RAHEJA QBE GENERAL INSURANCE CO. LTD.

ELECTRONIC EQUIPMENT INSURANCE POLICY

WHEREAS the Insured named in the Schedule hereto has made to RAHEJA QBE GENERAL
INSURANCE COMPANY LIMITED, (hereinafter called ‘Company’) a written proposal by completing
questionnaire, which together with any other statement made in writing by the Insured for the purpose
of this Policy is deemed to be incorporated herein.

NOW THIS POLICY OF INSURANCE WITNESSETH that subject to and/or in consideration of the
Insured having paid to the Company the premium mentioned in the Schedule and subject to the
terms, exclusions, conditions and provisions contained herein or endorsed hereon the Company will
indemnify the Insured in the manner and to the extent hereinafter provided.

This Policy shall apply to the Insured items only after successful completion of their
performance/acceptance test whether they are at work or at rest or being dismantled for the purpose
of cleaning or overhauling or in the course of aforesaid operations themselves or when being shifted
within the premises or during subsequent re-erection.

The liability of the Company for any one item of the Insured property shall not exceed in aggregate in
any one period of Insurance the sum insured set against such items in the attached Schedule(s)
unless the Sum Insured under such item is reinstated after occurrence of a claim for balance period.

GENERAL EXCLUSIONS –

The Company will not indemnify the Insured in respect of loss, damage or liability directly caused by
or arising out of or aggravated by -

1. War, Invasion, Act of foreign Enemy, Hostilities or War Like operations (whether war be
declared or not), Civil War, Rebellion Revolution, Insurrection Mutiny, Civil Commotion,
Confiscation, Commandeering a Group of Malicious persons or persons acting on behalf of or in
connection with any political organisation, requisition or destruction or damage by order of any
government de-jure or de-facto or any public, municipal or local authority.

2. Nuclear Reaction, Nuclear radiation or radioactive contamination.

3. Willful act or willful negligence of the Insured or his representative.

4. Cessation of work whether total or partial.

5. Cost Incurred/time involved in the movement of machinery and/or any other property and/or
personnel outside the territorial limits of India other than the cost of delivery of replacements for
machinery lost or damaged.

6. Derangement of the Insured property not accompanied by damage otherwise covered by this
policy.

7. Loss of or damage to the property covered under this policy falling under the terms of the
Maintenance Agreement.

Raheja QBE General Insurance Company Limited

Windsor House, 5th floor, CST Road, Kalina, Santacruz (East) Mumbai – 400 098
Telephone: +91 22 4231 3888 Facsimile: +91 22 4231 3777
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8. Loss destruction or damage directly occasioned by pressure wave caused by aircraft and other
aerial devices travelling at Sonic or Supersonic speeds.

In any action, suit or other proceedings where the company allege that by reason of the provisions of
the above exclusions any loss, destruction, damage or liability is not covered by this insurance, the
burden of proving that such loss, destruction, damage or liability is covered shall be upon the Insured.

Terrorism Damage Exclusion Warranty:

Notwithstanding any provision to the contrary within this insurance it is agreed that this insurance
excludes loss, damage cost or expense of whatsoever nature directly or indirectly caused by,
resulting from or in connection with any act of terrorism regardless of any other cause or event
contributing concurrently or in any other sequence to the loss.

For the purpose of this endorsement an act of terrorism means an act, including but not limited to the
use of force or violence and / or the threat thereof, of any person or group(s) of persons whether
acting alone or on behalf of or in connection with any organization (s) or government(s), committed
for political, religious, ideological or similar purpose including the intention to influence any
government and/or to put the public, or any section of the public in fear.

The warranty also excludes loss, damage, cost or expenses of whatsoever nature directly or indirectly
caused by, resulting from or in connection with any action taken in controlling, preventing,
suppressing or in any way relating to action taken in respect of any act of terrorism.

If the Company alleges that by reason of this exclusion, any loss, damage, cost or expenses is not
covered by this insurance the burden of proving the contrary shall be upon the insured.

In the event any portion of this endorsement is found to be invalid or unenforceable, the remainder
shall remain in full force and effect.

GENERAL CONDITIONS –

1. The due observance and fulfilment of the terms of this Policy in so far as they relate to anything
to be done or complied with by the Insured and the truth of the statements and answers in the
questionnaire and proposal made by the Insured shall be a condition precedent to any liability of
the Company.

2. The schedule and the section(s) shall be deemed to be incorporated in and form part of this
policy and expression "this policy" wherever used in this contract shall be read as including the
Schedule and the Section(s). Any word or expression to which a specific meaning has been
attached in any part of this Policy or of the Schedule or of the Section(s) shall bear such
meaning wherever it may appear.

3. The Insured shall at his own expense take all reasonable precautions and comply with all
reasonable recommendations of the company to prevent loss, damage or liability and comply
with statutory requirements and manufacturers recommendations.

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 4. a) Representatives of the Company shall at any reasonable time have the right to inspect and
examine the risk and the Insured shall provide the representatives of the company with all
details and information necessary for the assessment of the risk.

b) The Insured shall immediately notify the Company by Telegram and in writing of any material
change in the risk and cause at his own expense such additional precautions to be taken as
circumstances may require to ensure safe operation of the Insured items and the scope of cover
and/or premium shall, if necessary, be adjusted accordingly. No material alteration shall be
made or admitted by the Insured whereby the risk is increased unless the continuance of the
Insurance be confirmed in writing by the Company.

5. DUTIES FOLLOWING AN ACCIDENT-

In the event of any occurrence which might give rise to a claim under this

Policy, the Insured shall-

(a) immediately notify the Company by telephone or telegram as well as in writing giving an
indication as to the nature and extent of loss or damage;

(b) take all steps within his power to minimise the extent of the loss or damage;

(c) preserve the parts affected and make them available for inspection by a representative or
Surveyor of the Company;

(d) furnish all such information and documentary evidence as the Company may require;

(e) inform the police authorities in case of loss or damage due to theft or burglary or any other
criminal act

The Company shall not in any case be liable for loss, damage or liability of which no notice has
been received by the Company within 14 days of its occurrence.

Upon notification being given to the Company under this condition, the Insured may carry out the
repair or replacement of any minor damage not exceeding Rs.5, 000/- provided that the carrying
out of such repairs is without prejudice to any question of liability of the Company and that any
damaged part requiring replacement is kept for inspection by the Company, but in all other cases
a representative shall have the opportunity of inspecting the loss or damage before any repairs
or alterations are effected.

The liability of the Company under this Policy in respect of any item sustaining damage shall
cease if said item is kept in operation after a claim without being repaired to the satisfaction of
the Company or if temporary repairs are carried out without the Company's consent.

6. RECOURSE-

The Insured shall at the expense of the Company do and concur in doing and permit to be done
all such acts and things as may be necessary or required by the Company in the interest of any
rights or remedies, or of obtaining relief or indemnity from parties (other than those insured
under this Policy) to which the Company shall be or would become entitled or subrogated upon

Raheja QBE General Insurance Company Limited

Commerz, 10 Floor, International Business Park, Oberoi Garden City, Western Express Highway, Goregaon(E) Mumbai – 400 063
Telephone: +91 22 4231 3629 Facsimile: +91 22 4231 3777
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 their paying for or making good any loss or damage under this Policy, whether such acts and
things shall be or become necessary or required before or after the Insured's indemnification by
the Company.

7. ARBITRATION-

If any dispute or difference shall arise as to the quantum to be paid under the policy (liability
being otherwise admitted) such difference shall independently of all other questions be referred
to the decision of a sole arbitrator to be appointed in writing by the parties to or if they cannot
agree upon a single arbitrator within 30 days of any party invoking arbitration the same shall be
referred to a panel of three arbitrators, comprising of two arbitrators, one to be appointed by
each of the parties to the dispute/ difference and the third arbitrator to be appointed by such two
arbitrators and arbitration shall be conducted under and in accordance with the provisions of
The Arbitration and Conciliation Act, 1996.

It is clearly agreed and understood that no difference or dispute shall be referable to arbitrations
as herein before provided, if the Company has disputed or not accepted liability under or in
respect of this policy.

It is hereby expressly stipulated and declared that it shall be a condition precedent to any right
of action or suit upon this policy that award by such arbitrator/ arbitrators of the amount of the
loss or damage shall be first obtained.

8. FRAUDULENT CLAIMS-

If a claim is in any respect fraudulent, or if any false declaration is made or used in support
thereof, or if any fraudulent means or devices are used by the Insured or anyone acting on his
behalf to obtain any benefit under this Policy, or if a claim is made and rejected and no action or
suit is commenced within three months after such rejection or, in case of arbitration taking place
as provided therein, within three months after the Arbitrator or Arbitrators have made their
award, all benefit under this Policy shall be forfeited.

9. OTHER INSURANCE-

If at the time any claim arises under this Policy there be any other Insurance covering the same
loss, damage or liability the Company shall not be liable to pay or contribute more than their
ratable proportion of any claim for such loss, damage or liability.

10. TERMINATION OF INSURANCE

This Insurance may be terminated at any time at the request of the Insured; in which case the
Company will retain the premium calculated at the customary short period rate for the time the
Policy has been in force. This insurance may also at any time be terminated at the option of the
Company, on 15 days notice to that effect being given to the Insured, in which case the
Company shall be liable to repay on demand a ratable proportion of the premium for the
unexpired term from the date of the cancellation.

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 SECTION I – EQUIPMENT

All Electronic equipments like Computers, Medical, Biomedical, Micro- processors; Audio/Visual
equipments including the value of Systems Software may be covered under Electronic Equipment
Policy. The term equipment shall include the entire computer system consisting of CPU, Keyboards,
Monitors, Printers, Stabilizers, UPS, System Software etc.

Dish Antenna is excluded from the scope of cover under this policy. Further portable Electronic
Equipments like notebook, lap top computer, sonography are also excluded under EEI Policy.

1. SCOPE OF COVER –

The Company hereby agrees with the insured (subject to the exclusions & conditions contained
herein or endorsed hereon) that if at any time during the period of Insurance stated in the
schedule or during any subsequent period for which the insured pays and the Company may
accept the premium for the renewal of this Policy, the items or any part thereof entered in the
Schedule shall suffer any unforeseen and sudden physical loss or damage from any cause, other
than those specifically excluded, in a manner necessitating repair or replacement, the Company
will indemnify the Insured in respect of such loss or damage as hereinafter provided by
payment in cash, replacement or repair (at their own option) upto an amount not exceeding in
any one year of insurance in respect of each of the items specified in the Schedule the sum
set opposite thereto and not exceeding in all the total sum expressed in the Schedule as insured
hereby.

2. SPECIAL EXCLUSION TO SECTION - I

The Company shall not, however, be liable for -

(a) the Excess stated in the Schedule to be borne by the Insured in any one occurrence; if
more than one item is lost or damaged in one occurrence, the insured shall not, however,
be called upon to bear more than the highest single Excess applicable to such items;

(b) loss or damage caused by any faults or defects existing at the time of commencement of
the present insurance within the knowledge of the insured, or his representatives, whether
such faults or defects were known to the company or not;

(c) loss or damage as a direct consequence of the continual influence of operation (e.g. wear
and tear, cavitations, erosion, corrosion, incrustation) or of gradual deterioration due to
atmospheric conditions;

(d) any costs incurred in connection with the elimination of functional failures unless such failures
were caused by an indemnifiable loss of or damage to the insured items;

(e) any costs incurred in connection with the maintenance of the insured items, such exclusion
also applying to parts exchanged in the course of such maintenance operations;

(f) loss or damage for which the manufacturer or supplier of the insured items is responsible
either by law or under contract;

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 (g) loss of or damage to rented or hired equipment for which the owner is responsible either by
law or under a lease and/or maintenance agreement;

(h) consequential loss or liability of any kind or description;

(i) loss of or damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, rubber
tyres, exchangeable tools, engraved cylinders, objects made of glass, porcelain or
ceramics sieves or fabrics, or any operating media (e.g. lubricating oil, fuel, chemicals);

(j) aesthetic defects, such as scratches on painted polished or enamelled surfaces.

In respect of the parts mentioned under i) and j) above the Company shall be liable to provide
compensation in the event that such parts are affected by an indemnifiable loss or damage to the
insured items.

PROVISIONS APPLYING TO SECTION – I

SUM INSURED –

It is a requirement of this insurance that the Sum Insured shall be equal to the cost of replacement of
the insured property by new property of the same kind and same capacity, which shall mean its
replacement cost including freight, dues and customs duties, if any and erection costs.

The sum insured of the equipment insured under this section shall include the value of ‘System
Software’.

BASIS OF INDEMNITY –

(a) In cases where damage to an insured item can be repaired the Company will pay expenses
necessarily incurred to restore the damaged machine to its former state of serviceability plus the
cost of dismantling and re-erection incurred for the purpose of effecting the repairs as well as
ordinary freight to and from a repair-shop customs duties and dues if any, to the extent such
expenses have been included in the Sum Insured. If the repairs are executed at a workshop
owned by the Insured, the Company will pay the cost of materials and wages incurred for the
purpose of the repairs plus a reasonable percentage to cover overhead charges.

No deduction shall be made for depreciation in respect of parts replaced, except those with
limited life, but the value of any salvage will be taken into account. If the cost of repairs as
detailed hereinabove equals or exceeds the actual value of the machinery insured immediately
before the occurrence of the damage, the settlement shall be made on the basis provided for in
(b) below.

(b) In cases where an insured item is destroyed, the Company will pay the actual value of the item
immediately before the occurrence of the loss, including costs for ordinary freight, erection and
customs duties if any, provided such expenses have been included in the sum insured, such
actual value to be calculated by deducting proper depreciation from the replacement value of the
item. The Company will also pay any normal charges for the dismantling of the machinery
destroyed, but the salvage will be taken into account.

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 Any extra charges incurred for overtime, night-work, work on public holidays, express freight, are
covered by this Insurance only if especially agreed to in writing.

In the event of the Makers' drawings, patterns and core boxes necessary for the execution of a
repair not being available the Company shall not be liable for the cost of making any such
drawings, patterns and core boxes.

The cost of any alterations, improvements or overhauls shall not be recoverable under this policy.

The cost of any provisional repairs will be borne by the Company if such repairs constitute part of
the final repairs, and do not increase the total repair expenses.

(c) In cases where the Insured item is subjected to total loss and meanwhile it becomes obsolete, all
costs necessary to replace the lost or damaged insured item with a follow-up model (similar type)
of similar structure/ configuration (of similar quality) will be reimbursed.

If the sum insured is less than the amount required to be insured as per Provisions applying to
Section - I hereinabove, the Company will pay only in such proportion as the sum insured bears
to the amount required to be insured. Every item if more than one shall be subject to this condition
separately.

The Company will make payments only after being satisfied, with necessary bills and documents
that the repairs have been effected or replacements have taken place, as the case may be. The
Company may, however, not insist for bills and documents in case of total loss where the Insured
is unable to replace the damaged equipment for reasons beyond their control. In such cases
claims can be settled on ‘Indemnity Basis’.

WARRANTY –

It is warranted that the Maintenance Agreement in force at the inception of this policy is maintained
during the currency of this policy and no variation in the terms of the Agreement shall be made
without the written consent of the Company being obtained.

For the purpose of this warranty the word ‘Maintenance’ shall mean the following -

1. Safety checks,
2. Preventive maintenance
3. Rectification of loss or damage or faults arising from normal operation as well as from ageing.

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 Section II – EXTERNAL DATA MEDIA

SCOPE OF COVER –

The Company hereby agrees with the Insured that if the external data media entered in the Schedule
inclusive of the information stored thereon, which can be directly processed in EDP systems, shall
suffer any material damage caused by peril covered under Section 1 of this Policy, the Company will
indemnify the Insured as hereinafter provided in respect of such loss or damage up to an amount not
exceeding in any one year of insurance in respect of each of the data media specified in the Schedule
the sum set opposite thereto and not exceeding in all the total sum insured hereby, provided always
that such loss or damage occurs during the period of Insurance stated in the Schedule or during
any subsequent period for which the Insured pays and the Company may accept the premium for
the renewal of this Policy. This cover applies while the insured data media are kept on the Premises.
Coverage against restoration of data under Section II only to be granted if backup system is available.

SPECIAL EXCLUSIONS TO SECTION II –

The Company shall, however, not be liable for -

1. the excess stated in the Schedule to be borne by the Insured in any one occurrence;
2. any costs arising from false programming, punching, labelling or inserting, inadvertent cancelling
of information or discarding of data media, and from loss of information caused by magnetic
fields;
3. Consequential loss of any kind or description whatsoever.

PROVISIONS APPLYING TO SECTION II –

Memo 1 Sum Insured –

It is a requirement of this Insurance that the sum insured shall be the amount required for restoring
the insured external data media by replacing lost or damaged data media by new material and
reproducing lost information.

Memo 2 Basis of Indemnity –

The Company will indemnify any expenses that can be proved to have been incurred by the Insured
within a period of 12 months as from the date of the occurrence strictly for the purpose of restoring
the insured external data media to a condition equivalent to that existing prior to the occurrence and
necessary for permitting data processing operations to be continued in the normal manner.

If it is not necessary to reproduce lost data or information, or if such reproduction is not effected within
12 months after the occurrence, the Company shall only be liable to indemnify the expenses incurred
for replacing the lost or damaged data media themselves by new material.

As from the date of an indemnifiable occurrence the sum insured shall be reduced for the remaining
period of insurance by the amount of indemnity paid, unless the sum insured is reinstated.

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 Section III – INCREASED COST OF WORKING

Notwithstanding Special Exclusion (h) under Section I of this Policy the Company hereby agrees to
indemnify the Insured up to but not exceeding the limits of Indemnity stated in the Schedule for all
additional costs which the Insured shall incur to ensure continued data processing on substitute
equipment if such costs arise as an unavoidable consequence of an indemnifiable loss or
damage during the period of insurance to property insured under the Material Damage Section of this
Policy.

SPECIAL EXCLUSIONS TO SECTION III –

The Company shall not be liable for -

1. Costs incurred for use of substitute equipment during the Time Excess stated in the Schedule,

2. Costs for replacement of data media, data and regeneration of data,

3. Costs arising out of circumstances, which are not connected with the insured material damage. In
particular the Company shall not be liable for additional costs arising out of -

(a) bodily injuries,

(b) orders or measures imposed by any public authority,

(c) expansion and improvements of the equipments,

(d) Lack of funds causing delay in repairs or replacement of damaged equipments,

4. Any other consequential loss such as loss of market or interest.

PROVISIONS APPLYING TO SECTION III –

Memo 1 INDEMNITY PERIOD –

The Indemnity Period shall commence with putting into use the substitute equipments. The insured
shall bear that proportion of each claim, which corresponds to the Time Excess agreed.

Memo 2 SUM INSURED –

The `indemnity limit per hour' and `total sum insured’ stated in the schedule shall be declared by the
insured. The total sum insured shall represent the aggregate limit of indemnity payable for all events
occurring during the period of insurance.

The Company will also reimburse the insured for personnel expenses and costs for transportation of
materials following an event giving rise to a claim under this Section of the Policy provided separate
sums therefor have been entered in the Schedule.

As from the date of an indemnifiable occurrence the sum insured shall be reduced for the remaining
period of insurance by an amount of indemnity paid unless reinstated by payment of an additional
premium prescribed by the Company.

Memo 3 LOSS SETTLEMENT –

The Company shall indemnify those costs and expenses, which can be proved to have been incurred
during the indemnity period to maintain data processing operations to their previous extent, that are

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additional to those which would have been incurred during the same period if no insured event had
occurred.

The total indemnity per event shall not exceed an amount equal to the agreed `indemnity limit per
hour' or the `actual hourly rate payable for the use of substitute equipments,' whichever is less
multiplied by the number of working hours stated as `Indemnity Period’ in the schedule or by the
actual number of working hours for which the substitute equipment is put into use, whichever shall be
less.

However, if it is found, following an interruption, that the limit selected `per hour’ is less than the
amount actually incurred per hour for use of substitute equipment, the Company shall be liable to
indemnify the insured in the same proportion as the limit selected `per hour' bears to the amount
actually incurred per hour.

Provided always that –

(i) the interruptions shorter than the Time Excess stated in the schedule shall be excluded from the
scope of this Policy and

(ii) in respect of interruptions longer than the Time Excess the insured shall bear that proportion
of each claim which corresponds to the Time Excess.

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