You start Mark IV with the '''context''' command, and Mark II with '''texexec'''. The two programs are not the same, and even though they have mostly the same command line, there are some differences. Mostly, this is because '''context''' is still lacking a number of options of texexec like for example --passon (those will probably be implemented at some point in the future), but it also parses the command line different. You must remember to always give the full name of the options, and then the effects should be almost unnoticeable.
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