Bane: You always go last in initiative order. You cannot take Improved Initiative. If multiple creatures with Overly Cautious are in the same encounter, they roll initiative only to determine what order they go in after all other characters have gone each round.
Section 15: Copyright Notice
Christina Stiles Presents Ultimate Options – Minor and Major Drawbacks, © 2013, Christina Stiles; Authors Christina Stiles, Robert Hudson, Jr., and Mike Welham