SEC Contract Filing

Filing Date: 2018-02-02

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d517823dex101.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"><B>Exhibit 10.1 </B></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="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This AGREEMENT made as of February&nbsp;1, 2018, is by and among CERES MANAGED FUTURES LLC, a Delaware limited liability company
(&#147;CMF&#148;), CERES TACTICAL CURRENCY L.P., a Delaware limited partnership (the &#147;Partnership&#148;) and AE CAPITAL PTY LIMITED, a Victoria, Australia limited proprietary company (&#147;AE Capital&#148; or the &#147;Advisor&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>W I T N E S S E T H</U> : </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; 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:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, such trading to be conducted directly or through investment in CMF AE Capital Master Fund LLC, a Delaware limited liability company
(the &#147;Master Fund&#148;) of which CMF is the trading manager and AE Capital is the advisor; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Fourth Amended and
Restated Agreement of Limited Partnership of the Partnership, dated as of October&nbsp;31, 2017 (the &#147;Partnership Agreement&#148;), permit CMF to delegate to one or more commodity trading advisors CMF&#146;s authority to make trading decisions
on behalf of the Partnership; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; 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 the National Futures Association (&#147;NFA&#148;) and is registered with and regulated by the Australian Securities and Investments Commission; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; 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 the NFA; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; 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:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the parties agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <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,
spot and forward contracts. 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 Partnership shall be in accordance
with the trading strategies and trading policies set forth in the Partnership&#146;s </P>

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Confidential Private Placement Memorandum and Disclosure Document dated as of October&nbsp;31, 2017, as supplemented from time to time (the &#147;Memorandum&#148;), and as 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 allocated to it. CMF
has initially selected the Advisor&#146;s AE Systematic FX Fund Program (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 directed by it for the Partnership will be profitable or will not in