Management Agreement Renewal Letter between Citigroup Managed Futures LLC and Willowbridge Associates Inc. (June 2009)

Summary

Citigroup Managed Futures LLC and Willowbridge Associates Inc. have agreed to extend the term of their existing management agreements for several commodity pools until June 30, 2010. All other terms and conditions of the original agreements remain unchanged. The renewal applies to multiple funds managed by Willowbridge Associates. Both parties have acknowledged the extension by signing this letter.

EX-10.4.B 2 y02280exv10w4wb.htm EX-10.4.B exv10w4wb

Exhibit 10.4(b)

June 9, 2009

Willowbridge Associates Inc.
101 Morgan Lane — Suite 180
Plainsboro, N.J. 08536

Attention: Mr Steve R. Crane

Re: Management Agreement Renewals

Dear Mr. Crane:

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, 2010 and all other provisions of the Management Agreements will remain unchanged.

	•		Smith Barney Diversified Futures Fund L.P.

	•		Smith Barney Diversified Futures Fund L.P. II

	•		Citigroup Orion Futures Fund L.P.

	•		Citigroup Diversified Futures Fund L.P.

	•		CMF Institutional Futures Portfolio LP

	•		CMF Willowbridge Argo Master Fund L.P.

	•		Citigroup Orion Futures Fund (Cayman) Ltd.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Ms. Jennifer Magro at the address above or fax to ###-###-####. If you have any questions I can be reached at ###-###-####.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC


By:		/s/ Jennifer Magro
		Jennifer Magro
		Chief Financial Officer & Director

WILLOWBRIDGE ASSOCIATES INC.

By:		/s/ Steven R. Crane
		Steven R. Crane
		Print Name: Senior Vice President

JM/sr