Amendment to Article 8 - “INSURANCES”. The paragraph 8.2 is cancelled and substituted by the following: “Company shall at its own expense procure and maintain in full force and effect throughout the term appropriate insurance policies to be approved by Repairer in its absolute discretion covering all the items of the Stock and of the Advanced Pool Stock for the full replacement value as provided in Clause 2.4 of Exhibits 10 and 15. Repairer shall be named as sole loss payee on all loss and physical damage policies and as an additional named insured on any liability policies. Moreover, the Repairer will be designated the beneficiary of the insurance against losses and will also benefit from the appropriate waiver of recourse and rights of subrogation. Prior to the Start Date and upon each renewal of any policy, Company will supply Repairer with certificates of insurance compliant with the terms and conditions set out in Exhibit 10 to this Agreement.”
