SEC Contract Filing

Filing Date: 2018-01-05

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d436261dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 10.1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>MANAGEMENT AGREEMENT </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">AGREEMENT (this &#147;Agreement&#148;) made as of the 1<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> day of January 2018, by and
among CERES MANAGED FUTURES LLC, a Delaware limited liability company (&#147;CMF&#148;), CERES TACTICAL SYSTEMATIC L.P., a New York limited partnership (the &#147;Partnership&#148;) and SECOR CAPITAL ADVISORS, LP, a Delaware limited partnership (the
&#147;Advisor&#148; or &#147;SECOR&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>W</U> <U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U> :
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">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 substantial capital appreciation; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, such trading is to be conducted directly or through investment in SECOR Master Fund L.P., a Delaware limited partnership (the
&#147;Master Fund&#148;) of which CMF is the general partner and SECOR is the advisor; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Amended and Restated Limited
Partnership Agreement dated as of November&nbsp;21, 2017 (collectively, the &#147;Partnership Agreement&#148;), permits CMF to delegate to one or more commodity trading advisors CMF&#146;s authority to make trading decisions for the Partnership; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Advisor is registered as a commodity trading advisor with the Commodity Futures Trading Commission (&#147;CFTC&#148;) and is
a member of National Futures Association (&#147;NFA&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, CMF is registered as a commodity trading advisor and a commodity
pool operator with the CFTC and is a member of NFA; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">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. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the parties agree as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. <U>DUTIES OF THE ADVISOR</U>. (a)&nbsp;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&#146;s agents and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorneys-in-fact,</FONT></FONT> 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 contracts, options on futures contracts and forward contracts, including foreign
exchange forwards, foreign exchange swaps and <FONT STYLE="white-space:nowrap">non-deliverable</FONT> foreign exchange forwards. The Advisor may also engage in swap transactions and other derivative transactions on behalf of the Partnership with the
prior written approval of CMF. All such trading on behalf of the </P>

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Partnership shall be in accordance with the trading strategies set forth in the Partnership&#146;s current Private Placement Offering Memorandum and Disclosure Document, as supplemented (the
&#147;Memorandum&#148;), and subject to the trading policies of CMF expressly set forth in <U>Appendix B</U> hereto (the &#147;CMF Trading Policies&#148;). Such trading policies may be changed from time to time upon receipt by the Advisor of prior
written notice of such change, and pursuant to the trading strategy selected by CMF to be utilized by the Advisor in managing the Partnership&#146;s assets. CMF has initially selected a variation of the program traded by SECOR Alpha Master Fund L.P.
(the &#147;Program&#148;), as described in Appendix A attached hereto, to manage the Partnership&#146;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 the Memorandum without the prior written consent of the Partnership given by CMF.
The Advisor makes no representation or warranty that the trading to be