* ***** : OLD REPUBLIC INSURANCECOl\tlPANY

***** PHOENIX AVIATION

CERTIFICATE OF INSURANCE

This is to certify to (Certificate Holder): TEXAS DEPT. OF INSURANCE

AUSTIN, TEXAS AP~ROVED

JUN 03 2014The following policy Have been issued to:

[ ~

[ .

I POLICY INFORMATION: AIRCRAFT POLICY NO: [ .Policy number . 1 POLICY PERIOD: FROM: [ Date TO: r Date THIS COVERAGE IS EFFECTIVE 12:01 A.M. INSURANCE COMPANY: OLD REPUBLIC INSURANCE COMPANY

I LIABILITY COVERAGES: LIMITS OF LIABILITY D Bodily Injury EACH PERSON EACH OCCURRENCE D Property Damage $ $ D Passenger Bodily Injury $ $ D Single Limit r~ See·Rule #f 11Passengers, $ $ D L See Rule"#2 ·nr See Ruie #3 ;1Liability Limited to: $ $

I DESCRIPTION OF AIRCRAFT PHYSICAL DAMAGE COVERAGE: [ See Rule #4· !] F.A.A. INSURED DEDUCTIBLES NO. YEAR MAKE AND MODEL VALUE r See Rule . #5 ~1 r see Rule·· #ff 11

$ $ $ 1'$ $ $ $ I$ $ $ $ I$

I THIS CERTIFICATE HOLDER IS: 0 Included as a Loss Payee [ See Rule #7 ·]D Breach of Warranty Coverage on Aircraft Physical Damage as their interest may appear

#s not to exceed 100% of the Insured Value.

D Included as an Additional Insured on Aircraft Liability Coverage but only r -See Ruie {J D Provided a Waiver of Subrogation on Aircraft Physical Damage Coverage, but only[· .See Ruie #S.il

I OTHER COVERAGES I CONDITIONS I REMARKS: CA POLICY COVERAGE: D This coverage includes War and Confiscation Physical Damage Coverage0 This coverage includes War, Hijacking and Other Perils Exclusion Clause D This coverage includes Exception to Terrorism Exclusion D This coverage includes Conditional Exclusion of Terrorism AV POLICY COVERAGE: D This coverage includes Aircraft Hull War and Allied Perils 0 This coverage includes War, Hijacking and Other Perils Exclusion Clause 0 This coverage includes Exception to Terrorism Exclusion for Certified Acts of Terrorism D This coverage includes Conditional Exclusion of Terrorism

Provision has been made to give the Certificate Holder r See Rule #1 0 ·J r See Rule #11 ;J of any policy above; however, the Company assumes no responsibility for the failure to provide such notice. This Certificate is issued as a matter of information only and confers no rights upon the document holder. This certificate does not amend, extend, or alter the coverage, terms, exclusions, conditions, or other

revisions afforded b the olicies referenced herein. Ph . A ' t' R tat'oemx vta ton epresen tve:

Agency Name: Agency Phone:

r Agencv :1 [ Agency: ~hone number ']

r ·signatute"of Representative ,J

. .Date: [ Date ISSUed ]

Issuing Office: [ Address.ofissufna'uoffiee ·,J

Page 1 of [ 1 or 2 1

LDI COl 275984 08 11

PAM CORP COl (06111) A MEMBER OF THE OLD REPUBLIC INSURANCE GROUP

* **** . ! OLD * REPUBLIC INSURANCECOMPANY

***** CERTIFICATE OF INSURANCE-

The following Amendments ar~ attached to the policy:

r-uSI at AmencfmentsaHached.faihe.ooHcv·-:,

PHOENIXAVIATION

TEXAS DEPt OF INSURANCE AUSTIN, TEXASAPPROVED JUN 0 3 2014

LDI COl 275984 08 11 Page 2 of2 PAM CORP COl (06/11) A MEMBER OF THE OLD REPUBLIC INSURANCE GROUP

TEXAS DEPT. OF INSURANCEAUSTIN, TEXAS APPROVED

JUN 0 3 201~

OLD REPUBLIC INSURANCE COMPANY

CORPORATE AIRCRAFT PROGRAM

CERTIFICATE OF INSURANCE RULES

Certificates of Insurance are issued as requested by the Insured and Agent/Broker. These certificates typically provide proof of coverage as required by state and federal government entities to include airport authorities, military agencies, as well as mortgage lienholders, aircraft storage facilities, charter customers, etc.

The attached certificate form is designed to reflect a wide variety of coverage combinations that may be purchased by the Insured. Based on the fact that the types of aircraft and their utilization vary greatly, (fixed wing, helicopter, single or multi-engine, piston or turbine engines, etc.) the Insured may .purchase a wide variety of coverage options. We have designed this form with drop down menus that will allow us to reflect a wide variety of coverage options from a single form. Without changing the appearance of the form itself, we reserve the right to add or delete items from the drop down menus based on coverages that we may offer or withdraw in the future through policy forms and amendments submitted to and approved by the state.

#1 Including Excluding

#2 With All

#3 Passenger Bodily injury

#4 All risks ground & in-flight All risks not in motion All risks rotor in motion All risks rotors not-in-motion All risks ground and taxi Not applicable

#5 Not in motion Rotors not- in-motion

#6 In-motion/ingestion In-motion Ro_tors in-motion/ingestion In-motion/moored

#7 For aircraft physical damage coverage As their interests may appear for aircraft physical damage coverage, but only with respect to leased engine s/n Solely as respects to

CORP COl RULES (06/11) Page 1 of"2

TEXAS DEPt OF INSURANCE AUSTIN,TCXAs APPROVED

JUN 03 2014 #8 On aircraft liability coverage On airport liability coverage On aviation operations liability coverage

#9 With respect to operations of the named insured With respect to hangaring of With respect to the hangar lease agreement for While providing pilot training for the benefit of the named insured While providing pilot services for the benefit of the named insured While providing pilot services and aircraft management for the benefit of the named insured While providing pilot mentor services for the benefit of the named insured W.hile providing aircraft management for the benefit of the named insured 'As required by the insurance provisions in the As lessor of engine serial # As respects charter use operated by the named insured

# 1 0 - (The selection will be determined by state regulations.) Prompt notice of cancellation Ten (1 0) days notice of cancellatio_n Fifteen (15) days notice of cancellation Twenty (20) days notice of cancellation Thirty (30) days notice of cancellation Forty-five (45) days notice of cancellation

· Sixty (60) days notice of cancellation Seventy five (75) days notice of cancellation Ninety (90) days notice of cancellation

# 11- (The selection will be dete.rmined by state regulations.) Ten (1 0) days for nonpayment of premium Fourteen (14) .days for nonpayment. of premium Fifteen (15) days for nonpayment of premium Twenty (20) days for nonpayment of premium Thirty (30) days for nonpayment of premium Sixty (60) days for nonpayment of premium

PAGE NUMBER Depending on whether page 2 is used or note will determine if this is a 1 page or 2 page Certificate.

CORP COl RULES (06/11) Page 2 of 2