5-2 承保範圍及不保事項 - ACE Group

(a)holds directly or indirectly more than 50% of the voting rights; or(b)controls the right to appoint a majority of the board of directors (or equivalent in anyother jurisdictions); or(c)has the right, pursuant to a written agreement with other shareholders, to appoint amajority of the board of directors (or equivalent in any other jurisdictions);or (3) any joint venture or entity over which the company in Item 1 of the Schedule directly orindirectly exercises effective management control.but only if such entity is domiciled in the Country of Incorporation of the companyshown in item 1 of the Schedule.For the purposes of this endorsement only, the following definition is hereby added to the policy:Sister Company means any entity in which the Parent Company:(a)holds directly or indirectly more than 50% of the voting rights; or(b)controls the right to appoint a majority of the board of directors (or equivalent in anyother jurisdictions); or(c) has the right, pursuant to a written agreement with other shareholders, to appoint amajority of the board of directors (or equivalent in any other jurisdictions),but only if such entity is domiciled in the Country of Incorporation of the company shown initem 1 of the Schedule.For the purposes of this endorsement, the following definition is hereby added to the policy:Parent Company shall mean (xxxx)In all other respects this policy remains unaltered.ACE elite III Directors & Officers Liability Insurance PolicyE059 North American ExclusionBy way of endorsement to the policy, the parties agree as follows (subject otherwise to all other terms,conditions, limits of liability and exclusions of the policy):333