Amendment No. 1 to Management Agreement among Morgan Stanley Charter Aspect L.P., Demeter Management Corporation, and Aspect Capital Limited

Summary

Morgan Stanley Charter Aspect L.P., Demeter Management Corporation, and Aspect Capital Limited have agreed to amend their existing Management Agreement. This amendment, effective December 1, 2006, replaces Exhibit B of the original agreement, updating the list of futures interests traded under the Aspect Diversified Program. All other terms of the Management Agreement remain unchanged. The amendment confirms that each party is authorized to enter into this change and that the agreement remains legally binding.

EX-10.01(A) 2 ms6414857-ex10_01a.txt AMENDMENT NO. 1 TO MANAGEMENT AGREEMENT Exhibit 10.01(a) AMENDMENT NO. 1 TO MANAGEMENT AGREEMENT WHEREAS, MORGAN STANLEY CHARTER ASPECT L.P., a Delaware limited partnership (the "Partnership"), DEMETER MANAGEMENT CORPORATION, a Delaware corporation (the "General Partner"), and ASPECT CAPITAL LIMITED, a limited liability company registered in England and Wales (the "Trading Advisor"), have agreed to amend the Management Agreement, by and among the Partnership, the General Partner, and the Trading Advisor, dated as of October 16, 2006 (the "Management Agreement") to amend Exhibit B of the Management Agreement. Terms used and not otherwise defined herein have the meanings ascribed to such terms in the Management Agreement. WHEREAS, all provisions contained in the Management Agreement remain in full force and effect and are modified only to the extent necessary to provide for the amendments set forth below; NOW, THEREFORE, the parties hereto hereby amend the Management Agreement as follows: 1. Exhibit B to the Management Agreement is hereby deleted in its entirety and replaced with Exhibit B attached hereto. 2. The foregoing amendment shall take effect as of the 1st day of December 2006. 3. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute the same agreement. 4. This Amendment No. 1 shall be governed and construed in accordance with the laws of the State of New York. 5. Each party represents and warrants, with respect to itself only, that it has taken all action required to be taken in order to authorize and effect this Amendment No. 1. This Amendment No. 1 constitutes a legal, valid and binding and enforceable obligation of the respective parties. 6. Save as herein provided, the parties agree that the Management Agreement shall continue in full force and effect. IN WITNESS WHEREOF, this Amendment No. 1 to the Management Agreement has been executed for and on behalf of the undersigned as of the 20th day of December 2006. MORGAN STANLEY CHARTER ASPECT L.P. By: Demeter Management Corporation, General Partner By: /s/ Walter Davis ------------------------------------ Name: Walter Davis Title: President DEMETER MANAGEMENT CORPORATION By: /s/ Walter Davis ------------------------------------ Name: Walter Davis Title: President ASPECT CAPITAL LIMITED By: /s/ Simon Rockall ------------------------------------ Name: Simon Rockall Title: Company Secretary EXHIBIT B Futures Interests Traded The Aspect Diversified Program Agriculturals Canola (WCE) Cattle Feeder (CME) Cocoa (CSCE) Coffee 'C' (CSCE) Corn (CBT) Cotton No. 2 (NYCE) Frozen Orange Juice (FCOJ-1)(NYBOTX) Frozen Pork Bellies (CME) Hard Red Spring (MGE) Wheat Hard Red Winter (KCB) Wheat Lean Hogs (CME) Live Cattle (CME) Lumber (Random (CME) Length) No. 7 Cocoa (LFE) Oats (CBT) Robusta Coffee (LIF) Soy Bean Oil (CBT) Soya Beans (CBT) Soybean Meal (CBT) Sugar (CSCE) Wheat (CBT) White Sugar (LIF) Energies Brent Crude Oil (IPE) Crude Oil (OTC) Crude Oil (NYMEX) Gas Oil (IPE) Gasoline (TOCOM) Heating Oil (NYMEX) Kerosene (TOCOM) Natural Gas (NYMEX) Unleaded Gas (NYMEX) Metals Aluminum (High (LME) Grade) Copper (High Grade) (COMEX) Copper (LME) Gold (100 Oz) (COMEX) Gold (TOCOM) Lead (High Grade) (LME) Nickel (High Grade) (LME) Palladium (NYMEX) Palladium (TOCOM) Platinum (NYMEX) Platinum (TOCOM) Silver (NYMEX) Zinc (High Grade) (LME) Bonds Australian 10 Year (SFE) Government Bond Australian 3 Year (SFE) Government Bond British Long Gilt (LIF) Canadian 10 Year (ME) Government Bond Euro Bobl (EUREX) Euro Bund (EUREX) Euro Schatz (EUREX) Five Year Euro (LIF) Swapnote Japanese 10 Year (TSE) Government Bond Japanese 10 Year (SIMEX) Government Bond Mini Swiss Federation (EUREX) Long Term Bond Ten Year Euro (LIF) Swapnote Two Year Euro (LIF) Swapnote US 10 Year Agency (CBT) Note US 10 Year (CBT) Treasury Note US 2 Year Treasury (CBT) Note US 30 Year (CBT) Treasury Bond US 5 Year Treasury (CBT) Note Interest Rates 30 Day Interbank (SFE) Cash Rate 90 Day Sterling (LIF) Libor Australian 90 Day (SFE) Bank Bills Canadian Bankers (ME) Acceptance Euribor (LIF) Eurodollar (CME) Euroswiss (LIF) Euroyen (3 Month) (TIF) New Zealand 90 Day (SFE) Bank Bills US 30 Day Federal (CBT) Funds Currencies Australian Dollar British Sterling Canadian Dollar Czech Koruna Danish Krone Euro Hungarian Forint Japanese Yen Mexican Peso New Zealand Dollar Norwegian Krone Polish Zloty Singapore Dollar South African Rand Swedish Krona Swiss Franc Thai Baht US Dollar Stock Indices Amsterdam (EURONEXT) Exchanges Index Australian SPI-200 (SFE) Index Canadian S&P/TSE (ME) 60 Index DJ Euro Stoxx 50 (EUREX) Dow Jones (CBT) Industrial Average Dow Jones (CBT) Industrial Average E-Mini French CAC 40 Index (MATIF) FTSE 100 Index (LIF) German DAX Index (EUREX) Hang Seng China (HKFE) Enterprises (H-Shares) Index Hong Kong Hang (HKFE) Seng Index Italian MIB/S&P 40 (MIL) Index Italian MIB/S&P 40 (MIL) Index Mini Japanese NIKKEI (SIMEX) Index Japanese NIKKEI (CME) Index (Yen-Denominated) Japanese TOPIX (TSE) Index MSCI Pan Euro Index (LIF) MSCI Singapore (SGX) Index NASDAQ 100 (CME) NASDAQ 100 E-Mini (CME) OMX Stock Index (SOM) Standardized Futures Contract Russell 1000 E-Mini (CME) Russell 2000 Index (CME) E-Mini S&P 500 (CME) S&P 500 E-Mini (CME) S&P Midcap 400 (CME) Index E-Mini South African (SAF) FTSE/JSE Top 40 Index Spanish IBEX 35 (MEFFRV) Index Taiwanese MSCI (SIMEX) Index