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DocuSign Envelope ID: AAB342A1- 84D6- 4FD9- BC12- 585C2F446C71 <br />I1 <br />markets at competitive prices and terms. Some insurers pay Willis Towers Watson a fee for annual <br />reporting on their book of business. Some of these insurers also pay Willis Towers Watson an <br />additional fee for more detailed reporting on placements matched through the Wil1PLACE system. <br />Any insurer payments related to the WillPLACE system will not increase the cost of your insurance. <br />3.10 Willis Towers Watson may place your insurance with members of a panel of insurers. Willis <br />Towers Watson develops panels of insurers in certain market segments. Participating insurers are <br />reviewed on a variety of factors. Commission rates on panel placements may be higher than rates <br />paid on business placed outside of the panel process. Willis Towers Watson discloses its commission <br />rates to clients on quotes obtained through the panel process prior to binding the coverage. In some <br />instances, insurers pay an administration fee to participate in the panel process, or for additional <br />reporting. <br />3.11 This Paragraph intentionally left blank. <br />3.12 In some cases the use of a wholesale broker may be beneficial to you. We will not directly or <br />indirectly place or renew your insurance business through a wholesale broker unless we first disclose <br />to you in writing any compensation we or our corporate parents, subsidiaries or affiliates will receive <br />as a result. If wholesalers, underwriting managers or managing general agents have a role in <br />providing insurance products and services to you, they will also earn and retain compensation for <br />their role in providing those products and services. If any such parties are corporate parents, <br />subsidiaries or affiliates of ours, any compensation we or our corporate parents, subsidiaries or <br />affiliates will receive will be included in the total compensation we disclose to you. If such parties are <br />not affiliated with us, and if you desire more information regarding the compensation those parties <br />will receive, please contact us and we will assist you in obtaining this information. <br />3.13 In the ordinary course of business we may also receive and retain interest on premiums you <br />pay from the date we receive the funds until we pay them to the insurers or their intermediaries, or <br />until we return them to you after we receive such funds. <br />3.14 As an insurance intermediary, we normally act for you. However, we or our corporate <br />parents, subsidiaries or affiliates may provide services to insurers for some insurance products. These <br />services may include (a) acting as a managing general agent, program manager or in other similar <br />capacities which give us binding authority enabling us to accept business on their behalf and <br />immediately provide coverage for a risk; (b) arranging lineslips or similar facilities which enable an <br />insurer to bind business for itself and other insurers; or (c) managing lineslips for insurers. We may <br />place your insurance business under such a managing general agent's agreement, binding authority, <br />lineslip or similar facility when we reasonably consider that these match your insurance <br />requirements /instructions. When we intend to do so, we shall inform you and disclose the <br />compensation payable to Willis Towers Watson in connection with the placement of the insurance <br />coverage. <br />3.15 Some of our corporate parents, subsidiaries or affiliates may provide reinsurance brokerage <br />services to insurers with which your Coverages are placed pursuant to their separate agreements with <br />those insurers and may be compensated by the insurers for these services. <br />3.16 Subsidiaries of Willis North America Inc. are members of a major international group of <br />companies. In addition to the commissions received by us from insurers for placement of your <br />insurance coverages, other parties, such as excess and surplus lines brokers, wholesale brokers, <br />reinsurance intermediaries, underwriting managers and similar parties (some of which may be owned <br />in whole or in part by our corporate parents or affiliates), may earn and retain usual and customary <br />Short Form PC Fec Agreement 5 Jan 2016 <br />Page 4 of 6 <br />