KIT Finance Insurance (JSC). Agreement for Package Insurance.
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AGREEMENT No. 523-78-000002-10 for Package Insurance
Saint Petersburg city
November 2,
2010
KIT Finance Insurance (JSC), License of the Federal Insurance Supervisory Authority S No. 1675 78 dated May 25, 2006, hereinafter referred to as the Underwriter, in the person of the Deputy Director General, Potitov Alexander Gennadyevich, acting on the grounds of the Power of Attorney No. 004/10 dated January 1, 2010, on one part, and the Company BroCo Investments Inc., hereinafter referred to as the Insurant, in the person of the Director, Valeriy Maltsev, acting on the grounds of the Statutes, on the other part, have concluded the present Agreement as follows: 1. SUBJECT OF THE AGREEMENT. 1.1. Under the present Agreement, the Underwriter shall, for the fee (insurance premium) specified in the present Agreement, upon occurrence of the event (insured event) provided for herein, to compensate any damages caused by this event in the insured property or damages related to the Insurant’s other property interests (to pay insurance compensation) to the Insurant or any other person in favor of which the present Agreement has been concluded (the Beneficiary), to the extent of the amount specified hereby (amount of insurance). 1.2. Under the present Agreement, the Insurant’s property interests related to the Insurant’s loss of income (additional expenses) which the Insurant could incur in consequence of its activities as well as the risk of loss of the Insurant’s property (monetary funds) shall be insured.
2. INSURED RISKS. 2.1. The insurance shall cover: 2.1.1. The Insurant’s damages resulting from any intended unlawful acts established in an effective court verdict, committed by any member of the Insurant, whether single-handed or conspired with any other persons, with a view to inflict harm to the Insurant or acquire unlawful financial profits, from: - commercial operations (any operations related to purchase and sale of securities, metals and other exchange tradable goods, futures, options, currency etc.). In the context hereof, members are considered to be: - persons working in the premises owned by the Insurant, obtaining salaries for labor and subordinate to the Insurant during the entire term of performance of this work; - the Insurant’s managing officers who are members of the board of directors/other collegial executive body of the Insurant and employed for the period when they carry out their employment duties, in the premises owned by the Insurant; - persons doing practical training in any premises owned by the Insurant; - temporary (dual jobholders/seasonable workers/those working for less than two months) employees of the Insurant, except for those whose work is related to processing of electronic data, programming, software and other similar activity. 2.1.2. Damages caused by forgery (fraud including forgery of documents) proved by an effective court verdict: а) forgery of certificates of deposit (any other documents issued by the Insurant, supporting the acceptance of money on deposit); б) counterfeit of any proxy for withdrawal of money. The damage shall be compensated to the Insurant only provided that: - the appropriate payment documents were executed in hard copy. 2.2. All cases of damages incurred by the Insurant whether in consequence of intended acts or because of a person’s negligence, whether or not this person is the member of the Insurant, shall be cumulatively considered to be one damage. 2.3. An insured event shall be deemed to have occurred not earlier than the effective date of the court verdict establishing the culpability of the appropriate persons in the crimes specified in Clauses 2.1.1-2.1.2 hereof, and equally the causal connection between such criminal acts and damages incurred by the Insurant.
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(Signature) |signature| Page 1. Total pages: 8 KIT Finance Insurance (JSC) Licence C №1675 78