fidelitybondoverage532023.htm - Generated by SEC Publisher for SEC Filing

40-17G 1 fidelitybondoverage532023.htm fidelitybondoverage532023.htm - Generated by SEC Publisher for SEC Filing

Jason Duffy

Vice President

Insurance & Risk Management

FMR LLC

88 Black Falcon, First Floor, East Side, STE 167, V7E, Boston, MA, 02210 Phone: 617-563-9480 jason.duffy@fmr.com

May 03, 2023

U.S. Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, NW
Washington, DC 20543

RE:

Fidelity Investments Mutual Funds (FMR LLC) Rule 17g Compliance Filing

Fidelity Bond Coverage Period: July 1, 2022 – July 1, 2023

To Whom It May Concern:

We submit the following excess bond policies on behalf of Fidelity Investments Mutual Funds for $50,000,000 excess of $100,000,000 in coverage:

Everest Reinsurance Company

Policy No: FL5FD00012-211 (Equity and High Income Funds) Policy No: FL5FD00135-211 (Fixed Income & Asset Allocation Funds) Participation: $7M part of $50M x $100M

XL Specialty Insurance Company

Policy No: ELU183617-22 (Equity and High Income Funds)

Policy No: ELU1-183647-22 (Fixed Income & Asset Allocation Funds) Participation: $5M part of $50M x $100M

Ironshore Insurance Services

Policy No: FI4NAB095D003 (Equity and High Income Funds) Policy No: FI4NAB095H003 (Fixed Income & Asset Allocation Funds) Participation: $5M part of $50M x $100M

Freedom Specialty Insurance Company
Policy No: XJO2208785 (Equity and High Income Funds)
Policy No: XJO2208786 (Fixed Income & Asset Allocation Funds)
Participation: $10M part of $50M x $100M

Twin City Fire Insurance Co. (The Hartford)

Policy No: 08 FI 0252161-22 (Equity and High Income Funds) Policy No: 08 FI 0252157-22 (Fixed Income & Asset Allocation Funds) Participation: $10M part of $50M x $100M

Houston Casualty Company

Policy No: 24-MGU-22-A54574 (Equity and High Income Funds) Policy No: 24-MGU-22-A54576 (Fixed Income & Asset Allocation Funds) Participation: $8M part of $50M x $100M

London: Mosaic Syndicate 1609

Policy No: B080113016P22 (Equity and High Income Funds) Policy No: B080113012P22 (Fixed Income & Asset Allocation Funds) Participation: $5M part of $50M x $100M

The lead bond insurance policy, statement confirming payment of premiums, resolution of a majority of independent trustees approving coverage, joint insured bond statement and the Fidelity Bond Insurance Recovery Agreement have been submitted. The accession number is 0000880195-22-000023.

Sincerely,

Jason R. Duffy

Enc.

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411

This Policy is issued by the stock insurance company listed above (herein "Insurer").

EXCESS LIABILITY INSURANCE POLICY DECLARATIONS

UNLESS OTHERWISE PROVIDED IN THE FOLLOWED POLICY, THIS POLICY IS A CLAIMS MADE POLICY WHICH COVERS ONLY

CLAIMS FIRST MADE AGAINST THE INSUREDS DURING THE POLICY PERIOD. PLEASE READ THIS POLICY CAREFULLY.

Policy No. FI4NAB095D003

ITEM 1. INSURED COMPANY PRINCIPAL ADDRESS:


	Fidelity Equity & High Income Funds
	c/o FMR LLC 88 Black Falcon First Floor,
	East Side, Suite 167

ITEM 2.	COVERAGE PROVIDED:		Excess Fidelity Insurance Binder



ITEM 3.	FOLLOWED POLICY:		FMR Funds Concentric Custom Bond
	INSURER:		Berkshire Hathaway Specialty Insurance Company
	POLICY NUMBER:		47-EPF-315882-02


ITEM 4.	POLICY PERIOD:

	From July 01, 2022 12:01 A.M. To July 01, 2023 12:01 A.M.
	(Local time at the address shown in ITEM 1.)

ITEM 5.

Premium:			Plus all applicable Taxes, Fees and Surcharges.
	Premium:	$	13,503.00
	----------------------	-	----------------
	Total Amount Due:	$	13,503.00
			See Invoice for the date Premium is due and payable. Failure to pay the
			premium in full may result in voidance of coverage.

ITEM 6.	LIMIT OF LIABILITY/AGGREGATE LIMIT: $5,000,000 for all Loss under all Coverages combined.

Form: EXC.003; Edited (03.14.08)

Page 1 of 3

ITEM 7. UNDERLYING POLICY LIMITS/ATTACHMENT POINT: $100,000,000

ITEM 8. PENDING & PRIOR LITIGATION DATE: N/A

ITEM 9. NOTICE TO INSURER:

A.	Notice of Claim, Wrongful Act or Loss:
	Send to Company Indicated Above c/o Ironshore Insurance Services, LLC 28 Liberty Street 5th Floor New York, NY 10005
B.	All other notices:
	Send to Company Indicated Above c/o Ironshore Insurance Services, LLC 28 Liberty Street 5th Floor New York, NY 10005

ITEM 10. BROKER:

Mary Coughlin
WILLIS TOWERS WATSON NORTHEAST INC
Three Copley Place 100 Huntington Avenue
800 Boylston Street SUITE NO 300
Boston, MA 02116
LICENSE #: N/A

ITEM 11. FORMS AND ENDORSEMENTS:

1. ADM-OFAC-0419 - Sanction Limitation and Exclusion Clause 2. IRON.END.ALL.016 (0419) Insurer Address Change 3. EDO.008 (708) Quota Share Amendment of Declarations (Excess) 4. EXC.END.049 (0913) Tie-In Limits

THESE DECLARATIONS, TOGETHER WITH THE COMPLETED AND SIGNED APPLICATION, FOR THIS POLICY AND THE FOLLOWED POLICY, INCLUDING INFORMATION FURNISHED IN CONNECTION THEREWITH WHETHER DIRECTLY OR THROUGH PUBLIC FILING, AND THE POLICY FORM ATTACHED HERETO, CONSTITUTE THE INSURANCE POLICY.

Form: EXC.003; Edited (03.14.08)

Page 2 of 3

Ironshore Indemnity Inc. by:

Form: EXC.003; Edited (03.14.08)

Page 3 of 3

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411

Policy Number: FI4NAB095D003

EXCESS LIABILITY INSURANCE POLICY

I.	INSURING AGREEMENT
	In	consideration of the payment of the premium and in reliance upon all statements made in the application for this
	Policy	and the Followed Policy, including the information furnished in connection therewith, whether directly or through
	public	filing, and subject to all terms, definitions, conditions, exclusions and limitations of this policy, the Insurer agrees
	to	provide insurance coverage to the Insureds in accordance with the terms, definitions, conditions, exclusions and
	limitations	of the Followed Policy, except as may be otherwise provided in this Policy.
II.	LOSS PAYABLE PROVISION
	It	is agreed the Insurer shall pay the Insured as defined in the Followed Policy for Loss by reason of exhaustion by
	payments	of all Underlying Policy Limits of all underlying policies by the underlying insurers issuing such underlying
	policies	and/or the Insureds, subject to i) the terms and conditions of the Followed Policy as that form is submitted to
	the	Insurer; ii) the Limit of Liability as stated in Item 6 of the Declarations; and iii) the terms and conditions of, and the
	endorsements	attached to, this Policy. In no event shall this policy grant broader coverage than would be provided by
	the	Followed Policy.
III.	DEFINITIONS
	A.	The Terms “Insurer” and “Followed Policy” shall have the meanings attributed to them in the Declarations.
	B.	The term "Insureds” means those individuals and entities insured by the Followed Policy.
	C.	The term "Policy Period" means the period set forth in Item 4 of the Declarations.
	D.	The term "Underlying Policy Limits/Attachment Point" means an amount equal to the aggregate of all limits of liability as set forth in Item 7 of the Declarations for all Underlying Policies, plus the uninsured retention, if any, applicable to the Underlying Policies.
IV.	POLICY TERMS
	A.	This policy is subject to the same representations contained in the Application for the Followed Policy and has the same terms, definitions, conditions, exclusions and limitations (except as regards the premium, the limits of liability, the policy period and as may be otherwise in this Policy) as are contained in the Followed Policy.
	B.	If during the Policy Period or any Discovery Period the terms, conditions, exclusions or limitations of the Followed Policy are changed in any manner, the Insureds shall as a condition precedent to their rights to coverage under this policy give to the Insurer written notice of the full particulars thereof and secure the Insurers affirmative consent to such modification before coverage will be effective.

Form: EXC.004; Edited (07.12.07)

Page 1 of 2

As a condition precedent to their rights under this policy, the Insureds shall give to the Insurer as soon as practicable written notice in accordance with the terms, conditions, definitions, exclusions and limitations of the Followed Policy.

Notwithstanding any of the terms of this policy which might be construed otherwise, this policy shall drop down only in the event of reduction or exhaustion of the Underlying Limit and shall not drop down for any other reason including, but not limited to, uncollectibility (in whole or in part) of any Underlying Limits. The risk of uncollectibility of such Underlying Limits (in whole or in part) whether because of financial impairment or insolvency of an underlying insurer or for any other reason, is expressly retained by the Insureds and is not in any way or under any circumstances insured or assumed by the carrier.

Ironshore Indemnity Inc. by:

Form: EXC.004; Edited (07.12.07)

Page 2 of 2

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411


Endorsement # 1

Policy Number: FI4NAB095D003	Effective Date of Endorsement: July 01, 2022
Insured Name: Fidelity Equity & High Income Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

SANCTION LIMITATION AND EXCLUSION CLAUSE

No Insurer shall be deemed to provide cover and no Insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that Insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS OF THIS POLICY REMAIN UNCHANGED.

ADM-OFAC-0419

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IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411


Endorsement # 2

Policy Number: FI4NAB095D003	Effective Date of Endorsement: July 01, 2022
Insured Name: Fidelity Equity & High Income Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

INSURER ADDRESS CHANGE

It is hereby understood and agreed that the street address of the Insurer’s main administrative office and mailing address is changed to:

175 Berkeley Street
Boston, MA 02116

The street address for the Representative of the Insurer and Notice of Claim reporting is changed to: c/o Ironshore Insurance Services LLC.

28 Liberty Street, 5^thFloor
New York, NY 10005

The street address for the Service of Process/Suit provision in this policy is changed to: 175 Berkeley Street Boston, MA 02116

For the purposes of this endorsement:

1.	“Insurer” means the “Insurer”, “Underwriter” or “Company” or other name specifically ascribed in this policy as the insurance company or underwriter for this policy.
2.	“Notice of Claim reporting” means any “notice of claim/circumstance”, “notice of loss”, “notice of wrongful act”, or other such reference in the policy designated for the reporting of claims, loss, acts, occurrences or situations that may give rise or result in loss under this policy.
3.	“Policy” means the policy, bond or other insurance product to which this endorsement is added.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS OF THIS POLICY REMAIN UNCHANGED.

IRON.END.ALL.016 (0419)

Page 1 of 1

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411


Endorsement # 3

Policy Number: FI4NAB095D003	Effective Date of Endorsement: July 01, 2022
Insured Name: Fidelity Equity & High Income Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

QUOTA SHARE AMENDMENT OF DECLARATIONS (EXCESS)

In consideration of the premium charged, it is hereby understood and agreed that:

1.	Item 6. of the Declarations is deleted and replaced by the following:

Item 6. Aggregate Quota Share Layer Limit of Liability: $50,000,000

Maximum aggregate Limit of Liability for all Claims made during the Policy Period.

Subject to all of its terms and conditions, this Policy shall provide coverage for Claims in excess of the Underlying Insurance, up to the Insurer’s quota share participation of the aggregate maximum limit stated above. Any Loss within the Aggregate Quota Share Layer Limit of Liability stated above shall be paid pro rata by each of the insurers subscribing to this Aggregate Quota Share Layer Limit of Liability in accordance with the proportion set forth in the Participation Agreement entered into by each such insurer. The participation of such insurers is set forth below in Item 7. of the Declarations. The obligations of such insurers who subscribe to the quota share arrangement are several and not joint, and are limited to the extent of their individual subscriptions. No subscribing insurers is responsible for the obligation of any co-subscribing insurer.

The Insurer's participation is set forth at Item 12. of the Declarations. The Insurer has full claims and underwriting control of its portion of the quota share arrangement and no action or omission by any of the co-subscribing insurers shall bind the Insurer or be deemed a waiver of any coverage defense the Insurer has under this Policy or available at law. The Insurer shall act on its own behalf with respect to all other matters concerning this Policy, and no other insurer subscribing to the Policy may act on behalf of or bind the Insurer with respect to the Policy terms or any matter concerning the Policy. All notices by an Insured to the Insurer under this Policy shall be provided to the Insurer at the address specified in the Declarations.

2. The Declarations are amended by the addition of the following:

Item 12.

Insurer's Quota-Share Participation: 10%

EDO.008 (7/08)

Page 1 of 2

Insurer's Limit of Liability:

$5,000,000

The Insurer agrees to pay on behalf of the Insured under the Policy that proportion of covered Loss set forth above in the manner provided under Item 3. of the Declarations and in full conformance with all the terms and conditions of the Policy.


3. Ite			m 7. of the Declarations is amended by adding the following:
Quota Share Layer Attachment Point:	$	100,000,000
Quota Share Participant		Policy Number		Limit of Liability
National Casualty Company		XJO2208785		$10,000,000 part of $50,000,000
Twin City Fire Insurance Company		08 FI 0252161 -22		$10,000,000 part of $50,000,000
Tokio Marine HCC		24-MGU-22-A54576		$8,000,000 part of $50,000,000
Everest Reinsurance Company		FL5FD00012-221		$7,000,000 part of $50,000,000
Lloyd’s America, Inc.		13016	P22	$5,000,000 part of $50,000,000
XL Specialty Insurance Company		ELU183647-22		$5,000,000 part of $50,000,000
Ironshore Indemnity Inc.		FI4NAB095D003		$5,000,000 part of $50,000,000

4.	Item 5. of the Declarations is deleted and replaced by the following:


Item 5.	Total Quota Share Layer Premium:	$	156,528
	Insurer's Quota-Share Participation Premium:	$	13,503

The Total Quota Share Layer Premium is payable pro rata to each of the insurers subscribing to this Quota Share Layer in accordance with the proportion set forth in its Participation Agreement.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.

EDO.008 (7/08)

Page 2 of 2


	IRONSHORE INDEMNITY INC. (A Stock Company) 175 Berkeley Street Boston, MA 02116 Toll Free: (877) IRON411


Endorsement # 4

Policy Number: FI4NAB095D003	Effective Date of Endorsement: July 01, 2022

Insured Name: Fidelity Equity & High Income Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

TIE-IN LIMITS

It is hereby understood and agreed as follows:

Any payment of Loss under this Policy shall serve to reduce the Limit of Liability under Policy Number IA7NAB0949003. Any payment of Loss under Policy Number IA7NAB0949003 shall serve to reduce the Limit of Liability of this Policy. It is understood and agreed that only one Limit of Liability shall apply to any Loss that may be insured by this Policy and Policy Number IA7NAB0949003 and in no event will the Limit of Liability of this Policy and the Limit of Liability of Policy Number IA7NAB0949003 apply in the aggregate to any Loss arising from a Wrongful Act or Related Wrongful Acts.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS OF THIS POLICY REMAIN UNCHANGED.

EXC.END.049 (0913)

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Liberty Mutual Group California Privacy Notice

Commercial Lines (excluding Workers’ Compensation)
(Effective January 1, 2020)

Liberty Mutual Group and its affiliates, subsidiaries, and partners (collectively “Liberty Mutual” or “we”, “us” and “our”) provide insurance to companies and other insurers. This Privacy Notice explains how we gather use, and share your data. This Privacy Notice applies to you if you are a Liberty Mutual commercial line insured or are a commercial line claimant residing in California. It does not apply to covered employees or claimants under Workers’ Compensation policies. If this notice does not apply to you, go to libertymutual.com/privacy to review the applicable Liberty Mutual privacy notice.

What Data Does Liberty Mutual Gather?

We may collect the following categories of data:

Identifiers, including a real name, alias, postal address, unique personal identifier, online identifier, Internet Protocol address, email address, account name, Social Security Number, driver’s license number, or other similar identifiers;
Personal information described in California Civil Code § 1798.80(e), such as your name, signature, Social Security Number, physical characteristics or description, address, telephone number, driver’s license or state identification card number, insurance policy number, education, employment, employment history, bank account number, financial information, medical information, or health insurance information;
Protected classification characteristics, including age, race, color, national origin, citizenship, religion or creed, marital status, medical condition, physical or mental disability, sex (including gender, gender identity, gender expression, pregnancy or childbirth and related medical conditions), sexual orientation, or veteran or military status;
Commercial information, including records of personal property, products or services purchased, obtained, or considered, or other purchasing or consuming histories and tendencies;
Internet or other similar network activity, including browsing history, search history, information on a consumer’s interaction with a website, application, or advertisement;
Professional or employment related information, including current or past job history or performance evaluations;
Inferences drawn from other personal information, such as a profile reflecting a person’s preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes;
Risk data, including data about your driving and/or accident history; this may include data from consumer reporting agencies, such as your motor vehicle records and loss history information, health data, or criminal convictions; and
Claims data, including data about your previous and current claims, which may include data regarding your health, criminal convictions, third party reports, or other personal data.

For information about the types of personal data we have collected about California consumers in the past twelve (12) months, please go to libertymutual.com/privacy and click on the link for the California Supplemental Privacy Policy.

How We Get the Personal Data:

We gather your personal data directly from you.
For example, you provide us with data when you:

§ ask about, buy insurance or file a claim

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We also gather your personal data from other people. For
example:

§ your insurance agent or broker

1


§ pay your policy	§ your employer, association or business (if you are insured through them)

§ visit our websites, call us, or visit our office	§ our affiliates or other insurance companies about your transactions with them § consumer reporting agencies, Motor Vehicle Departments, and inspection services, to gather your credit history, driving record, claims history, or value and condition of your property § other public directories and sources § third parties, including other insurers, brokers and insurance support organizations who you have communicated with about your policy or claim, anti-fraud databases, sanctions lists, court judgments and other databases, government agencies, open electoral register or in the event of a claim, third parties including other parties to the claim witnesses, experts loss adjustors and claim handlers § other third parties who take out a policy with us and are required to provide your data such as when you are named as a beneficiary or where a family member has taken out a policy which requires your personal data

For information about how we have collected personal data in the past twelve (12) months, please go to libertymutual.com/privacy and click on the link for the California Supplemental Privacy Policy.

How Does Liberty Mutual Use My Data?

Liberty Mutual uses your data to provide you with our products and services, and as otherwise provided in this Privacy Notice. Your data may be used to:


Business Purpose		Data Categories
Market, sell and provide insurance. This includes		·	Identifiers
for example:		·	Personal Information
·	calculating your premium;	·	Protected Classification Characteristics
·	determining your eligibility for a quote;	·	Commercial Information
·	confirming your identity and service your	·	Internet or other similar network activity
	policy;	·	Professional or employment related information
		·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data
Manage your claim. This includes, for example:		·	Identifiers
·	managing your claim, if any;	·	Personal Information
·	conducting claims investigations;	·	Protected Classification Characteristics
·	conducting medical examinations;	·	Commercial Information
·	conducting inspections, appraisals;	·	Internet or other similar network activity
·	providing roadside assistance;	·	Professional or employment related information
·	providing rental car replacement, or repairs;	·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data

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Day to Day Business and Insurance Operations.		·	Identifiers
This includes, for example:		·	Personal Information
·	creating, maintaining, customizing and securing	·	Protected Classification Characteristics
	accounts;	·	Commercial Information
·	supporting day-to-day business and insurance	·	Internet or other similar network activity
	related functions;	·	Professional or employment related information
·	doing internal research for technology	·	Inferences drawn from other personal information
	development;	·	Risk data
·	marketing and creating products and services;	·	Claims data
·	conducting audits related to a current contact
	with a consumer and other transactions;
·	as described at or before the point of gathering
	personal data or with your authorization;
Security and Fraud Detection. This includes for		·	Identifiers
example:		·	Personal Information
·	detecting security issues;	·	Protected Classification Characteristics
·	protecting against fraud or illegal activity, and	·	Commercial Information
	to comply with regulatory and law enforcement	·	Internet or other similar network activity
	authorities;	·	Professional or employment related information
·	managing risk and securing our systems, assets,	·	Inferences drawn from other personal information
	infrastructure and premises; roadside	·	Risk data
	assistance, rental car replacement, or repairs	·	Claims data
·	help to ensure the safety and security of Liberty
	staff, assets and resources, which may include
	physical and virtual access controls and access
	rights management;
·	supervisory controls and other monitoring and
	reviews, as permitted by law; and emergency
	and business continuity management;
Regulatory and Legal Requirements. This includes		·	Identifiers
for example:		·	Personal Information
·	controls and access rights management;	·	Protected Classification Characteristics
·	to evaluate or conduct a merger, divestiture,	·	Commercial Information
	restructuring, reorganization, dissolution, or	·	Internet or other similar network activity
	other sale or transfer of some or all of Liberty’s	·	Professional or employment related information
	assets, whether as a going concern or as part of	·	Inferences drawn from other personal information
	bankruptcy, liquidation, or similar proceeding,	·	Risk data
	in which personal data held by Liberty is	·	Claims data
	among the assets transferred;
·	exercising and defending our legal rights and
	positions;
·	to meet Liberty contract obligations;
·	to respond to law enforcement requests and as
	required by applicable law, court order, or
	governmental regulations;
·	as otherwise permitted by law.
Improve Your Customer Experience and Our		·	Identifiers
Products. This includes for example:		·	Personal Information
		·	Commercial Information

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·	improve your customer experience, our	·	Internet or other similar network activity
	products and service;	·	Professional or employment related information
·	to provide, support, personalize and develop	·	Inferences drawn from other personal information
	our website, products and services;	·	Risk data
·	create and offer new products and services;	·	Claims data
Analytics to identify, understand and manage our		·	Identifiers
risks and products. This includes for example:		·	Personal Information
·	conducting analytics to better identify,	·	Protected Classification Characteristics
	understand and manage risk and our products;	·	Commercial Information
		·	Internet or other similar network activity
		·	Professional or employment related information
		·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data
Customer service and technical support. This		·	Identifiers
includes for example:		·	Personal Information
·	answer questions and provide notifications;	·	Commercial Information
·	provide customer and technical support;	·	Internet or other similar network activity
		·	Professional or employment related information
		·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data
How Does Liberty Mutual Share My Data?

Liberty Mutual does not sell your personal data as defined by the California Consumer Privacy Act.

Liberty Mutual shares personal data of California consumers with the following categories of third parties:

Liberty Mutual affiliates;
Service Providers;
Public entities and institutions (e.g. regulatory, quasi-regulatory, tax or other authorities, law enforcement agencies, courts, arbitrational bodies, and fraud prevention agencies);
Professional advisors including law firms, accountants, auditors, and tax advisors;
Insurers, re-insurers, policy holders, and claimants; and
As permitted by law.

Liberty Mutual shares the following categories of personal data regarding California consumers to service providers for business purposes:


Identifiers	Personal Data;
Protected Classification Characteristics;	Commercial Information;
Internet or other similar network activity;	Claims Data;
Inferences drawn from other personal information;	Risk Data;
Professional, employment, and education information;
For information about how we have shared personal information in the past twelve (12)		months,	please	go	to
libertymutual.com/privacy and click on the link for the California Supplemental Privacy Policy.

What Privacy Rights Do I Have?

The California Consumer Privacy Act provides California residents with specific rights regarding personal information.

These rights are subject to certain exceptions. Our response may be limited as permitted under law.

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Access or Deletion

You may have the right to request that Liberty Mutual disclose certain information to you about our collection and use of your personal data in the twelve (12) months preceding such request, including a copy of the personal data we have collected. You also may have the right to request that Liberty Mutual delete personal data that Liberty Mutual collected from you, subject to certain exceptions.

Specifically, you have the right to request that we disclose the following to you, in each case for the twelve (12) month period preceding your request:

the categories of personal data we have collected about you;
the categories of sources from which the personal data was/is collected;
our business or commercial purpose for collecting personal data;
the categories of third parties with whom we share personal data;
the specific pieces of data we have collected about you;
the categories of personal data about you, if any, that we have disclosed for monetary or other valuable consideration, including the categories of third parties to which we have disclosed the data, by category or categories of personal data for each third party to which we disclosed the personal data; and
the categories of personal data about you that we disclosed for a business purpose.

You can make a request by either:

Calling: 800-344-0197


Online: Mail:	libertymutualgroup.com/privacy-policy/data-request Liberty Mutual Insurance Company 175 Berkeley St., 6^thFloor Boston, MA 02116 Attn: Privacy Office

You may also make a verifiable consumer request on behalf of your minor child.

You or your authorized agent may only make a verifiable consumer request for access or data deletion twice within a twelve (12) month period. The verifiable consumer request must provide sufficient information that allows Liberty Mutual to reasonably verify that you are the person about whom Liberty Mutual collected personal data or an authorized representative of such person; and describe your request with sufficient detail that allows Liberty Mutual to properly understand, evaluate, and respond to it. For more information about how Liberty Mutual will verify your identity and how an authorized agent may make a request on your behalf, go to libertymutual.com/privacy and click on the California Supplemental Privacy Policy.

Response Timing

Liberty Mutual will respond to a verifiable consumer request within forty-five (45) days of its receipt. If more time is needed, Liberty Mutual will inform you of the reason and extension period in writing.

Any disclosures that will be provided will only cover the twelve (12) month period preceding our receipt of the verifiable consumer request. If Liberty Mutual is unable to fulfill your request, you will be provided with the reason that the request cannot be completed. For more information about how we will respond to requests, go to libertymutual.com/privacy and click on the California Supplemental Privacy Policy.

Rights to opt in and out of data selling

California consumers have the right to direct businesses not to sell your personal data (opt-out rights), and personal data of minors under 16 years of age will not be sold, as is their right, without theirs or their parents' opt-in consent. Liberty Mutual does not sell the personal data of consumers. For more information, go to libertymutual.com/privacy and click on the California Supplemental Privacy Policy.

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No account needed

You do not need to create an account with Liberty Mutual to exercise your rights. Liberty Mutual will only use personal data provided in a request to review and comply with the request.

No discrimination

You have the right not to be discriminated against for exercising any of your CCPA rights. Unless permitted by the CCPA, exercising your rights will not cause Liberty Mutual to:

Deny you goods or services;
Charge you different prices or rates for goods or services, including through granting discounts or other benefits, or imposing penalties;
Provide you a different level or quality of goods or services; or
Suggest that you may receive a different price or rate for goods or services, or a different level or quality of goods or services.

Will Liberty Mutual Update This Privacy Notice?

We reserve the right to makes changes to this notice at any time and for any reason. The updated version of this policy will be effective once it is accessible. You are responsible for reviewing this policy to stay informed of any changes or updates.

Who Do I Contact Regarding Privacy?

If you have any questions or comments about this Notice or the Supplemental CCPA Notice, your rights, or are requesting the Notice in an alternative format, please do not hesitate to contact Liberty Mutual at:

Phone: Email:

Postal Address:

800-344-0197 privacy@libertymutual.com

Liberty Mutual Insurance Company 175 Berkeley St., 6^thFloor Boston, MA 02116 Attn: Privacy Office

Version 1.0 (last updated October 13, 2019)

AXA XL - Professional Insurance
100 Constitution Plaza, 17^thFloor,
Hartford, CT 06103
Phone 860-246-1863, Fax 860-246-1899

August 9, 2022

Mary Coughlin
Willis Towers Watson Northeast Inc
75 Arlington Street
Floor 10
Boston, MA 02116

Re: Fidelity Equity and High Income Funds
Excess Policy

Dear Mary,

Enclosed, please find the policy for Fidelity Equity and High Income Funds. Thank you for choosing AXA XL

Insurance. Please call if you have any questions or concerns.

Sincerely,

Bill Caporale

ko


Policy Number:	ELU183617-22	XL Specialty Insurance Company
Renewal of Number:	ELU175956-21	(Hereafter called the Insurer)

	EXCESS POLICY DECLARATIONS

Executive Offices:

70 Seaview Avenue Stamford, CT 06902-6040 Telephone 877-953-2636

Regulatory Office:

505 Eagleview Blvd., Ste. 100 Exton, PA 19341-1120 Telephone: 800-327-1414

THIS IS A CLAIMS MADE POLICY. EXCEPT AS OTHERWISE PROVIDED HEREIN, THIS POLICY ONLY APPLIES TO CLAIMS FIRST MADE DURING THE POLICY PERIOD. THE LIMIT OF LIABILITY AVAILABLE TO PAY DAMAGES OR SETTLEMENTS SHALL BE REDUCED AND MAY BE EXHAUSTED BY THE PAYMENT OF DEFENSE EXPENSES. THIS POLICY DOES NOT PROVIDE FOR ANY DUTY BY THE INSURER TO DEFEND ANY INSURED. PLEASE READ AND REVIEW THE POLICY CAREFULLY.

Item 1. Name and Mailing Address of Insured Entity:

Fidelity Equity and High Income Funds
c/o FMR LLC
88 Black Falcon
First Floor, East Side, Suite167
Mailzone V7E
Boston, MA 02210

The Insured Entity will be the sole agent for and will act on behalf of the Insured with respect to all matters under this Policy.


Item 2.	Policy Period:	From:	July 01, 2022	To:		July 01, 2023

		At 12:01AM Standard Time at your Mailing Address Shown Above

Item 3.	Limit of Liability:

	$5,000,000 part of $50,000,000 Aggregate each Policy Period (including Defense Expenses)

Item 4.	Schedule of Underlying Insurance:

			Insurer	Policy No					Limit of Liability
			Berkshire Hathaway
(a)	Primary Policy		Specialty Insurance
			Company	47-EPF-315882-02				$	15,000,000
			Federal Insurance
(b)	Underlying Excess Policy		Company	82484869				$	10,000,000
			National Union Fire
			Insurance Company of
			Pittsburgh PA	01-317-28-50				$	10,000,000
			ICI Mutual Insurance
			Company	87153322	B			$	15,000,000
			Allied World Assurance
			Company, AG	C014840/012				$	15,000,000
			Travelers Casualty and
			Surety Company of
			America	106547262				$	10,000,000
			Continental Casualty
			Company	287042220				$	10,000,000
			AXIS Insurance
			Company	P-001-000158021-03				$	5,000,000 part of $15,000,000
			Starr Indemnity &
			Liability Company	1000059071221				$	10,000,000 part of $15,000,000
			Lloyd's of London	B080113016			P22	$	5,000,000 part of $50,000,000

XS 70 01 05 14									Page 1 of 2

2014 X.L. America, Inc. All Rights Reserved. May not be copied without permission.


	National Casualty
	Company		XJO2208785	$10,000,000 part of $50,000,000
	Twin City Fire
	Insurance Company		08 FI 0252161 -22	$10,000,000 part of $50,000,000
	US Specialty Insurance
	Company		24-MGU-22-A54574	$8,000,000 part of $50,000,000
	Everest Reinsurance
	Company		FL5FD00012-221	$7,000,000 part of $50,000,000
	Ironshore Indemnity
	Inc.		FI4NAB095D003	$5,000,000 part of $50,000,000

Item 5.	Notices required to be given to the Insurer must be addressed to:
	XL Professional Insurance
	100 Constitution Plaza, 17^thFloor
	Hartford, CT 06103
	by electronic mail (email) to: proclaimnewnotices@axaxl.com.
	Toll Free Telephone: 877-953-2636

Item 6.	Premium:

	Taxes, Surcharges or Fees:	$	0.00
	Total Policy Premium:	$	15,589.00

Item 7.	Policy Forms and Endorsements Attached at Issuance:

	XS 71 00 05 14 XS 80 07 12 14 XL 83 23 09 00

THESE DECLARATIONS AND THE POLICY, WITH THE ENDORSEMENTS, ATTACHMENTS, AND THE APPLICATION SHALL CONSTITUTE THE

ENTIRE AGREEMENT BETWEEN THE INSURER AND THE INSURED RELATING TO THIS INSURANCE.

XS 70 01 05 14

Page 2 of 2

2014 X.L. America, Inc. All Rights Reserved. May not be copied without permission.

IN WITNESS

XL SPECIALTY INSURANCE COMPANY

REGULATORY OFFICE

505 EAGLEVIEW BOULEVARD, SUITE 100

DEPARTMENT: REGULATORY

EXTON, PA 19341-1120

PHONE: 800-688-1840

It is hereby agreed and understood that the following In Witness Clause supercedes any and all other In Witness clauses in this policy.

All other provisions remain unchanged.

IN WITNESS WHEREOF, the Insurer has caused this policy to be executed and attested, and, if required by state law, this policy shall not be valid unless countersigned by a duly authorized representative of the Insurer.


Joseph Tocco President	Toni Ann Perkins Secretary

LAD 400 0915 XLS

2015 X.L. America, Inc. All Rights Reserved. May not be copied without permission.

POLICYHOLDER DISCLOSURE
NOTICE OF TERRORISM
INSURANCE COVERAGE

Coverage for acts of terrorism is included in your policy. You are hereby notified that the Terrorism Risk Insurance

Act, as amended in 2019, defines an act of terrorism in Section 102(1) of the Act: The term “act of terrorism” means any act or acts that are certified by the Secretary of the Treasury - in consultation with the Secretary of Homeland Security, and the Attorney General of the United States —to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. Under your coverage, any losses resulting from certified acts of terrorism may be partially reimbursed by the United States Government under a formula established by the Terrorism Risk Insurance Act, as amended. However, your policy may contain other exclusions which might affect your coverage, such as an exclusion for nuclear events. Under the formula, the United States Government generally reimburses 80% beginning on January

1, 2020, of covered terrorism losses exceeding the statutorily established deductible paid by the insurance company providing the coverage. The Terrorism Risk Insurance Act, as amended, contains a $100 billion cap that limits U.S. Government reimbursement as well as insurers’ liability for losses resulting from certified acts of terrorism when the amount of such losses exceeds $100 billion in any one calendar year. If the aggregate insured losses for all insurers exceed $100 billion, your coverage may be reduced.

The portion of your annual premium that is attributable to coverage for acts of terrorism is waived and does not include any charges for the portion of losses covered by the United States government under the Act.

PN161 12 20 T

Includes copyrighted material of National Association of Insurance Commissioners, with its permission.

NOTICE TO POLICYHOLDERS

U.S. TREASURY DEPARTMENT’S OFFICE OF FOREIGN ASSETS CONTROL

(“OFAC”)

No coverage is provided by this Policyholder Notice nor can it be construed to replace any provisions of your policy. You should read your policy and review your Declarations page for complete information on the coverages you are provided.

This Policyholder Notice provides information concerning possible impact on your insurance coverage due to the impact of U.S. Trade Sanctions¹. Please read this Policyholder Notice carefully.

In accordance with the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) regulations, or any other U.S. Trade Sanctions applied by any regulatory body, if it is determined that you or any other insured, or any person or entity claiming the benefits of this insurance has violated

U.S. sanctions law, is a Specially Designated National and Blocked Person (“SDN”), or is owned or controlled by an SDN, this insurance will be considered a blocked or frozen contract. When an insurance policy is considered to be such a blocked or frozen contract, neither payments nor premium refunds may be made without authorization from OFAC. Other limitations on the premiums and payments also apply.

¹“U.S Trade Sanctions” may be promulgated by Executive Order, act of Congress, regulations from the

U.S. Departments of State, Treasury, or Commerce, regulations from the State Insurance Departments, etc.

PN CW 05 0519

Includes copyrighted material of Insurance Services Office, Inc., with its permission.

NOTICE TO POLICYHOLDERS

PRIVACY POLICY

The AXA XL insurance group (the “Companies”), believes personal information that we collect about our customers, potential customers, and proposed insureds (referred to collectively in this Privacy Policy as “customers”) must be treated with the highest degree of confidentiality. For this reason and in compliance with the Title V of the Gramm-Leach-Bliley Act (“GLBA”), we have developed a Privacy Policy that applies to all of our companies. For purposes of our Privacy Policy, the term “personal information” includes all information we obtain about a customer and maintain in a personally identifiable way. In order to assure the confidentiality of the personal information we collect and in order to comply with applicable laws, all individuals with access to personal information about our customers are required to follow this policy.

Our Privacy Promise

Your privacy and the confidentiality of your business records are important to us. Information and the analysis of information is essential to the business of insurance and critical to our ability to provide to you excellent, cost-effective service and products. We understand that gaining and keeping your trust depends upon the security and integrity of our records concerning you. Accordingly, we promise that:

1.	We will follow strict standards of security and confidentiality to protect any information you share with us or information that we receive about you;
2.	We will verify and exchange information regarding your credit and financial status only for the purposes of underwriting, policy administration, or risk management and only with reputable references and clearinghouse services;
3.	We will not collect and use information about you and your business other than the minimum amount of information necessary to advise you about and deliver to you excellent service and products and to administer our business;
4.	We will train our employees to handle information about you or your business in a secure and confidential manner and only permit employees authorized to use such information to have access to such information;
5.	We will not disclose information about you or your business to any organization outside the XL Catlin insurance group of Companies or to third party service providers unless we disclose to you our intent to do so or we are required to do so by law;
6.	We will not disclose medical information about you, your employees, or any claimants under any policy of insurance, unless you provide us with written authorization to do so, or unless the disclosure is for any specific business exception provided in the law;
7.	We will attempt, with your help, to keep our records regarding you and your business complete and accurate, and will advise you how and where to access your account information (unless prohibited by law), and will advise you how to correct errors or make changes to that information; and
8.	We will audit and assess our operations, personnel and third party service providers to assure that your privacy is respected.

Collection and Sources of Information

We collect from a customer or potential customer only the personal information that is necessary for (a) determining eligibility for the product or service sought by the customer, (b) administering the product or service obtained, and (c) advising the customer about our products and services. The information we collect generally comes from the following sources:

Submission – During the submission process, you provide us with information about you and your business, such as your name, address, phone number, e-mail address, and other types of personal identification information;
Quotes – We collect information to enable us to determine your eligibility for the particular insurance product and to determine the cost of such insurance to you. The information we collect will vary with the type of insurance you seek;

PN CW 02 0119

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NOTICE TO POLICYHOLDERS

Transactions – We will maintain records of all transactions with us, our affiliates, and our third party service providers, including your insurance coverage selections, premiums, billing and payment information, claims history, and other information related to your account;
Claims – If you obtain insurance from us, we will maintain records related to any claims that may be made under your policies. The investigation of a claim necessarily involves collection of a broad range of information about many issues, some of which does not directly involve you. We will share with you any facts that we collect about your claim unless we are prohibited by law from doing so. The process of claim investigation, evaluation, and settlement also involves, however, the collection of advice, opinions, and comments from many people, including attorneys and experts, to aid the claim specialist in determining how best to handle your claim. In order to protect the legal and transactional confidentiality and privileges associated with such opinions, comments and advice, we will not disclose this information to you; and
Credit and Financial Reports – We may receive information about you and your business regarding your credit. We use this information to verify information you provide during the submission and quote processes and to help underwrite and provide to you the most accurate and cost-effective insurance quote we can provide.

Retention and Correction of Personal Information

We retain personal information only as long as required by our business practices and applicable law. If we become aware that an item of personal information may be materially inaccurate, we will make reasonable effort to re-verify its accuracy and correct any error as appropriate.

Storage of Personal Information

We have in place safeguards to protect data and paper files containing personal information.

Sharing/Disclosing of Personal Information

We maintain procedures to assure that we do not share personal information with an unaffiliated third party for marketing purposes unless such sharing is permitted by law. Personal information may be disclosed to an unaffiliated third party for necessary servicing of the product or service or for other normal business transactions as permitted by law.

We do not disclose personal information to an unaffiliated third party for servicing purposes or joint marketing purposes unless a contract containing a confidentiality/non-disclosure provision has been signed by us and the third party. Unless a consumer consents, we do not disclose “consumer credit report” type information obtained from an application or a credit report regarding a customer who applies for a financial product to any unaffiliated third party for the purpose of serving as a factor in establishing a consumer’s eligibility for credit, insurance or employment. “Consumer credit report type information” means such things as net worth, credit worthiness, lifestyle information (piloting, skydiving, etc.) solvency, etc. We also do not disclose to any unaffiliated third party a policy or account number for use in marketing. We may share with our affiliated companies information that relates to our experience and transactions with the customer.

Policy for Personal Information Relating to Nonpublic Personal Health Information

We do not disclose nonpublic personal health information about a customer unless an authorization is obtained from the customer whose nonpublic personal information is sought to be disclosed. However, an authorization shall not be prohibited, restricted or required for the disclosure of certain insurance functions, including, but not limited to, claims administration, claims adjustment and management, detection, investigation or reporting of actual or potential fraud, misrepresentation or criminal activity, underwriting, policy placement or issuance, loss control and/or auditing.

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NOTICE TO POLICYHOLDERS

Access to Your Information

Our employees, employees of our affiliated companies, and third party service providers will have access to information we collect about you and your business as is necessary to effect transactions with you. We may also disclose information about you to the following categories of person or entities:

Your independent insurance agent or broker;
An independent claim adjuster or investigator, or an attorney or expert involved in the claim;
Persons or organizations that conduct scientific studies, including actuaries and accountants;
An insurance support organization;
Another insurer if to prevent fraud or to properly underwrite a risk;
A state insurance department or other governmental agency, if required by federal, state or local laws; or
Any persons entitled to receive information as ordered by a summons, court order, search warrant, or subpoena.

Violation of the Privacy Policy

Any person violating the Privacy Policy will be subject to discipline, up to and including termination.

For more information or to address questions regarding this privacy statement, please contact your broker.

PN CW 02 0119

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	NOTICE TO POLICYHOLDERS FRAUD NOTICE


Alabama	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or who knowingly presents false information in an application for insurance is guilty of a crime and may be subject to restitution fines or confinement in prison, or any combination thereof.
Arkansas	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
California	General: All applications for commercial insurance, other than liability insurance: Any person who knowingly and willfully presents false information in an application for insurance may be guilty of insurance fraud and subject to fines and confinement in prison. All applications for liability insurance and all claim forms: For your protection California law requires the following to appear on this form: Any person who knowingly presents false or fraudulent information to obtain or amend insurance coverage or to make a claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison.
Colorado	It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies.
District of Columbia	WARNING: It is a crime to provide false or misleading information to an insurer for the purpose of defrauding the insurer or any other person. Penalties include imprisonment and/or fines. In addition, an insurer may deny insurance benefits if false information materially related to a claim was provided by the applicant.
Florida	Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing any false, incomplete, or misleading information is guilty of a felony of the third degree.
Kansas	A "fraudulent insurance act" means an act committed by any person who, knowingly and with intent to defraud, presents, causes to be presented or prepares with knowledge or belief that it will be presented to or by an insurer, purported insurer, broker or any agent thereof, any written, electronic, electronic impulse, facsimile, magnetic, oral, or telephonic communication or statement as part of, or in support of, an application for the issuance of, or the rating of an insurance policy for personal or commercial insurance, or a claim for payment or other benefit pursuant to an insurance policy for commercial or personal insurance that such person knows to contain materially false information concerning any fact material thereto; or conceals, for the purpose of misleading, information concerning any fact material thereto.
Kentucky	Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance containing any materially false information or conceals, for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime.
Louisiana	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
Maine	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties may include

PN CW 01 0122	Page 1 of 3 © 2022 X.L. America, Inc. All Rights Reserved. May not be copied without permission.


	NOTICE TO POLICYHOLDERS imprisonment, fines, or denial of insurance benefits.
Maryland	Any person who knowingly or willfully presents a false or fraudulent claim for payment of a loss or benefit or who knowingly or willfully presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
New Jersey	Any person who includes any false or misleading information on an application for an insurance policy is subject to criminal and civil penalties.
New Mexico	ANY PERSON WHO KNOWINGLY PRESENTS A FALSE OR FRAUDULENT CLAIM FOR PAYMENT OF A LOSS OR BENEFIT OR KNOWINGLY PRESENTS FALSE INFORMATION IN AN APPLICATION FOR INSURANCE IS GUILTY OF A CRIME AND MAY BE SUBJECT TO CIVIL FINES AND CRIMINAL PENALTIES.
New York	General: All applications for commercial insurance, other than automobile insurance: Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime, and shall also be subject to a civil penalty not to exceed five thousand dollars and the stated value of the claim for each such violation. All applications for automobile insurance and all claim forms: Any person who knowingly makes or knowingly assists, abets, solicits or conspires with another to make a false report of the theft, destruction, damage or conversion of any motor vehicle to a law enforcement agency, the department of motor vehicles or an insurance company, commits a fraudulent insurance act, which is a crime, and shall also be subject to a civil penalty not to exceed five thousand dollars and the value of the subject motor vehicle or stated claim for each violation. Fire: Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance containing any false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime. The proposed insured affirms that the foregoing information is true and agrees that these applications shall constitute a part of any policy issued whether attached or not and that any willful concealment or misrepresentation of a material fact or circumstances shall be grounds to rescind the insurance policy.
Ohio	Any person who, with intent to defraud or knowing that he is facilitating a fraud against an insurer, submits an application or files a claim containing a false or deceptive statement is guilty of insurance fraud.
Oklahoma	WARNING: Any person who knowingly, and with intent to injure, defraud or deceive any insurer, makes any claim for the proceeds of an insurance policy containing any false, incomplete or misleading information is guilty of a felony.

WARNING: All Workers Compensation Insurance:

Any person or entity who makes any material false statement or representation, who willfully and knowingly omits or conceals any material information, or who employs any device, scheme, or artifice, or who aids and abets any person for the purpose of:

1.	obtaining any benefit or payment,
2.	increasing any claim for benefit or payment, or
3.	obtaining workers' compensation coverage under the Administrative Workers' Compensation Act, shall be guilty of a felony punishable pursuant to Section 1663 of Title 21 of the Oklahoma Statutes.

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	NOTICE TO POLICYHOLDERS


Pennsylvania	Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties. Automobile Insurance: Any person who knowingly and with intent to injure or defraud any insurer files an application or claim containing any false, incomplete or misleading information shall, upon conviction, be subject to imprisonment for up to seven years and the payment of a fine of up to $15,000.
Puerto Rico	Any person who knowingly and with the intention of defrauding presents false information in an insurance application, or presents, helps, or causes the presentation of a fraudulent claim for the payment of a loss or any other benefit, or presents more than one claim for the same damage or loss, shall incur a felony and, upon conviction, shall be sanctioned for each violation by a fine of not less than five thousand dollars ($5,000) and not more than ten thousand dollars ($10,000), or a fixed term of imprisonment for three (3) years, or both penalties. Should aggravating circumstances [be] present, the penalty thus established may be increased to a maximum of five (5) years, if extenuating circumstances are present, it may be reduced to a minimum of two (2) years.
Rhode Island	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
Tennessee	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits. Workers’ Compensation: It is a crime to knowingly provide false, incomplete or misleading information to any party to a workers’ compensation transaction for the purpose of committing fraud. Penalties include imprisonment, fines and denial of insurance benefits.
Utah	Workers’ Compensation: Any person who knowingly presents false or fraudulent underwriting information, files or causes to be filed a false or fraudulent claim for disability compensation or medical benefits, or submits a false or fraudulent report or billing for health care fees or other professional services is guilty of a crime and may be subject to fines and confinement in state prison.
Virginia	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits.
Washington	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits.
West Virginia	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
All Other States	Any person who knowingly and willfully presents false information in an application for insurance may be guilty of insurance fraud and subject to fines and confinement in prison. (In Oregon, the aforementioned actions may constitute a fraudulent insurance act which may be a crime and may subject the person to penalties).

PN CW 01 0122

Page 3 of 3

XS 80 07 12 14

Endorsement No.: 1

Named Insured: Fidelity Equity and High Income Funds

Policy No.: ELU183617-22

Effective: July 01, 2022

12:01 A.M. Standard Time

Insurer: XL Specialty Insurance Company

EXCESS ENDORSEMENT

In consideration of the premium charged:

(1)

It is understood and agreed that the Limit of Liability for this Policy as set forth in Item 3 of the Declarations is the maximum amount payable, including Defense Expenses, by the Insurer under this Policy. Any provision of the Underlying Insurance indicating any ability or right to any reinstatement of such policy's limit of liability shall be inapplicable to this Policy, including any provision indicating a reinstatement of such policy's limit of liability during any extended discovery or reporting period. The Insurer shall not be liable to the Insureds or any other person or entity claiming through or in the name or right of the Insureds for any loss or other liability based upon, arising out of, directly or indirectly resulting from, in consequence of, or in any way involving the application or enforcement of any such provision of the Underlying Insurance.

(2)

It is understood and agreed that the Insurer is under no obligation to renew this Policy upon its expiration. Any provision of the Underlying Insurance indicating any automatic renewal of this Policy shall be inapplicable to this Policy. The Insurer shall not be liable to the Insureds or any other person or entity claiming through or in the name or right of the Insureds for any loss or other liability based upon, arising out of, directly or indirectly resulting from, in consequence of, or in any way involving the application or enforcement of any such provision of the Underlying Insurance.

All other terms, conditions and limitations of this Policy shall remain unchanged.

XS 80 07 12 14

Page 1 of 1

2015 X.L. America, Inc. All Rights Reserved. May not be copied without permission.

XL 80 23 07 02

Endorsement No.: 2

Named Insured: Fidelity Equity and High Income Funds

Policy No.: ELU175956-21

Effective: July 01, 2021

12:01 A.M. Standard Time

Insurer: XL Specialty Insurance Company

TIE IN LIMITS ENDORSEMENT

In consideration of the premium charged, in addition to this Policy, the Insurer or an affiliated company of the Insurer (any such affiliated company being included within the term "Insurer" for the purposes of this endorsement) has also agreed to issue to the person or entity named in Item 1 of the Declarations the following policy(ies) (such policy(ies), the “Other Policy(ies)”):

Other Policy(ies)

Excess Liability Policy (Mutual Funds, $5,000,000 part of $50,000,000 x $100,000,000), Policy No.

ELU183610-22, Issued by: XL Specialty Insurance Company

It is expressly acknowledged by the person or entity named in Item 1 of the Declarations that the premium for these policies has been negotiated with the understanding that all policies would have shared limits of liability. Therefore, in consideration of the premium charged:

(1)	Any payment of loss or damages, including costs and expenses of defense, under this Policy will reduce the limit of liability available under the Other Policy(ies) for the defense and settlement of, or the payment of any liabilities in connection with, any claim or claims made under the Other Policy(ies).
(2)	Any payment of loss or damages, including costs and expenses of defense, under the Other Policy(ies) will reduce the Limit of Liability available under this Policy for the defense and settlement of, or the payment of any liabilities in connection with, any claim or claims made under this Policy during the Policy Period.
(3)	If the Insurer shall have paid loss or damages, including costs and expenses of defense, under this Policy and loss or damages, including costs and expenses of defense, under the Other Policy(ies) in an aggregate amount equaling $5,000,000 any and all obligations of the Insurer under this Policy will be completely fulfilled and extinguished, and the Insurer will have no further obligations of any kind or nature whatsoever under this Policy.

All other terms, conditions and limitations of this Policy shall remain unchanged.

XL 80 23 07 02

Page 1 of 1

EXCESS POLICY COVERAGE FORM

In consideration of the payment of the premium and in reliance on all statements made and information furnished to the Insurer identified in the Declarations (the Insurer) and to the issuer(s) of the Underlying Insurance, the Insurer and the insureds agree as follows:

I. INSURING AGREEMENT

The Insurer will provide coverage excess of the Underlying Insurance stated in ITEM 4 of the Declarations. Coverage hereunder will apply in conformance with the terms, conditions, endorsements and warranties of both the Primary Policy stated in ITEM 4 (A) of the Declarations and of any other Underlying Excess Policy stated in ITEM 4 (B) of the Declarations. The coverage hereunder will attach only after all of the Underlying Insurance has been exhausted by the actual payment of covered amounts under the Underlying Insurance by the applicable insurers thereunder or by any other source. To the extent that any terms, conditions, and endorsements of the Policy may be inconsistent with any terms, conditions, and endorsements of the Underlying Insurance, the terms, conditions, and endorsements of this Policy shall govern.

II. DEPLETION OF UNDERLYING LIMITS OF LIABILITY

The coverage hereunder shall attach only after the limits of all Underlying Insurance have been exhausted by payment of covered amounts. Subject to the terms, conditions, and endorsements of this Policy and the Underlying Insurance, this Policy will continue to apply to covered amounts as primary insurance in the event of the exhaustion of all of the limits of liability of such Underlying Insurance as the result of the actual payment of covered amounts by the applicable insurer thereunder or by any other source. Any risk of uncollectibility with respect to the Underlying Insurance will be expressly retained by the insureds and will not be assumed by the Insurer.

III. RIGHTS AND CLAIM PARTICIPATION

The Insurer shall have the same rights, privileges and protections afforded to the insurer(s) of the Underlying Insurance and may, at its sole discretion, elect to participate in the investigation, settlement and/or defense of any claim against the insureds even if the Underlying Insurance has not been exhausted. The insureds will provide such information and cooperation as is reasonably requested. The insureds shall not do anything that prejudices the Insurer’s position or potential rights of recovery, including, but not limited to, terminating any Underlying Insurance.

IV. LIMIT OF LIABILITY

The amount stated in ITEM 3 of the Declarations is the limit of liability of the Insurer and shall be the maximum amount payable, including defense expenses, by the Insurer under this Policy. Defense expenses are part of and not in addition to the limit of liability and the payment of such will reduce the limit of liability.

V.	NOTICE, ALTERATION, AND TERMINATION
(A)	Where the Underlying Insurance permits or requires notice to the Insurer, the insureds shall have the same obligations and rights to notify the Insurer under this Policy. All notices required under the Underlying Insurance policies and this Policy shall be sent to the address set forth in ITEM (5) of the Declarations: Attention Claim Department or by electronic mail to: proclaimnewnotices@xlgroup.com. Notice given to any underlying insurer will not be deemed notice to the Insurer.
(B)	No change in or modification of this Policy shall be effective unless made by endorsement. In the event of a change of any kind to any Underlying Insurance that broadens or expands coverage, this Policy will become subject to such change only if and to the extent that the Insurer consents to such change in writing and the insured pays any additional premium that may be required by the Insurer.
(C)	This Policy will terminate immediately upon the termination of any of the Underlying Insurance, whether cancelled by the insured or the applicable insurer. Notice of cancellation or non-renewal of any such policies duly given by any of the applicable insurers shall serve as notice of the cancellation or non-renewal of this Policy by the Insurer.

XS 71 00 05 14

Page 1 of 1

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411

This Policy is issued by the stock insurance company listed above (herein "Insurer").

EXCESS LIABILITY INSURANCE POLICY DECLARATIONS

UNLESS OTHERWISE PROVIDED IN THE FOLLOWED POLICY, THIS POLICY IS A CLAIMS MADE POLICY WHICH COVERS ONLY

CLAIMS FIRST MADE AGAINST THE INSUREDS DURING THE POLICY PERIOD. PLEASE READ THIS POLICY CAREFULLY.

Policy No. FI4NAB095H003
Expiring No. FI4NAB095H002


ITEM 1.	INSURED COMPANY PRINCIPAL ADDRESS:

	Fidelity Fixed Income and Asset Allocation Funds
	c/o FMR LLC
	88 Black Falcon Ave
	First Floor, East Side, Suite 167,
	Mailzone V7E
	Boston, MA 02210

ITEM 2.	COVERAGE PROVIDED:	Excess Fidelity Insurance



ITEM 3.	FOLLOWED POLICY:	FMR FUNDS CONCENTRIC CUSTOM BOND
	INSURER:	Berkshire Hathaway Specialty Insurance Company
	POLICY NUMBER:	47-EPF-315882-02


ITEM 4.	POLICY PERIOD:

	From: July 01, 2022 12:01 A.M. To: July 01, 2023 12:01 A.M.
	(Local time at the address shown in ITEM 1.)

Form: EXC.003; Edited (03.14.08)

Page 1 of 3


ITEM 5.

Premium:			Plus all applicable Taxes, Fees and Surcharges.
	Premium:	$	13,503.00
	----------------------	-	----------------
	Total Amount Due:	$	13,503.00
			See Invoice for the date Premium is due and payable. Failure to pay the
			premium in full may result in voidance of coverage.

ITEM 6.	LIMIT OF LIABILITY/AGGREGATE LIMIT: $5,000,000 for all Loss under all Coverages combined.


ITEM 7.	UNDERLYING POLICY LIMITS/ATTACHMENT POINT: $100,000,000


ITEM 8.	PENDING & PRIOR LITIGATION DATE: August 01, 2008


ITEM 9.	NOTICE TO INSURER:

A.	Notice of Claim, Wrongful Act or Loss:
	Send to Company Indicated Above c/o Ironshore Insurance Services, LLC 28 Liberty Street 5th Floor New York, NY 10005
B.	All other notices:
	Send to Company Indicated Above c/o Ironshore Insurance Services, LLC 28 Liberty Street 5th Floor New York, NY 10005

ITEM 10. BROKER:

Mary Coughlin
WILLIS TOWERS WATSON NORTHEAST INC
Three Copley Place 100 Huntington Avenue
800 Boylston Street SUITE NO 300
Boston, MA 02116

LICENSE #: N/A

ITEM 11. FORMS AND ENDORSEMENTS:

Form: EXC.003; Edited (03.14.08)

Page 2 of 3

Ironshore Indemnity Inc. by:

Form: EXC.003; Edited (03.14.08)

Page 3 of 3

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411

Policy Number: FI4NAB095H003

EXCESS LIABILITY INSURANCE POLICY

I.	INSURING AGREEMENT
	In	consideration of the payment of the premium and in reliance upon all statements made in the application for this
	Policy	and the Followed Policy, including the information furnished in connection therewith, whether directly or through
	public	filing, and subject to all terms, definitions, conditions, exclusions and limitations of this policy, the Insurer agrees
	to	provide insurance coverage to the Insureds in accordance with the terms, definitions, conditions, exclusions and
	limitations	of the Followed Policy, except as may be otherwise provided in this Policy.
II.	LOSS PAYABLE PROVISION
	It	is agreed the Insurer shall pay the Insured as defined in the Followed Policy for Loss by reason of exhaustion by
	payments	of all Underlying Policy Limits of all underlying policies by the underlying insurers issuing such underlying
	policies	and/or the Insureds, subject to i) the terms and conditions of the Followed Policy as that form is submitted to
	the	Insurer; ii) the Limit of Liability as stated in Item 6 of the Declarations; and iii) the terms and conditions of, and the
	endorsements	attached to, this Policy. In no event shall this policy grant broader coverage than would be provided by
	the	Followed Policy.
III.	DEFINITIONS
	A.	The Terms “Insurer” and “Followed Policy” shall have the meanings attributed to them in the Declarations.
	B.	The term "Insureds” means those individuals and entities insured by the Followed Policy.
	C.	The term "Policy Period" means the period set forth in Item 4 of the Declarations.
	D.	The term "Underlying Policy Limits/Attachment Point" means an amount equal to the aggregate of all limits of liability as set forth in Item 7 of the Declarations for all Underlying Policies, plus the uninsured retention, if any, applicable to the Underlying Policies.
IV.	POLICY TERMS
	A.	This policy is subject to the same representations contained in the Application for the Followed Policy and has the same terms, definitions, conditions, exclusions and limitations (except as regards the premium, the limits of liability, the policy period and as may be otherwise in this Policy) as are contained in the Followed Policy.
	B.	If during the Policy Period or any Discovery Period the terms, conditions, exclusions or limitations of the Followed Policy are changed in any manner, the Insureds shall as a condition precedent to their rights to coverage under this policy give to the Insurer written notice of the full particulars thereof and secure the Insurers affirmative consent to such modification before coverage will be effective.

Form: EXC.004; Edited (07.12.07)

Page 1 of 2

Ironshore Indemnity Inc. by:

Form: EXC.004; Edited (07.12.07)

Page 2 of 2

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411


Endorsement # 1

Policy Number: FI4NAB095H003	Effective Date of Endorsement: July 01, 2022
Insured Name: Fidelity Fixed Income and Asset Allocation Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

SANCTION LIMITATION AND EXCLUSION CLAUSE

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS OF THIS POLICY REMAIN UNCHANGED.

ADM-OFAC-0419

Page 1 of 1

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411


Endorsement # 2

Policy Number: FI4NAB095H003	Effective Date of Endorsement: July 01, 2022
Insured Name: Fidelity Fixed Income and Asset Allocation Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

INSURER ADDRESS CHANGE

It is hereby understood and agreed that the street address of the Insurer’s main administrative office and mailing address is changed to:

175 Berkeley Street
Boston, MA 02116

The street address for the Representative of the Insurer and Notice of Claim reporting is changed to: c/o Ironshore Insurance Services LLC.

28 Liberty Street, 5^thFloor
New York, NY 10005

The street address for the Service of Process/Suit provision in this policy is changed to: 175 Berkeley Street Boston, MA 02116

For the purposes of this endorsement:

1.	“Insurer” means the “Insurer”, “Underwriter” or “Company” or other name specifically ascribed in this policy as the insurance company or underwriter for this policy.
2.	“Notice of Claim reporting” means any “notice of claim/circumstance”, “notice of loss”, “notice of wrongful act”, or other such reference in the policy designated for the reporting of claims, loss, acts, occurrences or situations that may give rise or result in loss under this policy.
3.	“Policy” means the policy, bond or other insurance product to which this endorsement is added.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS OF THIS POLICY REMAIN UNCHANGED.

IRON.END.ALL.016 (0419)

Page 1 of 1

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411


Endorsement # 3

Policy Number: FI4NAB095H003	Effective Date of Endorsement: July 01, 2022
Insured Name: Fidelity Fixed Income and Asset Allocation Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

QUOTA SHARE AMENDMENT OF DECLARATIONS (EXCESS)

In consideration of the premium charged, it is hereby understood and agreed that:

1.	Item 6. of the Declarations is deleted and replaced by the following:

Item 6. Aggregate Quota Share Layer Limit of Liability: $50,000,000

Maximum aggregate Limit of Liability for all Claims made during the Policy Period.

2. The Declarations are amended by the addition of the following:

Item 12.


Insurer's Quota-Share Participation:		10	%
Insurer's Limit of Liability:	$	5,000,000

EDO.008 (7/08)

Page 1 of 2


3. Ite			m 7. of the Declarations is amended by adding the following:

Quota Share Layer Attachment Point:	$	100,000,000

Quota Share Participant		Policy Number		Limit of Liability

U.S. Specialty Insurance Company		24-MGU-22-A54576		$8,000,000 part of $50,000,000
Everest Reinsurance Company		FL5FD00135-221		$7,000,000 part of $50,000,000
XL Specialty Insurance Company		ELU183647-22		$5,000,000 part of $50,000,000
Lloyd’s Syndicates: Mosaic Syndicate 1609		B080113012	P22	$5,000,000 part of $50,000,000
Everest National Insurance Company		FL5EX00719-221		$7,000,000 part of $50,000,000
U.S. Specialty Insurance Company		24-MGU-22-		$8,000,000 part of $50,000,000
XL Specialty Insurance Company		ELU183645-22		$5,000,000 part of $50,000,000
Ironshore Indemnity Inc.		FI4NAB095H003		$5,000,000 part of $50,000,000

4.	Item 5. of the Declarations is deleted and replaced by the following:


Item 5.	Total Quota Share Layer Premium:	$	395,454
	Insurer's Quota-Share Participation Premium:	$	13,503

The Total Quota Share Layer Premium is payable pro rata to each of the insurers subscribing to this Quota Share Layer in accordance with the proportion set forth in its Participation Agreement.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.

EDO.008 (7/08)

Page 2 of 2

IRONSHORE INDEMNITY INC.
(A Stock Company)
175 Berkeley Street
Boston, MA 02116
Toll Free: (877) IRON411


Endorsement # 4

Policy Number: FI4NAB095H003	Effective Date of Endorsement: July 01, 2022
Insured Name: Fidelity Fixed Income and Asset Allocation Funds

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

TIE-IN LIMITS

It is hereby understood and agreed as follows:

Any payment of Loss under this Policy shall serve to reduce the Limit of Liability under Policy Number IA7NAB095J003. Any payment of Loss under Policy Number IA7NAB095J003 shall serve to reduce the Limit of Liability of this Policy. It is understood and agreed that only one Limit of Liability shall apply to any Loss that may be insured by this Policy and Policy Number IA7NAB095J003 and in no event will the Limit of Liability of this Policy and the Limit of Liability of Policy Number IA7NAB095J003 apply in the aggregate to any Loss arising from a Wrongful Act or Related Wrongful Acts.

ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS OF THIS POLICY REMAIN UNCHANGED.

EXC.END.049 (0913)

Page 1 of 1

Liberty Mutual Group California Privacy Notice

Commercial Lines (excluding Workers’ Compensation)
(Effective January 1, 2020)

What Data Does Liberty Mutual Gather?

We may collect the following categories of data:

Identifiers, including a real name, alias, postal address, unique personal identifier, online identifier, Internet Protocol address, email address, account name, Social Security Number, driver’s license number, or other similar identifiers;
Personal information described in California Civil Code § 1798.80(e), such as your name, signature, Social Security Number, physical characteristics or description, address, telephone number, driver’s license or state identification card number, insurance policy number, education, employment, employment history, bank account number, financial information, medical information, or health insurance information;
Protected classification characteristics, including age, race, color, national origin, citizenship, religion or creed, marital status, medical condition, physical or mental disability, sex (including gender, gender identity, gender expression, pregnancy or childbirth and related medical conditions), sexual orientation, or veteran or military status;
Commercial information, including records of personal property, products or services purchased, obtained, or considered, or other purchasing or consuming histories and tendencies;
Internet or other similar network activity, including browsing history, search history, information on a consumer’s interaction with a website, application, or advertisement;
Professional or employment related information, including current or past job history or performance evaluations;
Inferences drawn from other personal information, such as a profile reflecting a person’s preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes;
Risk data, including data about your driving and/or accident history; this may include data from consumer reporting agencies, such as your motor vehicle records and loss history information, health data, or criminal convictions; and
Claims data, including data about your previous and current claims, which may include data regarding your health, criminal convictions, third party reports, or other personal data.

How We Get the Personal Data:

We gather your personal data directly from you.
For example, you provide us with data when you:

§ ask about, buy insurance or file a claim

Version 1.0 (last updated October 13, 2019)

We also gather your personal data from other people. For
example:

§ your insurance agent or broker

1


§ pay your policy	§ your employer, association or business (if you are insured through them)

§ visit our websites, call us, or visit our office	§ our affiliates or other insurance companies about your transactions with them § consumer reporting agencies, Motor Vehicle Departments, and inspection services, to gather your credit history, driving record, claims history, or value and condition of your property § other public directories and sources § third parties, including other insurers, brokers and insurance support organizations who you have communicated with about your policy or claim, anti-fraud databases, sanctions lists, court judgments and other databases, government agencies, open electoral register or in the event of a claim, third parties including other parties to the claim witnesses, experts loss adjustors and claim handlers § other third parties who take out a policy with us and are required to provide your data such as when you are named as a beneficiary or where a family member has taken out a policy which requires your personal data

For information about how we have collected personal data in the past twelve (12) months, please go to libertymutual.com/privacy and click on the link for the California Supplemental Privacy Policy.

How Does Liberty Mutual Use My Data?

Liberty Mutual uses your data to provide you with our products and services, and as otherwise provided in this Privacy Notice. Your data may be used to:


Business Purpose		Data Categories
Market, sell and provide insurance. This includes		·	Identifiers
for example:		·	Personal Information
·	calculating your premium;	·	Protected Classification Characteristics
·	determining your eligibility for a quote;	·	Commercial Information
·	confirming your identity and service your	·	Internet or other similar network activity
	policy;	·	Professional or employment related information
		·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data
Manage your claim. This includes, for example:		·	Identifiers
·	managing your claim, if any;	·	Personal Information
·	conducting claims investigations;	·	Protected Classification Characteristics
·	conducting medical examinations;	·	Commercial Information
·	conducting inspections, appraisals;	·	Internet or other similar network activity
·	providing roadside assistance;	·	Professional or employment related information
·	providing rental car replacement, or repairs;	·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data

Version 1.0 (last updated October 13, 2019)


Day to Day Business and Insurance Operations.		·	Identifiers
This includes, for example:		·	Personal Information
·	creating, maintaining, customizing and securing	·	Protected Classification Characteristics
	accounts;	·	Commercial Information
·	supporting day-to-day business and insurance	·	Internet or other similar network activity
	related functions;	·	Professional or employment related information
·	doing internal research for technology	·	Inferences drawn from other personal information
	development;	·	Risk data
·	marketing and creating products and services;	·	Claims data
·	conducting audits related to a current contact
	with a consumer and other transactions;
·	as described at or before the point of gathering
	personal data or with your authorization;
Security and Fraud Detection. This includes for		·	Identifiers
example:		·	Personal Information
·	detecting security issues;	·	Protected Classification Characteristics
·	protecting against fraud or illegal activity, and	·	Commercial Information
	to comply with regulatory and law enforcement	·	Internet or other similar network activity
	authorities;	·	Professional or employment related information
·	managing risk and securing our systems, assets,	·	Inferences drawn from other personal information
	infrastructure and premises; roadside	·	Risk data
	assistance, rental car replacement, or repairs	·	Claims data
·	help to ensure the safety and security of Liberty
	staff, assets and resources, which may include
	physical and virtual access controls and access
	rights management;
·	supervisory controls and other monitoring and
	reviews, as permitted by law; and emergency
	and business continuity management;
Regulatory and Legal Requirements. This includes		·	Identifiers
for example:		·	Personal Information
·	controls and access rights management;	·	Protected Classification Characteristics
·	to evaluate or conduct a merger, divestiture,	·	Commercial Information
	restructuring, reorganization, dissolution, or	·	Internet or other similar network activity
	other sale or transfer of some or all of Liberty’s	·	Professional or employment related information
	assets, whether as a going concern or as part of	·	Inferences drawn from other personal information
	bankruptcy, liquidation, or similar proceeding,	·	Risk data
	in which personal data held by Liberty is	·	Claims data
	among the assets transferred;
·	exercising and defending our legal rights and
	positions;
·	to meet Liberty contract obligations;
·	to respond to law enforcement requests and as
	required by applicable law, court order, or
	governmental regulations;
·	as otherwise permitted by law.
Improve Your Customer Experience and Our		·	Identifiers
Products. This includes for example:		·	Personal Information
		·	Commercial Information

Version 1.0 (last updated October 13, 2019)


·	improve your customer experience, our	·	Internet or other similar network activity
	products and service;	·	Professional or employment related information
·	to provide, support, personalize and develop	·	Inferences drawn from other personal information
	our website, products and services;	·	Risk data
·	create and offer new products and services;	·	Claims data
Analytics to identify, understand and manage our		·	Identifiers
risks and products. This includes for example:		·	Personal Information
·	conducting analytics to better identify,	·	Protected Classification Characteristics
	understand and manage risk and our products;	·	Commercial Information
		·	Internet or other similar network activity
		·	Professional or employment related information
		·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data
Customer service and technical support. This		·	Identifiers
includes for example:		·	Personal Information
·	answer questions and provide notifications;	·	Commercial Information
·	provide customer and technical support;	·	Internet or other similar network activity
		·	Professional or employment related information
		·	Inferences drawn from other personal information
		·	Risk data
		·	Claims data
How Does Liberty Mutual Share My Data?

Liberty Mutual does not sell your personal data as defined by the California Consumer Privacy Act.

Liberty Mutual shares personal data of California consumers with the following categories of third parties:

Liberty Mutual affiliates;
Service Providers;
Public entities and institutions (e.g. regulatory, quasi-regulatory, tax or other authorities, law enforcement agencies, courts, arbitrational bodies, and fraud prevention agencies);
Professional advisors including law firms, accountants, auditors, and tax advisors;
Insurers, re-insurers, policy holders, and claimants; and
As permitted by law.

Liberty Mutual shares the following categories of personal data regarding California consumers to service providers for business purposes:


Identifiers	Personal Data;
Protected Classification Characteristics;	Commercial Information;
Internet or other similar network activity;	Claims Data;
Inferences drawn from other personal information;	Risk Data;
Professional, employment, and education information;
For information about how we have shared personal information in the past twelve (12)		months,	please	go	to
libertymutual.com/privacy and click on the link for the California Supplemental Privacy Policy.

What Privacy Rights Do I Have?

The California Consumer Privacy Act provides California residents with specific rights regarding personal information.

These rights are subject to certain exceptions. Our response may be limited as permitted under law.

Version 1.0 (last updated October 13, 2019)

Access or Deletion

Specifically, you have the right to request that we disclose the following to you, in each case for the twelve (12) month period preceding your request:

the categories of personal data we have collected about you;
the categories of sources from which the personal data was/is collected;
our business or commercial purpose for collecting personal data;
the categories of third parties with whom we share personal data;
the specific pieces of data we have collected about you;
the categories of personal data about you, if any, that we have disclosed for monetary or other valuable consideration, including the categories of third parties to which we have disclosed the data, by category or categories of personal data for each third party to which we disclosed the personal data; and
the categories of personal data about you that we disclosed for a business purpose.

You can make a request by either:

Calling: 800-344-0197


Online: Mail:	libertymutualgroup.com/privacy-policy/data-request Liberty Mutual Insurance Company 175 Berkeley St., 6^thFloor Boston, MA 02116 Attn: Privacy Office

You may also make a verifiable consumer request on behalf of your minor child.

Response Timing

Rights to opt in and out of data selling

Version 1.0 (last updated October 13, 2019)

No account needed

You do not need to create an account with Liberty Mutual to exercise your rights. Liberty Mutual will only use personal data provided in a request to review and comply with the request.

No discrimination

You have the right not to be discriminated against for exercising any of your CCPA rights. Unless permitted by the CCPA, exercising your rights will not cause Liberty Mutual to:

Deny you goods or services;
Charge you different prices or rates for goods or services, including through granting discounts or other benefits, or imposing penalties;
Provide you a different level or quality of goods or services; or
Suggest that you may receive a different price or rate for goods or services, or a different level or quality of goods or services.

Will Liberty Mutual Update This Privacy Notice?

Who Do I Contact Regarding Privacy?

Phone: Email:

Postal Address:

800-344-0197 privacy@libertymutual.com

Liberty Mutual Insurance Company 175 Berkeley St., 6^thFloor Boston, MA 02116 Attn: Privacy Office

Version 1.0 (last updated October 13, 2019)

Willis Limited

51 Lime Street London EC3M 7DQ United Kingdom

Telephone: +44 (0)2031246000 Fax: +44 (0)2031248223 Website: www.willis.com

B080113012P22 B080113012P22

CONTRACT

OF

INSURANCE


Unique Market Reference (UMR):	B080113012P22


Insured:	Fidelity Fixed Income and Asset Allocation Funds
	and as or more fully defined in the Contract Wording


Principal Address:	c/o FMR LLC
	88 Black Falcon,
	First Floor, East Side, Suite 167,
	Mailzone V7E,
	Boston, MA 02210
	United States of America


Type:	Insurance of:
	Excess Financial Institutions Bond Insurance as
	further defined in the underlying primary
	contract issued by Berkshire Hathaway Specialty
	Insurance Company and as more fully defined in
	the Contract Wording


Period of Insurance:	From 01 July 2022
	To	01 July 2023
	Both days at 00:01am local standard time at the
	principal address of the Insured

Willis Limited, Lloyd's brokers. A Willis Towers Watson Company. Willis Limited is authorised and regulated by the Financial Conduct Authority. Registered office 51 Lime Street, London EC3M 7DQ. Registered number 181116 England and Wales. Registered VAT number GB 334 1289 70

1. RISK DETAILS

Willis Limited 51 Lime Street London EC3M 7DQ United Kingdom Telephone: +44 (0)2031246000 Fax: +44 (0)2031248223 Website: www.willis.com


UNIQUE MARKET
REFERENCE:	B080113012P22


TYPE:	Insurance of:
	Excess Financial Institutions Bond Insurance as further defined in
	the underlying primary contract issued by Berkshire Hathaway
	Specialty Insurance Company and as more fully defined in the
	Contract Wording.


INSURED:	Fidelity Fixed Income and Asset Allocation Funds and as or more
fully defined in the Contract Wording


PRINCIPAL ADDRESS:	c/o FMR LL
	88 Black Falcon,
	First Floor, East Side, Suite 167,
	Mailzone V7E,
	Boston, MA 02210
	United States of America


PERIOD:	From:	1 July 2022
	To:	1 July 2023
	Both days at 00:01am local standard time at the above address of the
	Insure


INTEREST:	Excess Financial Institutions Bond Insurance as further defined in
	the underlying primary contract issued by Berkshire Hathaway
	Specialty Insurance Company and as more fully defined in the
	Contract Wording.


LIMIT OF LIABILITY:	USD 5,000,000 any one loss/claim and in the aggregate for the
	period part of USD 50,000,000 any one loss/claim and in the
	aggregate for the period

	In excess of underlying contracts for USD 100,000,000 any one
	loss/claim and in the aggregate for the period the details of which are
	held on file in the offices of Willis Limited


RETENTION:	Primary Contract Retentions detailed as per Berkshire Hathaway
	Specialty Insurance Company


TERRITORIAL LIMITS:	Worldwide

Page 1

B080113012P22 Willis Limited

1-Fidelity Fixed Income And Asset Allocation Funds - Excess Bond -

13012P22.doc

Saved: 29/06/2022 09:09:00

CONDITIONS:

All terms and conditions as set forth in the Contract Wording (as attached) such wording being:-

Willis Excess Financial Lines Policy Wording, incorporating the following, all as attached:

1.	NMA 2975 (amended) Special Cancellation Clause 30/5/03
2.	LMA 5389 U.S. Terrorism Risk Insurance Act of 2002 As Amended New and Renewal Business Endorsement 12/1/2015 amended
3.	NMA 2918 (amended) War and Terrorism Exclusion Endorsement 8/10/2001
4.	NMA 1256 Nuclear Incident Exclusion Clause - Liability - Direct (Broad) 17/3/60
5.	NMA 1477 Radioactive Contamination Exclusion Clause - Liability - Direct (13/02/64)
6.	This contract contains a Tie-in of limits between this Fidelity Fixed Income and Asset Allocation Funds Bond Policy and Fidelity Fixed Income and Asset Allocation Professional Policy
7.	LMA 3100 Sanctions Clause
8.	NMA 2419 Lines Clause
	Losses to be notified to Insurers via:- Willis Towers Watson Finex - Claims Department 51 Lime Street London EC3M 7DQ
	United Kingdom


	Nothing in this Contract shall be construed as a condition precedent or a warranty unless it is expressly stated as such in the Contract


CHOICE OF LAW AND JURISDICTION:	This contract shall be governed by, and construed in accordance with, the laws of the State of Massachusetts of the United States of America as more fully set out in the contract wording. Any dispute between the parties over the terms of this contract shall be submitted to the exclusive jurisdiction of the Courts of United States of America as more fully set out in the NMA 1998 (24/4/86) Service of Suit Clause (United States of America.) as attached.

The language used for contract interpretation shall be English as set out in the contract wording.

Service of Suit Nominee: Service of Suit Clause (as attached) Lloyd’s America, Inc.

Attention Legal Department

280 Park Avenue, East Tower, 25th Floor New York, NY 10017

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PREMIUM:

USD 15,369 for USD 5,000,000 Order Hereon

Any return premium will be calculated, stated and payable by insurers as net of all Broker Remuneration and Deductions as allowed.


PREMIUM PAYMENT
TERMS:	Premium Payment Condition as follows:

	LSW 3001 (amended) Premium Payment Clause – 60 days, as attached due to Insurers on or before 30 August 2022. Where any date on which the Premium is due to be paid falls on a weekend or Public Holiday, presentation to Insurers or their agents on the next working day will be deemed to comply with the relevant premium payment requirement. For the purposes of this clause, Public Holiday shall mean any public or statutory holiday in any territory through which the Premium must pass between the Insured and Insurers or their agents.


TAXES PAYABLE BY INSURED AND ADMINISTERED BY INSURERS: TAXES PAYABLE BY INSURERS AND ADMINISTERED BY INSURED OR THEIR AGENT:	None None

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RECORDING, TRANSMITTING AND STORING INFORMATION:	Where Willis Limited maintains risk and claims data/information/ documents Willis Limited may hold data/information/documents electronically.


INSURER CONTRACT DOCUMENTATION:	This contract document details the current terms entered into by the insurer(s) and constitutes the contract document. Any further documentation changing this contract agreed in accordance with the contract change provisions set out in this contract, shall form the evidence of such change.


NOTICE OF CANCELLATION PROVISIONS:	Where (re)insurers have the right to give notice of cancellation, in accordance with the provisions of the contract, then: To the extent provided by the contract, the Slip Leader is authorised to issue such notice on behalf of all participating (re)insurers; and (optionally) any (re)insurer may issue such notice in respect of its own participation. The content and format of any such notice should be in accordance with the ‘Notice of Cancellation’ standard, as published by the London Market Group (LMG), or their successor body, on behalf of London Market Associations and participants. However failure to comply with this standard will not affect the validity of the notice given. The notice shall be provided to the broker by the following means: By an email to FINEXNOC@willis.com Failure to comply with this delivery requirement will make the notice null and void. Satisfactory delivery of the notice will cause it to be effective irrespective of whether the broker has acknowledged receipt.

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WILLIS EXCESS FINANCIAL LINES POLICY

Please read this Policy carefully.

SCHEDULE

Policy Number: B080113012P22

Item 1:	*Insured*:	Fidelity Fixed Income and Asset Allocation Funds

	Principal Address:	c/o FMR LLC
		200 Summer Street,
		Mailzone V7E,
		Boston, MA 02210
United States of America


Item 2:	*Insurer(s):*	Lloyd’s Syndicates:
Mosaic Syndicate 1609


Item 3:	*Period of Insurance*: From: 1 July 2022
		To: 1 July 2023
		Both days at 00:01am local standard time at the above address
		of the Insured

Item 4:	*Limit of Liability*:	USD 5,000,000 any one loss/claim and in the aggregate for the
		period part of USD 50,000,000 any one loss/claim and in the
aggregate for the period

Item 5:	*Underlying*
	*Policy(ies)*:	In excess of underlying contracts for USD 100,000,000 any
		one loss/claim and in the aggregate for the period the details
		of which are held on file in the offices of Willis Limited

	Retention:	Primary Contract Retentions detailed as per National Union
		Fire Insurance Company of Pittsburgh, PA. Policy No. 01-565-
		05-84

Item 6:	*Premium*:	USD 15,369 for USD 5,000,000 Order Hereon

	*Taxes*:	None due from London

Item 7:	Notification(s) in accordance with clause 5 required to be
	addressed to:	Willis Towers Watson,
		FINEX - Claims Department,
		51 Lime Street,
		London EC3M 7DQ
		United Kingdom.

Item 8:	Endorsements are as attached at issue of this *Contract*.

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Item 9:	Additional premium required:	Nil
Item 10:	Addresses for complaints:

(a)	For *Insurers* who are Lloyd's underwriters:
	Complaints Fidentia House Walter Burke Way Chatham Maritime Chatham Kent ME4 4RN
	Email: complaints@lloyds.com
	Tel: +44 (0)20 7327 5693
(b)	For all other *Insurers*:
	Willis Limited will provide details on request.

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WILLIS EXCESS FINANCIAL LINES POLICY

In consideration of the Insured having paid or agreed to pay the Premium and subject to all of the definitions, terms, conditions and limitations of this Policy, Insurers and the Insured agree as follows:

1.	Insuring Agreement
1.1	Except insofar as the express terms of this *Policy*:
	(a)	make specific provision in respect of any matter for which specific provision is also made in the *Primary Policy, in which case the express terms of this Policy* shall prevail; or
	(b)	make specific provision in respect of any matter for which no specific provision is made in the *Primary Policy, in which case the express terms of this Policy* shall apply;
	this	*Policy* shall take effect and operate in accordance with the terms of the *Primary Policy*.
1.2	Subject to the *Limit of Liability, the Insurers* shall pay to or on behalf of the *Insured* that
	proportion	of *Loss* which exceeds the *Underlying Limit*.
1.3	Except as provided specifically to the contrary in this *Policy, the Insurers* shall have no
	liability	to make payment for any *Loss* under this *Policy* until the *Underlying Limit* has been
	completely	eroded by amounts which the Insured or insurers of any Side A/Difference in
	Conditions	Policy or insurers of the *Underlying Policy(ies)* shall have paid the *Underlying*
	*Limit.*
2.	Definitions

Wherever the following words and phrases appear in bold and italics in this Policy they shall have the meanings given to them below:

"Claim" or "Circumstance" shall mean “claim”, “circumstance” or any other term by which the Primary Policy identifies matters potentially giving rise to payments thereunder in respect of Loss.

"Insured" shall mean those persons and organisations identified at Item 1 of the Schedule and all other persons and organisations as are insured or otherwise entitled to indemnity under the Primary Policy.

"Insurers" shall mean the insurers of this Policy identified at Item 2 of the Schedule.

"Limit of Liability" shall mean the sum(s) shown at Item 4 of the Schedule being the maximum sum(s) the Insurers are liable to pay under this Policy for all Loss, subject to any reinstatement of limit expressly provided for at Item 4 of the Schedule. For the avoidance of doubt, there shall be no reinstatement of the Limit of Liability unless expressly provided for at Item 4, notwithstanding that the Primary Policy may provide for one or more reinstatements.

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Loss all losses, costs, liabilities or damages and other expenses of the Insured as are covered by the Primary Policy of whatever nature and howsoever described by the Primary Policy. However, and notwithstanding any provision to the contrary in the Primary Policy, the liability of the Insurers of this Policy to the Insured for costs and expenses of any kind whatsoever shall be part of, and not in addition to, the Limit of Liability.

"Period of Insurance" shall mean the period set out at Item 3 of the Schedule.

"Policy" shall mean this insurance contract which includes any endorsements and schedules hereto.

"Premium" shall mean the sum shown at Item 6 of the Schedule.

“Primary Limits” shall mean the limits of liability of the Primary Policy applicable to any loss or liability (as applicable) as set out in Item 5(a) of the Schedule.

"Primary Policy" shall mean the policy identified at Item 5(a) of the Schedule or any policy(ies) issued in substitution thereof.

"Relevant Provision" shall mean any provision of an Underlying Policy which reduces the limit of liability of the Underlying Policy automatically by reference to the amount paid or payable under another policy of insurance, or by reference to the limit of liability under another policy of insurance. For the avoidance of doubt, a provision which provides that an Underlying Policy shall pay only the amount by which any loss or liability (as applicable) exceeds the amount paid or payable under any other policy or policies, or which allows the insurer credit for the value of other insurance or indemnification, or which requires the Insured to pursue such insurance or indemnification prior to claiming under the Underlying Policy (such as an “other insurance” or “non-contribution” or other similar provision), shall not be a Relevant Provision.

"Schedule" shall mean the schedule to this Policy.

"Sublimit(s)" shall mean any limit or limits of insurers' liability in the Primary Policy imposed in respect of a particular category of loss or liability (as applicable) and which specifies that the maximum liability of the insurer shall be less than the otherwise generally applicable limit of liability of the Primary Policy.

"Underlying Limit" shall mean the cumulative total of the limits of liability of the insurer(s) of the Underlying Policy(ies) applicable to any loss or liability (as applicable) as set out in Item 5 of the

Schedule.

"Underlying Policy(ies)" shall mean the policies listed at Item 5 of the Schedule.

3. Maintenance of the Underlying Policy(ies)

The Primary Policy, or any policies issued in substitution thereof, shall be maintained in full force and effect during the Period of Insurance save to the extent that it is eroded. This obligation shall cease to apply in the event that the Primary Policy is completely eroded. Clause 1.3 hereof shall apply for the purposes of determining whether and to what extent erosion has occurred. Where an Underlying Policy other than the Primary Policy does not continue in full force and effect (other than by reason of erosion) such policy shall be deemed for all purposes of this Policy to have been maintained. The Primary Policy shall be deemed maintained if it is replaced by the operation of clause 4 hereof.

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4. Step-Down of Cover

Subject always to the Limit of Liability:

4.1	In the event of the reduction of the amount of indemnity available under any *Underlying Policy* by reason of partial erosion of the *Underlying Limit* (and in determining the existence and extent of such erosion the provisions of clause 1.3 shall apply) this *Policy* shall, subject to the *Limit of Liability* and to the other terms, conditions and limitations of this *Policy, continue to be available to pay that proportion of Loss* which exceeds the amount of indemnity remaining under the *Underlying Policy(ies)*.
4.2	In the event of there being no indemnity available under the *Underlying Policy(ies)* by reason of the complete erosion of the *Underlying Limit* (and in determining the existence and extent of such erosion the provisions of clause 1.3 shall apply), the remaining limits available under this *Policy* shall, subject to the *Limit of Liability* and to the other terms, conditions and limitations of this *Policy, continue for subsequent Loss* as primary insurance and, in that event, any retention, excess or deductible and the remainder of any *Sublimit* specified in the *Primary Policy* shall apply under this *Policy* in respect of *Loss*.
5.	Notification

6.	Claims Participation
6.1	The *Insurers* shall have no liability to pay costs and expenses incurred by or on behalf of the *Insured* unless their consent to the incurring of such costs and expenses has first been obtained, such consent not to be unreasonably delayed or withheld.
6.2	No settlement of a claim brought by a third party shall be effected by or on behalf of the *Insured* for such a sum as will require payment by *Insurers* under this *Policy* unless the consent of the *Insurers* has first been obtained, such consent not to be unreasonably delayed or withheld.
7.	Cancellation and Termination

This Policy may be terminated or cancelled or shall become automatically terminated or cancelled in the same manner and on the same basis or bases as the Primary Policy. However, breach by the Insured of any obligation to pay premium in respect of the Primary Policy or in respect of any other of the Underlying Policy(ies) shall not entitle the Insurers to terminate or cancel this Policy.

8. Recoveries

Where, following payment of Loss by Insurers, recovery is effected, then such recovery, net of the expenses of its being effected, shall be distributed in the following order to the following parties:

(i)	to the *Insured* or, to such extent, if any, as appropriate, to any insurer of a policy applying excess of this *Policy*, but only to the extent (if any) by which such loss or liability (as

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	applicable) exceeded the sum of the excess, deductible or retention of the *Primary Policy, the Underlying Limit* and the amount paid hereunder; and,
(ii)	if any balance remains following the application of (i) above, to the *Insurers* to the extent of the amount(s) paid by them hereunder in respect of *Loss*; and,
(iii)	if any balance remains following the application of (i) and (ii) above, to those, if any, entitled pursuant to the operation of the *Underlying Policies* to such extent, if any, of the entitlements conferred thereunder; and

For the avoidance of doubt, nothing in this Policy shall be construed as limiting or delaying the Insured's right to payment of any Loss hereunder until such time as it has effected any recovery.

9. Alteration

No material amendment to the terms of the Primary Policy shall apply in respect of this Policy unless and until agreed in writing by the Insurers.

10. Reporting Period

Where the terms of the Primary Policy provide:

(i)	the *Insured* with a period of time immediately following the policy period of the *Primary Policy* during which notice may be given to the insurers of the *Primary Policy* of any *Claims* or *Circumstances*; and/or,
(ii)	the right to purchase such a period,

then the Insured shall have the same period and/or right under this Policy in the same manner and on the same terms as those provided for in the Primary Policy except in relation to the premium payable (if any). The premium (if any) payable in respect of any such period available hereunder is set out in Item 9 of the Schedule.

11. Governing Law and Jurisdiction

This insurance shall be governed by and construed in accordance with the laws of the State of Massachusetts and any dispute arising hereunder shall be subject to the exclusive jurisdiction of the courts of United States of America as per NMA 1998 Service of Suit Clause United States of America. as attached.

12. Complaints

The Insurers aim to provide a high standard at all times but if the Insured is not satisfied with the service provided it should contact the following:

In respect of Lloyd's underwriters: the person(s) identified in Item 10(a) of the Schedule.

In respect of Insurers other than Lloyd's underwriters, Willis Limited will provide the relevant details on request.


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SPECIAL CANCELLATION CLAUSE

In the event that an Underwriter:

a)	ceases underwriting; or
b)	is the subject of an order or resolution for winding up or formally proposes a scheme of arrangement; or
c)	has its authority to carry on insurance business withdrawn,
d)	has its financial strength rating reduced by A.M.Best's, Standard & Poor's or equivalent rating agency to less than A-.

the Insured may terminate that Underwriter's participation on this risk forthwith by giving notice and the premium payable to that Underwriter shall be pro rata to the time on risk. In the event there are any notified, reserved or paid losses or circumstances, premium shall be deemed fully earned. Any return of premium shall also be subject to a written full release of liability from the Insured.

NMA2975 (amended)
30/05/03


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U.S. Terrorism Risk Insurance Act of 2002 as amended New & Renewal Business Endorsement

This Endorsement is issued in accordance with the terms and conditions of the "U.S. Terrorism Risk Insurance Act of 2002" as amended, as summarized in the disclosure notice.

In consideration of the premium paid, it is hereby noted and agreed with effect from inception that the Terrorism exclusion to which this Insurance is subject, shall not apply to any “insured loss” directly resulting from any "act of terrorism" as defined in the "U.S. Terrorism Risk Insurance Act of 2002", as amended ("TRIA").

The coverage afforded by this Endorsement is only in respect of any “insured loss” of the type insured by this Insurance directly resulting from an "act of terrorism" as defined in TRIA. The coverage provided by this Endorsement shall expire at 12:00 midnight December 31, 2027, the date on which the TRIA Program is scheduled to terminate, or the expiry date of the policy whichever occurs first, and shall not cover any losses or events which arise after the earlier of these dates. The Terrorism exclusion, to which this Insurance is subject, applies in full force and effect to any other losses and any act or events that are not included in said definition of "act of terrorism".

This Endorsement only affects the Terrorism exclusion to which this Insurance is subject. All other terms, conditions, insured coverage and exclusions of this Insurance including applicable limits and deductibles remain unchanged and apply in full force and effect to the coverage provided by this Insurance.

Furthermore the Underwriter(s) will not be liable for any amounts for which they are not responsible under the terms of TRIA (including subsequent action of Congress pursuant to the Act) due to the application of any clause which results in a cap on the Underwriter’s liability for payment for terrorism losses.

LMA5389

09 January 2020


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WAR AND TERRORISM EXCLUSION ENDORSEMENT

Notwithstanding any provision to the contrary within this insurance or any endorsement thereto it is agreed that this insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any of the following regardless of any other cause or event contributing concurrently or in any other sequence to the loss;

(1)	war, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions of or amounting to an uprising, military or usurped power; or
(2)	any act of terrorism.
	For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.

This endorsement also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to (1) and/or (2) above.

In the event any portion of this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect.

NMA2918 (amended)
08/10/2001


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U.S.A.

NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-DIRECT (BROAD)

For attachment to insurances of the following classifications in the U.S.A., its Territories and Possessions, Puerto Rico and the Canal Zone:-Owners, Landlords and Tenants Liability, Contractual Liability, Elevator Liability, Owners or Contractors (including railroad) Protective Liability, Manufacturers and Contractors Liability, Product Liability, Professional and Malpractice Liability, Storekeepers Liability, Garage Liability, Automobile Liability (including Massachusetts Motor Vehicle or Garage Liability), not being insurances of the classifications to which the Nuclear Incident Exclusion Clause-Liability-Direct (Limited) applies.

This policy* does not apply:-

I.	Under any Liability Coverage, to injury, sickness, disease, death or destruction
	(a)	with respect to which an insured under the policy is also an insured under a nuclear energy liability policy issued by Nuclear Energy Liability Insurance Association, Mutual Atomic Energy Liability Underwriters or Nuclear Insurance Association of Canada, or would be an insured under any such policy but for its termination upon exhaustion of its limit of liability; or
	(b)	resulting from the hazardous properties of nuclear material and with respect to which (1) any person or organization is required to maintain financial protection pursuant to the Atomic Energy Act of 1954, or any law amendatory thereof, or (2) the insured is, or had this policy not been issued would be, entitled to indemnity from the United States of America, or any agency thereof, under any agreement entered into by the United States of America, or any agency thereof, with any person or organization.
II.	Under any Medical Payments Coverage, or under any Supplementary Payments Provision
	relating	to immediate medical or surgical relief, to expenses incurred with respect of bodily
	injury,	sickness, disease or death resulting from the hazardous properties of nuclear material
	and	arising out of the operation of a nuclear facility by any person or organization.
III.	Under any Liability Coverage, to injury, sickness, disease, death or destruction resulting from
	the	hazardous properties of nuclear material, if
	(a)	the nuclear material (1) is at any nuclear facility owned by, or operated by or on behalf of, an insured or (2) has been discharged or dispersed therefrom;
	(b)	the nuclear material is contained in spent fuel or waste at any time possessed, handled, used, processed, stored, transported or disposed of by or on behalf of an insured; or


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	(c)	the injury, sickness, disease, death or destruction arises out of the furnishing by an insured of services, materials, parts or equipment in connection with the planning, construction, maintenance, operation or use of any nuclear facility, but if such facility is located within the United States of America, its territories or possessions or Canada, this exclusion (c) applies only to injury to or destruction of property at such nuclear facility.
IV.	As used in this endorsement:
	“hazardous	properties” include radioactive, toxic or explosive properties; “nuclear
	material”	means source material, special nuclear material or byproduct material; “source
	material”,	“special nuclear material”, and "byproduct material" have the meanings given
	them	in the Atomic Energy Act 1954 or in any law amendatory thereof; “spent fuel” means
	any	fuel element or fuel component, solid or liquid, which has been used or exposed to
	radiation	in a nuclear reactor; “waste” means any waste material (1) containing byproduct
	material	and (2) resulting from the operation by any person or organization of any nuclear
	facility	included within the definition of nuclear facility under paragraph (a) or (b) thereof;
	“nuclear	facility” means
	(a)	any nuclear reactor,
	(b)	any equipment or device designed or used for (1) separating the isotopes of uranium or plutonium, (2) processing or utilizing spent fuel, or (3) handling, processing or packaging waste,
	(c)	any equipment or device used for the processing, fabricating or alloying of special nuclear material if at any time the total amount of such material in the custody of the insured at the premises where such equipment or device is located consists of or contains more than 25 grams of plutonium or uranium 233 or any combination thereof, or more than 250 grams of uranium 235,
	(d)	any structure, basin, excavation, premises or place prepared or used for the storage or disposal of waste, and includes the site on which any of the foregoing is located, all operations conducted on such site and all premises used for such operations; “nuclear reactor” means any apparatus designed or used to sustain nuclear fission in a self- supporting chain reaction or to contain a critical mass of fissionable material. With respect to injury to or destruction of property, the word “injury” or “destruction” includes all forms of radioactive contamination of property.

It is understood and agreed that, except as specifically provided in the foregoing to the contrary, this clause is subject to the terms, exclusions, conditions and limitations of the Policy to which it is attached.

NOTE: - As respects policies which afford liability coverages and other forms of coverage in addition, the words underlined should be amended to designate the liability coverage to which this clause is to apply.

17/3/60
N.M.A. 1256


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U.S.A.

RADIOACTIVE CONTAMINATION EXCLUSION CLAUSE

-LIABILITY-DIRECT

(Approved by Lloyd's Underwriters' Non-Marine Association)

For attachment (in addition to the appropriate Nuclear Incident Exclusion Clause - Liability -Direct) to liability insurances affording worldwide coverage.

In relation to liability arising outside the United States of America., its Territories or Possessions, Puerto Rico or the Canal Zone, this Policy does not cover any liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.

13/2/64
N.M.A. 1477

All other terms, conditions and limitations of this Policy shall remain unchanged.


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SERVICE OF SUIT CLAUSE (U.S.A.)

It is agreed that in the event of the failure of the Underwriters hereon to pay any amount claimed to be due hereunder, the Underwriters hereon, at the request of the Assured (or Reinsured), will submit to the jurisdiction of a Court of competent jurisdiction within the United States. Nothing in this Clause constitutes or should be understood to constitute a waiver of Underwriters’ rights to commence an action in any Court of competent jurisdiction in the United States, to remove an action to a United States District Court, or to seek a transfer of a case to another Court as permitted by the laws of the United States or of any State in the United States. It is further agreed that service of process in such suit may be made upon Lloyd’s America, Inc. Attention Legal Department 280 Park Avenue, East Tower, 25^thFloor New York, NY 10017 and that in any suit instituted against any one of them upon this contract, Underwriters will abide by the final decision of such Court or of any Appellate Court in the event of an appeal.

The above-named are authorized and directed to accept service of process on behalf of Underwriters in any such suit and/or upon the request of the Assured (or Reinsured) to give a written undertaking to the Assured (or Reinsured) that they will enter a general appearance upon Underwriters’ behalf in the event such a suit shall be instituted.

Further, pursuant to any statute of any state, territory or district of the United States which makes provision therefor, Underwriters hereon hereby designate the Superintendent, Commissioner or Director of Insurance or other officer specified for that purpose in the statute, or his successor or successors in office, as their true and lawful attorney upon whom may be served any lawful process in any action, suit or proceeding instituted by or on behalf of the Assured (or Reinsured) or any beneficiary hereunder arising out of this contract of insurance (or reinsurance), and hereby designate the above-named as the person to whom the said officer is authorized to mail such process or a true copy thereof.

N.M.A. 1998 (24/4/86)

All other terms, conditions and limitations of this Policy shall remain unchanged.


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TIE-IN OF LIMITS ENDORSEMENT

This policy contains a Tie-in of limits between this Fidelity Fixed Income and Asset Allocation Funds Bond Policy and Fidelity Fixed Income and Asset Allocation Funds Professional Policy.

SANCTION LIMITATION AND EXCLUSION CLAUSE

No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America.

LMA3100
15 September 2010

NMA LINES CLAUSE

This Insurance, being signed for USD 5,000,000 of USD 50,000,000 insures only that proportion of any loss, whether total or partial, including but not limited to that proportion of associated expenses, if any, to the extent and in the manner provided in this Insurance.

The percentages signed in the Table are percentages of 100 % of the amount(s) of Insurance stated herein.

NMA 2419


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PREMIUM PAYMENT CLAUSE

Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply.

The (Re)Insured undertakes that premium will be paid in full to (Re)Insurers by 30 August 2022.

If the premium due under this contract has not been so paid to (Re)Insurers by 30 August 2022 (Re)Insurers shall have the right to cancel this contract by notifying the (Re)Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers on a pro rata basis for the period that (Re)Insurers are on risk but the full contract premium shall be payable to (Re)Insurers in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contract.

It is agreed that (Re)Insurers shall give not less than 15 days prior notice of cancellation to the (Re)Insured via the broker. If premium due is paid in full to (Re)Insurers before the notice period expires, notice of cancellation shall automatically be revoked. If not, the contract shall automatically terminate at the end of the notice period.

If any provision of this clause is found by any court or administrative body of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will not affect the other provisions of this clause which will remain in full force and effect.

30/09/08
LSW3001


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	2. INFORMATION

INFORMATION:	This section details the information that was provided to Insurers to support the assessment of the risk at the time of underwriting. Where it is required to provide exposure information it is recommended that this should follow the ACORD exposure schedule standard which can be found at www.acord.org
Insured: Type of Insurance Policy Period:	Fidelity Fixed Income and Asset Allocation. Excess Financial Institutions Bond 01 July 2022 to 01 July 2023

INFORMATION

(made available to and seen and agreed by Underwriters)

2021 Annual Report
2021 Fidelity Investments Shareholder Update
2020 05_12 ThisIsFidelity
FMR Funds 17g Listing 3.30.21
FMR 2022 Headcount


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3. SECURITY DETAILS


(RE)INSURER’S
LIABILITY:	(RE)INSURERS LIABILITY CLAUSE

	(Re)insurer’s liability several not joint The liability of a (re)insurer under this contract is several and not joint with other (re)insurers party to this contract. A (re)insurer is liable only for the proportion of liability it has underwritten. A (re)insurer is not jointly liable for the proportion of liability underwritten by any other (re)insurer. Nor is a (re)insurer otherwise responsible for any liability of any other (re)insurer that may underwrite this contract. The proportion of liability under this contract underwritten by a (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is shown next to its stamp. This is subject always to the provision concerning “signing” below. In the case of a Lloyd’s syndicate, each member of the syndicate (rather than the syndicate itself) is a (re)insurer. Each member has underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable only for that member’s proportion. A member is not jointly liable for any other member’s proportion. Nor is any member otherwise responsible for any liability of any other (re)insurer that may underwrite this contract. The business address of each member is Lloyd’s, One Lime Street, London EC3M 7HA. The identity of each member of a Lloyd’s syndicate and their respective proportion may be obtained by writing to Market Services, Lloyd’s, at the above address. Proportion of liability Unless there is “signing” (see below), the proportion of liability under this contract underwritten by each (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is shown next to its stamp and is referred to as its “written line”. Where this contract permits, written lines, or certain written lines, may be adjusted (“signed”).

In that case a schedule is to be appended to this contract to show the definitive proportion of liability under this contract underwritten by each (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together). A definitive proportion (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the


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ORDER HEREON:

BASIS OF WRITTEN

LINES:

BASIS OF SIGNED

LINES:

SIGNING

PROVISIONS:

members of a Lloyd’s syndicate taken together) is referred to as a “signed line”. The signed lines shown in the schedule will prevail over the written lines unless a proven error in calculation has occurred.

Although reference is made at various points in this clause to “this contract” in the singular, where the circumstances so require this should be read as a reference to contracts in the plural.

21/6/07
LMA3333

USD 5,000,000 part of USD 50,000,000

Percentage of Order.

In the event that the written lines hereon exceed 100% of the order, any lines written “to stand” will be allocated in full and all other lines will be signed down in equal proportions so that the aggregate signed lines are equal to 100% of the order without further agreement of any of the (re)insurers.

However:

in the event that the placement of the order is not completed by the commencement date of the period of (re)insurance then all lines written by that date will be signed in full;

the signed lines resulting from the application of the above provisions can be varied, before or after the commencement date of the period of (re)insurance, by the documented agreement of the (re)insured and all (re)insurers whose lines are to be varied. The variation to the contracts will take effect only when all such (re)insurers have agreed, with the resulting variation in signed lines commencing from the date set out in that agreement.


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WRITTEN LINES

MODE OF EXECUTION CLAUSE

This contract and any changes to it may be executed by:

(a)	electronic signature technology employing computer software and a digital signature or digitiser pen pad to capture a person’s handwritten signature in such a manner that the signature is unique to the person signing, is under the sole control of the person signing, is capable of verification to authenticate the signature and is linked to the document signed in such a manner that if the data is changed, such signature is invalidated;
(b)	a unique authorisation provided via a secure electronic trading platform
(c)	a timed and dated authorisation provided via an electronic message/system;
(d)	an exchange of facsimile/scanned copies showing the original written ink signature of paper documents;
(e)	an original written ink signature of paper documents (or a true representation of a signature, such as a rubber stamp).;

The use of any one or a combination of these methods of execution shall constitute a legally binding and valid signing of this contract. This contract may be executed in one or more of the above counterparts, each of which, when duly executed, shall be deemed an original.

In a co-insurance placement following (re)insurers may, but are not obliged to, follow the premium charged by the lead (re)insurer.

(Re)insurers may not seek to guarantee for themselves terms as favourable as those which others subsequently achieve during the placement.

It is the responsibility of each (Re)insurer subscribing to this contract to ensure that they are appropriately licenced to underwrite this contract in the territories described herein and can also discharge their relevant Insurance Premium Tax obligations.

UMR: B080113012P22

Insured: Fidelity Fixed Income and Asset Allocation Funds


Written %	Signed and Dated Stamp
	Incorporating Underwriting Reference

Details of variation(s) to the contract applying to the
above Insurer only:


Premium: Brokerage: SMB:	USD 15,369 Nil Nil


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CONTRACT ADMINISTRATION AND ADVISORY SECTIONS

(Applying to the contract but not forming part of the client’s contract documentation)

4. SUBSCRIPTION AGREEMENT


SLIP LEADER:	As stated here (which takes precedence) or in PPL written lines. Mosaic Syndicate 1609


BUREAU LEADER:	If applicable, as stated here (which takes precedence) or in PPL written lines; otherwise as appointed by default to whichever Bureau Leaders has the largest signed line and, in the event of there being more than one of those, whichever Bureau Leader entered the contract on PPL the earliest of them. Not applicable unless completed here. Lloyd's Leader LIRMA Leader ILU Leader

BASIS OF AGREEMENT TO CONTRACT CHANGES:	GUA (Version 2.0 February 2014) with Non-Marine Schedule - October 2001

A.	In respect of each (re)insurer which at any time has the ability
	to	send and receive ACORD messages via the Exchange:
	i.	Any contract change will be submitted by Willis Limited for agreement via an 'ACORD message';
	ii.	any contract change which requires notification will be notified by Willis Limited via an 'ACORD message';
	iii.	It is understood and agreed that whilst any contract change may be negotiated and agreed in any legally effective manner (and will be binding at that stage), such agreement of any contract change will be confirmed by each such (re)insurer via an appropriate 'ACORD message'. For the avoidance of any doubt, no further duty of disclosure arises in relation to any such confirmation.
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B.	In respect of each (re)insurer who does not have the ability to
	send	and receive ACORD messages via the Exchange:
	i.	It is understood and agreed that whilst any contract change may be negotiated and agreed in any legally effective manner (and will be binding at that stage), any such contract change will be submitted/notified by Willis Limited electronically via email or other electronic means;
	ii.	Such binding agreement of any contract change will be confirmed by each such (re)insurer via email or other electronic means. For the avoidance of any doubt, no further duty of disclosure arises in relation to any such confirmation.


	Where there is a requirement for any wording to be agreed this is to be agreed by the Slip Leader only. The Slip Leader is to determine whether amendments to the wording fall into part one, part two or part three of the GUA schedule. The period of this contract may be extended for up to one calendar month at expiry, at terms to be agreed by the Slip Leader only. The following clause is applicable to insurance risks which are eligible for TRIA. TRIA NOTICE CLAUSE Authority is hereby given to the Slip Leader to issue notice to Insured(s) as required by the U.S. Terrorism Risk Insurance Act of 2002 on behalf of all insurers hereon. Where differing premium and/or broker remuneration and deductions terms apply to subscribing (re)insurers to this contract and the contract is subsequently subject to any form of additional/return premium, it is hereby agreed that the original premium and/or broker remuneration and deductions proportions shall be applied to such additional/return premium unless specifically stipulated to be otherwise in the endorsement.

OTHER AGREEMENT PARTIES FOR CONTRACT CHANGES, FOR PART 2 GUA CHANGES ONLY:	Where no other agreement parties for contract changes are stated herein, the agreement party will be the Slip Leader only.

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OTHER AGREEMENT PARTIES FOR CONTRACT CHANGES, FOR THEIR PROPORTION ONLY:	Where no other agreement parties for contract changes are stated herein, the agreement party will be the Slip Leader only.


BASIS OF CLAIMS AGREEMENT:	As specified under the CLAIMS AGREEMENT PARTIES section of this Contract and to be managed in accordance with:

i)	The SINGLE CLAIMS AGREEMENT PARTY ARRANGEMENT – LMA9150 [as below] for claims or circumstances assigned as Single Claims Agreement Party Claims (SCAP Claims) or, where it is not applicable, then the following shall apply as appropriate:-
ii)	The Lloyd’s Claims Scheme (combined) or as amended or any successor thereto.

(N.B. The applicable Lloyd’s Claims Scheme/part will be determined by the rules and scope of the Schemes(s))

iii)	IUA claims agreement practices.
iv)	The practices of any company(ies) electing to agree claims in respect of their own participation.

The applicable arrangements (scheme, agreement or practices) will be determined by the rules and scope of said arrangements and should be referred to as appropriate.

Single Claims Agreement Party Arrangements

1	Single Claims Agreement Party
1.1	Scope

All claims having, or circumstances assessed by the SLIP LEADER as having, a Claim Amount at or below GBP250,000 or currency equivalent (the Threshold Amount) will be designated a Single Claims Agreement Party Claim (SCAP Claim) and will be managed within the terms of these Single Claims Agreement Party Arrangements (these Arrangements). For the purposes of these Arrangements the SLIP LEADER must be: (a) an authorised person (as defined in Section 31 of the Financial Services and Markets Act 2000) with permission to effect and/or carry out contracts of insurance; or (b) a Member of Lloyd’s.

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1.2 Exceptions

Where:

1.2.1	the Claim Amount is more than, or, in the assessment of the SLIP LEADER, is likely to be more than, the Threshold Amount; and/or
1.2.2	after making further enquiries, there remains insufficient information to form a view on the likely quantum of any circumstance or claim and in the SLIP LEADER’S assessment, there is a material risk that the quantum will ultimately exceed the
	Threshold Amount; and/or
1.2.3	issues arise of fraud or avoidance (either under the Insurance Act 2015 or otherwise) or there are allegations against (re)insurers of regulatory breach which may result in regulatory action being taken against (re)insurers, or actionable allegations of improper claims handling have been made in respect of the claim at issue, or, in the assessment of the SLIP
	LEADER, such issues are likely to arise in connection with a claim; and/or
1.2.4	in the assessment of the SLIP LEADER a claim is, or is likely to become, controversial or complex, or is likely to become subject to Dispute Resolution Proceedings,

such claims or circumstances shall be managed in accordance with the provisions of the applicable BASIS OF CLAIMS AGREEMENT.

2	Slip Leader Responsibilities
2.1	Receipt of a Claim

Upon receiving a notification of a claim or circumstance, the SLIP LEADER shall, as soon as practicable, reasonably assess and decide, based on all the relevant circumstances (including but not limited to the Claims Information), whether such claim or circumstance is a SCAP Claim and notify the Broker accordingly with instructions for it to advise this decision to all claims agreement parties defined in B of the CLAIMS AGREEMENT PARTIES section.

2.2	Role of the Slip Leader
A	SCAP Claim shall be Determined by the SLIP LEADER on behalf

of itself and all (re)insurers which subscribe: (1) to this Contract on the same contractual terms (other than premium and brokerage); and (2) to these Arrangements (Subscribing (Re)Insurers).

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When Determining a SCAP Claim, including where the SLIP LEADER may have delegated the Determination of a SCAP Claim, the SLIP LEADER must always:

2.2.1	act in good faith and exercise the reasonable care of a competent (re)insurer; and
2.2.2	act in the best interest of all Subscribing (Re)Insurers on whose behalf it acts; and
2.2.3	comply with all laws, sanctions regimes, regulations and related guidance (including, but not limited to, those issued by Lloyd’s, the Financial Conduct Authority and/or the Prudential Regulation Authority) as may be applicable to the Determination of a SCAP Claim and to which the SLIP LEADER is subject, including, but not limited to conduct of business rules requiring (re)insurers to treat customers fairly (if applicable in that jurisdiction); and
2.2.4	notify either directly or via the Broker, all
	Subscribing (Re)Insurers of any Dispute Resolution Proceedings commenced against them.

For the avoidance of doubt, the SLIP LEADER shall have no obligations or liability to any (re)insurer, other than a Subscribing (Re)Insurer, arising out of or in any way connected with the

Determination of a SCAP Claim.

2.3 Reassigning Claims

Where during the life of a SCAP Claim any of the provisions of clause 1.2 apply, the SLIP LEADER shall:

2.3.1	reassign the SCAP Claim to the claims agreement parties defined in B of the CLAIMS AGREEMENT
	PARTIES section; and
2.3.2	notify the Broker accordingly with instructions for it to advise all applicable claims agreement parties defined in B of the CLAIMS AGREEMENT
	PARTIES section, following which the provisions of the applicable BASIS OF CLAIMS AGREEMENT shall apply to the claim.

The SLIP LEADER may, at any time, reassign a SCAP Claim outside of these Arrangements if having due regard to the available Claims Information, all relevant circumstances and its ability to act in accordance with clauses 2.2.1 to 2.2.3 inclusive, it considers that this assignment would be appropriate, following which the provisions of the applicable BASIS OF CLAIMS AGREEMENT shall apply to the claim.

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The Broker may also, at any time, reassign a SCAP Claim outside of these Arrangements and to the provisions of the applicable BASIS OF CLAIMS AGREEMENT by advising all claims agreement parties defined in B of the CLAIMS AGREEMENT PARTIES section.

Where a SCAP Claim has been reassigned outside of these Arrangements, it may not, without the consent of all claims agreement parties defined in B of the CLAIMS AGREEMENT PARTIES section, be reassigned as a SCAP Claim.

Notwithstanding clauses 1.2.1 and 1.2.2 but without prejudice to any other right or requirement to (re)assign a SCAP Claim outside of these Arrangements, where the exchange rate between Sterling and the currency in which the SCAP Claim has been made fluctuates after the conversion date stated in A of the CLAIMS AGREEMENT PARTIES section such that the Sterling value of the claim exceeds the Threshold Amount, the claim shall not cease to be a SCAP Claim by reason of the currency fluctuation alone.

2.4 Delegation of Determination

The SLIP LEADER may delegate its Determination of a SCAP Claim to another entity.

Despite its right to delegate the Determination of a SCAP Claim pursuant to these Arrangements the SLIP LEADER shall remain responsible for all acts and omissions of the delegate and the acts and omissions of those employed or engaged by the delegate as if they were its own.

2.5 Processing Claims

The SLIP LEADER shall ensure that all supporting information has been properly documented prior to payment of the claim and that such records are kept for a period of no less than seven years after closure, subject always to the requirements of applicable laws (including but not limited to those applicable to the processing of personal data and privacy).

3 Broker Responsibilities

Notwithstanding the application of these Arrangements, the Broker shall advise all claims agreement parties defined in B of the CLAIMS AGREEMENT PARTIES section of any or all of the following matters or events, where known, as soon as practicable:

3.1	any new claim or circumstance assigned as a SCAP Claim;
3.2	any recommended reserve or reserves for a SCAP Claim;
3.3	any revision to the recommended reserve or reserves for a
	SCAP Claim;
3.4	any change in the assignment of a SCAP Claim;

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3.5	the receipt of notice of the commencement of any Dispute Resolution Proceedings relating to a SCAP Claim;
3.6	the final Determination of a SCAP Claim, including where a SCAP Claim is denied;
3.7	any receipt of a complaint against (re)insurers;
3.8	any termination of the SLIP LEADER’s authority to Determine claims under clauses 4.1 to 4.3 inclusive; and/or
3.9	where so requested by the SLIP LEADER, the identity and participation of all Subscribing (Re)Insurers.
A	Subscribing (Re)Insurer may request the SLIP LEADER and/or

Broker to provide such further information as it may reasonably require and the SLIP LEADER and Broker shall co-operate fully with any such request.

4 Termination of the SLIP LEADER’s Authority

In the event that the SLIP LEADER:

4.1	becomes the subject of voluntary or involuntary rehabilitation or liquidation, action in bankruptcy or similar or in any way otherwise acknowledges its insolvency or is unable to pay its debts or losses; or
4.2	has its right to transact the main class of business covered by the slip withdrawn, suspended, removed or made conditional or impaired in any way by any regulatory authority; or
4.3	ceases to be either: (a) an authorised person (as defined in Section 31 of the Financial Services and Markets Act 2000) with permission to effect and/or carry out contracts of insurance; or (b) a member of Lloyd’s,

the authority of that SLIP LEADER to Determine all SCAP Claims shall automatically terminate from the date of that event, following which the provisions of the applicable BASIS OF CLAIMS AGREEMENT shall apply to the claim.

5	Professional Advisers
5.1	The SLIP LEADER has the sole authority to appoint and instruct an independent, external, professional adviser (which may include, but is not limited to, a lawyer, loss adjuster, surveyor, actuary or accountant) on behalf of Subscribing (Re)Insurers where, in its sole discretion, it considers the professional adviser necessary for the Determination of a claim. The SLIP LEADER shall supervise the professional adviser throughout the period of their appointment.
5.2	A professional adviser appointed in connection with a SCAP Claim pursuant to clause 5.1 above may, at the SLIP

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LEADER’s discretion, be instructed to send all reports and correspondence directly to the SLIP LEADER. The professional adviser’s fees shall be agreed by the SLIP LEADER. The fees of the professional adviser shall be shared between the Subscribing (Re)Insurers in accordance with their respective shares of the SCAP Claim.

6 Claims Concerns

If a Subscribing (Re)Insurer has a concern regarding the handling of a SCAP Claim by the SLIP LEADER it shall notify the SLIP LEADER of its concern. The SLIP LEADER and the Subscribing (Re)Insurer which has raised the concern shall promptly confer and use their best endeavours to resolve the concern. If any disagreement remains after a period of 28 days from the date on which the concern was notified to the SLIP LEADER, the authority of the SLIP

LEADER to Determine the SCAP Claim to which the concern relates shall terminate, following which the provisions of the applicable BASIS OF CLAIMS AGREEMENT shall apply to the claim.

7 Intra-(Re)Insurer Dispute Resolution Protocols

Before a Subscribing (Re)Insurer (Claimant) can bring a legal claim against the SLIP LEADER in relation to the Determination of a SCAP Claim or for an alleged breach of its obligations under these Arrangements, it must first attempt to resolve the dispute (Dispute) as follows:

7.1	The Claimant shall notify the SLIP LEADER that it is commencing the Dispute Resolution Protocols prescribed in this clause 7.
7.2	The Dispute shall first be referred to representatives of the SLIP LEADER and of the Claimant who shall meet in a good faith effort to resolve the Dispute. If a resolution is not achieved within 21 days from the date the Dispute was referred to these individuals, the matter shall be escalated to a member of senior management responsible for claims, for each of the Claimant and SLIP LEADER, who shall attempt to resolve the Dispute.
7.3	If the Dispute has not been resolved within 28 days from the date upon which it is referred to senior management, then the Claimant and SLIP LEADER shall enter into a mediation agreement in the form prescribed by the LMA and IUA. If the resulting mediation fails to resolve the Dispute, then the Dispute shall be settled by arbitration in accordance with clause 7.4, provided always that the decision to commence an arbitration must be taken by the senior management of the Claimant in question.

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7.4	All arbitrations arising out of or in connection with a Dispute shall be referred to arbitration under ARIAS Fast Track Arbitration Rules. The seat of arbitration shall be London.
8	Limitation of Liability
8.1	The total liability, whether in contract, in tort (including but not limited to negligence), breach of fiduciary duty, breach of statutory duty or otherwise, of a SLIP LEADER to all Subscribing (Re)Insurers on whose behalf it has acted, or is acting, under these Arrangements shall not exceed GBP
	500,000 in respect of any one SCAP Claim (Liability Cap).
8.2	If the aggregate liability of a SLIP LEADER in respect of any one SCAP Claim would exceed the Liability Cap, the
	Subscribing (Re)Insurers shall each be entitled to be paid only a share of the Liability Cap calculated in proportion to the share of the (re)insurance underwritten by each Subscribing (Re)Insurer (excluding for the purposes of this clause any share underwritten by the SLIP LEADER).
8.3	A SLIP LEADER shall not be liable for loss of profits, loss of business, loss of use (in each case whether direct or indirect) or any other indirect, special, or consequential damages alleged to have been suffered by a Subscribing (Re)Insurer arising out of its breach of the terms of these Arrangements.
8.4	Notwithstanding clause 8.3 but subject always to clauses 8.1, 8.2 and 8.5, nothing in this clause 8 is intended to exclude the SLIP LEADER’S liability to the Subscribing (Re)Insurers in respect of damages payable by the Subscribing (Re)Insurers to the (re)insured, in addition to the Claim
Amount,	arising from the mishandling of a SCAP Claim by
the	SLIP LEADER, its agents or employees, where such
mishandling	gives rise to an actionable claim for damages
against	Subscribing (Re)Insurers.
8.5	Nothing in these Arrangements shall exclude, restrict or
limit	with respect to the handling of a SCAP Claim a SLIP
LEADER’s	liability for: (1) fraud or fraudulent
misrepresentation;	(2) death or personal injury caused by its
negligence	or the negligence of its employees or agents; or
(3)	any matter in respect of which it would be unlawful to
exclude	or restrict liability.
9	Choice of Law and Jurisdiction

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and Wales and the Subscribing (Re)Insurers submit to the exclusive jurisdiction of the Courts of England and Wales.

10	Exclusions
10.1	The following types of business (and applicable risk codes for
	Lloyd’s)	are excluded from these Arrangements:
	10.1.1	Binding Authorities;
	10.1.2	Proportional & Quota Share Treaties.
10.2	The following forms of settlement are excluded from these
	Arrangements:
	10.2.1	ex gratia payments of any kind;
	10.2.2	commutation agreements.

Definitions

In these Arrangements, unless the context otherwise requires, the following words shall have the following meanings:

Claim Amount means:

in relation to each SCAP Claim, the total amount claimed (after the application of any applicable deductible(s));or
in relation to a circumstance, the total amount which, in the judgement of the SLIP LEADER, may be claimed (after the application of any applicable deductible(s)),
by the (re)insured from all (re)insurers under the Contract including, but not limited to, any of their expenses or other sums that are recoverable from the (re)insurers under the Contract pursuant to the terms of the (re)insurance. The Claim Amount shall exclude any costs incurred by the (re)insurers arising out of, or in connection with the handling of a SCAP Claim.

Claims Information means the information contained within a notification or provided by the (re)insured or its agent in relation to a SCAP Claim. It also includes all information obtained by the SLIP LEADER or provided by any Professional Adviser employed by (re)insurers.

Contract means, for the purposes of these Arrangements, (re)insurance evidenced by (re)insurers subscribing to a single Market Reform Contract and where all (re)insurers participate on the same contractual terms and conditions (other than premium and brokerage).

Determination/Determine means all claims handling activities necessary (including the appointment and instruction of any

Professional Advisers) in order to: (i) accept or deny a SCAP Claim,

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in whole or in part; (ii) agree any amount payable and (iii) resolve finally any open matter in respect of the SCAP Claim by agreement or, negotiation.

Dispute Resolution Proceedings means any litigation, arbitration, mediation, regulatory hearing (other than before an ombudsman) or other contested proceeding commenced by or against Subscribing (Re)Insurers in any jurisdiction.


	LMA9150
	01 February 2018


CLAIMS AGREEMENT
PARTIES:	A.	Claims falling within the scope of the (LMA9150) to be
		agreed by Slip Leader only on behalf of all (re)insurers
		subscribing (1) to this Contract on the same contractual terms
		(other than premium and brokerage) and (2) to these
		Arrangements.

		For the purposes of calculating the Threshold Amount, the
		sterling rate on the date that a financial value of the claim is
		first established by the Slip Leader shall be used and the rate
		of exchange shall be the Bank of England spot rate for the
		purchase of sterling at the time of the deemed conversion.

	B.	For all other claims:

	i)	For Lloyd's syndicates:

		The leading Lloyd's syndicate and, where required by the
		applicable Lloyd's Claims Scheme, the second Lloyd's
		syndicate.

		The second Lloyd’s Syndicate, unless designated here or
		elsewhere in the contract otherwise as appointed by default to
		whichever Lloyd’s syndicate has the largest signed line and,
		in the event of there being more than one of those, whichever
		Lloyd’s syndicate entered the contract on PPL the earliest of
		them.



	ii)	Those companies acting in accordance with the IUA claims
		agreement practices, excepting those that may have opted out
		via iv) below.

	iii)	Those companies that have specifically elected to agree
		claims in respect of their own participation.

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CLAIMS

ADMINISTRATION:

RULES AND EXTENT OF ANY OTHER DELEGATED CLAIMS AUTHORITY:

iv)	All other subscribing insurers that are not party to the Lloyd’s/IUA claims agreement practices, each in respect of their own participation.
v)	Notwithstanding anything contained in the above to the contrary, any ex gratia payments to be agreed by each (re)insurer for their own participation.

Willis Limited and (re)insurers agree that any claims hereunder (including any claims related costs/fees) will be notified and administered via the Electronic Claims File (ECF) with any payment(s) processed via CLASS, unless both parties agree to do otherwise.

Where claims or circumstances are not administered via ECF, notification, administration and payment(s) will be electronic.

Where a Lloyd’s syndicate or IUA company is not an agreement party to the claim or circumstance (per CLAIMS AGREEMENT PARTIES A. above) they agree to accept correct ECF sequences for administrative purposes to ensure information is circulated to all subscribing parties.

Willis Limited are authorised to obtain translations of claims documents on behalf of insurers, with Insurers’ associated costs being payable by Insurers as provided for under Expert(s) Fees Collection heading.

For Non Bureaux Insurers only

Claims settlement to be remitted to Willis Limited (unless otherwise specified within the contract) within 7 working days after agreement of claim by Slip Leader and submission of collection to market(s).

None


	Where the Claims Agreement Parties hereunder have delegated authority to a third party, then all insurers will follow the settlements of the appointed third party.


EXPERT(S) FEES COLLECTION:	In respect of Expert(s) Fees payable by (re)insurers for services performed on their behalf, an appointed Service Provider to provide all collection and disbursement services on behalf of (re)insurers in conjunction with, whenever appropriate, Xchanging in respect of any bureau markets. In respect of Expert(s) Fees payable by (re)insurers

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	for services performed on behalf of the (re)insured Willis Limited to collect fees.


SETTLEMENT
DUE DATE:	30 August 2022

	In the absence of a Settlement Due Date, a Premium Payment Warranty or a Premium Payment Clause which automatically cancels the contract if premium payment is not paid by a specified date, the Settlement Due Date will be calculated by granting 60 days (or 90 days in respect of reinsurance) from whichever is the later of either:

1)	the inception date of the risk or
2)	the date on which the final Insurer agreement is obtained

In the event the details contained within the contract (MRC) differ from those shown in any electronic trading platform, it is understood and agreed that the contract (MRC) shall take precedence.


INSTALMENT PREMIUM
PERIOD OF CREDIT:	Not applicable unless detailed here.


ADJUSTMENT PREMIUM
PERIOD OF CREDIT:	Not applicable unless detailed here.


BUREAUX
ARRANGEMENTS:	Premium Processing Clause

	Where the premium is to be paid through Xchanging Ins-sure Services (XIS), payment to Insurers will be deemed to occur on the day that a delinked premium is released for settlement by the Appointed Broker or in the case of non-delinked premiums, on the day that the error-free Premium Advice Note (PAN) is submitted to XIS. Where premiums are to be paid by instalments under the Deferred Account Scheme, and the Appointed Broker does not receive the premium in time to comply with the agreed settlement date for the second or subsequent instalment, the Appointed Broker, if electing to suspend the automatic debiting of the relevant deferred instalment, shall advise the Slip Leader in writing and instruct XIS accordingly. XIS shall then notify Insurers. Payment to any entity within the same group of companies as the Appointed Broker will be deemed to be payment to the Appointed Broker.

Nothing in this clause shall be construed to override the terms of any Premium Payment Warranty or Clause or any Termination or Cancellation provision contained in this contract. Furthermore, any amendment to the Settlement Due Date of a premium instalment as a

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result of the operation of this Premium Processing Clause shall not amend the date that such instalment is deemed to be due for the purposes of such Premium Payment Warranty or Clause or Termination or Cancellation provision unless Insurers expressly agree otherwise.

Appointed Broker : Willis Limited

LSW3003
14/12/09

Xchanging Ins-sure Services (XIS) are authorised to sign premium, de-linked or otherwise, from individual insureds, cedants, territories, insurers or class of business sections separately as and when received from Willis Limited.

In the event that any applicable premium payment warranty, clause or condition has a different due date to the settlement due date, XIS are hereby authorised to amend the settlement due date to match the premium payment warranty, clause or condition due date. This agreement shall be binding on all bureau insurers.

Insurers hereby agree that any premium payable in instalments under this contract will be processed as delinked additional premium entries other than when submitted under the Deferred Account Scheme.

Where any Settlement Due Date (SDD), Premium Payment Warranty (PPW) or Premium Payment Condition (PPC) due date falls on a weekend or public holiday, presentation to XIS or insurers hereon or release for settlement of a delinked premium as applicable on the next working day will be deemed to be in compliance with such SDD, PPW or PPC.

Where Premium Transfers have been completed any additional/return premiums due thereafter will be paid/deducted from the last Year of Account unless advised differently by (re)insurers.

Agreed to accept currency rate of exchange adjustments as presented to XIS bearing evidence of Insured payment / settlement.

For signing purposes XIS agree to accept netted down premiums (being both gross and net) as presented by Willis Limited.

All premium related transactions shall be settled in the same currency as indicated in this contract and all claims related transactions, including fees and expenses shall be paid in any appropriate currency as requested by the Insured, expert or adjuster, providing:

Where the currency(ies) is not a currency nominated by Lloyd’s, IUA or XIS as a settlement currency, or where one or more XIS Underwriter does not transact business in a nominated XIS settlement currency or where all or part of the Lloyd's premium is to be settled in US Dollars (USD) for US or Canadian Trust Fund purposes, then all

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transactions will be converted into Pounds Sterling (GBP), US Dollars (USD) or Euro (EUR), as specified by Willis Limited, at the applicable rate of exchange which shall be determined by:

a)	the date of receipt by Willis Limited for premiums
b)	the date of payment to the client for claims and return premiums or as agreed by the Slip Leader.

XIS are authorised to:

issue For Declaration Only (FDO) signings (to allow prompt policy signing and notification of claims via ECF, where necessary).


	Insurers agree to allow delinked signings to be removed on Broker instruction only, subject to evidence that insurers have been advised by the Broker that it has been unable to collect the premium. Tax Schedules and other documentation supporting premium calculation included within submissions to XIS are deemed informational documents only and do not form part of the contract nor require underwriter agreement. For the purpose of policy production only references to “Slip Leader” and “Slip Leader only” herein are deemed to read “Insurers”.


NON-BUREAUX ARRANGEMENTS:	Insurers agree to accept premium from individual insureds, cedants, territories or class of business sections separately as and when received from Willis Limited. In the event that any applicable premium payment warranty, clause or condition has a different due date to the settlement due date, insurers hereby agree the settlement due date is amended to match the premium payment warranty, clause or condition due date. This agreement shall be binding on all non-bureau insurers. Premium included in the next Statement of Account dispatched electronically after SDD shall be deemed to meet Premium Payment Terms. This does not supersede priority payments nor special payment terms nor specifically agreed payment and currency terms stated in this contract. Notwithstanding anything to the contrary contained herein, premium due in respect of this contract that is available for settlement and presented to (re)insurers in a Technical Account (TA) ACORD message on or before the PPW, PPC or SDD date shall be deemed to satisfy said Premium Payment Terms. (Re)insurers are responsible for the Business Acceptance (BA) of each Technical Account (TA) to enable funds to be included within the next e-Accounting Financial Account (FA) ACORD message.

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Agreed to accept currency rate of exchange adjustments as presented to insurers bearing evidence of Insured payment / settlement.

Where the currency(ies) is not a currency nominated by insurers or Willis Limited as a settlement currency, then all transactions will be converted into Pounds Sterling (GBP), US Dollars (USD) or Euro (EUR), as specified by Willis Limited, at the applicable rate of exchange which shall be determined by:

a)	the date of receipt by Willis Limited for premiums
b)	the date of payment to the client for claims and return premiums or as agreed by the Slip Leader.

Settlements in respect of any Canadian interest will be converted, where necessary, into US Dollars (USD) or Canadian Dollars (CAD) for payment to insurers at the applicable rate of exchange determined by the date of premium receipt by Willis Limited.

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TAX PAYABLE BY

INSURER(S):

COUNTRY OF ORIGIN:

REGULATORY RISK

LOCATION:

OVERSEAS BROKER:

SURPLUS LINES

BROKER:

US CLASSIFICATION:

ALLOCATION OF PREMIUM TO CODING:

5. FISCAL AND REGULATORY

None.

United States of America.

Willis Towers Watson Northeast, Inc. 75 Arlington Street, Floor 10, Boston, MA 02199 United States of America

Willis Towers Watson Northeast, Inc. 75 Arlington Street, Floor 10, Boston, MA 02199 United States of America Surplus Lines License Number: 1790222

US Surplus Lines

BB (Crime) - 99%
7T – 1%


	In the event the details contained within the contract (MRC) differ from those shown in any electronic trading platform, it is understood and agreed that the contract (MRC) shall take precedence.

REGULATORY CLIENT
CLASSIFICATION:	Commercial - Large Risk

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6. BROKER REMUNERATION AND DEDUCTIONS


FEE PAYABLE BY
CLIENT?	Yes


TOTAL BROKERAGE:	Nil


OTHER DEDUCTIONS
	None.
FROM PREMIUM:	Nil

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Policy Number: (UMR) B080113012P22

SECURITY DETAILS

REFERENCES

UMR (Unique Market Reference): B080113012P22

Date contract printed to PDF: 19:29 29 June 2022

SIGNED UNDERWRITERS

Mosaic Syndicate Services Limited

CMW N S100%

100.000000% P F I 2 1 7 3 3 2 2 A A Written

19:27 29 June 2022 100.000000%

Mosaic Syndicate Services Limited 115988NMV, MSSUKFI21 2021 Financial Institutions - MOS 1609

Signed

(100%). Premiums settled direct with Mosaic Syndicate Services Limited. Claims notifications to be sent to ClaimsFNOL@mosaicinsurance.com Christopher Webb

Bound as Slip Leader

Subjectivities

Slip leader is Mosaic Syndicate Services Limited 115988NMV, MSSUKFI21 2021 Financial Institutions - MOS 1609

Deadline

N/A

Status

Subjectivity has been satisfied

Line Conditions

Agreement party for claims

Notification of claims to the broker does not constitute notification to insurers Agreement party for contract changes

Willis Limited

51 Lime Street London EC3M 7DQ United Kingdom

Telephone: +44 (0)2031246000 Fax: +44 (0)2031248223 Website: www.willis.com

B080113016P22 B080113016P22

CONTRACT

OF

INSURANCE


Unique Market Reference (UMR): Insured:	B080113016P22 Fidelity Equity and High Income Funds and as more fully defined in the contract wording.


Principal Address:	c/o FMR LLC 88 Black Falcon, First Floor, East Side, Suite 16 Mailzone V7E, Boston, MA 02210 United States of America


Type:	Insurance of : Excess Financial Institutions Bond Insurance as further defined in the underlying primary contract issued by Berkshire Hathaway Specialty Insurance Company as more fully defined in the Contract Wording


Period of Insurance:	From: 1 July 2022 To: 1 July 2023 Both days at 00:01am local standard time at the above address of the Insured.

1. RISK DETAILS

Willis Limited 51 Lime Street London EC3M 7DQ United Kingdom Telephone: +44 (0)2031246000 Fax: +44 (0)2031248223 Website: www.willis.com


UNIQUE MARKET
REFERENCE:	B080113016P22


TYPE:	Insurance of:
	Excess Financial Institutions Bond Insurance as further defined in
	the underlying primary contract issued by Berkshire Hathaway
	Specialty Insurance Company as more fully defined in the Contract
	Wording


INSURED:	Fidelity Equity and High Income Funds and as more fully defined in
	the contract wording


PRINCIPAL ADDRESS:	c/o FMR LLC
	88 Black Falcon,
	First Floor, East Side, Suite 16
	Mailzone V7E,
	Boston, MA 02210
	United States of America


PERIOD OF
INSURANCE:	From:	1 July 2022
	To:	1 July 2023
	Both days at 00:01am local standard time at the above address of the
	Insured.


INTEREST:	Excess Financial Institutions Bond insurance as further defined in the
	underlying primary contract issued by National Union Fire Insurance
	Company of Pittsburgh, PA as more fully defined in the Contract
	Wording


LIMITS OF LIABILITY:	USD 5,000,000 any one loss/claim and in the aggregate for the
	period part of USD 50,000,000 any one loss/claim and in the
	aggregate for the period

	in excess of underlying contracts for USD 100,000,000 any one
	loss/claim and in the aggregate for the period the details of which are
	held on file in the offices of Willis Limited


RETENTION:	Primary contract Retentions detailed as per National Union Fire
Insurance Company of Pittsburgh, PA

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TERRITORIAL LIMITS:

CONDITIONS:

Worldwide

All terms and conditions as set forth in the Contract Wording (as attached), such wording being:-

Willis Excess Financial Lines Policy, incorporating the following, all as attached:

1.	NMA 2975 (amended) Special Cancellation Clause 30/5/03
2.	LMA 5218 U.S. Terrorism Risk Insurance Act of 2002 As Amended New And Renewal Business Endorsement 12/1/2015
3.	NMA 2918 (amended) War and Terrorism Exclusion Endorsement 8/10/2001
4.	NMA 1256 Nuclear Incident Exclusion Clause - Liability - Direct (Broad) 17/3/60
5.	NMA 1477 Radioactive Contamination Exclusion Clause Liability - Direct (13/02/64)
6.	Service of Suit Claus NMA 1998
7.	This contract contains a Tie-in of limits between this Fidelity Fixed Income and Asset Allocation Funds Bond Policy and Fidelity Fixed Income and Asset Allocation Professional Policy
8.	LMA 3100 Sanctions Clause
9.	NMA 2419 Lines Clause


	Losses/Claims to be notified via Willis Towers Watson, FINEX - Claims Department, 51 Lime Street, London EC3M 7DQ, United Kingdom Nothing in this Contract shall be construed as a condition precedent or a warranty unless it is expressly stated as such in the Contract


CHOICE OF LAW AND JURISDICTION:	This contract shall be governed by, and construed in accordance with, the laws of the State of Massachusetts of the United States of America as more fully set out in the contract wording. Any dispute between the parties over the terms of this contract shall be submitted to the exclusive jurisdiction of the Courts of United States of America as more fully set out in the NMA 1998 (24/4/86) Service of Suit Clause (U.S.A.) as attached The language used for contract interpretation shall be English as set out in the contract wording.

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	Service of Suit Nominee: Lloyd’s America, Inc. Attention Legal Department 280 Park Avenue, East Tower, 25^thFloor New York, NY 10017


PREMIUM:	USD 15,369 for USD 5,000,000 Order Heron Any return premium will be calculated, stated and payable by insurers as net of all Broker Remuneration and Deductions as allowed.

PREMIUM PAYMENT
TERMS:	Premium Payment Condition as follows:

	LSW3001 Premium Payment Clause (60 days), as attached. due to Insurers on or before 30 August 2022 Where any date on which the Premium is due to be paid falls on a weekend or Public Holiday, presentation to Insurers or their agents on the next working day will be deemed to comply with the relevant premium payment requirement. For the purposes of this clause, Public Holiday shall mean any public or statutory holiday in any territory through which the Premium must pass between the Insured and Insurers or their agents.

TAXES PAYABLE BY INSURED AND ADMINISTERED BY INSURERS: TAXES PAYABLE BY INSURERS AND ADMINISTERED BY INSURED OR THEIR AGENT: RECORDING, TRANSMITTING AND STORING INFORMATION:	None None Where Willis Limited maintains risk and claims data/information/ documents Willis Limited may hold data/information/documents electronically.

INSURER CONTRACT DOCUMENTATION:	This contract document details the current terms entered into by the insurer(s) and constitutes the contract document.

Any further documentation changing this contract agreed in accordance with the contract change provisions set out in this contract, shall form the evidence of such change.

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NOTICE OF CANCELLATION

PROVISIONS:

Where (re)insurers have the right to give notice of cancellation, in accordance with the provisions of the contract, then:

To the extent provided by the contract, the Slip Leader is authorised to issue such notice on behalf of all participating (re)insurers; and (optionally)

any (re)insurer may issue such notice in respect of its own participation.

The content and format of any such notice should be in accordance with the ‘Notice of Cancellation’ standard, as published by the London Market Group (LMG), or their successor body, on behalf of London Market Associations and participants. However failure to comply with this standard will not affect the validity of the notice given.

The notice shall be provided to the broker by the following means:

By an email to FINEXNOC@willis.com

Failure to comply with this delivery requirement will make the notice null and void. Satisfactory delivery of the notice will cause it to be effective irrespective of whether the broker has acknowledged receipt.

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	WILLIS EXCESS FINANCIAL LINES POLICY

Please read this Policy carefully.

SCHEDULE

Policy Number: B080113016P22

Item 1:	*Insured*:	Fidelity Equity and High Income Funds


	Principal Address:	c/o FMR LLC
88 Black Falcon,
		First Floor, East Side, Suite 16
		Mailzone V7E,
Boston, MA 02210
		United States of America

Item 2:	*Insurer(s):*	Lloyd’s Syndicates:
		Mosaic Syndicate 1609

Item 3:	*Period of Insurance*:	From: 1 July 2022
		To:	1 July 2023
		Both days at 00:01am local standard time at the Principal
		address shown at Item 1 above.

Item 4:	*Limit of Liability*:	USD 5,000,000 any one loss/claim and in the aggregate for
		the period
		part of USD 50,000,000 any one loss/claim and in the
		aggregate for the period

Item 5:	*Underlying*
	*Policy(ies)*:	in excess of underlying contracts for
		USD 100,000,000 any one loss/claim and in the aggregate
		for the period
		the details of which are held on file in the offices of Willis
		Limited

	Retention:	Primary contract Retentions detailed as per Berkshire
		Hathaway Specialty Insurance Company, policy no.47-EPF-
		315882-01


Item 6:	*Premium*:	USD 15,369 for USD 5,000,000 for Order Hereon

	*Taxes*:	None due from London

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Item 7:	Notification(s) in accordance with clause 5 required to be
	addressed to:		Willis Towers Watson,
			FINEX Global - Claims Department,
			51 Lime Street,
			London
			EC3M 7DQ
			United Kingdom.

Item 8:	Endorsements are as attached at issue of this *Contract*.

Item 9:	Additional premium required: Nil

Item 10:	Addresses for complaints:

	(a)	For *Insurers* who are Lloyd's underwriters:

		Complaints
		Fidentia House
Walter Burke Way
Chatham Maritime
		Chatham
		Kent
		ME4 4RN

		Email: complaints@lloyds.com

		Tel: +44 (0)20 7327 5693

	(b)	For all other *Insurers*:

		Willis Limited will provide details on request.

Dated in London on the 27 June 2022

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Willis Excess Financial Lines Policy

1.	Insuring Agreement
1.1	Except insofar as the express terms of this *Policy*:
	(a)	make specific provision in respect of any matter for which specific provision is
		also	made in the *Primary Policy, in which case the express terms of this Policy*
		shall	prevail; or
	(b)	make specific provision in respect of any matter for which no specific provision is
		made	in the *Primary Policy, in which case the express terms of this Policy* shall
		apply;
	this	*Policy* shall take effect and operate in accordance with the terms of the *Primary*
	*Policy*.
1.2	Subject to the *Limit of Liability, the Insurers* shall pay to or on behalf of the *Insured*
	that	proportion of *Loss* which exceeds the *Underlying Limit*.
1.3	Except as provided specifically to the contrary in this *Policy, the Insurers* shall have no
	liability	to make payment for any *Loss* under this *Policy* until the *Underlying Limit* has
	been	completely eroded by amounts which the insurers of the *Underlying Policy(ies)*:
	(i)	shall have paid; or,
	(ii)	shall have agreed to pay; or,
	(iii)	shall have had their liability to pay established by judgment, arbitration award or
		other	final binding adjudication;
		whichever	of (i) to (iii) above as shall occur first. Furthermore, in determining whether
	and	the extent to which erosion has occurred,
	(a)	where, as part of any agreement to pay loss or liability (as applicable) under an
		*Underlying*	*Policy*, an insurer agrees to pay an amount which is less than the
		applicable	limit of liability thereunder on terms that such payment shall be treated
		as	or equivalent to payment in full of such limit of liability, the *Insurers* will pay
		*Loss*	under this *Policy* as if such insurer had paid the applicable limit of liability in
		full.	However, in such circumstances the *Insurers* shall pay *Loss* only to the
		extent	that, in the absence of agreement of the kind referred to in the previous
		sentence,	the *Loss* of the *Insured* would have exceeded the *Underlying Limit*.
	(b)	where any insurer of an *Underlying Policy* is or becomes *Insolvent* with the
		result	that it does not pay, or is unable to agree to pay, or is unable to participate
		in	proceedings by which the liability of other insurers of the *Underlying Policy* is
		established,	then the relevant insurer(s) will be deemed to have paid or to have
		agreed	to pay or to have had their liability established, but only in the event that
		either:
		(i)	any other insurer participating on the relevant *Underlying Policy* pays, agrees to pay or has its liability established by judgment, arbitration award or other final binding adjudication (whichever shall occur first); or

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(ii)	the *Insured* establishes that the *Insurers* would be liable hereunder but for the
	*Insolvency*.
(c)	*Insurers* will recognise the erosion of the *Underlying Limit* by any payment made in respect of loss or liability (as applicable) by reason of cover provided by any *Underlying Policy* whether or not such cover is also provided by this *Policy*.
(d)	where any *Underlying Policy* (other than the *Primary Policy) provides cover which is more restrictive than the cover provided hereunder then, notwithstanding the absence of any liability on the part of the insurers of such Underlying Policy* for some or all of any loss or liability (as applicable), such *Underlying Policy* shall, for the purposes of the operation of this *Policy, be deemed to have been eroded by such loss or liability (as applicable) to the extent that it constitutes Loss*.
(e)	*Insurers* will recognise the erosion of the *Underlying Limit* by the operation of one or more *Relevant Provisions*.
(f)	Where for any reason, other than those under (a) to (e) inclusive, one or more insurers of the *Underlying Policies* do not pay loss forming part of the *Underlying Limit* and such unpaid loss is paid instead by or on behalf of the *Insured, the Insurers* will recognise the erosion of the *Underlying Limit* as a consequence of such payment.

2. Definitions

Wherever the following words and phrases appear in bold and italics in this Policy they shall have the meanings given to them below:

Loss.

"Insolvent” or “Insolvency" shall mean in respect of any insurer that any step, application, order, proceeding or appointment has been taken or made by or in respect of an insurer for a distress, execution, composition or arrangement with creditors, winding-up, dissolution, administration, receivership (administrative or otherwise) or bankruptcy, or that the insurer is unable to pay its debts.

Primary Policy.

"Insurers" shall mean the insurers of this Policy identified at Item 2 of the Schedule.

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"Loss" shall mean all and any amounts for which Insurers are liable to the Insured pursuant to the terms and conditions of this Policy and, for the avoidance of doubt and subject only to the operation of any express terms hereof in accordance with clause 1.1 above, this Policy shall be liable to pay as Loss all losses, costs, liabilities or damages and other expenses of the Insured as are covered by the Primary Policy of whatever nature and howsoever described by the Primary Policy. However, and notwithstanding any provision to the contrary in the Primary Policy, the liability of the Insurers of this Policy to the Insured for costs and expenses of any kind whatsoever shall be part of, and not in addition to, the Limit of Liability.

"Period of Insurance" shall mean the period set out at Item 3 of the Schedule.

"Policy" shall mean this insurance contract which includes any endorsements and schedules hereto.

"Premium" shall mean the sum shown at Item 6 of the Schedule.

“Primary Limits” shall mean the limits of liability of the Primary Policy applicable to any loss or liability (as applicable) as set out in Item 5(a) of the Schedule.

"Primary Policy" shall mean the policy identified at Item 5(a) of the Schedule or any policy(ies) issued in substitution thereof.

"Schedule" shall mean the schedule to this Policy.

Schedule.

"Underlying Policy(ies)" shall mean the policies listed at Item 5 of the Schedule.

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3. Maintenance of the Underlying Policy(ies)

4. Step-Down of Cover

Subject always to the Limit of Liability:

4.1	In the event of the reduction of the amount of indemnity available under any *Underlying Policy* by reason of partial erosion of the *Underlying Limit* (and in determining the existence and extent of such erosion the provisions of clause 1.3 shall apply) this *Policy* shall, subject to the *Limit of Liability* and to the other terms, conditions and limitations of this *Policy, continue to be available to pay that proportion of Loss* which exceeds the amount of indemnity remaining under the *Underlying Policy(ies)*.
4.2	In the event of there being no indemnity available under the *Underlying Policy(ies)* by reason of the complete erosion of the *Underlying Limit* (and in determining the existence and extent of such erosion the provisions of clause 1.3 shall apply), the remaining limits available under this *Policy* shall, subject to the *Limit of Liability* and to the other terms, conditions and limitations of this *Policy, continue for subsequent Loss* as primary insurance and, in that event, any retention, excess or deductible and the remainder of any *Sublimit* specified in the *Primary Policy* shall apply under this *Policy* in respect of *Loss*.
5.	Notification

Any notification to the Primary Policy of a Claim or Circumstance which is required to be given in accordance with the terms and conditions of the Primary Policy shall also be given to the Insurers in writing by way of the party identified at Item 7 of the Schedule. Such notice shall constitute notice to all Insurers.

6.	Claims Participation
6.1	The *Insurers* shall have no liability to pay costs and expenses incurred by or on behalf of the *Insured* unless their consent to the incurring of such costs and expenses has first been obtained, such consent not to be unreasonably delayed or withheld.
6.2	No settlement of a claim brought by a third party shall be effected by or on behalf of the *Insured* for such a sum as will require payment by *Insurers* under this *Policy* unless the consent of the *Insurers* has first been obtained, such consent not to be unreasonably delayed or withheld.

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7. Cancellation and Termination

8. Recoveries

(i)	to the *Insured* or, to such extent, if any, as appropriate, to any insurer of a policy applying excess of this *Policy, but only to the extent (if any) by which such loss or liability (as applicable) exceeded the sum of the excess, deductible or retention of the Primary Policy, the Underlying Limit* and the amount paid hereunder; and,
(ii)	if any balance remains following the application of (i) above, to the *Insurers* to the extent of the amount(s) paid by them hereunder in respect of *Loss*; and,
(iii)	if any balance remains following the application of (i) and (ii) above, to those, if any, entitled pursuant to the operation of the *Underlying Policies* to such extent, if any, of the entitlements conferred thereunder; and

9. Alteration

No material amendment to the terms of the Primary Policy shall apply in respect of this Policy unless and until agreed in writing by the Insurers.

10. Reporting Period

Where the terms of the Primary Policy provide:

(i)	the *Insured* with a period of time immediately following the policy period of the *Primary Policy* during which notice may be given to the insurers of the *Primary Policy* of any
	*Claims* or *Circumstances*; and/or,
(ii)	the right to purchase such a period,

11. Governing Law and Jurisdiction

This insurance shall be governed by and construed in accordance with the laws of England and Wales and any dispute arising hereunder shall be subject to the exclusive jurisdiction of the courts of England and Wales.

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12. Complaints

The Insurers aim to provide a high standard at all times but if the Insured is not satisfied with the service provided it should contact the following:

In respect of Lloyd's underwriters: the person(s) identified in Item 10(a) of the Schedule.

In respect of Insurers other than Lloyd's underwriters, Willis Limited will provide the relevant details on request.

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SPECIAL CANCELLATION CLAUSE

In the event that an Underwriter:

a)	ceases underwriting; or
b)	is the subject of an order or resolution for winding up or formally proposes a scheme of arrangement; or
c)	has its authority to carry on insurance business withdrawn,
d)	has its financial strength rating reduced by A.M.Best's, Standard & Poor's or equivalent rating agency to less than A-.

NMA2975 (amended)
30/05/03

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U.S. TERRORISM RISK INSURANCE ACT OF 2002 AS AMENDED NEW & RENEWAL BUSINESS ENDORSEMENT

This Endorsement is issued in accordance with the terms and conditions of the "U.S. Terrorism Risk Insurance Act of 2002" as amended, as summarized in the disclosure notice.

LMA5389

09 January 2020

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WAR AND TERRORISM EXCLUSION ENDORSEMENT

(1)	war, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions of or amounting to an uprising, military or usurped power; or
(2)	any act of terrorism.
	For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.

In the event any portion of this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect.

NMA2918 (amended)
08/10/2001

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U.S.A.

NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-DIRECT (BROAD)

This policy* does not apply:-

I.	Under any Liability Coverage, to injury, sickness, disease, death or destruction
	(a)	with respect to which an insured under the policy is also an insured under a nuclear energy liability policy issued by Nuclear Energy Liability Insurance Association, Mutual Atomic Energy Liability Underwriters or Nuclear Insurance Association of Canada, or would be an insured under any such policy but for its termination upon exhaustion of its limit of liability; or
	(b)	resulting from the hazardous properties of nuclear material and with respect to which (1) any person or organization is required to maintain financial protection pursuant to

the Atomic Energy Act of 1954, or any law amendatory thereof, or (2) the insured is, or had this policy not been issued would be, entitled to indemnity from the United States of America, or any agency thereof, under any agreement entered into by the United States of America, or any agency thereof, with any person or organization.

II.	Under any Medical Payments Coverage, or under any Supplementary Payments Provision
	relating	to immediate medical or surgical relief, to expenses incurred with respect of bodily
	injury,	sickness, disease or death resulting from the hazardous properties of nuclear material
	and	arising out of the operation of a nuclear facility by any person or organization.
III.	Under any Liability Coverage, to injury, sickness, disease, death or destruction resulting from
	the	hazardous properties of nuclear material, if
	(a)	the nuclear material (1) is at any nuclear facility owned by, or operated by or on behalf of, an insured or (2) has been discharged or dispersed therefrom;
	(b)	the nuclear material is contained in spent fuel or waste at any time possessed, handled, used, processed, stored, transported or disposed of by or on behalf of an insured; or
	(c)	the injury, sickness, disease, death or destruction arises out of the furnishing by an insured of services, materials, parts or equipment in connection with the planning, construction, maintenance, operation or use of any nuclear facility, but if such facility is located within the United States of America, its territories or possessions or Canada, this exclusion (c) applies only to injury to or destruction of property at such nuclear facility.

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IV.	As used in this endorsement:
	“hazardous	properties” include radioactive, toxic or explosive properties; “nuclear
	material”	means source material, special nuclear material or byproduct material; “source
	material”,	“special nuclear material”, and "byproduct material" have the meanings given
	them	in the Atomic Energy Act 1954 or in any law amendatory thereof; “spent fuel” means
	any	fuel element or fuel component, solid or liquid, which has been used or exposed to
	radiation	in a nuclear reactor; “waste” means any waste material (1) containing byproduct
	material	and (2) resulting from the operation by any person or organization of any nuclear
	facility	included within the definition of nuclear facility under paragraph (a) or (b) thereof;
	“nuclear	facility” means
	(a)	any nuclear reactor,
	(b)	any equipment or device designed or used for (1) separating the isotopes of uranium or plutonium, (2) processing or utilizing spent fuel, or (3) handling, processing or packaging waste,
	(c)	any equipment or device used for the processing, fabricating or alloying of special nuclear material if at any time the total amount of such material in the custody of the insured at the premises where such equipment or device is located consists of or contains more than 25 grams of plutonium or uranium 233 or any combination thereof, or more than 250 grams of uranium 235,
	(d)	any structure, basin, excavation, premises or place prepared or used for the storage or disposal of waste, and includes the site on which any of the foregoing is located, all operations conducted on such site and all premises used for such operations; “nuclear reactor” means any apparatus designed or used to sustain nuclear fission in a self-supporting chain reaction or to contain a critical mass of fissionable material. With respect to injury to or destruction of property, the word “injury” or “destruction” includes all forms of radioactive contamination of property.

*NOTE:- As respects policies which afford liability coverages and other forms of coverage in addition, the words underlined should be amended to designate the liability coverage to which this clause is to apply.

17/3/60
N.M.A. 1256

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U.S.A.

RADIOACTIVE CONTAMINATION EXCLUSION CLAUSE

-LIABILITY-DIRECT

(Approved by Lloyd's Underwriters' Non-Marine Association)

For attachment (in addition to the appropriate Nuclear Incident Exclusion Clause - Liability -Direct) to liability insurances affording worldwide coverage.

In relation to liability arising outside the U.S.A., its Territories or Possessions, Puerto Rico or the Canal Zone, this Policy does not cover any liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.

13/2/64
N.M.A. 1477

All other terms, conditions and limitations of this Policy shall remain unchanged.

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SERVICE OF SUIT CLAUSE (U.S.A.)

N.M.A. 1998 (24/4/86)

All other terms, conditions and limitations of this Policy shall remain unchanged.

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TIE-IN OF LIMITS ENDORSEMENT

This policy contains a Tie-in of limits between this Fidelity Fixed Income and Asset Allocation Funds Bond Policy and Fidelity Fixed Income and Asset Allocation Funds Professional Policy.

All other terms, conditions and limitations of this Policy shall remain unchanged

SANCTIONS CLAUSE

No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose the (re)insurer or its' parent, to any sanction, prohibition or restriction implemented pursuant to resolutions of the United Nations or the trade and economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America.

LMA3100
15 September 2010

NMA LINES CLAUSE

The percentages signed in the Table are percentages of 100% of the amount(s) of Insurance stated herein.

NMA 2419

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PREMIUM PAYMENT CLAUSE

Notwithstanding any provision to the contrary within this contract or any endorsement hereto, in respect of non payment of premium only the following clause will apply.

The (Re)Insured undertakes that premium will be paid in full to (Re)Insurers by 30 August 2022.

If the premium due under this contract has not been so paid to (Re)Insurers by 30 August 2022 (Re)Insurers shall have the right to cancel this contract by notifying the (Re)Insured via the broker in writing. In the event of cancellation, premium is due to (Re)Insurers on a pro rata basis for the period that (Re)Insurers are on risk but the full contract premium shall be payable to (Re)Insurers in the event of a loss or occurrence prior to the date of termination which gives rise to a valid claim under this contract.

30/09/08
LSW3001

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2. INFORMATION

INFORMATION:

This section details the information that was provided to Insurers to support the assessment of the risk at the time of underwriting.

Where it is required to provide exposure information it is recommended that this should follow the ACORD exposure schedule standard which can be found at www.acord.org

Insured: Fidelity Equity and High Income Funds

Type of Insurance Excess Professional Liability and Management Liability

Insurance Policy Period: 01 July 20212 to 01 July 2023 INFORMATION

2021 Annual Report
2021 Fidelity Investments Shareholder Update
2020 05_12 ThisIsFidelity
FMR Funds 17g Listing 3.30.21
FMR 2022 Headcount

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3. SECURITY DETAILS


(RE)INSURER’S
LIABILITY:	(RE)INSURERS LIABILITY CLAUSE

	(Re)insurer’s liability several not joint The liability of a (re)insurer under this contract is several and not joint with other (re)insurers party to this contract. A (re)insurer is liable only for the proportion of liability it has underwritten. A (re)insurer is not jointly liable for the proportion of liability underwritten by any other (re)insurer. Nor is a (re)insurer otherwise responsible for any liability of any other (re)insurer that may underwrite this contract. The proportion of liability under this contract underwritten by a (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is shown next to its stamp. This is subject always to the provision concerning “signing” below. In the case of a Lloyd’s syndicate, each member of the syndicate (rather than the syndicate itself) is a (re)insurer. Each member has underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable only for that member’s proportion. A member is not jointly liable for any other member’s proportion. Nor is any member otherwise responsible for any liability of any other (re)insurer that may underwrite this contract. The business address of each member is Lloyd’s, One Lime Street, London EC3M 7HA. The identity of each member of a Lloyd’s syndicate and their respective proportion may be obtained by writing to Market Services, Lloyd’s, at the above address. Proportion of liability Unless there is “signing” (see below), the proportion of liability under this contract underwritten by each (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is shown next to its stamp and is referred to as its “written line”. Where this contract permits, written lines, or certain written lines, may be adjusted (“signed”). In that case a schedule is to be appended to this contract to show the definitive proportion of liability under this contract underwritten by each (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate

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ORDER HEREON:

BASIS OF WRITTEN

LINES:

BASIS OF SIGNED LINES:

SIGNING

PROVISIONS:

taken together). A definitive proportion (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of a Lloyd’s syndicate taken together) is referred to as a “signed line”. The signed lines shown in the schedule will prevail over the written lines unless a proven error in calculation has occurred.

Although reference is made at various points in this clause to “this contract” in the singular, where the circumstances so require this should be read as a reference to contracts in the plural.

21/6/07
LMA3333

USD 5,000,000 part of USD 50,000,000

Percentage of Order.

However:

in the event that the placement of the order is not completed by the commencement date of the period of (re)insurance then all lines written by that date will be signed in full;

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WRITTEN LINES

MODE OF EXECUTION CLAUSE

This contract and any changes to it may be executed by:

(a)	electronic signature technology employing computer software and a digital signature or digitiser pen pad to capture a person’s handwritten signature in such a manner that the signature is unique to the person signing, is under the sole control of the person signing, is capable of verification to authenticate the signature and is linked to the document signed in such a manner that if the data is changed, such signature is invalidated;
(b)	a unique authorisation provided via a secure electronic trading platform
(c)	a timed and dated authorisation provided via an electronic message/system;
(d)	an exchange of facsimile/scanned copies showing the original written ink signature of paper documents;
(e)	an original written ink signature of paper documents (or a true representation of a signature, such as a rubber stamp).;

In a co-insurance placement following (re)insurers may, but are not obliged to, follow the premium charged by the lead (re)insurer.

(Re)insurers may not seek to guarantee for themselves terms as favourable as those which others subsequently achieve during the placement.

UMR: B080113016P22

Insured: Fidelity Equity and High Income Funds


Written %	Signed and Dated Stamp
	Incorporating Underwriting Reference

Details of variation(s) to the contract applying to the
above Insurer only:


Premium: Brokerage: SMB:	USD 15,369 Nil Nil

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CONTRACT ADMINISTRATION AND ADVISORY SECTIONS

(Applying to the contract but not forming part of the client’s contract documentation)

SLIP LEADER:

BUREAU LEADER:

BASIS OF AGREEMENT TO CONTRACT CHANGES:

B080113016P22 Willis Limited

1-Fidelity Equity And High Income Funds -

4. SUBSCRIPTION AGREEMENT

As stated here (which takes precedence) or in PPL written lines.

Mosaic Syndicate 1609

If applicable, as stated here (which takes precedence) or in PPL written lines; otherwise as appointed by default to whichever Bureau Leaders has the largest signed line and, in the event of there being more than one of those, whichever Bureau Leader entered the contract on PPL the earliest of them.

Not applicable unless completed here.

Lloyd's Leader

LIRMA Leader

ILU Leader

GUA (Version 2.0 February 2014) with Non-Marine Schedule -October 2001

A. In respect of each (re)insurer which at any time has the ability to send and receive ACORD messages via the Exchange:

i. Any contract change will be submitted by Willis Limited for agreement via an 'ACORD message';

ii. any contract change which requires notification will be notified by Willis Limited via an 'ACORD message';

iii. It is understood and agreed that whilst any contract change may be negotiated and agreed in any legally effective manner (and will be binding at that stage), such agreement of any contract change will be confirmed by each such (re)insurer via an appropriate 'ACORD message'. For the avoidance of any doubt, no further duty of disclosure arises in relation to any such confirmation.

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B.	In respect of each (re)insurer who does not have the ability to
	send	and receive ACORD messages via the Exchange:
	i.	It is understood and agreed that whilst any contract change may be negotiated and agreed in any legally effective manner (and will be binding at that stage), any such contract change will be submitted/notified by Willis Limited electronically via email or other electronic means;
	ii.	Such binding agreement of any contract change will be confirmed by each such (re)insurer via email or other electronic means. For the avoidance of any doubt, no further duty of disclosure arises in relation to any such confirmation.

Where there is a requirement for any wording to be agreed this is to be agreed by the Slip Leader only.

The Slip Leader is to determine whether amendments to the wording fall into part one, part two or part three of the GUA schedule.

The period of this contract may be extended for up to one calendar month at expiry, at terms to be agreed by the Slip Leader only.

The following clause is applicable to insurance risks which are eligible for TRIA.

TRIA NOTICE CLAUSE

Authority is hereby given to the Slip Leader to issue notice to Insured(s) as required by the U.S. Terrorism Risk Insurance Act of 2002 on behalf of all insurers hereon.

Where differing premium and/or broker remuneration and deductions terms apply to subscribing (re)insurers to this contract and the contract is subsequently subject to any form of additional/return premium, it is hereby agreed that the original premium and/or broker remuneration and deductions proportions shall be applied to such additional/return premium unless specifically stipulated to be otherwise in the endorsement.

OTHER
AGREEMENT
PARTIES FOR
CONTRACT

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CHANGES, FOR PART 2 GUA CHANGES ONLY:	Where no other agreement parties for contract changes are stated herein, the agreement party will be the Slip Leader only.

OTHER AGREEMENT PARTIES FOR CONTRACT CHANGES, FOR THEIR PROPORTION ONLY:	Where no other agreement parties for contract changes are stated herein, the agreement party will be the Slip Leader only.


BASIS OF CLAIMS AGREEMENT:	As specified under the CLAIMS AGREEMENT PARTIES section of this Contract and to be managed in accordance with:

i)	The SINGLE CLAIMS AGREEMENT PARTY ARRANGEMENT – LMA9150 [as below] for claims or circumstances assigned as Single Claims Agreement Party Claims (SCAP Claims) or, where it is not applicable, then the following shall apply as appropriate:-
ii)	The Lloyd’s Claims Scheme (combined) or as amended or any successor thereto.

(N.B. The applicable Lloyd’s Claims Scheme/part will be determined by the rules and scope of the Schemes(s))

iii)	IUA claims agreement practices.
iv)	The practices of any company(ies) electing to agree claims in respect of their own participation.

The applicable arrangements (scheme, agreement or practices) will be determined by the rules and scope of said arrangements and should be referred to as appropriate.

Single Claims Agreement Party Arrangements

1	Single Claims Agreement Party
1.1	Scope

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2000) with permission to effect and/or carry out contracts of insurance; or (b) a Member of Lloyd’s.

1.2 Exceptions

Where:

1.2.1	the Claim Amount is more than, or, in the assessment of the SLIP LEADER, is likely to be more than, the Threshold Amount; and/or
1.2.2	after making further enquiries, there remains insufficient information to form a view on the likely quantum of any circumstance or claim and in the SLIP LEADER’S assessment, there is a material risk that the quantum will ultimately exceed the
	Threshold Amount; and/or
1.2.3	issues arise of fraud or avoidance (either under the Insurance Act 2015 or otherwise) or there are allegations against (re)insurers of regulatory breach which may result in regulatory action being taken against (re)insurers, or actionable allegations of improper claims handling have been made in respect of the claim at issue, or, in the assessment of the SLIP
	LEADER, such issues are likely to arise in connection with a claim; and/or
1.2.4	in the assessment of the SLIP LEADER a claim is, or is likely to become, controversial or complex, or is likely to become subject to Dispute Resolution Proceedings,

such claims or circumstances shall be managed in accordance with the provisions of the applicable BASIS OF CLAIMS AGREEMENT.

2	Slip Leader Responsibilities
2.1	Receipt of a Claim

2.2	Role of the Slip Leader
A	SCAP Claim shall be Determined by the SLIP LEADER on behalf

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the same contractual terms (other than premium and brokerage); and (2) to these Arrangements (Subscribing (Re)Insurers).

When Determining a SCAP Claim, including where the SLIP LEADER may have delegated the Determination of a SCAP Claim, the SLIP LEADER must always:

2.2.1	act in good faith and exercise the reasonable care of a competent (re)insurer; and
2.2.2	act in the best interest of all Subscribing (Re)Insurers on whose behalf it acts; and
2.2.3	comply with all laws, sanctions regimes, regulations and related guidance (including, but not limited to, those issued by Lloyd’s, the Financial Conduct Authority and/or the Prudential Regulation Authority) as may be applicable to the Determination of a SCAP Claim and to which the SLIP LEADER is subject, including, but not limited to conduct of business rules requiring (re)insurers to treat customers fairly (if applicable in that jurisdiction); and
2.2.4	notify either directly or via the Broker, all
	Subscribing (Re)Insurers of any Dispute Resolution Proceedings commenced against them.

For the avoidance of doubt, the SLIP LEADER shall have no obligations or liability to any (re)insurer, other than a Subscribing (Re)Insurer, arising out of or in any way connected with the

Determination of a SCAP Claim.

2.3 Reassigning Claims

Where during the life of a SCAP Claim any of the provisions of clause 1.2 apply, the SLIP LEADER shall:

2.3.1	reassign the SCAP Claim to the claims agreement parties defined in B of the CLAIMS AGREEMENT
	PARTIES section; and
2.3.2	notify the Broker accordingly with instructions for it to advise all applicable claims agreement parties defined in B of the CLAIMS AGREEMENT
	PARTIES section, following which the provisions of the applicable BASIS OF CLAIMS AGREEMENT shall apply to the claim.

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the applicable BASIS OF CLAIMS AGREEMENT shall apply to the claim.

2.4 Delegation of Determination

The SLIP LEADER may delegate its Determination of a SCAP Claim to another entity.

2.5 Processing Claims

3 Broker Responsibilities

3.1	any new claim or circumstance assigned as a SCAP Claim;
3.2	any recommended reserve or reserves for a SCAP Claim;

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3.3	any revision to the recommended reserve or reserves for a
	SCAP Claim;
3.4	any change in the assignment of a SCAP Claim;
3.5	the receipt of notice of the commencement of any Dispute Resolution Proceedings relating to a SCAP Claim;
3.6	the final Determination of a SCAP Claim, including where a SCAP Claim is denied;
3.7	any receipt of a complaint against (re)insurers;
3.8	any termination of the SLIP LEADER’s authority to Determine claims under clauses 4.1 to 4.3 inclusive; and/or
3.9	where so requested by the SLIP LEADER, the identity and participation of all Subscribing (Re)Insurers.
A	Subscribing (Re)Insurer may request the SLIP LEADER and/or

Broker to provide such further information as it may reasonably require and the SLIP LEADER and Broker shall co-operate fully with any such request.

4 Termination of the SLIP LEADER’s Authority

In the event that the SLIP LEADER:

4.1	becomes the subject of voluntary or involuntary rehabilitation or liquidation, action in bankruptcy or similar or in any way otherwise acknowledges its insolvency or is unable to pay its debts or losses; or
4.2	has its right to transact the main class of business covered by the slip withdrawn, suspended, removed or made conditional or impaired in any way by any regulatory authority; or
4.3	ceases to be either: (a) an authorised person (as defined in Section 31 of the Financial Services and Markets Act 2000) with permission to effect and/or carry out contracts of insurance; or (b) a member of Lloyd’s,

Professional Advisers

5.1

The SLIP LEADER has the sole authority to appoint and instruct an independent, external, professional adviser (which may include, but is not limited to, a lawyer, loss adjuster, surveyor, actuary or accountant) on behalf of Subscribing (Re)Insurers where, in its sole discretion, it considers the professional adviser necessary for the Determination of a claim. The SLIP LEADER shall supervise the professional adviser throughout the period of their appointment.

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5.2	A professional adviser appointed in connection with a SCAP Claim pursuant to clause 5.1 above may, at the SLIP
	LEADER’s discretion, be instructed to send all reports and correspondence directly to the SLIP LEADER. The professional adviser’s fees shall be agreed by the SLIP LEADER. The fees of the professional adviser shall be shared between the Subscribing (Re)Insurers in accordance with their respective shares of the SCAP Claim.
6	Claims Concerns

LEADER to Determine the SCAP Claim to which the concern relates shall terminate, following which the provisions of the applicable BASIS OF CLAIMS AGREEMENT shall apply to the claim.

7. Intra-(Re)Insurer Dispute Resolution Protocols

7.1	The Claimant shall notify the SLIP LEADER that it is commencing the Dispute Resolution Protocols prescribed in this clause 7.
7.2	The Dispute shall first be referred to representatives of the SLIP LEADER and of the Claimant who shall meet in a good faith effort to resolve the Dispute. If a resolution is not achieved within 21 days from the date the Dispute was referred to these individuals, the matter shall be escalated to a member of senior management responsible for claims, for each of the Claimant and SLIP LEADER, who shall attempt to resolve the Dispute.
7.3	If the Dispute has not been resolved within 28 days from the date upon which it is referred to senior management, then the Claimant and SLIP LEADER shall enter into a mediation agreement in the form prescribed by the LMA and IUA. If the resulting mediation fails to resolve the Dispute, then the Dispute shall be settled by arbitration in accordance with clause 7.4, provided always that the decision to commence an

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	arbitration must be taken by the senior management of the Claimant in question.
7.4	All arbitrations arising out of or in connection with a Dispute shall be referred to arbitration under ARIAS Fast Track Arbitration Rules. The seat of arbitration shall be London.
8	Limitation of Liability
8.1	The total liability, whether in contract, in tort (including but not limited to negligence), breach of fiduciary duty, breach of statutory duty or otherwise, of a SLIP LEADER to all Subscribing (Re)Insurers on whose behalf it has acted, or is acting, under these Arrangements shall not exceed GBP
	500,000 in respect of any one SCAP Claim (Liability Cap).
8.2	If the aggregate liability of a SLIP LEADER in respect of any one SCAP Claim would exceed the Liability Cap, the
	Subscribing (Re)Insurers shall each be entitled to be paid only a share of the Liability Cap calculated in proportion to the share of the (re)insurance underwritten by each Subscribing (Re)Insurer (excluding for the purposes of this clause any share underwritten by the SLIP LEADER).
8.3	A SLIP LEADER shall not be liable for loss of profits, loss of business, loss of use (in each case whether direct or indirect) or any other indirect, special, or consequential damages alleged to have been suffered by a Subscribing (Re)Insurer arising out of its breach of the terms of these Arrangements.
8.4	Notwithstanding clause 8.3 but subject always to clauses 8.1, 8.2 and 8.5, nothing in this clause 8 is intended to exclude the SLIP LEADER’S liability to the Subscribing (Re)Insurers
in	respect of damages payable by the Subscribing
(Re)Insurers	to the (re)insured, in addition to the Claim
Amount,	arising from the mishandling of a SCAP Claim by
the	SLIP LEADER, its agents or employees, where such
mishandling	gives rise to an actionable claim for damages
against	Subscribing (Re)Insurers.
8.5	Nothing in these Arrangements shall exclude, restrict or
limit	with respect to the handling of a SCAP Claim a SLIP
LEADER’s	liability for: (1) fraud or fraudulent
misrepresentation;	(2) death or personal injury caused by its
negligence	or the negligence of its employees or agents; or
(3)	any matter in respect of which it would be unlawful to
exclude	or restrict liability.

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9 Choice of Law and Jurisdiction

Notwithstanding any other choice of law, express or implied in the contract of (re)insurance, the provisions of these Arrangements shall be construed and governed in accordance with the Laws of England and Wales and the Subscribing (Re)Insurers submit to the exclusive jurisdiction of the Courts of England and Wales.

10	Exclusions
10.1	The following types of business (and applicable risk codes for
	Lloyd’s)	are excluded from these Arrangements:
	10.1.1	Binding Authorities;
	10.1.2	Proportional & Quota Share Treaties.
10.2	The following forms of settlement are excluded from these
	Arrangements:
	10.2.1	ex gratia payments of any kind;
	10.2.2	commutation agreements.
Definitions

In these Arrangements, unless the context otherwise requires, the following words shall have the following meanings:

Claim Amount means:

in relation to each SCAP Claim, the total amount claimed (after the application of any applicable deductible(s));or
in relation to a circumstance, the total amount which, in the judgement of the SLIP LEADER, may be claimed (after the application of any applicable deductible(s)),
by the (re)insured from all (re)insurers under the Contract including, but not limited to, any of their expenses or other sums that are recoverable from the (re)insurers under the Contract pursuant to the terms of the (re)insurance. The Claim Amount shall exclude any costs incurred by the (re)insurers arising out of, or in connection with the handling of a SCAP Claim.

Contract means, for the purposes of these Arrangements, (re)insurance evidenced by (re)insurers subscribing to a single Market

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Reform Contract and where all (re)insurers participate on the same contractual terms and conditions (other than premium and brokerage).

Determination/Determine means all claims handling activities necessary (including the appointment and instruction of any

Professional Advisers) in order to: (i) accept or deny a SCAP Claim, in whole or in part; (ii) agree any amount payable and (iii) resolve finally any open matter in respect of the SCAP Claim by agreement or, negotiation.

LMA9150
01 February 2018


CLAIMS AGREEMENT
PARTIES:	A.	Claims falling within the scope of the (LMA9150) to be
		agreed by Slip Leader only on behalf of all (re)insurers
		subscribing (1) to this Contract on the same contractual terms
		(other than premium and brokerage) and (2) to these
		Arrangements.

		For the purposes of calculating the Threshold Amount, the
		sterling rate on the date that a financial value of the claim is
		first established by the Slip Leader shall be used and the rate
		of exchange shall be the Bank of England spot rate for the
		purchase of sterling at the time of the deemed conversion.

	B.	For all other claims:

	i)	For Lloyd's syndicates:

		The leading Lloyd's syndicate and, where required by the
		applicable Lloyd's Claims Scheme, the second Lloyd's
		syndicate.

		The second Lloyd’s Syndicate, unless designated here or
		elsewhere in the contract otherwise as appointed by default to
		whichever Lloyd’s syndicate has the largest signed line and,
		in the event of there being more than one of those, whichever
		Lloyd’s syndicate entered the contract on PPL the earliest of
		them.



	ii)	Those companies acting in accordance with the IUA claims
		agreement practices, excepting those that may have opted out
		via iv) below.

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CLAIMS

ADMINISTRATION:

RULES AND EXTENT OF ANY OTHER DELEGATED CLAIMS AUTHORITY:

iii)	Those companies that have specifically elected to agree claims in respect of their own participation.
iv)	All other subscribing insurers that are not party to the Lloyd’s/IUA claims agreement practices, each in respect of their own participation.
v)	Notwithstanding anything contained in the above to the contrary, any ex gratia payments to be agreed by each (re)insurer for their own participation.

Where claims or circumstances are not administered via ECF, notification, administration and payment(s) will be electronic.

For Non Bureaux Insurers only

None


	Where the Claims Agreement Parties hereunder have delegated authority to a third party, then all insurers will follow the settlements of the appointed third party.


EXPERT(S) FEES COLLECTION:	In respect of Expert(s) Fees payable by (re)insurers for services performed on their behalf, an appointed Service Provider to provide

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	all collection and disbursement services on behalf of (re)insurers in conjunction with, whenever appropriate, Xchanging in respect of any bureau markets. In respect of Expert(s) Fees payable by (re)insurers for services performed on behalf of the (re)insured Willis Limited to collect fees.


SETTLEMENT
DUE DATE:	30 August 2022

	In the absence of a Settlement Due Date, a Premium Payment Warranty or a Premium Payment Clause which automatically cancels the contract if premium payment is not paid by a specified date, the Settlement Due Date will be calculated by granting 60 days (or 90 days in respect of reinsurance) from whichever is the later of either:

1)	the inception date of the risk or
2)	the date on which the final Insurer agreement is obtained


	In the event the details contained within the contract (MRC) differ from those shown in any electronic trading platform, it is understood and agreed that the contract (MRC) shall take precedence.

INSTALMENT PREMIUM
PERIOD OF CREDIT:	Not applicable unless detailed here.


ADJUSTMENT PREMIUM
PERIOD OF CREDIT:	Not applicable unless detailed here.


BUREAUX
ARRANGEMENTS:	Premium Processing Clause

	Where the premium is to be paid through Xchanging Ins-sure Services (XIS), payment to Insurers will be deemed to occur on the day that a delinked premium is released for settlement by the Appointed Broker or in the case of non-delinked premiums, on the day that the error-free Premium Advice Note (PAN) is submitted to XIS. Where premiums are to be paid by instalments under the Deferred Account Scheme, and the Appointed Broker does not receive the premium in time to comply with the agreed settlement date for the second or subsequent instalment, the Appointed Broker, if electing to suspend the automatic debiting of the relevant deferred instalment, shall advise the Slip Leader in writing and instruct XIS accordingly. XIS shall then notify Insurers. Payment to any entity within the same group of companies as the Appointed Broker will be deemed to be payment to the Appointed Broker.

Nothing in this clause shall be construed to override the terms of any Premium Payment Warranty or Clause or any Termination or

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Cancellation provision contained in this contract. Furthermore, any amendment to the Settlement Due Date of a premium instalment as a result of the operation of this Premium Processing Clause shall not amend the date that such instalment is deemed to be due for the purposes of such Premium Payment Warranty or Clause or Termination or Cancellation provision unless Insurers expressly agree otherwise.

Appointed Broker : Willis Limited

LSW3003
14/12/09

Insurers hereby agree that any premium payable in instalments under this contract will be processed as delinked additional premium entries other than when submitted under the Deferred Account Scheme.

Where Premium Transfers have been completed any additional/return premiums due thereafter will be paid/deducted from the last Year of Account unless advised differently by (re)insurers.

Agreed to accept currency rate of exchange adjustments as presented to XIS bearing evidence of Insured payment / settlement.

For signing purposes XIS agree to accept netted down premiums (being both gross and net) as presented by Willis Limited.

Where the currency(ies) is not a currency nominated by Lloyd’s, IUA or XIS as a settlement currency, or where one or more XIS Underwriter does not transact business in a nominated XIS settlement

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currency or where all or part of the Lloyd's premium is to be settled in US Dollars (USD) for US or Canadian Trust Fund purposes, then all transactions will be converted into Pounds Sterling (GBP), US Dollars (USD) or Euro (EUR), as specified by Willis Limited, at the applicable rate of exchange which shall be determined by:

a)	the date of receipt by Willis Limited for premiums
b)	the date of payment to the client for claims and return premiums or as agreed by the Slip Leader.

XIS are authorised to:

issue For Declaration Only (FDO) signings (to allow prompt policy signing and notification of claims via ECF, where necessary).


	Insurers agree to allow delinked signings to be removed on Broker instruction only, subject to evidence that insurers have been advised by the Broker that it has been unable to collect the premium. Tax Schedules and other documentation supporting premium calculation included within submissions to XIS are deemed informational documents only and do not form part of the contract nor require underwriter agreement. For the purpose of policy production only references to “Slip Leader” and “Slip Leader only” herein are deemed to read “Insurers”.


NON-BUREAUX ARRANGEMENTS:	Insurers agree to accept premium from individual insureds, cedants, territories or class of business sections separately as and when received from Willis Limited. In the event that any applicable premium payment warranty, clause or condition has a different due date to the settlement due date, insurers hereby agree the settlement due date is amended to match the premium payment warranty, clause or condition due date. This agreement shall be binding on all non-bureau insurers. Premium included in the next Statement of Account dispatched electronically after SDD shall be deemed to meet Premium Payment Terms. This does not supersede priority payments nor special payment terms nor specifically agreed payment and currency terms stated in this contract. Notwithstanding anything to the contrary contained herein, premium due in respect of this contract that is available for settlement and presented to (re)insurers in a Technical Account (TA) ACORD message on or before the PPW, PPC or SDD date shall be deemed to satisfy said Premium Payment Terms. (Re)insurers are responsible for the Business Acceptance (BA) of each Technical Account (TA) to

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enable funds to be included within the next e-Accounting Financial Account (FA) ACORD message.

Agreed to accept currency rate of exchange adjustments as presented to insurers bearing evidence of Insured payment / settlement.

a)	the date of receipt by Willis Limited for premiums
b)	the date of payment to the client for claims and return premiums or as agreed by the Slip Leader.

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	5. FISCAL AND REGULATORY


TAX PAYABLE BY
INSURER(S):	None.


COUNTRY OF ORIGIN:	United States of America.


REGULATORY RISK
LOCATION:	United States of America.


OVERSEAS BROKER:	Willis Towers Watson Northeast, Inc. 75 Arlington Street, Floor 10, Boston, MA 02199 United States of America

SURPLUS LINES BROKER:	Willis Towers Watson Northeast, Inc. 75 Arlington Street, Floor 10, Boston, MA 02199 United States of America Surplus Lines License Number: 1790222



US CLASSIFICATION: ALLOCATION OF PREMIUM TO CODING:	US Surplus Lines BB (Crime) - 99% 7T - 1% In the event the details contained within the contract (MRC) differ from those shown in any electronic trading platform, it is understood and agreed that the contract (MRC) shall take precedence.


REGULATORY CLIENT
CLASSIFICATION:	Commercial - Large Risk

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6. BROKER REMUNERATION AND DEDUCTIONS


FEE PAYABLE BY
CLIENT?	Yes


TOTAL BROKERAGE:	Nil


OTHER DEDUCTIONS
	None.
FROM PREMIUM:	Nil

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Policy Number: (UMR) B080113016P22

SECURITY DETAILS

REFERENCES

UMR (Unique Market Reference): B080113016P22

Date contract printed to PDF: 19:55 29 June 2022

SIGNED UNDERWRITERS

Mosaic Syndicate Services Limited

100.000000% P F I 2 1 7 3 5 2 2 A A Written

19:37 29 June 2022 100.000000%

Mosaic Syndicate Services Limited 115988NMV, MSSUKFI21 2021 Financial Institutions - MOS 1609

Signed

(100%). Premiums settled direct with Mosaic Syndicate Services Limited. Claims notifications to be sent to ClaimsFNOL@mosaicinsurance.com Christopher Webb

Bound as Slip Leader

Subjectivities

Slip lead is Mosaic Syndicate Services Limited 115988NMV, MSSUKFI21 2021 Financial Institutions - MOS 1609

Deadline

N/A

Status

Subjectivity has been satisfied

Line Conditions

Agreement party for claims

Notification of claims to the broker does not constitute notification to insurers Agreement party for contract changes

EFI 03 00 06 09

EXCESS FOLLOW-FORM BOND DECLARATIONS

THE POLICY’S LIMIT OF LIABILITY WILL BE REDUCED BY CLAIM EXPENSES.

EVEREST REINSURANCE COMPANY

Warren Corporate Center
100 Everest Way
Warren, NJ 07059


BOND NUMBER: FL5FD00012-221		RENEWAL OF: FL5FD00012-211


PRODUCER NAME:	Willis of MA, Inc.
	Willis Americas Administration, Inc
ADDRESS:	Three Copley Place
	Boston, MA 02116

IN RETURN FOR THE PAYMENT OF THE PREMIUM, AND SUBJECT TO ALL THE TERMS OF THIS

BOND, THE INSURER AGREES TO PROVIDE THIS COVERAGE AS STATED IN THIS BOND.


ITEM 1.	NAMED INSURED: Fidelity Equity and High Income Funds
	ADDRESS:	c/o FMR LLC
		88 Black Falcon, First Floor, East Side, Suite 167
		Boston, MA 02210
ITEM 2:	BOND PERIOD: FROM July 1, 2022 TO July 1, 2023
	12:01 A.M. LOCAL TIME AT THE ADDRESS OF THE NAMED INSURED SHOWN ABOVE.
ITEM 3.	AGGREGATE LIMIT OF LIABILITY:		$	7,000,000
	EXCESS OF:		$	100,000,000
ITEM 4.	SINGLE LOSS LIMIT OF LIABILITY:		$	7,000,000

ITEM 5.	UNDERLYING BOND (Includes all bonds listed under Paragraphs A. and B. below)
	A. PRIMARY BOND
	Bond Issuer	Bond No.		Bond Period		Single Loss Limit		Aggregate Limit
	Berkshire Hathaway Specialty 47-EPF-315882-02			7/01/2022-	$	15,000,000	$	15,000,000
	Insurance Company			7/01/2023

EFI 03 00 06 09

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EFI 03 00 06 09


B. UNDERLYING BOND
Bond Issuer	Bond Period		Single Loss Limit		Aggregate Limit
Federal Insurance Company	7/01/2022-	$	10,000,000	$	10,000,000
	7/01/2023

National Union Fire Insurance	7/01/2022-	$	10,000,000	$	25,000,000
Company of Pittsburgh, Pa.	7/01/2023

ICI Mutual Insurance	7/01/2022-	$	15,000,000	$	35,000,000
Company	7/01/2023

Allied World Assurance	7/01/2022-	$	15,000,000	$	50,000,000
Company, AG	7/01/2023

Travelers Casualty and	7/01/2022-	$	10,000,000	$	65,000,000
Surety Company of America	7/01/2023

Continental Casualty	7/01/2022-	$	10,000,000	$	75,000,000
Company	7/01/2023

AXIS Insurance Company	7/01/2022-	$	5,000,000	$	85,000,000
	7/01/2023

Starr Indemnity & Liability	7/01/2022-	$	10,000,000	$	85,000,000
Company	7/01/2023

C. TOTAL LIMITS OF ALL UNDERLYING BOND(S) (INCLUDING PRIMARY BOND):


	$100,000,000

ITEM 6.	BOND PREMIUM: $23,450

ITEM 7.	RIDERS APPLICABLE TO THIS BOND ON THE ORIGINAL DATE OF ISSUE:


	Rider	Rider Number
	Absolute Tie-In Limit	EFI 03 21 06 09
	Additional Conditions Endorsement	EFI (E) CWM011A-1 0717
	Quota-Share Rider	EFI 03 18 06 09
	Advisory Notice Regarding Trade	EIL CWN010A-1 1020
	Or Economic Sanctions

THESE DECLARATIONS, TOGETHER WITH THE EXCESS FOLLOW-FORM DECLARATIONS PAGE AND ANY

ENDORSEMENT(S) AND THE APPLICATION, CONSTITUTE THE ABOVE NUMBERED BOND.

EFI 03 00 06 09

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EFI 03 00 06 09

EXCESS FOLLOW-FORM BOND

THE POLICY’S LIMIT OF LIABILITY WILL BE REDUCED BY CLAIM EXPENSES.

PLEASE READ THE ENTIRE POLICY CAREFULLY.

Various provisions in this bond restrict coverage. Read the entire bond carefully to determine rights, duties and what is and is not covered.

Throughout this bond the words "you" and "your" refer to the “Insureds”. The words "we", "us" and "our" refer to the Insurer providing this bond.

It is represented by the “Insureds” and it is agreed by and among the “Insureds” and us that the particulars and statements contained in the information furnished to us or to the issuers of any “Underlying Bond” in connection with underwriting this bond or any “Underlying Bond”, including statements made in the application and its attachments submitted herewith, are true and are the basis of this bond and are considered as incorporated into and constituting a part of this bond.

In consideration of the payment of premium and subject to all terms, definitions, conditions, exclusions, and limitations of this bond (including any endorsements hereto), the “Insurer” and the “Insureds” agree as follows:

SECTION I – INSURING AGREEMENT

We will provide the “Insured” with coverage in excess of the “Underlying Bond” for loss covered during the “Bond Period.” It is expressly agreed that liability for any covered loss shall attach to us only after the issuers of the “Underlying Bond” have paid the full amounts of the applicable limits of insurance of the “Underlying Bond”, and any applicable retention under the “Primary Bond” has been satisfied. Except as otherwise provided in this bond, coverage under this bond shall apply in conformity with and subject to the warranties, limitations, conditions, provisions, and other terms of the “Primary Bond”.

SECTION II - LIMIT OF LIABILITY

A.	Aggregate Limit of Liability
	The amount stated in Item 3. of the Declarations is our maximum Aggregate Limit of Liability under this bond for all covered loss, including all covered costs and expenses . The Aggregate Limit of Liability shall be reduced by the amount of any payment made by us under the terms of this bond.
B.	Single Loss Limit of Liability
	Subject to the Aggregate Limit of Liability under Paragraph A. of this Section, our liability under this bond for each single loss shall not exceed the Single Loss Limit of Liability shown under Item 4. of the Declarations.

SECTION III – DEFINITIONS

A.	“Bond Period” means the period of time identified under Item 2. of the Declarations.
B.	“Insured” means the “Named Insured” and other entities and persons insured under the “Primary Bond”.
C.	“Named Insured” means the entity or person designated under Item 1. of the Declarations.
D.	“Primary Bond” means the bond designated under Item 5.A. of the Declarations.
E.	“Underlying Bond” means all those bonds scheduled under Item 5.A. and Item 5.B. of the Declarations.

SECTION IV – CONDITIONS

A.	Maintenance of Limit of Liability of Underlying Bond
	The “Underlying Bond(s)” shall be maintained during the “Bond Period” in full force and effect, except for any reduction of the limits of liability of the “Underlying Bond” due to payment of loss. Failure to comply with this requirement will not invalidate this bond, but we will only be liable to the same extent that we would have been had you fully complied with this requirement.
B.	Exhaustion of Limit of Liability of Underlying Bond
	This bond shall drop down only in the event of reduction or exhaustion of the limit(s) of liability of the “Underlying Bond” by reason of payment of covered loss under the “Underlying Bond”, and shall not drop down for any other reason including, but not limited to, uncollectibility (in whole or in part) of any “Underlying Bond”. The risk of uncollectibility of the “Underlying Bond” (in whole or in part) whether because of financial

EFI 03 00 06 09

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EFI 03 00 06 09

impairment or insolvency of an underlying insurer or for any other reason, is expressly retained by the “Insureds” and is not in any way or under any circumstances insured or assumed by us.

Upon the exhaustion of all the limit(s) of liability of such “Underlying Bond” solely as a result of payment of loss thereunder, the remaining limits available under this bond shall, subject to the other terms, conditions and limitations of this bond, continue for subsequent losses as a primary bond and any single loss deductible amount specified in the Primary Bond shall be imposed under this bond as to each single loss; otherwise no single loss deductible amount shall be imposed under this bond.

C.	Changes to Underlying Bond
	You	must promptly notify us of any changes to the “Underlying Bond” which are made after its inception date.
	Any	changes made to the “Underlying Bond” after its inception shall not affect the terms and conditions of this
	bond,	which shall continue to apply as though no change had been made to the “Underlying Bond”.
D.	Bond Cancellation
	1.	You may cancel this bond. You must mail or deliver advance written notice to us stating when the cancellation is to take effect.
	2.	We may cancel this bond. If we cancel because of non-payment of premium, we must mail or deliver to you not less than ten (10) days advance written notice stating when cancellation is to take effect. If we cancel for any other reason, we must mail or deliver to you not less than ninety (90) days advance written notice, stating when the cancellation is to take effect. Mailing that notice to you at your mailing address shown in the Declarations will be sufficient to prove notice.
	3.	The bond period will end on the day and hour stated in the cancellation notice.
	4.	If we cancel, earned premium will be calculated pro rata based on the time this bond was in force.
	5.	If you cancel, earned premium will be calculated based on short rate tables.
	6.	The first “Named Insured” in Item 1. of the Declarations shall act on behalf of all other “Insureds” with respect to the giving and receiving of notice of cancellation and the receipt of any refund that may become payable under this bond.
	7.	Any of the provisions that conflict with a law that controls the cancellation of this bond is changed by this statement to comply with that law.
E.	Underlying Bond Cancellation
	This	bond is canceled immediately upon the termination of any “Underlying Bond” scheduled in Item 5.A. and
	Item	5.B. of the Declarations, whether by you or the applicable issuers of any “Underlying Bond”. You must
	promptly	notify us of the cancellation of the “Underlying Bond”. Such notice must be made when you send a
	notice	of cancellation of the “Underlying Bond” to, or when you receive such notice from, the issuer of the
	“Underlying	Bond”.
F.	Notice of Loss
	As	a condition precedent to coverage under this bond, you shall provide us with written notice of a loss under
	this	bond or any “Underlying Bond” in the same manner required by the terms and conditions of the “Primary
	Bond”.
	You	shall provide written notice as soon as practicable to the following address:

Everest Reinsurance Company
Warren Corporate Center
100 Everest Way
Warren, NJ 07059

G. Claim Participation

We shall have the right, but not the duty, and shall be given the opportunity to effectively associate with the “Insureds” in the investigation, settlement or defense of any claim or loss, even if the “Underlying Bond” has not been exhausted. The “Insureds” shall fully cooperate with us in connection with the investigation of any covered loss and the assertion of any claim for recovery of such loss, and shall provide to us all information and assistance reasonably requested by us.

We shall maintain full and complete claims control as respects coverage under this bond for any loss, and no action by any other bond issuer shall bind us under this bond.

EFI 03 00 06 09

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This policy is signed by officers of the Company shown on the Declarations page of this policy.

For: Everest Reinsurance Company


EIL 00 522 03 11	Ó Everest Reinsurance Company, 2008

THIS RIDER CHANGES THE BOND. PLEASE READ IT CAREFULLY.

ABSOLUTE TIE-IN LIMIT


Named Insured: Fidelity Equity and High Income Funds	Endorsement No.: 1
Policy No.: FL5FD00012-221	Effective date of Endorsement:	07/01/2022
Issuing Company: Everest Reinsurance Company

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. This rider modifies the following: EXCESS FOLLOW FORM BOND

In consideration of the premium charged, the following is added to SECTION II – LIMIT OF LIABILITY:

The maximum aggregate liability of the issuer of this Bond and any of its affiliates under this Bond and the insurance policy(ies) listed below (“Other Policy”), combined, shall be $10,000,000. This Rider further limits and does not increase our maximum liability under this Bond or the Other Policy.

The respective Limits of Liability in Items 3 and 4 of the Declarations for this Bond shall be reduced by any and all amounts paid under any Other Policy.


		Other Policy

Insurer	Named Insured	Type of Policy	Policy No.	Policy Period
Everest National	Fidelity Equity and	Excess E&O	FL5EX00305-221	7/01/2022-
Insurance Company	High Income Funds			7/01/2023

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

EFI 03 21 06 09

Page 1 of 1o


ADDITIONAL CONDITIONS ENDORSEMENT
Named Insured:	Fidelity Equity and High Income Funds	Endorsement No.:	2
Policy No.:	FL5FD00012-221	Effective date of Endorsement:		07/01/2022
Issuing Company: Everest Reinsurance Company

In consideration of the premium charged, it is hereby understood and agreed that, notwithstanding any other policy term to the contrary, in the event the terms and conditions of the Followed Policy and/or any Underlying Policy are modified during the Policy Period so as to clarify, expand, or broaden coverage, the Insured shall notify the Insurer of such amendment as soon as practicable. This policy shall follow the terms and conditions of such modification subject to the Insurer's written consent (not to be unreasonably withheld), and the payment of any additional premiums which may be required. The failure of the Insureds to notify the Insurer of such modifications shall not invalidate coverage under this policy; provided, however, that the Insurer shall not be liable to a greater extent than it would have been has no such modification been made. In the event the terms and conditions of the Followed Policy and/or any Underlying Policy are modified during the Policy Period so as to limit or restrict coverage, no notification to the Insurer shall be required, and this Policy shall automatically follow such modification.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

EFI (E) CWM011A-1 0717

Page 1 of 1


		QUOTA-SHARE RIDER

Named Insured: Fidelity Equity and High Income Funds					Endorsement No.:	3
Policy No.:	FL5FD00012-221				Effective date of Endorsement: 07/01/2022
Issuing Company: Everest Reinsurance Company

	THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

		SCHEDULE
Quota-Share Bond Issuer		Quota-Share Bond			Quota-share	Bond Period
		Issuer’s			Bond
		Percentage			Issuer’s Limit
		Participation			of Liability
Everest Reinsurance Company		14	%	$	7,000,000	7/01/2022-7/01/2023

U.S. Specialty Insurance		16	%	$	8,000,000	7/01/2022-7/01/2023
Company

Twin City Fire Insurance		20	%	$	10,000,000	7/01/2022-7/01/2023
Company
National Casualty Company		20	%	$	10,000,000	7/01/2022-7/01/2023

Ironhorse Indemnity Inc.		10	%	$	5,000,000	7/01/2022-7/01/2023

XL Specialty Insurance		10	%	$	5,000,000	7/01/2022-7/01/2023
Company
Mosaic Syndicate 1609		10	%	$	5,000,000	7/01/2022-7/01/2023

This Bond is part of a quota share layer of insurance coverage for the “Insureds,” which consists of the participants listed in the Schedule above. The issuer of this Bond shall be liable only for its proportionate percentage share of any covered loss, as listed in the Schedule above. In no event shall the issuer of this Bond be liable for an amount greater than such percentage share of covered loss, whether or not the other bond issuer(s) in the quota share layer pay their respective portion of such loss.

The issuer of this Bond shall separately have all of the rights granted to the issuer under this Bond and/or any “Underlying Bond” with respect to any claim or loss, including without limitation the right to consent to any claim expenses, settlement or other loss and the right to participate in the investigation, settlement or defense of any covered claim or loss. No other bond issuer shall exercise any such rights on behalf of the issuer of this Bond without the express written consent of the issuer of this Bond. In addition, the “Insureds” shall give any notice under this Bond to the issuer of this Bond, and any notice given to any other Bond issuer shall not constitute notice to issuer of this Bond.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.


EFI 03 18 06 09	© Everest Reinsurance Company, 2009	Page 1 of 1


EFI 02 10 08 09	© Everest Reinsurance Company, 2009	Page 2 of 2

ADVISORY NOTICE REGARDING

TRADE OR ECONOMIC SANCTIONS

No coverage is provided by this Notice nor can it be construed to replace any provisions of the policy. Please read the policy and review the Declarations page, if applicable, for complete information on the coverages provided.

This Notice provides information concerning possible impact on insurance coverage due to any applicable trade or economic sanctions law or regulation, including but not limited to, trade or economic sanctions laws or regulations of the United Nations, European Union, Switzerland, United Kingdom, Canada or the United States Treasury Department’s Office of Foreign Assets Control.

Please read this Notice carefully.

If it is determined that you or any other insured, or any person or entity claiming the benefits of this insurance has violated any applicable trade or economic sanctions laws or regulations, including but not limited to those of the United Nations, European Union, Switzerland, United Kingdom, Canada or the United States Treasury Department’s Office of Foreign Assets Control, this insurance will be considered a blocked or frozen contract and all provisions of this insurance are immediately subject to restrictions. When an insurance policy is considered to be such a blocked or frozen contract, no payments or premium refunds may be made without authorization from the applicable regulator. Other limitations on the premiums and payments also apply.

EIL-CWN010A-1 1020

©Everest Reinsurance Company, 2020

Everest National Insurance Company
Everest Indemnity Insurance Company
Everest Security Insurance Company
Everest Reinsurance Company

Claim Reporting Guidelines

The Everest Claim Department is dedicated to providing prompt, thorough and professional claims service. Timely submission of Loss Notices complies with the terms and conditions of your policy and assists us in providing quality service to our policyholders.

The preferred method for notifying Everest of a claim would be via e-mail. However, Loss Notices may be submitted via mail, facsimile or e-mail. If immediate attention is needed, e-mail notification is strongly recommended.

By E-mail:

Claims E-mail: everestnationalnjclaim@everestre.com

By Mail:

Casualty Claims Department
Everest National Insurance Company
Warren Corporate Center
100 Everest Way
Warren, NJ 07059

By Facsimile:

Fax Claims:

(866) 283-4856

Consult Your Policy for Loss Reporting Requirements

Your policy identifies the information to be submitted with a First Notice of Loss. Additionally, the following information/documentation will always be helpful and often necessary in assisting us with our evaluation:

Citing Everest’s policy, or claim number, in all correspondence
Providing a copy of any lawsuit, demand for arbitration or mediation, a governmental agency notice, claim letter or any similar notice
Sending a copy of any internal reports related to the claim
Copies of status reports prepared by your defense counsel and/or your claim handler

Everest will acknowledge each First Notice of Loss, initiate contact with you, and will request any additional information that may be needed. Everest will identify the claim professional responsible for handling your reported loss and forward their specific contact information to you. If you become aware of any subsequent information that may impact your claim, you should immediately send it to your assigned claim professional.

If you have questions or would like to discuss a specific loss with one of our claim professionals, please feel free to contact us. Thank you.

This guideline is merely for illustrative purposes and does not purport to address every situation or circumstance that may arise. Notwithstanding any statements made herein, nothing contained in this guideline is intended to replace, modify or waive any terms, conditions or warranties contained in the policy. Everest expressly reserves and does not waive any of its rights and protections afforded under the policy.

Members of the Everest Re Group

EFI 03 00 06 09

EXCESS FOLLOW-FORM BOND DECLARATIONS

THE POLICY’S LIMIT OF LIABILITY WILL BE REDUCED BY CLAIM EXPENSES.

EVEREST REINSURANCE COMPANY

Warren Corporate Center
100 Everest Way
Warren, NJ 07059


BOND NUMBER: FL5FD00135-221		RENEWAL OF: FL5FD00135-211
PRODUCER NAME:	Willis Towers Watson Northeast, Inc.
ADDRESS:	Three Copley Place, Suite 300
	Boston, MA 02116

IN RETURN FOR THE PAYMENT OF THE PREMIUM, AND SUBJECT TO ALL THE TERMS OF THIS

BOND, THE INSURER AGREES TO PROVIDE THIS COVERAGE AS STATED IN THIS BOND.


ITEM 1.	NAMED INSURED: Fidelity Fixed Income and Asset Allocation Funds
	ADDRESS:	c/o FMR LLC
		88 Black Falcon, First Floor, East Side, Suite 167
		Boston, MA 02210
ITEM 2:	BOND PERIOD: FROM July 1, 2022 TO July 1, 2023
	12:01 A.M. LOCAL TIME AT THE ADDRESS OF THE NAMED INSURED SHOWN ABOVE.
ITEM 3.	AGGREGATE LIMIT OF LIABILITY:		$	7,000,000
	EXCESS OF:		$	100,000,000
ITEM 4.	SINGLE LOSS LIMIT OF LIABILITY:		$	7,000,000

ITEM 5.	UNDERLYING BOND (Includes all bonds listed under Paragraphs A. and B. below)
	A. PRIMARY BOND
	Bond Issuer	Bond No.		Bond Period		Single Loss Limit		Aggregate Limit
	Berkshire Hathaway Specialty 47-EPF-315882-02			7/01/2022-	$	15,000,000	$	15,000,000
	Insurance Company			7/01/2023

EFI 03 00 06 09

Page 1 of 4o

EFI 03 00 06 09


B. UNDERLYING BOND
Bond Issuer	Bond Period		Single Loss Limit		Aggregate Limit
Federal Insurance Company	7/01/2022-	$	10,000,000	$	10,000,000
	7/01/2023

National Union Fire Insurance	7/01/2022-	$	10,000,000	$	25,000,000
Company of Pittsburgh, Pa.	7/01/2023

ICI Mutual Insurance	7/01/2022-	$	15,000,000	$	35,000,000
Company	7/01/2023

Allied World Assurance	7/01/2022-	$	15,000,000	$	50,000,000
Company, AG	7/01/2023

Travelers Casualty and	7/01/2022-	$	10,000,000	$	65,000,000
Surety Company of America	7/01/2023

Continental Casualty	7/01/2022-	$	10,000,000	$	75,000,000
Company	7/01/2023

AXIS Insurance Company	7/01/2022-	$	5,000,000	$	85,000,000
	7/01/2023

Starr Indemnity & Liability	7/01/2022-	$	10,000,000	$	85,000,000
Company	7/01/2023

C. TOTAL LIMITS OF ALL UNDERLYING BOND(S) (INCLUDING PRIMARY BOND):


	$100,000,000

ITEM 6.	BOND PREMIUM: $23,450

ITEM 7.	RIDERS APPLICABLE TO THIS BOND ON THE ORIGINAL DATE OF ISSUE:


	Rider	Rider Number
	Absolute Tie-In Limit	EFI 03 21 06 09
	Additional Conditions Endorsement	EFI (E) CWM011A-1 0717
	Quota-Share Rider	EFI 03 18 06 09
	Advisory Notice Regarding Trade	EIL CWN010A-1 1020
	Or Economic Sanctions

THESE DECLARATIONS, TOGETHER WITH THE EXCESS FOLLOW-FORM DECLARATIONS PAGE AND ANY

ENDORSEMENT(S) AND THE APPLICATION, CONSTITUTE THE ABOVE NUMBERED BOND.

EFI 03 00 06 09

Page 2 of 4o

EFI 03 00 06 09

EXCESS FOLLOW-FORM BOND

THE POLICY’S LIMIT OF LIABILITY WILL BE REDUCED BY CLAIM EXPENSES.

PLEASE READ THE ENTIRE POLICY CAREFULLY.

Various provisions in this bond restrict coverage. Read the entire bond carefully to determine rights, duties and what is and is not covered.

Throughout this bond the words "you" and "your" refer to the “Insureds”. The words "we", "us" and "our" refer to the Insurer providing this bond.

SECTION I – INSURING AGREEMENT

SECTION II - LIMIT OF LIABILITY

A.	Aggregate Limit of Liability
	The amount stated in Item 3. of the Declarations is our maximum Aggregate Limit of Liability under this bond for all covered loss, including all covered costs and expenses . The Aggregate Limit of Liability shall be reduced by the amount of any payment made by us under the terms of this bond.
B.	Single Loss Limit of Liability
	Subject to the Aggregate Limit of Liability under Paragraph A. of this Section, our liability under this bond for each single loss shall not exceed the Single Loss Limit of Liability shown under Item 4. of the Declarations.

SECTION III – DEFINITIONS

A.	“Bond Period” means the period of time identified under Item 2. of the Declarations.
B.	“Insured” means the “Named Insured” and other entities and persons insured under the “Primary Bond”.
C.	“Named Insured” means the entity or person designated under Item 1. of the Declarations.
D.	“Primary Bond” means the bond designated under Item 5.A. of the Declarations.
E.	“Underlying Bond” means all those bonds scheduled under Item 5.A. and Item 5.B. of the Declarations.

SECTION IV – CONDITIONS

A.	Maintenance of Limit of Liability of Underlying Bond
	The “Underlying Bond(s)” shall be maintained during the “Bond Period” in full force and effect, except for any reduction of the limits of liability of the “Underlying Bond” due to payment of loss. Failure to comply with this requirement will not invalidate this bond, but we will only be liable to the same extent that we would have been had you fully complied with this requirement.
B.	Exhaustion of Limit of Liability of Underlying Bond
	This bond shall drop down only in the event of reduction or exhaustion of the limit(s) of liability of the “Underlying Bond” by reason of payment of covered loss under the “Underlying Bond”, and shall not drop down for any other reason including, but not limited to, uncollectibility (in whole or in part) of any “Underlying Bond”. The risk of uncollectibility of the “Underlying Bond” (in whole or in part) whether because of financial

EFI 03 00 06 09

Page 3 of 4o

EFI 03 00 06 09

impairment or insolvency of an underlying insurer or for any other reason, is expressly retained by the “Insureds” and is not in any way or under any circumstances insured or assumed by us.

C.	Changes to Underlying Bond
	You	must promptly notify us of any changes to the “Underlying Bond” which are made after its inception date.
	Any	changes made to the “Underlying Bond” after its inception shall not affect the terms and conditions of this
	bond,	which shall continue to apply as though no change had been made to the “Underlying Bond”.
D.	Bond Cancellation
	1.	You may cancel this bond. You must mail or deliver advance written notice to us stating when the cancellation is to take effect.
	2.	We may cancel this bond. If we cancel because of non-payment of premium, we must mail or deliver to you not less than ten (10) days advance written notice stating when cancellation is to take effect. If we cancel for any other reason, we must mail or deliver to you not less than ninety (90) days advance written notice, stating when the cancellation is to take effect. Mailing that notice to you at your mailing address shown in the Declarations will be sufficient to prove notice.
	3.	The bond period will end on the day and hour stated in the cancellation notice.
	4.	If we cancel, earned premium will be calculated pro rata based on the time this bond was in force.
	5.	If you cancel, earned premium will be calculated based on short rate tables.
	6.	The first “Named Insured” in Item 1. of the Declarations shall act on behalf of all other “Insureds” with respect to the giving and receiving of notice of cancellation and the receipt of any refund that may become payable under this bond.
	7.	Any of the provisions that conflict with a law that controls the cancellation of this bond is changed by this statement to comply with that law.
E.	Underlying Bond Cancellation
	This	bond is canceled immediately upon the termination of any “Underlying Bond” scheduled in Item 5.A. and
	Item	5.B. of the Declarations, whether by you or the applicable issuers of any “Underlying Bond”. You must
	promptly	notify us of the cancellation of the “Underlying Bond”. Such notice must be made when you send a
	notice	of cancellation of the “Underlying Bond” to, or when you receive such notice from, the issuer of the
	“Underlying	Bond”.
F.	Notice of Loss
	As	a condition precedent to coverage under this bond, you shall provide us with written notice of a loss under
	this	bond or any “Underlying Bond” in the same manner required by the terms and conditions of the “Primary
	Bond”.
	You	shall provide written notice as soon as practicable to the following address:

Everest Reinsurance Company
Warren Corporate Center
100 Everest Way
Warren, NJ 07059

G. Claim Participation

We shall maintain full and complete claims control as respects coverage under this bond for any loss, and no action by any other bond issuer shall bind us under this bond.

EFI 03 00 06 09

Page 4 of 4o

This policy is signed by officers of the Company shown on the Declarations page of this policy.

For: Everest Reinsurance Company


EIL 00 522 03 11	Ó Everest Reinsurance Company, 2008

THIS RIDER CHANGES THE BOND. PLEASE READ IT CAREFULLY.

ABSOLUTE TIE-IN LIMIT


Named Insured: Fidelity Fixed Income and Asset	Endorsement No.: 1
Allocation Funds
Policy No.: FL5FD00135-221	Effective date of Endorsement:	07/01/2022
Issuing Company: Everest Reinsurance Company

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. This rider modifies the following: EXCESS FOLLOW FORM BOND

In consideration of the premium charged, the following is added to SECTION II – LIMIT OF LIABILITY:

The respective Limits of Liability in Items 3 and 4 of the Declarations for this Bond shall be reduced by any and all amounts paid under any Other Policy.


		Other Policy


Insurer	Named Insured	Type of Policy	Policy No.	Policy Period
Everest National	Fidelity Fixed In-	Excess E&O	FL5EX00719-221	7/01/2022-
Insurance Company	come and Asset			7/01/2023
	Allocation Funds

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

EFI 03 21 06 09

Page 1 of 1o


ADDITIONAL CONDITIONS ENDORSEMENT
Named Insured:	Fidelity Fixed Income and Asset	Endorsement No.:	2
	Allocation Funds
Policy No.:	FL5FD00135-221	Effective date of Endorsement:		07/01/2022
Issuing Company: Everest Reinsurance Company

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

EFI (E) CWM011A-1 0717

Page 1 of 1


		QUOTA-SHARE RIDER


Named Insured: Fidelity Fixed Income and Asset				Endorsement No.:			3
	Allocation Funds
Policy No.:	FL5FD00135-221			Effective date of Endorsement: 07/01/2022
Issuing Company: Everest Reinsurance Company

	THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

		SCHEDULE
Quota-Share Bond Issuer		Quota-Share Bond				Quota-share	Bond Period
		Issuer’s				Bond
		Percentage				Issuer’s Limit
		Participation				of Liability
Everest Reinsurance Company		14	%		$	7,000,000	7/01/2022-7/01/2023

U.S. Specialty Insurance		16	%		$	8,000,000	7/01/2022-7/01/2023
Company

Twin City Fire Insurance		20	%		$	10,000,000	7/01/2022-7/01/2023
Company

		20	%		$	10,000,000	7/01/2022-7/01/2023
Freedom Specialty Insurance
Company
Hartford Fire Insurance		20	%		$	10,000,000	7/01/2022-7/01/2023
Company
XL Specialty Insurance		10	%		$	5,000,000	7/01/2022-7/01/2023
Company

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.


EFI 03 18 06 09	© Everest Reinsurance Company, 2009	Page 1 of 1

ADVISORY NOTICE REGARDING

TRADE OR ECONOMIC SANCTIONS

Please read this Notice carefully.

EIL-CWN010A-1 1020

©Everest Reinsurance Company, 2020

Everest National Insurance Company
Everest Indemnity Insurance Company
Everest Security Insurance Company
Everest Reinsurance Company

Claim Reporting Guidelines

By E-mail:

Claims E-mail: everestnationalnjclaim@everestre.com

By Mail:

Casualty Claims Department
Everest National Insurance Company
Warren Corporate Center
100 Everest Way
Warren, NJ 07059

By Facsimile:

Fax Claims:

(866) 283-4856

Consult Your Policy for Loss Reporting Requirements

Citing Everest’s policy, or claim number, in all correspondence
Providing a copy of any lawsuit, demand for arbitration or mediation, a governmental agency notice, claim letter or any similar notice
Sending a copy of any internal reports related to the claim
Copies of status reports prepared by your defense counsel and/or your claim handler

If you have questions or would like to discuss a specific loss with one of our claim professionals, please feel free to contact us. Thank you.

Members of the Everest Re Group

U.S. SPECIALTY INSURANCE COMPANY

THIS IS A CLAIMS MADE EXCESS POLICY WHICH APPLIES ONLY TO CLAIMS FIRST MADE AGAINST THE INSUREDS DURING THE POLICY PERIOD. THE LIMITS OF LIABILITY AVAILABLE TO PAY DAMAGES OR SETTLEMENTS WILL BE REDUCED, AND MAY BE EXHAUSTED, BY THE PAYMENT OF DEFENSE EXPENSES.


DECLARATIONS
EXCESS INDEMNITY POLICY
POLICY NUMBER: 24-MGU-22-A54574			RENEWAL OF: 24-MGU-21-A52198
ITEM 1.	INSURED:	Fidelity Equity and High Income Funds
		c/o FMR LLC 88 Black Falcon First Floor, East Side, Suite 167,
		Mailzone V7E
		Boston, MA 02210
ITEM 2.	POLICY PERIOD:

(a)	Inception Date: 7/1/2022
(b)	Expiration Date: 7/1/2023

at 12:01 a.m. at the Principal Address stated in ITEM 1.


ITEM 3.	LIMIT OF LIABILITY (INCLUSIVE OF DEFENSE EXPENSES):
	$8,000,000 Limit of Liability part of $50,000,000 excess of $100,000,000 Underlying Limits

ITEM 4.	SCHEDULE OF UNDERLYING INSURANCE:
	See Attached Schedule of Underlying Insurance.

ITEM 5.	PREMIUM: $24,941.00

ITEM 6.	NOTICES REQUIRED TO BE GIVEN TO INSURER MUST BE ADDRESSED TO:

	Street Address:		Facsimile Number:	E-mail Address:
	Tokio Marine HCC – D&O Group	(860)	676-1737	usclaims@tmhcc.com
	8 Forest Park Drive
	Farmington, CT 06032
	Attn: Claims Manager

ITEM 7.	ENDORSEMENTS ATTACHED AT ISSUANCE
3116E-MA 994-911 994-917 994-980 994-9022 994-9036 994-9094 80016

IN WITNESS WHEREOF, the Insurer has caused this Policy to be signed on the Declarations Page by its President, a Secretary and a duly authorized representative of the Insurer.

Date: August 15, 2022

USSIC 993 (04/2002)

U.S. SPECIALTY INSURANCE COMPANY

ENDORSEMENT NUMBER: 1

MASSACHUSETTS AMENDATORY ENDORSEMENT

This Endorsement, effective at 12:01 a.m. on 7/1/2022, forms part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company:

In consideration of the premium charged, it is agreed that:

(1)	The paragraph at the end of the Policy (beginning “In witness whereof”) is amended to read in its entirety as follows:

In witness whereof the Insurer has caused this Policy to be executed by its authorized officers.

(2)	The sentence at the end of the Declarations Page (beginning “IN WITNESS WHEREOF”) is amended to read in its entirety as follows:

IN WITNESS WHEREOF, the Insurer has caused this Policy to be signed on the Declarations Page by its President and a Secretary.

Accordingly, the countersignature line for an Authorized Representative is deleted in its entirety from the Declarations Page.

All other terms, conditions and limitations of this Policy shall remain unchanged.

______________________________________
Authorized Representative


USSIC 3116E-MA Ed. 10/05	Page 1 of 1

ENDORSEMENT NUMBER: 2

TIE-IN OF LIMITS ENDORSEMENT (AGGREGATE)

To be attached to and made a part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that:

(1)	For purposes of this endorsement, the term “Other Policy” means Policy Number 24-MGU-22- A54575 issued by the Insurer (or an affiliate of the Insurer).
(2)	Notwithstanding anything to the contrary in this Policy or the Other Policy, the Insurer’s combined maximum aggregate limit of liability under this Policy and the Other Policy shall be $8,000,000 part of $50,000,000. Accordingly, the Insurer’s limit of liability under this Policy shall be reduced, and may be exhausted, by actual payments made by the Insurer under the Other Policy, and the Insurer’s limit of liability under the Other Policy shall be reduced, and may be exhausted, by actual payments made by the Insurer under this Policy.
(3)	Nothing in this endorsement is intended, nor shall it be construed, to increase the limit of liability under this Policy (which shall remain the amount set forth in ITEM 3 of the Declarations) or the limit of liability under the Other Policy.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


994-911	Page 1 of 1
Ed. 06/05

ENDORSEMENT NUMBER: 3

SCHEDULE OF UNDERLYING INSURANCE

To be attached to and made a part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged it is hereby agreed and understood that the Schedule of Underlying Insurance on the Declarations page is amended to read as follows:


	Insurer		Policy Number			Limits
Primary	Berkshire Hathaway Specialty Insurance		47-EPF-315882-02		$	15,000,000
	Company
1st Excess	Federal Insurance Company		82484869		$	10,000,000
2nd Excess	National Union Fire Insurance Company of		01-317-28-50		$	10,000,000
	Pittsburgh, Pa.
3rd Excess	ICI Mutual Insurance Company		87153322	B	$	15,000,000
4th Excess	Allied World Assurance Company, Ltd.		C014840/012		$	15,000,000
5th Excess	Travelers Casualty Insurance Company of		106547262		$	10,000,000
	America
6th Excess	Continental Casualty Company		287042220		$	10,000,000
7th Excess	Starr Indemnity & Liability Company		1000059071221		$	10,000,000
7th Excess	AXIS Insurance Company	P	-001-000158021-03		$	5,000,000

Schedule of Quota Share Participants
Aggregate Limit for all quota share participants: $50,000,000

	Insurer		Policy Limits			Policy Number
Participant	Everest Reinsurance Company	$	7,000,000			FL5FD00012-221
Participant	XL Specialty Insurance Company	$	5,000,000			ELU183617-22
Participant	Freedom Specialty Insurance Company	$	10,000,000			XJO2208785
Participant	Lloyd's of London	$	5,000,000			13016	P22
Participant	Twin City Fire Insurance Company	$	10,000,000			08 FI 0252161 -22
Participant	Ironshore Indemnity Inc.	$	5,000,000			FI4NAB095D003

All other terms, conditions and limitations of this Policy will remain unchanged, including but not limited to the maximum aggregate Limit of Liability set forth in ITEM 3. of the Declarations.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:


By:
	Attorney-in-Fact


994-917	Page 1 of 1
Ed. 04/00

ENDORSEMENT NUMBER: 4

AMEND SETTLEMENT PROVISION

To be attached to and made a part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that Section V. is amended to read in its entirety as follows:

V.	SETTLEMENT
	The Insureds shall not admit liability for or settle any claim for any amount that would involve the coverage afforded by this Policy without the Insurer’s prior written consent, which will not be unreasonably withheld.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:


By:
	Attorney-in-Fact


994-980	Page 1 of 1
Ed. 03/05

ENDORSEMENT NUMBER: 5

AMEND INSURING AGREEMENT

To be attached to and made a part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that Section I of this Policy is deleted and replaced with the following:

INSURING AGREEMENT

The Insurer shall provide the Insureds with insurance excess of the Underlying Insurance scheduled in ITEM 4 of the Declarations. Except as specifically set forth in the terms, conditions or endorsements of this Policy, coverage hereunder shall apply in conformance with the terms, conditions, limitations and endorsements of the Primary Policy, subject to any more restrictive provisions of the other Underlying Insurance, except that coverage hereunder shall attach only after all Underlying Insurance has been exhausted by actual payment of claims or losses thereunder.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


994-9022	Page 1 of 1
Ed. 03/08

ENDORSEMENT NUMBER: 6

DELETE SECTION II.B (CANCELLATION OF UNDERLYING INSURANCE) AND AMEND SECTION IX (POLICY TERMINATION)

To be attached to and made a part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that:

(1)

Section II.B of the Policy is deleted in its entirety. However, nothing in this endorsement is intended, nor shall it be construed, to relieve the Insured of its obligation under Section VIII.B to give the Insurer written notice as soon as practicable of any cancellation of Underlying Insurance. Moreover, in the event a policy of Underlying Insurance is cancelled, the Insurer shall not be liable under this Policy earlier or to any greater extent than it would have been had the policy of Underlying Insurance not been cancelled.

(2)

The second sentence of Section II.A (Maintenance of Underlying Insurance) is deleted and replaced with the following:

The Insurer shall not be liable under this Policy earlier or to any greater extent than it would have been if the Insureds had complied with this condition.

(3) The following paragraph is added to Section IX:

This Policy is non-cancelable by the Insurer except for non-payment of premium. The Insurer may cancel this Policy for non-payment of premium by sending not less than 10 days notice of such cancellation to the entity named in ITEM 1 of the Declarations at such entity’s last known address.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


994-9036	Page 1 of 1
Ed. 01/09

ENDORSEMENT NUMBER: 7

TREATMENT OF PAYMENTS AS

REDUCING OR EXHAUSTING UNDERLYING LIMIT

To be attached to and made a part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that:

(1)	For purposes of this endorsement:
	(a)	A-Side Carrier means the issuer of any excess “Side A”/“Difference in Conditions”
		policy	written specifically excess of this Policy.
	(b)	Loss shall have the meaning ascribed to such term in the Primary Policy.
(2)	Notwithstanding anything in the Policy to the contrary:
	(a)	If an issuer of a policy of Underlying Insurance becomes financially insolvent or
		bankrupt	and, solely as a result of such financial insolvency or bankruptcy, fails to pay
		Loss	under such policy of Underlying Insurance, and if the Insureds, an A-Side
		Carrier	or any other entity actually makes payment for part or all of such Loss, then the
		Insurer	will treat such payment as if it had been made by such issuer for purposes of
		determining	reduction or exhaustion (as the case may be) of the limit of liability of such
		policy	of Underlying Insurance.
	(b)	If an issuer of a policy of Underlying Insurance fails to pay Loss under such policy of
		Underlying	Insurance for any reason other than such issuer’s financial insolvency or
		bankruptcy,	and if the Insureds, an A-Side Carrier or any other entity actually makes
		payment	for part or all of such Loss, then the Insurer will treat such payment as if it had
		been	made by such issuer for purposes of determining reduction or exhaustion (as the
		case	may be) of the limit of liability of such policy of Underlying Insurance, but only if
		the	Insureds:
		(i)	promptly notify the Insurer that the Insureds, an A-Side Carrier or any other entity intends to make such payment; and
		(ii)	advise the Insurer of the total amount of Loss that such issuer has paid or has agreed to pay (if any) under such policy of Underlying Insurance.
(3)	In no event shall any failure to pay on the part of an issuer of Underlying Insurance cause the
	Insurer	to be liable under this Policy earlier or to any greater extent than the Insurer would have
	been	if such issuer had paid its policy’s full limit of liability. Except as expressly provided in
	paragraph	(2) above, nothing in this endorsement shall be deemed to waive any term, condition or
	limitation	of this Policy or any policy of Underlying Insurance.


994-9094	Page 1 of 2
Ed. 11/13

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective Date of this endorsement:

By:________________________________
Attorney-in-Fact


994-9094	Page 2 of 2
Ed. 11/13

ENDORSEMENT NUMBER: 8

POLICYHOLDER DISCLOSURE – TERRORISM PREMIUM NOTICE

To be attached to and made a part of Policy No. 24-MGU-22-A54574, issued to Fidelity Equity and High Income Funds by U.S. Specialty Insurance Company.

Your Policy contains coverage for certain losses caused by terrorism. We are required to notify you of the portion of the premium, if any, attributable to the coverage for terrorist acts certified under the Terrorism Risk Insurance Act, as amended in 2019 (hereinafter “TRIA”). TRIA also requires us to provide disclosure of federal participation in payment of terrorism losses resulting from an “act of terrorism” as defined by Section 102(1) of TRIA.

Section 102(1) of TRIA defines the term “act of terrorism” as any act that is certified by the Secretary of the Treasury of the United States – in concurrence with the Secretary of Homeland Security and the Attorney General of the United States – to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of an air carrier or vessel or the premises of a United States mission; and to have been committed by an individual or individuals acting on behalf of any foreign person or foreign interest, as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion.

Please be advised that the actual coverage provided by your Policy for acts of terrorism, as is true for all coverages, is limited by the terms, conditions, exclusions, limits and other provisions of your Policy, any endorsements to the Policy and generally applicable rules of law.

YOU SHOULD KNOW THAT, WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM, SUCH LOSSES MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. UNDER THIS FORMULA, THE UNITED STATES GOVERNMENT generally reimburses 80% beginning on January 1, 2020 of covered terrorism losses exceeding the statutorily established deductible paid by the insurance company providing the coverage. The Terrorism Risk Insurance Act, as amended, contains a $100 billion cap that limits U.S. Government reimbursement as well as insurers’ liability for losses resulting from certified acts of terrorism when the amount of such losses exceeds $100 billion in any one calendar year. If the aggregate insured losses for all insurers exceed $100 billion, your coverage may be reduced.

The amount of your premium that is attributable to coverage for terrorist acts certified under TRIA is $0.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


80016	Page 1 of 1
Ed. 12/20

U.S. TREASURY DEPARTMENT'S OFFICE OFFOREIGN ASSETS CONTROL ("OFAC") ADVISORY NOTICE TOPOLICYHOLDERS

This Notice provides information concerning possible impact on your insurance coverage due to directives issued by OFAC. Please read this Notice carefully.

The Office of Foreign Assets Control (OFAC) administers and enforces sanctions policy, based on Presidential declarations of "national emergency". OFAC has identified and listed numerous:

Foreign agents;
Frontorganizations;
Terrorists;
Terrorist organizations;and
Narcotics traffickers;

as "Specially Designated Nationals and Blocked Persons". This list can be located on the United States Treasury's web site - http//www.treas.gov/ofac.

In accordance with OFAC regulations, if it is determined that you or any other insured, or any person or entity claiming the benefits of this insurance has violated U.S. sanctions law or is a Specially Designated National and Blocked Person, as identified by OFAC, this insurance will be considered a blocked or frozen contract and all provisions of this insurance are immediately subject to OFAC. When an insurance policy is considered to be such a blocked or frozen contract, no payments nor premium refunds may be made without authorization from OFAC. Other limitations on the premiums and payments also apply.


IL P 001 01 04	Reprinted, in part, with permission of	Page 1 of 1
ISO Properties, Inc.

U.S. SPECIALTY INSURANCE COMPANY

Excess Indemnity Policy

D&O Group
8 Forest Park Drive, Farmington, Connecticut 06032
main 860 674 1900 facsimile 860 676 1737

USSIC 994 (04/2002)

Page 1 of 4

U.S. SPECIALTY INSURANCE COMPANY

EXCESS INDEMNITY POLICY

This is a claims made policy. Please read it carefully.

In consideration of the payment of the premium, and in reliance upon all statements made and information furnished to the Insurer and to the issuers of the Underlying Insurance and subject to the Declarations and the limitations, conditions, provisions, any endorsements to and all other terms of this Policy, the Insurer and the Insureds agree as follows:

I.	INSURING AGREEMENT
	The	Insurer shall provide the Insureds with insurance excess of the Underlying Insurance
	scheduled	in ITEM 4 of the Declarations. Except as specifically set forth in the terms, conditions
	or	endorsements of this Policy, coverage hereunder shall apply in conformance with the terms,
	conditions,	limitations and endorsements of the policy immediately underlying this Policy, except
	that	coverage hereunder shall attach only after all Underlying Insurance has been exhausted by
	actual	payment of claims or losses thereunder.
II.	PRIMARY AND UNDERLYING INSURANCE
	A.	Maintenance of Underlying Insurance
		All of the Underlying Insurance scheduled in ITEM 4 of the Declarations shall be maintained during the Policy Period in full effect except for any reduction of the limits of liability available under the Underlying Insurance solely by reason of actual payment of claims or losses thereunder. Subject at all times to Section II.B of this Policy, the Insurer shall not be liable under this policy earlier or to any greater extent than it would have been if the Insureds had complied with this condition.
	B.	Cancellation of Underlying Insurance
		This Policy shall terminate immediately upon the cancellation of any one or more of the policies scheduled in ITEM 4 of the Declarations, whether cancelled by the Insureds or the applicable insurer. Notice of cancellation or non-renewal of any such policies duly given by any of the applicable insurers shall serve as notice of the cancellation or non- renewal of this Policy by the Insurer.
	C.	Amendment of Underlying Insurance
		No amendment to any Underlying Insurance during the Policy Period shall be effective in extending the coverage or limits of liability afforded by this Policy unless the Insurer so agrees in writing.
III.	DEFINITIONS
	A.	Insured means any person or organization insured under the policy immediately underlying this Policy.
	B.	Policy Period means the period from the inception date to the expiration date set forth in ITEM 2 of the Declarations, or to any earlier cancellation date.
	C.	Primary Policy means the policy scheduled as such in ITEM 4 of the Declarations.

USSIC 994 (04/2002)

Page 2 of 4

U.	S. SPECIALTY INSURANCE COMPANY
	D.	Underlying Insurance means all policies scheduled in ITEM 4 of the Declarations and any policies replacing them.
IV.	LIMITS OF LIABILITY
	A.	The amount or amounts stated in ITEM 3 of the Declarations are the limits of the Insurer’s liability and shall be the maximum amount(s) payable by the Insurer under this Policy. The limits of liability available under this Policy to pay damages or settlements shall be reduced, and may be exhausted, by the payment of defense expenses.
	B.	In the event of the reduction of the limits of liability of the Underlying Insurance solely as the result of actual payment of claims or losses thereunder by the applicable insurers, this Policy shall, subject to the Insurer’s limits of liability and to the other terms, conditions and endorsements of this Policy, continue to apply to claims or losses as excess insurance over the amount of insurance remaining under such Underlying Insurance.
	C.	In the event of the exhaustion of all of the limits of liability of such Underlying Insurance solely as the result of actual payment of claims or losses thereunder, the remaining limits available under this Policy shall, subject to the Insurer’s limits of liability and to the other terms, conditions and endorsements of this Policy, continue for subsequent claims or losses as primary insurance. Under such circumstances, any retention or deductible specified in the Primary Policy shall also apply to this Policy.
V.	SETTLEMENT
	The	Insureds shall not admit liability for or settle any claim for any amount that would involve
	the	coverage afforded by this Policy without the Insurer’s prior written consent.
VI.	CLAIM PARTICIPATION
	The	Insurer may, at its sole discretion, elect to participate in the investigation, settlement and/or
	defense	of any claim against the Insureds even if the Underlying Insurance has not been
	exhausted.
VII.	SUBROGATION AND RECOVERIES
	A.	In the event of any payment under this Policy, the Insurer shall be subrogated to all the Insureds’ rights of recovery against any person or organization, and the Insureds shall execute and deliver all instruments and papers and do whatever else is necessary to secure such rights.
	B.	Any amount recovered after payment under this Policy shall be apportioned in the inverse order of payment to the extent of actual payment. The expenses of all such recovery proceedings shall be apportioned in the same ratio as the recoveries.
VIII.	NOTICES
	A.	If the Insureds give any notice of any matter under the Underlying Insurance, the Insureds must also give the Insurer written notice of such matter in the same manner as required by the terms and conditions of the Primary Policy, except that such written notice must be sent to the Insurer at the address set forth in ITEM 6 of the Declarations.
	B.	The Insureds shall give the Insurer notice in writing as soon as practicable of:

USSIC 994 (04/2002)

Page 3 of 4

U.	S. SPECIALTY INSURANCE COMPANY
	1.	the cancellation of any Underlying Insurance, or
	2.	any additional or return premiums charged or allowed in connection with any
		Underlying Insurance.
IX.	POLICY TERMINATION

A.	This Policy may be canceled by the Insureds at any time either by surrender of this Policy or by written notice stating when thereafter such cancellation is to be effective.
	The mailing of such notice as aforesaid shall be sufficient proof of notice and this policy shall terminate at the date and hour specified in such notice.
B.	The Insurer shall refund the unearned premium computed at the customary short rate if the Policy is canceled by the Insureds.

X.	CONFORMITY TO STATUTE
	Any terms of this Policy which are in conflict with the terms of any applicable laws construing this Policy are hereby amended to conform to such laws.
XI.	AUTHORIZATION AND NOTICES
	The person or entity named in ITEM 1 of the Declarations shall be the sole agent, and shall act on behalf, of the Insureds with respect to all matters under this Policy, including but not limited to giving and receiving notices and other communication, effecting or accepting any endorsements to or notice of cancellation of this Policy, paying premium and receiving any return premiums.
XII.	NO ALTERATIONS WITHOUT ENDORSEMENT
	No change in or modification of this Policy shall be effective unless made by endorsement signed by an authorized employee of the Insurer or any of its agents relating to this Policy.

In witness whereof the Insurer has caused this Policy to be executed by its authorized officers, but this Policy will not be valid unless countersigned on the Declarations Page by a duly authorized representative of the Insurer.

USSIC 994 (04/2002)

Page 4 of 4

AXA XL - Professional Insurance
100 Constitution Plaza, 17^thFloor,
Hartford, CT 06103
Phone 860-246-1863, Fax 860-246-1899

August 10, 2022

Mary Coughlin
Willis Towers Watson Northeast Inc.
75 Arlington Street
Floor 10
Boston, MA 02116

Re: Fidelity Fixed Income and Asset Allocation Funds Excess Bond Policy

Dear Mary,

Enclosed, please find the policy for Fidelity Fixed Income and Asset Allocation Funds. Thank you for choosing XL Insurance. Please call if you have any questions or concerns.

Bill Caporale

ko


Policy Number:	ELU183647-22	XL Specialty Insurance Company
Renewal of Number:	ELU175972-21	(Hereafter called the Insurer)

	EXCESS POLICY DECLARATIONS

Executive Offices:

70 Seaview Avenue Stamford, CT 06902-6040 Telephone 877-953-2636

Regulatory Office:

505 Eagleview Blvd., Ste. 100 Exton, PA 19341-1120 Telephone: 800-327-1414

Item 1. Name and Mailing Address of Insured Entity:

Fidelity Fixed Income and Asset Allocation Funds
c/o FMR LLC
88 Black Falcon
First Floor, East Side, Suite167
Mailzone V7E
Boston, MA 02210

The Insured Entity will be the sole agent for and will act on behalf of the Insured with respect to all matters under this Policy.


Item 2.		Policy Period:	From:	July 01, 2022	To:	July 01, 2023

			At 12:01AM Standard Time at your Mailing Address Shown Above

Item 3.		Limit of Liability:

	$	5,000,000 part of $50,000,000		Aggregate each Policy Period (including Defense Expenses)

Item 4.		Schedule of Underlying Insurance:

				Insurer	Policy No				Limit of Liability
				Berkshire Hathaway	47-EPF-315882-02			$	15,000,000
(a)		Primary Policy		Specialty Insurance
				Company
				Federal Insurance	82484869			$	10,000,000
(b)		Underlying Excess Policy		Company
				National Union Fire	01-317-28-50			$	10,000,000
				Insurance Company of
				Pittsburgh PA
				ICI Mutual Insurance	87153322			$	15,000,000
				Company
				Allied World Assurance	C014840/012			$	15,000,000
				Company, AG
				Travelers Casualty and	106547262			$	10,000,000
				Surety Company of
				America
				Continental Insurance	287042221			$	10,000,000
				Company
				AXIS Insurance	P-001-000158021-03				$5,000,000 part of
				Company				$	15,000,000
				Starr Indemnity &	1000059071221				$5,000,000 part of
				Liability Company				$	15,000,000
				Lloyd's of London	B080113012		P21		$5,000,000 part of
								$	50,000,000

XS 70 01 05 14									Page 1 of 2

2014 X.L. America, Inc. All Rights Reserved. May not be copied without permission.


National Casualty	XJO2208786		$10,000,000 part of
Company		$	50,000,000
Twin City Fire	08 FI 0252157 - 22		$10,000,000 part of
Insurance Company		$	50,000,000
US Specialty Insurance	24-MGU-22-A54576		$8,000,000 part of
Company		$	50,000,000
Everest Reinsurance	FL5FD00719-221		$7,000,000 part of
Company		$	50,000,000
Ironshore Indemnity	FI4NAB095H003		$5,000,000 part of
Inc.		$	50,000,000


Item 5.	Notices required to be given to the Insurer must be addressed to:
	XL Professional Insurance
	100 Constitution Plaza, 17^thFloor
	Hartford, CT 06103
	by electronic mail (email) to: proclaimnewnotices@axaxl.com.
	Toll Free Telephone: 877-953-2636

Item 6.	Premium:

	Taxes, Surcharges or Fees:	$	0.00
	Total Policy Premium:	$	15,589.00

Item 7.	Policy Forms and Endorsements Attached at Issuance:
	XS 71 00 05 14 XS 80 07 12 14		XL 80 23 07 02

THESE DECLARATIONS AND THE POLICY, WITH THE ENDORSEMENTS, ATTACHMENTS, AND THE APPLICATION SHALL CONSTITUTE THE

ENTIRE AGREEMENT BETWEEN THE INSURER AND THE INSURED RELATING TO THIS INSURANCE.

XS 70 01 05 14

Page 2 of 2

2014 X.L. America, Inc. All Rights Reserved. May not be copied without permission.

IN WITNESS

XL SPECIALTY INSURANCE COMPANY

REGULATORY OFFICE

505 EAGLEVIEW BOULEVARD, SUITE 100

DEPARTMENT: REGULATORY

EXTON, PA 19341-1120

PHONE: 800-688-1840

It is hereby agreed and understood that the following In Witness Clause supercedes any and all other In Witness clauses in this policy.

All other provisions remain unchanged.


Joseph Tocco President	Toni Ann Perkins Secretary

LAD 400 0915 XLS

2015 X.L. America, Inc. All Rights Reserved. May not be copied without permission.

POLICYHOLDER DISCLOSURE
NOTICE OF TERRORISM
INSURANCE COVERAGE

Coverage for acts of terrorism is included in your policy. You are hereby notified that the Terrorism Risk Insurance

PN161 12 20 T

Includes copyrighted material of National Association of Insurance Commissioners, with its permission.

NOTICE TO POLICYHOLDERS

U.S. TREASURY DEPARTMENT’S OFFICE OF FOREIGN ASSETS CONTROL

(“OFAC”)

This Policyholder Notice provides information concerning possible impact on your insurance coverage due to the impact of U.S. Trade Sanctions¹. Please read this Policyholder Notice carefully.

¹“U.S Trade Sanctions” may be promulgated by Executive Order, act of Congress, regulations from the

U.S. Departments of State, Treasury, or Commerce, regulations from the State Insurance Departments, etc.

PN CW 05 0519

Includes copyrighted material of Insurance Services Office, Inc., with its permission.

NOTICE TO POLICYHOLDERS

PRIVACY POLICY

Our Privacy Promise

1.	We will follow strict standards of security and confidentiality to protect any information you share with us or information that we receive about you;
2.	We will verify and exchange information regarding your credit and financial status only for the purposes of underwriting, policy administration, or risk management and only with reputable references and clearinghouse services;
3.	We will not collect and use information about you and your business other than the minimum amount of information necessary to advise you about and deliver to you excellent service and products and to administer our business;
4.	We will train our employees to handle information about you or your business in a secure and confidential manner and only permit employees authorized to use such information to have access to such information;
5.	We will not disclose information about you or your business to any organization outside the XL Catlin insurance group of Companies or to third party service providers unless we disclose to you our intent to do so or we are required to do so by law;
6.	We will not disclose medical information about you, your employees, or any claimants under any policy of insurance, unless you provide us with written authorization to do so, or unless the disclosure is for any specific business exception provided in the law;
7.	We will attempt, with your help, to keep our records regarding you and your business complete and accurate, and will advise you how and where to access your account information (unless prohibited by law), and will advise you how to correct errors or make changes to that information; and
8.	We will audit and assess our operations, personnel and third party service providers to assure that your privacy is respected.

Collection and Sources of Information

Submission – During the submission process, you provide us with information about you and your business, such as your name, address, phone number, e-mail address, and other types of personal identification information;
Quotes – We collect information to enable us to determine your eligibility for the particular insurance product and to determine the cost of such insurance to you. The information we collect will vary with the type of insurance you seek;

PN CW 02 0119

Page 1 of 3

NOTICE TO POLICYHOLDERS

Transactions – We will maintain records of all transactions with us, our affiliates, and our third party service providers, including your insurance coverage selections, premiums, billing and payment information, claims history, and other information related to your account;
Claims – If you obtain insurance from us, we will maintain records related to any claims that may be made under your policies. The investigation of a claim necessarily involves collection of a broad range of information about many issues, some of which does not directly involve you. We will share with you any facts that we collect about your claim unless we are prohibited by law from doing so. The process of claim investigation, evaluation, and settlement also involves, however, the collection of advice, opinions, and comments from many people, including attorneys and experts, to aid the claim specialist in determining how best to handle your claim. In order to protect the legal and transactional confidentiality and privileges associated with such opinions, comments and advice, we will not disclose this information to you; and
Credit and Financial Reports – We may receive information about you and your business regarding your credit. We use this information to verify information you provide during the submission and quote processes and to help underwrite and provide to you the most accurate and cost-effective insurance quote we can provide.

Retention and Correction of Personal Information

Storage of Personal Information

We have in place safeguards to protect data and paper files containing personal information.

Sharing/Disclosing of Personal Information

Policy for Personal Information Relating to Nonpublic Personal Health Information

PN CW 02 0119

Page 2 of 3

NOTICE TO POLICYHOLDERS

Access to Your Information

Your independent insurance agent or broker;
An independent claim adjuster or investigator, or an attorney or expert involved in the claim;
Persons or organizations that conduct scientific studies, including actuaries and accountants;
An insurance support organization;
Another insurer if to prevent fraud or to properly underwrite a risk;
A state insurance department or other governmental agency, if required by federal, state or local laws; or
Any persons entitled to receive information as ordered by a summons, court order, search warrant, or subpoena.

Violation of the Privacy Policy

Any person violating the Privacy Policy will be subject to discipline, up to and including termination.

For more information or to address questions regarding this privacy statement, please contact your broker.

PN CW 02 0119

Page 3 of 3


	NOTICE TO POLICYHOLDERS FRAUD NOTICE


Alabama	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or who knowingly presents false information in an application for insurance is guilty of a crime and may be subject to restitution fines or confinement in prison, or any combination thereof.
Arkansas	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
California	General: All applications for commercial insurance, other than liability insurance: Any person who knowingly and willfully presents false information in an application for insurance may be guilty of insurance fraud and subject to fines and confinement in prison. All applications for liability insurance and all claim forms: For your protection California law requires the following to appear on this form: Any person who knowingly presents false or fraudulent information to obtain or amend insurance coverage or to make a claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison.
Colorado	It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company for the purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance, and civil damages. Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies.
District of Columbia	WARNING: It is a crime to provide false or misleading information to an insurer for the purpose of defrauding the insurer or any other person. Penalties include imprisonment and/or fines. In addition, an insurer may deny insurance benefits if false information materially related to a claim was provided by the applicant.
Florida	Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing any false, incomplete, or misleading information is guilty of a felony of the third degree.
Kansas	A "fraudulent insurance act" means an act committed by any person who, knowingly and with intent to defraud, presents, causes to be presented or prepares with knowledge or belief that it will be presented to or by an insurer, purported insurer, broker or any agent thereof, any written, electronic, electronic impulse, facsimile, magnetic, oral, or telephonic communication or statement as part of, or in support of, an application for the issuance of, or the rating of an insurance policy for personal or commercial insurance, or a claim for payment or other benefit pursuant to an insurance policy for commercial or personal insurance that such person knows to contain materially false information concerning any fact material thereto; or conceals, for the purpose of misleading, information concerning any fact material thereto.
Kentucky	Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance containing any materially false information or conceals, for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime.
Louisiana	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
Maine	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties may include

PN CW 01 0122	Page 1 of 3 © 2022 X.L. America, Inc. All Rights Reserved. May not be copied without permission.


	NOTICE TO POLICYHOLDERS imprisonment, fines, or denial of insurance benefits.
Maryland	Any person who knowingly or willfully presents a false or fraudulent claim for payment of a loss or benefit or who knowingly or willfully presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
New Jersey	Any person who includes any false or misleading information on an application for an insurance policy is subject to criminal and civil penalties.
New Mexico	ANY PERSON WHO KNOWINGLY PRESENTS A FALSE OR FRAUDULENT CLAIM FOR PAYMENT OF A LOSS OR BENEFIT OR KNOWINGLY PRESENTS FALSE INFORMATION IN AN APPLICATION FOR INSURANCE IS GUILTY OF A CRIME AND MAY BE SUBJECT TO CIVIL FINES AND CRIMINAL PENALTIES.
New York	General: All applications for commercial insurance, other than automobile insurance: Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime, and shall also be subject to a civil penalty not to exceed five thousand dollars and the stated value of the claim for each such violation. All applications for automobile insurance and all claim forms: Any person who knowingly makes or knowingly assists, abets, solicits or conspires with another to make a false report of the theft, destruction, damage or conversion of any motor vehicle to a law enforcement agency, the department of motor vehicles or an insurance company, commits a fraudulent insurance act, which is a crime, and shall also be subject to a civil penalty not to exceed five thousand dollars and the value of the subject motor vehicle or stated claim for each violation. Fire: Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance containing any false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a fraudulent insurance act, which is a crime. The proposed insured affirms that the foregoing information is true and agrees that these applications shall constitute a part of any policy issued whether attached or not and that any willful concealment or misrepresentation of a material fact or circumstances shall be grounds to rescind the insurance policy.
Ohio	Any person who, with intent to defraud or knowing that he is facilitating a fraud against an insurer, submits an application or files a claim containing a false or deceptive statement is guilty of insurance fraud.
Oklahoma	WARNING: Any person who knowingly, and with intent to injure, defraud or deceive any insurer, makes any claim for the proceeds of an insurance policy containing any false, incomplete or misleading information is guilty of a felony.

WARNING: All Workers Compensation Insurance:

1.	obtaining any benefit or payment,
2.	increasing any claim for benefit or payment, or
3.	obtaining workers' compensation coverage under the Administrative Workers' Compensation Act, shall be guilty of a felony punishable pursuant to Section 1663 of Title 21 of the Oklahoma Statutes.

PN CW 01 0122

Page 2 of 3


	NOTICE TO POLICYHOLDERS


Pennsylvania	Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties. Automobile Insurance: Any person who knowingly and with intent to injure or defraud any insurer files an application or claim containing any false, incomplete or misleading information shall, upon conviction, be subject to imprisonment for up to seven years and the payment of a fine of up to $15,000.
Puerto Rico	Any person who knowingly and with the intention of defrauding presents false information in an insurance application, or presents, helps, or causes the presentation of a fraudulent claim for the payment of a loss or any other benefit, or presents more than one claim for the same damage or loss, shall incur a felony and, upon conviction, shall be sanctioned for each violation by a fine of not less than five thousand dollars ($5,000) and not more than ten thousand dollars ($10,000), or a fixed term of imprisonment for three (3) years, or both penalties. Should aggravating circumstances [be] present, the penalty thus established may be increased to a maximum of five (5) years, if extenuating circumstances are present, it may be reduced to a minimum of two (2) years.
Rhode Island	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
Tennessee	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits. Workers’ Compensation: It is a crime to knowingly provide false, incomplete or misleading information to any party to a workers’ compensation transaction for the purpose of committing fraud. Penalties include imprisonment, fines and denial of insurance benefits.
Utah	Workers’ Compensation: Any person who knowingly presents false or fraudulent underwriting information, files or causes to be filed a false or fraudulent claim for disability compensation or medical benefits, or submits a false or fraudulent report or billing for health care fees or other professional services is guilty of a crime and may be subject to fines and confinement in state prison.
Virginia	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits.
Washington	It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits.
West Virginia	Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
All Other States	Any person who knowingly and willfully presents false information in an application for insurance may be guilty of insurance fraud and subject to fines and confinement in prison. (In Oregon, the aforementioned actions may constitute a fraudulent insurance act which may be a crime and may subject the person to penalties).

PN CW 01 0122

Page 3 of 3

XS 80 07 12 14

Endorsement No.: 1

Named Insured: Fidelity Fixed Income and Asset Allocation Funds

Policy No.: ELU183647-22

Effective: July 01, 2022

12:01 A.M. Standard Time

Insurer: XL Specialty Insurance Company

EXCESS ENDORSEMENT

In consideration of the premium charged:

(1)

(2)

All other terms, conditions and limitations of this Policy shall remain unchanged.

XS 80 07 12 14

Page 1 of 1

XL 80 23 07 02

Endorsement No.: 2

Named Insured: Fidelity Fixed Income and Asset Allocation Funds

Policy No.: ELU183647-22

Effective: July 01, 2022

12:01 A.M. Standard Time

Insurer: XL Specialty Insurance Company

TIE IN LIMITS ENDORSEMENT

Other Policy(ies)

Excess Liability Policy (Mutual Funds, $5,000,000 part of $50,000,000 x $100,000,000), Policy No.

ELU183645-22 Issued by: XL Specialty Insurance Company

(1)	Any payment of loss or damages, including costs and expenses of defense, under this Policy will reduce the limit of liability available under the Other Policy(ies) for the defense and settlement of, or the payment of any liabilities in connection with, any claim or claims made under the Other Policy(ies).
(2)	Any payment of loss or damages, including costs and expenses of defense, under the Other Policy(ies) will reduce the Limit of Liability available under this Policy for the defense and settlement of, or the payment of any liabilities in connection with, any claim or claims made under this Policy during the Policy Period.
(3)	If the Insurer shall have paid loss or damages, including costs and expenses of defense, under this Policy and loss or damages, including costs and expenses of defense, under the Other Policy(ies) in an aggregate amount equaling $5,000,000 any and all obligations of the Insurer under this Policy will be completely fulfilled and extinguished, and the Insurer will have no further obligations of any kind or nature whatsoever under this Policy.

All other terms, conditions and limitations of this Policy shall remain unchanged.

XL 80 23 07 02

Page 1 of 1

EXCESS POLICY COVERAGE FORM

I. INSURING AGREEMENT

II. DEPLETION OF UNDERLYING LIMITS OF LIABILITY

III. RIGHTS AND CLAIM PARTICIPATION

IV. LIMIT OF LIABILITY

V.	NOTICE, ALTERATION, AND TERMINATION
(A)	Where the Underlying Insurance permits or requires notice to the Insurer, the insureds shall have the same obligations and rights to notify the Insurer under this Policy. All notices required under the Underlying Insurance policies and this Policy shall be sent to the address set forth in ITEM (5) of the Declarations: Attention Claim Department or by electronic mail to: proclaimnewnotices@xlgroup.com. Notice given to any underlying insurer will not be deemed notice to the Insurer.
(B)	No change in or modification of this Policy shall be effective unless made by endorsement. In the event of a change of any kind to any Underlying Insurance that broadens or expands coverage, this Policy will become subject to such change only if and to the extent that the Insurer consents to such change in writing and the insured pays any additional premium that may be required by the Insurer.
(C)	This Policy will terminate immediately upon the termination of any of the Underlying Insurance, whether cancelled by the insured or the applicable insurer. Notice of cancellation or non-renewal of any such policies duly given by any of the applicable insurers shall serve as notice of the cancellation or non-renewal of this Policy by the Insurer.

XS 71 00 05 14

Page 1 of 1

U.S. SPECIALTY INSURANCE COMPANY


DECLARATIONS
EXCESS INDEMNITY POLICY
POLICY NUMBER: 24-MGU-22-A54576			RENEWAL OF: 24-MGU-21-A52196
ITEM 1.	INSURED:	Fidelity Fixed Income and Asset Allocation Funds
		c/o FMR LLC 88 Black Falcon First Floor, East Side, Suite 167,
		Mailzone V7E
		Boston, MA 02210
ITEM 2.	POLICY PERIOD:

(a)	Inception Date: 7/1/2022
(b)	Expiration Date: 7/1/2023

at 12:01 a.m. at the Principal Address stated in ITEM 1.


ITEM 3.	LIMIT OF LIABILITY (INCLUSIVE OF DEFENSE EXPENSES):
	$8,000,000 Limit of Liability part of $50,000,000 excess of $100,000,000 Underlying Limits

ITEM 4.	SCHEDULE OF UNDERLYING INSURANCE:
	See Attached Schedule of Underlying Insurance.

ITEM 5.	PREMIUM: $24,941.00

ITEM 6.	NOTICES REQUIRED TO BE GIVEN TO INSURER MUST BE ADDRESSED TO:

	Street Address:		Facsimile Number:	E-mail Address:
	Tokio Marine HCC – D&O Group	(860)	676-1737	usclaims@tmhcc.com
	8 Forest Park Drive
	Farmington, CT 06032
	Attn: Claims Manager

ITEM 7.	ENDORSEMENTS ATTACHED AT ISSUANCE
3116E-MA 994-911 994-917 994-980 994-9022 994-9036 994-9094 80016

IN WITNESS WHEREOF, the Insurer has caused this Policy to be signed on the Declarations Page by its President, a Secretary and a duly authorized representative of the Insurer.

Date: August 15, 2022

USSIC 993 (04/2002)

U.S. SPECIALTY INSURANCE COMPANY

ENDORSEMENT NUMBER: 1

MASSACHUSETTS AMENDATORY ENDORSEMENT

This Endorsement, effective at 12:01 a.m. on 7/1/2022, forms part of Policy No. 24-MGU-22-A54576, issued to Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company:

In consideration of the premium charged, it is agreed that:

(1)	The paragraph at the end of the Policy (beginning “In witness whereof”) is amended to read in its entirety as follows:

In witness whereof the Insurer has caused this Policy to be executed by its authorized officers.

(2)	The sentence at the end of the Declarations Page (beginning “IN WITNESS WHEREOF”) is amended to read in its entirety as follows:

IN WITNESS WHEREOF, the Insurer has caused this Policy to be signed on the Declarations Page by its President and a Secretary.

Accordingly, the countersignature line for an Authorized Representative is deleted in its entirety from the Declarations Page.

All other terms, conditions and limitations of this Policy shall remain unchanged.

______________________________________
Authorized Representative


USSIC 3116E-MA Ed. 10/05	Page 1 of 1

ENDORSEMENT NUMBER: 2

TIE-IN OF LIMITS ENDORSEMENT (AGGREGATE)

To be attached to and made a part of Policy No. 24-MGU-22-A54576, issued to

Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that:

(1)	For purposes of this endorsement, the term “Other Policy” means Policy Number 24-MGU-22- A54577 issued by the Insurer (or an affiliate of the Insurer).
(2)	Notwithstanding anything to the contrary in this Policy or the Other Policy, the Insurer’s combined maximum aggregate limit of liability under this Policy and the Other Policy shall be $8,000,000 part of $50,000,000. Accordingly, the Insurer’s limit of liability under this Policy shall be reduced, and may be exhausted, by actual payments made by the Insurer under the Other Policy, and the Insurer’s limit of liability under the Other Policy shall be reduced, and may be exhausted, by actual payments made by the Insurer under this Policy.
(3)	Nothing in this endorsement is intended, nor shall it be construed, to increase the limit of liability under this Policy (which shall remain the amount set forth in ITEM 3 of the Declarations) or the limit of liability under the Other Policy.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


994-911	Page 1 of 1
Ed. 06/05

ENDORSEMENT NUMBER: 3

SCHEDULE OF UNDERLYING INSURANCE

To be attached to and made a part of Policy No. 24-MGU-22-A54576, issued to

Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged it is hereby agreed and understood that the Schedule of Underlying Insurance on the Declarations page is amended to read as follows:


	Insurer		Policy Number			Limits
Primary	Berkshire Hathaway Specialty Insurance		47-EPF-315882-02		$	15,000,000
	Company
1st Excess	Federal Insurance Company		82484869		$	10,000,000
2nd Excess	National Union Fire Insurance Company of		01-317-28-50		$	10,000,000
	Pittsburgh, Pa.
3rd Excess	ICI Mutual Insurance Company		87153322	B	$	15,000,000
4th Excess	Allied World Assurance Company, Ltd.		C014840/012		$	15,000,000
5th Excess	Travelers Casualty and Surety Company of		106547262		$	10,000,000
	America
6th Excess	Continental Casualty Company		287042220		$	10,000,000
7th Excess	Starr Indemnity & Liability Company		1000059071221		$	10,000,000
7th Excess	AXIS Insurance Company	P	-001-000158021-03		$	5,000,000


Schedule of Quota Share Participants
Aggregate Limit for all quota share participants: $50,000,000

	Insurer		Policy Limits			Policy Number
Participant	Everest Reinsurance Company	$	7,000,000			EFI 03 00 06 09
Participant	XL Specialty Insurance Company	$	5,000,000			ELU183647-22
Participant	Freedom Specialty Insurance Company	$	10,000,000			XJO2208786
Participant	Lloyd's of London	$	5,000,000			13012	P21
Participant	Twin City Fire Insurance Company	$	10,000,000			08 FI 0252157-22
Participant	Ironshore Indemnity Inc.	$	5,000,000			FI4NAB095H003

All other terms, conditions and limitations of this Policy will remain unchanged, including but not limited to the maximum aggregate Limit of Liability set forth in ITEM 3. of the Declarations.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:


By:
	Attorney-in-Fact


994-917	Page 1 of 1
Ed. 04/00

ENDORSEMENT NUMBER: 4

AMEND SETTLEMENT PROVISION

To be attached to and made a part of Policy No. 24-MGU-22-A54576, issued to

Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that Section V. is amended to read in its entirety as follows:

V.	SETTLEMENT
	The Insureds shall not admit liability for or settle any claim for any amount that would involve the coverage afforded by this Policy without the Insurer’s prior written consent, which will not be unreasonably withheld.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:


By:
	Attorney-in-Fact


994-980	Page 1 of 1
Ed. 03/05

ENDORSEMENT NUMBER: 5

AMEND INSURING AGREEMENT

To be attached to and made a part of Policy No. 24-MGU-22-A54576, issued to

Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that Section I of this Policy is deleted and replaced with the following:

INSURING AGREEMENT

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


994-9022	Page 1 of 1
Ed. 03/08

ENDORSEMENT NUMBER: 6

DELETE SECTION II.B (CANCELLATION OF UNDERLYING INSURANCE) AND AMEND SECTION IX (POLICY TERMINATION)

To be attached to and made a part of Policy No. 24-MGU-22-A54576, issued to

Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that:

(1)

(2)

The second sentence of Section II.A (Maintenance of Underlying Insurance) is deleted and replaced with the following:

The Insurer shall not be liable under this Policy earlier or to any greater extent than it would have been if the Insureds had complied with this condition.

(3) The following paragraph is added to Section IX:

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


994-9036	Page 1 of 1
Ed. 01/09

ENDORSEMENT NUMBER: 7

TREATMENT OF PAYMENTS AS

REDUCING OR EXHAUSTING UNDERLYING LIMIT

To be attached to and made a part of Policy No. 24-MGU-22-A54576, issued to

Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company.

In consideration of the premium charged, it is agreed that:

(1)	For purposes of this endorsement:
	(a)	A-Side Carrier means the issuer of any excess “Side A”/“Difference in Conditions”
		policy	written specifically excess of this Policy.
	(b)	Loss shall have the meaning ascribed to such term in the Primary Policy.
(2)	Notwithstanding anything in the Policy to the contrary:
	(a)	If an issuer of a policy of Underlying Insurance becomes financially insolvent or
		bankrupt	and, solely as a result of such financial insolvency or bankruptcy, fails to pay
		Loss	under such policy of Underlying Insurance, and if the Insureds, an A-Side
		Carrier	or any other entity actually makes payment for part or all of such Loss, then the
		Insurer	will treat such payment as if it had been made by such issuer for purposes of
		determining	reduction or exhaustion (as the case may be) of the limit of liability of such
		policy	of Underlying Insurance.
	(b)	If an issuer of a policy of Underlying Insurance fails to pay Loss under such policy of
		Underlying	Insurance for any reason other than such issuer’s financial insolvency or
		bankruptcy,	and if the Insureds, an A-Side Carrier or any other entity actually makes
		payment	for part or all of such Loss, then the Insurer will treat such payment as if it had
		been	made by such issuer for purposes of determining reduction or exhaustion (as the
		case	may be) of the limit of liability of such policy of Underlying Insurance, but only if
		the	Insureds:
		(i)	promptly notify the Insurer that the Insureds, an A-Side Carrier or any other entity intends to make such payment; and
		(ii)	advise the Insurer of the total amount of Loss that such issuer has paid or has agreed to pay (if any) under such policy of Underlying Insurance.
(3)	In no event shall any failure to pay on the part of an issuer of Underlying Insurance cause the
	Insurer	to be liable under this Policy earlier or to any greater extent than the Insurer would have
	been	if such issuer had paid its policy’s full limit of liability. Except as expressly provided in
	paragraph	(2) above, nothing in this endorsement shall be deemed to waive any term, condition or
	limitation	of this Policy or any policy of Underlying Insurance.


994-9094	Page 1 of 2
Ed. 11/13

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective Date of this endorsement:

By:________________________________
Attorney-in-Fact


994-9094	Page 2 of 2
Ed. 11/13

ENDORSEMENT NUMBER: 8

POLICYHOLDER DISCLOSURE – TERRORISM PREMIUM NOTICE

To be attached to and made a part of Policy No. 24-MGU-22-A54576, issued to

Fidelity Fixed Income and Asset Allocation Funds by U.S. Specialty Insurance Company.

The amount of your premium that is attributable to coverage for terrorist acts certified under TRIA is $0.

All other terms, conditions and limitations of this Policy will remain unchanged.

Complete the following only when this endorsement is not prepared with the Policy or is not to be effective with the Policy.

Effective date of this endorsement:

By:________________________________
Attorney-in-Fact


80016	Page 1 of 1
Ed. 12/20

U.S. TREASURY DEPARTMENT'S OFFICE OFFOREIGN ASSETS CONTROL ("OFAC") ADVISORY NOTICE TOPOLICYHOLDERS

This Notice provides information concerning possible impact on your insurance coverage due to directives issued by OFAC. Please read this Notice carefully.

The Office of Foreign Assets Control (OFAC) administers and enforces sanctions policy, based on Presidential declarations of "national emergency". OFAC has identified and listed numerous:

Foreign agents;
Frontorganizations;
Terrorists;
Terrorist organizations;and
Narcotics traffickers;

as "Specially Designated Nationals and Blocked Persons". This list can be located on the United States Treasury's web site - http//www.treas.gov/ofac.


IL P 001 01 04	Reprinted, in part, with permission of	Page 1 of 1
ISO Properties, Inc.

U.S. SPECIALTY INSURANCE COMPANY

Excess Indemnity Policy

D&O Group
8 Forest Park Drive, Farmington, Connecticut 06032
main 860 674 1900 facsimile 860 676 1737

USSIC 994 (04/2002)

Page 1 of 4

U.S. SPECIALTY INSURANCE COMPANY

EXCESS INDEMNITY POLICY

This is a claims made policy. Please read it carefully.

I.	INSURING AGREEMENT
	The	Insurer shall provide the Insureds with insurance excess of the Underlying Insurance
	scheduled	in ITEM 4 of the Declarations. Except as specifically set forth in the terms, conditions
	or	endorsements of this Policy, coverage hereunder shall apply in conformance with the terms,
	conditions,	limitations and endorsements of the policy immediately underlying this Policy, except
	that	coverage hereunder shall attach only after all Underlying Insurance has been exhausted by
	actual	payment of claims or losses thereunder.
II.	PRIMARY AND UNDERLYING INSURANCE
	A.	Maintenance of Underlying Insurance
		All of the Underlying Insurance scheduled in ITEM 4 of the Declarations shall be maintained during the Policy Period in full effect except for any reduction of the limits of liability available under the Underlying Insurance solely by reason of actual payment of claims or losses thereunder. Subject at all times to Section II.B of this Policy, the Insurer shall not be liable under this policy earlier or to any greater extent than it would have been if the Insureds had complied with this condition.
	B.	Cancellation of Underlying Insurance
		This Policy shall terminate immediately upon the cancellation of any one or more of the policies scheduled in ITEM 4 of the Declarations, whether cancelled by the Insureds or the applicable insurer. Notice of cancellation or non-renewal of any such policies duly given by any of the applicable insurers shall serve as notice of the cancellation or non- renewal of this Policy by the Insurer.
	C.	Amendment of Underlying Insurance
		No amendment to any Underlying Insurance during the Policy Period shall be effective in extending the coverage or limits of liability afforded by this Policy unless the Insurer so agrees in writing.
III.	DEFINITIONS
	A.	Insured means any person or organization insured under the policy immediately underlying this Policy.
	B.	Policy Period means the period from the inception date to the expiration date set forth in ITEM 2 of the Declarations, or to any earlier cancellation date.
	C.	Primary Policy means the policy scheduled as such in ITEM 4 of the Declarations.

USSIC 994 (04/2002)

Page 2 of 4

U.	S. SPECIALTY INSURANCE COMPANY
	D.	Underlying Insurance means all policies scheduled in ITEM 4 of the Declarations and any policies replacing them.
IV.	LIMITS OF LIABILITY
	A.	The amount or amounts stated in ITEM 3 of the Declarations are the limits of the Insurer’s liability and shall be the maximum amount(s) payable by the Insurer under this Policy. The limits of liability available under this Policy to pay damages or settlements shall be reduced, and may be exhausted, by the payment of defense expenses.
	B.	In the event of the reduction of the limits of liability of the Underlying Insurance solely as the result of actual payment of claims or losses thereunder by the applicable insurers, this Policy shall, subject to the Insurer’s limits of liability and to the other terms, conditions and endorsements of this Policy, continue to apply to claims or losses as excess insurance over the amount of insurance remaining under such Underlying Insurance.
	C.	In the event of the exhaustion of all of the limits of liability of such Underlying Insurance solely as the result of actual payment of claims or losses thereunder, the remaining limits available under this Policy shall, subject to the Insurer’s limits of liability and to the other terms, conditions and endorsements of this Policy, continue for subsequent claims or losses as primary insurance. Under such circumstances, any retention or deductible specified in the Primary Policy shall also apply to this Policy.
V.	SETTLEMENT
	The	Insureds shall not admit liability for or settle any claim for any amount that would involve
	the	coverage afforded by this Policy without the Insurer’s prior written consent.
VI.	CLAIM PARTICIPATION
	The	Insurer may, at its sole discretion, elect to participate in the investigation, settlement and/or
	defense	of any claim against the Insureds even if the Underlying Insurance has not been
	exhausted.
VII.	SUBROGATION AND RECOVERIES
	A.	In the event of any payment under this Policy, the Insurer shall be subrogated to all the Insureds’ rights of recovery against any person or organization, and the Insureds shall execute and deliver all instruments and papers and do whatever else is necessary to secure such rights.
	B.	Any amount recovered after payment under this Policy shall be apportioned in the inverse order of payment to the extent of actual payment. The expenses of all such recovery proceedings shall be apportioned in the same ratio as the recoveries.
VIII.	NOTICES
	A.	If the Insureds give any notice of any matter under the Underlying Insurance, the Insureds must also give the Insurer written notice of such matter in the same manner as required by the terms and conditions of the Primary Policy, except that such written notice must be sent to the Insurer at the address set forth in ITEM 6 of the Declarations.
	B.	The Insureds shall give the Insurer notice in writing as soon as practicable of:

USSIC 994 (04/2002)

Page 3 of 4

U.	S. SPECIALTY INSURANCE COMPANY
	1.	the cancellation of any Underlying Insurance, or
	2.	any additional or return premiums charged or allowed in connection with any
		Underlying Insurance.
IX.	POLICY TERMINATION

A.	This Policy may be canceled by the Insureds at any time either by surrender of this Policy or by written notice stating when thereafter such cancellation is to be effective.
	The mailing of such notice as aforesaid shall be sufficient proof of notice and this policy shall terminate at the date and hour specified in such notice.
B.	The Insurer shall refund the unearned premium computed at the customary short rate if the Policy is canceled by the Insureds.

X.	CONFORMITY TO STATUTE
	Any terms of this Policy which are in conflict with the terms of any applicable laws construing this Policy are hereby amended to conform to such laws.
XI.	AUTHORIZATION AND NOTICES
	The person or entity named in ITEM 1 of the Declarations shall be the sole agent, and shall act on behalf, of the Insureds with respect to all matters under this Policy, including but not limited to giving and receiving notices and other communication, effecting or accepting any endorsements to or notice of cancellation of this Policy, paying premium and receiving any return premiums.
XII.	NO ALTERATIONS WITHOUT ENDORSEMENT
	No change in or modification of this Policy shall be effective unless made by endorsement signed by an authorized employee of the Insurer or any of its agents relating to this Policy.

USSIC 994 (04/2002)

Page 4 of 4

THE HARTFORD

UNIVERSAL EXCESS^SMSIMPLIFIED

DECLARATIONS


Policy Number 08 FI 0252161 -22
	Producer Code, Name & Address
	80347
TWIN CITY FIRE INSURANCE CO. ONE COLLEGE PARK, INDIANAPOLIS, IN a stock insurance company, herein called the Underwriter	WILLIS TOWERS WATSON NORTHEAST 75 ARLINGTON STREET FLOOR 10 BOSTON, MA 02116

NOTICE: THIS IS A CLAIMS MADE POLICY. EXCEPT AS MAY BE OTHERWISE PROVIDED HEREIN, THE COVERAGE OF THIS POLICY IS LIMITED TO LIABILITY FOR ACTS COVERED BY UNDERLYING INSURANCE (ITEM D.) FOR WHICH

CLAIMS ARE FIRST MADE AGAINST THE INSURED(S) WHILE THE POLICY IS IN FORCE. ANY DEFENSE COSTS AND OTHER CLAIM EXPENSE COVERED UNDER THE POLICY IS PART OF AND NOT IN ADDITION TO THE LIMIT OF LIABILITY. PLEASE READ AND REVIEW THE POLICY CAREFULLY.

DECLARATIONS

ITEM A. Name of Insured and Address:
FIDELITY EQUITY AND HIGH INCOME FUNDS
C/0 FMR LLC
88 BLACK FALCON
FIRST FLOOR, EAST SIDE, SUITE 167,
BOSTON, MA 02210

ITEM B. Policy Period: From 12:01 a.m. on 7/01/22 To 12:01 a.m. on 7/01/23 (Standard Time at the address stated in Item A)

ITEM C. LIMIT OF LIABILITY: $ SEE FORM # US00H07501

Aggregate each Policy Period

ITEM D. SCHEDULE OF UNDERLYING INSURANCE:


(1	)	Primary Policy:
		Company:	SEE FORM # US00H07501
		Policy Number:
		Limit of Liability: $


(0	)	Underlying Excess Policy(ies): SEE FORM #

ITEM E. ADDRESS FOR CLAIMS-RELATED NOTICES:			ITEM F. ADDRESS FOR ALL OTHER NOTICES:
The Hartford - Financial Products Claims Dept.				The Hartford
via mail: 277 Park Ave., 15th Floor			via mail: 277 Park Ave., 15th Floor
		New York, New York 10172		New York, New York 10172
via		email: HFPCIaims@thehartford.com	via email: HFPExpress@thehartford.com
via fax:		917-464-6000	via fax:	866-586-4550


US 00 H002 00 0708	© 2008, The Hartford	Page 1 of 2

ITEM G. EXTENDED REPORTING PERIOD:

(1) Additional Premium:

(2) Additional Period:

ITEM H. PREMIUM:

$ 31,170


US 00 H002 00 0708	© 2008, The Hartford	Page 2 of 2


			GU 207
		ENDORSEMENT	(6-78	)

This endorsement, effective on	7/01/22		at 12:01 A.M. standard time, forms a part of
Policy No. 08 FI 0252161-22	of the	TWIN CITY FIRE INSURANCE CO.

Issued FIDELITY EQUITY AND HIGH INCOME FUNDS
to
			Douglas Elliot, President


SCHEDULE OF FORMS AND ENDORSEMENTS

	USOOH00300	07/08	THE HARTFORD UNIVERSAL EXCESS SIMPLIFIED POLICY
	RNOON02600		IN WITNESS PAGE
		05/93
1	US00H07501		EXCESS FIDELITY SCHEDULE OF UNDERLYING INSURANCE ENDORSEMENT
		09/09
2	USOOH04000		EXCESS QUOTA SHARE PARTICIPATION ENDORSEMENT
		07/08
3	HGOOH00901	07/08	AMEND MAILING ADDRESS FOR NOTICE ENDORSEMENT
4	US00H02600		EXCESS ABSOLUTE TIE-IN ENDORSEMENT
		07/08
5	US00H07200		EXCESS FIDELITY ENDORSEMENT
		07/08
6	US00H07300		EXCESS FIDELITY - AGGREGATE LIMIT OF INSURANCE
		07/08
	HGOOH12900	10/16	U.S. DEPARTMENT OF THE TREASURY, OFFICE OF FOREIGN
			ASSETS CONTROL ("OFAC")
	HROOH09300	02/07	PRODUCER COMPENSATION NOTICE

Rev. Ed. Date (04/02) GU 207 (6-78)

THE HARTFORD UNIVERSAL EXCESS^SMSIMPLIFIED POLICY

In consideration of the payment of the Premium and in reliance upon any application, materials or information made available by or on behalf of the Insured(s) to the Underwriters during the application or proposal process, the Underwriters and the Insured(s) agree as follows:

I. INSURING AGREEMENT - FOLLOW FORM COVERAGE

This policy shall provide coverage in excess of the total limits of liability and any retention/deductible of the Underlying Insurance. Coverage shall follow form to the same terms, conditions, and limitations as are contained in the Primary Policy or any Underlying Excess Policy(ies) as of the incepti on of this policy, except as otherwise provided herein. In no event shall this policy grant broader coverage than is provided by either the Primary Policy or any one of the Underlying Excess Policy(ies).

II.	UNDERLYING INSURANCE
A.	EXHAUSTION OR REDUCTION: It is expressly agreed that liability for any Loss shall attach to the Underwriters only after either: (i) the insurer(s) of the Primary Policy and Underlying Excess Policy(ies) shall have paid the full amount of their respective liability for such Loss; or (ii) the Insured(s) shall have paid, in the applicable legal currency, any portion of such Loss that, together with any payments by such insurer(s) above, equals the limits of liability of the Underlying Insurance. The Underwriters shall then be liable to pay additional amounts of Loss up to the Limit of Liability. In the event such payments described above exhaust the Underlying Insurance but not this policy, then this policy shall continue as primary insurance, subject to its terms, conditions and limitations, and shall apply a retention/deductible as set forth in the Primary Policy to any subsequent Claim. In the event such payments described above only reduce the Underlying Insurance, then this policy shall continue as excess of the reduced Underlying Insurance. In no way shall any payments by the Insured(s) constitute a waiver of any terms, conditions or limitations of the Underlying Insurance or of this policy.
B.	SUB-LIMITS: If the Primary Policy provides coverage that is subject to a sub-limit of liability, then this policy shall not apply to any Claim that is subject to such sub-limit. However, any such coverage shall be recognized solely for the purposes of reducing or exhausting the Underlying Insurance.
C.	MAINTENANCE: The Insured(s) agree that the Underlying Insurance shall be maintained in full effect while this policy is in force. If the Insured(s) fail to do so, the Underwriters shall only be liable to the extent it would have been liable had the Insured(s) maintained such insurance and the Insur ed(s) shall be self-insured for the amount of the Underlying Insurance which is not maintained.
III.	PARTICIPATION, COOPERATION, NOTICE AND CANCELLATION

The Underwriters may, at their sole option, elect to participate in the investigation, settlement or defense of any Claim even if the Underlying Insurance has not been exhausted. The Insured(s) shall give the Underwriters all information and cooperation as the Underwriters may reasonably require. All notices shall be given to the Underwriters at the applicable address set forth in either Item E. or Item F. of the Declarations and in accordance with all appropriate notice provisions of the Underlying Insurance. This policy may only be cancelled in accordance with the appropriate cancellation provisions of the Underlying Insurance.

IV. DEFINITIONS

1. Insured(s) shall mean those individuals and/or entities insured under the Underlying Insurance. 2. Primary Policy means the policy in Item D.(1) of the Declarations.

3. Underlying Excess Policy(ies) means the policy(ies) in Item D.(2) of the Declarations.

4. Underlying Insurance means all those policies in Item D. of the Declarations.

0.	Underwriters, Premium, Policy Period and Limit of Liability shall have the meanings set forth in the Declarations.
5.	All other capitalized terms shall have the meanings set forth in the Underlying Insurance.

V. EXTENDED REPORTING PERIOD

If the Insured(s) elect and are granted an extended reporting period under all of the Underlying Insurance, then the Insured(s), by meeting the following requirements, may also elect an extended reporting period under this policy. The requirements of this policy are: (i) satisfying the same conditions as set forth in the Underlying Insurance; and (ii) paying the additional premium set forth in Item G.(1) of the Declarations. Such extended reporting period shall be for the period of time set forth in Item G.(2) of the Declarations.


US 00 H003 00 0708		© 2008, The Hartford	Page 1 of 1
08 F1 0252161-22	7/01/22

THE HARTFORD

IN WITNESS WHEREOF, the Company has caused this policy to be executed and attested, and if required by state law, this policy shall not be valid unless countersigned by a duly authorized representative of the Company.

TWIN CITY FIRE INSURANCE COMPANY

HOME OFFICE - INDIANAPOLIS, INDIANA ADMINISTRATIVE OFFICES - HARTFORD, CONNECTICUT

(A STOCK INSURANCE COMPANY MEMBER OF THE HARTFORD)


RN 00 N026 00 0593
ILBP 83 01 05 89 RN
08 F1 0252261-22	7/01/22


			ENDORSEMENT NO: 1

This endorsement, effective 12:01 am,		07/01/22	forms part
of policy number 08 Fl 0252161-22
issued to:	FIDELITY EQUITY AND HIGH INCOME FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS FIDELITY SCHEDULE OF UNDERLYING INSURANCE ENDORSEMENT


This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESSsm SIMPLIFIED POLICY

It is agreed that the DECLARATIONS is amended as follows:

ITEM C. LIMIT OF LIABILITY is deleted and replaced with the following:

ITEM C. LIMIT OF INSURANCE:

Coverage	Description		Limit of Insurance
Insuring Agreement A	Fidelity		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement B	On Premises		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement C	In Transit		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement D	Forgery or Alteration		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement E	Securities		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement F	Counterfeit Currency		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement G	Uncollectible Items of Deposit		NOT COVERED
Insuring Agreement H	Audit Expenses		NOT COVERED
Insuring Agreement I	Computer Systems		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement J	Customer Voice Initiated Transfers		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
	Stop Payment		NOT COVERED
	Unauthorized Signatures		NOT COVERED
	Claims Expense		NOT COVERED
	Facsimile Signature		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
	Automated Phone Systems		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000


US 00 H075 01 0909	© 2009, The Hartford	Page 1 of 7


Destruction of Data or Programs by		$10,000,000 p/o $50,000,000 excess of
Hackers	$	100,000,000
Destruction of Data or Programs by		$10,000,000 p/o $50,000,000 excess of
Virus	$	100,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.

The Company's Limit of Insurance for each coverage for which an amount is inserted above shall be in excess of all Underlying Insurance shown in the Schedule of Underlying Insurance below plus any Deductible Amount shown as applicable to the Primary Coverage.

ITEM D. SCHEDULE OF UNDERLYING INSURANCE is deleted and replaced with the following: ITEM D.

SCHEDULE OF UNDERLYING INSURANCE


Primary Coverage	Carrier: Berkshire Hathaway Specialty Insurance Company
Policy No.: 47-EPF-315882-02

Coverage	Description		Limit of Insurance	Deductible
Insuring Agreement A	Fidelity	$	15,000,000	$400,000 Each Loss
Insuring Agreement B	On Premises	$	15,000,000	$400,000 Each Loss
Insuring Agreement C	In Transit	$	15,000,000	$400,000 Each Loss
Insuring Agreement D	Forgery or Alteration	$	15,000,000	$400,000 Each Loss
Insuring Agreement E	Securities	$	15,000,000	$400,000 Each Loss
Insuring Agreement F	Counterfeit Currency	$	15,000,000	$400,000 Each Loss
Insuring Agreement G	Uncollectible Items of Deposit	$	5,000,000	$2,500 Each Loss
Insuring Agreement H	Audit Expense	$	100,000	$2,500 Each Loss
Insuring Agreement I	Computer Systems	$	10,000,000	$400,000 Each Loss
Insuring Agreement J	Customer Voice Initiated Transfer	$	10,000,000	$400,000 Each Loss
Insuring Agreement K	Telefacsimile Transfer Fraud	$	10,000,000	$400,000 Each Loss
	Stop Payment	$	100,000	$2,500 Each Loss
	Unauthorized Signatures	$	3,000,000	$25,000 Each Loss
	Claim Expense	$	100,000	$2,500 Each Loss
	Facsimile Signature	$	15,000,000	$400,000 Each Loss
	Automated Phone System	$	15,000,000	$400,000 Each Loss
	Destruction of Data or	$	15,000,000	$400,000 Each Loss
	Programs by Hacker
	Destruction of Data or	$	15,000,000	$400,000 Each Claim
	Programs by Virus

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $15,000,000.


Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $15,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $15,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $15,000,000


US 00 H075 01 0909	© 2009, The Hartford	Page 2 of 7


Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $15,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $15,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $15,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expenses	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $15,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $15,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $15,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $15,000,000
	Automated Phone Systems	$10,000,000 excess of $15,000,000
	Destruction of Data or Programs by	$10,000,000 excess of $15,000,000
	Hackers
	Destruction of Data or Programs by Virus	$10,000,000 excess of $15,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


Excess Layer	Carrier: National Union Fire Insurance Company
	Policy No.: 01-317-28-50

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $25,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $25,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $25,000,000
Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $25,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $25,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $25,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expenses	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $25,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $25,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $25,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $25,000,000
	Automated Phone Systems	$10,000,000 excess of $25,000,000
	Destruction of Data or Programs by	$10,000,000 excess of $25,000,000
	Hackers
	Destruction of Data or Programs by Virus	$10,000,000 excess of $25,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


Excess Layer		Carrier: ICI Mutual Insurance Company
		Policy No.: 87153322B

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$15,000,000 excess of $35,000,000
Insuring Agreement B	On Premises	$15,000,000 excess of $35,000,000
Insuring Agreement C	In Transit	$15,000,000 excess of $35,000,000


US 00 H075 01 0909	© 2009, The Hartford	Page 3 of 7


Insuring Agreement D	Forgery or Alteration	$15,000,000 excess of $35,000,000
Insuring Agreement E	Securities	$15,000,000 excess of $35,000,000
Insuring Agreement F	Counterfeit Currency	$15,000,000 excess of $35,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expenses	NOT COVERED
Insuring Agreement I	Computer Systems	$15,000,000 excess of $35,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$15,000,000 excess of $35,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$15,000,000 excess of $35,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$15,000,000 excess of $35,000,000
	Automated Phone Systems	$15,000,000 excess of $35,000,000
	Destruction of Data or Programs by	$15,000,000 excess of $35,000,000
	Hackers
	Destruction of Data or Programs by Virus	$15,000,000 excess of $35,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $15,000,000.


Excess Layer	Carrier: Allied World Assurance Company, Ltd.
	Policy No.: C014840/012

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$15,000,000 excess of $50,000,000
Insuring Agreement B	On Premises	$15,000,000 excess of $50,000,000
Insuring Agreement C	In Transit	$15,000,000 excess of $50,000,000
Insuring Agreement D	Forgery or Alteration	$15,000,000 excess of $50,000,000
Insuring Agreement E	Securities	$15,000,000 excess of $50,000,000
Insuring Agreement F	Counterfeit Currency	$15,000,000 excess of $50,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expenses	NOT COVERED
Insuring Agreement I	Computer Systems	$15,000,000 excess of $50,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$15,000,000 excess of $50,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$15,000,000 excess of $50,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$15,000,000 excess of $50,000,000
	Automated Phone Systems	$15,000,000 excess of $50,000,000
	Destruction of Data or Programs by	$15,000,000 excess of $50,000,000
	Hackers
	Destruction of Data or Programs by Virus	$15,000,000 excess of $50,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $15,000,000.


Excess Layer		Carrier: Travelers Casualty and Surety Company of America
		Policy No.: 106547262

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $65,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $65,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $65,000,000


US 00 H075 01 0909	© 2009, The Hartford	Page 4 of 7


Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $65,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $65,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $65,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expenses	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $65,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $65,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $65,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $65,000,000
	Automated Phone Systems	$10,000,000 excess of $65,000,000
	Destruction of Data or Programs by	$10,000,000 excess of $65,000,000
	Hackers
	Destruction of Data or Programs by Virus	$10,000,000 excess of $65,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


Excess Layer	Carrier: Continental Casualty Company
	Policy No.: 287042220

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $75,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $75,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $75,000,000
Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $75,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $75,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $75,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expenses	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $75,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $75,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $75,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $75,000,000
	Automated Phone Systems	$10,000,000 excess of $75,000,000
	Destruction of Data or Programs by	$10,000,000 excess of $75,000,000
	Hackers
	Destruction of Data or Programs by Virus	$10,000,000 excess of $75,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


Excess Layer	Carrier: Starr Indemnity & Liability Company (Quota Share)
	Policy No.: 1000059071221

Coverage	Description		Limit of Insurance
Insuring Agreement A	Fidelity		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
			$10,000,000 p/o $15,000,000 excess of
Insuring Agreement B	On Premises	$	85,000000


US 00 H075 01 0909	© 2009, The Hartford	Page 5 of 7


Insuring Agreement C	In Transit	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
Insuring Agreement D	Forgery or Alteration	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
Insuring Agreement E	Securities	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expenses	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
	Automated Phone Systems	$10,000,000 p/o $15,000,000 excess
		of $85,000,000
	Destruction of Data or Programs	$10,000,000 p/o $15,000,000 excess
	by Hackers	of $85,000,000
	Destruction of Data or Programs by Virus	$10,000,000 p/o $15,000,000 excess
		of $85,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


Excess Layer	Carrier: Axis Insurance Company (Quota Share)
	Policy No.: P-001-000158021-03

Coverage	Description		Limit of Insurance
Insuring Agreement A	Fidelity		$5,000,000 p/o $15,000,000 excess
		of $	85,000,000
Insuring Agreement B	On Premises		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement C	In Transit		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement D	Forgery or Alteration		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement E	Securities		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement F	Counterfeit Currency		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement G	Uncollectible Items of Deposit		NOT COVERED
Insuring Agreement H	Audit Expenses		NOT COVERED
Insuring Agreement I	Computer Systems		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement J	Customer Voice Initiated Transfers		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
			$5,000,000 p/o $15,000,000 excess of
Insuring Agreement K	Telefacsimile Transfer Fraud	$	85,000,000


US 00 H075 01 0909	© 2009, The Hartford	Page 6 of 7


Stop Payment		NOT COVERED
Unauthorized Signatures		NOT COVERED
Claims Expense		NOT COVERED
Facsimile Signature		$5,000,000 p/o $15,000,000 excess of
	$	85,000,000
Automated Phone Systems		$5,000,000 p/o $15,000,000 excess of
	$	85,000,000
Destruction of Data or Programs by		$5,000,000 p/o $15,000,000 excess of
Hackers	$	85,000,000
Destruction of Data or Programs by		$5,000,000 p/o $15,000,000 excess of
Virus	$	85,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $5,000,000.

ITEM F. TERMINATION OF PRIOR POLICY(IES):

The Insured by the acceptance of the Policy gives notice to the Company terminating or canceling prior bond(s) or policy(ies) No.(s) 08 Fl 0252161-22 such termination or cancellation to be effective as of the time this Policy becomes effective.

ITEM G. EXTENDED REPORTING PERIOD is deleted in its entirety.

All other terms and conditions remain unchanged.

Douglas Elliot, President


US 00 H075 01 0909	© 2009, The Hartford	Page 7 of 7

GU 207
(6 - 78)

ENDORSEMENT: 2


This endorsement, effective 12:01 am,		7/01/22	forms part
of policy number	08 Fl 0252161-22
issued to:	FIDELITY EQUITY AND HIGH INCOME FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS QUOTA SHARE PARTICIPATION ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESSsm SIMPLIFIED POLICY

1.	This policy is part of a quota share participation arrangement between the Participating Insurance Company(ies) and the Insured (the "Program") which provides a $50,000,000 Limit of Liability excess of the Underlying Insurance and consists of the following:


Participating	Participating			Participating	Participating
	Insurance			Insurer's Limit of	Insurer's
Insurer	Policy No.			Liability	Percentage

Twin City Fire Insurance Co.	08 Fl 0252161-22		$	10,000,000	20	%
XL Specialty Insurance Company	ELU183617-22		$	5,000,000	10	%
Antares AUL 1274 and Volante	B080113016	P22	$	5,000,000	10	%
U.S. Specialty Insurance Company	24-MGU-22-A54574		$	8,000,000	16	%
Ironshore Indemnity, Inc.	FI4NAB095D003		$	5,000,000	10	%
National Casualty Company	XJO2208785		$	10,000,000	20	%
Everest Reinsurance Company	FL5FD00012-221		$	7,000,000	14	%

2.	Each Participating Insurance Company shall be liable only for its own percentage of each covered Loss,
	subject	to its own limit of liability.
3.	Each Participating Insurance Company shall:
	A.	receive notice of any Claim submitted for coverage under the Program;
	B.	make its own determination of whether Loss is covered under the Program; and
	C.	elect whether to participate in the investigation, settlement or defense of any Claim.
4.	The liability of each Participating Insurance Company shall be several and not joint. The failure,
	refusal	or inability of any Participating Insurance Company to pay covered Loss, including, without


US 00 H040 00 0708	© 2008, The Hanford	Page 1 of 2

2021 by The Hartford. Classification: Non-Confidential. No part of this document may be reproduced, published or used without the permission of The Hartford.

GU 207
(6 - 78)

ENDORSEMENT: 2

limitation, an inability based upon insolvency, shall not increase or otherwise affect the liability of any other Participating Insurance Company.

All other terms and conditions remain unchanged.


US 00 H040 00 0708	© 2008, The Hanford	Page 2 of 2

2021 by The Hartford. Classification: Non-Confidential. No part of this document may be reproduced, published or used without the permission of The Hartford.


			ENDORSEMENT NO:	3
This endorsement, effective 12:01 am,		7/01/22	forms part
of policy number	08 F1 0252161-22
issued to:	FIDELITY EQUITY AND HIGH INCOME FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

AMEND MAILING ADDRESS FOR NOTICE ENDORSEMENT

I.	Notice of Claim or Wrongful Act
	A. A notice of any Claim or Wrongful Act shall be given in writing to the following:


Via mail:	The Hartford Claims Department Hartford Financial Products 277 Park Avenue, 16^thFloor New York, New York 10172 or
Via email:	HFPCIaims@thehartford.com or
Via Facsimile:	(917) 464-6000

Where it is stated in the policy or declarations page that a notice of any Claim or Wrongful Act shall be given in writing to The Hartford, Hartford Plaza, Hartford CT 06115, it shall be deleted and replaced with the following: Notice of any Claim or Wrongful Act shall be given in writing to the following:


Via mail:	The Hartford Claims Department Hartford Financial Products 277 Park Avenue, 16^thFloor New York, New York 10172 OR
Via email:	HFPClaims@thehartford.com or

Via Facsimile: (917) 464-6000

ll.	All Other Notices
	A. All notices other than a notice of Claim or Wrongful Act shall be given in writing to the following:


HG 00 H009 01 0708	© 2008, The Hartford	Page 1 of 2

ENDORSEMENT NO: 3

The Hartford Product Services

Hartford Financial Products

277 Park Avenue, 16^thFloor

New York, New York 10172

B.	With the exception of notice of a Claim or Wrongful Act, where it is stated in the policy or declarations page that a notice shall be given in writing to The Hartford, Hartford Plaza, Hartford CT 06115 shall be deleted and replaced with the following:

All notices other than a notice of Claim or Wrongful Act shall be given in writing to the following:

The Hartford

Product Services

Hartford Financial Products

277 Park Avenue, 16^thFloor

New York, New York 10172

All other terms and conditions remain unchanged.


HG 00 H009 01 0708	© 2008, The Hartford	Page 2 of 2


		ENDORSEMENT NO: 4
This endorsement, effective 12:01 am, 7/01/22		forms part
of policy number 08 FI 0252161-22
issued to:	FIDELITY EQUITY AND HIGH INCOME FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS ABSOLUTE TIE-IN ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS^smSIMPLIFIED POLICY

Notwithstanding the amount specified in Item C. Limit of Liability of the Declarations, it is agreed that the maximum combined Limit of Liability for this policy 08 FI 0252161-22 and policy No. 08 DA 0252127-22 shall be $ 10,000,000

All other terms and conditions remain unchanged.


US 00 H026 00 0708	© 2008, The Hartford	Page 1 of 1


			ENDORSEMENT NO: 5
This endorsement, effective 12:01 am,		7/01/22	forms part
of policy number	08 FI 0252161-22
issued to:	FIDELITY EQUITY AND HIGH INCOME FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS FIDELITY ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS^smSIMPLIFIED POLICY

I.	The Policy Declarations is amended as follows:
	The NOTICE is deleted.
	ITEM E. ADDRESS FOR CLAIMS RELATED NOTICES is deleted and replaced with the following. Hartford Financial Products Bond Claims Division, T-4, 690 Asylum Avenue, Hartford, CT 06115 [Fax # (860) 757-5835 or (860) 5478265],
	ITEM G. EXTENDED REPORTING PERIOD is deleted.
II.	Section II. UNDERLYING INSURANCE is amended by adding the following:
	Excess coverage shall only apply to those Insuring Clauses noted on the Declarations.
	All references to Limits Of Liability are deleted and replaced with Limits of Insurance.
III.	Section V. EXTENDED REPORTING PERIOD is deleted.
IV.	The Policy is amended by adding the following:
	In the event any Claim is made against any Insured, written notice shall be given to the Underwriters in the same manner as given to the Primary Policy at: Hartford Financial Products Bond Claims Division, T -4, 690 Asylum Avenue, Hartford, CT 06115 [Fax # (860) 757-5835 or (860) 547-8265], and otherwise pursuant to all appropriate notice provisions contained in the Underlying Insurance.

All other terms and conditions remain unchanged.


		David Zwiener, President
US 00 H072 00 0708	© 2008, The Hartford	Page 1 of 1


			ENDORSEMENT NO: 6
This endorsement, effective 12:01 am,		7/01/22	forms part
of policy number	08 FI 0252161-22
issued to:	FIDELITY EQUITY AND HIGH INCOME FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS FIDELITY - AGGREGATE LIMIT OF INSURANCE (WHEN UNDERLYING INSURANCE IS PER LOSS LIMIT OF INSURANCE) ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS^smSIMPLIFIED POLICY

II. Section II. UNDERLYING INSURANCE is amended by adding the following:

This policy is subject to an aggregate limit of insurance regardless of whether the Primary Policy or any Underlying Excess Policy(ies) is subject to a per loss limit of insurance.

All other terms and conditions remain unchanged.

Neal S. Wolin, President & COO


US 00 H073 00 0708	© 2008, The Hartford	Page 1 of 1

THE HARTFORD

TWIN CITY FIRE INSURANCE CO.

U.S. DEPARTMENT OF THE TREASURY, OFFICE OF FOREIGN ASSETS

CONTROL ("OFAC") ADVISORY NOTICE TO POLICYHOLDERS

This Notice provides information concerning possible impact on your insurance coverage due to directives issued by the United States. Please read this Notice carefully.

The Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury ad ministers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the prolife ration of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under U.S. jurisdiction. OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country -specific. Collectively, such individuals and companies are called "Specially Designated Nationals and Blocked Persons" or "SDNs". Their assets are blocked and U.S. persons are generally prohibited from dealing with them. This list can be located on OFAC's web site at — http//www.treas.gov/ofac.

In accordance with OFAC regulations, if it is determined that you or any other insured, or any person or entity claiming the benefits of this insurance has violated U.S. sanctions law or is an SDN, as identified by OFAC, the policy is a blocked contract and all dealings with it must involve OFAC. When an insurance policy is considered to be suck a blocked or frozen contract, no payments nor premium refunds may be made without authorization from OFAC.


HG 00 H129 00 1016	© 2016, The Hartford	Page 1 of 1
08 FI 0252161-22	7/01/22


	THE
Producer Compensation Notice	HARTFORD

You can review and obtain information on The Hartford’s producer compensation practices at www.thehartford.com or at 1-800-592-5717


HR 00 H093 00 0207	© 2007, The Hartford	Page 1 of 1

08 FI 0252161-22 7/01/22


	THE HARTFORD
UNIVERSAL EXCESS^SMSIMPLIFIED		HARTFORD
	DECLARATIONS

Policy Number 08 FI 0252157 - 22
	Producer Code, Name & Address
	8 0 3 4 7
TWIN CITY FIRE INSURANCE CO.	WILLIS TOWERS WATSON NORTHEAST
ONE COLLEGE PARK, INDIANAPOLIS, IN	7 5 A R L I N G T O N S T R E E T	F L O O R 10
a stock insurance company, herein called	BOSTON, MA 02116
the Underwriter

NOTICE: THIS IS A CLAIMS MADE POLICY. EXCEPT AS MAY BE OTHERWISE PROVIDED HEREIN, THE COVERAGE

OF THIS POLICY IS LIMITED TO LIABILITY FOR ACTS COVERED BY UNDERLYING INSURANCE (ITEM D.) FOR WHICH CLAIMS ARE FIRST MADE AGAINST THE INSURED(S) WHILE THE POLICY IS IN FORCE. ANY

DEFENSE COSTS AND OTHER CLAIM EXPENSE COVERED UNDER THE POLICY IS PART OF AND NOT IN

ADDITION TO THE LIMIT OF LIABILITY. PLEASE READ AND REVIEW THE POLICY CAREFULLY.


DECLARATIONS
ITEM A. Name of Insured and Address:
FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
C/O FMR LLC 88 BLACK FALCON
FIRST FLOOR, EAST SIDE
SUITE 167, MAILZONE V7E
BOSTON, MA 02210

ITEM B. Policy Period: From 12:01 a.m. on 7/01/22 (Standard					To 12:01 a.m. on		7/01/23
Time at the address stated in Item A)

ITEM C. LIMIT OF LIABILITY: $ SEE FORM # US00H07501						Aggregate each Policy Period

ITEM D. SCHEDULE OF UNDERLYING INSURANCE:

(1	)	Primary Policy:


		Company:		SEE FORM # US00H07501

		Policy Number:

		Limit of Liability: $

(2	)	Underlying Excess Policy(ies): SEE FORM #

ITEM E. ADDRESS FOR CLAIMS-RELATED NOTICES:
		The Hartford - Financial Products Claims Dept. _US00H07501
via mail: 277 Park Ave., 15th Floor
		New York, New York 10172			ITEM F. ADDRESS FOR ALL OTHER NOTICES:
via email: HFPCIaims@thehartford.com						The Hartford
via fax:		917-464-6000			via mail: 277 Park Ave., 15th Floor
						New York, New York 10172
ITEM G. EXTENDED REPORTING PERIOD:					via email: HFPExpress@thehartford.com
(1) Additional Premium:					via fax:	866-586-4550

(2) Additional Period:
ITEM H. PREMIUM:			$	31,170 . 00


US 00 H002 00 0708	© 2008, The Hartford	Page 1 of 2

01/09/23


Authorized Representative		Date
	08 FI 0252157 7/01/22


US 00 H002 00 0708	© 2008, The Hartford	Page 2 of 2


			GU 207
		ENDORSEMENT	(6-78	)
This endorsement, effective on	7/01/22		at 12:01 A.M. standard time, forms a part of
Policy No. 08 FI 0252157-22	of the	TWIN CITY FIRE INSURANCE CO.
Issued to FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
			Douglas Elliot, President

USOOH00300

RNOON02600

07/08

05/93

SCHEDULE OF FORMS AND ENDORSEMENTS

THE HARTFORD UNIVERSAL EXCESS SIMPLIFIED POLICY

IN WITNESS PAGE

1	HGOOH00901 07/08 AMEND MAILING ADDRESS FOR NOTICE ENDORSEMENT
2	US00H02600 07/08 EXCESS ABSOLUTE TIE-IN ENDORSEMENT
3	US00H07200 07/08 EXCESS FIDELITY ENDORSEMENT
4	US00H07300 07/08 EXCESS FIDELITY - AGGREGATE LIMIT OF INSURANCE

HGOOH12900

HROOH09300

10/16

02/07

U.S. DEPARTMENT OF THE TREASURY, OFFICE OF FOREIGN ASSETS CONTROL ("OFAC")

PRODUCER COMPENSATION NOTICE

5	US00H07501 01/09 EXCESS FIDELITY SCHEDULE OF UNDERLYING INSURANCE ENDORSEMENT
6	US00H04000 01/08 EXCESS QUOTA SHARE PARTICIPATION ENDORSEMENT

Rev. Ed. Date (04/02) GU 207 (6-78)

THE HARTFORD UNIVERSAL EXCESS^SMSIMPLIFIED POLICY

I. INSURING AGREEMENT - FOLLOW FORM COVERAGE

This policy shall provide coverage in excess of the total limits of liability and any retention/deductible of the Underlying Insurance. Coverage shall follow form to the same terms, conditions, and limitations as are contained in the Primary Policy or any Underlying Excess Policy(ies) as of the inception of this policy, except as otherwise provided herein. In no event shall this policy grant broader coverage than is provided by either the Pri mary Policy or any one of the Underlying Excess Policy(ies).

II.	UNDERLYING INSURANCE
A.	EXHAUSTION OR REDUCTION: It is expressly agreed that liability for any Loss shall attach to the Underwriters only after either: (i) the insurer(s) of the Primary Policy and Underlying Excess Policy(ies) shall have paid the full amount of their respective liability for such Loss; or (ii) the Insured(s) shall have paid, in the applicable legal currency, any portion of such Loss that, together with any payments by suc h insurer(s) above, equals the limits of liability of the Underlying Insurance. The Underwriters shall then be liable to pay additional amounts of Loss up to the Limit of Liability. In the event such payments described above exhaust the Underlying Insuranc e but not this policy, then this policy shall continue as primary insurance, subject to its terms, conditions and limitations, and shall apply a retention/deductible as set forth in the Primary Policy to any subsequent Claim. In the event such payments described above only reduce the Underlying Insurance, then this policy shall continue as excess of the reduced Underlying Insurance. In no way shall any payments by the Insured(s) constitute a waiver of any terms, conditions or limitations of the Underlying Insurance or of this policy.
B.	SUB-LIMITS: If the Primary Policy provides coverage that is subject to a sub-limit of liability, then this policy shall not apply to any Claim that is subject to such sub-limit. However, any such coverage shall be recognized solely for the purposes of reducing or exhausting the Underlying Insurance.
C.	MAINTENANCE: The Insured(s) agree that the Underlying Insurance shall be maintained in full effect while this policy is in force. If the Insured(s) fail to do so, the Underwriters sha ll only be liable to the extent it would have been liable had the Insured(s) maintained such insurance and the Insured(s) shall be self -insured for the amount of the Underlying Insurance which is not maintained.
III.	PARTICIPATION, COOPERATION, NOTICE AND CANCELLATION

The Underwriters may, at their sole option, elect to participate in the investigation, settlement or defense of any Claim even if the Underlying Insurance has not been exhausted. The Insured(s) shall give the Underwriters all inform ation and cooperation as the Underwriters may reasonably require. All notices shall be given to the Underwriters at the applicable address set forth in either Item E. or Item F. of the Declarations and in accordance with all appropriate notice provisions o f the Underlying Insurance. This policy may only be cancelled in accordance with the appropriate cancellation provisions of the Underlying Insurance.

IV . DEFINITIONS

1. Insured(s) shall mean those individuals and/or entities insured under the Underlying Insurance. 2. Primary Policy means the policy in Item D.(1) of the Declarations.

3. Underlying Excess Policy(ies) means the policy(ies) in Item D.(2) of the Declarations.

4. Underlying Insurance means all those policies in Item D. of the Declarations.

0.	Underwriters, Premium, Policy Period and Limit of Liability shall have the meanings set forth in the Declarations.
5.	All other capitalized terms shall have the meanings set forth in the Underlying Insurance.
V.	EXTENDED REPORTING PERIOD


US 00 H003 00 0708		© 2008, The Hartford	Page 1 of 1
08 FI 0252157-22	7/01/22

THE HARTFORD

TWIN CITY FIRE INSURANCE COMPANY

HOME OFFICE - INDIANAPOLIS, INDIANA ADMINISTRATIVE OFFICES - HARTFORD, CONNECTICUT

(A STOCK INSURANCE COMPANY MEMBER OF THE HARTFORD)

Kevin Barnett, Secretary

Douglas Elliot, President

RN 00 N026 00 0593 08 FI 0252157-22


			ENDORSEMENT NO:	1
This endorsement, effective 12:01 am,		7/01/22	forms part
of policy number	08 FI 0252157 -22
issued to:	FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

AMEND MAILING ADDRESS FOR NOTICE ENDORSEMENT

I.	Notice of Claim or Wrongful Act
	A. A notice of any Claim or Wrongful Act shall be given in writing to the following:


Via mail:	The Hartford Claims Department Hartford Financial Products 277 Park Avenue, 16^thFloor New York, New York 10172 or
Via email:	HFPCIaims@thehartford.com or
Via Facsimile:	(917) 464-6000

Via mail:

The Hartford

Claims Department

Hartford Financial Products

277 Park Avenue, 16^thFloor

New York, New York 10172


Via email:		HFPClaims@thehartford.com
		or
Via Facsimile:	(917)	464-6000

ll.	All Other Notices
	A. All notices other than a notice of Claim or Wrongful Act shall be given in writing to the following:


HG 00 H009 01 0708	© 2008, The Hartford	Page 1 of 2

ENDORSEMENT NO: 1

The Hartford

Product Services

Hartford Financial Products

277 Park Avenue, 16^thFloor

New York, New York 10172

B.	With the exception of notice of a Claim or Wrongful Act, where it is stated in the policy or declarations page that a notice shall be given in writing to The Hartford, Hartford Plaza, Hartford CT 06115 shall be deleted and replaced with the following:
	All notices other than a notice of Claim or Wrongful Act shall be given in writing to the following:

The Hartford

Product Services

Hartford Financial Products

277 Park Avenue, 16^thFloor

New York, New York 10172

All other terms and conditions remain unchanged.


HG 00 H009 01 0708	© 2008, The Hartford	Page 2 of 2


			ENDORSEMENT NO:	2
This endorsement, effective 12:01 am,		7/01/22	forms part
of policy number	08 F1 0252157 -22
issued to:	FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS ABSOLUTE TIE-IN ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS^smSIMPLIFIED POLICY

Notwithstanding the amount specified in Item C. Limit of Liability of the Declarations, it is agreed that the maximum combined Limit of Liability for this policy 08 FI 0252157-22 and policy No. 08 DA 0252123 22 shall be $ 10,000,000

All other terms and conditions remain unchanged.

David Zwiener, President


00 H026 00 0708	© 2008, The Hartford	Page 1 of 1


			ENDORSEMENT NO:	3
This endorsement, effective 12:01 am,		7/01/22	forms part
of policy number	08 F1 0252157 -22
issued to:	FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS FIDELITY ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS^smSIMPLIFIED POLICY

I.	The Policy Declarations is amended as follows:
	The NOTICE is deleted.
	ITEM E. ADDRESS FOR CLAIMS RELATED NOTICES is deleted and replaced with the following. Hartford Financial Products Bond Claims Division, T-4, 690 Asylum Avenue, Hartford, CT 06115 [Fax # (860) 757-5835 or (860) 547- 8265],
	ITEM G. EXTENDED REPORTING PERIOD is deleted.
II.	Section II. UNDERLYING INSURANCE is amended by adding the following:
	Excess coverage shall only apply to those Insuring Clauses noted on the Declarations.
	All references to Limits Of Liability are deleted and replaced with Limits of Insurance.
III.	Section V. EXTENDED REPORTING PERIOD is deleted.
IV.	The Policy is amended by adding the following:
	In the event any Claim is made against any Insured, written notice shall be given to the Underwriters in the same manner as given to the Primary Policy at: Hartford Financial Products Bond Claims Division, T -4, 690 Asylum Avenue, Hartford, CT 06115 [Fax # (860) 757-5835 or (860) 547-8265], and otherwise pursuant to all appropriate notice provisions contained in the Underlying Insurance.

All other terms and conditions remain unchanged.


US 00 H072 00 0708	© 2008, The Hartford	Page 1 of 1


		ENDORSEMENT NO:	4
This endorsement, effective 12:01 am, 7/01/22		forms part
of policy number	08 F1 0252157-22
issued to:	FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS FIDELITY - AGGREGATE LIMIT OF INSURANCE (WHEN UNDERLYING INSURANCE IS PER LOSS LIMIT OF INSURANCE) ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS^smSIMPLIFIED POLICY

II. Section II. UNDERLYING INSURANCE is amended by adding the following:

This policy is subject to an aggregate limit of insurance regardless of whether the Primary Policy or any Underlying Excess Policy(ies) is subject to a per loss limit of insurance.

All other terms and conditions remain unchanged.

Neal S. Wolin, President & COO


US 00 H073 00 0708	© 2008, The Hartford	Page 1 of 1


		ENDORSEMENT NO: 5

This endorsement, effective 12:01 am, 07/01/22		forms part
of policy number	08 Fl 0252157-22
issued to:	FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS FIDELITY SCHEDULE OF UNDERLYING INSURANCE ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS SIMPLIFIED POLICY

It is agreed that the DECLARATIONS is amended as follows:

ITEM C. LIMIT OF LIABILITY is deleted and replaced with the following:

ITEM C. LIMIT OF INSURANCE:


Coverage	Description		Limit of Insurance
Insuring Agreement A	Fidelity		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement B	On Premises		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement C	In Transit		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement D	Forgery or Alteration		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement E	Securities		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement F	Counterfeit Currency		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement G	Uncollectible Items of Deposit		NOT COVERED
Insuring Agreement H	Audit Expense		NOT COVERED
Insuring Agreement I	Computer Systems		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement J	Customer Voice Initiated Transfers		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
	Stop Payment		NOT COVERED
	Unauthorized Signatures		NOT COVERED
	Claims Expense		NOT COVERED
	Facsimile Signature		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000
	Automated Phone Systems		$10,000,000 p/o $50,000,000 excess of
		$	100,000,000


US 00 H075 01 0909	© 2009, The Hartford	Page 1 of 7


Destruction of Data or Programs by		$10,000,000 p/o $50,000,000 excess of
Hacker	$	100,000,000
Destruction of Data or Programs by		$10,000,000 p/o $50,000,000 excess of
Virus	$	100,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.

ITEM D. SCHEDULE OF UNDERLYING INSURANCE is deleted and replaced with the following:

ITEM D. SCHEDULE OF UNDERLYING INSURANCE


Primary Coverage	Carrier: Berkshire Hathaway Specialty Ins. Co.
Policy No.: 47-EPF-315882-02

Coverage	Description		Limit of Insurance	Deductible
Insuring Agreement A	Fidelity	$	15,000,000	$400,000 Each Loss
Insuring Agreement B	On Premises	$	15,000,000	$400,000 Each Loss
Insuring Agreement C	In Transit	$	15,000,000	$400,000 Each Loss
Insuring Agreement D	Forgery or Alteration	$	15,000,000	$400,000 Each Loss
Insuring Agreement E	Securities	$	15,000,000	$400,000 Each Loss
Insuring Agreement F	Counterfeit Currency	$	15,000,000	$400,000 Each Loss
Insuring Agreement G	Uncollectible Items of Deposit	$	5,000,000	$2,500 Each Loss
Insuring Agreement H	Audit Expense	$	100,000	$2,500 Each Loss
Insuring Agreement I	Computer Systems	$	15,000,000	$400,000 Each Loss
Insuring Agreement J	Customer Voice Initiated Transfer	$	15,000,000	$400,000 Each Loss
Insuring Agreement K	Telefacsimile Transfer Fraud	$	15,000,000	$400,000 Each Loss
	Stop Payment	$	100,000	$2,500 Each Loss
	Unauthorized Signatures	$	3,000,000	$25,000 Each Loss
	Claim Expense	$	100,000	$25,000 Each Loss
	Facsimile Signature	$	15,000,000	$400,000 Each Loss
	Automated Phone System	$	15,000,000	$400,000 Each Loss
	Destruction of Data or	$	15,000,000	$400,000 Each Loss
	Programs by Hacker
	Destruction of Data or	$	15,000,000	$400,000 Each Loss
	Programs by Virus

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $15,000,000.

Other Underlying Coverage

None

X See Schedule Below


US 00 H075 01 0909	© 2009, The Hartford	Page 2 of 7


Excess Layer	Carrier: ACE American Insurance Company (Chubb)
	Policy No.: 82484869

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $15,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $15,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $15,000,000
Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $15,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $15,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $15,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expense	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $15,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $15,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $15,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $15,000,000
	Automated Phone Systems	$10,000,000 excess of $15,000,000
	Destruction of Data or Programs by Hacker	$10,000,000 excess of $15,000,000
	Destruction of Data or Programs by Virus	$10,000,000 excess of $15,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


Excess Layer	Carrier: National Union Fire Ins Co of Pittsburgh, PA
	Policy No.: 01-317-28-50

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $25,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $25,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $25,000,000
Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $25,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $25,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $25,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expense	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $25,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $25,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $25,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $25,000,000
	Automated Phone Systems	$10,000,000 excess of $25,000,000
	Destruction of Data or Programs by Hacker	$10,000,000 excess of $25,000,000
	Destruction of Data or Programs by Virus	$10,000,000 excess of $25,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


US 00 H075 01 0909	© 2009, The Hartford	Page 3 of 7


Excess Layer	Carrier: ICI Mutual Insurance Company
	Policy No.: 87153322B

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$15,000,000 excess of $35,000,000
Insuring Agreement B	On Premises	$15,000,000 excess of $35,000,000
Insuring Agreement C	In Transit	$15,000,000 excess of $35,000,000
Insuring Agreement D	Forgery or Alteration	$15,000,000 excess of $35,000,000
Insuring Agreement E	Securities	$15,000,000 excess of $35,000,000
Insuring Agreement F	Counterfeit Currency	$15,000,000 excess of $35,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expense	NOT COVERED
Insuring Agreement I	Computer Systems	$15,000,000 excess of $35,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$15,000,000 excess of $35,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$15,000,000 excess of $35,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$15,000,000 excess of $35,000,000
	Automated Phone Systems	$15,000,000 excess of $35,000,000
	Destruction of Data or Programs by Hacker	$15,000,000 excess of $35,000,000
	Destruction of Data or Programs by Virus	$15,000,000 excess of $35,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $15,000,000.


Excess Layer	Carrier: Allied World Assurance Company, Ltd.
	Policy No.: C014840/012

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$15,000,000 excess of $50,000,000
Insuring Agreement B	On Premises	$15,000,000 excess of $50,000,000
Insuring Agreement C	In Transit	$15,000,000 excess of $50,000,000
Insuring Agreement D	Forgery or Alteration	$15,000,000 excess of $50,000,000
Insuring Agreement E	Securities	$15,000,000 excess of $50,000,000
Insuring Agreement F	Counterfeit Currency	$15,000,000 excess of $50,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expense	NOT COVERED
Insuring Agreement I	Computer Systems	$15,000,000 excess of $50,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$15,000,000 excess of $50,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$15,000,000 excess of $50,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$15,000,000 excess of $50,000,000
	Automated Phone Systems	$15,000,000 excess of $50,000,000
	Destruction of Data or Programs by Hacker	$15,000,000 excess of $50,000,000
	Destruction of Data or Programs by Virus	$15,000,000 excess of $50,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $15,000,000.


US 00 H075 01 0909	© 2009, The Hartford	Page 4 of 7


Excess Layer	Carrier: Travelers Casualty and Surety Company of America
	Policy No.: 106547262

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $65,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $65,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $65,000,000
Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $65,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $65,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $65,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expense	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $65,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $65,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $65,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $65,000,000
	Automated Phone Systems	$10,000,000 excess of $65,000,000
	Destruction of Data or Programs by Hacker	$10,000,000 excess of $65,000,000
	Destruction of Data or Programs by Virus	$10,000,000 excess of $65,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


Excess Layer	Carrier: Continental Casualty Company
	Policy No.: 287042220

Coverage	Description	Limit of Insurance
Insuring Agreement A	Fidelity	$10,000,000 excess of $75,000,000
Insuring Agreement B	On Premises	$10,000,000 excess of $75,000,000
Insuring Agreement C	In Transit	$10,000,000 excess of $75,000,000
Insuring Agreement D	Forgery or Alteration	$10,000,000 excess of $75,000,000
Insuring Agreement E	Securities	$10,000,000 excess of $75,000,000
Insuring Agreement F	Counterfeit Currency	$10,000,000 excess of $75,000,000
Insuring Agreement G	Uncollectible Items of Deposit	NOT COVERED
Insuring Agreement H	Audit Expense	NOT COVERED
Insuring Agreement I	Computer Systems	$10,000,000 excess of $75,000,000
Insuring Agreement J	Customer Voice Initiated Transfers	$10,000,000 excess of $75,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud	$10,000,000 excess of $75,000,000
	Stop Payment	NOT COVERED
	Unauthorized Signatures	NOT COVERED
	Claims Expense	NOT COVERED
	Facsimile Signature	$10,000,000 excess of $75,000,000
	Automated Phone Systems	$10,000,000 excess of $75,000,000
	Destruction of Data or Programs by Hacker	$10,000,000 excess of $75,000,000
	Destruction of Data or Programs by Virus	$10,000,000 excess of $75,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


US 00 H075 01 0909	© 2009, The Hartford	Page 5 of 7


Excess Layer	Carrier: Starr Indemnity & Liability Company (Quota Share)
	Policy No.: 1000059071221

Coverage	Description		Limit of Insurance
Insuring Agreement A	Fidelity		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement B	On Premises		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement C	In Transit		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement D	Forgery or Alteration		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement E	Securities		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement F	Counterfeit Currency		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement G	Uncollectible Items of Deposit		NOT COVERED
Insuring Agreement H	Audit Expense		NOT COVERED
Insuring Agreement I	Computer Systems		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement J	Customer Voice Initiated Transfers		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
	Stop Payment		NOT COVERED
	Unauthorized Signatures		NOT COVERED
	Claims Expense		NOT COVERED
	Facsimile Signature		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
	Automated Phone Systems		$10,000,000 p/o $15,000,000 excess of
		$	85,000,000
	Destruction of Data or Programs by		$10,000,000 p/o $15,000,000 excess of
	Hacker	$	85,000,000
	Destruction of Data or Programs by		$10,000,000 p/o $15,000,000 excess of
	Virus	$	85,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $10,000,000.


US 00 H075 01 0909	© 2009, The Hartford	Page 6 of 7


Excess Layer	Carrier: Axis Insurance Company (Quota Share)
	Policy No.: P-001-000158021-03

Coverage	Description		Limit of Insurance
Insuring Agreement A	Fidelity		$5,000,000 p/o $15,000,000 excess
		of $	85,000,000
Insuring Agreement B	On Premises		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement C	In Transit		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement D	Forgery or Alteration		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement E	Securities		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement F	Counterfeit Currency		$5,000,000 p/o $15,000,000 excess of
		$	85,000,000
Insuring Agreement G	Uncollectible Items of Deposit		NOT COVERED
Insuring Agreement H	Audit Expense		NOT COVERED
			$5,000,000 p/o $15,000,000 excess of
Insuring Agreement I	Computer Systems	$	85,000,000
Insuring Agreement J	Customer Voice Initiated Transfers		$5,000,000 p/o $15,000,000 excess
		of $	85,000,000
Insuring Agreement K	Telefacsimile Transfer Fraud		$5,000,000 p/o $15,000,000 excess
		of $	85,000,000
	Stop Payment		NOT COVERED
	Unauthorized Signatures		NOT COVERED
	Claims Expense		NOT COVERED
	Facsimile Signature		$5,000,000 p/o $15,000,000 excess
		of $	85,000,000
	Automated Phone Systems		$5,000,000 p/o $15,000,000 excess
		of $	85,000,000
	Destruction of Data or Programs by		$5,000,000 p/o $15,000,000 excess
	Hacker	of $	85,000,000
	Destruction of Data or Programs		$5,000,000 p/o $15,000,000 excess
	by Virus	of $	85,000,000

X If this box is checked, this Policy is subject to an Aggregate Limit of Insurance each Bond or Policy Period, applicable to all Insuring Agreements of $5,000,000.

ITEM F. TERMINATION OF PRIOR POLICY(IES):

The Insured by the acceptance of the Policy gives notice to the Company terminating or canceling prior bond(s) or policy(ies) No.(s) 08 Fl 0252157-21 such termination or cancellation to be effective as of the time this Policy becomes effective.

ITEM G. EXTENDED REPORTING PERIOD is deleted in its entirety.

All other terms and conditions remain unchanged.

Douglas Elliot, President


US 00 H075 01 0909	© 2009, The Hartford	Page 7 of 7


		GU 207
		( 6 - 7 8		)
		ENDORSEMENT	6

This endorsement, effective 12:01 am, 7/01/22		forms part
of policy number	08 Fl 0252157-22
issued to:	FIDELITY FIXED INCOME AND ASSET ALLOCATION FUNDS
by:	TWIN CITY FIRE INSURANCE CO.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

EXCESS QUOTA SHARE PARTICIPATION ENDORSEMENT

This endorsement modifies insurance provided under the following:

THE HARTFORD UNIVERSAL EXCESS SIMPLIFIED POLICY

1.	This policy is part of a quota share participation arrangement between the Participating Insurance Company(ies) and the Insured (the "Program") which provides a $50,000,000 Limit of Liability excess of the Underlying Insurance and consists of the following:


Participating	Participating			Participating	Participating
Insurer	Insurance			Insurer's Limit of	Insurer's
	Policy No.			Liability	Percentage
Houston Casualty Company	24-MGU-22-A54576		$	8,000,000	8	%
XL Specialty Insurance Company	ELU183647-22		$	5,000,000	5	%
Ironshore Indemnity, Inc.	FI4NAB095H003		$	5,000,000	5	%
Twin City Fire Insurance Co.	08 Fl 0252157-22		$	10,000,000	10	%
Freedom Specialty Insurance Company	XJO2208786		$	10,000,000	10	%
London/Lloyds Syndicates (Antares
& Volante)	13012	P22		5,000,000	5	%

Everest Reinsurance Company	FL5FD00719-221			7,000,000	7	%

2.	Each Participating Insurance Company shall be liable only for its own percentage of each covered Loss, subject to its own limit of liability.


US 00 H040 00 0708	© 2008, The Hartford	Page 1 of 2

2021 by The Hartford. Classification: Non-Confidential. No part of this document may be reproduced, published or used without the permission of The Hartford.

GU 207
(6 - 78)

ENDORSEMENT 6

3.	Each Participating Insurance Company shall:
	A.	receive notice of any Claim submitted for coverage under the Program;
	B.	make its own determination of whether Loss is covered under the Program; and
	C.	elect whether to participate in the investigation, settlement or defense of any Claim.
4.	The liability of each Participating Insurance Company shall be several and not joint. The failure,
	refusal	or inability of any Participating Insurance Company to pay covered Loss, including, without limitation,
	an	inability based upon insolvency, shall not increase, or otherwise affect the liability of any other
	Participating	Insurance Company,
	All	other terms and conditions remain unchanged.


US 00 H040 00 0708	© 2008, The Hartford	Page 2 of 2

2021 by The Hartford. Classification: Non-Confidential. No part of this document may be reproduced, published or used without the permission of The Hartford.

THE
HARTFORD

TWIN CITY FIRE INSURANCE CO.

U.S. DEPARTMENT OF THE TREASURY, OFFICE OF FOREIGN ASSETS CONTROL

("OFAC") ADVISORY NOTICE TO POLICYHOLDERS

This Notice provides information concerning possible impact on your insurance coverage due to directives issued by the United States. Please read this Notice carefully.

The Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under U.S. jurisdiction. OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called "Specially Designated Nationa ls and Blocked Persons" or "SDNs". Their assets are blocked and U.S. persons are generally prohibited from dealing with them. This list can be located on OFAC's web site at — http//www.treas.gov/ofac.

In accordance with OFAC regulations, if it is determined that you or any other insured, or any person or entity claiming the benefits of this insurance has violated U.S. sanctions law or is an SDN, as identified by OFAC, the policy is a blocked contract and all dealings with it must involve OFAC. When an insurance policy is considered to be such a blocked or frozen contract, no payments nor premium refunds may be made without authorization from OFAC.


HG 00 H129 00 1016	© 2016, The Hartford	Page 1 of 1

08 FI 0252157-22

7/01/22


	THE
Producer Compensation Notice	HARTFORD

You can review and obtain information on The Hartford’s producer compensation practices at www.thehartford.com or at 1-800-592-5717.


F-5267-0
HR 00 H093 00 0207	© 2007, The Hartford	Page 1 of 1
08 FI 0252157-22	7/01/22

Home Office:
One West Nationwide Blvd.
Columbus, OH 43215
Administrative Office:
18700 North Hayden Road
Scottsdale, AZ 85255

January 10, 2023

Mary Coughlin
Willis
Willis Towers Watson Northeast, Inc.
75 Arlington Street
Floor 10, MA 02116

RE: Fidelity Equity & High Income Funds Policy Number: XJO2208785

Liability Limit: $10,000,000 Part of $50,000,000 Excess of $100,000,000 Single Loss Limit of Liability

$10,000,000 Part of $50,000,000 Excess of $100,000,000 Aggregate Limit of Liability

Dear Mary,

Nationwide is pleased to provide you with the enclosed Fidelity Equity & High Income Funds Policy, with effective dates 07/01/2022 to 07/01/2023, issued by National Casualty Company ("the Company”) to the above captioned insured.

As requested, the Policy has been issued despite the fact that Nationwide has not received all of the Underlying Excess policy(ies)/endorsements.

As you are aware, the binder for this Policy may contain a subjectivity(ies) regarding receipt, review and acceptance of complete copies of the binders for all of the Underlying Excess policies, as well as complete copies of all of the policies themselves. If applicable, please forward complete copies of all of the policies to my attention as soon as possible.

The Company fully reserves its rights to amend the Policy in the event that any inconsistencies exist between the binders related to the policies and the policies when issued. In addition, by issuing the Policy, the Company does not waive any rights or defenses it may have in connection with the Policy, nor is it stopped from asserting all or any defenses that may be available to it with regard to the Policy.

If you have any questions or concerns, please do not hesitate to contact me.

Enclosures

Underwritten by: National Casualty Company

Home Office: One Nationwide Plaza · Columbus, Ohio 43215 Administrative Office: 18700 North Hayden Road · Scottsdale, Arizona 85255 1-800-423-7675 · A Stock Company

In Witness Whereof, the Company has caused this policy to be executed and attested.

Secretary

President

The information contained herein replaces any similar information contained elsewhere in the policy.

UT-COVPG (03-21)

Page 1 of 1

Underwritten by: National Casualty Company Home Office: One Nationwide Plaza · Columbus, Ohio 43215 Administrative Office: 18700 North Hayden Road · Scottsdale, Arizona 85255 1-800-423-7675 · A Stock Company

EXCESS INSURANCE POLICY
Crime and Fidelity

DEPENDING UPON THE TERMS OF THE FOLLOWED POLICY, THIS POLICY MAY APPLY ONLY TO LOSSES FIRST DISCOVERED DURING THE POLICY PERIOD OR EXTENDED REPORTING PERIOD, IF APPLICABLE, AND THE LIMIT OF LIABILITY MAY BE REDUCED BY PAYMENT OF DEFENSE COSTS. PLEASE READ AND REVIEW THE POLICY CAREFULLY.


					DECLARATIONS
	Item 1.	Named		FIDELITY EQUITY & HIGH INCOME FUNDS			Policy No.:		XJO2208785
		Insured &		C/O FMR LLC, 88 FALCON , FIRST			Agent No.:		20408
		Mailing		FLOOR, EAST SIDE , SUITE 167,			Renewal No.: XJO2108785
		Address:		MAILZONE V7E, BOSTON, MA 02210
	Item 2.	Limit of Liability (maximum amount payable by the Insurer under this Policy)*
		A.	Single Loss Limit (Commercial Crime or Financial Institution Bond): $ 10,000,000
		B.	Aggregate Limit (Financial Institution Bond only):			$	10,000,000
	*Aggregate Limit is applicable to FI Bond only								Part of $ 50,000,000
	Item 3. Policy Period:
		07/01/2022 to 07/01/2023 12:01 A.M. standard time at Named Insured’s Mailing Address
	Item 4. Schedule of Underlying Policies:
		“Followed Policy” means the policy or coverage section identified below in the Schedule of Underlying
		Policies, as constituted at its inception (unless the Insurer consents to any change thereto by written
		endorsement to this Policy).

	Followed				Underlying		Limit of Liability
				Underlying Insurer						Policy Period
	Policy				Policy		x Single x Aggregate

	x		BERKSHIRE HATHAWAY SPECIALTY		47-EPF-315882-0			$	15,000,000	07/01/2022 -
			INSURANCE COMPANY		2					07/01/2023
	DEDUCTIBLE:
$	400,000

				SEE FORM UT-358 12-07 FOR COMPLETE SCHEDULE OF UNDERLYING POLICIES


“Underlying Limits” means the following amount: $ 100,000,000
Single Loss Limit (Financial Institution Bond or Commercial Crime):	$	100,000,000
Aggregate Limit (Financial Institution Bond only):	$	100,000,000

“Underlying Policies” means all policies or coverage sections of policies identified in the above Schedule of Underlying Policies, as constituted at their inception (unless the Insurer consents to any change thereto by written endorsement to this Policy). “Underlying Insurer” means any insurer identified in the above Schedule of Underlying Policies as issuing an Underlying Policy.


Item 5. Premium: $ 31,170		Terrorism Premium: $ Not Applicable Total Premium: Part of $ 156,528
Item 6.	Notice of Claims to:		Other Notices to:
	Nationwide Management Liability & Specialty		Nationwide Management Liability & Specialty
	Attention: Claims Manager		Attention: Claims Manager
	7 World Trade Center, 37^thFloor		7 World Trade Center, 37^thFloor
	250 Greenwich Street		250 Greenwich Street
	New York, NY 10007		New York, NY 10007
	mlsreportaclaim@nationwide.com		mlsreportaclaim@nationwide.com

XJ-D-1 (01-21)

Page 1 of 2

These Declarations, together with the application (as defined in the Followed Policy) and any information submitted therewith, the Policy, and any written endorsement(s) attached thereto, shall constitute the contract between the

Insureds and the Insurer.

XJ-D-1 (01-21)

Page 2 of 2


SCHEDULE OF FORMS AND ENDORSEMENTS

Policy No. XJO2208785			Effective Date 07/01/2022
			12:01 A.M. Standard Time
	Fidelity Equity & High Income
Named Insured	Funds		Agent No. 20408


UT-COVPG		03-21	COVER PAGE
XJ-D-1		01-21	EXCESS INSURANCE POLICY CRIME AND FIDELITY DECLARATIONS
UT-SP-2		12-95	SCHEDULE OF FORMS AND ENDORSEMENTS
XJ-P-1		08-17	EXCESS INSURANCE POLICY CRIME AND FIDELITY
UT-358		12-07	SCHEDULE OF UNDERLYING POLICIES
XM-207		08-17	AMEND REDUCTION OR EXHAUSTION OF UNDERLYING LIMITS-LOSS
XM-202		08-17	AMEND CONDITIONS OF COVERAGE
XM-232		08-17	QUOTA SHARE ENDORSEMENT
UT-3G		03-92	EXCESS POLICY - TIE IN OF LIMITS - AS EXPIRING
UT-3G		03-92	EXCESS POLICY - AMEND CONDITIONS OF COVERAGE - AS
			EXPIRING

UT-SP-2 (12-95)

Underwritten by: National Casualty Company

Home Office: One Nationwide Plaza • Columbus, Ohio 43215 Administrative Office: 8877 North Gainey Center Drive • Scottsdale, Arizona 85258 1-800-423-7675 • A Stock Company

EXCESS INSURANCE POLICY
Crime and Fidelity

UNLESS OTHERWISE PROVIDED IN THE FOLLOWED POLICY, THIS POLICY APPLIES ONLY TO LOSSES FIRST DISCOVERED BY THE INSURED DURING THE POLICY PERIOD OR EXTENDED REPORTING PERIOD.

In consideration of the payment of the premium and in reliance upon the application (as defined in the Followed Policy) and any information submitted therewith, and subject to the Declarations and terms and conditions of this Policy, the persons and entities entitled to coverage under the Followed Policy (the “Insureds”) and the Insurer agree as follows:

I.	INSURING AGREEMENT
	The	Insurer shall provide insurance coverage excess of the Underlying Limits in accordance with the
	same	terms, definitions, conditions, exclusions and limitations as are contained in the Followed Policy,
	except	with respect to the premium, the limit of liability and as otherwise provided herein.
II.	DEFINITIONS
	“Financial	Insolvency” means the status of any Underlying Insurer being subject to the appoint-
	ment,	by any state, federal or foreign official, agency or court, of any receiver, conservator, liquidator,
	trustee,	rehabilitator or similar official to take control of, supervise, manage or liquidate such Underly-
	ing	Insurer.
III.	REDUCTION OR EXHAUSTION OF UNDERLYING LIMITS
	A.	The Insurer shall not provide any coverage under this Policy until the full amount of the Underlying
		Limits	has been exhausted through payments by, on behalf of or in the place of the Underlying
		Insurers	of amounts covered under the terms of the Underlying Policies by any or all of the
		following:
		(1)	the Underlying Insurers under the Underlying Policies;
		(2)	the Insured; or
		(3)	any other source.
	B.	In the event that Underlying Limits are partially reduced by reason of actual payments as
		described	in Section III.A. above, then subject to the Limit of Liability this Policy shall continue to
		apply	as excess over the reduced Underlying Limits.
	C.	1. In the event that a Single Loss Limit of Liability is selected in Item 2.A. of the Declarations, and

the Underlying Polices have paid the full amount of their Single Loss Underlying Limits for each and every Underlying Policy as applicable, as described in Section III.A. above (and the full amount of any applicable deductible or uninsured retention has been paid under the Followed Policy by the Insured or others), then subject to the Single Loss Limit of Liability set forth on the Declarations of this Policy, this Policy shall continue to apply as primary insurance in accordance with the terms, definitions, conditions, exclusions and limitations of the Followed Policy and the terms, definitions, conditions, exclusions and limitations of this Policy; provided always that this Policy shall only pay excess of such deductible or retention, which shall be applied in the same manner as specified in the Followed Policy.

XJ-P-1 (8-17)

Page 1 of 2

	2. In the event that an Annual Aggregate Limit of Liability is selected in Item 2.B. of the
		Declarations, and the Underlying Limits are wholly exhausted by reason of actual payments as described in Section III.A. above (and the full amount of any applicable deductible or uninsured retention has been paid under the Followed Policy by the Insured or others), then subject to the Limit of Liability this Policy shall continue to apply as primary insurance in accordance with the terms, definitions, conditions, exclusions and limitations of the Followed Policy and the terms, definitions, conditions, exclusions and limitations of this Policy; provided always that this Policy shall only pay excess of such deductible or retention, which shall be applied in the same manner as specified in the Followed Policy.
	D.	This Policy shall only pay in the event of the reduction or exhaustion of the Underlying Limits by
		reason	of actual payments as described in Section III.A. above and shall not drop down for any
		other	reason, including but not limited to the existence of any sub-limit in any Underlying Policy;
		provided,	however, this Policy will recognize erosion of any of the Underlying Policies due to the
		existence	of a sub-limit.
	E.	The Insureds expressly retain the risk of any gap in coverage or uncollectibility and the Insurer
		does	not in any way insure or assume such risk.
IV.	CONDITIONS OF COVERAGE
	A.	As a condition precedent to this Policy’s coverage, in the event of the Financial Insolvency of any
		of	the Underlying Policies or the reduction or exhaustion of any of the Underlying Policies, the
		Insureds	shall notify the Insurer in writing as soon as practicable thereafter, with full particulars.
	B.	If during the Policy Period or any discovery or extended reporting period, any terms, definitions,
		conditions,	exclusions and limitations of the Followed Policy are changed, this Policy shall not be
		subject	to such change unless the Insurer consents by written endorsement to this Policy.

XJ-P-1 (8-17)

Page 2 of 2


SCHEDULE OF UNDERLYING POLICIES


Policy No. XJO2208785				Effective Date 07/01/2022

						12:01 A.M. Standard Time

Fidelity Equity & High Income
Named Insured Funds				Agent No. 20408


Issuing Insurer	Policy Number			Limits of Liability		Attachment

PRIMARY POLICY (FOLLOWED):
BERKSHIRE HATHAWAY SPECIALTY	47-EPF-315882-02		$	15,000,000		SEE FOLLOWED POLICY
INSURANCE COMPANY						DEDUCTIBLE


1st EXCESS:
FEDERAL INSURANCE COMPANY	82484869		$	10,000,000	$	15,000,000


2nd EXCESS:
NATIONAL UNION FIRE INSURANCE	01-317-28-50		$	10,000,000	$	25,000,000
COMPANY OF PITTSBURGH, PA


3rd EXCESS:
ICI MUTUAL INSURANCE COMPANY, RRG	87153122	D	$	15,000,000	$	35,000,000


4th EXCESS:
ALLIED WORLD ASSURANCE COMPANY,	C014840/012		$	15,000,000	$	50,000,000
AG


5th EXCESS:
TRAVELERS CASUALTY AND SURETY	106547262		$	10,000,000	$	65,000,000
COMPANY OF AMERICA


6th EXCESS:
CONTINENTAL CASUALTY COMPANY	287042220		$	10,000,000	$	75,000,000


7th EXCESS:
QUOTA SHARE MAXIMUM AGGREGATE
LIMIT: $15,000,000

AXIS INSURANCE COMPANY	P-001-000158021-03		$	5,000,000	$	85,000,000
				PART OF $15,000,000

STARR INDEMNITY & LIABILITY	1000059071221		$	10,000,000	$	85,000,000
COMPANY				PART OF $15,000,000

UT-358 (12-07)


Underwritten by National Casualty Company			ENDORSEMENT
			NO.	1

ATTACHED TO AND
	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED		AGENT NO..
POLICY^POLICYNUMBERNUMBER	((12:01 A.M. STANDARD TTIME)

XJO2208785

07/01/2022

Fidelity Equity & High Income Funds

20408

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

AMEND REDUCTION OR EXHAUSTION OF UNDERLYING LIMITS—LOSS

In consideration of the premium charged, it is hereby understood and agreed that Section III. REDUCTION OR EXHAUSTION OF UNDERLYING INSURANCE, subsection A. is deleted in its entirety and replaced with the following:

A.	The Insurer shall not provide any coverage under this Policy until the full amount of the Underlying
	Limits	has been exhausted through payments by, on behalf of or in the place of the Underlying In-
	surers	of Loss under the terms of the Underlying Policies by any or all of the following:
	(1)	The Underlying Insurers under the Underlying Policies;
	(2)	The Insured, including payments made on behalf of the Insured;
	(3)	A DIC Insurer, in the event the difference-in-conditions policy written by such DIC Insurer drops down to pay any amount due under the Underlying Policies; or
	(4)	Any third-party.

All other terms and conditions of this Policy remain unchanged.

AUTHORIZED REPRESENTATIVE

DATE

XM-207 (8-17)

Page 1 of 1


Underwritten by National Casualty Company			ENDORSEMENT
			NO.	2

ATTACHED TO AND
	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED		AGENT NO..
POLICY^POLICYNUMBERNUMBER	((12:01 A.M. STANDARD TTIME)

XJO2208785

07/01/2022

Fidelity Equity & High Income Funds

20408

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

AMEND CONDITIONS OF COVERAGE

In consideration of the premium charged, it is hereby understood and agreed that Section IV.A. CONDITIONS OF COVERAGE is deleted in its entirety and replaced by the following:

A.	In the event of the Financial Insolvency of any of the Underlying Policies or the reduction or exhaus- tion of any of the Underlying Policies, the Insureds shall notify the Insurer in writing as soon as practicable thereafter, with full particulars.

All other terms and conditions of this Policy remain unchanged.

AUTHORIZED REPRESENTATIVE

DATE

XM-202 (8-17)

Page 1 of 1

XJO2208785

07/01/2022

Fidelity Equity & High Income Funds

20408

1.	This Policy is part of a quota share participation arrangement between the Participating Insurers and the Insured (the “Program”) which provides a $50,000,000 Limit of Liability excess of the
	Underlying Limits as follows:


	Participating			Participating	Participating
Participating Insurer	Insurer’s Policy			Insurer’s	Insurer’s
	Number			Limit of Liability	Percentage
National Casualty	XJO2208785		$	10,000,000	20.00	%
Company
Everest	FL5FD00719-221		$	7,000,000	14.00	%
Reinsurance
Company
XL Specialty	ELU183647-22		$	5,000,000	10.00	%
Insurance Company
Ironshore	FI4NAB095H003		$	5,000,000	10.00	%
Indemnity Inc.
Twin City Fire	08 FI 0252157 -		$	10,000,000	20.00	%
Insurance Company	22
U.S. Specialty	24-MGU-22-A54576		$	8,000,000	16.00	%
Insurance Company
Lloyd's of London	13012	P22	$	5,000,000	10.00	%

2.	Each Participating Insurer shall be liable only for its own percentage of each covered Loss, subject
	to	its own Limit of Liability.
3.	Each Participating Insurer shall:
	A.	receive notice of any Claim submitted for coverage under the Program;
	B.	make its own determination of whether loss is covered under the Program; and
	C.	elect whether to participate in the investigation, settlement or defense of any Claim.
4.	The liability of each Participating Insurer shall be several and not joint. The failure, refusal or inability
	of	any Participating Insurer to pay covered Loss, including, without limitation, an inability based upon
	insolvency,	shall not increase or otherwise affect the liability of any other Participating Insurer. The
	Insured	expressly retains the risk of any gap in coverage or uncollectibility and the Insurer does not
	in	any way insure or assume such risk.

Page 1 of 2

5.	Item 2. of the Declarations is deleted in its entirety and replaced by the following: Item 2. See Excess Policy--Quota Share Endorsement

All other terms and conditions of this Policy remain unchanged.


		ENDORSEMENT
		NO.	4
ATTACHED TO AND	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED	AGENT NO.
POLICY NUMBER	(12:01 A.M. STANDARD TIME)
XJO2208785	07/01/2022	Fidelity Equity & High Income Funds	20408

	THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY
TIE-IN OF LIMITS ENDORSEMENT
	This endors ement modifies ins ura nce provided under the following:
EXCESS INSURANCE P OLICY

In cons idera tion of the pre mium pa id, it is hereby unders tood and agree d that there s hall be a combine d limit of lia bility of $10,000,000 for all Claims under this policy and a ll Claims under policy number XMF2 200059 is s ued by the Co mp a n y to a ll fidelity funds bonds , including a ny policy that re news or replaces or s ucceeds in time e ither policy, which combined limit of lia bility s ha ll be the maximum amount pa ya ble by the Co m p an y unde r all s uch policies .

All oth er term s an d co n dition s o f th is Polic y rem ain un ch an ged .

AUTHORIZED REPRESENTATIVE

DATE

UT-3g 2911-M (9-18)

Page 1 of 1


			ENDORSEMENT
			NO.	5

ATTACHED TO AND	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED		AGENT NO.
POLICY NUMBER	(12:01 A.M. STANDARD TIME)

XJO2208785	07/01/2022	Fidelity Equity & High Income Funds		20408

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY

AMEND CONDITIONS OF COVERAGE

This endorsement modifies insurance provided under the following:

EXCESS INSURANCE POLICY

In consideration of the premium paid, it is hereby understood and agreed that Section IV. CONDITIONS

OF COVERAGE, of this Policy is amended by adding the following:

In the event a coverage dispute arises between the Insured and the Insurer of this Policy in relation to matters that are also the subject of a dispute with an Underlying Insurer, then at the Insured’s election, those disputes shall be heard together in the same court or arbitration proceedings.

All other terms and conditions of this Policy remain unchanged.

AUTHORIZED REPRESENTATIVE

DATE

UT-3g 2913-M (9-18)

Page 1 of 1

National Casualty Company

U.S. TREASURY DEPARTMENT’S OFFICE OF FOREIGN ASSETS CONTROL

(“OFAC”) ADVISORY NOTICE TO POLICYHOLDERS

No coverage is provided by this Policyholder Notice nor can it be construed to replace any provisions of this Policy. Read this policy and review the Declarations page for complete information on the coverages provided.

This Notice provides information concerning possible impact on this Policy’s insurance coverage due to directives issued by the Office of Foreign Assets Control (“OFAC”). Please read this Notice carefully.

OFAC administers and enforces sanctions policy, based on Presidential declarations of “national emergency.” OFAC has identified and listed numerous:

Foreign agents;
Front organizations;
Terrorists;
Terrorist organizations; and
Narcotics traffickers;

as “Specially Designated Nationals and Blocked Persons.” This list can be located on the United States Treasury’s website: http://www.treas.gov/ofac/

In accordance with OFAC regulations, if it is determined that any insured, or any person or entity claiming the benefits of this insurance has violated U.S. sanctions law or is a Specially Designated National and Blocked Person, as identified by OFAC, this insurance will be considered a blocked or frozen contract and all provisions of this insurance are immediately subject to OFAC. When an insurance policy is considered to be such a blocked or frozen contract, no payments nor premium refunds may be made without authorization from OFAC. Other limitations on the premiums and payments also apply.

NOTN0442CW (03-22)

Home Office:
One West Nationwide Blvd.
Columbus, OH 43215
Administrative Office:
18700 North Hayden Road
Scottsdale, AZ 85255

January 5, 2023

Mary Coughlin
Willis
Willis Towers Watson Northeast, Inc.
75 Arlington Street
Floor 10, MA 02116

RE: Fidelity Fixed Income & Asset Allocation Policy Number: XJO2208786

Liability Limit: $10,000,000 Part of $50,000,000 Excess of $100,000,000 Single Loss Limit of Liability

$10,000,000 Part of $50,000,000 Excess of $100,000,000 Aggregate Limit of Liability

Dear Mary,

Nationwide is pleased to provide you with the enclosed Fidelity Fixed Income & Asset Allocation Policy, with effective dates 07/01/2022 to 07/01/2023, issued by National Casualty Company ("the Company”) to the above captioned insured.

As requested, the Policy has been issued despite the fact that Nationwide has not received all of the Underlying Excess policy(ies)/endorsements.

If you have any questions or concerns, please do not hesitate to contact me.

Enclosures

Underwritten by: National Casualty Company

Home Office: One Nationwide Plaza · Columbus, Ohio 43215 Administrative Office: 18700 North Hayden Road · Scottsdale, Arizona 85255 1-800-423-7675 · A Stock Company

In Witness Whereof, the Company has caused this policy to be executed and attested.

Secretary

President

The information contained herein replaces any similar information contained elsewhere in the policy.

UT-COVPG (03-21)

Page 1 of 1

EXCESS INSURANCE POLICY
Crime and Fidelity


					DECLARATIONS
	Item 1.	Named		FIDELITY FIXED INCOME & ASSET			Policy No.:		XJO2208786
		Insured &		ALLOCATION			Agent No.:		20408
		Mailing		C/O FMR LLC, 88 FALCON , FIRST			Renewal No.: XJO2108786
		Address:		FLOOR, EAST SIDE, SUITE 167.
				MAILZONE V7E, BOSTON, MA 02210
	Item 2.	Limit of Liability (maximum amount payable by the Insurer under this Policy)*
		A.	Single Loss Limit (Commercial Crime or Financial Institution Bond): $ 10,000,000
		B.	Aggregate Limit (Financial Institution Bond only):			$	10,000,000
	*Aggregate Limit is applicable to FI Bond only								Part of $ 50,000,000
	Item 3. Policy Period:
		07/01/2022 to 07/01/2023 12:01 A.M. standard time at Named Insured’s Mailing Address
	Item 4. Schedule of Underlying Policies:
		“Followed Policy” means the policy or coverage section identified below in the Schedule of Underlying
		Policies, as constituted at its inception (unless the Insurer consents to any change thereto by written
		endorsement to this Policy).

	Followed				Underlying		Limit of Liability
				Underlying Insurer						Policy Period
	Policy				Policy		x Single x Aggregate

	x		BERKSHIRE HATHAWAY SPECIALTY		47-EPF-315882-0			$	15,000,000	07/01/2022 -
			INSURANCE COMPANY		2					07/01/2023
	DEDUCTIBLE:
$	400,000

				SEE FORM UT-358 12-07 FOR COMPLETE SCHEDULE OF UNDERLYING POLICIES


“Underlying Limits” means the following amount: $ 100,000,000
Single Loss Limit (Financial Institution Bond or Commercial Crime):	$	100,000,000
Aggregate Limit (Financial Institution Bond only):	$	100,000,000


Item 5. Premium: $ 31,170		Terrorism Premium: $ Not Applicable Total Premium: Part of $ 156,528
Item 6.	Notice of Claims to:		Other Notices to:
	Nationwide Management Liability & Specialty		Nationwide Management Liability & Specialty
	Attention: Claims Manager		Attention: Claims Manager
	7 World Trade Center, 37^thFloor		7 World Trade Center, 37^thFloor
	250 Greenwich Street		250 Greenwich Street
	New York, NY 10007		New York, NY 10007
	mlsreportaclaim@nationwide.com		mlsreportaclaim@nationwide.com

XJ-D-1 (01-21)

Page 1 of 2

Insureds and the Insurer.

XJ-D-1 (01-21)

Page 2 of 2


SCHEDULE OF FORMS AND ENDORSEMENTS

Policy No. XJO2208786		Effective Date 07/01/2022
		12:01 A.M. Standard Time
	Fidelity Fixed Income & Asset
Named Insured	Allocation	Agent No. 20408


UT-COVPG	03-21	COVER PAGE
XJ-D-1	01-21	EXCESS INSURANCE POLICY CRIME AND FIDELITY DECLARATIONS
UT-SP-2	12-95	SCHEDULE OF FORMS AND ENDORSEMENTS
XJ-P-1	08-17	EXCESS INSURANCE POLICY CRIME AND FIDELITY
UT-358	12-07	SCHEDULE OF UNDERLYING POLICIES
XM-207	08-17	AMEND REDUCTION OR EXHAUSTION OF UNDERLYING LIMITS-LOSS
XM-202	08-17	AMEND CONDITIONS OF COVERAGE
XM-232	08-17	QUOTA SHARE ENDORSEMENT
UT-3G	03-92	EXCESS POLICY - TIE IN OF LIMITS - AS EXPIRING
UT-3G	03-92	EXCESS POLICY - AMEND CONDITIONS OF COVERAGE - AS
		EXPIRING

UT-SP-2 (12-95)

Underwritten by: National Casualty Company

Home Office: One Nationwide Plaza • Columbus, Ohio 43215 Administrative Office: 8877 North Gainey Center Drive • Scottsdale, Arizona 85258 1-800-423-7675 • A Stock Company

EXCESS INSURANCE POLICY
Crime and Fidelity

UNLESS OTHERWISE PROVIDED IN THE FOLLOWED POLICY, THIS POLICY APPLIES ONLY TO LOSSES FIRST DISCOVERED BY THE INSURED DURING THE POLICY PERIOD OR EXTENDED REPORTING PERIOD.

I.	INSURING AGREEMENT
	The	Insurer shall provide insurance coverage excess of the Underlying Limits in accordance with the
	same	terms, definitions, conditions, exclusions and limitations as are contained in the Followed Policy,
	except	with respect to the premium, the limit of liability and as otherwise provided herein.
II.	DEFINITIONS
	“Financial	Insolvency” means the status of any Underlying Insurer being subject to the appoint-
	ment,	by any state, federal or foreign official, agency or court, of any receiver, conservator, liquidator,
	trustee,	rehabilitator or similar official to take control of, supervise, manage or liquidate such Underly-
	ing	Insurer.
III.	REDUCTION OR EXHAUSTION OF UNDERLYING LIMITS
	A.	The Insurer shall not provide any coverage under this Policy until the full amount of the Underlying
		Limits	has been exhausted through payments by, on behalf of or in the place of the Underlying
		Insurers	of amounts covered under the terms of the Underlying Policies by any or all of the
		following:
		(1)	the Underlying Insurers under the Underlying Policies;
		(2)	the Insured; or
		(3)	any other source.
	B.	In the event that Underlying Limits are partially reduced by reason of actual payments as
		described	in Section III.A. above, then subject to the Limit of Liability this Policy shall continue to
		apply	as excess over the reduced Underlying Limits.
	C.	1. In the event that a Single Loss Limit of Liability is selected in Item 2.A. of the Declarations, and

XJ-P-1 (8-17)

Page 1 of 2

	2. In the event that an Annual Aggregate Limit of Liability is selected in Item 2.B. of the
		Declarations, and the Underlying Limits are wholly exhausted by reason of actual payments as described in Section III.A. above (and the full amount of any applicable deductible or uninsured retention has been paid under the Followed Policy by the Insured or others), then subject to the Limit of Liability this Policy shall continue to apply as primary insurance in accordance with the terms, definitions, conditions, exclusions and limitations of the Followed Policy and the terms, definitions, conditions, exclusions and limitations of this Policy; provided always that this Policy shall only pay excess of such deductible or retention, which shall be applied in the same manner as specified in the Followed Policy.
	D.	This Policy shall only pay in the event of the reduction or exhaustion of the Underlying Limits by
		reason	of actual payments as described in Section III.A. above and shall not drop down for any
		other	reason, including but not limited to the existence of any sub-limit in any Underlying Policy;
		provided,	however, this Policy will recognize erosion of any of the Underlying Policies due to the
		existence	of a sub-limit.
	E.	The Insureds expressly retain the risk of any gap in coverage or uncollectibility and the Insurer
		does	not in any way insure or assume such risk.
IV.	CONDITIONS OF COVERAGE
	A.	As a condition precedent to this Policy’s coverage, in the event of the Financial Insolvency of any
		of	the Underlying Policies or the reduction or exhaustion of any of the Underlying Policies, the
		Insureds	shall notify the Insurer in writing as soon as practicable thereafter, with full particulars.
	B.	If during the Policy Period or any discovery or extended reporting period, any terms, definitions,
		conditions,	exclusions and limitations of the Followed Policy are changed, this Policy shall not be
		subject	to such change unless the Insurer consents by written endorsement to this Policy.

XJ-P-1 (8-17)

Page 2 of 2


SCHEDULE OF UNDERLYING POLICIES


Policy No. XJO2208786				Effective Date 07/01/2022

						12:01 A.M. Standard Time

Fidelity Fixed Income & Asset
Named Insured Allocation				Agent No. 20408


Issuing Insurer	Policy Number			Limits of Liability		Attachment

PRIMARY POLICY (FOLLOWED):
BERKSHIRE HATHAWAY SPECIALTY	47-EPF-315882-02		$	15,000,000		SEE FOLLOWED POLICY
INSURANCE COMPANY						DEDUCTIBLE


1st EXCESS:
FEDERAL INSURANCE COMPANY	82484869		$	10,000,000	$	15,000,000


2nd EXCESS:
NATIONAL UNION FIRE INSURANCE	01-317-28-50		$	10,000,000	$	25,000,000
COMPANY OF PITTSBURGH, PA


3rd EXCESS:
ICI MUTUAL INSURANCE COMPANY, RRG	87153122	D	$	15,000,000	$	35,000,000


4th EXCESS:
ALLIED WORLD ASSURANCE COMPANY,	C014840/012		$	15,000,000	$	50,000,000
LTD.


5th EXCESS:
TRAVELERS CASUALTY AND SURETY	106547262		$	10,000,000	$	65,000,000
COMPANY OF AMERICA


6th EXCESS:
CONTINENTAL CASUALTY COMPANY	287042220		$	10,000,000	$	75,000,000


7th EXCESS:
QUOTA SHARE MAXIMUM AGGREGATE
LIMIT: $15,000,000

AXIS INSURANCE COMPANY	P-001-000158021-03		$	5,000,000	$	85,000,000
				PART OF $15,000,000

STARR INDEMNITY & LIABILITY	1000059071221		$	10,000,000	$	85,000,000
COMPANY				PART OF $15,000,000

UT-358 (12-07)


Underwritten by National Casualty Company			ENDORSEMENT
			NO.	1

ATTACHED TO AND
	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED		AGENT NO..
POLICY^POLICYNUMBERNUMBER	((12:01 A.M. STANDARD TTIME)

XJO2208786

07/01/2022

Fidelity Fixed Income & Asset Allocation 20408

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

AMEND REDUCTION OR EXHAUSTION OF UNDERLYING LIMITS—LOSS

A.	The Insurer shall not provide any coverage under this Policy until the full amount of the Underlying
	Limits	has been exhausted through payments by, on behalf of or in the place of the Underlying In-
	surers	of Loss under the terms of the Underlying Policies by any or all of the following:
	(1)	The Underlying Insurers under the Underlying Policies;
	(2)	The Insured, including payments made on behalf of the Insured;
	(3)	A DIC Insurer, in the event the difference-in-conditions policy written by such DIC Insurer drops down to pay any amount due under the Underlying Policies; or
	(4)	Any third-party.

All other terms and conditions of this Policy remain unchanged.

AUTHORIZED REPRESENTATIVE

DATE

XM-207 (8-17)

Page 1 of 1


Underwritten by National Casualty Company			ENDORSEMENT
			NO.	2

ATTACHED TO AND
	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED		AGENT NO..
POLICY^POLICYNUMBERNUMBER	((12:01 A.M. STANDARD TTIME)

XJO2208786

07/01/2022

Fidelity Fixed Income & Asset Allocation 20408

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

AMEND CONDITIONS OF COVERAGE

In consideration of the premium charged, it is hereby understood and agreed that Section IV.A. CONDITIONS OF COVERAGE is deleted in its entirety and replaced by the following:

A.	In the event of the Financial Insolvency of any of the Underlying Policies or the reduction or exhaus- tion of any of the Underlying Policies, the Insureds shall notify the Insurer in writing as soon as practicable thereafter, with full particulars.

All other terms and conditions of this Policy remain unchanged.

AUTHORIZED REPRESENTATIVE

DATE

XM-202 (8-17)

Page 1 of 1

XJO2208786

07/01/2022

Fidelity Fixed Income & Asset Allocation 20408

1.	This Policy is part of a quota share participation arrangement between the Participating Insurers and the Insured (the “Program”) which provides a $50,000,000 Limit of Liability excess of the
	Underlying Limits as follows:


	Participating			Participating	Participating
Participating Insurer	Insurer’s Policy			Insurer’s	Insurer’s
	Number			Limit of Liability	Percentage
National Casualty	XJO2208786		$	10,000,000	20.00	%
Company
Ironshore	FI4NAB095H003		$	5,000,000	10.00	%
Indemnity Inc.
XL Specialty	ELU183647-22		$	5,000,000	10.00	%
Insurance Company
Everest National	FL5FD00719-221		$	7,000,000	14.00	%
Insurance Company
Lloyd's of London	13012	P22	$	5,000,000	10.00	%
U.S. Specialty	24-MGU-22-A54576		$	8,000,000	16.00	%
Insurance Company
Twin City Fire	08 FI 0252157 -		$	10,000,000	20.00	%
Insurance Company	22

2.	Each Participating Insurer shall be liable only for its own percentage of each covered Loss, subject
	to	its own Limit of Liability.
3.	Each Participating Insurer shall:
	A.	receive notice of any Claim submitted for coverage under the Program;
	B.	make its own determination of whether loss is covered under the Program; and
	C.	elect whether to participate in the investigation, settlement or defense of any Claim.
4.	The liability of each Participating Insurer shall be several and not joint. The failure, refusal or inability
	of	any Participating Insurer to pay covered Loss, including, without limitation, an inability based upon
	insolvency,	shall not increase or otherwise affect the liability of any other Participating Insurer. The
	Insured	expressly retains the risk of any gap in coverage or uncollectibility and the Insurer does not
	in	any way insure or assume such risk.
5.	Item 2. of the Declarations is deleted in its entirety and replaced by the following:

Page 1 of 2

Item 2. See Excess Policy--Quota Share Endorsement

All other terms and conditions of this Policy remain unchanged.


		ENDORSEMENT
		NO.	4
ATTACHED TO AND	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED	AGENT NO.
POLICY NUMBER	(12:01 A.M. STANDARD TIME)
XJO2208786	07/01/2022	Fidelity Fixed Income & Asset Allocation	20408

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

TIE-IN OF LIMITS ENDORSEMENT

This endorsement modifies insurance provided under the following:

EXCESS INSURANCE POLICY

In consideration of the premium paid, it is hereby understood and agreed that there shall be a combined limit of liability of $10,000,000 for all Claims under this policy and all Claims under policy number XMF2200061 issued by the Company to all fidelity funds bonds, including any policy that renews or replaces or succeeds in time either policy, which combined limit of liability shall be the maximum amount payable by the Company under all such policies.

All other terms and conditions of this Policy remain unchanged.

AUTHORIZED REPRESENTATIVE

DATE

Page 1 of 1


		ENDORSEMENT

		NO.	5

ATTACHED TO AND
	ENDORSEMENT EFFECTIVE DATE
FORMING A PART OF		NAMED INSURED	AGENT NO.
POLICY NUMBER	(12:01 A.M. STANDARD TIME)

XJO2208786	07/01/2022	Fidelity Fixed Income & Asset Allocation	20408

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

AMEND CONDITIONS OF COVERAGE

This endorsement modifies insurance provided under the following:

EXCESS INSURANCE POLICY

In consideration of the premium paid, it is hereby understood and agreed that Section IV. CONDITIONS

OF COVERAGE, of this Policy is amended by adding the following:

In the event a coverage dispute arises between the Insured and the Insurer of this Policy in relation to matters that are also the subject of a dispute with an Underlying Insurer, then at the Insured’s election, those disputes shall be heard together in the same court or arbitration proceedings

All other terms and conditions of this Policy remain unchanged.

AUTHORIZED REPRESENTATIVE

DATE

Page 1 of 1

National Casualty Company

U.S. TREASURY DEPARTMENT’S OFFICE OF FOREIGN ASSETS CONTROL

(“OFAC”) ADVISORY NOTICE TO POLICYHOLDERS

OFAC administers and enforces sanctions policy, based on Presidential declarations of “national emergency.” OFAC has identified and listed numerous:

Foreign agents;
Front organizations;
Terrorists;
Terrorist organizations; and
Narcotics traffickers;

as “Specially Designated Nationals and Blocked Persons.” This list can be located on the United States Treasury’s website: http://www.treas.gov/ofac/

NOTN0442CW (03-22)