Change of Insurer – EndorsementThis endorsement is dated 01 August 2017 and will apply to all policies taken out, or with a renewal effective date, on or after this date.

The information in this endorsement should be read with the last Policy You received for the Policy specified in your Policy Schedule and any other applicable endorsement.

Changes to your Policy

Your Policy is amended by the following:

Change 1: Change to details of CGU Insurance Limited ABN 27 004 478 371 AFS Licence No. 238291

All references to “CGU Insurance Limited ABN 27 004 478 371 AFS Licence No. 238291” are deleted and replaced by “Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU Insurance”.

Change 2: Change to details of CGU Insurance Limited

All references to “CGU Insurance Limited” are deleted and replaced by “Insurance Australia Limited trading as CGU Insurance”.

Insurer Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as CGU InsuranceCGU2286 REV0 06/17

directors & officers liabilityinsurance policy

Table of Contents

Page

Section 1 Operative Clause InsuringAgreementA-Directors&OfficersLiability 1

InsuringAgreementB-CorporateReimbursement 1

Section 2 Extensions AutomaticExtensions 1

2.1 AdvancementofDefenceCosts 1

2.2 ExtendedReportingPeriod 1

2.3 Estates&LegalRepresentatives 1

2.4 SpousalLiabilityCover 2

2.5 InsuredvsInsuredCover 2

2.6 AttendanceatOfficialInvestigationsorInquiries 2

2.7 OccupationalHealth&Safety 2

2.8 ContinuityofCover 2

2.9 NewSubsidiaries 3

2.10 Run-OffCoverforSubsidiaries 3

2.11 PreservationofIndemnity 3

2.12 CurrentOutsideDirectorships(Non-ProfitOrganisation) 3

2.13 LimitedProspectusLiability 3

2.14 Run-OffCoverforOutsideDirectorships 3

2.15 JointVentureCover 4

OptionalExtensions 4

2.16 ReinstatementofAggregateLimit 4

2.17 CurrentOutsideDirectorships(OtherthanNon-ProfitOrganisations) 4

2.18 ProspectusLiability-InitialPublicOffering 4

2.19 USA&CanadianJurisdiction 4

2.20 EntityCoverforEmploymentPracticesLiability 5

2.21 Pre-AcquisitionLiability 5

2.22 PollutionDefenceCosts 5

2.23 Multi-YearRun-Off 5

Section 3 Exclusions 3.1 Dishonesty&Fraud 6

3.2 KnownClaims&Circumstances 6

3.3 BreachofProfessionalDuty 6

3.4 InsuredvsInsured 6

3.5 ProspectusLiability 6

3.6 BodilyInjury&PropertyDamage 6

3.7 DateRecognition 7

3.8 FinesandPenalties 7

3.9 Pollution,NuclearRisks&Terrorism 7

3.10 Asbestos 7

3.11 ExclusionsapplyingtoExtension2.5(1)and2.20 7

Section 4 General Conditions 4.1 AuthorisationClause 8

4.2 SeverabilityandNon-Imputation 8

4.3 MergerorConsolidation 8

4.4 ClaimsCo-operation 8

4.5 Allocation 9

4.6 CourtJurisdiction 9

4.7 Deductibles 9

4.8 AggregateLiability 9

4.9 ParagraphHeadings 9

4.10 Non-Accumulation 9

4.11 Notice 9

4.12 Confidentiality 9

4.13 GenderandNumber 9

4.14 SeniorCounselClause 9

4.15 SettlementProcedures 10

4.16 Subrogation 10

4.17 Territory&Jurisdiction 10

4.18 OtherInsurance 10

4.19 Cancellation 10

4.20 LegalEnforceability 11

4.21 GoodsandServicesTax 11

Section 5 Definitions 5.1 Claim 11

5.2 Corporation 11

5.3 DefenceCosts 11

5.4 InsuredPerson 11

5.5 Insurer 11

5.6 IndemnityPeriod 11

5.7 JointVenture 12

5.8 KnownCircumstance 12

5.9 Loss 12

5.10 Non-ProfitOrganisation 12

5.11 Organisation 12

5.12 OutsideDirectorship 12

5.13 PeriodofInsurance 12

5.14 Policy 12

5.15 SubsidiaryCompany 12

5.16 Terrorism 12

5.17 WrongfulAct 12

Section 6 The way we handle your personal information 13

General Insurance Code of Practice 13

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InconsiderationofthepaymentofthepremiumsstatedinItem7oftheschedule,theInsurerwillprovidetheindemnitiessetoutinthePolicyinaccordancewiththetermsandconditionsexpressed.

Section 1 Operative Clause

Directors and Officers Liability Insuring Agreement A

TheInsurerwillpayonbehalfoftheInsured PersonsthatLossforwhichtheInsured PersonsmaynotbelegallyindemnifiedbytheCorporationarisingoutofanyClaim,byreasonofanyWrongful ActcommittedbythemintheircapacityasanInsured PersonfirstmadeagainstthemjointlyorseverallyduringthePeriod of InsuranceandnotifiedtotheInsurerduringtheIndemnity Period.

Corporate Reimbursement Insuring Agreement B

TheInsurerwillpayonbehalfoftheCorporationthatLosswhichitislegallypermittedtomakearisingoutofanyClaim,byreasonofanyWrongful Act,committedbyanyInsured PersonsintheircapacityasanInsured PersonfirstmadeagainsttheInsured Person duringthePeriod of InsuranceandnotifiedtotheInsurerduringtheIndemnity Period.

ThetotalamountpayableinrespectofallClaimsunderInsuringAgreementAand/orInsuringAgreementBand/ortheExtensionsofthisPolicy,shallnotintheaggregateexceedthelimitofaggregateliabilityasstatedinItem5oftheschedule.

Section 2 Extensions

Unlessexpresslyspecifiedtothecontrary,thecovergrantedbytheseextensionsissubjecttoallthetermsandconditionsofthisPolicy.

Automatic Extensions

2.1 Advancement of Defence Costs

IftheInsurerelectsnottotakeoverandconductthedefenceorsettlementofanyClaimtheInsurerwillpayallreasonableDefence CostsassociatedwiththatClaimasandwhentheyareincurredprovidedthat:

1. TheInsurerhasnotdeniedindemnityfortheClaim;and

2. ThewrittenconsentoftheInsurerisobtainedpriortotheInsured PersonincurringsuchDefence Costs(suchconsentnottobeunreasonablywithheld).

TheInsurerreservestherighttorecoveranyDefence CostspaidunderthisextensionfromtheInsured PersonortheCorporationseverallyaccordingtotheirrespectiveinterests,intheeventandtotheextentthatitissubsequentlyestablishedbyjudgmentorotherfinaladjudication,thattheywerenotentitledtoindemnityunderthisPolicy.

2.2 Extended Reporting Period

IftheInsurerrefusesuponrequesttoofferanyrenewaltermsandconditionsduringthePeriod of Insurance,theCorporationandtheInsured Personsshallcollectively(butnotseparately)havetherightuponpaymentofanamountequalto50%ofthetotalexpiringannualpremiumstatedinItem7ofthescheduletoaonce-onlyextensionofthePolicyforafurther12monthsimmediatelyfollowingtheexpiryofthePeriod of InsurancebutonlyforanyWrongful ActcommittedorallegedtohavebeencommittedorattemptedpriortotheexpiryofthePeriod of Insurance,providedalwaysthattherighttothisextensionisexercisedpriortotheexpiryofthePeriod of Insurance.

2.3 Estates & Legal Representatives

Theestates,heirsorlegalrepresentativesofdeceased,incompetentorinsolventInsuredPersons shallbeindemnifiedinlikemannertosuchInsured Persons,providedalwaysthattheyshallbesubjecttoallthetermsandconditionsofthisPolicyinsofarastheyareapplicable.

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2.4 Spousal Liability Cover

TheInsureragreestopayonbehalfofthelawfulspouseofanInsured PersonallLossinrespectofaWrongful Actbythe InsuredPerson.ProvidedalwaysthattheInsurershallonlyindemnifythespouseforLossarisingfromaClaimwhich:

1. ismadeagainstthespouseonlybecauseheorsheisthelawfulspouseoftheInsured Person;and

2. relatestopropertyeitherjointlyheldbytheInsured Personandhisorherlawfulspouse,ortransferredbythatInsured Persontohisorherlawfulspouseforlegitimatepurposesonly.

2.5 Insured vs Insured Cover

TheInsurerwillpayonbehalfoftheInsured PersonsanyClaimbroughtby:

1. anemployeeforLossdueto:

a. discriminationagainstanyemployee,orapplicantforemploymentwhetherbecauseofrace,colour,age,sex,disability,pregnancy,maritalstatus,sexualorientation,sexualpreferenceorotherwise;

b. wrongfuldismissalofanyemployee;

c. workplaceharassment(whethersexualorotherwise)ofanemployee;

d. breachofanimpliedtermofanoralorwrittenemploymentcontract;

e. wrongfuldemotion,failuretopromote,wrongfuldeprivationofcareeropportunity,wrongfuldiscipline,negligentevaluationorfailuretogranttenureofemploymenttoanemployee;

f. wrongfulrefusaltoemployanapplicant;

g. defamationarisingfromemploymentrelatedmatters;

h. misleadingmisrepresentationoradvertisingastothetermsandconditionsofemployment;or

i. denialofnaturaljusticetoanemployeeconcerningemployment.

Providedalwaysthat:

ForthepurposesofthisExtensiononly“employee”shallmeanprincipals,partners,directors,officersandemployeesoftheInsured,voluntaryworkers,contractortemporaryworkers.

2.anInsured Personforcontributionorindemnity,iftheClaimresultsdirectlyfromanotherClaimcoveredbythisPolicy;

3. ashareholderoftheCorporationinhis/her/itsownrightoronbehalfoftheCorporation.Providedalwaysthatsuchshareholder:

a.wasnotadirector,officeroremployeeoftheCorporationatthetimeoftheWrongful Act andhadnotbeendirectlyorindirectlyinvolvedinanyprocesswhichledtotheWrongful Actwhilstpreviouslyactingasadirector,officeroremployeeoftheCorporation;

b. isactingwithoutanydirectorindirectsolicitation,enticementorco-operation(otherthanco-operationlegallyrequiredbyanystatutoryorregulatoryauthority)fromanyInsured Person.

4. anyregulatoryauthorityonbehalfoftheCorporation.Providedalwaysthatsuchregulatoryauthorityisactingwithoutanydirectorindirectsolicitation,enticementorco-operation(otherthanco-operationlegallyrequiredbyanystatutoryorregulatoryauthority)fromanyInsured Person.

5. anycourtappointedliquidator,receiver,receiverandmanager,officialmanager,administratorortrusteeadministeringacompromiseorschemeofarrangementoftheCorporation.

WhereaconflictarisesbetweenthisextensionandExclusion3.4(InsuredvsInsured)ofthisPolicy,theprovisionsofthisextensionshallprevail.

2.6 Attendance at Official Investigations or Inquiries

TheInsurerwillpayDefence CostsincurredwithitspriorwrittenconsentbyoronbehalfofanInsured Personinattendinganyofficialinvestigation,examination,inquiryorotherproceedingsorderedorcommissionedbyanyofficialbodyorinstitution,wheresuchInsured Personislegallycompelledbysuchbodyorinstitutiontoattendsuchinvestigation,examination,inquiryorproceedingwhichisthesubjectofindemnityunderthisPolicy.

2.7 Occupational Health & Safety

NotwithstandingExclusion3.4(Insured vs Insured)and3.6(1)(Bodily Injury),theInsurerwillprovideindemnityforDefence CostsinrespectofanyClaim(otherthanacivilclaimforcompensationoraClaimotherwiseexcluded)forbreachofoccupationalhealthandsafetylaws.

2.8 Continuity of Cover

NotwithstandingExclusion3.2ofthisPolicy,theInsurerwillindemnifyanyInsured Person,foranyClaimotherwisecoveredbythisPolicy,arisingfromaKnown Circumstanceif:

1.therehasbeennofraudulentnon-disclosureorfraudulentmisrepresentationinrespectofsuchKnown Circumstance;and

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2.theInsurerwastheDirectors&OfficersLiabilityinsureroftheInsured PersonwhentheInsuredPersonfirstknewofsuchKnown Circumstance;and

3.theInsurercontinuedthereafter,withoutinterruption,tobetheDirectors&OfficersLiabilityinsureroftheInsured PersonupuntilthisPolicycameintoeffect;and

4.hadtheInsurerbeennotifiedbytheInsured PersonoftheKnown CircumstancewhentheInsured Personfirstknewofit,theInsured PersonwouldhavebeenindemnifiedunderthepolicyinforceatthattimebutisnownotentitledtobecoveredbythatpolicyandtheInsured Personwouldhave(butforClause3.2ofthisPolicy)otherwisebeencoveredbythisPolicy;and

5.neithertheClaimnorKnown CircumstancehavepreviouslybeennotifiedtotheInsurerortoanyotherinsurer.

IftheInsured Personwasentitledtohavegivennoticeunderanyotherpolicyofinsuranceandtherebyhaveanentitlementtoindemnity,inwholeorinpart,thenthisContinuityofCoverextensiondoesnotapplytoprovideindemnityunderthisPolicy.

TheaggregatelimitoftheindemnityprovidedbytheInsurerunderthisprovisionisthelesseravailableunderthetermsofthepolicyinforceattheearliertimereferredtoinparagraph(2)aboveorunderthisPolicy.ThetermsofthisPolicyotherwiseapply.

2.9 New Subsidiaries

WheretheCorporationcreatesoracquiresaSubsidiary CompanyduringthePeriod of Insurance,theInsurerwillprovideindemnityinrespectofanInsured PersonofsuchSubsidiary Company,butonlyinrespectofWrongful ActsactuallyorallegedlycommittedorattemptedfromorafterthetimewhensuchentitybecomesaSubsidiary Company.

Inthecase,however,ofaSubsidiary Companywhoseconsolidatedassetvalueexceeds,asatitslastbalancedateordateofitscreation,20%ofthetotalconsolidatedassetvalueoftheCorporation:

1. NotificationofsuchSubsidiary CompanyshallbegiveninwritingtotheInsurerwithin60daysaftersuchacquisitionorcreation;ifnotificationisnotgiventotheInsurerwithin60daysaftertheacquisitionorcreation,coverwillceaseat4.00p.m.60daysaftertheacquisitionorcreation.

2. TheInsurermayinitsdiscretion,providecoverforsuchSubsidiary Companysubjecttosuchadditionaltermsand/orpremium.

2.10 Run-Off Cover for Subsidiaries

WhereanentityceasedtobeaSubsidiary CompanypriortothecommencementofthePeriod of Insurance,orceasestobeaSubsidiary CompanyduringthePeriod of Insurance,theInsurerwillprovideindemnityinrespectofsuchSubsidiary CompanyanditsInsured PersonsbutonlyinrespectofWrongful ActsprecedingthetimewhensuchentityceasedtobeaSubsidiary Company.

2.11 Preservation of Indemnity

IfanInsured Person isunabletosatisfyarighttoindemnityagainsttheCorporationtowhichheorsheisentitledinrespectofaClaim,byreasononlyoftheCorporationbeingplacedinliquidation(otherthanvoluntaryliquidation)andhavinginsufficientfundsavailablesotoindemnifytheInsured Person,thenitisherebyagreedthattheInsurershallindemnifytheInsured PersoninaccordancewiththisPolicytotheextentthattheInsured PersonisunabletosatisfytherighttoindemnityagainsttheCorporation.

TheburdenofadducingsatisfactoryprooftoobtainthebenefitofthisextensionshallrestentirelywiththeInsured PersonandshallincludetheproductionofdocumentaryevidenceoftheCorporation’sassetsandliabilitiesandanyofficialstatementsissuedbytheliquidator.

2.12 Current Outside Directorships (Non- Profit Organisations)

TheInsurerwillprovideindemnityforOutsideDirectorshipswhichanInsured PersonholdsinanyNon-Profit OrganisationatthecommencementoforduringthePeriod of InsuranceattherequestoftheCorporation providedalwaysthat:

1. Suchindemnitywillnotextendtoanyoftheotherdirectorsorofficers(bywhatevernamecalled)ofthesaidNon-Profit OrganisationwhoarenotalsoInsured PersonsoftheCorporation.

2. NoindemnitywhatsoeverisavailabletothesaidNon-Profit OrganisationunderInsuringAgreementB.

3. ForthepurposeofapplyingExtension2.5 (Insured vs. Insured Cover) tothiscoverandfornootherpurpose,theterm‘Corporation’willbedeemedtoincludethesaidNon-Profit Organisation.

4. CoverunderthisextensionshallapplyinexcessofanysimilarinsuranceheldbysaidNon-Profit Organisation.

5. Coverunderthisextensionshallbenon-cumulativewithanyotherinsuranceissuedbytheInsurer.

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2.13 Limited Prospectus Liability

TheInsurerwillprovideindemnitytoanInsured PersonbyreasonofaWrongful Actforliabilityarisingoutofrightsissues,bonusshareissues,employeeshareoptions,dividendreinvestmentplans,convertiblenotesandredeemablepreferenceissues.Coverisnotprovidedforliabilityarisingoutofaninitialpublicoffering.

2.14 Run-Off Cover For Outside Directorships

TheInsurerwillprovideindemnityforOutside DirectorshipswhichanInsured PersonheldinanyOrganisationorNon-Profit OrganisationandwhichtheInsured PersonceasedorceasestoholdpriortothecommencementoforduringthePeriod of Insurance,providedalwaysthat:

1. TheWrongful Act givingrisetoaClaimoccurredbeforetheInsured Personceasedholdingsuchposition.

2. TheOutside Directorship hadpreviouslybeenorisalreadycoveredbytheInsurerunderpreviouspoliciesorthisPolicy.

3. TheprovisionsunderExtension2.12(Current Outside Directorships (Non-Profit Organisations))orExtension2.17(Current Outside Directorships (other than Non-Profit Organisations)) ofthisPolicywillapplytothisrun-offcover.

2.15 Joint Venture Cover

TheInsurerwillprovideindemnityforInsured PersonsforliabilityarisingfromanyClaiminrespectofanyJoint Venture,providedalwaysthatsuchcoverageshallnotapplytoanyClaimbroughtbyoronbehalfofanyJoint Venturepartner(s)oranyvehicleestablishedtoconduct,controlormanagesuchJoint Venture.

Optional Extensions

Whereindemnityisprovidedundertheseextensions,itshallbeindicatedeitherinItem9ofthescheduleorbysubsequentendorsementtothisPolicy.

OtherthanOptionalExtension2.16,thefollowingOptionalExtensionshallnotoperatetoincreasetheInsurer’slimitofaggregateliabilityasstatedinitem5oftheschedule.

TheInsurerreservestherighttoofferanyofthefollowingextensionsandtoimposeanyspecialconditionsorchargeanyadditionalpremiumasitmayrequire.

2.16 Reinstatement of Aggregate Limit

UpontheInsurerhavingmadeLosspaymentsunderthePolicy uptothelimitofaggregateliabilitystatedinItem5oftheschedule,thelimitofaggregateliabilityshallbereinstatedtothesameamount,providedalways:

1. ThereinstatementshallnotapplytoanexistingClaimonwhichaLoss paymenthasbeenmade,ortoasubsequentClaimbroughtinrespectofanevent,orofaneventrelatedtoanevent,inrespectofwhichaLosspaymenthadbeenmadebytheInsurer underanotherClaimbeforereinstatement.

2. IftheInsured PersonshaveextrainsuranceinexcessofthisPolicy,thenthereinstatementshallnotapplyuntiltheextrainsurancehasbeenexhausted.

2.17 Current Outside Directorships (Other than Non-Profit Organisations)

TheInsurerwillprovideindemnityforOutside DirectorshipswhichanInsured PersonholdsatthecommencementofthePeriod of InsuranceinanyOrganisationstatedinItem9oftheschedule,providedalwaysthattheprovisionsunderExtension2.12(Current Outside Directorships (Non-Profit Organisations))willapplytothisextensionsaveforthechangeinreferencefromNon-Profit OrganisationtoOrganisation.

However,coverisautomaticallyavailableforOutside DirectorshipsenteredintoduringthecurrencyofthisPolicy foraperiodof60daysfromthecommencementofappointmentoftheOutside Directorship.

Forcoverbeyondtheperiodof60days,notificationoftheappointmentistobegiveninwritingtotheInsurer,whichhastherighttoaskforadditionalinformationandtochargeanadditionalpremium.

IfnotificationisnotgiventotheInsurerwithin60daysaftertheappointmentandifanyadditionalinformationand/oradditionalpremiumasrequestedbytheInsurerisnotprovided,coverwillceaseat4.00p.m.60daysaftertheappointment.

2.18 Prospectus Liability - Initial Public Offering

NotwithstandingExclusion3.5(Prospectus Liability),wherethisoptionalextensionapplies,theInsurerwillprovideindemnitytotheInsured PersonsforliabilityarisingoutoftheissueofanyinitialpublicofferingofsecuritiesoftheCorporation.

2.19 USA & Canadian Jurisdiction

NotwithstandingCondition4.17(Territory & Jurisdiction),theInsurerwillprovideindemnityfortheInsured PersonsforliabilityinrespecttoanyClaimfirstbroughtagainsttheInsured Persons inacourtoflawintheUnitedStatesofAmericaorCanadaortheirTerritoriesorProtectorates,orbroughtinacourtoutsidethosecountriesorterritoriestoenforcejudgementhandeddowninacourtwithinthosecountriesorterritorieswhetherbywayorreciprocalagreementorotherwise.

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ProvidedalwaysthatsuchindemnityshallnotapplytoanyClaimorLoss:

1. ArisingfromorbaseduponanyactualorallegedviolationoftheSecuritiesAct1933,theSecuritiesExchangeAct1934,anyrulesorregulationsadoptedthereunder,anylikefederal,stateorprovincialstatuteintheUnitedStatesofAmericaorCanada,regulatingsecuritiessimilartotheforegoing,anyrulesorregulationsadoptedpursuantthereto,orastheymaybeamendedoranyotherstate,provincialorcommonlawoftheUnitedStatesofAmericaorCanadarelatingtosecurities.

2. ArisingfromorbaseduponanyprovisionsoftheEmployeeRetirementIncomeSecurityAct1974andallamendmentstheretoandregulationsconcerningpension,profitssharingoremployeebenefitprogrammesarisingunderfederal,state,locallawsorcommonlaworwhichrelateinanywaythereto.

3. ArisingfromorbaseduponanyactionsorproceedingsordevelopmentsthereofarisingdirectlyorindirectlyfromtheAnti-TrustLawsoftheUnitedStatesofAmericaorCanada.

4. Arisingoutoftheenforcementofjudgements,ordersorawardsobtainedinordeterminedpursuanttothelawsoftheUnitedStatesofAmericaortheDominionofCanada,ortheirTerritoriesorProtectorateswithrespecttoOptionalExtension2.20(EntityCoverforEmploymentPracticesLiability)and/orOptionalExtension2.22(PollutionDefenceCosts).

5. WhichwouldinvolveapaymentunderOptionalExtension2.16(ReinstatementofAggregateLimit).

2.20 Entity Cover for Employment Practices Liability

TheInsurerwillpayonbehalfoftheCorporationthatLosstheCorporationislegallyobligedtopay,asanemployer,byreasonofanyClaimfirstmadeagainsttheCorporationduringthePeriod of InsuranceandnotifiedtotheInsurerduringtheIndemnity Periodfor:

1. discriminationagainstanyemployee,formeremployeeorapplicantforemploymentwhetherbecauseofrace,colour,age,sex,disability,pregnancy,maritalstatus,sexualorientation,sexualpreferenceorotherwise;

2. wrongfuldismissalofanyemployee;

3. workplaceharassment(whethersexualorotherwise)ofanemployee;

4. breachofanimpliedtermofanoralorwrittenemploymentcontract;

5. wrongfuldemotion,failuretopromote,wrongfuldeprivationofcareeropportunity,

wrongfuldiscipline,negligentevaluationorfailuretogranttenureofemploymenttoanemployee;

6. wrongfulrefusaltoemployanapplicant;

7. defamationarisingfromemploymentrelatedmatters;

8. misleadingmisrepresentationoradvertisingastothetermsandconditionsofemployment;or

9. denialofnaturaljusticetoanemployeeconcerningemployment.

Providedalwaysthat:

a. thisextensionissubjecttothedeductiblespecifiedunderItem6(3)oftheschedule.

b. forthepurposeofthisextensionreferenceinthePolicytoanyInsured Personshallbeconstrued,asappropriate,asareferencetotheCorporation.

Forthepurposesofthisextensiononly“deductible”mayincludeaco-insurancepercentageforwhichtheCorporationisliable,subjecttoaminimumdeductible.

ForthepurposesofthisExtensiononly“employee”shallmeanprincipals,partners,directors,officersandemployeesoftheInsured,voluntaryworkers,contractortemporaryworkers.

2.21 Pre-Acquisition Liability

NotwithstandingtheprovisotoSection5.15(Subsidiary Company)ofthisPolicy,theInsurerwillindemnifytheInsured PersonsofanySubsidiary Company statedinItem9ofthescheduleforWrongful ActsprecedingtheacquisitionofthatSubsidiary CompanybytheCorporation.

2.22 Pollution Defence Costs

NotwithstandingExclusion3.9(1),theInsurerwillindemnifytheInsured PersonsforDefence CostsincurredinrespectofanyWrongful Act resultinginLossarisingoutofthedischarge,dispersal,releaseorescapeofpollutants.Themaximumpaymentunderthisextensionshallnotexceed$1millionintheaggregate.CoverisnotprovidedforWrongful ActsoccurringintheUnitedStatesofAmerica,theDominionofCanadaortheirTerritoriesorProtectorates.

2.23 Multi-Year Run-Off after Merger or Consolidation

IftheCorporationmergesorisconsolidatedwithorbecomestheSubsidiary Companyofanothercompany,orsellsallorsubstantiallyallitsassetstoanotherentity,theCorporationandanyInsured PersonshallhavetheoptiontoextendthePeriod of Insuranceupto7yearsimmediatelyfollowingtheexpiryofthePeriod of InsurancebutonlyforanyWrongful Actcommittedorallegedtohavebeencommittedor

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attemptedpriortothedateofsuchsale,merger,orconsolidationprovidedalwaysthattherightoftheextensionisexercisedwithin30daysoftheexpirydateofthe Period of Insurance.

Intheeventthisoptionalextensionisexercised,theCorporationandanyInsured PersonshallnotbeentitledtoanyfurtherextensionbeyondthePeriod of Insuranceundersection2.2(ExtendedReportingPeriod)ofthisPolicy.

Section 3 Exclusions

ThisPolicydoesnotprovideanindemnityforanyLossarisingoutofanyClaim,orforDefence CostsincurredpursuanttoSection2.6:

3.1 Dishonesty & Fraud

broughtaboutby,contributedtobyorwhichinvolves:

1. awilfulbreachofduty,thedishonest,fraudulentormaliciousactoromissionorotheractoromissioncommittedwithcriminalintentofsuchInsured Person;

2. suchInsured Personhavingimproperlybenefitedinfactfromsecuritiestransactionsasaresultofinformationthatwasnotavailabletoothersellersand/orpurchasersofsuchsecurities;or

3. suchInsured Personhavinggainedinfactanypersonaladvantagetowhichhe/shewasnotlegallyentitled.

However,thisexclusionshallonlyapplytotheextentthatthesubjectconducthasbeenestablishedbyanexpressadmission,courtjudgementorotherfinaladjudication.

3.2 Known Claims & Circumstances

1. knownasattheinceptiondateofthisPolicy;or

2. arisingfromaKnown Circumstance

3. directlyorindirectlybasedupon,orattributableto,orinconsequenceofanysuchKnown Circumstance.

3.3 Breach of Professional Duty

arisingfrom:

1. therenderingorfailuretorenderprofessionalservicesand/orprofessionaladvice;or

2. abreachorallegedbreachofanycontractfortheprovisionofprofessionalservicesand/orprofessionaladvice.

3.4 Insured vs Insured

broughtbyoronbehalfoftheCorporationoranyInsured Personortheirestates,heirs,representatives,successorsorassignsagainstanyotherInsured Person.

3.5 Prospectus Liability

arisingfromtheissueofinitialpublicofferingofsecuritiesoftheCorporation.

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3.6 Bodily Injury & Property Damage

arisingfrom:

1. bodilyinjury(exceptemotionaldistressormentalanguish),sickness,diseaseordeathofanyperson;or

2. destructionofordamagetotangibleproperty(includingthelossofusethereof).

3.7 Date Recognition

arisingfromorinrespecttotheuseinanyway:

1.bytheCorporation;or

2.byanysupplier,past,presentorfuture,ofservicesorproductstotheCorporation;

ofanycomputerprogram,softwareproducts,computerdataprocessingequipmentormedia,microchip,programmedlogiccontrollers,integratedcircuitoranyelectronicequipmentwhichfailsto:

a. correctlyrecogniseanydateasitstruecalendardate;or

b.capture,saveorretainand/orcorrectlymanipulate,interpret,orprocessanydata,information,commandorinstructionasaresultoftreatinganydateotherwisethanasitstruecalendardate;or

c.capture,save,retainorcorrectlyprocessanydataasaresultoftheoperationofanycommandwhichhasbeenprogrammedintoanycomputersoftwarebeingacommandwhichcausesalossofdataortheinabilitytocapture,save,retainorcorrectlyprocesssuchdataonorafteranydate;or

d. otherwisefailstocorrectlyoreffectivelyprovideforthechangeofdatewhentheYear1999concludedandtheYear2000commenced.

Further,thispolicydoesnotprovideanindemnityagainstanyClaimmadeagainstanyInsured PersonarisingfromorinrespecttoanydutyowedbysuchInsured PersoninrespectofanyissuerelatedtoYear2000conformityasdefinedintheStandardsAustralia/StandardsNewZealandSAA/SNZMP77document.

NotwithstandinganythingcontainedtothecontraryinExtension2.8ofthisPolicy(ContinuityofCover),theindemnityprovidedbythatExtensionissubjecttothisDateRecognitionExclusion.

3.8 Fines and Penalties

arisingfromorbyreasonofordirectlyorindirectlycausedbyorarisingfromfinesandpenaltiesimposedbylaw,punitive,exemplaryoraggravatedormultipledamages,incometax,customsduties,exciseduty,stampduty,salestaxoranyotherStateorFederaltaxorduty.

3.9 Pollution, Nuclear Risks, War & Terrorism

arisingdirectlyorindirectlyfromorcausedbyorcontributedtoby,orhappeningthroughorinconnectionwith:

1.Pollutionorcontaminationhowsoeverandwheresoeveroccurring.ForthepurposeofthisPolicy,thetermPollutionshallhavethemeaningascribedtoitintheProtectionoftheEnvironmentOperationsAct1997No156(NSW).

2.Atomicenergyoperationsemployingtheprocessofnuclearfissionorfusionorhandlingradioactivematerialwhichoperationsincludebutarenotlimitedto:

a.theuseofnuclearreactorssuchasatomicpiles,particleacceleratorsorgeneratorsorsimilardevices;or

b. theuse,handlingortransportationofradioactivematerials;or

c.theusehandlingortransportationofanyweaponofwarorexplosivedeviceemployingnuclearfissionorfusion.

ProvidedalwaysthatthisExclusionshallnotapplytoanyClaimarisingfromradio-isotopesorradiumorradiumcompoundswhenusedawayfromtheplacewheresucharemadeorproducedandwhenusedexclusivelyincidentaltoordinaryindustrial,educational,medicalorresearchpursuits.

3.War,invasion,actsofforeignenemies,hostilities(whetherwarbedeclaredornot),civilwar,rebellion,revolution,insurrectionormilitaryorusurpedpowerorconfiscationornationalisationorrequisitionordestructionofordamagetopropertybyorundertheorderofanyGovernmentorPublicorLocalAuthority,excepttotheextentthatsuchanorderarisesasaresultofanyWrongfulActcommittedbyanyInsuredPerson.

4. a. anyactofTerrorismregardlessofanyothercauseoreventcontributingconcurrentlyorinanyothersequencetotheloss,damage,illness,injury,death,costorexpense.

b. anyactionincontrolling,preventing,suppressing,retaliatingagainst,orrespondingtoanyactofTerrorism.

3.10 Asbestos

whichwouldnothavearisenbutfortheexistenceofasbestos.

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3.11 Additional Exclusions applying to Extension 2.5(1) (Insured vs Insured Cover) and Extension 2.20 (Entity Cover for Employment Practices Liability)

madeunderExtension2.5(1)(InsuredvsInsuredCover)andExtension2.20(EntityCoverforEmploymentPracticesLiability):

1. Unfair Contracts

Fororinrespectof:

a. Acontractofemploymentallegedtobeunfair.

b. TheseekingofreliefpursuanttoSection127AoftheWorkplaceRelationsAct(Commonwealth)orSection106oftheIndustrialRelationsAct(NSW)1996orSection276oftheIndustrialRelationsAct(Queensland)1999orsimilarlegislationintheotherstatesorterritoriesoftheCommonwealthofAustraliaorinNewZealand.

2. Workers’ Compensation

InrelationtoanyWorkers’CompensationorOccupationalHealthandSafetyActsorsimilarlegislation.

3. Physical Modification

Forthecostofphysicalmodificationstopremises,plantorequipmentownedoroccupiedbytheCorporation.

4. Industrial Disputes

Broughtaboutby,contributedtobyorwhichinvolvesindustrialdisputes(whetherbetweentheCorporationortheInsured Personsorbetweenemployeesortheirunionorgenerally),strike,picket,lockout,gosloworworktorule.

Section 4 General Conditions

4.1 Authorisation Clause

ByacceptanceofthisPolicy,theCorporationnamedinItem1ofthescheduleagreestoactonbehalfoftheInsured Personswithrespecttothegivingandreceivingofnoticeofcancellation,thepaymentofpremiumsandthereceivingofanyreturnpremiumsthatmaybecomedueunderthisPolicyandtheacceptanceofendorsementsorothernoticeprovidedforinthisPolicyandtheInsured PersonsandeachofthemagreethattheCorporationshallactontheirbehalf.

4.2 Severability & Non-Imputation

ForthesakeofdeterminingcoverunderthisPolicy:

1. ThewrittenproposalshallbeconstruedtobeaseparateapplicationforcoverbyeachoftheInsured PersonsandnostatementorrepresentationinorwithrespecttotheproposalbyanInsured PersonshallbeimputedtoanyotherInsured Person.

2. ThisPolicyshall,subjecttoGeneralCondition4.10(Non-Accumulation),beconstruedtobeaseparatepolicybetweentheInsurerandeachInsured PersonandnobreachofanytermorconditionofthisPolicyorothermisconductbyanyInsured PersonshallbeimputedtoanyotherInsured Person.

3. NofactorknowledgepossessedbyoneInsured PersonshallbeimputedtoanyotherInsured Person.

4.3 Merger or Consolidation

WheretheCorporationmergesorisconsolidatedwithorbecomestheSubsidiaryCompanyofanothercompanyorentityduringthePeriod of Insurance,theInsurerwillcontinuetoprovideindemnityinrespectoftheCorporation,itsSubsidiary CompaniesandtheirInsured Persons,butonlyinrespectofWrongful Actsprecedingthetimeofsuchmerger,consolidationoracquisition.

4.4 Claims Co-operation

TheInsured PersonsshalluseduediligenceanddoandconcurindoingallthingsreasonablypracticabletoavoidordiminishanyLosshereunder,andshallimmediatelygiveallsuchinformationandassistancetotheInsurerasitmayreasonablyrequiretoenableittoinvestigateandtodefendtheClaimand/ortoenabletheInsurertodetermineitsliabilityunderthisPolicy.

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TheInsurermay,onrequestfromtheInsuredPersonsforindemnityunderthisPolicy,takewhateveractionthatitconsidersappropriatetoprotectthe Insured Persons’positioninrespectoftheClaimandsuchactionbytheInsurershallnotberegardedasinanywayprejudicingitspositionunderthisPolicyandnoadmissionoftheInsured Persons’entitlementtoindemnityunderthisPolicyshallbeimplied.

4.5 Allocation

IfaClaimiscoveredonlypartlybythisPolicy,andthepartiesareunabletoagreeuponanallocationoftheClaim,andDefence Costs,betweeninsuredanduninsuredportions,theallocationshallbereferredfordeterminationtoaQueen’sCounselorSeniorCounsel(tobeagreeduponorindefaultofagreementtobenominatedbytheChairorPresidentofthelocalBarCouncil)whosedeterminationshallbebindinguponthepartiesandwhosefeeshallforthepurposeofthisPolicyberegardedaspartoftheDefence Costs.Theallocationshallapplyalsotopaymentsmadebeforethedetermination.

4.6 Court Jurisdiction

ItisfurtherunderstoodthatthisPolicyshallbegovernedbythelawoftheStateorTerritorywherethisPolicywasissuedandwhosecourtsshallhavejurisdictioninanydisputearisingunderorinconnectionwithorinrespectoftheprovisionsofindemnityunderthisPolicy.Forthepurposeofthiscondition,theplaceofissuestatedinItem12ofthescheduleshallbeconclusive.

4.7 Deductibles

TheamountofrelevantdeductiblestatedinItem6ofthescheduleshallbeappliedtoeachandeveryClaimbroughtunderInsuringAgreementAorInsuringAgreementBofthisPolicy.

WherethesameWrongful ActresultsinmorethanoneClaimbeingmadeagainsttheInsured Person/CorporationthenonlyonedeductibleshallapplytoanysuchClaimcoveredbythisPolicy.IntheeventofaClaimbeingbasedonseparate,differentormultipleWrongful Acts,thentherelevantdeductibleshallapplyinrespectofeachWrongful Act.

4.8 Aggregate Liability

TheInsurershallonlybeliabletoprovideindemnitytotheextentoftheamountofthelimitofaggregateliabilitystatedinItem5oftheschedule.

AnyLossarisingoutofallinterrelatedWrongful Acts ofanyInsured PersonshallbedeemedoneLossandsuchLoss shallbedeemedtohaveoriginatedintheearliestPeriod of InsuranceinwhichaClaimismadeagainstanyInsured PersonbyreasonofanyWrongful Act.

AnycostsincurredbytheInsurerininvestigatinganyfact,situationorcircumstancewhichmaygiverisetoaClaimshallbedeemedforallpurposesofthePolicy tobeDefence CostsincurredunderthePolicy.

AnyamountpaidbytheInsurerinsettlementofadisputewhichmayotherwisebecomeaClaim,shallbedeemedforallpurposesofthePolicytobeaLossincurredunderthePolicy.

4.9 Paragraph Headings

TheparagraphheadingsinthisPolicyareincludedforthepurposeofreferenceonlyanddonotformpartofthisPolicyforinterpretationpurposes.

4.10 Non-Accumulation

TheinclusioninthisPolicyofmorethanone(1)Insured PersonshallnotoperatetoincreasetheInsurer’slimitofaggregateliabilitystatedinItem5oftheschedule.

4.11 Notice

AnynoticerequiredtobegivenunderthisPolicytotheInsurershallbevalidlyandlawfullygivenifitisgiventotheInsurerinwritingattheaddressortothefacsimilenumberstatedinItem11oftheschedule.

4.12 Confidentiality

NeitheranInsured PersonnortheCorporationshalldisclosethenatureoftheliabilitiescoveredbythisPolicynorthepremiumspecifiedinthePolicy,unlessrequiredbylaw.

4.13 Gender & Number

Exceptwherethecontextotherwiserequiresit,wordsimportingagenderincludeeveryothergender,wordsinthesingularshallincludethepluralandwordsinthepluralshallincludethesingular.

4.14 Senior Counsel Clause

NeitheranInsured PersonnortheInsurershallberequiredtocontestanylegalproceedingsunlessaQueen’sCounselorSeniorCounsel(mutuallyagreeduponbytheInsured PersonandtheInsurerorindefaultofsuchagreement,selectedbytheChairPersonorPresidentofthelocalBarCouncil)shalladvisethatsuchproceedingsshouldbecontested.Informulatinghisorheradvice,Counselshalltakeintoconsiderationtheeconomicsofthematter,havingregardtothedamagesandcostswhicharelikelytoberecoveredbytheplaintiff,thelikelyDefence Costs andtheprospectsoftheInsured Personsuccessfullydefendingtheaction.

ThecostsofsuchCounsel‘sopinionshall,forthepurposeofthisPolicy,beregardedaspartoftheDefence Costs.IntheeventthatCounseladvises

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that,havingregardtoallthecircumstances,themattershouldnotbecontestedbutshouldbesettled,providingsettlementcanbeachievedwithincertainlimitswhich,inCounsel'sopinion,arereasonable,thentheInsured Personshallnotobjecttoanysuchsettlementandshallco-operatewiththeInsurertoeffectsuchsettlementinaccordancewiththisPolicy.

4.15 Settlement Procedure

SubjectotherwisetotheprovisionsoftheInsuranceContractsAct1984theInsured Personsshall,asaconditionprecedenttotherighttobeindemnifiedunderthisPolicy,notadmitliabilityfororsettleanyClaimorincuranycostsorexpensesinconnectiontherewithorenterintosettlementwithoutthewrittenconsentoftheInsurerwhoshallbeentitledtoatanytimetotakeoverandconductinthenameoftheInsured PersonthedefenceorsettlementofanyClaim.However,iftheInsured PersonshallrefusetoconsenttoanysettlementrecommendedbytheInsurer andshallelecttocontestorcontinueanylegalproceedingsinconnectiontherewith,theInsurer‘s liabilityfortheClaimshallnotexceedtheamountforwhichtheClaimcouldhavebeensosettledplustheDefence Costsincurreduptothedateofsuchrefusal.

4.16 Subrogation

IntheeventofanypaymentbytheInsurerforaLossunderthisPolicy,the InsurershallbesubrogatedtotheextentofsuchpaymentofallrightsofanInsured Person‘srecoverythereofandtheInsured PersonshallexecuteallpapersrequiredanddoeverythingthatmaybenecessarytoenabletheInsurereffectivelytobringsuitinthenameoftheInsured PersonexceptthatallrightofsubrogationunderthisPolicyiswaivedagainst:

1. theCorporationunlessindemnityisgrantedunderExtension2.11(Preservation of Indemnity)ofthisPolicy;

2. anyInsured PersontowhomprotectionisaffordedunderthisPolicy.

Providedalwaysthat:

a. ifsuchInsured PersonisprotectedfromsuchLossbyanyothercollectablepolicyofinsurance,therightofsubrogationisnotwaivedtotheextentanduptotheamountofsuchotherpolicy;

b. theInsurer doesnotwaiveanyrightofrecoveryofanydeductiblestatedinItem6ofthescheduleasappliedinaccordancewiththiscondition.

4.17 Territory and Jurisdiction

1. TheindemnityprovidedbythisPolicyextendstoWrongful Actsoccurringanywhereintheworld.

2 TheindemnityprovidedbythisPolicyextendstoClaimsmadeanywhereintheworld,except:

a. actionsbroughtinordeterminedpursuanttothelawof,theUnitedStatesofAmericaortheDominionofCanada,ortheirTerritoriesorProtectorates;or

b. anyClaimarisingoutoftheenforcementofjudgements,ordersorawardsobtainedinordeterminedpursuanttothelawsoftheUnitedStatesofAmericaortheDominionofCanada,ortheirTerritoriesorProtectorates.

4.18 Other Insurance

SubjecttotheInsuranceContractsAct1984,whereanInsured PersonisentitledtoindemnitypursuanttoaseparatepolicyofinsurancemorespecificallyprovidingcoverinrespectoftheClaim,thisPolicydoesnotrespondexcepttotheextentthattheInsuredPerson‘sliabilityforanyClaimexceedstheamountofcoverundersuchotherPolicy.

4.19 Cancellation

1. The Corporation Can Cancel the Policy

TheCorporationisentitledtocancelthisPolicyfromthedatetheInsurerreceivesawrittenrequesttocancelthePolicy,providedthatanysuchcancellationissubjecttothefollowingterms.TheInsurerwillbeentitledtoretainpremiumforpro-rata“timeonrisk”plusanadministrationchargecalculatedat12.5%ofthepro-ratareturnpremium,subjecttoaminimumadministrationchargeof$250plusGST.(Notestampdutyformidtermcancellationisnotrefundableinsomestates).

2. The Insurer can cancel the Policy

a.underSection60oftheInsuranceContractsAct1984,theInsurermaycancelthisPolicyatanytimebygivingnoticeinwritingtotheCorporationofthedatefromwhichcancellationistotakeeffectwheretheCorporationhas:

i. failedtocomplywiththedutyofutmostgoodfaith;or

ii. failedtocomplywiththedutyofdisclosureatthetimewhenthisPolicywasenteredinto,varied,altered,orrenewed;or

iii. madeamisrepresentationtotheInsurerduringthenegotiationsforthisPolicy,butbeforetheInsureragreedtoissuethisPolicy;or

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iv. failedtocomplywithaprovisionofthePolicy;or

v. failedtopaythepremiumforthisPolicy;or

vi. madeafraudulentclaimunderthisPolicy;oranyothercontractofinsurance(whetherwiththeInsureroranotherinsurer)thatprovidedcoverduringanypartofthePeriod of InsuranceofthisPolicy;or

vii.failedtocomplywitharequirementinthisPolicytonotifyofanactoromissionwhichoccurredafterthisPolicywasenteredinto;or

viii.failedtonotifyInsurerofanyspecificactoromissionorsuchnotificationasrequiredunderthetermsofthisinsurancePolicy.

b. underSection60oftheInsuranceContractsAct1984,theInsurermaycancelthisPolicyatanytimewhere:

i. itisinforcebyvirtueofSection58oftheInsuranceContractsAct1984;or

ii. itisaninterimcontractofgeneralinsurance.

c. aftercancellationpursuanttoClause4.19,theInsurerwillrefundthepremiumforthetimeremainingonthePolicy,lessanynonrefundableduties,unlesstheCorporationoranInsured Person hasmadeafraudulentclaimunderthePolicy.

4.20 Legal Enforceability

ForthisPolicytobelegallyenforceable,itmustincludeaschedulethathasbeenappropriatelysignedbyanofficeroftheInsurer.

4.21 Goods and Services Tax

WheretheInsurermakesapaymentunderthisPolicyfortheacquisitionofgoods,servicesorothersupplytheInsurerwillreducetheamountofthepaymentbytheamountofanyinputtaxcredittheCorporationis,orwillbe,orwouldhavebeenentitledtounderANewTaxSystem(GoodsandServicesTax)Act1999,inrelationtothatacquisition,whetherornotthatacquisitionisactuallymade.

WheretheInsurermakesapaymentunderthisPolicyascompensationinsteadofpaymentfortheacquisitionofgoods,servicesorothersupply,theInsurerwillreducetheamountofpaymentbytheamountofanyinputtaxcreditthattheCorporationwouldhavebeenentitledtounderANewTaxSystem(GoodsandServicesTax)Act1999hadthepaymentbeenappliedtoacquiresuchgoods,servicesorothersupply.

Section 5 Definitions

WheneverappearinginthisPolicyinboldtype andwithaCapitalLetter,thefollowingtermsshallbeinterpretedonlyinthemannerdescribedbelow.ThesewordsmayappearwithoutboldtypeinendorsementsonthePolicyschedule.

5.1 Claim meansanywrit,summons,applicationorotheroriginatinglegal(criminal,civilorotherwise)orarbitralproceedings,crossclaimorcounter-claimalleginganyWrongful Act orproceedingsreferredtoinExtension2.6,whichisbothissuedagainstandserveduponanyInsured PersonwhoisentitledtoindemnityunderthisPolicy.

5.2 Corporation meanstheCorporationstatedinItem1ofthescheduleandshallbedeemedtoincludeallitsSubsidiary Companies.

5.3 Defence Costs meansallreasonablecosts,chargesandexpenses(otherthanregularorovertimewages,salariesorfeesofany Insured Person)incurredwiththepriorwrittenconsentoftheInsurerindefendinganyClaimorincurredpursuanttoExtension2.6.

5.4 Insured Person means:

1. anynaturalpersonwhowasornowisormayhereafterbecomeadirector,secretary,executiveofficeroremployeeoftheCorporationbywhatevernamecalledandwhetherornotvalidlyappointedtooccupyordulyauthorisedtoactinsuchposition;or

2. anynaturalpersonwhobyvirtueofanyapplicablelegislation,isdeemedtobeadirector,secretary,executiveofficeroremployeeoftheCorporation.

Insured Persondoesnotmeanaliquidator,externalauditor,receiver,receiverandmanager,officialmanager,administrator,trusteeorpersonadministeringacompromiseorschemeofarrangementoftheCorporationoranyemployeeofsuchperson;oranycompany,entityorotherbodycorporateortrustee,directors,officers,oremployeesofsuperannuationorpensionorganisation.

5.5 Insurer meansCGUProfessionalRisksInsurance,adivisionofCGUInsuranceLimitedABN27004478371.

5.6 Indemnity Period meansthePeriod of InsuranceandtheExtendedReportingPeriodifExtension2.2(Extended Reporting Period)isinforce.

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5.7 Joint Venture meansanyunincorporatedenterpriseundertakenjointlybytheCorporationwithathirdpartyorparties.

5.8 Known Circumstancemeansanyfact,situationorcircumstancewhich:

1. any Insured PersonwasawareofpriortothisPolicyinception;or

2. areasonableInsured PersonwouldhaveconsideredatanytimepriortothePeriod of Insurance

mightresultinsomeonemakinganallegationagainstan Insured PersoninrespectofaLossthatmightbecoveredunderthisPolicy.

5.9 Loss meansDefence CostsandanyotheramountpayableinrespectofaClaimincludingdamages,judgments,settlementsandinterest.

InrespectofExtensions2.5(InsuredvsInsuredCover)and2.20(EntityCoverforEmploymentPracticesLiability)thisPolicywillincludeback-paywherereinstatementofanemployeebyacourtisorderedbutexcludesanyamountwhichtheCorporationisorwasrequiredtopaypursuanttoaspecificobligationimposedunderacontractofemployment,employmentagreement,statute,awardorotherwise.

5.10 Non-Profit Organisation meansanycompany,entity,body,committee,council,club,association,trustorotherenterprisewhetherincorporatedorunincorporatedthatisexemptfromthepaymentofincometaxunderStateorFederallawandisnotaSubsidiary Company.

5.11 Organisation meansanycompany,entity,body,committee,council,club,association,trustorotherenterprise,whetherincorporatedorunincorporated,providedthatitisnotaSubsidiary Company.

5.12 Outside Directorship meansthepositionofdirector,officer,secretary,trusteeorequivalentpositionheldbyanInsured PersoninanOrganisationorNon-Profit OrganisationattherequestordirectionoftheCorporation.

5.13 Period of Insurance meansthePeriod of InsurancestatedinItem4oftheschedule.

5.14 Policy means:

1. Alltheterms,conditions,definitions,exclusionsandlimitationscontainedherein.

2. Theschedule.

3. AnyendorsementsattachingtoandformingpartofthisPolicy,eitheratinceptionorduringtheIndemnity Period.

5.15 Subsidiary Company meansanycompanyorotherincorporatedentitywhichattheinceptionofthePeriod of InsurancebyvirtueofAustralianlawwasoris,eitherdirectlyorindirectlyasubsidiaryoftheCorporation.

ProvidedalwaysthattheaccountsofanySubsidiary CompanyareconsolidatedintothoseoftheCorporationinaccordancewiththerelevantaccountingstandard.

5.16Terrorismmeansanyact,orpreparationinrespectofaction,orthreatofactiondesignedtoinfluencethegovernmentdejureordefactoofanynationoranypoliticaldivisionthereof,orinpursuitofpolitical,religious,ideological,orsimilarpurposestointimidatethepublicorasectionofthepublicofanynationbyanypersonorgroup(s)ofpersonswhetheractingaloneoronbehalfoforinconnectionwithanyorganisation(s)orgovernment(s)dejureordefacto,andwhich:

1. involvesviolenceagainstoneormorepersons;or

2. involvesdamagetoproperty;or

3. endangerslifeotherthanthatofthepersoncommittingtheaction;or

4. createsarisktohealthorsafetyofthepublicorasectionofthepublic;or

5. isdesignedtointerferewithortodisruptanelectronicsystem.

5.17 Wrongful Act meansanyactualorallegedbreachofduty,breachoftrust,neglect,error,misstatement,misleadingstatement,omission,breachofwarrantyofauthorityorotheractdoneorattemptedbyoranyothermatterclaimedagainstanyInsured PersonoranyofthemwhereverorwheneverwhileactingintheirindividualorcollectivecapacitiesasanInsured Person.

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Section 6 The way we handle your personal information

Wecollectpersonalinformationfromyouforthepurposeofprovidingyouwithinsuranceproducts,services,processingandassessingclaims.

Youcanchoosenottoprovidethisinformation,however,wemaynotbeabletoprocessyourrequests.

Wemaydiscloseinformationweholdaboutyoutootherinsurers,aninsurancereferenceserviceorasrequiredbylaw.Intheeventofaclaim,wemaydiscloseinformationtoand/orcollectadditionalinformationaboutyoufrominvestigatorsorlegaladvisers.

Ifyouwishtoupdateoraccesstheinformationweholdaboutyou,contactus.

General Insurance Code of Practice

CGUInsuranceproudlysupportstheGeneralInsuranceCodeofPractice.

ThepurposeoftheCodeistoraisestandardsofpracticeandserviceinthegeneralinsuranceindustry.

The objectives of the Code are:

topromotebetter,moreinformedrelationsbetweeninsurersandtheircustomers;

toimproveconsumerconfidenceinthegeneralinsuranceindustry;

toprovidebettermechanismsfortheresolutionofcomplaintsanddisputesbetweeninsurersandtheircustomers;and

tocommitinsurersandtheprofessionalstheyrelyupontohigherstandardsofcustomerservice.

BrochuresontheCodeareavailablefromyournearestCGUoffice.

CGU DO 5/06

Our service commitment

CGUInsuranceisproudofitsservicestandardsandsupportstheGeneralInsuranceCodeofPractice.Inanunlikelyeventthatyouarenotsatisfiedwiththewayinwhichwehavedealtwithyou,aspartofourcommitmenttocustomerservice,wehaveaninternaldisputeresolutionprocessinplacetodealwithanycomplaintyoumayhave.

PleasecontactyournearestCGUInsuranceofficeifyouhaveacomplaint,includingifyouarenotsatisfiedwithanyofthefollowing:

◆ oneofourproducts;

◆ ourservice;

◆ theserviceofourauthorisedrepresentatives,lossadjustersorinvestigators;or

◆ ourdecisiononyourclaim.

Ourstaffwillhelpyouinanywaytheycan.Iftheyareunabletosatisfyyourconcerns,theywillreferthemattertotheirsupervisorormanager.Ifthemanagercannotresolvethematter,themanagerwillescalatethemattertoourInternalDisputeResolutionDepartment.

BrochuresoutliningourinternaldisputeresolutionprocessareavailablefromyournearestCGUInsuranceoffice.

Intermediary Remuneration

CGUInsuranceLimitedpaysremunerationtoinsuranceintermediarieswhenweissue,reneworvaryapolicytheintermediaryhasarrangedorreferredtous.Thetypeandamountofremunerationvariesandmayincludecommissionandotherpayments.Ifyourequiremoreinformationaboutremunerationwemaypayyourintermediaryyoushouldaskyourintermediary.

Notes

P0021 REV9 12/10

contact details

Adelaide80 Flinders Street Adelaide SA 5000 Tel (08) 8425 6650 Fax (08) 8425 6592

Brisbane189 Grey Street South Brisbane QLD 4101 Tel (07) 3135 1566 Fax (07) 3135 1564

Melbourne181 William Street Melbourne VIC 3000 Tel (03) 9601 8700 Fax (03) 9602 5255

Perth46 Colin Street West Perth WA 6005 Tel (08) 9254 3750 Fax (08) 9254 3751

Sydney388 George Street Sydney NSW 2000 Tel (02) 8224 4655 Fax (02) 8224 4030

cgu.com.au/professionalrisks

CGU DO 5/06

CGU Professional RisksInsurer CGU Insurance Limited ABN 27 004 478 371