Management Agreement Renewal Letter between Citigroup Managed Futures LLC and John W. Henry & Company, Inc. (June 30, 2006)

Summary

Citigroup Managed Futures LLC and John W. Henry & Company, Inc. have agreed to extend the term of their existing management agreements for various commodity pools until June 30, 2007. All other terms and conditions of the original agreements remain unchanged. The renewal is confirmed by both parties signing this letter. This extension affects multiple named funds managed under the agreements.

EX-10.14 2 file2.htm MANAGEMENT AGREEEMENT RENEWALS

June 30, 2006

John W. Henry & Company, Inc.
301 Yamato Road, Suite 2200
Boca Raton, Fl. 33431-4931

Attn: Mr. Ken Webster

Re:    Management Agreement Renewals

Dear Mr. Webster:

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, 2007 and all other provisions of the Management Agreements will remain unchanged.

•  Shearson Mid-West Futures Fund
•  Shearson Lehman Select Advisors Futures Fund L.P.
•  Smith Barney Mid-West Futures Fund L.P. II
•  Smith Barney Westport Futures Fund L.P.
•  Hutton Investors Futures Fund, L.P. II (HIFF II)
•  AURORA 2001
•  AURORA III
•  Salomon Smith Barney Diversified 2000 Futures Fund L.P.
•  Citibank NA (Alera 100)
•  JWH Strategic Allocation Master Fund LLC
•  Citigroup Diversified Futures Fund
•  CMF Institutional Futures Portfolio L.P.



Page 2

June 30, 2006

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Daniel McAuliffe 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/ Daniel R. McAuliffe, Jr.
Daniel R. McAuliffe, Jr.
Chief Financial Officer & Director
JOHN W. HENRY & COMPANY, INC.
By: /s/ Ken Webster
Print Name:   Ken Webster

DRMcA/sr