Amendment No. 3 to Advisory Agreement among Columbia Futures Fund, Demeter Management Corporation, and John W. Henry & Company, Inc.
Contract Categories:
Business Operations
›
Advisory Agreements
Summary
This amendment updates the Advisory Agreement between Columbia Futures Fund, its general partner Demeter Management Corporation, and John W. Henry & Company, Inc. The changes reduce the monthly management fee from 4% to 2% (annualized) and increase the quarterly incentive fee from 15% to 20%. All other terms of the original agreement remain unchanged. The new fee structure takes effect on December 1, 2000.
EX-10.1 2 0002.txt AMENDMENT NO. 3 - ADVISORY AGREEMENT EXHIBIT 10.1 AMENDMENT NO. 3 TO ADVISORY AGREEMENT WHEREAS, DEMETER MANAGEMENT CORPORATION, a Delaware corporation (the "General Partner"), on behalf of COLUMBIA FUTURES FUND, a New York limited partnership (the "Partnership"), and JOHN W. HENRY & COMPANY, INC., a Florida corporation (the "Trading Advisor"), have agreed to amend the Advisory Agreement, dated as of January 20, 1987, as amended by Amendment No. 1 to Advisory Agreement, dated as of September 1, 1997, and as further amended by Amendment No. 2 to Advisory Agreement, dated as of February 1, 1998 (collectively, the "Advisory Agreement"), among the Partnership, the General Partner, and the Trading Advisor, to change the management fee and the incentive fee payable to the Trading Advisor. WHEREAS, all provisions contained in the Advisory Agreement remain in full force and effect and are modified only to the extent necessary to provide for the amendment set forth below. NOW, THEREFORE, the parties hereto hereby amend the Advisory Agreement as follows: 1. The monthly management fee rate of 1/12 of 4% referred to in Section 4(a)(i) of the Advisory Agreement is hereby changed to 1/12 of 2%. 2. The quarterly incentive fee percentage of 15% referred to in the first paragraph of Section 4(a)(iii) of the Advisory Agreement is hereby changed to 20%. 3. The foregoing changes shall take effect as of December 1, 2000. IN WITNESS WHEREOF, this Amendment to the Advisory Agreement has been executed for and on behalf of the undersigned as of the 30th day of November, 2000. COLUMBIA FUTURES FUND By: Demeter Management Corporation, General Partner By: /s/ Robert E. Murray --------------------------------------- Name: Robert E. Murray Title: President DEMETER MANAGEMENT CORPORATION By: /s/ Robert E. Murray --------------------------------------- Name: Robert E. Murray Title: President JOHN W. HENRY & COMPANY, INC By: /s/ D.M. Kozak ----------------------------------------- Name: David M. Kozak Title: Sr. Vice President