          INR

        
	
          Currencies

        	
          EM Currencies

        	
          ISRAEL SHKL

        	
          ILS+Curncy

        	
          ILS

        
	
          Currencies

        	
          Gl0 Currencies

        	
          J-YEN

        	
          JPY+Curncy

        	
          JPY

        
	
          Currencies

        	
          EM Currencies

        	
          KOREAN WON

        	
          KRW+Curncy

        	
          KRW

        
	
          Currencies

        	
          EM Currencies

        	
          M EX. PESO

        	
          MXN+Curncy

        	
          MXN

        
	
          Currencies

        	
          GlO Currencies

        	
          NEW ZEALAND$

        	
          NZD+Curncy

        	
          NZD

        
	
          Currencies

        	
          GlO Currencies

        	
          NOR KRONE

        	
          NOK+Curncy

        	
          NOK

        
	
          Currencies

        	
          EM Currencies

        	
          POL ZLOTY

        	
          PLN+Curncy

        	
          PLN

        
	
          Currencies

        	
          EM Currencies

        	
          RUSSIAN RUBLE

        	
          RUB+Curncy

        	
          RUB

        
	
          Currencies

        	
          GlO Currencies

        	
          S-FRANC

        	
          CHF+Curncy

        	
          CHF

        
	
          Currencies

        	
          EM Currencies

        	
          SA RAND

        	
          ZAR+Curncy

        	
          ZAR

        
	
          Currencies

        	
          EM Currencies

        	
          SING DLR

        	
          SGD+Curncy

        	
          SGD

        
	
          Currencies

        	
          GlO Currencies

        	
          SWEDISH KRONA

        	
          SEK+Curncy

        	
          SEK

        
	
          Currencies

        	
          EM Currencies

        	
          TURK. LIRA

        	
          TRY+Curncy

        	
          TRL

        
	
          Crosses

        	
          Crosses

        	
          EUR/NOK

        	
          -

        	
          EURNOK

        
	
          Crosses

        	
          Crosses

        	
          EUR/PLN

        	
          -

        	
          EURPLN

        
	
          Crosses

        	
          Crosses

        	
          EUR/SEK

        	
          -

        	
          EURSEK

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          AMSTERDAM INDEX

        	
          EO+lndex

        	
          AEX

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          CAC40 INDEX

        	
          CF+lndex

        	
          FCE

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          CBOE VIX FUTURE

        	
          UX+lndex

        	
          vx

        

  

  

  
    20

    
      

  

  

  

  	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          China AS0 Index

        	
          XU+PIT Index

        	
          SFC

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          DAX INDEX

        	
          GX+lndex

        	
          FDX

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          DJ EURO STOXX 50

        	
          VG+lndex

        	
          STXE

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          E-MINI NASDAQ 100

        	
          NQ+lndex

        	
          NQ

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          E-MINI S&P

        	
          ES+lndex

        	
          ES

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          FTSE/JSE Top 40 Index Future

        	
          Al+lndex

        	
          ALSI

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          FT-SE

        	
          Zs+lndex

        	
          FFI

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          H-SHARES INDEX

        	
          HC+COMB Index

        	
          HCEI

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          HANG SENG

        	
          Hl+COMB Index

        	
          HSI

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          IBEX 35 PLUS

        	
          IB+lndex

        	
          MFXI

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          KUALA LUMPUR INDEX

        	
          IK+lndex

        	
          FKLI

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          MINIDJIA

        	
          DM+lndex

        	
          YM

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          MINI MSCI EAFE

        	
          MFS+lndex

        	
          MFS

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          MINI MSCI EMG MKT

        	
          MES+lndex

        	
          MEM

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          MINI RUSSELL (CME)

        	
          RTY+lndex

        	
          RTY

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          OMX STOCKHOLM INDEX

        	
          QC+lndex

        	
          OMXS30

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          S&P MIB 30 INDEX

        	
          ST+lndex

        	
          IFS

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          S&P MIDCAP 400 EMINI

        	
          FA+lndex

        	
          DM

        
	
          Stock Indices

        	
          NS American Equity Indices

        	
          S&P TSE 60 INDEX

        	
          PT+lndex

        	
          SXF

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          SETS0 FUTURES

        	
          BC+lndex

        	
          SS0

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          SIMEX NIFTY INDEX

        	
          IH+lndex

        	
          SIN

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          SIMEX NIKKEi

        	
          Nl+PIT Index

        	
          SSI

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          SIMEX TAIWAN INDEX

        	
          TW+PIT Index

        	
          STW

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          SINGAPORE INDEX

        	
          QZ+COMB Index

        	
          SSG

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          SPl200

        	
          XP+lndex

        	
          2YAP

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          TAIEX INDEX

        	
          FT+COMB Index

        	
          TX

        
	
          Stock Indices

        	
          Asia/Pacific Equity Indices

        	
          TOPIX

        	
          TP+lndex

        	
          JTI

        
	
          Stock Indices

        	
          Euro/African Equity Indices

        	
          VSTOXX MINI

        	
          FVS+lndex

        	
          FVS

        
	
          Grains

        	
          Grains

        	
          BEAN OIL

        	
          BO+COMB Comdty

        	
          BO

        
	
          Grains

        	
          Grains

        	
          CORN

        	
          Cs+COMB Comdty

        	
          C

        
	
          Grains

        	
          Grains

        	
          KC WHEAT

        	
          KW+COMB Comdty

        	
          KW

        
	
          Grains

        	
          Grains

        	
          SOY MEAL

        	
          SM+COMB Comdty

        	
          SM

        
	
          Grains

        	
          Grains

        	
          SOYBEAN

        	
          Ss+COMB Comdty

        	
          s

        
	
          Grains

        	
          Grains

        	
          WHEAT

        	
          Ws+COMB Comdty

        	
          w

        
	
          Energy

        	
          Energy

        	
          BRENT CRUDE

        	
          CO+Comdty

        	
          LCO

        
	
          Energy

        	
          Energy

        	
          CRUDE

        	
          CL+COMB Comdty

        	
          CL

        
	
          Energy

        	
          Energy

        	
          GASOLINE RBOB

        	
          XB+COMB Comdty

        	
          RB

        
	
          Energy

        	
          Energy

        	
          HEAT OIL

        	
          HO+COMB Comdty

        	
          HO

        
	
          Energy

        	
          Energy

        	
          LONDON GAS OIL

        	
          QS+Comdty

        	
          LGO

        
	
          Energy

        	
          Energy

        	
          NAT GAS

        	
          NG+COMB Comdty

        	
          NG

        
	
          Metals

        	
          Industrial Metal

        	
          COPPER

        	
          HG+COMB Comdty

        	
          HG

        
	
          Metals

        	
          Precious Metal

        	
          GOLD

        	
          GC+COMB Comdty

        	
          GC

        
	
          Metals

        	
          Industrial Metal

        	
          LONDON ALUM HG

        	
          LA+Comdty

        	
          F_ TC

        
	
          Metals

        	
          Industrial Metal

        	
          LONDON COPPER

        	
          LP+Comdty

        	
          F_ HG

        
	
          Metals

        	
          Industrial Metal

        	
          LONDON LEAD

        	
          LL+Comdty

        	
          F_LF

        
	
          Metals

        	
          Industrial Metal

        	
          LONDON NICKEL

        	
          LN+Comdty

        	
          F_ NC

        
	
          Metals

        	
          Industrial Metal

        	
          LONDON ZINC

        	
          l.X+Comdty

        	
          F_HF

        
	
          Metals

        	
          Precious Metal

        	
          PLATINUM

        	
          PL+COMB Comdty

        	
          PL

        
	
          Metals

        	
          Precious Metal

        	
          SILVER

        	
          Sl+COMB Comdty

        	
          SI

        
	
          Softs

        	
          Softs

        	
          COCOA

        	
          CC+COMB Comdty

        	
          cc

        
	
          Softs

        	
          Softs

        	
          COFFEE

        	
          KC+COMB Comdty

        	
          KC

        
	
          Softs

        	
          Softs

        	
          COTTON

        	
          CT+ELEC Comdty

        	
          CT

        
	
          Softs

        	
          Softs

        	
          SUGAR

        	
          SB+COMB Comdty

        	
          SB

        
	
          Livestock

        	
          Livestock

        	
          HOGS

        	
          LH+COMB Comdty

        	
          LH

        
	
          Livestock

        	
          Livestock

        	
          LIVE CATTLE

        	
          LC+COMB Comdty

        	
          LC

        

  

  

  21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}]]