SMITH BARNEY FUTURES MANAGEMENT INC.

Exhibit 10.5

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▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇^▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇

November 30, 1995

Chesapeake Capital Corp.

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▇▇▇▇▇▇▇▇, ▇▇. ▇▇▇▇▇

Attention: ▇▇. ▇▇▇▇ ▇▇▇▇▇

Dear ▇▇. ▇▇▇▇▇:

We are writing with respect to your management agreement concerning the commodity pool to which reference is made above (the “Management Agreement”). We would like to extend the term of the Management Agreement so that the renewal date for the term of the Management Agreement in section 5 thereof will be June 30, 1995 (as agreed upon by us by letter agreement dated February 16, 1995) to January 31, 1996 and annually on June 30 thereafter. All other provisions of the Management Agreement will remain unchanged.

Please indicate your agreement to and acceptance of this modification by signing one copy of this letter and returning it to the attention of ▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ at the address above.

Very truly yours,

 

 

▇▇/48

 

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