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<h3>Terms of Use/Important Disclosure Information</h3>
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<p><em>InvesTech Research</em>&nbsp;is a newsletter publication (“<em>Newsletter</em>”) owned and published by InvesTech Research (“<em>Publisher</em>”). The Publisher is not registered as an investment adviser with any federal or state regulatory agency. Rather,&nbsp;<em>Publisher</em>&nbsp;relies upon the “publisher’s exclusion” from the definition of “investment adviser” as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. The&nbsp;<em>Newsletter</em>&nbsp;is a bona fide publication of general and regular circulation offering impersonalized investment-related advice to subscribers and/or prospective subscribers (e.g., not tailored to the specific investment portfolio or needs of current and/or prospective subscribers).</p>
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<p>The&nbsp;<em>Newsletter</em>&nbsp;is limited to the dissemination of impersonal and objective investment-related information. No portion of any of the&nbsp;<em>Newsletter</em>&nbsp;content, including content published on the InvesTech Research&nbsp;<em>Website</em>, should be construed as&nbsp;<em>Publisher’s</em>&nbsp;provision of any investment related advice or services tailored to any particular individual’s financial situation or investment objective(s).</p>
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<p>Subscribers do not receive investment advisory, investment supervisory, or investment management services, nor the initial or ongoing review or monitoring of the subscriber’s individual investment portfolio or individual particular needs. Therefore, no subscriber should assume that the subscription serves as a substitute for individual personalized advice from an investment professional of the subscriber’s choosing. Rather, the&nbsp;<em>Newsletter</em>&nbsp;is designed solely to provide subscribers with a method to evaluate certain investment-related information and model portfolios.</p>
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<p>The subscriber maintains absolute discretion as to whether or not to follow any portion of the&nbsp;<em>Newsletter</em>&nbsp;or&nbsp;<em>Website</em>&nbsp;content.&nbsp;<em>Publisher</em>&nbsp;does not offer or provide investment implementation services, nor does it offer or provide initial or ongoing individual personalized advice. It remains the subscriber’s exclusive responsibility to review and evaluate the content and to determine whether to accept or reject any recommendation and to correspondingly determine whether any such recommendation or model portfolio is appropriate for a subscriber’s investment portfolio or objective (of which&nbsp;<em>Publisher</em>&nbsp;has and expresses no knowledge or opinion).&nbsp;<em>Publisher</em>&nbsp;expresses no opinion as to whether any recommendations contained in the Newsletter are appropriate for a subscriber’s investment portfolio, strategy, financial situation, or investment objective(s).</p>
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<p>The subscriber acknowledges that any past performance referred to in the&nbsp;<em>Newsletter</em>&nbsp;or on the&nbsp;<em>Website</em>&nbsp;relative to any information, recommendation, portfolio, or security may not be indicative of future results, and understands that any opinions contained in the&nbsp;<em>Newsletter</em>&nbsp;or on the&nbsp;<em>Website</em>&nbsp;reflects&nbsp;<em>Publisher’s</em>&nbsp;judgment exclusively as of that particular date. Therefore, no current or prospective subscriber should assume that the future performance of any specific investment, investment strategy, or non-investment-related content will be suitable or profitable for a subscriber’s portfolio, equal historical or anticipated performance level(s), or prove to be correct. Please be aware,&nbsp;<em>Newsletter</em>&nbsp;or&nbsp;<em>Website</em>&nbsp;content could prove to be incorrect. All subscribers must be guided accordingly. Certain portions of the&nbsp;<em>Website</em>&nbsp;(i.e., past newsletters, articles, etc.) may contain a discussion of, and/or provide access to, commentary and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s), and no subscriber should rely thereon.</p>
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<p>User is prohibited from sharing the&nbsp;<em>Newsletter</em>&nbsp;or providing access to the&nbsp;<em>Website</em>&nbsp;to any other person or entity, and agrees not to do so in any manner whatsoever. In the event that subscriber violates such prohibition, subscriber shall hold the&nbsp;<em>Publisher</em>&nbsp;(including its officers, directors, members, employees, and agents) harmless from any and all adverse consequences resulting from subscriber’s decision to share the&nbsp;<em>Newsletter</em>&nbsp;or provide access to the&nbsp;<em>Website</em>, including, but not limited to, any and all adverse financial consequences alleged and/or suffered by any such person or entity who was provided the&nbsp;<em>Newsletter</em>&nbsp;or gained access to the&nbsp;<em>Website</em>&nbsp;as a result of subscriber’s violation.</p>
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<p><em>Publisher</em>&nbsp;can terminate subscriber’s&nbsp;<em>Newsletter</em>&nbsp;subscription and access to the&nbsp;<em>Website</em>&nbsp;at any time and for any reason, without recourse by the subscriber.</p>
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<p><strong>PLEASE NOTE:</strong>&nbsp;Past&nbsp;performance may not be indicative of future results, and you can lose money. &nbsp;Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product, including the&nbsp;<em>Newsletter</em>&nbsp;content,&nbsp;will be profitable, equal any historical performance level(s), be suitable for any specific subscriber’s portfolio or individual situation, or prove successful. The&nbsp;<em>Publisher’s</em>&nbsp;obligation is expressly limited to providing the subscriber the&nbsp;<em>Newsletter</em>&nbsp;and access to the&nbsp;<em>Website</em>&nbsp;for the subscriber’s review and consideration. The&nbsp;<em>Publisher</em>&nbsp;has absolutely no responsibility for any determination as to the suitability of any of the&nbsp;<em>Newsletter</em>&nbsp;or&nbsp;<em>Website</em>&nbsp;content for the subscriber, such determination being the initial and ongoing exclusive responsibility of the subscriber.</p>
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<p><strong><u>Release and Hold Harmless Agreement:</u></strong>&nbsp;As indicated above, different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product, or any investment or non-investment related recommendation or discussion&nbsp;will be profitable, equal any historical performance level(s), be suitable for any specific subscriber’s portfolio or individual situation, or prove successful. &nbsp;The subscriber retains all decision making authority as to whether or not to follow and/or implement any of the&nbsp;<em>Newsletter</em>&nbsp;or&nbsp;<em>Website</em>&nbsp;content. Subscriber on behalf of himself/herself, and each of his/her dependents, including, but not limited to, subscriber’s spouse and/or children agrees to defend, indemnify, and hold the&nbsp;<em>Publisher</em>&nbsp;(including its officers, directors, members, employees, and agents) harmless from any and all adverse consequences resulting from subscriber’s&nbsp;<em>Newsletter</em>&nbsp;or access to the&nbsp;<em>Website</em>, including, but not limited to, any and all monetary losses.</p>
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