Jason Duffy Vice President Insurance & Risk Management FMR LLC 82 Devonshire Street, F3D, Boston, MA City, 02109-3614 Phone: 617-563-9480: Fax: 617-385-0811 jason.duffy@fmr.com

June 24, 2014

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, 2013 -July 1, 2014

To Whom it May Concern,

We submit the following excess bond policies on behalf of Fidelity Investments Mutual Funds for $70,000,000 excess of $150,000,000 in coverage:

London: Syndicates ACE AGM 2488

Policy No: B080113017P13 (Equity and High Income Funds)

Policy No: B080113011P13 (Fixed Income & Asset Allocation Funds) Participation: $40M part of $70M x $150M

ICI Mutual Insurance Company

Policy No: 87153213B (Equity and High Income Funds)

Policy No: 87153113B (Fixed Income & Asset Allocation Funds) Participation: $15M part of $70M x $150M

Federal Insurance Company (Chubb)

Policy No: 81906761 (Equity and High Income Funds)

Policy No: 82179281 (Fixed Income & Asset Allocation Funds) Participation: $5M part of $70M x $150M

XL Specialty Insurance Company

Policy No: ELU130363-13 (Equity and High Income Funds)

Policy No: ELU130364-13 (Fixed Income & Asset Allocation Funds) Participation: $10M part of $70M x $150M

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

0000880195-13-000825.

Sincerely,

Jason R. Duffy

Enc.

Lloyd's Policy

We, Underwriting Members of the Syndicates whose definitive numbers

and proportions are shown in the Table attached hereto (hereinafter referred to as 'the Underwriters'), hereby agree, in consideration of the payment to Us by or on behalf of the Assured of the Premium specified in the Schedule, to insure against loss, including but not limited to associated expenses specified herein, if any, to the extent and in the manner provided in this Policy.

The Underwriters hereby bind themselves severally and not jointly, each for

his own part and not one for another, and therefore each of the Underwriters (and his Executors and Administrators) shall be liable only for his own share of his Syndicate's proportion of any such Loss and of any such Expenses. The identity of each of the Underwriters and the amount of his share may be ascertained by the Assured or the Assured's representative on application to Lloyd's Policy Signing Office, quoting the Lloyd's Policy Signing Office number and date or reference shown in the Table.

If the Assured shall make any claim knowing the same to be false or fraudulent, as regards amount or otherwise, this Policy shall become void and all claim hereunder

shall be forfeited.

In WitneSS whereof the General Manager of Lloyd's Policy Signing Office has

signed this Policy on behalf of each of Us.

LLOYD'S POLICY SIGNING OFFICE General Manager

If this policy (or any subsequent endorsement) has been produced to you in electronic form, the original document is stored on the Insurer's Market Repository to which your broker has access.

J(A) NMA2421 (3/1/95) Form approved by Lloyd's Market Association

	WILLIS EXCESS FINANCIAL LINES POLICY
		Please read this Policy carefully.
		SCHEDULE
PolicyNumber: B080113017P13
Item 1:	Insured:	Fidelity Equityand High Income Funds
	Principal Address:	c/o FMR LLC
		82 Devonshire Street F3D,
Boston,
		Massachusetts 02109,
		United States of America
Item 2:	Insurer(s).	Lloyd's Syndicates:
		ACE AGM 2488 and others

Item 3: Period ofInsurance: 1 July 2013 to 1 July 2014

Both Daysat 00:01 local standard time at the Principal address

shown at Item 1 above.

Item 4;

Limit ofLiability:

USD 40,000,000 any one loss/claim and in the aggregate for the period part ofUSD 70,000,000 any one loss/claim and in the aggregate for the period

Item 5:	Underlying
	Policy(ies):	in excess of underlying contracts for
		USD 150,000,000 any one loss/claimand in the aggregate for
		the period
		the details of which are held on file in the offices of Willis
		Limited
	Retention:	PrimaryContractRetentions detailed as per National Union Fire
		InsuranceCompany ofPittsburgh PA
Policy No: 04-406-40-33
Item 6:	Premium:

Taxes:

None

Item 7:	Notification(s) in accordance with clause 5 required to be
	addressed to:		Willis Limited,
			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:	Addressees for complaints:
	(a)	For Insurers who are Lloyd's Insurers:
			Policyholder and Market Assistance
			Lloyd's Market Services
			One Lime Street
			London
			EC3M 7HA
			United Kingdom.
			Telephone:	+	44	(0)207 327 5693
			Facsimile:	+	44	(0)207 327 5225
			Email:		Complaints(5),Llovds.com

(b)	For all other Insurers:
	Willis Limited will provide details on request.

Dated in London: 12 August 2013

WILLIS EXCESS FINANCIAL LINES POLICY

In consideration ofthe Insured having paid or agreed to pay the Premium and subject to all ofthe 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 ofthis 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 ofthis 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 ofthis Policy shall apply;

this Policy shall take effect and operate in accordance with the terms ofthe Primary Policy.

1.2	Subject to the Limit ofLiability, the Insurers shall pay to or on behalf ofthe Insured that proportion of Loss which exceeds the UnderlyingLimit.
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 ofthe Underlying Policy(ies) shall havepaid 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 potentiallygiving riseto paymentsthereunder in respectof Loss.

"Insured' shall mean those persons and organisations identified at Item 1 ofthe Schedule and all other persons and organisations as are insured or otherwiseentitledto indemnity under the Primary Policy.

"Insurers" shall mean the insurers ofthis Policy identified at Item 2 ofthe Schedule.

"LimitofLiability" shall mean the sum(s) shown at Item 4 ofthe 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 ofthe Schedule. For the avoidance of doubt, there shall be no reinstatement ofthe Limit ofLiability unless expressly provided for at Item 4, notwithstanding that the Primary Policy may provide for one or more reinstatements.

"Loss" shall mean all and any amounts for which Insurers are liable to the Insured pursuant to the terms and conditions ofthis Policy and, for the avoidance of doubt and subject only to the operation of any express terms hereof in accordancewith clause 1.1 above, this Policy shall be liable to pay as Loss all losses, costs, liabilities or damages and other expenses ofthe 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 ofthis

Policy to the InsuredTor costsand expenses ofanykind whatsoever shall be part of, and not in addition to, the Limit ofLiability.

"Period ofInsurance" shall mean the period set out at Item 3 ofthe Schedule.

"Policy" shall mean this insurancecontract 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 ofthe Primary Policy applicable to any loss or liability (as applicable) as set out in Item 5(a) ofthe Schedule.

"Primary Policy" shall mean the policy identified at Item 5(a) ofthe 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. Forthe 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 insurercredit forthe value of other insuranceor indemnification, or which requires the Insured to pursue such insuranceor indemnification priorto claiming under the UnderlyingPolicy (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 categoryofloss or liability(as applicable) andwhich specifies that the maximum liability ofthe insurer shall be less than the otherwise generally applicable limit of liability ofthe Primary Policy.

"Underlying Limit" shallmean the cumulativetotal ofthe limits of liability ofthe insureds) ofthe Underlying Policy(ies) applicable to any loss or liability (as applicable) as set out in Item 5 ofthe

Schedule.

"Underlying Policy(ies)" shall mean the policieslisted at Item 5 ofthe Schedule.

3. Maintenance of the Underlying Policy(ies)

The Primary Policy, or any policies issued in substitutionthereof, shall be maintained in full force and effect during the Period ofInsurance save to the extent that it is eroded.This obligation shall ceaseto apply in the event that the Primary Policy is completely eroded.Clause 1.3 hereof shall apply for the purposes of determining whether andto 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 ofthis Policy to have been maintained. The Primary Policy shall be deemed maintained if it is replaced by the operation of clause 4 hereof.

4. Step-Down of Cover

Subject always to the Limit ofLiability:

4.1	In the event of the reduction ofthe amount of indemnity available under any Underlying Policy by reason of partial erosion ofthe Underlying Limit(and in determining the existence and extent of such erosion the provisionsof clause 1.3 shall apply) this Policy shall, subject to the Limitof Liability and to the other terms, conditions and limitations ofthis 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 ofthere being no indemnity available under the Underlying Policy(ies) by reason of the complete erosion ofthe 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 LimitofLiability 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 PrimaryPolicy 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.

6.	Claims Participation
6.1	The Insurers shall have no liability to pay costs and expenses incurred by or on behalf ofthe 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 ofthe Insured for such a sum as will require payment by Insurersunder this Policy unless the consent ofthe 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 terminatedor 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 respectof the Primary Policy or in respectof 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 followingorder to the following parties:

(i)      to the Insured or, to such extent, if any, as appropriate, to any insurer of a policy applying excess ofthis Policy, but only to the extent (ifany) by which such loss or liability (as applicable) exceeded the sum ofthe excess, deductible or retention of the Primary Policy, the UnderlyingLimit and the amount paid hereunder; and,

(ii)	if any balance remains followingthe application of(i) above, to the Insurersto the extent ofthe amount(s) paid by them hereunder in respect of Loss; and,
(iii)	if anybalance remains following the application of (i) and(ii) above, to those, if any, entitled pursuantto the operationof the Underlying Policiesto such extent, if any, ofthe entitlements

conferred thereunder; and

For the avoidanceof doubt, nothing in this Policy shall be construed as limiting or delaying the Insured's right to paymentof any Loss hereunderuntil suchtime as it has effected any recovery.

9. Alteration

No material amendment to the terms of the Primary Policy shallapply in respectof this Policy unless and until agreed in writing by the Insurers.

10. Reporting Period

Where the terms ofthe Primary Policy provide:

(i)      the Insuredwith a period oftime immediately following the policy period ofthe Primary Policy during which notice may be given to the insurersofthe Primary Policy ofany 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 ofthe State of Massachusetts and any dispute arising hereunder shall be subject to the exclusive jurisdiction ofthe courts ofUnited States ofAmerica as per NMA 1998 Service of Suit Clause U.S.A. as attached.

12. Complaints

The Insurers aim to provide a high standardat all times but if the Insuredis not satisfied with the

service provided it should contact the following:

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

In respect of Insurersother than Lloyd's underwriters, Willis Limited will provide on request details of

the relevant persons.

In the event that the Insured remains dissatisfied it may be possible for the Insured's complaint to be referred to the Financial Ombudsman Service who may review the matter. The Financial Ombudsman Service address is:

Financial Ombudsman Service
South Quay Plaza

183 Marsh Wall

London E14 9SR
Telephone: 0845 0801800
Email: enquiries@financial-ombudsman.org.uk

ENDORSEMENT No 1

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

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'sor 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 ratato 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 releaseof liability from the Insured.

NMA2975 (amended)

30/05/03

ENDORSEMENT No 2

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

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 ofthe "U.S. Terrorism Risk Insurance Act of2002" as amended as summarized in the disclosure notice.

In consideration of an additional premium ofUSD 1,834 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 ofterrorism" 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 ofterrorism" as defined in TRIA. The coverage provided by this Endorsement shall expire at 12:00 midnight 31 December 2014, the date on which the TRIA Program is scheduled to terminate, or the expiry date ofthe policy whichever occurs first, and shall not cover any losses or events which arise after the earlier ofthese 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 ofterrorism".

This Endorsement only affects the Terrorism exclusion to which this Insurance is subject. All other terms, conditions, insured coverage and exclusions ofthis 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 ofTRIA (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.

21/12/2007

LMA5091
Form approved by Lloyd's Market Association

ENDORSEMENT No 3

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

WAR AND TERRORISM EXCLUSION ENDORSEMENT

Notwithstanding any provision to the contrary within this insurance or any endorsement thereto it is agreedthat this insuranceexcludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any ofthe 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 proportionsof or amounting to an uprising, military or usurped power; or
(2)	any act of terrorism.
	Forthe purpose ofthis endorsement an act ofterrorism 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 ofor 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 ofthe public, in fear.

This endorsementalso 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, suppressingor in any way relatingto (1) and/or (2) above.

In the event any portion ofthis endorsement is found to be invalid or unenforceable, the remainder shall

remain in full force and effect.

NMA2918 (amended)

08/10/2001

ENDORSEMENT No 4

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

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 29 August 2013.

If the premium due under this contract has not been so paid to (Re)Insurers by 29 August 2013 (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 oftermination 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 ofthe notice period.

If any provision ofthis 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 ofthis clause which will remain in full force and effect.

30/09/08

LSW3001

WILLIS ADDENDUM TO PREMIUM PAYMENT CLAUSE LSW 3001

Notice of Cancellation in writing for the purposes of the Premium Payment Clause (LSW3001) shall be notice in writing to the Group's Compliance Officer at the Willis Building, 51 Lime Street, London EC3M 7DQ, and delivered by registered post or received and acknowledged personally by the Compliance Officer. The notice will only be accepted if the risk is properly identified, and includes at least the name ofthe Insured, the Willis slip reference number, the class of business and any other information which will enable the risk to be clearly identified. Further, for the avoidance of doubt, a notice of cancellation sent by e-mail to the Company shall not constitute notice in writing for the purposes of the application ofthe Premium Payment Clause (LSW3001).

ENDORSEMENT No 5

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

U.S.A.

NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-DIRECT

(BROAD)

For attachmentto insurances ofthefollowing classifications in the U.S.A., its Territories and Possessions, Puerto Rico and the Canal Zone:-Owners, Landlords and TenantsLiability, 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 GarageLiability), not being insurances ofthe classifications to which the Nuclear Incident ExclusionClause-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 insuredunderthe policy is also an insured under a nuclearenergy liability policy issued by Nuclear Energy Liability Insurance Association, Mutual Atomic Energy Liability Underwriters or Nuclear Insurance Association ofCanada, 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 nuclearmaterial and with respect to which (1) any person or organization is requiredto maintain financial protection pursuantto the Atomic Energy Act of 1954,or any law amendatorythereof, or (2) the insured is, or had this policy not been issued would be, entitledto indemnity from the United States of America, or any agency thereof, under any agreemententered into by the United States of America, or any agency thereof, with any person or organization.
II.	Under any Medical PaymentsCoverage, or underany 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	propertiesof nuclear material, if
	(a)	the nuclear material (1) is at any nuclear facility owned by, or operated by or on behalfof, 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 ofthe furnishingby an insured of services, materials, parts or equipment in connectionwith the planning, construction, maintenance, operation or use ofany 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 ofnuclear 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 ofthe 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 ofwaste, and includes the site on which any ofthe foregoing is located, all operationsconductedon 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,conditionsand limitations ofthe Policy to which it is attached.

fNOTE:- As respects policies which afford liabilitycoverages 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

ENDORSEMENT No 6

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

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 ofwhatsoever 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.

ENDORSEMENT No 7

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

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

It is agreed that in the event of the failure ofthe Underwriters hereon to pay any amount claimed to be due hereunder, the Underwriters hereon, at the request ofthe Assured (or Reinsured), will submit to the jurisdiction ofa Court of competent jurisdiction within the United States. Nothing in this Clause constitutes or should be understood to constitute a waiver ofUnderwriters' rights to commence an action in any Court ofcompetent jurisdiction in the United States, to remove an actionto 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 Mendes & Mount LLP, 750 Seventh Avenue, New York New York 10019-6829, United States of America and that in any suit instituted againstany one ofthem upon this contract,Underwriters will abide by the final decision of such Courtor of any AppellateCourt in the event of an appeal.

The above-named are authorized and directed to accept service of process on behalf ofUnderwriters in any such suit and/orupon the request ofthe Assured (or Reinsured)to give a written undertakingto the Assured (or Reinsured) that they will enter a general appearance upon Underwriters' behalfin the event

such a suit shall be instituted.

Further, pursuant to any statute ofany state,territory or district ofthe United States which makes provision therefor, Underwriters hereon herebydesignate the Superintendent, Commissioneror Director of Insurance or other officer specified for that purposein 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 behalfofthe Assured (or Reinsured) or any beneficiary hereunder arising out ofthis contract of insurance (orreinsurance), and hereby designate the above-named asthe person to whomthe said officer is authorized to mail such process oratruecopy thereof.

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

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

ENDORSEMENT No 8

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

NMA LINES CLAUSE

This Insurance, being signed for 100% ofUSD40,000,000 insures only that proportion of any loss, whether total or partial, including but not limited to that proportion of associatedexpenses, if any, to the extent and in the manner provided in this Insurance.

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

NMA 2419

ENDORSEMENT No 9

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

Any fraudulent claims clause contained within the Policy Wording shall override any fraudulent claims clause appearing on the Policy Jacket or its Schedule. In which case, any fraudulent claims clause appearing on such Policy Jacket or its Schedule is deleted.

ENDORSEMENT No 10

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

This contract shallbe governed by, and construed in accordance with, the laws ofthe State of Massachusetts ofthe United States of America as more fully set out in the contract wording.

Any dispute between the parties overthe terms ofthis contract shall be submitted to the exclusive jurisdiction ofthe Courts ofthe United States of America asmore fully set out in the NMA 1998 (24/4/86) Service of Suit Clause (U.S.A.) herein.

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

ENDORSEMENT No 11

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113017P13

Nothing in this contract shall be a condition precedent orwarranty unless it is expressly stated to be one

in this contract.

ENDORSEMENT No 12

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy N0.BO8OI 13017P13

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. Forthe purposes ofthis clause, Public Holiday shall mean any public or statutoryholiday in any territorythrough which the Premium must pass between the Insured and Insurers or their agents.

ENDORSEMENT No 13

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy N0.BO8OI 13017P13

This contract is subject to US State Surplus Lines requirements. It is the responsibility ofthe Surplus Lines Broker to affix a Surplus Lines Notice to the contractdocument before it is provided to the insured. In the event that the Surplus Lines Notice is not affixed to the contractdocument the insured should contact the Surplus Lines broker.

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	6270712/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
25.000	2488	AKFT6DLH5138
20.625	2003	BX4000399846
12.500	4000	09397	L13AB
13.125	1886	13BA210563KA
18.750	382	TRIAEA0063FX
10.000	1183	CFP109082D13
TOTAL LINE	No. OF SYNDICATES
100.000	6

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

EFFECTIVE FROM: 01 JUL 2013
BUREAU USE ONLY		Page	1 of	1
NUX5 72 11942	RISK CODE: 7T

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	62704 12/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
25.000	2488	AKFH6DLH5138
20.625	2003	BX7000399845
18.750	382	FBAHEA1499FX
12.500	4000	09397	L13AA
13.125	1886	13BA210563KA
10.000	1183	CFP109082D13
TOTAL LINE	No. OF SYNDICATES
100.000	6

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

EFFECTIVE FROM: 01 JUL 2013
BUREAU USE ONLY			Page	1 of	1
NUX5 72	11942	RISK CODE: BB

One Lime Street London EC3M 7HA

Lloyd's Policy

We, Underwriting Members of the Syndicates whose definitive numbers

and proportions are shown in the Table attached hereto (hereinafter referred to as 'the Underwriters'), hereby agree, in consideration of the payment to Us by or on behalf of the Assured of the Premium specified in the Schedule, to insure against loss, including but not limited to associated expenses specified herein, if any, to the extent and in the manner provided in this Policy.

The Underwriters hereby bind themselves severally and not jointly, each for

his own part and not one for another, and therefore each of the Underwriters (and his Executors and Administrators) shall be liable only for his own share of his Syndicate's proportion of any such Loss and of any such Expenses. The identity of each of the Underwriters and the amount of his share may be ascertained by the Assured or the Assured's representative on application to Lloyd's Policy Signing Office, quoting the Lloyd's Policy Signing Office number and date or reference shown in the Table.

If the Assured shall make any claim knowing the same to be false or fraudulent, as regards amount or otherwise, this Policy shall become void and all claim hereunder

shall be forfeited.

In WltneSS whereof the General Manager of Lloyd's Policy Signing Office has

signed this Policy on behalf of each of Us.

LLOYD'S POLICY SIGNING OFFICE
General Manager

If this policy (or any subsequent endorsement) has been produced to you in electronic form, the original document is stored on the Insurer's Market Repository to which your broker has access.

J(A) NMA2421 (3/1/95) Form approved by Lloyd's Market Association

WILLIS EXCESS FINANCIAL LINES POLICY

Please read this Policy carefully.

SCHEDULE
Policy Number: B080113011P13
Item 1:	Insured:	Fidelity Fixed Income and Asset Allocation Funds
	Principal Address:	c/o FMR LLC
		82 Devonshire Street F3D,
		Boston,
		Massachusetts 02109,
		United States of America
Item 2:	Insurer(s):	Lloyd's Syndicates:
ACE AGM 2488 and others
Item 3:	Period ofInsurance: 1 July 2013 to 1July 2014
		BothDaysat 00:01 local standard time at the Principal address
		shown at Item 1 above.
Item 4:	Limit ofLiability:	USD40,000,000 any one loss/claim and in the aggregatefor
		the period partof USD 70,000,000 any one loss/claim and in
the aggregate for the period
Item 5:	Underlying
	Policy(ies):	in excess of underlying contracts for
		USD 150,000,000 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 perNational Union Fire
		Insurance Company of Pittsburgh, PA
		Policy No: 04-406-40-33
			m^mmMk
Item 6:	Premium:			mUmm mlmmtMfr*
			mk {\t\ C~~T TC
		mm*	m*mm	tifiBft
	Taxes:	None
Item 7:	Notification(s) in accordance with clause 5 required to be
	addressed to:	Willis Limited,
		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:	Addressees for complaints:
	(a)	For Insurers who are Lloyd's Insurers:
		Policyholder and Market Assistance
		Lloyd's Market Services
		One Lime Street
		London
		EC3M 7HA
		United Kingdom.
		Telephone:	+	44	(0)207 327 5693
		Facsimile:	+	44	(0)207 327 5225
		Email:		Complaints@Llovds.com

(b)	For all other Insurers:
	Willis Limited will providedetails on request.

Dated in London: 13 August 2013

WILLIS EXCESS FINANCIAL LINES POLICY

In consideration ofthe Insured having paid or agreed to pay the Premium and subject to all ofthe definitions, terms, conditions and limitations ofthis 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 ofany matter for which specific provision is also made in the Primary Policy, in which case the express terms ofthis 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 ofthe Primary Policy.

1.2	Subject to the Limit ofLiability, the Insurers shall pay to or on behalf ofthe 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 ofany Side A/Difference in Conditions Policy or insurers ofthe Underlying Policy(ies) shall havepaid 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 paymentsthereunder in respect ofLoss.

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

"Insurers" shall mean the insurers ofthis Policy identified at Item 2 ofthe Schedule.

"LimitofLiability" shall mean the sum(s) shown at Item 4 ofthe 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 ofthe Schedule. For the avoidance of doubt, there shall be no reinstatement ofthe Limit ofLiability unless expressly provided for at Item 4, notwithstanding that the Primary Policy may provide for one or more reinstatements.

"Loss" shall mean all and any amounts for which Insurers are liable to the Insured pursuant to the terms and conditions ofthis Policy and, for the avoidance ofdoubt 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 ofwhatever nature and howsoever described by the Primary Policy. However, and notwithstanding any provision to the contrary in the Primary Policy, the liability ofthe Insurers ofthis

Policy to the Insured for costs and expenses of any kind whatsoever shall be partof, and not in addition to, the Limit ofLiability.

"PeriodofInsurance" shall mean the period set out at Item 3 ofthe Schedule.

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

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

"PrimaryLimits" shall mean the limits of liability ofthe Primary Policy applicableto any loss or liability (as applicable) as set out in Item 5(a) ofthe Schedule.

"Primary Policy" shall mean the policy identified at Item 5(a) ofthe Schedule or any policy(ies) issued

in substitution thereof.

"Relevant Provision" shall mean any provision of an Underlying Policy which reduces the limit of liabilityofthe Underlying Policy automatically by reference to the amount paid or payable under another policy of insurance, or by reference to the limit of liability underanother policy of insurance. Forthe 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 paidor payable underany other policy or policies, or which allows the insurer credit for the value ofother insurance or indemnification, or which requires the Insured to pursue such insurance or indemnification priorto claiming under the Underlying Policy (such as an"other insurance" or"non-contribution" or other similarprovision), shall

not be a Relevant Provision.

"Schedule" shall mean the schedule to this Policy.

"Sublimits)" 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 specifiesthatthe maximum liability ofthe insurer shall be less than the otherwise generally applicable limit of liability ofthe Primary Policy.

"Underlying Limit" shall mean the cumulative total ofthe limits of liabilityofthe insureds) ofthe Underlying Policy(ies) applicable to any lossor liability (as applicable) as set out in Item 5 ofthe

Schedule.

"Underlying Policy(ies)" shall meanthe policies listedat Item 5 ofthe Schedule.

3. Maintenance of the Underlying Policy(ies)

The Primary Policy, or any policies issued in substitution thereof, shallbe maintained in full force and effect duringthe Period ofInsurance save to the extent that it is eroded.This obligation shall ceaseto apply inthe eventthatthe Primary Policy is completely eroded. Clause 1.3 hereofshall apply for the purposes ofdetermining whether and to whatextenterosion has occurred. Where an Underlying Policy otherthan the Primary Policy does not continue in full force and effect (other than by reason oferosion) 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 ofclause 4 hereof.

4. Step-Down of Cover

Subject always to the Limit ofLiability:

4.1	In the event ofthe reduction ofthe amount of indemnity availableunder any Underlying Policy by reason of partial erosion ofthe UnderlyingLimit (and in determining the existence and extent of such erosion the provisions ofclause 1.3 shallapply) this Policy shall, subject to the Limit of Liability and to the other terms, conditions and limitations ofthis 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 ofthere being no indemnity available under the Underlying Policy(ies) by reason of the complete erosion ofthe 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 ofLiability and to the other terms, conditions and limitations of this Policy, continue for subsequent Loss as primaryinsurance 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 requiredto be given in accordance with the terms and conditions ofthe Primary Policy shall also be given to the Insurers in writing.

6.	Claims Participation
6.1	The Insurers shall have no liability to pay costs and expenses incurred by or on behalf ofthe 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 ofthe Insured for such a sum as will require payment by Insurers under this Policy unless the consent ofthe 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 respectofthe PrimaryPolicy or in respect ofany other of;the Underlying Policy(ies) shall not entitle the Insurers to terminate or cancel this Policy.

8. Recoveries

Where, following payment ofLoss by Insurers, recovery is effected, then such recovery, net ofthe expenses of its being effected, shall be distributed in the following orderto the following parties:

(i)	to the Insured or, to such extent, ifany, as appropriate, to any insurer of a policy applying excess ofthis Policy, but only to the extent (if any) by which such loss or liability (as applicable) exceeded the sum ofthe excess, deductible or retention ofthe 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 ofthe amount(s) paid by them hereunder in respect ofLoss; and,

(iii)      if any balance remains following the application of(i) and (ii) above, to those, if any, entitled pursuant to the operation ofthe UnderlyingPolicies to such extent, if any, ofthe entitlements

conferred thereunder; and

For the avoidance ofdoubt, 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 ofthe Primary Policy provide:

(i)	the Insured with a period of time immediately following the policy period ofthe Primary Policy during which notice may be given to the insurers ofthe Primary Policy ofany 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(ifany) payable in respectof 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 ofthe State of Massachusetts and any dispute arising hereundershall be subject to the exclusivejurisdiction ofthe courts ofU.S.A) 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 ofLloyd's underwriters: the person(s) identified in Item 10(a) ofthe Schedule.

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

In the event that the Insured remains dissatisfied it may be possible for the Insured's complaint to be referred to the Financial Ombudsman Service who may review the matter. The Financial Ombudsman Service address is:

Financial Ombudsman Service

South Quay Plaza 183 Marsh Wall London E14 9SR

Telephone: 0845 0801800
Email: enquiries@financial-ombudsman.org.uk

ENDORSEMENT No 1

This Endorsement, effective at 00.01 on 1 July 2013 forms part ofPolicy No. B080113011P13

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.

ENDORSEMENT No 2

This Endorsement, effective at 00.01 on 1 July 2013 forms partof Policy No. B080113011P13

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 ofthe "U.S. Terrorism Risk Insurance Act of2002" as amended as summarized in the disclosure notice.

In consideration ofan additional premium ofUSD 1,834 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 "actofterrorism" as defined in TRIA. The coverage provided by this Endorsement shall expire at 12.00midnight 31 December 2014, the date on which the TRIA Program is scheduledto terminate, or the expiry dateofthe policy whichever occurs first, and shall not cover any losses or events which ariseafter the earlierofthese 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 Endorsementonly affects the Terrorism exclusion to which this Insurance is subject. All other terms, conditions, insuredcoverage and exclusions ofthis Insurance including applicable limits and deductibles remain unchanged and apply in full force and effect to the coverage providedby this

Insurance.

Furthermore the Underwriters) will not be liable for any amounts for which they are not responsible underthe terms ofTRIA (including subsequentactionofCongress pursuant to the Act) due to the application of anyclause which results ina cap ontheUnderwriter's liability for payment for terrorism

losses.

21/12/2007

LMA5091
Form approved by Lloyd's Market Association

ENDORSEMENT No 3

This Endorsement, effective at 00.01 on 1 July 2013 forms partof Policy No. B080113011P13

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 naturedirectly or indirectly caused by, resulting from or in connectionwith any ofthe 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.
	Forthe purpose ofthis endorsement an act ofterrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, ofany 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/orto put the public, or any section ofthe 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 ofthis endorsementis found to be invalidor unenforceable, the remainder shall

remain in full force and effect.

NMA2918 (amended) 08/10/2001

ENDORSEMENT No 4

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113011P13

PREMIUMPAYMENTCLAUSE

Notwithstanding any provisionto the contrarywithinthis contractor any endorsementhereto, 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 29 August 2013.

Ifthe premium due under this contract has not been so paid to (Re)Insurers by 29 August 2013 (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)Insurerson 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 oftermination 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 ofcancellation to the (Re)Insured via the broker. If premium due is paid in full to (Re)Insurers before the notice period expires, notice ofcancellation shall automatically be revoked. If not, the contract shall automatically terminate at the end of the notice period.

If any provision ofthis 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

WILLIS ADDENDUM TO PREMIUM PAYMENT CLAUSE LSW 3001

Notice of Cancellation in writing for the purposes ofthe Premium Payment Clause (LSW3001) shall be notice in writing to the Group's Compliance Officer at the Willis Building, 51 Lime Street, London EC3M 7DQ, and delivered by registered post or received and acknowledged personally by the Compliance Officer. The notice will only be accepted if the risk is properly identified, and includes at least the name ofthe Insured, the Willis slip reference number, the class of business and any other information which will enable the risk to be clearly identified. Further, for the avoidance of doubt, a notice ofcancellation sent by e-mail to the Company shall not constitute notice in writing for the purposes of the application ofthe Premium Payment Clause (LSW3001).

ENDORSEMENT No 5

This Endorsement, effective at 00.01 on 1 July 2013 forms partof Policy No. B080113011P13

U.S.A.

NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-DIRECT

(BROAD)

For attachment to insurances ofthefollowing classifications in the U.S.A., its Territories and Possessions, Puerto Rico and the Canal Zone:-

Owners, Landlords and TenantsLiability, Contractual Liability, Elevator Liability, Owners or Contractors (includingrailroad) Protective Liability, Manufacturers and Contractors Liability, Product Liability, Professionaland Malpractice Liability, StorekeepersLiability, Garage Liability, Automobile Liability (including Massachusetts Motor Vehicle or Garage Liability), not being insurances ofthe classificationsto 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 NuclearEnergyLiability Insurance Association, Mutual Atomic Energy Liability Underwriters orNuclearInsurance Association ofCanada, 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 ofnuclear material and with respectto 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 insuredis, or hadthis policy not been issuedwould be, entitled to indemnity from the United StatesofAmerica, or any agency thereof, underany agreement enteredinto by the United States of America, or any agency thereof, with any person or organization.
II.	Underany Medical PaymentsCoverage, 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 nuclearmaterialand arising out ofthe
	operation	of a nuclear facility by any person or organization.
III.	Under any LiabilityCoverage, to injury, sickness, disease, death or destruction resulting from the
	hazardous	properties ofnuclear material, if
	(a)	the nuclearmaterial (1) is at any nuclear facility owned by, or operated by or on behalfof, 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 ofthe 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 ofAmerica, 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 byproductmaterial; "source material", "special nuclear material", and "byproduct material" have the meanings given them in the Atomic Energy Act 1954or in any law amendatorythereof; "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 ofany 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 ofthe 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 ofthe foregoing is located, all operations conducted on such site and all premises used for such operations; "nuclear reactor" means

any apparatus designed orused tosustain nuclear fission ina 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 ofradioactive 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 limitationsof 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

ENDORSEMENT No 6

This Endorsement, effective at 00.01 on 1 July 2013 forms part ofPolicy No. B080113011P13

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 ofwhatsoever 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.

ENDORSEMENT No 7

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113011P13

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

It is agreed that in the event ofthe failure ofthe Underwriters hereonto pay any amount claimed to be due hereunder,the Underwriters hereon, at the request ofthe Assured (or Reinsured), will submit to the jurisdiction ofa Courtofcompetent jurisdiction within the United States.Nothing in this Clause constitutes or should be understood to constitute a waiver ofUnderwriters' rights to commence an action in any Court ofcompetent 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 ofthe 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 Mendes & Mount LLP, 750 Seventh Avenue, New York New York 10019-6829, United States of America 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 ofUnderwriters in any such suit and/or upon the request ofthe 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 statuteof any state, territory or district ofthe 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 behalfofthe Assured (or Reinsured) or any beneficiary hereunder arising out ofthis 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.

ENDORSEMENT No 8

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113011P13

NMA LINES CLAUSE

This Insurance, being signed for 100%ofUSD40,000,000 insuresonly that proportion of any loss, whether total or partial, including but not limited to that proportion of associatedexpenses, ifany, to the extent and in the manner provided in this Insurance.

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

NMA 2419

ENDORSEMENT No 9

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113011P13

Any fraudulent claims clause contained within the Policy Wording shall override any fraudulent claims clause appearing on the Policy Jacket or its Schedule. In which case, any fraudulent claims clause appearingon such Policy Jacket or its Schedule is deleted.

ENDORSEMENT No 10

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113011 PI 3

This contract shall be governed by, and construed in accordance with, the laws ofthe State of Massachusetts ofthe United States of America as more fully set out in the contract wording.

Any dispute between the parties over the terms ofthis contract shallbe submitted to the exclusive jurisdiction ofthe Courts ofthe United States of America as more fully set out in the NMA 1998 (24/4/86) Service of Suit Clause (U.S.A.) herein.

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

ENDORSEMENT No 11

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy No. B080113011P13

Nothing in this contract shall be a condition precedent or warranty unless it is expressly stated to be one

in this contract.

ENDORSEMENT No 12

This Endorsement, effective at 00.01 on 1 July 2013 forms partof Policy N0.BO8OI 13011 PI3

Where any dateon which the Premium is due to be paid falls on a weekend or Public Holiday, presentation to Insurers or their agentson the next working day will be deemed to comply with the relevant premium paymentrequirement. For the purposes ofthis clause, Public Holiday shallmean any public or statutory holiday in any territory through which the Premium must pass between the Insured and Insurers or their agents.

ENDORSEMENT No 13

This Endorsement, effective at 00.01 on 1 July 2013 forms partof Policy N0.BO8OI 13011P13

This contract is subjectto US State Surplus Lines requirements. It is the responsibilityofthe Surplus Lines Broker to affix a Surplus Lines Notice to the contractdocument before it is provided to the insured. In the event that the Surplus Lines Notice is not affixed to the contract document the insured should contact the Surplus Lines broker.

ENDORSEMENT No 14

This Endorsement, effective at 00.01 on 1 July 2013 forms part of Policy N0.BO8OI 13011PI 3

TERIITORIAL LIMITS:

As per Primary Contract Wording

All other terms and conditions remain unaltered

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61463 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
18.75	382	FBAHEA0244KX
TOTAL LINE	No. OF SYNDICATES
18.75	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61466 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
10.00	1183	CFW109081D13
TOTAL LINE	No. OF SYNDICATES
10.00	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	6146717/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
13.125	1886	13BA210365NA
TOTAL LINE	No. OF SYNDICATES
13.125	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61469 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
25.00	2488	AKFH6DLL5004
TOTAL LINE	No. OF SYNDICATES
25.00	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61471 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
12.50	4000	00803	H13AA
TOTAL LINE	No. OF SYNDICATES
12.50	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policyfollows:

BUREAU REFERENCE	61481 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
20.625	2003	BX4000399849
TOTAL LINE	No. OF SYNDICATES
20.625	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61485 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
10.00	1183	CFW109081D13
TOTAL LINE	No. OF SYNDICATES
10.00	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	6148717/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
13.125	1886	13BA210365NA
TOTAL LINE	No. OF SYNDICATES
13.125	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61489 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
20.625	2003	BX7000399851
TOTAL LINE	No. OF SYNDICATES
20.625	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61493 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
18.75	382	TRIAEA0012KX
TOTAL LINE	No. OF SYNDICATES
18.75	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	6149517/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
25.00	2488	AKFT6DLL5004
TOTAL LINE	No. OF SYNDICATES
25.00	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT

The Table of Syndicates referred to on the face of this Policy follows:

BUREAU REFERENCE	61497 17/07/2013	BROKER NUMBER 0801
PROPORTION %	SYNDICATE	UNDERWRITER'S REFERENCE
12.50	4000	00803	H13AB
TOTAL LINE	No. OF SYNDICATES
12.50	1

THE LIST OF UNDERWRITING MEMBERS

OF LLOYD'S IS IN RESPECT OF 2013

YEAR OF ACCOUNT