Advisory Agreement Assumption Letter between Preferred Investment Solutions Corp. and John W. Henry & Company, Inc.
This letter agreement notifies John W. Henry & Company, Inc. that Preferred Investment Solutions Corp. (formerly Kenmar Advisory Corp.) has acquired all shares of Prudential Securities Futures Management Inc. and Seaport Futures Management, Inc., and will assume all obligations and liabilities under existing advisory agreements for PB Diversified Futures Fund LP, Diversified Futures Trust II, and PB International Futures Fund B. Preferred Investment Solutions Corp. will continue to operate under the terms of the current agreements. The agreement is effective as of October 1, 2004, upon acceptance by John W. Henry & Company, Inc.
Exhibit 10.12
![]() | Two American Lane P.O. Box 5150 Greenwich, Connecticut 06831-8150 | Tel  ###-###-#### Fax  ###-###-#### | ||
Joseph J. Allessie Senior Vice President General Counsel |
September 14, 2004
John W. Henry & Company, Inc
Attn: General Counsel/Secretary
301 Yamato Road, Suite 2200
Boca Raton, FL
Re: Advisory Agreements for PB Diversified Futures Fund LP, Diversified Futures Trust II, PB International Futures Fund B
Please be advised that it is anticipated that as of October 1, 2004, all the issued and outstanding shares of capital stock of Prudential Securities Futures Management Inc. and Seaport Futures Management, Inc., (together the Prudential Managing Owners) of the above stated Trusts/Fund are owned by Preferred Investment Solutions Corp. f/k/a Kenmar Advisory Corp. (the Kenmar Managing Owner). Therefore, with respect to the various advisory agreements currently in effect by and between the Trusts/Fund, the Prudential Managing Owner and you, please be notified that the Kenmar Managing Owner has assumed the liabilities and obligations of the Prudential Managing Owner thereunder and will continue to satisfy and perform all liabilities and obligations thereunder.
The Kenmar Managing Owner will continue to operate per the existing advisory agreements. If this is acceptable, please sign both copies of this Letter Agreement and return one copy.
PREFERRED INVESTMENT SOLUTIONS CORP. | ||
By: | /s/ Joseph J. Allessie | |
Name: | Joseph J. Allessie | |
Title: | Senior Vice President, General Counsel | |
ACCEPTED AND AGREED TO: | ||
JOHN W. HENRY & COMPANY, INC | ||
By: | /s/ David M. Kozak | |
Name: | David M. Kozak | |
Title: | Senior Vice President | |
General Counsel, Secretary |