<p>This Agreement excludes claims:</p>

<ol>
	<li>in respect of sums which any original insured becomes liable to pay to any other party.</li>
	<li>products liability.</li>
	<li>directors&rsquo; and officers&rsquo; liability.</li>
	<li>liability under the Securities Exchange Act.</li>
	<li>professional indemnity and errors and omissions.</li>
</ol>
