Exhibit 10.23
AMENDMENT NO. 1
TO
SERVICES AGREEMENT
This AMENDMENT NO. 1 (the “
Amendment ”), dated as of January 1, 2009, to the
Services Agreement (the “ Original Agreemen t”)
dated as of May 23, 2007, by and between SPECTRUM GLOBAL FUND
ADMINISTRATION, L.L.C., a Delaware limited liability company
(“ Company ”), on the one hand, and FUTURES
STRATEGIC TRUST, a Delaware statutory trust (the
“Client” ), on the other hand.
W I T N E S S E T
H :
WHEREAS, the Company and the Client entered into the
Original Agreement; and
WHEREAS, the Company and the Client desire to amend the
Original Agreement.
NOW, THEREFORE,
the parties hereto do hereby agree
as follows:
1. Amendment to the Original
Agreement. The Company agrees that it shall not increase
the Administrative Services Fee described in Section 3.1 of
the Original Agreement and on Exhibit B to the Original Agreement
at any time prior to December 31, 2009.
2. Remainder of Original
Agreement. Except as provided in Section 1 hereof, the
Original Agreement remains unchanged and in full force and effect,
and each reference to the Original Agreement and words of similar
import in the Agreement, as amended hereby, shall be a reference to
the Original Agreement as amended hereby and as the same may be
further amended, supplemented and otherwise modified and in effect
from time to time.
3.
Miscellaneous.
(a) Capitalized Terms .
Capitalized terms used but not defined herein shall have the
meaning ascribed to them in the Original Agreement.
(b) Entire Agreement . This
Amendment No. 1 constitutes the entire agreement and
understandi
