EXHIBIT (99-2)
Directors and Officers (First) Liability Binder of Insurance
Fax Transmission
BINDER
[ACE BERMUDA LOGO] Corporate Officers & P.O. Box HM 1015
Directors Assurance Ltd. Hamilton HM DX
ACE Global Headquarters Bermuda
17 Woodbourne Avenue
ace bermuda Hamilton HM 08 441 295-5200 main
Bermuda www.acelimited.com
To: From:
Jerry Rivers/Pat Dill Patrick Tannock
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Company: Fax:
H&H Park International 441-292-2514
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Department: Tel:
441-299-9239
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Fax: Date:
295 4622 July 1, 2003
Tel: E-mail:
Re: Pages including cover:
Procter & Gamble 1
CORPORATE OFFICERS AND DIRECTORS ASSURANCE LTD. (CODA) IS PLEASED TO CONFIRM
PROVISIONALLY BINDING THE FOLLOWING:
POLICY PERIOD: June 30th, 2003 to June 30th, 2004
LIMIT OF LIABILITY: $25 million Primary
PREMIUM: $985,000
SPECIAL CONDITIONS:
1. Binding is subject to receipt of the appropriate premium on or before
Friday, July 4th, 2003. In the event the premium is not received by this
date, this binder is null and void ab initio.
2. The cover provided will be primary.
3. Cover will continue on policy form CODA Premier 01 ED 10/00.
4. Endorsements to be included in addition to as expiring:
- Discovery clause amended to unilateral 12 months @ 150% of annual
Premium.
5. Please note that for regulatory reasons all payments relating U.S. based
insureds must be transacted through a resident Bermuda broker.
Best Regards,
/s/ PATRICK TANNOCK
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Patrick Tannock