# Contract Changes

**Addendum Number: 1**

It is hereby understood and agreed that, with effect from, 21st May 2011, Broker Remuneration & Deductions are amended as follows:

## Broker Remuneration & Deductions

- **BROKERAGE:** 7.5%
- **OTHER DEDUCTIONS FROM PREMIUM:** None.
- **AON CARRIER CHARGE:** Aon Limited performs various functions directly necessitated by the placement of international subscription market business which would otherwise have to be undertaken by carriers in order to enter into contracts of (re)insurance. These (re)insurance-related functions include without limitation placement related administration, product distribution, premium tax and technical accounting. Aon Limited is compensated in respect of the above by levying the Aon Carrier Charge on Carriers which, for calculation purposes, shall be equivalent to three-point five percent of all-slip premiums in addition to brokerage.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

## Agreement Parties

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Market Endorsement of Market Submission 02

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RD 09/05/11 01/E1 WE13/02