SEC Contract Filing

Filing Date: 2021-01-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>c40084588c.htm
<DESCRIPTION>MANAGEMENT AGREEMENT
<TEXT>
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 <div style="text-align: right; margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">Exhibit 10.1</div>
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 <div style="text-align: center; margin-right: 0.6pt; margin-bottom: 12pt; font-size: 12pt;"><u>M</u><u>ANAGEMENT AGREEMENT</u></div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">AGREEMENT made as of the 17th day of December, 2020 by and among CERES MANAGED FUTURES LLC, a Delaware limited
 liability company (&#8220;CMF&#8221;), CERES TACTICAL SYSTEMATIC L.P., a New York limited partnership (the &#8220;Partnership&#8221;) and DCM Systematic Advisors SA, a Swiss &#8220;S.A. - Soci&#233;t&#233; anonyme&#8221;&#160; (the &#8220;Advisor&#8221; or &#8220;DCM&#8221;).</div>
 <div style="text-align: center; margin-right: 0.6pt; margin-bottom: 12pt; font-size: 12pt;"><u>W</u>&#160;<u>I</u>&#160;<u>T</u>&#160;<u>N</u>&#160;<u>E</u>&#160;<u>S</u>&#160;<u>S</u>&#160;<u>E</u>&#160;<u>T</u>&#160;<u>H</u>:</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">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</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, such trading is to be conducted directly or indirectly through investment in a master fund of which CMF
 would be the trading manager and DCM would be the advisor; and</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, the Amended and Restated Limited Partnership Agreement effective as of November 22, 2017 (the &#8220;Partnership
 Agreement&#8221;) permits CMF to delegate to one or more commodity trading advisors CMF&#8217;s authority to make trading decisions for the Partnership; and</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, the Advisor is registered as a commodity trading advisor with the Commodity Futures Trading Commission
 (&#8220;CFTC&#8221;), is a member of the National Futures Association (&#8220;NFA&#8221;); and</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, CMF is registered as a commodity pool operator with the CFTC and is a member of NFA; and</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">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.</div>
 <div style="text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">NOW, THEREFORE, the parties agree as follows:</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">1.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 12pt;"><u>DUTIES OF THE ADVISOR</u>.&#160; (a) For the period and on the terms
 and conditions of this Agreement, January 1, 2021, the Advisor shall have sole authority and responsibility, as one of the Partnership&#8217;s agents and attorneys-in-fact, for directing the investment and reinvestment of the assets and funds of the
 Partnership allocated to it, whether directly or indirectly through a master fund, allocated to it from time to time by CMF in commodity interests, including 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.&#160; The Advisor may also engage in swap and other derivative transactions on behalf of the
 Partnership with the prior written approval of CMF.&#160; All such trading on behalf of the Partnership shall be (i) in accordance with the trading strategies and trading policies set forth in <u>Appendix B</u> 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 &#8220;CMF Trading Policies&#8221;) and (ii) pursuant to the trading
 strategy selected by CMF to be utilized by the Advisor in managing the Partnership&#8217;s assets allocated to it.&#160; CMF has initially selected the Advisor&#8217;s Diversified Alpha Program (the &#8220;Program&#8221;), as described in <u>Appendix A</u> attached hereto, to manage the Partnership&#8217;s assets allocated to it.&#160; 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.&#160; The Advisor may not deviate from the trading policies set forth in <u>Appendix B</u> without the prior written consent of the Partnership given by CMF.&#160; 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.</font></div>
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