Document 65p0gKm7ezKxX4dyoL4gDObQ3

N21314 1 I MX h- x ^1 00 M I--* I u> ^ to M 00 \ UJ 00 to ,1 a * * GLD051757 0049-GLD-000051757 GLD051758 0049-GLD-000051758 %tr+***tr* **4-*\sr*~-** S (Continued irom Preceding Page) ing as excess over various policies of primary insurance) with combined limits oi liability for said underlying insurance stated in Item 4 of the declarations, or renewals or replacements thereof not affording coverages other than those at inception of this policy, shall be maintained in full effect during the period of this policy, except for reduction of aggregate limits solely as a result of pay ment of claims arising out of occurrences during this policy period. I) such underlying insurance is not maintained in full effect by the Insured or if there is any change in the scope of coverage under any underlying insurance, the insurance afforded by this policy shall apply in the same manner as though such underlying policies had been so maintained and unchanged. The insurance aflorded by this policy is subject to the same war ranties, terms (including the terms used to describe the application oi the limits oi liability), conditions and exclusions as are contained in the underlying insurance on the effective date of this policy, except, ttnless otherwise specifically provided in this policy, any such warranties, termB, conditions or exclusions relating to premium, the obligation to investigate and defend, the amount and limits of liability, and any renewal agreement. 2. Notice oi Oecuxance. The Insured shall immediately advise the Company of any occurrence or disaster which will probably result in liability under this policy. The Company shall not, how ever, be called upon lo assume charge of the settlement or defense of any claims made, or suits brought, or proceedings instituted against the Insured, but shall have the right and opportunity to be associated with the Insured in the defense and trial of any such claims, suits or proceedings relative to any occurrence which, in the opinion of the Company, may create liability on the part of the Company under the terms of the policy. If the Company avails itself oi such right and opportunity, the Insured and the Company shall cooperate in all respects so as to effect a final determination of the claim or claims. 3. Payment of toss, it is a condition of this policy that the insurance afforded under this policy shall apply only alter all underlying insurance has been exhausted. Upon final determination by settle ment. award or verdict of the liability of the Insured, the Company shall promptly pay the Insured as the Insured shall pay. or be required to pay, the amounts oi any losses falling within the terms or limits of this insurance. Alt losses covered under this policy shall be due and payable by the Company within 30 days after they are respectively claimed and proof oi loss filed with the Com pany in conformity with this policy. Bankruptcy or insolvency of the insured shall not relieve the Company of any oi its obligations hereunder. 4. Payment of Expenses. Loss expenses and legat expenses, includ ing court costs and interest, if any. which may be incurred by the Insured with ihe consent of the Company in the adjustment or defense of claims, suits or proceedings shall be borne by the Com pany and the Insured in the proportion that each party's share of loss bears to the total amount of said toss. Loss expense hereunder shall not include salaries and expense oi the Insured's employees incurred in investigation, adjustment and litigation. 5. Appeal. In the event the Insured or any underlying insurer elects not to appeal a judgment in excess of the amount of the underlying insurance, the Company may elect to appeal at its expense and shall be liable for the expenses incidental thereto, but in no event shall the liability oi the Company for ultimate net loss exceed the amount set forth in the policy plus the expenses incidental to such appeal. 6. Subrogation. !n the event oi any payment of this policy, the Company shall be subrogated to all the Insured's rights of recovery therefor against any person or organization and the Insured shall execute and deliver instruments and papers and do whatever else is necessary to secure such rights. The Insured shall do nothing after loss to prejudice such rights. Any amount recovered as subrogation shall be apportioned in the inverse order of payment of loss to the extent of actual payment. The expenses of all such recovery proceedings shall be apportioned in the ratio of respective recoveries. If there is no recovery in proceedings conducted solely by the Company, the Company shall bear the expenses thereof. 7. Premium. The premium for this policy shall be computed upon the basis stated in the Declarations. The advance premium stated in the Declarations, unless otherwise specified is an estimated premium only. Upon termination of this policy the earned premium shaft be computed and if the earned premium is more than the advance premium paid, the Mamed Insured shall pay the excess to the Company; if less, the Company shall return to the Mamed Insured the unearned portion, subject to the annual minimum premium stated in the Declarations lor each twelve months of the policy period, and subject further to the policy minimum premium as stated in the Declarations. 8. Cancellation. This policy may be cancelled by either party upon 30 days' notice in writing to the other staling the date cancellation shall be effective, li cancellation is at the request of the Insured, adjustment of premium shcdl be at 3hort rate, and i! cancelled by the Company, adjustment shall be made pro rata However, in the event of cancellation or termination of the underlying insurance, this policy shall cease to apply at the same time without notice to the Insured. Notice shall be given by the Company to the Insured at the address shown in the declarations. Payment or tender of unearned premium is not a condition of cancellation. NUCLEAR ENERGY LIABILITY EXCLUSION ENDORSEMENT (BROAD FORM) It is agreed that the policy does not apply; L Under any Liability Coverage, to in|ury. sickness, disease, death or destruction (a) with respect to which an insured under ihe policy is also an insured under a nuclear energy liability policy issued by Nuclear Energy Liability Insurance Association. Mutual Atomic Energy lia bility Underwriters or Nuclear Insurance Association of Canada, or would be an insured under any such policy but for its termination upon exhaustion of its limit of liability; or (b) resulting from the hazardous properties of nuclear material and with respect to which (I) any person or organization is required to maintain financial protection pursuant to the Atomic Energy Act of 1954, or any law amendatory thereof, or (2) the insured is, or had this policy not been issued would be, entitled to indemnity from the United States of America, or any agency thereof, under any agreement entered into by the United States of America, or any agency thereof, with any person or organization. H. Under any Liability Coverage, to injury, sickness, disease, death or destruction resulting from the hazardous properties of nuclear material, if (a) the nuclear material (1) is at any nuclear facility owned by. or operated by or on behalf of, an insured or (2) has been dis charged or dispersed therefrom; (b) the, nuclear material is contained in spent fuel or waste at any time possessed, handled, used, processed, stored, transported ar disposed of by or on behalf ol an insured; or (c) the injury, sickness, disease, death or destruction arises out of the furnishing by an insured of services, materials, parts or equip ment in connection with the planning, construction, maintenance, operation or use of any nuclear facility, but it such facility is located within ihe United States ol America, its territories or possessions or Canada, this exclusion (c) applies only to injury to or destruction of property at such nuclear facility. IIL As used in this endorsement: "hazardous properties'' include radioactive, toxic or explosive properties; "nuclear material" means source material, special nuclear material or byproduct material; "source material." "special nuclear material," and "byproduct ma terial" have the meanings given them in ihe Atomic Energy Act of 19S4 or in any law amendatory thereof; "spent fuel" means and fuel element or fuel component, solid or liquid, which has been used or exposed to radiation in a nuclear reactor; "waste" means any waste material (1) containing byproduct ma terial and (2) resulting from the operation by any person or organization of any nuclear facility included within the defination of nuclear facility under paragraph (a) or (b) thereof; "nuclear facility" means (a) any nuclear reactor, * (b) any equipment or device designed or used for (1) separating GLD051759 0049-GLD-000051759 r*.3I TWO (Continued on Sxl Pag*) * {Continued from Preceding Page) the isotopes ol uranium or plutonium. (2) processing or utilizing spent iuel. or (3) handling, processing or packaging waste, tc) any equipment or device used for the processing, fabricating or alloying ol special nuclear material If at any time the toted amount oi such material in the custody ol the Insured at the premises where such equipment or device is located consists of or contains more than 25 grams oi plutonium or uranium 233 cr any combination thereof, or more than 250 grams of uranium 235, (d) any structure, basin, excavation, premises or place prepared cr used for the storage or disposal of waste, and includes the site on which any oi the loregoing is located, all operations conducted on such site and all premises used for such operations; "nuclear reactor" means any apparatus designed or used to sus tain nuclear iission tn a sell-supporting chain reaction or to contain a critical mass of fissionable material; With respect to injury to or destruction of property, the word "injury' or "destruction" includes all forms of radioactive con tamination of property. IN WITNESS WHEREOF. FIREMAN'S FUND INSURANCE COMPANY has caused this Policy to be signed by its President and Secretary but this Policy shall not be valid unless countersigned by a duly authorized Agent of the Company. (LuJtr J&etlCTAftY PINAL PAGE GLD051760 0049-G LD-000051760 NAMED INSURED #1 A) SCM Corporation, all Subsidiaries and Subsidiaries of the Subsidiaries, SCM Foundation, any other Company of which it assumes active management, any employee sponsored association or clubs of the named insured. B) Jotun ~ Baltimore Copper Paint Company A Joint Venture, however, such coverage as is provided for the interest of Glidden - Durkee Division of SCM Corporation and A.F. Jotungruppen of Norway in the joint venture above is restricted to such coverage as is available to the insured under the primary insurance stated in the schedule of underlying insurance attached to this policy. C) Sylvachem Corporation, A Joint Venture, however, such coverage as la provided for the interest of Glidden-Durkee Division of SCM Corporation and St. Regis Paper Corporation in the joint venture above is restricted to such coverage as is available to the insured under primary insurance stated in the schedule of underlying insurances attached to this policy. J POLICY NUMBER XLX-143 7283 INSURED SCM Corporation EFFECTIVE 1/1/81 ONE OP THE FIREMAN'S FUND INSURANCE COMPANIES AS NAMEO IN THE POLICY PRODUCER COUNTERSIGNATURE OF AUTHORIZED AGENT V 180001--1-65 SETS PRESIDENT lOX if t 1 m O-f h f* GLD051761 0049-G LD-000051761 Endorsement #2 It Is hereby understood and agreed that Item #8, Cancellation is amended to read: Sixty (60) days notice in lieu of Thirty (30) days. POLICY NUMBER XLX-143 72 83 INSURED SCM Corporation ONE CP THE FIREMAN'S FUND INSURANCE COMPANIES AS NAMED IN THE POLICY V 180009--6*65 SETS /$A4, PRESIDENT ` 1i J 1/1/81 Cc Oo UuNnTt Ier s ig n a t u r e o p a u t h o r iz e d a g e n t if GDD051762 0049-G LD-000051762 #3 It is understood end agreed that Policy No. 10 BO 463646 excludes Automobile Liability coverage for leased vehicle or leased back vehicles when being used for personal use by employees and employee's families or other driving with their permission. POLICY NUMBER INSURED EFFECTIVE XLX 143 72 83 SCM Corporation 1/1/81 ONE OF THE FIREMANS FUND INSURANCE COMPANIES AS NAMED IN THE POLICY PRODUdsfl -i A COUNTERSIGNATURE OP AUTHORIZED AGENT Q 160009-6-65 SETS PRESI06NT to-x A' GLD051763 0049-GLD-000051763 Endorsement # 4 As respects to Endorsement # 3, it is agreed that the Policy Number shall read as follows: Policy No. 10HU468411 in lieu of Policy No. 10HU463646 POLICY NUMBER XLX 143 72 83 INSURED SCM CORPORATION ONE OF THE FIREMAN'S FUND INSURANCE COMPANIES ^P?tyrurK) 0 PRESIDENT KJ-X ^ i EFFECTIVE 1/1/81 PRODUCER MARSH & MC LENNAN INC. COUNTERSIGNATURE OF AUTHORIZED AGENT -/ GLD051764 0049-GLD-000051764