AVIATION CERTIFICATE OF INSURANCE Number of Certificate: D-BEAM RBI Leasing GmbH IC01 Date of Issue: 25 th February 2016 Section I GENERAL CONTENTS OF INSURANCE CONTRACT Allianz Global Corporate & Specialty SE, Branch Office Austria, in its capacity as Insurer confirms that coverage has been effected as follows: 1. Assured: Jet Pool Network Luftverkehrs GmbH Office Park 3, Objekt 682 Top 565, 566 A-1300 Vienna-Airport, Austria Co-Insured: Add. Assured: Swiss Global Jet Management Ltd. P.O. Box 185 CH-8058 Zurich-Airport, Switzerland Müller Service Ltd. & Co. KG (Sublessor/Lessee) Albstrasse 92 D-89081 Ulm Germany RBI Leasing GmbH (Owner/Lessor/First Loss Payee) Mooslackengasse 12 A-1190 Vienna Austria 2. Insurer: Allianz Global Corporate & Specialty SE Branch Office Austria Hietzinger Kai 101-105I A-1130 Vienna, Austria 3. Insurance-Contract-No.: ATA00162816B 4. Insured Period: 03.03.2016 / 00.00h CET 02.03.2017 / 24.00h CET 5. Territorial Scope of Coverage: Worldwide, but subject to LSW 617G and excluding overflying Libya. Any operations into / out of and overflying East-Ukraine (East of 32 degrees East longitude) are also excluded. 6. Sums Insured: Liabilities: Combined Single Limit applicable to all Liability-Coverage as confirmed in Section IV of this Certificate: USD 200 000 000 any one aircraft / accident / occurrence but limited to USD 200 000 000 any one accident and in the annual aggregate in respect of coverage provided by AVN 52E. Hull All Risks: Agreed Value of insured aircraft applicable to Hull All Risks Coverage as confirmed in Section IV of this Certificate: USD 23 000 000 with a deductible of USD 20 000 each and every claim but not applicable with respect to total loss, constructive total loss and arranged total loss. Page 1 of 7
7. Insured Aircraft: Type: Challenger 300 Reg.: D-BEAM MSN: 20452 MTOM: 17 622kg Seats: 3 Crew / 9 Pax Hull War Risks Agreed Value of insured aircraft applicable to Hull War Risks Coverage as confirmed in Section IV of this Certificate: USD 23 000 000 Deductible as per market standard Hull War wording. Section II This Certificate is issued for submission to following party : RBI Leasing GmbH (Owner/Lessor) Mooslackengasse 12 A-1190 Vienna Austria Section III This Certificate is issued in connection with an Aircraft Lease Agreement between RBI Leasing GmbH and Müller Service Ltd. & Co. KG in respect of the aircraft mentioned under Section I, Topic 7. Insured Aircraft. Page 2 of 7
Section IV LIABILITIES GENERAL CONFIRMATION We confirm that the Assured as defined in Section I of this Certificate has effected the following insurance: Aviation Liability Insurance with an insured Combined Single Limit as defined in Section I of this Certificate for inter-alia: Aircraft Third Party Legal Liability (bodily injury / property damage). Passenger Legal Liability including Passenger Baggage Liability and Passenger Personal Effects Liability with an applicable deductible of USD 500 each and every claim with respect to Passenger Baggage / Personal Effects Liability. This coverage is provided in accordance with any mandatory requirements of national or international laws and/or conventions and for US-flights in accordance with CAB/IATA-regulations. Cargo and Mail Liability with an applicable deductible of USD 5 000 each and every claim. All aforementioned coverage include war risks and allied perils coverage according to clause AVN 52 E but coverage for War Risks and Allied Perils under Third Party Legal Liability is limited to USD 200 000 000 any one occurrence and in the annual aggregate. Page 3 of 7
Section IV HULL ALL RISKS GENERAL CONFIRMATION We confirm that the Assured as defined in Section I of this Certificate has effected the following insurance: Hull All Risk Insurance against all losses or damage of aircraft and/or engines installed to the aircraft, whilst flying, taxiing and on the ground (including ingestion and disappearance) for an agreed value each aircraft as defined in Section I of this Certificate. Hull War Risks and Allied Perils as well as spare parts, engines and equipment when not installed on the insured or any other aircraft are generally not covered under this Policy. In the event of any dispute as to whether a claim is covered by the Hull All Risks policy or the Hull War Risks policy, such claim shall be settled on a 50/50 claim-funding basis, subject to the available insurance market wording (AVS 103). With respect to all losses of aircraft and/or engines installed to the aircraft a deductible as defined in Section I of this Certificate is applicable, but not applicable with respect to total loss, constructive total loss and arranged total loss of the insured aircraft. Section IV HULL WAR RISKS GENERAL CONFIRMATION We confirm that the Assured as defined in Section I of this Certificate has effected the following insurance: Hull War and Allied Risks Insurance (covering, without limitation (but subject to standard exclusions) war, acts of foreign enemies, hostilities, rebellion, insurrection, civil commotions, malicious sabotage, acts for political or terrorist purposes and any actual or attempted hijacking, unlawful seizure or wrongful exercise of control of the aircraft or crew in flight) in accordance with current market standard wording covering all losses or damage of aircraft and/or engines installed to the aircraft, whilst flying, taxiing and on the ground for an agreed value as stated in Section I of this certificate. In the event of any dispute as to whether a claim is covered by the Hull All Risks policy or the Hull War Risks policy, such claim shall be settled on a 50/50 claim funding basis, subject to the available insurance market wording (AVS 103). Page 4 of 7
Section V LIABILITIES SPECIAL PROVISIONS Always Provided that it is specifically required by contract or agreement or arrangement or any other obligation as defined in Section III of this Certificate the insurer hereby agrees to extend above coverage of this policy as follows: To include all parties as defined in Section II of this Certificate, as additional assured(s) under this policy. all respective officers, directors, employees, servants, shareholders, assignees and representatives of all parties, as defined in Section II of this certificate, as additional assured(s) under this policy. a provision that the interests of the additional assured(s) shall not be invalidated by any action or inaction or omission of the assured or any other person and insures the interests of the additional assured(s) and/or their respective officers, directors, employees, servants, shareholders, assignees and representatives regardless of any misrepresentation, non-disclosure, want or due diligence, breach or violation of any warranty or declaration or condition or term contained in the policy of the Assured, provided that the party so protected has not caused, contributed to or knowingly condoned the said act or inaction or omission. a provision if policy is cancelled for any reason whatsoever or any material change is made in the coverage which affects the interests of the additional assured(s), or if policy lapses for non-payment of premium, such cancellation, change or lapse shall not be effective to the additional assured(s) for thirty (30) days (seven(7) days, or such other period as may from time to time be customarily obtainable in the aviation insurance industry, in the case of any war risk and allied perils coverage) after receipt by the additional assured(s) of written notice from the Insurer of such cancellation, change or lapse. However, notice will not be given at normal expiry date of the policy. a provision that the additional assureds are not liable for premiums, however, the additional assureds reserve the right to pay such premium in respect of the aircraft if they so choose. Page 5 of 7
Section V HULL / HULL WAR SPECIAL PROVISIONS Always provided that it is specifically required by contract or agreement or arrangement or any other obligation as defined in Section III of this Certificate the insurer hereby agrees to extend above coverage of this policy as follows: To include all parties as defined in Section II of this Certificate, as additional assured(s) under this policy. all respective officers, directors, employees, servants, shareholders, assignees and representatives of all parties, as defined in Section II of this certificate, as additional assured(s) under this policy. a provision that the insurer hold harmless and waives all rights of subrogation, recourse, set-off and counterclaim against the parties as defined in Section II of this Certificate and /or their respective officers, directors, employees, servants, shareholders, assignees and representatives. a provision that the interests of the additional assured(s) shall not be invalidated by any action or inaction or omission of the assured or any other person and insures the interests of the additional assured(s) and/or their respective officers, directors, employees, servants, shareholders, assignees and representatives regardless of any misrepresentation, non-disclosure, want or due diligence, breach or violation of any warranty or declaration or condition or term contained in the policy of the Assured, provided that the party so protected has not caused, contributed to or knowingly condoned the said act or inaction or omission. a provision if policy is cancelled for any reason whatsoever or any material change is made in the coverage which affects the interests of the additional assured(s), or if policy lapses for non-payment of premium, such cancellation, change or lapse shall not be effective to the additional assured(s) for thirty (30) days (seven(7) days, or such other period as may from time to time be customarily obtainable in the aviation insurance industry, in the case of any war risk and allied perils coverage) after receipt by the additional assured(s) of written notice from the Insurer of such cancellation, change or lapse. However, notice will not be given at normal expiry date of the policy. a provision that the additional assureds are not liable for premiums, however, the additional assureds reserve the right to pay such premium in respect of the aircraft if they so choose. Page 6 of 7
FINAL PROVISIONS Special Provisions of Section V of this Certificate are not applicable with respect to all claims caused by gross negligence or wilful misconduct on the part of the additional assured(s) (as mentioned in Section II of this Certificate) and/or their respective officers, directors, employees, servants, shareholders, assignees and representatives. The insurer further confirms that the conditions of the insurance policy are in accordance with AVN 67B. Special Provisions of Section V of this Certificate are always subject to no operational interest on the part of all parties seeking the protection hereunder. Regarding the insured aircraft mentioned in Section I of this Certificate and in accordance with the Hull All Risks / Hull War Risks coverage as described in this Certificate the Insurer hereby agrees to accept following FIRST LOSS PAYEE CLAUSE: Until RBI Leasing GmbH shall have notified Insurer to the contrary in respect of the aircraft: All recoveries hereunder which are always limited to the agreed value of the aircraft in respect of a total loss or a constructive or compromised or agreed or arranged total loss shall be paid in full to RBI Leasing GmbH as the respective interests in the aircraft may appear, without any deduction or deductions whatsoever. In respect of any other claim, settlement (net of any relevant Policy Deductible) shall be made with such party(ies) as may be necessary to repair the aircraft unless otherwise agreed after consultation between the Insurer and the Insured and, where necessary under the terms of the contract(s) mentioned in Section III, the contract parties. The insurance complies with: Date Recognition Exclusion Clause AVN 2000 Date Recognition Limited Coverage Clause AVN 2001 This Certificate and the Contract of Insurance as mentioned in Section I of this Certificate are subject to Contracts (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72. This Certificate overrides and supersedes all previously issued Certificates (if any) in connection with all contracts or agreements or arrangements or other obligations as defined in Section III of this Certificate. Except as specifically confirmed and/or agreed by each aforementioned section, this Certificate is always subject to terms, conditions, limitations, exclusions, warranties and cancellation provisions of the policy as mentioned in Section I of this Certificate. Allianz Global Corporate & Specialty SE Branch Office Austria Page 7 of 7