YACHT-POOL CONDITIONS OF THE THIRD PARTY LIABILITY INSURANCE FOR REGATTA CLASSES RC01

YACHT-POOL CONDITIONS OF THE THIRD PARTY LIABILITY INSURANCE FOR REGATTA CLASSES RC01 1. RISK DESCRIPTION The YACHT-POOL conditions for the third party liability insurance are based upon the General and Supplementary General Terms and Conditions of Liability Insurance (AHVB 2005 and EHVB 2005 for EU citizen or AHB for non EU citizen) Insured is the regatta skipper for the third party liabilities concerning damages caused to third parties by using a boat and are supplemented by the following terms and conditions. Insured are only the choosed regatta class, which are written in the policy. Insured is the regatta race and the training for the regatta on waters. 2. SPECIAL CONDITIONS 2.1 Damages abroad The legal liability from accidents according to the area of the regatta is included in the insurance policy. The reimbursement for damages will be paid in EURO. The insurer's obligation is considered to be fulfilled in the moment when the amount in the above mentioned currency is assigned to the bank, which has been communicate to us.. 2.2 In case of temporary confiscation of the boat or yacht, the necessary bail is the cost of the policyholder, if not earlier agreed in other way. 3. Water pollution damage 3.1 Those damages are insured by encirclement of the agreed defrayment at which the property damages are processed as material damages. The legal compulsory liability of the policy-holder for direct and indirect consequences of the physical, chemical and biological changes of the water quality is insured. The underground waters pollution with following exception of: 3.2 Feeding or bringing in hazard materials into water and conscious acting on the waters are not insured. This is also not insured if feeding or bringing in of the hazardous materials is done with the purpose of rescuing other legal assets. 1 CONDITIONS ON THE THIRD PARTY LIABILITY INSURANCE

3.3 Dripping or leakage of the oil or other liquids from the tank caused by motor operation, appliances for filling up or any engine facilities of the boat is not insured. 3.4 If the policy-holder or co-policy-holder has caused any damage not complying to the law, regulations and authority orders for the water protection, those damage reimbursement claims will be excluded. 3.5 The claims for the payment of damage which comes out of direct or indirect war circumstances, other enemy acts, mutinies, inland riots, general strikes or directly from the decisions and measures of the higher state authorities are excluded. 3.6 Damages caused by or connected to any act of terrorism, directly or indirectly, no matter of the presence of any other cause that has simultaneously or consequently contributed to the loss, damage or cost is excluded. 4. Signal gun The damages caused by the use of the signal gun on the boat are insured. 5. NOT INSURED 5.1 The liability for damages caused by the water-skiers and parachute fliers. 5.2 The compulsory liability for the damages that occur during the participation in the motor boat races or test driving connected to such races. Insured are ragattas with sailing boats. 5.3 Clause on the boat leader permission If there is a legal obligation to possess the permission to drive a boat and the person leading a boat does not have one at the time of the accident, the insurer is free of any liability. In case that the insurer could have supposed the existence of a permission the insurer is not free of its responsibility. 5.4 Damages caused by collision or navigation fault In case the damage has been caused by collision or navigation fault and another insurance has paid / will pay, the regatta insurance is free of charge. 5.5 Regattas in Australia, Canada, U.S.A and New Zealand are not insured. On request it can be insured and has to be agreed by YACHT-POOL in written form. 6. Deductible Deductible is 150,- per claim/event. 7. Subsidiary Other existing insurance policies, particularly water-sports liability policies, take precedence over this one. 8. Jurisdiction For non-eu citizens: Jurisdiction is Munich/Germany. German law applies and the German insurance contract law. The basis for our insurance cover is the general insurance conditions in Germany: 2 CONDITIONS ON THE THIRD PARTY LIABILITY INSURANCE

- AHB for the professional skippers liability insurance - AUB for the skippers accident insurance - and the VVG For EU citizens: Jurisdiction is Salzburg/Austria. Austrian law applies and the Austrian insurance contract law. The basis for our insurance cover is the general insurance conditions in Austria: - AHVB/EHVB for the professional skippers liability insurance - AUVB for the skippers accident insurance and the VersVG 9. Obligations An accident should be reported immediately by phone to YACHT-POOL: tel/fax: 49 89 7467 3490 or mail info@yacht-pool.com and in written form in the reasonable period of time. 9.1 When a damage occurs it is necessary to collect the following: a) the notification of the naval accident at the port authority with the accident description, b) cause of the accident and the damage description the rough draft of the accident c) names and addresses of all involved persons d) names and the addresses of the accident witnesses e) the address and the police document number f) the original invoices and payment receipts etc. g) the estimated value of damage. 9.2 In case of collision: 9.2.1 the collision participant should be persuaded to make a common notification of the marine accident and a written description of the accident 9.2.2 the collision participant should admit why he thinks to be guilty. 9.2.3 When the damage was caused by fire, explosion, breaking in or theft the nearest police station should be informed and a written report on the damage should be required. 9.2.4 The selling of the damaged and insured objects before the damage regulation, without a permission given by the insurer, is forbidden. 9.2.5 It is necessary to comply with the regulations of the maritime law of the country in which the damage has occurred. 3 CONDITIONS ON THE THIRD PARTY LIABILITY INSURANCE

YACHT-POOL CONDITIONS ON THE PARTIALLY HULL INSURANCE FOR REGATTA CLASSES RC01 1. RISK DESCRIPTION YACHT-POOL insures the boat against: a) all risks of theft b) total loss of the boat c) total loss of a rig 2. Deductible No deductible. 3. NOT INSURED Any other damages like in point 1 mentioned are not insured. That means that for example sails are not insured and also not cosmetic damages or usual wear and tear. 4. Jurisdiction For non-eu citizens: Jurisdiction is Munich/Germany. German law applies and the German insurance contract law. The basis for our insurance cover is the general insurance conditions in Germany: - AHB for the professional skippers liability insurance - AUB for the skippers accident insurance - and the VVG For EU citizens: Jurisdiction is Salzburg/Austria. Austrian law applies and the Austrian insurance contract law. The basis for our insurance cover is the general insurance conditions in Austria: - AHVB/EHVB for the professional skippers liability insurance - AUVB for the skippers accident insurance and the VersVG 5. Obligations An accident should be reported immediately by phone to YACHT-POOL: tel/fax: 49 89 7467 3490 or mail info@yacht-pool.com and in written form in the reasonable period of time. 5.1 In case your yacht needs to be rescued by other boats please agree the amount of reimbursement in advance, before the rescuing starts. The agreement must be in written form and must include the clause: NO CURE NO PAY (without the successfull rescuing there will be no payment followed). 1 CONDITIONS ON THE HULL INSURANCE

5.2 In case of towing: hand over your rope and avoid if possible taking over the rope of the tow-service. 5.3 Try to prevent any further damages. 5.4 When a damage occurs it is necessary to collect the following: a) the notification of the naval accident at the port authority with the accident description, b) cause of the accident and the damage description the rough draft of the accident c) names and addresses of all involved persons d) names and the addresses of the accident witnesses e) the address and the police document number f) the original invoices and payment receipts etc. g) the estimated value of damage. 5.5 In case of collision: 5.5.1 the collision participant should be persuaded to make a common notification of the marine accident and a written description of the accident 5.5.2 the collision participant should admit why he thinks to be guilty. 5.5.3 In case of damage made during transport: a) collect the shipping documents, delivery orders etc. b) the written authority given by the owner (from the transport contract) to the accident commissioner/inspector 5.5.4 the carrier s statement on the manner and conditions of transport before the damage occurred; when the carrier is the railway the official railway authority statement should be collected; when the transport is done by truck the driver s statement and carrier s opinion should be collected too. 5.5.5 When the damage was caused by fire, explosion, breaking in or theft the nearest police station should be informed and a written report on the damage should be required. 5.5.6 The selling of the damaged and insured objects before the damage regulation, without a permission given by the insurer, is forbidden. 5.5.7 It is necessary to comply with the regulations of the maritime law of the country in which the damage has occurred. 6. Component of the terms and conditions are also: general terms and conditions of YACHT-POOL 01 2 CONDITIONS ON THE HULL INSURANCE

general terms and conditions of YACHT-POOL 01 TERMS AND CONDITITONS 20140416 1 Basis of coverage 1. The terms and conditions for charter insurances apply to all charter insurances offered by YACHT-POOL. 2. Charter insurances are as follows: Skipper s liability insurance Skipper s accident insurance Skipper s defense & recovery insurance Charter deposit insurance Consequential damage insurance Charter cancellation cost insurance 3. The basis of the coverage is the concluded written contract (with a maximum of 4 weeks per charter contract) for the use of water-sports craft for private purposes. 4. This insurance is not valid for skippers, which are business skippers and earn money or get other non-cash benefits for commanding the boat. Coverage for business skippers is possible on separate request and must be stated in the policy. 5. The agreed insurance services and insurance sectors the policy holder has requested in the application form shall apply exclusively. After consulting YACHT-POOL it is possible to increase the insured amount (except of charter deposit insurance). 6. The insurance coverage can be concluded at any time prior to the charter. 7. The insurance shall apply after payment for premium is received. 8. The coverage of the charter insurances is worldwide except U.S.A., Canada and Australia. We can offer additional cover for these areas upon request. 2 General obligations 1.) Payment of the premium a) Direct debit mandate for the premium: Insurance protection is provided independent of the date of the actual charge (subject to the coverage of the account). b) In case of payment by invoice: The premium has to be paid before the charter trip starts. Otherwise insurance protection cannot be provided in case of damage. Please be so kind to authorize the payment at least 1 week prior to your charter trip. c) Payment bay credit card: Insurance coverage is possible at any time at the latest before the charter trip starts. Seite 6 2.) Insurance contract: a) The contract materializes after the receipt of the insurance policy. b) The period of insurance is ending always until 31st of December each year and is valid from the inception date and shall be automatically extended except of special agreements which are stated in the policy (for example charter cancellation cost insurance which ends at the end of the respective charter trip). Therefore the decisive factors are inception date and the agreed insurance expiry. c) Unless otherwise agreed, the notice period for cancellation is one month before the end of the contract period. 3.) Claims Claims have to be recorded as soon as possible to your representative YACHT-POOL office. The latest 4 weeks after the occurrence of damage. All such documents have to be provided promptly after the claim. Otherwise the claim payments can expire. b) The insured is obliged to make available all necessary information or documentation. In case of personal injury and the instructions of the insurer the treating doctors are released from their confidentially. c) If one of the obligations aforementioned is intentionally violated, the insured person can lose insurance protection. In the event of the grossly negligent breach of an obligation the insurer is entitled to reduce its benefit proportionately to the severity of the negligence. If the policy holder proves that he has not grossly negligently breached the obligations, than the insurance cover continues. The insurance cover remains if the policy holder proves that the breach of the obligation caused neither the occurrence nor establishment of the insured event nor the assessment or extends of the indemnification due by the insurer. This shall not apply if the policy holder fraudulently violated the obligation. The knowledge and negligence of the insured person shall be in accordance with the knowledge and negligence of the policy holder. 4.) Required documents for the claim a) In the event of damage we require the following documents: Charter contract Crew list Provide proof of actually paid deposit (credit card receipt, receipt) Detailed cost summary of the charter company (invoice, estimate of costs) Detailed description of the damage signed by the skipper and the crew, pictures of the damage if available b) Further documentations, if required, are marked in the respective insurance segment and have to be submitted to YACHT- POOL. Otherwise claims payments can expire. Copyright YACHT-POOL INTERNATONAL

c) Justified claims payments will occur quickly. 5. Right of revocation You can revoke your contractual declaration within 14 days in writing (e.g. letter, fax, e-mail) without stating reasons. The revocation should be send to your YACHT-POOL contact partner (see policy). 6. Consequences of revocation When revocation is effective, insurance cover ceases. Special information Your right of revocation expires once the charter trip already started. 3 Other regulations 1. The premium payments of the insured and the benefits provided by the insurer shall be in the currency quoted in the policy. 2. All notices and declarations intended for the insurer, as well as all obligations and commitments, also payment commitments, are deemed to be fulfilled with the insurer as soon as the YACHT-POOL representative received it. 3. For the rest the VVG/Germany and the VerVG/Austria applies, depending on the insurance provider. You will find your insurance provider in your policy. 4. The place of jurisdiction is Munich/Germany respectively Salzburg/Austria depending your insurance provider you will find in your policy. German law shall apply, respectively Austrian law, depending on the insurance provider. 5. Any claims that may arise from the insurance may not be assigned or given in pledge before the final determining or agreement of the insurer. 6. The contract language is Englisch, German and Polish. 7. Complaints concerning the insurer (except travel health insurance) you may call upon the service of the following ombudsman: The address is: Postfach 080632, 10006 Berlin. The process is free of charge for you. The ombudsman s decisions are binding on the insurer up to a dispute value of 5.000,-. For complaints concerning travel health insurance you can use out-of-court amicable settlements from the ombudsman. The address is: PKV-ombudsman, Kronenstr. 13, 10117 Berlin. The process is free of charge for you. The decision of the ombudsman is non-binding for the insurer. In both cases the right to commence legal proceedings remains unaffected. Copyright YACHT-POOL INTERNATONAL For Austrian insurer: Verband der Versicherungsnehmer Österreichs, Schwarzenbergplatz 7, A-1030 Vienna. 8. Complaints to the supervisory authority Complaints from German insurer may also be reported free of charge to the responsible supervisory: Bundesanstalt für Finanzdienstleistungsaufsicht, Graurheindorfer Str. 108, 53117 Bonn. Insofar as it concerns German insurers. Claims from Austrian insurers have to be reported to: Mag. Irene Schwarzinger Informationsstelle, Schwarzenbergplatz t, A-1030 Wien. 9. Insurer You will find your respective insurer in the policy. The general terms and conditions of insurances depends on the insurer: German insurer: AHB, AUB, ARB Austrian Inusrer: AHVB/EHVB, AUVB, ARB 10. Penalty clause Insurance cover is provided only - without prejudice to the provisions of the contracts - and is directly applicable as far as and as long as none of the parties in contract opposed German/Austrian economic, trade and financial actions respectively EU embargoes. This also applies for economic, trade and financial actions respectively embargoes by the United States of America with a view to Iran may become issue. As long as there are no legislative concessions of German and and/or Austrian. 11. Newsletter As a client you permit YACHT-POOL the authorization to send you our newsletter. Any personal details collected as part of this newsletter subscription will be used for the purpose of processing the subscription and dealing with your enquiries. You will receive newsletters from the YACHT-POOL group. Your data will not be available to third parties. Future use of your data for purposes of important information, advertising or market research might be possible. If the insurance contract is terminated, you will furthermore receive our newsletter until subscripted. If you no longer require the newsletter you can cancel at any time by telephone, fax or mail. 12. Subsidiary If there are insurances, which will cover damages, then YACHT- POOL insurances are free of charge. Seite 7 TERMS AND CONDITITONS 20140416