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POWER OF ATTORNEY FOR THIRD PARTY INVESTMENT MANAGER

Account Name: Account Number: The account signatories of the above mentioned (hereinafter referred to as the “Account Holder”) hereby grants the person(s) or company named below (Third Party Investment Manager, hereinafter referred to as the “Investment Manager”)

Name: Company: Date of birth/foundation: Nationality/domicile: Address/country: Type of signature:

single

joint by

To act as an asset manager independent of Capital Security Bank Limited (hereinafter referred to as the “Bank”) and, in its capacity in accordance with the Bank’s Terms and Conditions, Section 8 Investment Account – Additional Terms, is neither an employee nor an agent of the Bank, but acts purely as a power of attorney in its relations with the Bank insofar as any transaction relating to the management of the Account Holders assets deposited with the Bank is concerned, including (but not limited to) the following: the purchase and sale of securities and book remittance securities of any kind, without restriction in respect of their marketability, origin, legal construction and control relationship; reinvestments; new investments; collections and conversions; the exercise and sale of subscription rights, securities lending, foreign exchange and precious metal transactions and fixed-term deposits in the Cook Islands and on a fiduciary basis outside the Cook Islands, and forward transactions. The Investment Manager is empowered to sign on behalf of the Account Holder any transaction requests against the Account Holders account as necessary to complete said asset management transactions within the Account Holder’s account, and in accordance the Bank’s Terms and Conditions, Section 8 Investment Account – Additional Terms the Account Holder acknowledges that the Bank may not be held liable for the investments made thereunder.

Signature of the Account Holder:

General Conditions The Investment Manager is not authorized to withdraw, either in whole or in part, securities or other assets in the Account Holders account. This restriction does not concern sums due to the Investment Manager in respect of management fees, which the Investment Manager is authorized to debit from the account of the Account Holder against a receipt of the statement of fees and charges provided to the Bank. The Investment Manager`s signature and any of its declarations, actions and/or measures empowered within the limits of this power of attorney are binding on the Account Holder. The obligations of the Bank are discharged insofar as it executes an instruction from an Investment Manager which is within the scope of the authority agreed to under this power of attorney. As a result of the granting of this power of attorney to the Investment Manager, the Bank is released from any duty to control, advise, explain or admonish in respect of the management of assets by the Investment Manager or in respect of individual investment management actions or omissions. In accordance with the Bank’s Terms and Conditions, Section 8 Investment Account – Additional Terms the Bank bears no responsibility or liability for the investment decisions of the Investment Manager.


The Account Holder expressly agrees that the Bank is not required to inform the Investment Manager about the risks connected with specific types of transactions, and the risks associated with the use of electronic media, and that it is the responsibility of the Investment Manager to inform the Account Holder of the relevant risks. The Account Holder hereby acknowledges that it has been informed by the Investment Manager concerning the special risks associated with specific types of transactions, in particular in connection with securities transactions and the Account Holder releases the Bank of any responsibility for informing it of these risks. Furthermore, the Investment Manager confirms it is aware about the above-mentioned risks and has informed the Account Holder about them. The Account Holder authorizes the Bank to provide the Investment Manager with any information necessary for the Investment Manager to exercise the present mandate; in this respect, the Account Holder expressly waives the Bank’s secrecy and confidentiality duties and fully discharges the Bank from any liability in this regard. The Account Holder notes that the Bank grants, or is free to grant, the Investment Manager volume discounts for the client business that he generates, and that it is the responsibility of the Investment Manager to disclose such volume discounts, as the case may be. It is explicitly understood that In accordance with the Bank’s Terms and Conditions, Section 8 Investment Account – Additional Terms this power of attorney shall not expire upon the liquidation, dissolution or death of the Account Holder, the loss of exercise of the Account Holder’s legal rights, or the Account Holder being adjudicated absent, insolvent or bankrupt. This power of attorney for Third Party Investment Manager’s replaces all previous Powers of attorney for investment management/for external asset managers and all previous Asset management agreements as well as Advisory agreements granted to the Bank. The Account Holder acknowledges that the contracts concluded and transactions executed on the basis of this power of attorney are subject to the Terms and Conditions of the Bank and to all other additional terms issued by the Bank. This power of attorney shall be governed by Cook Islands law. The Account Holder and the Investment Manager submit to the exclusive jurisdiction of the courts in the Cook Islands or at the place in the Cook Islands where the Bank with which the contractual relationship exists is located. The Bank shall also be entitled to bring suit against the Account Holder or the Investment Manager before any other competent court.

Place and date: Signature of the Account Holder: Place and date: Signature of the Investment Manager:

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CSB POA Third Party Managers  

CSB POA Third Party Managers  

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