Legal

Mandatory Disclaimer & User Acceptance

Please review and accept the following disclosures before using Eshel Bot

Last updated: January 2025

1

Purpose

This Mandatory Disclaimer & User Acceptance Form ensures that clients of Eshel Spring LLC ("we," "our," or "us"), using the Eshel Bot AI-powered discretionary investment platform, acknowledge, accept, and understand the terms, risks, and disclosures associated with discretionary advisory services.

This form is supplemental to the Client Advisory Agreement and Form ADV Part 2A (Firm Brochure) and does not replace them. In the event of any conflict, the Client Advisory Agreement governs trade execution and services.

2

Client Acknowledgments

By signing or electronically accepting this form, you confirm and agree to the following:

2.1 Discretionary Advisory Authority

  • I understand that Eshel Bot is a discretionary investment adviser and may execute trades in my account without prior approval for each transaction.
  • I acknowledge that discretionary authority is granted under the Client Advisory Agreement and Form ADV Part 2A, and that this form is supplemental only.

2.2 Subscription & Third-Party Broker Fees

I acknowledge that I am responsible for:

  • Subscription fees for Eshel Bot services, billed monthly in advance
  • Broker fees, including Alpaca API transaction fees, commissions, margin interest, exchange and regulatory fees
  • Eshel Spring LLC does not collect, control, or offset these fees

2.3 Options Trading Authorization

  • I confirm my account is approved for options trading
  • I have received and reviewed the Options Disclosure Document (ODD)
  • I authorize Eshel Bot to execute options trades on my behalf
  • No options trades will occur without my explicit consent

2.4 Risk Disclosures

I understand and accept that:

  • Trading involves risk of loss, including total principal
  • Automated, discretionary trading may amplify losses in volatile markets
  • AI-powered algorithms rely on historical and real-time data, which may not perform as expected
  • Past performance or hypothetical outputs do not guarantee future results

2.5 Conflicts of Interest

I acknowledge that conflicts of interest may exist, as disclosed in Form ADV Part 2A, including:

  • Potential incentives for trading frequency or strategy selection
  • Limitations imposed by broker integrations
  • Subscription fees that do not vary based on investment performance

2.6 Non-Reliance on AI Outputs or Hypothetical Performance

  • I understand that AI-generated trade suggestions, automated decisions, and hypothetical performance metrics are for informational purposes only
  • I will not rely solely on AI outputs for investment decisions
  • I acknowledge that discretionary trades may occur without further approval or review

2.7 Suitability and Appropriateness

  • I confirm that the services offered by Eshel Bot are suitable and appropriate for my investment objectives, financial situation, and risk tolerance
  • I acknowledge that I am responsible for ensuring that my account type and settings are compatible with discretionary trading
3

Legal Status, Governing Law, and Enforceability

  • This form is supplemental and subordinate to the Client Advisory Agreement and Form ADV Part 2A
  • The provisions of this form are governed by the laws of the Commonwealth of Massachusetts, without regard to conflict-of-law principles
  • If any provision of this form is deemed invalid or unenforceable, the remainder shall remain in full force and effect
4

Electronic Acceptance & Audit Trail

  • By electronically accepting this form, I confirm that I have read, understood, and agreed to all disclosures

Acceptance will be recorded with:

  • Timestamp
  • IP address
  • Device identifier

This record is retained for regulatory, audit, and compliance purposes.

5

Contact Information for Questions

For questions regarding this form or the discretionary advisory services of Eshel Spring LLC, please contact:

Eshel Spring LLC

100 Summit Drive, Burlington, MA 01803

Email: info@eshelbot.com

Phone: (781) 518-8660

Website: www.eshelbot.com

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