AIRCRAFT INSURANCE POLICY

POLICY SCHEDULE

Policy Number: {Response}

Item 1. NAME AND ADDRESS OF THE INSURED:

{Response}

Item 2. PERIOD OF INSURANCE:

From: {Response}

To: {Response}

Both days {Response} Local Standard Time at the address of the Insured

Item 3. SCHEDULE OF AIRCRAFT:

(1) (2) (3) (4) (5)

Make and Registration Maximum Agreed Value Risks Covered
Model Marks Number of (Insert Flight, Taxiing, Moored,
Ground as applicable)
Passengers
{Response} {Response} {Response} {Response} {Response}

Additions and Deletions of Aircraft:

All additions, deletions and changes in Aircraft Agreed Values are subject to prior
agreement by Insurers.

Item 4. LIMITS:

SECTION 1 – Physical Loss of or Damage to Aircraft:

Agreed Values as specified in Item 3 (4) above

SECTION 2 – Legal Liability to Third Parties (Other than Passengers):

Bodily Injury and Property Damage combined:

{Response} any one Occurrence

1
 SECTION 3 – Legal Liability to Passengers (Including Passenger Baggage and
Personal Effects):

Bodily Injury and Property Damage combined:

{Response} each passenger

Property Damage to Passenger Baggage and Personal Effects sub-limited to:

{Response} each passenger

OR

SECTIONS 2 and 3 Combined – Legal Liability to Third Parties and Passengers

(Including Passenger Baggage and Personal Effects):

Bodily Injury and Property Damage combined:

{Response} any one Occurrence

Bodily Injury to Passengers sub-limited to:

{Response} each passenger

Property Damage to Passenger Baggage and Personal Effects sub-limited to:

{Response} each passenger

Item 5. DEDUCTIBLES:

SECTION 1:

{Response}

SECTION 2:

{Response}

SECTION 3:

Passenger Baggage and Personal Effects:

{Response}

Item 6. PURPOSE OF USE:

(1) Standard Uses: {Insert Private Pleasure, Business, Commercial or Rental as

applicable}

{Response}

(2) Special Uses: {Response}

(3) Special Rental Uses: {Response}

2
Item 7. PILOTS:

{Response}

Item 8. THE GEOGRAPHICAL LIMITS IN RESPECT OF WHICH THE COVERAGE

AFFORDED BY THIS POLICY APPLIES:

{Response}

Item 9. PREMIUM:

SECTION 1: {Response}

SECTION 2: {Response}

SECTION 3: {Response}

SECTIONS 2 AND 3
(COMBINED): {Response}

TOTAL PREMIUM: {Response}

Item 10. CHOICE OF LAW AND JURISDICTION:

This Policy shall be governed by and construed in accordance with the law of
{Response} and each party agrees to submit to the exclusive jurisdiction of the Courts of
{Response} in any dispute arising hereunder.

Item 11. ALL NOTIFICATIONS REQUIRED BY THIS POLICY SHALL BE GIVEN TO:

{Response}

3
Certain words and phrases used in this Policy have special meanings which can be found in
the Definitions below.

DEFINITIONS

Standard Uses means use of Aircraft within Definitions 1 to 4 below other than for Special Uses or
Special Rental Uses.

1. "Private Pleasure" means use of Aircraft for private and pleasure purposes but NOT for any
business or professional purposes nor for hire or reward. Private Pleasure includes
continuation training of permitted pilots as named in Item 7. of the Policy Schedule.

2. "Business" means the uses specified in Private Pleasure and use of Aircraft for business or
professional purposes including use for the transportation of executives, employees, guests of
the Insured and their accompanying baggage and cargo but NOT use for hire or reward.

3. "Commercial" means the uses specified in Business and use of Aircraft for the carriage by the
Insured of passengers, baggage accompanying passengers and cargo for hire or reward.

4. "Rental" means rental, lease, charter or hire of Aircraft by the Insured to any person, company
or organisation for Private Pleasure and Business uses only, where the operation of the Aircraft
is not under the control of the Insured.

Special Uses means use of Aircraft for flight instruction (except continuation training as provided for in
Definition 1), aerobatics, hunting, patrol, fire-fighting, the intentional dropping, spraying or release of
anything, any form of experimental or competitive flying, and other use involving abnormal hazard.
No cover is provided unless details of such use(s) are declared to Insurers and specified in Item 6 (2)
of the Policy Schedule.

Special Rental Uses means rental for any other purpose than stated in 4 above. No cover is provided
unless details of such use(s) are declared to Insurers and specified in Item 6 (3) of the Policy
Schedule.

5. "Flight" means from the time the Aircraft moves forward in taking off or attempting to take off,
whilst in the air, and until the Aircraft completes its landing run. A rotary-wing aircraft shall be
deemed to be in Flight when the rotors are in motion as a result of engine power, the
momentum generated therefrom, or autorotation.

6. "Taxiing" means movement of the Aircraft under its own power other than in Flight. Taxiing shall
not be deemed to cease merely by reason of a temporary halting of the Aircraft.

7. "Moored" means while the Aircraft is afloat and made fast to its moorings, or is being launched
or hauled up.

8. "Ground" means whilst the Aircraft is not in Flight or Taxiing or Moored.

The above definitions 5 to 8 constitute Risks Covered as specified in Item 3 (5) of the Policy
Schedule.

9. “Aircraft” means the aircraft specified in Item 3 of the Policy Schedule together with the
engine(s) and standard instruments and equipment usually installed in or on the aircraft whilst:

(a) installed in or on the aircraft;

(b) temporarily detached from the aircraft;

(c) detached from the aircraft for replacement until the “commencement of the operation of
fitting” the replacement item, at which time the replacement item shall be considered part
of the aircraft.

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 “commencement of the operation of fitting” means from the moment the item ceases to
be in contact with the ground or the trolley/stand on which it is located when the process
of fitting it to the aircraft is commenced.

10. “Bodily Injury” means bodily injury, sickness or disease including death at any time resulting
therefrom.

11. “Property Damage” means physical loss of or damage to or destruction of tangible property,
including the resultant loss of use of such property.

12. "Occurrence" means an accident or a continued or repeated exposure to conditions occurring

during the Period of Insurance, which results in Bodily Injury and/or Property Damage which is
neither expected nor intended from the standpoint of the Insured. All liability arising out of such
exposure to substantially the same general conditions shall be deemed to arise out of one
Occurrence.

13. “Overhaul Cost" means the costs of labour and materials which are or would be incurred in
overhaul or replacement (whichever is necessary) at the end of the Overhaul Life of the
damaged or a similar Unit.

14. "Overhaul Life" means the amount of use, or operational and/or calendar time which, according
to the aviation authority having relevant jurisdiction over the Aircraft, determines when overhaul
or replacement of a Unit is required.

15. “Total Loss” means:

(a) physical damage to the Aircraft where in the opinion of Insurers:

(i) the Aircraft is damaged to such an extent that it cannot be repaired; or

(ii) the cost of repairing the Aircraft is estimated to exceed its Agreed Value.

(b) the disappearance of the Aircraft if it cannot be located 30 days after:

(i) the commencement of Flight; or

(ii) the date of the theft report.

16. "Unit" means a part or an assembly of parts (including any sub-assemblies) of the Aircraft
which has been assigned an Overhaul Life as a part or an assembly. An engine complete with
all parts normally attached when removed for the purpose of overhaul or replacement shall
constitute a single Unit.

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 SECTION 1 – PHYSICAL LOSS OF OR DAMAGE TO AIRCRAFT

1. Coverage

(a) The Insurers will pay for physical loss of or damage to the Aircraft occurring during the
Period of Insurance, and arising from the risks covered as specified in Item 3 (5) of the
Policy Schedule, but not exceeding the Agreed Value as specified in Item 3 (4) of the
Policy Schedule less any applicable amount specified in Condition 3 (b) and (c) below.

(b) In the event of an Aircraft making a forced landing, including as a result of force majeure,
in any place where it is unable to take-off safely, Insurers will pay for all reasonable
costs, expenses or expenditure for the removal of the Aircraft to the nearest suitable
take-off area, even if no damage has been sustained, provided always that the Insurers’
liability for such costs, expenses or expenditure, and for any loss of or damage to the
Aircraft does not exceed the Agreed Value of the Aircraft as specified in Item 3 (4) of the
Policy Schedule.

(c) For any Aircraft covered for the risk of Flight, the Insurers will pay in addition any
reasonable emergency expenses necessarily incurred by the Insured for the immediate
safety of the Aircraft consequent upon damage or forced landing, up to 10% of the
Agreed Value as specified in Item 3 (4) of the Policy Schedule.

2. Exclusions applicable to this Section

This Section does not apply to:

(a) wear and tear, deterioration, breakdown, defect or failure howsoever caused in any Unit
of the Aircraft and the consequences thereof within such Unit;

(b) damage to any Unit by anything which has a progressive or cumulative effect, but
damage attributable to a single recorded incident is covered under paragraph 1 (a)
above.

For a single recorded incident to be covered with respect to an engine Unit the damage
must be of such severity that it requires the engine Unit to be immediately withdrawn
from service upon first landing of the Aircraft to which it is attached.

HOWEVER physical loss of or damage to the Aircraft consequent upon 2 (a) or 2 (b) above is
covered.

(c) theft of an Aircraft by an Insured or with their knowledge or consent.

3. Conditions applicable to this Section

(a) Dismantling, Transport and Repairs

If the Aircraft is damaged:

(i) no dismantling or repairs shall be commenced without the consent of the Insurers
except whatever is necessary in the interests of safety, or to prevent further
damage, or to comply with orders issued by the appropriate authority;

(ii) the Insurers will pay only for repairs and transport of labour and materials by the
most economical method unless the Insurers agree otherwise with the Insured.

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 (b) Partial Loss

In the event that Insurers settle a claim other than on the basis of a Total Loss the
Insurers will pay the cost of repairing the Aircraft less:

(i) any applicable Deductible specified in Item 5 of the Policy Schedule and/or

(ii) such proportion of the Overhaul Cost of any Unit repaired or replaced as the used
time bears to the Overhaul Life of the Unit.

(c) Total Loss

In the event that Insurers settle a claim on the basis of a Total Loss the Insurers will pay
the Agreed Value of the Aircraft as specified in Item 3 (4) of the Policy Schedule less any
applicable Deductible specified in Item 5 of the Policy Schedule.

(d) Salvage

If the Insurers settle a claim on the basis of a Total Loss, the Aircraft will no longer be
insured hereunder, and the Insurers may take the Aircraft together with all documents of
record, registration and title thereto as salvage.

(e) No Abandonment

Unless the Insurers elect to take the Aircraft as salvage the Aircraft shall at all times
remain the property of the Insured who shall have no right of abandonment to the
Insurers.

(f) Theft of the Aircraft

In the event of theft of the Aircraft the Insured shall report details to the police
immediately. If the Aircraft is found undamaged before Insurers have paid any claim in
relation to such theft, then Insurers will pay the cost of returning it to the Insured's home
airport / airfield by the most economical means.

SECTION 2 – LEGAL LIABILITY TO THIRD PARTIES (OTHER THAN PASSENGERS)

1. Coverage

The Insurers agree to pay on behalf of the Insured all sums which the Insured shall become
legally liable to pay as compensatory damages for Bodily Injury and/or Property Damage to
third parties caused by an Occurrence arising from the use of the Aircraft by the Insured.

The liability of the Insurers under this Section shall not exceed the applicable Limits as
specified in Item 4 of the Policy Schedule less any applicable Deductible specified in Item 5 of
the Policy Schedule.

2. Exclusions applicable to this Section

This Section does not apply to:

(a) Bodily Injury sustained by any director or employee of the Insured or partner in the
Insured's business whilst acting in the course of their employment with or duties for the
Insured;

(b) Bodily Injury sustained by any member of the flight, cabin or other crew whilst engaged in
the operation of the Aircraft;

7
 (c) Bodily Injury sustained by any passenger whilst entering, on board, or alighting from the
Aircraft;

(d) Property Damage to any property belonging to or in the care, custody or control of the
Insured;

(e) claims excluded by the attached Noise and Pollution and Other Perils Exclusion Clause
AVN46B;

(f) claims excluded by the attached Asbestos Exclusion Clause 2488AGM00003.

SECTION 3 – LEGAL LIABILITY TO PASSENGERS

1. Coverage

The Insurers agree to pay on behalf of the Insured all sums which the Insured shall become
legally liable to pay as compensatory damages for:

(a) Bodily Injury to passengers whilst entering, on board, or alighting from the Aircraft
caused by an Occurrence and

(b) Property Damage to baggage and personal effects of passengers caused by an

Occurrence whilst such baggage and personal effects are in the care, custody or control
of the Insured for the purpose of carriage by air.

The liability of the Insurers under this Section shall not exceed the applicable Limits as
specified in Item 4 of the Policy Schedule less any applicable Deductible specified in Item 5 of
the Policy Schedule.

Provided always that:

(i) before a passenger boards the Aircraft the Insured shall take such measures as are
necessary to exclude or limit liability for claims under (a) and (b) above to the extent
permitted by law;

(ii) if the measures referred to in proviso (i) above include the issuance of a passenger
ticket/baggage check, the same shall be delivered correctly completed to the passenger
a reasonable time before the passenger boards the Aircraft.

In the event of failure to comply with proviso (i) or (ii) the liability of the Insurers under this
Section shall not exceed the amount of the legal liability, if any, that would have existed had the
proviso been complied with.

2. Exclusions applicable to this Section

This Section does not apply to:

(a) Bodily Injury sustained by any director or employee of the Insured or partner in the
Insured's business whilst acting in the course of their employment with or duties for the
Insured;

(b) Bodily Injury sustained by any member of the flight, cabin or other crew whilst engaged in
the operation of the Aircraft;

(c) claims excluded by the attached Asbestos Exclusion Clause 2488AGM00003.

8
 DEFENCE AND SETTLEMENT PAYMENTS APPLICABLE TO SECTIONS 2 AND 3

With respect to such coverage as is afforded under Sections 2 and 3 of this Policy, the Insurers shall:

1. Have the right to defend at their expense in the name of and on behalf of the Insured any claim
or legal proceedings brought against the Insured. However, the Insurers shall also have the
right to make such investigation, negotiation and settlement of any claim or legal proceedings
as they deem expedient. Furthermore, the Insurers shall pay all expenses incurred by the
Insured with the Insurers' approval (other than the salaries of the Insured's employees and the
Insured's normal office expenses) in respect of any such claim or legal proceedings brought
against the Insured. Such expenses are payable in full by the Insurers in addition to the
applicable limit of the Insurers’ liability as specified in Item 4 of the Policy Schedule.

2. Pay all costs assessed against the Insured in any claim or legal proceedings and all interest
accruing after entry of judgment until the Insurers have paid, tendered or deposited in court,
such part of such judgment as does not exceed the applicable limit of the Insurers' liability as
specified in Item 4 of the Policy Schedule. If the amount of any or all judgment(s) or
settlement(s) in respect of the same Occurrence exceeds the applicable limit of the Insurers’
liability then the liability of the Insurers’ in respect of the said costs shall be limited to such
proportion as the applicable limit of the Insurers’ liability under this Policy bears to the total
amount paid or awarded in the settlement of such claim(s) or legal proceedings. All costs paid
by Insurers under this paragraph 2 are within and not in addition to the applicable limit of the
Insurers' liability as specified in Item 4 of the Policy Schedule.

However, with respect to any coverage under this Policy which is subject to an aggregate limit of
liability, the Insurers shall not be obligated to defend any claim or legal proceedings nor to pay any
judgment, costs, interest or expenses after such aggregate limit of liability has been exhausted and in
this event the Insured shall have the right to take over control of proceedings from the Insurers.

GENERAL EXCLUSIONS APPLICABLE TO ALL SECTIONS

This Policy does not apply:

1. Whilst the Aircraft is being used by the Insured for any purpose other than those specified in
Item 6 of the Policy Schedule, or for any illegal purpose.

2. Whilst the Aircraft is outside the geographical limits specified in Item 8 of the Policy Schedule
unless due to a forced landing or as a result of force majeure.

3. Whilst the Aircraft is being piloted by any person other than as specified in Item 7 of the Policy
Schedule except that the Aircraft may be operated on the ground by any person competent for
that purpose.

4. Whilst the Aircraft is being transported by any means of conveyance except as the result of an
event giving rise to a claim under Section 1 of this Policy.

5. Whilst the Aircraft is landing on or taking off or attempting to do so from a place which does not
comply with the recommendations laid down by the manufacturer of the Aircraft unless due to a
forced landing or as a result of force majeure.

6. To liability assumed or rights waived by the Insured under any agreement (other than a
passenger ticket/baggage check issued under Section 3 hereof) except to the extent that such
liability would have attached to the Insured in the absence of such agreement.

7. Whilst the total number of passengers being carried in the Aircraft exceeds the maximum
number of passengers specified in Item 3 (3) of the Policy Schedule.

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8. To claims excluded by the attached War, Hi-Jacking and Other Perils Exclusion Clause
(Aviation) AVN48B.

9. To claims excluded by the attached Nuclear Risks Exclusion Clause AVN38B.

10. To claims excluded by the attached Date Recognition Exclusion Clause AVN2000A.

11. To claims excluded by the attached Contracts (Rights of Third Parties) Act 1999 Exclusion
Clause AVN72.

12. To claims excluded by the attached Sanctions and Embargo Clause AVN111.

CONDITIONS PRECEDENT APPLICABLE TO ALL SECTIONS

It is necessary that the Insured observes and fulfils the following Conditions before the
Insurers have any liability to make any payment under this Policy.

1. The Insured shall at all times use due diligence and do and concur in doing everything
reasonably practicable to avoid or diminish any loss hereon.

2. The Insured shall comply with all air navigation and airworthiness orders and requirements
issued by any aviation authority having jurisdiction affecting the safe operation of the Aircraft
and shall ensure that:

(a) the Aircraft is airworthy at the commencement of each Flight;

(b) all log books and other records in connection with the Aircraft which are required by any
official regulations in force from time to time shall be kept up to date and shall be
produced to the Insurers or their agents on request;

(c) the employees and agents of the Insured comply with such orders and requirements.

3. Notice of any event likely to give rise to a claim under this Policy shall be given to Insurers as
soon as possible via the firm named for the purpose specified in Item 11 of the Policy
Schedule. In all cases the Insured shall:

(a) furnish full particulars in writing of such event and forward immediately notice of any
claim with any letters or documents relating thereto;

(b) give notice of any impending prosecution;

(c) render such further information and assistance as the Insurers may reasonably require;

(d) not act in any way to the detriment or prejudice of the interest of the Insurers.

4. The Insured shall not make any admission of liability, payment, offer or promise of payment
without the written consent of the Insurers.

10
 GENERAL CONDITIONS APPLICABLE TO ALL SECTIONS

1. The coverage afforded under Section 1 of this Policy shall be proportional with any other valid
and collectible insurance available to the Insured. The coverage afforded under Sections 2 and
3 of this Policy shall be excess insurance over any other valid and collectible insurance
available to the Insured.

2. Upon a payment being made under this Policy, the Insurers shall be subrogated to the rights
and remedies of the Insured who shall co-operate with and do all things necessary to assist the
Insurers to exercise such rights and remedies.

3. Should there be any material change in the circumstances or nature of the risks which are the
basis of this contract the Insured shall give immediate notice thereof to the Insurers and no
claim arising subsequent to such change shall be recoverable hereunder unless such change
has been accepted by the Insurers.

4. This Policy may be cancelled by notice in writing. The Insured may give notice at any time. The
Insurers shall give 30 days or such other notice, if of longer duration, as is mandated by the law
stated in Item 10 of the Policy Schedule.

If the Policy shall be cancelled by the Insured, the Insurers shall be entitled to the proportion of
the premium calculated in accordance with the following scale.

1 month on risk - 20% annual premium

2 months on risk - 30% annual premium
3 months on risk - 40% annual premium
4 months on risk - 50% annual premium
5 months on risk - 60% annual premium
6 months on risk - 70% annual premium
7 months on risk - 75% annual premium
8 months on risk - 80% annual premium
9 months on risk - 85% annual premium

Over 9 months equivalent to full annual premium.

If the Policy shall be cancelled by Insurers, they shall be entitled to the premium for the period
that this Policy has been in force, calculated pro-rata. Notice of cancellation by the Insurers
shall be effective even though the Insurers make no payment or tender of return premium.

There will be no return of premium in respect of any Aircraft on which a loss is paid or is
payable under this Policy.

5. This Policy shall not be assigned in whole or in part except with the prior written agreement of
the Insurers.

6. The choice of law and jurisdiction applicable to this Policy is as specified in Item 10 of the
Policy Schedule.

7. When two or more Aircraft are insured hereunder the terms of this Policy, including the Limits
as specified in Item 4 of the Policy Schedule, shall apply separately to each Aircraft unless
otherwise specified herein.

8. Notwithstanding the inclusion herein of more than one Insured, whether by endorsement or
otherwise, the total liability of the Insurers in respect of any or all Insureds shall not exceed the
Limits as specified in Item 4 of the Policy Schedule less any applicable Deductible specified in
Item 5 of the Policy Schedule.

11
9. The Insured shall not in the presentation and furtherance of any claim:

(a) deliberately or recklessly conceal from Insurers any information which the Insured knows
or ought to know might be material to their consideration of any claim;

(b) provide to Insurers information, which the Insured knows to be false, with respect either
to any event relied upon as a cause of loss or as to the amount claimed; nor

(c) otherwise use fraudulent means or devices, including suppressing a known defence to
Insurers’ liability.

In any such event the Insurers shall have the option to refuse to pay the whole or any part of
the claim to the Insured.

In the circumstances set out in sub-paragraph (b) above, Insurers shall also have the option to:

(i) terminate the cover provided by the Policy to the Insured with effect from the date of the
event relied upon for the claim;

(ii) recover any sums paid to the Insured in respect of losses occurring on or after the date
of the event relied upon for the claim; and

(iii) retain any and all premium paid by such Insured.

If any provision of this condition is in conflict with the law governing the Policy it shall be of no
effect to the extent of such conflict.

AVN 1D 17.3.14

In common with all AICG produced AVN policy wordings, this policy wording is published by
AICG, but it is expressly non-binding and AICG makes no recommendation as to its use. Insurers
are of course free to offer different policy wordings and clauses to their policy holders.

12
 ATTACHMENTS FORMING A PART OF THIS POLICY

ATTACHMENT NUMBER 1

WAR, HI-JACKING AND OTHER PERILS EXCLUSION CLAUSE (AVIATION)

This Policy does not cover claims caused by:

(a) War, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war,
rebellion, revolution, insurrection, martial law, military or usurped power or attempts at
usurpation of power.

(b) Any hostile detonation of any weapon of war employing atomic or nuclear fission and/or fusion
or other like reaction or radioactive force or matter.

(c) Strikes, riots, civil commotions or labour disturbances.

(d) Any act of one or more persons, whether or not agents of a sovereign Power, for political or
terrorist purposes and whether the loss or damage resulting therefrom is accidental or
intentional.

(e) Any malicious act or act of sabotage.

(f) Confiscation, nationalisation, seizure, restraint, detention, appropriation, requisition for title or
use by or under the order of any Government (whether civil military or de facto) or public or
local authority.

(g) Hi-jacking or any unlawful seizure or wrongful exercise of control of the Aircraft or crew in Flight
(including any attempt at such seizure or control) made by any person or persons on board the
Aircraft acting without the consent of the Insured.

Furthermore this Policy does not cover claims arising whilst the Aircraft is outside the control of the
Insured by reason of any of the above perils. The Aircraft shall be deemed to have been restored to
the control of the Insured on the safe return of the Aircraft to the Insured at an airfield not excluded by
the geographical limits of this Policy, and entirely suitable for the operation of the Aircraft (such safe
return shall require that the Aircraft be parked with engines shut down and under no duress).

AVN48B 1.10.96

13
 ATTACHMENTS FORMING A PART OF THIS POLICY

ATTACHMENT NUMBER 2

NUCLEAR RISKS EXCLUSION CLAUSE

1. This Policy does not cover:

(i) loss of or destruction of or damage to any property whatsoever or any loss or expense
whatsoever resulting or arising therefrom or any consequential loss

(ii) any legal liability of whatsoever nature

directly or indirectly caused by or contributed to by or arising from:

(a) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear
assembly or nuclear component thereof;

(b) the radioactive properties of, or a combination of radioactive properties with toxic,
explosive or other hazardous properties of, any other radioactive material in the course
of carriage as cargo, including storage or handling incidental thereto;

(c) ionizing radiations or contamination by radioactivity from, or the toxic, explosive or other
hazardous properties of, any other radioactive source whatsoever.

2. It is understood and agreed that such radioactive material or other radioactive source in
paragraph 1(b) and (c) above shall not include:

(i) depleted uranium and natural uranium in any form;

(ii) radioisotopes which have reached the final stage of fabrication so as to be usable for any
scientific, medical, agricultural, commercial, educational or industrial purpose.

3. This Policy, however, does not cover loss of or destruction of or damage to any property or any
consequential loss or any legal liability of whatsoever nature with respect to which:

(i) the Insured under this Policy is also an insured or an additional insured under any other
insurance policy, including any nuclear energy liability policy; or

(ii) any person or organization is required to maintain financial protection pursuant to

legislation in any country; or

(iii) the Insured under this Policy is, or had this Policy not been issued would be, entitled to
indemnification from any government or agency thereof.

4. Loss, destruction, damage, expense or legal liability in respect of the nuclear risks not excluded
by reason of paragraph 2 shall (subject to all other terms, conditions, limitations, warranties and
exclusions of this Policy) be covered, provided that:

(i) in the case of any claim in respect of radioactive material in the course of carriage as
cargo, including storage or handling incidental thereto, such carriage shall in all respects
have complied with the full International Civil Aviation Organization "Technical
Instructions for the Safe Transport of Dangerous Goods by Air", unless the carriage shall
have been subject to any more restrictive legislation, when it shall in all respects have
complied with such legislation;

14
 (ii) this Policy shall only apply to an incident happening during the period of this Policy and
where any claim by the Insured against the Insurers or by any claimant against the
Insured arising out of such incident shall have been made within three years after the
date thereof;

(iii) in the case of any claim for the loss of or destruction of or damage to or loss of use of an
aircraft caused by or contributed to by radioactive contamination, the level of such
contamination shall have exceeded the maximum permissible level set out in the
following scale:

Emitter Maximum permissible level of non-fixed

(IAEA Health and Safety Regulations) radioactive surface contamination
(Averaged over 300 cm2)

Beta, gamma and low toxicity alpha

Not exceeding 4 Becquerels/cm 2
emitters
(10 - 4 microcuries/cm2)
All other emitters
Not exceeding 0.4 Becquerels/cm 2
(10 - 5 microcuries/cm 2)

(iv) the cover afforded hereby may be cancelled at any time by the Insurers giving seven
days' notice of cancellation.

AVN38B 22.7.96

15
 ATTACHMENTS FORMING A PART OF THIS POLICY

ATTACHMENT NUMBER 3

NOISE AND POLLUTION AND OTHER PERILS EXCLUSION CLAUSE

1. This Policy does not cover claims directly or indirectly occasioned by, happening through or in
consequence of:-

(a) noise (whether audible to the human ear or not), vibration, sonic boom and any
phenomena associated therewith,

(b) pollution and contamination of any kind whatsoever,

(c) electrical and electromagnetic interference,

(d) interference with the use of property;

unless caused by or resulting in a crash fire explosion or collision or a recorded in-flight

emergency causing abnormal aircraft operation.

2. With respect to any provision in the Policy concerning any duty of Insurers to investigate or
defend claims, such provision shall not apply and Insurers shall not be required to defend

(a) claims excluded by Paragraph 1 or

(b) a claim or claims covered by the Policy when combined with any claims excluded by
Paragraph 1 (referred to below as "Combined Claims").

3. In respect of any Combined Claims, Insurers shall (subject to proof of loss and the limits of the
Policy) reimburse the Insured for that portion of the following items which may be allocated to
the claims covered by the Policy:

(i) damages awarded against the Insured and

(ii) defence fees and expenses incurred by the Insured.

4. Nothing herein shall override any radioactive contamination or other exclusion clause attached
to or forming part of this Policy.

AVN46B 1.10.96

16
 ATTACHMENTS FORMING A PART OF THIS POLICY

ATTACHMENT NUMBER 4

DATE RECOGNITION EXCLUSION CLAUSE

This Policy does not cover any claim, damage, injury, loss, cost, expense or liability (whether in
contract, tort, negligence, product liability, misrepresentation, fraud or otherwise) of any nature
whatsoever arising from or occasioned by or in consequence of (whether directly or indirectly and
whether wholly or partly):

(a) the failure or inability of any computer hardware, software, integrated circuit, chip or information
technology equipment or system (whether in the possession of the Insured or of any third party)
accurately or completely to process, exchange or transfer year, date or time data or information
in connection with any change of year, date or time; whether on or before or after such change
of year, date or time;

(b) any implemented or attempted change or modification of any computer hardware, software,
integrated circuit, chip or information technology equipment or system (whether in the
possession of the Insured or of any third party) in anticipation of or in response to any such
change of year, date or time, or any advice given or services performed in connection with any
such change or modification;

(c) any non-use or unavailability for use of any property or equipment of any kind whatsoever
resulting from any act, failure to act or decision of the Insured or of any third party related to
any such change of year, date or time;

and any provision in this Policy concerning any duty of Insurers to investigate or defend claims shall
not apply to any claims so excluded.

AVN2000A 14.03.01

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 ATTACHMENTS FORMING A PART OF THIS POLICY

ATTACHMENT NUMBER 5

CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999 EXCLUSION CLAUSE

The rights of a person who is not a party to this insurance or reinsurance to enforce a term of this
insurance or reinsurance and/or not to have this insurance or reinsurance rescinded, varied or altered
without his consent by virtue of the provisions of the Contracts (Rights of Third Parties) Act 1999 are
excluded from this insurance or reinsurance.

AVN72 9.2.00

18
 ATTACHMENTS FORMING A PART OF THIS POLICY

ATTACHMENT NUMBER 6

ASBESTOS EXCLUSION CLAUSE

This Policy does not cover any claims of any kind whatsoever directly or indirectly relating to, arising
out of or in consequence of:

(1) the actual, alleged or threatened presence of asbestos in any form whatsoever, or any material
or product containing, or alleged to contain, asbestos; or

(2) any obligation, request, demand, order, or statutory or regulatory requirement that any Insured
or others test for, monitor, clean up, remove, contain, treat, neutralize, protect against or in any
other way respond to the actual, alleged or threatened presence of asbestos or any material or
product containing, or alleged to contain, asbestos.

However, this exclusion shall not apply to any claim caused by or resulting in a crash fire explosion or
collision or a recorded in-flight emergency causing abnormal aircraft operation.

Notwithstanding any other provisions of this Policy, Insurers will have no duty to investigate, defend or
pay defence costs in respect of any claim excluded in whole or in part under paragraphs (1) or (2)
hereof.

All other terms and conditions of the policy remain unchanged.

2488AGM00003

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 ATTACHMENTS FORMING A PART OF THIS POLICY

ATTACHMENT NUMBER 7

SANCTIONS AND EMBARGO CLAUSE

Notwithstanding anything to the contrary in the Policy the following shall apply:

1. If, by virtue of any law or regulation which is applicable to an Insurer at the inception of this Policy
or becomes applicable at any time thereafter, providing coverage to the Insured is or would be
unlawful because it breaches an embargo or sanction, that Insurer shall provide no coverage and
have no liability whatsoever nor provide any defence to the Insured or make any payment of
defence costs or provide any form of security on behalf of the Insured, to the extent that it would
be in breach of such law or regulation.

2. In circumstances where it is lawful for an Insurer to provide coverage under the Policy, but the
payment of a valid and otherwise collectable claim may breach an embargo or sanction, then the
Insurer will take all reasonable measures to obtain the necessary authorisation to make such
payment.

3. In the event of any law or regulation becoming applicable during the Policy period which will
restrict the ability of an Insurer to provide coverage as specified in paragraph 1, then both the
Insured and the Insurer shall have the right to cancel its participation on this Policy in accordance
with the laws and regulations applicable to the Policy provided that in respect of cancellation by the
Insurer a minimum of 30 days notice in writing be given. In the event of cancellation by either the
Insured or the Insurer, the Insurer shall retain the pro rata proportion of the premium for the period
that the Policy has been in force. However, in the event that the incurred claims at the effective
date of cancellation exceed the earned or pro rata premium (as applicable) due to the Insurer, and
in the absence of a more specific provision in the Policy relating to the return of premium, any
return premium shall be subject to mutual agreement. Notice of cancellation by the Insurer shall be
effective even though the Insurer makes no payment or tender of return premium.

AVN 111 01.10.10

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