/s/ Paul Sedlack
Exhibit 10.3(a)
June 1, 2012
Graham Capital Management, L.P.
Rock Ledge Financial Center
40 Highland Avenue
Rowayton, CT 06853
Attention: Mr. Paul Sedlack
| Re: | Management Agreement Renewals |
Dear Mr. Sedlack:
We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the “Management Agreements”). We are extending the term of the Management Agreements through June 30, 2013 and all other provisions of the Management Agreements will remain unchanged.
| • | Diversified 2000 Futures Fund L.P. |
| • | Fairfield Futures Fund L.P. |
| • | Diversified Multi-Advisor Futures Fund L.P. |
| • | Diversified Multi-Advisor Futures Fund L.P. II. |
| • | Tactical Diversified Futures Fund L.P. |
| • | Fairfield Futures Fund L.P. II |
| • | CMF Graham Capital Master Fund L.P. |
Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Brian Centner at the address above or fax to ###-###-####. If you have any questions I can be reached at ###-###-####.
Very truly yours,
| CERES MANAGED FUTURES LLC | ||
| By: | /s/ Brian Centner | |
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| Brian Centner | ||
| Chief Financial Officer & Director | ||
| GRAHAM CAPITAL MANAGEMENT, L.P. | ||
| By: | /s/ Paul Sedlack | |
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| Print Name: | Paul Sedlack, CEO | |
| BC/sr |
