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.
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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
