Document 3Q18qkJKVbdDXB00QDedgqOQn

GLD052289 0049-GLD-000052289 E.U 936377 __ . -EU 934314 Rtnwil No. DECLARATIONS - SPECIAL COVERAGE POLICY STOCK COMPANY FIRST STATE TNSURANCB COMPANY WILMINGTON, DELAWARE Admintsrrarrve Offices; 60 Baireryroarch Street, Boston. M#achoitti 02110 Named Insured and Moiling Address SCM CORPORATION ETAL. (See Endorsement #1) 299 Park Avenue New York, New York 10171 Item I. Policy Period; From January 1, 1984 To January 1, 1985 12:01 A.M., Standard Time at the address of the named Insured as stated herein. Item 2. Premium: Advance Premium: $ 10,000. Rote: Minimum Premium: $ 10,000. f If the Policy Period is more than one year and the premium is to be paid in installments, premium is payable on: Effective Date $ 1st Anniversary s 2nd Anniversary s Item 3. Coverage: Excess Umbrella Liability Item 4: Limits of Liability: The limit of the Company's liability shod be as stated herein, subject to oil the terms of this policy having reference thereto. As Per Form Attached Item 5. During the past three years no insurer.has cancelled insurance issued to the named in sured, similar to that afforded hereunder, unless otherwise stated herein. v&tiiivivit ^ Coley Co. Forms Attached: 12/29/83 wj A-7, A-3 . Countersigned . by : Date of Issue -::`P " -1- r-t^n GLD052290 0049-GLD-000052290 FIRST STATE INSURANCE COMPANY (A Stock Insurance Company, Herein Called the Company) EXCESS UMBRELLA POLICY INSURING AGREEMENTS 1. COVERAGE The Company hereby agrees, subject to the limitations, terms and conditions herein after mentioned, to indemnify the Insured for all sums which the Insured shall be obliged to pay by reason of the liability imposed upon the insured by law, or assumed under contract or agreement by the Named Insured for damages, direct or consequential and expenses on account of: (a) Personal injuries, including death at any time resulting therefrom, (b) Property Damage, (c) Advertising Liability, caused by or arising out of each occurrence happening anywhere in the world, and arising out of the hazards covered by and as defined in the Underlying Umbrella Policies stated below and issued by the "Underlying Umbrella insurer". UNDERLYING UMBRELLA INSURERS AND POLICY NUMBER: Harttord insurance Company Policy No. - To Be Advised 2. LIMIT OF LIABILITY - UNDERLYING LIMITS It is expressly agreed that liability shall attach to the Company only after the Unde lying Umbrella Insurers have paid or have been.held liable to pay the full amount of their respective ultimate net loss liability as follows: (a) $49,000,000. ultimate net loss in respect of each occurrence, but (b) $ 49,000,000. in the aggregate for each annual period during the currency of this Policy separately in respect of Products Liability and separately in respect of Personal Injury (fatal or non-fatal) by Occupational Disease sustained by any employees of the Assured and the Company shall then be liabile to pay only the excess thereof up to a further (c) $ 10,000,000. p/o 25,000,000. ultimate net loss in all in respect of each occurrence subject to a limit of (d) $ 10,000,000. p/o 25,000,000. in the aggregate for each annual period during the currency of this policy, separately in respect of Product Liability and separately in respect of Personal Injury (fatal or non-fatal) by Occupational Disease sustained by any employees of the Assured. 3. CANCELLATION c l a u s e It is hereby understood and agreed that the Cancellation clause under Condition 7 of the Policy is amended in part as follows: Reference to "ten days" is amended to read "thirty days". C-49-3 EU 936377 GLD052291 0049-GLD-000052291 1. NAMED INSURED: DEFINITIONS The words "Named Insured" includes The Named Insured stated in The Declarations forming a part hereof and/or subsidiary, associated, affiliated companies or owned and controlled companies as now or hereafter constituted and of which prompt notice has been given to the Company. 1 2. INSURED: The word "Insured" includes The Named Insured and/or any Officer, Director, Stockholder, Partner or Employee of The Named Insured, while acting in his capacity as such. CONDITIONS 1. PRIOR INSURANCE AND NON CUMULATION OF LIABILITY - 1 It is agreed that if any loss covered hereunder is also covered in whole or in part under any other excess Policy issued to the Insured prior to the inception date hereof the limit of liability hereon as stated in Insuring Agreements 2c and 2d shall be reduced by any amounts due to the Insured on account of such loss under such prior insurance. Subject to the foregoing paragraph and to all the other terms and conditions of this Policy in the event that personal injury or property damage arising out of an occurrence covered hereunder is continuing at the time of termination of this Policy the Company will continue to protect the Insured for liability in respect of such personal injury or property damage without payment of additional premium. 2. MAINTENANCE OF UNDERLYING UMBRELLA INSURANCE - This Policy is subject to the same terms, definitions, exclusions and conditions (except as regards the premium, the amount and limits of liability and except as otherwise provided herein) as are contained in or as may be added to the Underlying Umbrella Policies stated in Insuring Agreement 1 prior to the happening of an occurrence for which claim is made hereunder. It is a condition of this Policy that the Underlying Umbrella Policies shall be maintained in full effect during the currency hereof except for any reduction of the aggregate limits contained therein solely by payment of claims in respect of accidents and/or occurrences occurring during the period of this Policy or by the operation of Condition of the Underlying Umbrella Policies. 3. NOTICE OF OCCURRENCE - Whenever the Insured has information from which they may reasonably conclude that an occurrence covered hereunder involves injuries or damage which, in the event that the Insured shall be held liable, is likely to involve'this Policy, notice shall be sent to the Company at 60 Batterymarch Street, Boston, Massachusetts 02110 as soon as practicable, provided however, that failure to give notice of any occurrence which at the time of its happening did not appear to involve this Policy, but which, at a later date, would appear to give rise to claims hereunder, shall not prejudice such claims. 4. OTHER INSURANCE - If other valid and collectible insurance with any other Insurer is available to the Insured covering a loss also covered by this Policy, other than insurance that is in excess of the insurance afforded by this Policy, the insurance afforded by this Policy shall be in excess of and shall not contribute with such other insurance. GLD052292 0049-GLD-000052292 The following Service of Suit Clause is not to became effective unless or until the Insured has notified this Company in each specific claim of its intention to sue. Service of Suit Clause It is agreed that in the event of the failure of this Company to pay any amount claimed to be due hereunder, this Canpany, at the request of the Insured, will submit to the jurisdiction of any Court of Canpetent Jurisdiction within the United States and will comply with all requirements necessary to give such Court jurisdiction and all matters arising hereunder shall be determined in accordance with the law and practice of such Court. It is further agreed that service of process in such suit may be made upon the highest one in authority bearing the title "Corrmis-' sioner", "Director", or "Superintendent" of Insurance of the state or oatnonwealth wherein the property covered by this policy is located, and that in any suit instituted against it upon this contract this Company will abide by the final decision of such Court or any Appellate Court in the event of an appeal. The one in authority bearing the title "Commissioner", "Director", or "Superin tendent" of Insurance of the state or commonwealth wherein the property covered by this policy is located is hereby authorized and directed to accept service of process on behalf of this Company in any such suit and/or upon the Insured's request to give a written undertaking to the Insured that they will enter a general appearance upon this Company's behalf in the event such a suit shall be instituted. A-7 GLD052293 0049-GLD-000052293 It is hereby understood and agreed that the Cancellation clause under Condition 7 of the Policy is amended in part as follows: Reference to "thirty days" is amended to read "sixty days". A-3 GLD052294 0049-GLD-000052294 ENDORSEMENT #1 NAMED INSURED SCM CORPORATION, ALL SUBSIDIARIES AND SUBSIDIARIES OF THE SUBSI DIARIES, SCM FOUNDATION, ANY OTHER COMPANY OF WHICH IT ASSUMES ACTIVE MANAGEMENT AND ANY EMPLOYER-SPONSORED EMPLOYEE ASSOCIATION OR CLUBS OF THE NAMED INSURED AND SYLVACHEM CORPORATION, JOTUN MARINE COATINGS AND COMPANIA ENVASADORA LORETO S.A. AS JOINT VENTURES. This endorsement to take effect on the 1st day of January, 1984. All other items and conditions remain unchanged. Attached to and forming part of Policy No. EU 936377 of FIRST STATE INSURANCE COMPANY. Issued to: SCM CORPORATION, ETAL. GLD052295 0049-GLD-000052295 ENDORSEMENT #2 Broad As Underlying Umbrella It is understood and agreed that except only with respect to policy period, premium and limit of liability, this policy is hereby amended to follow all the terms, conditions, definitions and exclusions of the first layer Umbrella (Insurer: Hartford, Policy No. TBA) and any endorsements attached thereto, and all renewals and replacements. It is further agreed that all preprinted terms and conditions hereon are deleted to the extent that they vary from or are inconsistent with the terms and conditions of the first layer Hartford Umbrella. i i This endorsement to take effect on the 1st day of January, 1984. All other items and conditions remain unchanged. Attached to and forming part of Policy No. EU 936377 of FIRST STATE INSURANCE COMPANY. Issued to: SCM CORPORATION, ETAL. GLD052296 0049-GLD-000052296