SEC Contract Filing

Filing Date: 2020-11-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>c38517701c.htm
<DESCRIPTION>MANAGEMENT AGREEMENT
<TEXT>
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 <div style="text-align: right; margin-right: 0.6pt; margin-bottom: 12pt; font-size: 12pt;"><u> </u><font style="font-weight: bold;">Exhibit 10.1</font><u><br>
 </u></div>
 <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;">This AGREEMENT made as of the 13<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> day of October 2020 by and among CERES MANAGED FUTURES LLC, a Delaware limited liability company (&#8220;CMF&#8221;), CERES
 TACTICAL COMMODITY L.P., a New York limited partnership (the &#8220;Partnership&#8221;) and GEOSOL CAPITAL, LLC, a Texas limited liability company (&#8220;Geosol&#8221; or the &#8220;Advisor&#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 through investment in CMF CMF GSL Master Fund LLC (the &#8220;Master Fund&#8221;) of which CMF is the trading manager
 and Geosol is the advisor; and</div>
 <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, the Fifth Amended and Restated Limited Partnership Agreement dated as of October 31, 2016, as amended (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, which advisors may or may not have any prior experience managing client funds; 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 and commodity pool operator with the Commodity Futures Trading Commission (&#8220;CFTC&#8221;) and 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="margin-bottom: 12pt; text-indent: 72pt;"><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, effective November 1, 2020, 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, whether directly or indirectly through the Master Fund, allocated to it from time to time by CMF in commodity interests, including commodity futures, options on futures and
 cleared swap transactions. All such trading on behalf of the Partnership shall be (i) in accordance with the trading policies set forth in Appendix B attached 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.&#160; CMF has initially selected the Advisor&#8217;s
 Geosol U.S. Power and Natural Gas Program (the &#8220;Program&#8221;), as described in <u>Appendix A</u> attached hereto, to manage the Partnership&#8217;s assets allocated to it, whether directly or indirectly through the Master Fund.&#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 CMF Trading
 Policies 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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