Margin Agreement

A margin account involves an extension of credit to you in connection with your trading account. This Margin Agreement enables securities and other assets in your account to be pledged to finance the funds that are loaned to you by Mondeum Capital (UK) Limited.

This Margin Agreement is part of the Client Agreement (“Agreement”) between you and Mondeum Capital (UK) Limited. In consideration of the acceptance of your account under this Margin Agreement, you agree to the following terms and provisions. It is agreed that you may purchase, carry, and trade certain securities on margin. When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from Mondeum Capital (UK) Limited by the use of your margin account. If you choose to borrow funds from Mondeum Capital (UK) Limited. The securities purchased, as well as the other assets in your account, are Mondeum Capital (UK) Limited collateral for the loan to you.

1. Payment for transactions
   You agree that you are responsible for paying for all transactions you make and all authorized transactions in your account. When you purchase securities on margin, you agree to deposit the required initial equity by the settlement date and to maintain your equity at the required levels. In addition, you agree to pay any debit remaining in your account if your positions are liquidated to satisfy a margin call. We may extend credit to you according to applicable laws and regulations. You agree to use this credit primarily for business and investment purposes.
   
   
2. Maintenance of collateral
   You agree to maintain in your Account collateral of the type and not less than the amount required by Applicable Exchange rules and regulations; or this agreement, whichever is greater.
   
   
3. Maintenance of margin
   You agree to maintain such positions and margin as required by this agreement, rules and regulations, and any additional requirements as may be deemed necessary by Mondeum Capital (UK) Limited which additional requirements may be more stringent than those required by law or exchange regulations. Such laws, rules, regulations, and additional requirements may be changed or modified without prior notice to you. If the securities held in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, Mondeum Capital (UK) Limited can take any action it deems necessary, such as issue a margin call and/or sell securities in any of your accounts held with Mondeum Capital (UK) Limited in order to maintain the required equity in the account. You acknowledge that there is no requirement of Mondeum Capital (UK) Limited to provide notice to you of a margin deficiency. It is important that you fully understand the risks involved in trading securities on margin and that you promptly satisfy all margin and maintenance calls. If you do not meet a margin call, Mondeum Capital (UK) Limited may liquidate securities in the account and apply cash from the account to the extent necessary to satisfy the call.
   
   
4. Liquidation
   Whenever it is necessary for our protection or to satisfy a margin call, deficiency, debit, or other obligation owed us, we may sell all or any part of the securities securing your obligations, or close any or all transactions in your Account. You acknowledge that securities held in your account may be liquidated without notice to satisfy minimum maintenance, margin calls or any other obligation. Mondeum Capital (UK) Limited will attempt to contact you, when practicable, before taking any action described in this section. However, we reserve the right to take any such action without prior notice. Any prior demand, call, or notice will not be considered a waiver of our right to sell or buy without demand, call, or notice. We may choose which securities to buy or sell, which transactions to close, and the sequence and timing of liquidation. You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold by Mondeum Capital (UK) Limited to meet a margin call. We may take such actions on whatever exchange or market and in whatever manner we choose in the exercise of our business judgment. You agree not to hold us liable for the choice of which securities to buy or sell, or of which transactions to close, or for the timing or manner of the liquidation. If we determine that your obligations are not adequately secured or to satisfy a margin deficiency or other obligation, you agree to pay on demand any account deficiencies after liquidation, whether liquidation is complete or partial. Without limitation, any of the following circumstances may give rise for Mondeum Capital (UK) Limited to exercise this power: (i) your failure to promptly meet any call for additional collateral; (ii) the filing of a petition in bankruptcy by or against you; (iii) the appointment of a receiver filed by or against you; (iv) entry of a significant judgment against you, or any levy on your account(s); and (v) the occurrence of any event which, in Mondeum Capital (UK) Limited judgment, operates to impair your ability to perform your obligations under this Margin Agreement. You authorize Mondeum Capital (UK) Limited to, in any such event, and without further notice, to (i) sell any securities held in your account(s); (ii) buy or otherwise cover any securities which may be short; (iii) cancel any open order; (iv) close any outstanding order; and (v) otherwise take any action we deem necessary to comply with applicable statutes, rules and regulations or any other requirements governing your margin account. If for any reason, Mondeum Capital (UK) Limited delays to promptly enforce its margin requirements, a subsequent enforcement or right to enforce is not waived and Mondeum Capital (UK) Limited will not be responsible for any losses or costs that you incur that would have been avoided by more prompt action by Mondeum Capital (UK) Limited.
   
   
5. Short sales
   You agree to designate a sell order as a short sale if, at the time you place the order, you either do not own the security being sold or are unable to deliver the security in a timely manner. You agree that short sale transactions are subject to certain regulatory rules and cannot be executed under certain market conditions. In addition, depending on market conditions, Mondeum Capital (UK) Limited cannot guarantee that it will have shares available to facilitate a short sale. You agree that we may, at our discretion and without notice, “buy in” securities to cover any short security position in your account at your expense. We may take this action either on a regular settlement, cash, or next-day settlement basis. If you are unable to cover a short security position (either through delivery of the security or through our “buying-in” the security) in enough time so we can deliver the security to its lender (to whom we’re obligated), you agree to reimburse us for the losses we sustain as a result of your failure to deliver the security. You shall pay interest on credit extended by Mondeum Capital (UK) Limited under this Margin Agreement for the purpose of purchasing, carrying, or trading securities. Short Position Interest will be charged on your average daily net settled debit balance and calculated using Mondeum Capital (UK) Limited’s interest rate schedule. On-demand, you shall pay any balance owing with respect to your accounts, including fees and any costs of collection. All payments received in your account, including dividends, interest, premiums, and principal payments may be applied to the balance due in your account. The rate of interest charged for the credit extended to you shall be calculated on a 360-day year and actual days elapsed. The interest rate will vary from time to time without prior notice, based on our judgment in light of shifts in money rates, industry conditions relating to the extension of margin credit, and the general credit markets.
   
   
6. Overnight positions
   Please note that in accordance with our clearing firm policies a short position held overnight by a client shall not exceed 10% of the account’s total value. Mondeum Capital (UK) Limited therefore reserves the right to monitor and assess the overnight short positions to ensure compliance with set limits; • Limits are set at the discretion of the clearing firm and may vary based on market conditions and stock volatility. In the event that a client’s overnight short position exceeds the stipulated limit, rights are reserved to initiate immediate liquidation of the excess position(s) without prior notice to the client; You are responsible for ensuring that your overnight short positions comply with set limits and Mondeum Capital (UK) Limited shall not be held liable for any losses incurred due to liquidation;
   
   
7. Stock locates
   Mondeum Capital (UK) Limited grants you the ability to locate “Hard to Borrow” securities. Your acceptance of a locate for a short sale order does not guarantee that the shares will be delivered to the Clearing Firms for settlement of your short sale transaction. Mondeum Capital (UK) Limited at its sole discretion, may elect to buy in some or all of the shares necessary to cover your short position at any time, including on the trade date in which your short position was established, and at any time or date thereafter. By entering into a short position, you agree that you take on full financial and market risk, including the risk that you may incur losses as a result of Mondeum Capital (UK) Limited buying in to cover your short position. You acknowledge that you may incur significant fees by locating and selling securities short in your account. Once a locate request is accepted you will be charged a locate fee. This fee is charged even if an order is not entered to sell short the located security.
   
   
8. Stock loan charges – Variable based on Usage
   A stock loan fee, or borrow fee, is a fee charged by Mondeum Capital (UK) Limited to a client for borrowing shares. The more difficult it is to borrow the stock or the more limited the inventory, the higher the fee. Stock loan fees are assessed for overnight positions and are separate from stock locate charges (intraday) and overnight margin interest. Mondeum Capital (UK) Limited customers should carefully consider the risk/reward ratios of trades in terms of associated fees before implementing a short sale strategy.
   
   
9. Amendment
   On prior or successive notice to you, we may modify or rescind existing provisions or add new provisions to the Margin Agreement. By not closing and/or by continuing to use your Account, you confirm your agreement to abide by the Margin Agreement, as amended from time to time. Amendments will not affect rights or obligations either of you or Mondeum Capital (UK) Limited incurs before the effective date of the amendment. No prior conduct, past practice, or oral statement by any Mondeum Capital (UK) Limited representative can amend or modify this written agreement. All transactions in your Margin Account are subject to the Margin Agreement and the Agreement in their entireties and any other disclosures, terms, and agreements relating to Your Account or to particular features or services offered in connection with Your Account, each as amended from time to time.ondeumMondeum Capital (UK) Limited