MDRN Capital LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one or more
written agreements with the Advisor.

                                                      MDRN Capital, LLC
                                 1997 Annapolis Exchange Parkway, Suite 300, Annapolis, MD 21401
                                          Phone: 410-533-9966 | www.MDRNcapital.com

A. Fees for Advisory Services
Wealth Management Services
Wealth management fees are paid monthly in arrears pursuant to the terms of the wealth management agreement.
Wealth management fees are based on the market value of assets under management at the end of the month. Wealth
management fees are based on the following schedule:

                             Assets Under Management ($)                Annual Rate (%)
                             Up to $1,000,000                           1.50%
                             $1,000,001 to $2,500,000                   1.25%
                             $2,500,001 to $5,000,000                   1.00%
                             $5,000,001 to $10,000,000                  0.75%
                             $10,000,001 to $20,000,000                 0.50%
                             $20,000,001 and over                       Negotiable

The wealth management fee in the first month of service is prorated from the inception date of the account[s] to the end
of the first month. Fees may be negotiable at the sole discretion of the Advisor. Certain Clients may be grandfathered a
rate from previous relationships with the Advisor. The Client’s fees will take into consideration the aggregate assets
under management with the Advisor. All securities held in accounts managed by MDRN Capital will be independently
valued by the Custodian. The Advisor will conduct periodic reviews of the Custodian’s valuation to ensure accurate
billing.

The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and other
related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the Advisor
shall not receive any portion of these commissions, fees, and costs.

Use of Independent Managers
As noted in Item 4, the Advisor may implement all or a portion of a Client’s investment portfolio utilizing one or more
Independent Managers. To eliminate any conflict of interest, the Advisor does not earn any compensation from an
Independent Manager. The Advisor will only earn its investment advisory fee as described above. The Advisor will
allocate a portion of the advisory fee collected to the Independent Manager pursuant to the terms of the executed
agreement between the Advisor and the Independent Manager. The total blended fee, including the Advisor’s fee
and the Independent Manager’s fee, will not exceed 2.00% annually.

Financial Planning Services
MDRN Capital offers financial planning services for a fixed engagement fee ranging from $500 to $10,000 per
engagement. Fees may be negotiable based on the nature and complexity of the services to be provided and the overall
relationship with the Advisor. An estimate for total costs will be determined prior to engaging for these services.

Retirement Plan Advisory Services Fees
Fees for retirement plan advisory services are charged an annual asset-based fee ranging between 0.5% to 1.5%, billed
in arrears, pursuant to the terms of the agreement. Retirement plan fees are based on the market value of assets under
management at the end of the prior calendar month. Fees may be negotiable depending on the size and complexity of
the Plan.

B. Fee Billing
Wealth Management Services
Wealth management fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at the
Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted from
the Client’s account[s] at the beginning of the respective month. The amount due is calculated by applying the monthly
rate (annual rate divided by 12) to the total assets under management with MDRN Capital at the end of the month.
Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the wealth
management fee. Clients are urged to also review and compare the statement provided by the Advisor to the brokerage
statement from the Custodian, as the Custodian does not perform a verification of fees. Clients provide written

                                                    MDRN Capital, LLC
                               1997 Annapolis Exchange Parkway, Suite 300, Annapolis, MD 21401
                                        Phone: 410-533-9966 | www.MDRNcapital.com

authorization permitting advisory fees to be deducted by MDRN Capital to be paid directly from their account[s] held by
the Custodian as part of the wealth management agreement and separate account forms provided by the Custodian.

Use of Independent Managers
For Client accounts implemented through an Independent Manager, the Client’s overall fees will include MDRN
Capital’s investment advisory fee (as noted above) plus investment management fees and/or platform fees charged
by the Independent Manager. The Independent Manager will assume the responsibility for calculating the Client’s
fees and deducting all fees from the Client’s account[s].

Financial Planning Services
Financial planning fees are invoiced by the Advisor and are due upon completion of the agreed upon deliverable[s].

Retirement Plan Advisory Services Fees
Retirement plan advisory fees may be directly invoiced to the Plan Sponsor or deducted from the assets of the Plan,
depending on the terms of the retirement plan advisory agreement.

C. Other Fees and Expenses
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Item 7 – Types of Clients

MDRN Capital offers wealth management services to individuals, high net worth individuals, trusts, estates,
businesses, and retirement plans. MDRN Capital generally does not impose a minimum relationship size.