LIBERTY INSURANCE LIMITED Kumho Asiana Plaza, 15th fl. 39 Le Duan St., District 1 Ho Chi Minh City, Vietnam Tel: (84-8) 38 125 125 Fax: (84-8) 38 125 018

WORKER'S COMPENSATION INSURANCE POLICY WORDING WHEREAS the Insured carrying on the Business described in the Schedule and no other for the purpose of this insurance has submitted to LIBERTY INSURANCE LIMITED (hereafter called the Company) a proposal form which shall be the basis of this contract and is deemed to be incorporated herein and has paid or agreed to pay the premium stated in the Schedule as consideration for such insurance. The Company agrees that if any Worker in the Insured's employment shall sustain bodily injury by accident or occupational disease caused during the Period of Insurance and arising out of and in the course of employment by the Insured in the Business, the Company will subject to the terms, exclusions, conditions, warranties and sums insured or limits of liability selected by the Insured, indemnify the Insured against all sums for which the Insured shall be liable to pay compensation as specified in the Labour Code of Vietnam (23 June 1994) and subsequent Amendments and will in addition pay all costs and expenses incurred by the Insured with the written consent of the Company in defending any claim for such compensation.

JURISDICTION 1.

This Policy shall be subject to Vietnamese Laws and Jurisdiction.

2.

The indemnity under this Policy shall not apply in respect of judgments which are not in the first instance delivered by or obtained from a court of competent jurisdiction within the Socialist Republic of Vietnam.

SCOPE OF COVER This insurance provides the following compensation in the event of death, permanent disablement or temporary disablement of a Worker resulting from bodily injury caused due to a labour accident or occupational disease arising out of and in the course of his employment by the Insured in the Business: 1.

In case of Death or Permanent Total Disablement (81% and above): 30-month salary (or any sum selected by the Insured);

2.

In case of Partial Permanent Disablement: Compensation as per SCALE OF COMPENSATION attached. The compensation of 100% corresponds to the sum insured for death or permanent total disablement.

3.

Loss of salary during medical treatment: up to the time limit selected by the Insured;

4.

Medical expenses (including hospitalization costs): up to the limit selected by the Insured.

The maximum liability of the Company in respect of any one worker during the period of insurance shall be the sum insured and/or limit of liability and/or time limit applicable to such worker.

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EXCLUSIONS

The Company shall not be liable in respect of: 1.

any liability of the Insured which attaches by virtue of an agreement but which would not have attached in the absence of such agreement;

2.

the Insured's liability to employees of independent contractors engaged by the Insured;

3.

any employee of the Insured who is not a "Worker" within the meaning of the Legislation;

4.

any late payment surcharge, fines, penalties or punitive aggravated or exemplary damages for which the Insured may become liable under the Legislation or independently of the Legislation;

5.

any sum which the Insured would have been entitled to recover from any party but for an agreement between the Insured and such party;

6.

any bodily injury to any Worker of the Insured resulting from an accident if the injury to the Worker is directly attributable to the Worker having been at the time thereof under the influence of alcohol or drug not prescribed by a medical practitioner unless the Insured is liable under the Legislation;

7.

food or drink poisoning;

8.

any incapacity or death resulting from a deliberate self-injury or the deliberate aggravation of an accidental injury;

9.

accidents, injury, occupational diseases which occurred outside of the territorial limits of the Socialist Republic of Vietnam;

10.

any injury to any Worker resulting from any scuffle, except when in self-defense;

11.

any wilful act or wilful negligence on the part of the Insured or any person acting on his behalf;

12.

Any actual or alleged liability whatsoever for any claim or claims in respect of losses directly or indirectly arising out of, resulting from, in consequence of, contributed to or aggravated by asbestos in whatever form or quantity;

13.

Any actual or alleged liability whatsoever for any claim or claims in respect of loss or losses directly or indirectly arising out of, resulting from or in consequence of, or in any way involving: (a)

diethylstibesterol (DES), dioxin, urea formaldehyde, SARS, Bird Flu, transmissible spongiform encephalopathies (TSE)

(b)

acquired immune deficiency syndrome (AIDS) or AIDS related complex (ARC) or any syndrome or condition of a similar kind howsoever it may be named.

14.

Any bodily injury to or death of any Worker of the Insured resulting from the service in any kind of armed forces (military, police) and fire brigades

15.

any bodily injury by accident or disease, liability, cost or expenses occasioned directly or indirectly caused by resulting from or in connection with any of the following regardless of any other cause or event contributing concurrently or in any other sequence to the injury or disease, liability, cost or expenses: (a)

riot, civil commotion, strikers or locked-out workers;

(b)

war, invasion, act of foreign enemy, hostilities or warlike operations (whether war be declared or not), civil war;

(c)

acts of terrorism;

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(d)

mutiny, military or popular uprising, insurrection, rebellion, military or usurped power, martial law or state of siege or any of the events or causes which determine the proclamation or maintenance of martial law or state of siege.

For the purpose of this Policy, "terrorism" means an act, including but not limited to the use of force or violence and/or threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public or any section of the public in fear; This exclusion also applies to injury, disease, liability, cost or expenses of whatever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to the above. In any action, suit or other proceeding where the Company alleges that by reason of the provisions of this exclusion any injury, disease, cost or expenses are not covered by this insurance, the burden of proving that such injury, disease, liability, cost or expenses are covered shall be upon the Insured. In the event any portion of this exclusion is found to be invalid or unenforceable, the remainder shall remain in full force and effect. 16.

any liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from: (a)

nuclear weapons material;

(b)

(i)

ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. Solely for the purpose of this Exclusion 15(b) combustion shall include any self-sustaining process of nuclear fission.

(ii)

the radioactive, explosive or other hazardous properties of any explosive nuclear component thereof.

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SPECIAL EXCLUSIONS 1.

Nuclear Energy Risks Exclusion Clause (1994) (Worldwide excluding USA and Canada) - NMA 1975(A) This Agreement shall exclude Nuclear Energy Risks whether such risks are written directly and/or by way of insurance and/or via Pools and/or Associations. For all purposes of this Agreement Nuclear Energy Risks shall mean all first party and/or third party insurances (other than workers' compensation and/or employers' liability) in respect of:(I)

All Property on the site of a nuclear power station. Nuclear Reactors, reactor buildings and plant and equipment therein on any site other than a nuclear power station.

(II)

All Property, on any site (including but not limited to the sites referred to in (I) above) used or having been used for:(a) (b)

The generation of nuclear energy; or The Production, Use or Storage of Nuclear Material.

(III)

Any other Property eligible for insurance by the relevant local Nuclear Insurance Pool and/or Association but only to the extent of the requirements of that local Pool and/or Association.

(IV)

The supply of goods and services to any of the sites, described in (I) to (III) above, unless such insurances shall exclude the perils of irradiation and contamination by Nuclear Material.

Except as under-noted, Nuclear Energy Risks shall not include:(i)

Any insurance in respect of the construction or erection or installation or replacement or repair or maintenance or decommissioning of property as described in (I) to (III) above (including contractors' plant and equipment);

(ii)

Any Machinery Breakdown or other Engineering insurance not coming within the scope of (i) above;

Provided always that such insurance shall exclude the perils of irradiation and contamination by Nuclear Material. However, the above exemption shall not extend to:(1)

The provision of any insurance whatsoever in respect of:(a) Nuclear Material: (b) Any Property in the High Radioactivity Zone or Area of any Nuclear Installation as from the introduction of Nuclear Material or - for reactor installations - as from fuel loading or first criticality where so agreed with the relevant local Nuclear Insurance Pool and/or Association.

(2)

The provision of any insurance for the under-noted perils:Fire, lightning, explosion; Earthquake; Aircraft and other aerial devices or articles dropped therefrom; Irradiation and radioactive contamination; Any other peril insured by the relevant local Nuclear Insurance Pool and/or Association; in respect of any other Property not specified in (1) above which directly involves the Production, Use or Storage of Nuclear Material as from the introduction of Nuclear Material into such Property.

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Definitions "Nuclear Material" means:i)

Nuclear fuel, other than natural uranium and depleted uranium, capable of producing energy by a self sustaining chain process of nuclear fission outside a Nuclear Reactor, either alone or in combination with some other material; and

(ii)

Radioactive Products or Waste. "Radioactive Products or Waste" means any radioactive material produced in, or any material made radioactive by exposure to the radiation incidental to the production or utilisation of nuclear fuel, but does not include radioisotopes which have reached the final stage of fabrication so as to be usable for any scientific, medical, agricultural, commercial or industrial purpose.

"Nuclear Installation" means:(i)

Any Nuclear Reactor;

(ii)

Any factory using nuclear fuel for the production of Nuclear Material, or any factory for the processing of Nuclear Material, including any factory for the reprocessing of irradiated nuclear fuel; and

(iii)

Any facility where Nuclear Material is stored, other than storage incidental to the carriage of such material.

"Nuclear Reactor" means any structure containing nuclear fuel in such an arrangement that a self sustaining chain process of nuclear fission can occur therein without an additional source of neutrons. "Production, Use or Storage of Nuclear Material" means the production, manufacture, enrichment, conditioning, processing, reprocessing, use, storage, handling and disposal of Nuclear Material. "Property" shall mean all land, buildings, structures, plant, equipment, vehicles, contents (including but not limited to liquids and gases) and all materials of whatever description whether fixed or not. "High Radioactivity Zone or Area" means:-

2.

(i)

For nuclear power stations and Nuclear Reactors, the vessel or structure which immediately contains the core (including its supports and shrouding) and all the contents thereof, the fuel elements, the control rods and the irradiated fuel store; and

(ii)

For non-reactor Nuclear Installations, any area where the level of radioactivity requires the provision of a biological shield.

Nuclear Exclusion (SR 482) This Agreement shall not apply to nuclear energy risks in accordance with the Nuclear Energy Risks Exclusion Clause NMA 1975a and any other liability, loss, cost or expense of whatsoever nature directly or indirectly caused by, resulting from, arising out of or in connection with nuclear reaction, nuclear radiation or radioactive contamination regardless of any other cause contributing concurrently or in any other sequence to the loss, save where such liability, loss, cost or expense is expressly exempted from NMA 1975a.

3.

Nuclear Energy Risks Exclusion Clause 1.

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This contract excludes nuclear energy risks whether written directly or by way of insurance or via pools or associations. Under this contract the term “nuclear energy risks” means any first or third party insurance (other than workers’ compensation or Page 5 of 14

employers’ liability) in respect of: 1.1

nuclear reactors and nuclear power stations or plant;

1.2

any other premises or facilities concerned with 1.2.1 the production of nuclear energy or 1.2.2 the production or storage or handling of nuclear fuels or nuclear waste;

2.

1.3

any other premises or facilities eligible for insurance by any local nuclear pool or association but only to the extent of the requirements of the local pool or association;

1.4

nuclear or radioactive fuel, or nuclear or radioactive waste.

However, this exclusion shall not apply 2.1

to any insurance in respect of the construction, erection or installation of buildings, plant and other property (including contractor’s plant and equipment used in connection therewith): 2.1.1 for the storage of nuclear fuel – prior the commencement of storage 2.1.2 as regards reactor installations – prior to the commencement of loading of nuclear fuel into the reactor, or prior to the initial criticality, depending on the commencement of the insurance of the relevant local nuclear pool or association;

4.

2.2

to any machinery breakdown or other engineering insurance not coming within the scope of 3.1. above, nor affording coverage in the “high radioactivity” zone;

2.3

to any insurance in respect of the hulls of ships, aircraft or other conveyances;

2.4

to any insurance in respect of loss of or damage to (including any expenses incurred therewith) nuclear or radioactive fuel or nuclear or radioactive waste while in transit or storage as cargo, other than while being processed or while in storage at the reactor installation or any other final destination concerned with production, storage or handling of nuclear fuel or nuclear waste.

Property Damage Clarification Clause Property damage covered under this Agreement shall mean physical damage to the substance of property. Physical damage to the substance of property shall not include damage to data or software, in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure. Consequently the following are excluded from this Agreement: A.

Loss of or damage to data or software, in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure, and any business interruption losses resulting from such loss or damage. Notwithstanding this exclusion, loss of or damage to data or software which is the direct consequence of insured physical damage to the substance of property shall be covered.

B.

Loss or damage resulting from an impairment in the function, availability, range of use or accessibility of data, software or computer programs, and any business interruption losses resulting from such loss or damage.

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5.

Seepage, Pollution and Contamination Exclusion Clause NMA 1685 This Agreement does not cover any liability in respect of: 1.

Loss of, damage to, or loss of use of property directly or indirectly caused by seepage, pollution or contamination, provided always that this paragraph shall not apply to loss of or physical damage to or destruction of tangible property, or loss of use of such property damaged or destroyed, where such seepage, pollution or contamination is a consequence of an otherwise under this agreement indemnifiable sudden, unintended and unexpected happening.

2.

The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances unless the seepage, pollution or contamination is a consequence of an otherwise under this agreement indemnifiable sudden, unintended or unexpected happening.

3.

Fines, penalties, punitive or exemplary damages.

4.

Furthermore it is agreed that the Insurer is only liable for such claims which have been reported to the Insured within twelve months from the occurrence of the otherwise indemnifiable happening.

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CONDITIONS 1.

Identification This Policy incorporates the Schedule and Endorsements which shall be read together as one contract. Words and expressions to which specific meanings have been attached in any part of this Policy or of the Schedule and Endorsements shall bear such specific meanings wherever they shall appear.

2.

Compliance In so far as it is not prohibited by the Legislation the Insured shall at all times observe, comply and fulfill the terms and conditions of this Policy.

3.

Statements The truth of the statements and answers in the proposal shall be conditions precedent to any liability of the Company to make any payment under this Policy and shall be the basis of this contract.

4.

Written Notice Every notice or communication to be given or made under this Policy shall be delivered in writing to the Company.

5.

Reasonable Precautions The Insured shall take all reasonable precautions to prevent accidents and disease to the Insured's Worker and shall comply with all statutory obligations and requirements.

6.

Notification (a)

In the event of any accident or discovery of disease which may give rise to a claim under this Policy, the Insured shall give notice within 72 hours of the accident or discovery to the Company with full particulars.

(b)

Every letter, claim, writ, summons and process shall be notified or forwarded to the Company immediately on receipt. Notice shall also be given to the Company immediately the Insured shall have knowledge of any impending prosecution inquest or fatal enquiry in connection with any such accident or disease discovery.

7.

Claims Procedures No admission, offer, promise or payment shall be made by or on behalf of the Insured without the written consent of the Company. The Company shall be entitled if it so desires to take over and conduct in the Insured's name the defense or settlement of any claim for indemnity or damages or otherwise and shall have full discretion in the conduct of any proceedings and in the settlement of any claim and the Insured shall give such information and assistance as the Company may require.

8.

Change in Business If the nature of the Business as described in the Schedule is changed in such a way as to increase the risk of accident or disease to any Worker in the Insured's employment, the coverage under this Policy shall cease in regard to the Worker affected unless the Insured, before the occurrence of any accident or discovery of disease involving the Worker, obtains the written consent of the Company to such change.

9.

Cancellation The Company may cancel this Policy by giving 30 days’ notice by registered letter to the Insured at his last known address and in such event the Company will return to the Insured the premium paid less the pro rata portion thereof for the period during which the Policy had been in force. This Policy may be cancelled by the Insured at any time by giving written notice to the Company and provided no claim has arisen during the period during which the Policy had been in force, the Insured shall be entitled to a return of premium less the premium computed at the Company’s Short Period Rates for the period during which the Policy had been in force.

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In the event of any change in the Legislation or the substitution by other legislation therefor the Company reserves the right to cancel this Policy or allow the Policy to remain in force and charge additional premium therefor. Short Period Rates: Period

Premium

Up to 3 months Between 3 to 6 months Between 6 to 9 months Over 9 months

30% of Annual Premium 60% of Annual Premium 90% of Annual Premium 100% of Annual Premium

10.

Aggravation of Consequences If an illness or invalidity existing before the accident or having occurred after the accident but not caused by same aggravated the consequences thereof the Company is liable only for the probable consequences of said accident had it not been aggravated by such illness or invalidity.

11.

Relinquishment At any time after the happening of any accident or occupational disease giving rise to a claim or series of claims under this Policy, the Company may pay to the Insured the full amount of the Company's liability and relinquish the conduct of any claim defense or proceedings and the Company shall not be responsible for any damage loss or liability alleged to have been caused to the Insured in consequence of any alleged act or omission of the Company in connection with such claim defense or proceedings or of the Company relinquishing such conduct nor shall the Company be liable for any costs or expenses whatsoever incurred by the Insured or any claimant or other person after the Company shall have relinquished such conduct.

12.

Other Insurance If at any time any claim arises under this Policy and other insurance covering the same liability exists the Company shall not be liable to pay or contribute more than their rateable proportion of such claim and costs and expenses.

13.

Premium Adjustment and Declaration of Salaries

14.

(a)

The Premium payable by the Insured shall be based on the total number of employees and total amount of salaries paid by the Insured to every Worker in his employment during the Period of Insurance.

(b)

If the total number of employees and total amount of salaries paid by the Insured during the Period of Insurance differs from the figures on which the Premium was calculated at the commencement of this Policy, the difference in the Premium shall be met by an additional payment or by a refund as the case may be, subject to a minimum premium payment of US$100 by the Insured.

(c)

For the purpose of the premium adjustment, the Insured shall keep and maintain a proper record of the name and full personal particulars of every Worker in his employment together with the amount of salaries paid by the Insured during the Period of Insurance and the Insured shall at all times allow the Company to inspect such records.

(d)

The Insured shall without demand and within a month after the expiry date or termination of this Policy, furnish the Company an account of the total number of employees and all salaries paid by the Insured to every Worker in his employment during the Period of Insurance and the Insured shall in the case of a corporation arrange for such account to be certified as correct by a certified public accountant or if the Insured is not a corporation, arrange for such account to be declared as correct by a partner/principal officer of the Insured.

New Workers and Changes in Workers' Salaries

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(a)

All additional Workers of the Insured are automatically covered from the commencement of their employment. The Insured undertakes to notify any changes of staff within 60 days of same. If any single change to worker numbers is 25% or greater than 25% of the current number of employees, then an additional/return premium will be payable at this time. If any single change to worker numbers is less than 25%, a final adjustment will be made at the end of the Period of Insurance and an additional/return premium will be calculated at the time.

(b)

AII changes in wages of existing Workers are automatically covered immediately from the date of the change. The Insured undertakes to notify any changes in wages of staff within 60 days of same.

(c)

A final adjustment will be made at the end of the Period of Insurance and an additional/return premium will be calculated at that time.

15.

Payment of Benefit to Worker Any benefits shall be calculated based upon the Monthly Salary received by the Worker at the time of accident.

16.

Subrogation The Insured shall at the expense of the Company do and permit to be done all such acts and things as may be necessary or reasonably required by the Company for the purpose of enforcing any rights and remedies or of obtaining relief or indemnity from other parties to which the Company shall be or would become entitled or subrogated upon their paying compensation for death, injury, or occupational disease including related costs such as rehabilitation expenses under this Policy whether such acts and things shall be or become necessary or required before or after his indemnification by the Company.

17.

Arbitration In the case of disagreement between the Company and the Insured or the beneficiary on the final consequences of the accident, each shall at its cost appoint a physician. If they fail to agree, they shall jointly appoint a third one and the majority of the three will make the decision. If one of the parties fails or declines to appoint a physician, or if the two already appointed fail to agree on a third one, the latter shall be appointed by the judge qualified at the place of the accident or residence of the beneficiary.

18.

Duty of Disclosure The Insured must disclose to the Company fully and faithfully the facts he knows or ought to know, otherwise the Insured may not receive any benefit from this Policy.

19.

Warranty The Insured warrants that in the event of any failure by him to comply with any of the terms and conditions of this Policy, he shall repay to the Company all sums paid by the Company.

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WORKER’S COMPENSATION INSURANCE SCALE OF COMPENSATION

A.

DEATH OR PERMANENT DISABLEMENTS (In percentage of Capital Sum Insured)

DEATH

100%

TOTAL DISABLEMENT * * * * * * *

*

Total and irrecoverable loss of sight of both eyes Total and incurable mental alienation Loss of two arms or two hands Total deafness of two ears Removal of the lower jaw Loss of ability to speak Loss of one arm and one foot, or one arm and one leg or one hand and one leg, or one hand and one foot Loss of two legs or two feet

100% 100% 100% 100% 100% 100%

100%

PARTIAL DISABLEMENT HEAD * * * * * *

Loss of osseous substance of the skull on its full thickness: - Surface of at least 6 sq. centimeters - Surface of 3 to 6 sq. centimeters Partial removal of lower jaw, one ascending branch totally or half of the maxillary body Loss of one eye Complete deafness of one ear

40% 20% 40% 40% 30%

UPPER LIMBS

Right

Left

* *

60% 50%

50% 40%

65%

55%

20% 40%

15% 30%

25%

20%

40% 40%

35% 30%

40%

35%

30% 20%

25% 15%

* * * *

*

* * *

Loss of one arm or one hand Loss of substantial osseous substance of the upper arm (definitive and incurable lesion) Total paralysis of the upper arm (incurable lesion of the nerves) Total paralysis of the circumflex nerve Anchylosis of the shoulder Anchylosis of the elbow - in favorable position (15 degrees around right angle) - in unfavorable position Loss or substantial osseous substance of the two bones of the forearm (definitive and incurable lesion) Total paralysis of the medial nerve (at the groove of torsion) Total paralysis of the radial nerve at the forearm Total paralysis or the radial nerve at the hand

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* * * * * * * * * * * *

Total paralysis or the cubical nerve Anchylosis of the wrist favourable position (in straightness and prone position) Anchylosis of the wrist in unfavorable position (forced flexion of extension or supine) Total loss of the thumb Total cutting off the forefinger Simultaneous cutting off the thumb and the forefinger Cutting off of the thumb and a finger other than the forefinger Cutting off of three fingers including the thumb Cutting off of three fingers save the thumb and the forefinger Cutting off of four fingers including the thumb Cutting off of four fingers save the thumb Cutting off of one finger other than thumb or forefinger

30% 20%

25% 15%

30%

25%

20% 15% 35%

15% 15% 25%

25%

20%

35% 20%

30% 15%

45% 45% 10%

40% 35% 05%

When it is established that the victim is left handed, the Scale of Compensation for the upper limbs is reversed, the quantum provided for the right limb becoming applicable to the left one and vice versa.

LOWER LIMBS * * * * * * * * * * * * *

*

* * * * *

Cutting off of a thigh (upper half) Cutting off of a thigh (lower half) Total loss of a foot (tibio-tarsian disarticulation) Partial loss of a foot (sub-astragalian disarticulation) Partial loss of a foot (medio-tarsian disarticulation) Partial loss of a foot (tarso-metatarsian disarticulation) Total paralysis of a lower limb (incurable lesion of the nerve) Total paralysis of the external popliteal sciatic nerve Total paralysis of the internal popliteal sciatic nerve Complete paralysis of the two nerves (sciatic, external and internal popliteal) Anchylosis of the hip Anchylosis of the knee Substantial loss of osseous substance of the thigh or of the two bones of the lower -leg (incurable state) Substantial loss of osseous substance of the knee-cap with large split of the chips and considerable constraint of extension moves of the lower leg with the thigh Loss of osseous substance of the knee-cap with moves preserved Shortening of the lower limb by at least 5 cms Shortening of a lower limb by 3 to 5 cms Total cutting off of four toes including the big toe Cutting off of three toes including the big one

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60% 50% 45% 40% 35% 30% 60% 30% 20% 40% 40% 20% 60%

40%

20% 30% 20% 20% 15%

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* *

Cutting off of two toes including the big one Cutting off of the big toe

10% 05%

Anchylosis of fingers (save the thumb and the forefinger) and of toes (save the big toe) will allow 50% only of compensation provided for the loss of same. Disablement not listed hereunder will be compensated in proportion to their severity as compared with those listed and without prejudice to the occupation of the victim. The absolute and definitive functional lameness of a limb or of a segment of a limb is likened to the cutting off of that limb or limb segment. In the case the victim is already one-eyed before the accident and loses the use of this eye, the disablement compensation is increased to 100% instead of 40% as shown in the Scale of Compensation. No compensation for Permanent Partial Disablement shall be due unless it equals or exceed 5%.

B.

TEMPORARY DISABLEMENT (LOSS OF SALARY DURING MEDICAL TREATMENT) In case a Worker is temporarily disabled as a consequence of an accident or occupational disease covered hereunder, he or she will be compensated for such disablement on the basis of 100% of Monthly Salary, subject to the time limit as specified in the Schedule. The amount claimable per day (including Sundays and Holidays) shall be calculated as follows: Basic Monthly Salary (excluding overtime, bonus, gratuities) 30 days Such compensation shall cease when the victim is declared by the physician appointed by the Company as fit to resume work whether or not its injury has already completely healed up.

C.

MEDICAL EXPENSES In case a Worker sustains any bodily injury caused by accident or occupational disease covered hereunder, this Policy shall compensate him, subject to the limit as specified in the Schedule, for the medical or surgical expenses, hospitalization costs and other related costs incurred within 52 weeks of the happening of the injury, provided that all such costs and expenses are necessarily and reasonably incurred for professional service from a fully qualified and registered medical practitioner, physician, surgeon and/or at a hospital prescribed by such medical practitioner, physician or surgeon.

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PREMIUM WARRANTY 1.

Notwithstanding anything herein contained to the contrary, and subject only and without prejudice to clause 2 hereinafter set out, it is hereby declared and agreed that it is a condition precedent to liability under this Policy, Renewal Certificate, Endorsement or Cover Note that any premium due must be paid and actually received in full by the Company, the registered broker or registered agent through whom this Policy was effected: (a)

(b)

where the period of insurance is more than 30 (thirty) days, within (A): 30 (thirty) days; or (B) where the Insured requests, the Company may accept to extend the period of payment by issuing the Endorsement and sends to the Insured, 30 days plus with the extended period of payment, from the: (i)

INCEPTION date of the cover under the Policy, Renewal Certificate or Cover Note; or

(ii)

EFFECTIVE date of the cover stated on each Endorsement, if any, issued under the Policy, Renewal Certificate or Cover Note; or

(iii)

where the ISSUANCE date of the Policy or the Endorsement, if any, issued under the Policy, Renewal Certificate or Cover Note is more than 30 (thirty) days from the inception date or effective date, the premium must be paid upon presentation of the Debit Note(s); or

where the Company has allowed payment of that premium by installments (i)

within 15 days from INCEPTION date of the cover under the Policy, Renewal Certificate or Cover Note for the first installment and thereafter from the agreed dates on which the subsequent installments become payable; or

(ii)

Any Endorsement, if any, issued under the Policy, Renewal Certificate or Cover Note, the premium must be paid on the due date of latest installment and before the expiry date of the Policy

(iii)

where the period of insurance is less than 30 (thirty) days, the premium must be paid upon presentation of the Debit Note(s).

2.

In the event any of the abovementioned premium is not paid in full to the Company, registered broker or registered agent as described above in the manner and within the time stipulated above (the "premium warranty period"), the cover under this Policy, Renewal Certificate, Endorsement or Cover Note shall be deemed to have terminated automatically from the expiry of the premium warranty period and the Company shall be discharged from all liability therefrom but without prejudice to any liability incurred before that date and the Company shall be entitled to a pro-rata time on risk premium subject to a minimum of US$50.

3.

In case of claim, all the outstanding premiums will be paid immediately to the Company.

IMPORTANT NOTICE We would remind that you must disclose to us, fully and faithfully, the facts you know or ought to know, otherwise you may not receive any benefit from your Policy.

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