Jacques Saulière
Exhibit 10.7(a)
June 1, 2012
Capital Fund Management SA
6 Boulevard Haussmann
75009 Paris
Frances
Attention: Mr. Jacques Sauliere
| Re: | Management Agreement Renewals |
Dear Mr. Sauliere:
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 Multi-Advisor Futures Fund L.P. II. |
| • | Tactical Diversified Futures Fund L.P. |
| • | CMF Capital Fund Management Master Fund L.P. |
| • | Institutional Futures Portfolio L.P. |
| • | Global Futures Fund Ltd. |
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 | ||
| CAPITAL FUND MANAGEMENT SA | ||
| By: | /s/ Jacques Saulière | |
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| Print Name: | Jacques Saulière | |
| Co - CEO | ||
| BC/sr | Capital Fund Management S.A. | |
