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Disclosure:

 Performance Pledge – For MDRN Capital, LLC (“MDRN Capital”) client accounts that meet all the criteria as described below (”Applicable Accounts”), MDRN Capital will pause the billing of clients Applicable Accounts if all conditions are met as listed below:

• • • MDRN Capital is the sole registered investment advisor to the Applicable Account and MDRN Capital has discretionary authority as defined in section 1 of MDRN Capital’s wealth management agreement.
    • All assets in the Applicable Accounts are invested in Potomac Bull and/or Bear Series Portfolio utilized by MDRN Capital.
    • The Applicable Account does not hold any securities that were not purchased or recommended by MDRN Capital.
    • The Applicable Account has two consecutive calendar quarters of negative performance.
      • Negative performance is defined as the loss in value of the Applicable Account within the respective calendar quarter.

Applicable Accounts that meet the criteria and conditions of the Performance Pledge, as described above, will not be charged an advisory fee starting on the following calendar quarter after the two calendar quarters of negative performance is achieved. Once the Applicable Account achieves positive performance in a calendar quarter, MDRN Capital will reinstate the agreed upon advisory fee effective in the following calendar quarter. The Performance Pledge cycle remains in effect until the termination of your wealth management agreement with MDRN Capital or until the client opts out via written notice to MDRN Capital. Performance reviews will be performed on Applicable Accounts at the end of each calendar quarter. If at any point, a condition, as described above, is not met, the account[s] will no longer be deemed an Applicable Accounts and will not be subject to the Performance Pledge.