Document GpVEx0oLXXz5k7Xe2dnR1e87

GERLING-KONZERN GENERAL INSURANCE COMPANY UK BRANCH Manager: Gerling Insurance Service Company Ltd 50 Fenchurch Street London EC3M3JY Tel: 071 696 8099 Fax: 071 696 8119/8120 Telex: 883438 GLOBAL UMBRELLA LIABILITY INSURANCE In consideration of the Insured having paid or agreed to pay the premium the Gerling Konzern General Insurance Company - UK Branch (the Company) will provide the insurance detailed in this Policy subject to the terms exceptions limits and conditions 'the Proposal or any information supplied by the Insured in connection with this insurance shall be incorporated in the contract Date 2 July 1993 Gerling Konzern General Insurance Company - UK Branch Important Notice to the Insured Please read this policy carefully to ensure that it is in accordance with your requirements and that you understand its terms and conditions. The Company should be contacted immediately If any correction is necessary 62/97411/D Page! or27 Hanson Pie * wyu yti mw*r,jvr r Policy Number: Insured: Address: Business: Policy Territory: Period of Insurance: Limit of Indemnity: Aggregate limit of Indemnity: POLICY SCHEDULE 62/97411/D Hanson He and all Subsidiary and/or Associated Companies 1 Grosvenor Place London SW1X7JH All activities which the Insured is legally empowered to undertake this Policy applies to Personal Injury Property Damage or Advertising liability occurring anywhere in the world (a) From 1st October 1991 to 30th September 1992 both days inclusive (b) Any subsequent period with effect from 1st October 1992 for which the Insured and the Company shall have agreed to renew this policy (a) US$10,000,000 any one Occurrence (b) US$10,000,000 in any one Period of Insurance in respect of liability arising from the Products Hazard and the Completed Operations Hazard US$10,000,000 in any one Period of Insurance Deductible: US$25,000 any one Occurrence First Premium; US$885,000 in full 62/97411/D Page 2 of 27 Hanson Pie GLD056670 0049-GLD-000056670 INSURING AGREEMENTS I COVERAGE To indemnify the Insured for that portion of the Ultimate Net Loss in excess of the retained limit as hereinafter defined which the Insured shall become legally obligated to pay as damages for liability imposed on the Insured by law or liability assumed by the Insured under contract because of (i) Personal Injury or (ii) Property Damage or (iil) Advertising liability as defined herein caused by an Occurrence during the currency of this Policy within the Polity Territory in connection with the Business II DEFENSE SETTLEMENT SUPPLEMENTARY PAYMENTS (The provisions of this Insuring Agreement apply solely to Occurrences covered under this polity but not covered by any underlying policies listed in the Schedule of Underlying Insurance or any other underlying insurance providing coverage to the Insured This Insuring Agreement shall also apply to Occurrences not covered by any underlying insurance due to exhaustion of any aggregate limits by reason of any losses paid thereunder) The Company shall (a) defend any suit against the Insured alleging liability insured under the provisions of this policy and seeking recovery for damages on account thereof even if such suit is groundless false or fraudulent but the Company shall have the right to make such investigation and and negotiation and settlement of any claim or suit as may be deemed expedient by the Company (b) pay all premiums on bonds to release attachments for an amount not in excess of the applicable Limit of Indemnity of this polity all premiums on appeal bonds required in any such defended suit but without any obligation to apply for or furnish such bonds all costs taxed against the Insured in any such suit all expenses incurred by the Company and all interest accruing after entry of judgment until the Company has paid tendered or deposited in court that part of the judgment as does not exceed the Limit of Indemnity thereon (c) reimburse the Insured for all reasonable expenses incurred at the Companys request (including actual loss of wages or salary but not loss of other income not to exceed $75 per day) because of the Insureds attendance at hearings or trials at such request 62/97411/D Page 3 of 27 Hanson Pic GLD056671 0049-GLD-000056671 The Company agrees to pay the amounts incurred under this Insuring Agreement II except in settlement of claims and suits in addition to the Limit of Indemnity stated in the Policy Schedule and such Defense and Supplementary Payments shall not be included as part of the Ultimate Net Loss as defined in the policy The Insured shall promptly reimburse the Company (excepting Defense Costs) for any amount of Ultimate Net Loss paid on behalf of the Insured within the Deductible specified in the Policy Schedule Insuring Agreement I and Q shall cease to apply after the applicable Limit of Indemnity has been exhausted by payment ofjudgments or settlements 62/97411/D Page 4 of 27 Hanson Pk GLD056672 0049-GLD-000056672 LIMIT OF INDEMNITY - RETAINED LIMIT (A) The Company shall be liable only for that portion of the Ultimate Net Loss excess of the Insureds Retained Limit defined as either; (1) the total of the applicable limits of the underlying policies listed in the Schedule of Underlying Insurance hereof and the applicable limits of any other underlying insurance providing coverage to the Insured or (2) the Deductible stated in the Policy Schedule as a result of any one Occurrence not covered by such underlying policies or insurance and then up to an amount not exceeding the Limit of Indemnity stated in the Policy Schedule as the result of any one Occurrence (B) In the event of reduction or exhaustion of the aggregate Limit of Indemnity under said underlying insurance by reason of losses paid thereunder during this Period of Insurance this policy shall subject to its terms and conditions and the Limit of Indemnity stated in the Policy Schedule (1) in the event of reductions pay excess of the reduced underlying Insurance or (2) in the event of exhaustion of the limits of indemnity continue in force as underlying insurance (C) There is no limit to the number of Occurrences during the Period of Insurance for which claims may be made except that the Companys total Limit of Indemnity arising out of the Products Hazard or the Completed Operations Hazard or both combined shall not exceed the limit of Indemnity stated in the Policy Schedule as respect all Occurrences during each Period of Insurance commencing with the effective or anniversary date of this policy In those cases where the underlying insurance listed in the Schedule of Underlying Insurance Policies contains coverage(s) which are subject to an Aggregate Limit of Liability for all insured damages the Company's liability shall likewise be limited to the Aggregate Limit of Indemnity stated in the Policy Schedule with respect to all Occurrences during each Period of Insurance while this period is in force commencing from its effective date The Aggregate Limit of Indemnity stated in the Policy Schedule shall apply separately to each underlying insurance coverage which carries an aggregate limit in the policy of underlying insurance (D) For the purpose of determining the Limit of Indemnity all Personal Injuiy and Property Damage arising out of continuous or repeated exposure to substantially the same general conditions shall be considered as arising out of one Occurrence With respect to Advertising Liability all damages involving the same injurious material or act regardless of the frequency or repetition thereof the number and kind of media used and the number of claimants shall be deemed to arise out of one Occurrence 62/97411/D Page 5 of 27 Hanson Pic GLD056673 0049-GLD-000056673 EXCLUSIONS This Policy shall not apply (A) to any obligation for which the Insured or any carrier as his insurer may be held liable under any Workers Compensation Unemployment Compensation or Disability Benefits Law or under any similar law (B) to any obligation which the Insured may be liable under no fault benefits or uninsured motorists law (C) to the loss of use of tangible property which has not been physically injured or destroyed resulting from (i) a delay in or lack of performance by or on behalf of the Insured of any contract or agreement or (ii) the failure of the Insureds Products or work performed by or on behalf of the Insured to meet the level of performance quality fitness or durability warranted or represented by the Insured but this exclusion does not apply to loss of use of other tangible property resulting from the sudden and accidental physical injury to or destruction of the Insureds Products or work performed by or on behalf of the Insured after such products or work have been put to use by any person or organization other than an Insured (D) To Property Damage to (i) the Insured Products arising out of such products or any part of such products (ii) work performed by or on behalf of the Insured arising out of the work or any portion thereof or out of material parts or equipment furnished in connection therewith (iil) property belonging to the Insured or held in trust by or borrowed rented leased or hired for use by the Insured but this exclusion shall not apply to (a) the personal effects (including vehicles and their contents) of directors employees and visitors (b) buildings oi their contents temporarily occupied by the Insured for the purpose of carrying outwork therein or thereon (c) premises (or fixtures and fittings therein) hired rented leased or lent to the Insured providing always that no indemnity shall be provided in respect of such loss or damage if the liability is assumed by the Insured under a tenancy or other agreement and would not have attached in the absence of such agreement (Iv) aircraft or watercraft rented to used by or in the care custody or control of the Insured 62/97411/D Page 6 at 27 Hanson Pic GLD056674 0049-GLD-000056674 (E) to damages claimed for the withdrawal inspection repair replacement or loss of use of the Insureds Products or work completed by or for the Insured or of any property of which such products or work form a part if such products work or property are withdrawn from the market or from use by anyone because of any known or suspected defect or deficiency therein (F) to Personal Injury or Property Damage arising out of the ownership maintenance operation use loading or unloading of (i) any watercraft (ii) any aircraft owned by the Insured or rented to the Insured (G) (a) under Coverages l(i) and l(ii) to Personal Injury or Property Damage (i) with respect to which an Insured under the policy is also an Insured under a nuclear energy liability policy issued by Nuclear Energy Liability-Property Insurance Association, Mutual Atomic Energy liability 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 (ii) resulting from the hazardous properties of nuclear material and with respect to which (1) any person or organization is required to maintain financial protection pursuant to the Atomic Energy Act of 3954 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 (b) under any Medical Payments Coverage or under any Supplementary Payments provision relating to immediate medical or surgical relief for expenses incurred with respect to bodily injury sickness disease or death resulting from hazardous properties of nuclear material and arising out of the operation of a nuclear facility by any person or organization (c) under any liability Coverage to Personal Injury or Property Damage resulting from the hazardous properties of nuclear material if (i) the nuclear material (1) is at any nuclear facility owned by or operated by or on behalf of an insured or (2) has been discharged or dispensed therefrom (ii) the nuclear material in contained in spent fuel or waste at any time possessed handled used processed stored transported or disposed of by or on behalf of an Insured or 62/97411/D Page 7 of27 Hanson Pic GLD056675 0049-GLD-000056675 (lii) the Personal Injuiy or Property Damages arises out of the furnishing by an Insured of services materials parts or equipment in connection with the planning construction maintenance operating or use of any nuclear facility but if such facility is located within the United States of America its territories or possessions of Canada this exclusion (lii) applies only to injuiy to or destruction of property at such nuclear facility (d) as used in this policy "hazardous properties" include radioactive toxic or explosive properties "nuclear material" means source material special nuclear material or by-product material "source material" "special nuclear material" and 'by-product material" have meanings given them in the Atomic Energy Act of 1954 or in any law amendatory thereof "spent fiiel" means any 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 by-product material and (2) resulting from the operation by any person or organization of any nuclear facility included within the definition of nuclear facility under paragraph (i) or (ii) thereof "Nuclear Facility" means (!) any nuclear reactor (ii) any equipment or device designed or used for (1) separating the isotopes or uranium or plutonium (2) processing or utilizing spent fuel or (3) handling processing or packaging wastes (iii) any equipment or device used for the processing fabricating or alloying of the special nuclear material if at any time the total amount of such material in the custody of the Insured at the premises where such equipment or device is located consists of or contains more than 25 grams of plutonium or uranium 233 or any combination thereof or more than 250 grams of uranium 235 (iv) any structure basin excavation premises or place prepared or used for storage or disposal of waste and includes the site on which any of the foregoing is located all operations conducted on such site and all premises used for such operations 62/97411/D Page 3 of 27 Hanson Pic GLD056676 0049-GLD-000056676 "Nuclear Reactor" means any apparatus designed or used to sustain nuclear fission in a self-supporting chain reaction or to contain a critical mass of fissionable material - 'Property Damage" includes all forms or radioactive contamination of property (H) to any consequence whether direct or indirect of war invasion act of foreign enemy hostilities (whether war be declared or not) civil war rebellion revolution insurrection or military or usurped power (I) under Advertising liability to claims made against the Insured (i) for failure ofperformance of contract (ii) for infringement oftrade-mark or trade name (lit) for inconect description of any article or commodity (iv) for mistake in advertised prices (J) legal liability arising from advice design or specification provided for a fee by the Insured and not connected with the supply or intended supply of the Insureds Products but this Exception does not apply to the rendering of or the failure to render professional medical advice treatment or service at or in the vicinity of the Insured's premises by Medical Persons employed by the Insured but only in circumstances where emergency medical treatment is required following an accident sudden illness or the like <K) (i) (1) to Personal Injury or Property Damage directly or indirectly caused by seepage pollution or contamination (2) to the cost of removing nullifying or cleaning up seeping polluting or contaminating substances (3) fines penalties punitive or exemplary damages arising therefrom in respect of any claim judgement award or settlement made in any country or territory which operates under the laws of the United States of America or Canada or any order made anywhere in the world to enforce such judgement award or settlement whether in whole or in part (Ii) (1) to Personal Injury or Property Damage directly or indirectly caused by seepage pollution or contamination provided always that this paragraph (ii) shall not apply to Personal Injuiy or Property Damage where such seepage pollution or contamination is caused by a sudden unintended and unexpected happening during the Period of Insurance (2) the cost of removing nullifying or cleaning up seeping polluting or contaminating substances unless the seepage pollution or contamination is caused by a sudden unintended and unexpected happening during the Period of Insurance (3) fines penalties punitive or exemplary damages arising therefrom 62/97411/D Page 9 of 27 Hanson Pie GLD056677 0049-GLD-000056677 This paragraph (ii) shall not extend the Policy to cover Personal Injury or Property Damage which would not have been covered under this Policy had this paragraph (ii) not been attached and shall not apply where paragraph (i) is applicable (L) The publication or utterance of a libel or slander (a) made prior to the effective date of this insurance or (b) made at the direction of the Insured with knowledge of the falsity thereof (M) Personal Injury sustained by any Employee arising out of and in the course of employment of that Employee tty the Insured except in respect of (i) any amount in excess of any limits applicable under any policy effected in that country to comply with legal requirements (ii) subrogation rights exercised against the Insured by any State Social Security or similar scheme (N) Personal Injury or Property Damage arising out of Aircraft Products and Completed Operations or reliance upon any representation or warranty made with respect thereto nor to any liability arising out of the Grounding of any aircraft (O) indemnity to a vendor under definition (A)(h) in respect of liability arising from (i) any physical or chemical change in the form of the product made intentionally by the vendor (ii) repacking unless unpacked solely for the purpose of inspection demonstration testing or substitution of parts under instruction from the manufacturer and then repacked in the original container (iii) products which after distribution or sale by the Insured have been labelled or relabelled or used as a container part or ingredient of any other thing or substance by or for the vendor (iv) the fault or negligence of such vendor (v) demonstration installation servicing of repair operations except such operations performed at the vendors premises in connection with the sale of the Insureds Product (P) to Personal Injury claims arising out of the following (i) a past present or prospective Employee of the Insured arising from any employment action practice or policy of the Insured including but not limited to that of hiring or firing promotion or demotion performance evaluation compensation disciplinaiy action retirement layoff or transfer or (ii) any relative or member of the family of that past present or prospective employee as a consequence of (i) above 62/97411/D Page 30 of 27 Hanson PJc GLD056678 0049-GLD-000056678 (Q) to Property Damage Personal Injury occupational disease at any time arising out of the manufacture of mining of use of sales of installation of removal of distribution of or exposure to asbestos asbestos products asbestos fibers or asbestos dust or to any obligation of the Insured to indemnify any party because of damage arising out of such Property Damage Personal Injury or occupational disease at any time as a result of the manufacture of mining of use of sales of installation of removal of distribution of or exposure to asbestos asbestos products asbestos fibers or asbestos dust in respect of any claim judgement award or settlement made in any country or territory which operates under the laws of the United States of America or Canada or any order made anywhere in the world to enforce such judgement award or settlement whether in whole or in part It is further understood and agreed that the Company is not obligated to defend any suit or claim against the Insured alleging Property Damage Personal Injury or occupational disease and seeking damages if such suit or claim arises from Property Damage Personal Injury or occupational disease resulting from or contributed to by any and all manufacture of mining of use of sales of installation of removal of distribution of or exposure to asbestos asbestos products asbestos fibers or asbestos dust (R) to any obligations incurred or imposed upon the Insured under the Employee Retirement Income Security Act of 1974 Public Law 93-406 and any law amendatory thereof (S) to Personal Injury or occupational disease including but not limited to death addiction or the contraction aggravation or exacerbation of any disease sickness injury or disorder of the body alleged to have been caused by tobacco or tobacco products nicotine or nicotine products manufactured processed sold or supplied by the Insured G2/97411/D Pago 11 of 27 Hanson Pic GLD056679 0049-GLD-000056679 DEFINITIONS When used in this policy (including endorsements forming a part hereof) (A) Persons Insured means each of the following to the extent set forth below (a) (1) the Insured stated in the Policy Schedule (2) any additional companies that become subsidiaries or owned or controlled companies of said Insured providing notice is given to the Company within sixty (60) days thereof (b) Any partnership or joint venture only to the extent of the Insured's interest in such partnership or joint venture (c) any person organization trustee or estate to whom or to which the Insured is obligated by virtue of a written contract to provide insurance such as is afforded by this policy but only with respect to operations by or on behalf of the Insured or to the facilities of or used by the Insured (d) subject to the terms and conditions of this policy any additional Insured included in the underlying insurance but only to the extent that insurance is available to such additional Insured under such underlying insurance (e) except with respect to ownership maintenance or use including loading or unloading of any automobiles or aircraft any partner executive officer director stockholder or Employee of the Insured while acting in his capacity as such and any organization or proprietor with respect to real estate management for the Insured (f) any person while using any automobile owned by the Insured or any automobile loaned to the Insured or hired for use on behalf of the Insured and any person legally responsible for the use thereof provided the actual use thereof is with the permission of the Insured and any executive officer director or stockholder of the Insured with respect to the use of an automobile not owned by the Insured in the business of the Insured The insurance with respect to any person or organization other than the Insured does not apply under this clause (1) to any person or organization to any agent or employee thereof operating an automobile sales agency repair shop service station storage garage or public parking place with respect to an Occurrence arising out of the operation thereof (2) with respect to any automobile hired by or loaned to the Insured to the owner or lessee thereof other than the Insured or to any agent or employee of such owner or lessee The inclusion or addition hereunder of more than one Insured shall not operate to increase the Company's Limit of Indemnity 62/97411/D Page 12 of 27 Hanson Pte GLD056680 0049-GLD-000056680 (g) at the request of the Insured named in the Policy Schedule directors or Employees of the Insured and any member of their family or persons normally resident with them whilst travelling outside their usual country of residence in connection with the Business or any related holiday period (h) Any vendor of the Insureds Products where the Insured has agreed to indemnify the vendor in respect of liability for Personal Injury or Property Damage arising from the Insureds Products provided that such a vendor shall observe fulfill and be subject to the terms exceptions limits and conditions of this policy so far as they can apply (i) In the event of the death of the Insured any personal representative of the Insured in respect of liability incurred by the Insured 0) The Insureds canteen social sports and welfare organisations and first aid fire and ambulance services including any officer member committee member and voluntary helper both jointly and severally in their respective capacities as such (B) Employees shall mean any person under a contract of service or apprenticeship with the Insured which shall include (a) any Labour Master or Labour only Sub-Contractor or persons supplied by any of them (b) self-employed persons (c) any person hired or borrowed by the Insured from another employer (d) persons under work experience study and/or training schemes working for the Insured in connection with the Business (C) Business shall include (a) the provision of catering social sports and welfare facilities for Employees and/or ex Employees and/or their families and/or guests (b) the provision of fire first aid medical ambulance and security services (c) the provision of car parks (d) private work carried out with the consent of the Insured by an Employee for a director or partner or Employee of the Insured (e) the ownership occupation and maintenance of premises (f) participation in exhibitions (D) Personal Injury shall mean (a) bodily injury sickness disease including death anytime resulting therefrom shock fright mental anguish and mental injury (b) false arrest false imprisonment wrongful eviction wrongful detention malicious prosecution and humiliation 62/97411/D Page 13 of 27 Hanson Pic GLD056681 0049-GLD-000056681 (c) libel slander defamation of character or invasion of right of privacy unless arising out of Advertising Liability (d) assault and battery not committed by or at the direction of the Insured unless committed for the purpose of preventing or eliminating danger to persons or property which occurs during the Period of Insurance (E) Property Damage shall mean (1) physical injury to or destruction of tangible property which occurs during the Period of Insurance including loss of use thereof at any time resulting therefrom or (2) loss of use of tangible property which has not been physically injured or destroyed provided such loss ofuse is caused by an Occurrence during the Period of Insurance (F) Advertising Liability shall mean liability for damage because of (a) unintentional libel slander or defamation of character (b) infringement of copyright or title or of slogan (c) piracy or unfair competition or idea misappropriation under an implied contract (d) invasion of the rights of privacy committed or alleged to have been committed during the Period of Insurance in any advertisement publicity article broadcast or telecast and arising out of the Insureds advertising activities (G) Products Hazard includes Personal Injury and Property Damage arising out of the Insureds Products or reliance upon a representation or warranty with respect thereto but only if the Personal Injury or Property Damage occurs away from premises owned by or rented to the Insured and after physical possession has been relinquished to others (H) Insureds Products means services goods or products manufactured repaired serviced altered constructed erected treated installed processed stored disposed handled sold supplied hired out transferred or distributed by the Insured or by others trading under the Insureds name including any container packaging labels instructions for use or reliance on a representation or warranty with respect thereto (I) Completed Operations Hazard includes Personal Injury and Property Damage arising out of operations or reliance upon a representation or warranty made at any time with respect thereto but only if the Personal Injury or Property Damage occurs after such operations have been completed or abandoned and occurs away from premises owned by or rented to the Insured Operations include materials parts or equipment furnished in connection therewith 62/97411/D Page 14 of 27 Hatison Pic GLD056682 Operations shall be deemed completed at the earliest of the following times (a) when all operations to be performed by or on behalf of the Insured under the contract have been completed (b) when all operations to be performed by or on behalf of the Insured at the site of the operations have been completed (c) when the portion of the work out of which the Personal Injury or Property Damage arises has been put to its intended use by any person or organization other than another contractor or sub-contractor engaged in performing operations for a principal as part of the same project Operations which may require further service or maintenance work or correction repair or replacement because of any defect or deficiency but which are otherwise complete shall be deemed completed The Completed Operations Hazard does not include Personal Injury or Property Damage arising out of (1) operations in connection with the transportation of property unless the Personal Injury or Property Damage arises out of a condition in or on a vehicle created by the loading or unloading thereof (2) the existence of tools uninstalled equipment or abandoned or unused materials (J) Occurrence with respect to Personal Injury and Property Damage the term Occurrence means an event including continuous or repeated exposure to conditions which result in Personal Injury or Property Damage during die Period of Insurance neither expected not intended from the standpoint of the Insured All Personal Injury or Property Damage arising out of the continuous or repeated exposure to substantially the same general conditions shall be considered as arising out of one Occurrence (K) Ultimate Net Loss except as provided in Insuring Agreement II Defense the terms Ultimate Net Loss shall mean the total sum which the Insured or any company as its insurer or both become obligated to pay by reason of Personal Injury Property Damage or Advertising Liability claims either through adjudication or compromise and shall also include hospital medical and funeral charges and all sums paid or payable as salaries wages compensation fees charges interest expenses for doctors nurses and investigators and other persons and for settlement adjustment investigation and defense of claims and excluding only the salaries of the Insured or any of the underlying Insurers permanent employees The liability of the Company for costs and expenses as aforesaid shall be limited to that proportion which the amount payable under this policy excluding such costs and expenses bears to the total sum payable under all contributing policies excluding such costs and expenses 62/97411/D Pags LS of 27 Hanson Pk GLD056683 (L) Medical persons means medical doctors medical nurses and dentists (M) Aircraft Products and Completed Operations means (1) aircraft (including missiles or space craft and ground support or control equipment used therewith) and any other goods or products manufactured sold bandied or distributed by the Insured or any services provided or recommended by the Insured or by others trading under his name for use in the manufacture repair operation maintenance or use of any aircraft and (2) any articles furnished by the Insured and installed in aircraft or used in connection with aircraft or for spare parts for aircraft including ground handling tools and equipment and also means training aids instructions manuals blueprints engineering or other data engineering or other advice and labor relating to such aircraft or articles Grounding shall mean the withdrawal of one or more aircraft for the flight operations or the imposition of speed passenger or load restrictions on such aircraft by reason of the existence of or alleged or suspected existence of any defect fault or condition in such aircraft or any part thereof sold handled or distributed by the insured or manufactured assembled or processed by any other person or organization according to specifications plans suggestions orders or drawings of the Insured or with tools machinery or other equipment furnished to such persons or organizations by the Insured whether such aircraft so withdrawn are owned or operated by the same or different persons organisations or corporations A Grounding shall be deemed to commence on the date of an accident or Occurrence which discloses such condition or on the date an aircraft is first withdrawn from service on account of such condition whichever occurs first 62/97411/D Page 16 of 27 Hanson Pic GLD056684 0049-GLD-000056684 CONDITIONS This Policy and Schedule (including any Schedule issued in substitution) and any Memoranda shall be considered one document and any word or expression to which a specific meaning has been attached shall bear such meaning wherever it appears 1 Premium If any part of the premium is calculated on estimates furnished by the Insured the Insured shall keep an accurate record containing all particulars relative thereto and shall at all times allow the Company to inspect such record The Insured shall within one month from the expiry of each Period of Insurance furnish to the Company such particulars and information as the Company may require The premium for such period shall thereupon be adjusted and the difference paid by or allowed to the Insured as the case may be 2 Prior Insurance and Non-Cumulation of Liability It is agreed that if any loss is also covered in whole or in part under any other excess policy issued to the Insured prior to the inception date hereof the Companys limit of Indemnity as stated in the Policy Schedule shall be reduced by any amounts due to the Insured on account of any such loss under such prior insurance 3 Severability of Interest In the event of claims being made by reason of Personal Injury Property Damage or Advertising Liability suffered by one Insured herein for which another Insured herein is or may be liable this policy shall cover such Insured against whom a claim is made or may be made in the same manner as if separate policies had been issued to each Insured herein Nothing contained herein shall operate to increase the Companys Limit of Indemnity as set forth in the Policy Schedule 4 Notice of Occurrence Whenever the Insured has information from which the Insured may reasonably conclude that an Occurrence covered hereunder involved injuries or damages which in the event that the Insured should be held liable is likely to involve this policy notice shall be sent to the Company or to any authorized agent of the Company as soon as is reasonably possible Notice to any authorized agent shall be deemed notice to the Company 5 Inspection and Audit The Company shall be permitted but not obligated to inspect the Insureds property and operations at any time Neither the Companys right to make inspections nor the making thereof nor any report thereon shall constitute an undertaking on behalf of or for the benefit of the Insured or others to determine or warrant that such property or operations are safe The Company may examine and audit the Insureds books and records at any time during the policy and extensions thereof and within three (3) years after the final termination of this policy as far as they relate to the subject matter of this insurance 62/97411/D Page 17of 27 Hanson PJc GLD056685 6 Maintenance of Underlying Insurance The policy or policies referred to in the attached Schedule of Underlying Insurances and any renewal or replacement thereof not more restrictive shall be maintained by the Insured in full effect during the currency of this policy without alteration of terras or conditions except for any reduction of the aggregate limit or limits contained therein solely by payment of claims Failure of the Insured to comply with the foregoing shall not invalidate this policy but in the event of such failure the Company shall only be liable to the same extent as it would have been had the Insured so maintained such policy or policies 7 Assistance and Cooperation Except as provided by the Insuring Agreement H Defense the Company shall not be called upon to assume charge of the settlement or defense of any claim made or suit brought or proceedings instituted against the Insured but the Company shall have the right and shall be given the opportunity to associate with the Insured or the Insureds underlying insurer or both in the defense and control of any claim suit or proceeding relative to any Occurrence where the claim or suit involves or appear reasonably likely to involve the Company in which event the Insured the underlying insurers and the Company shall cooperate in all things in the defense of such claim suit or proceeding 8 Appeals In fee event fee Insured or the Insureds underlying insurer(s) elects not to appeal a judgment in excess of the underlying limits the Company may elect to make such appeal at its own cost and expense and shall be liable for the taxable costs and disbursements and interest incidental thereto but in no event shall the liability of the Company for the Ultimate Net Loss exceed the sum set forth in the Limit of Indemnity in fee Policy Schedule for any one Occurrence plus the cost and expense of such appeal 9 Other Insurance If other valid and collectible insurance with any other insurer is available to the Insured covering a loss also covered hereunder this insurance shall be excess of and shall not contribute with such other insurance Excess insurance over the limits of Liability expressed in this policy is permitted without prejudice to this insurance and the existence of such insurance shall not reduce any liability under this policy 10 Application of Salvages - Subrogation All salvages recoveries or payments recovered or received subsequent to a loss settlement under this insurance shall be applied as if recovered or received prior to such settlement and all necessary adjustments shall then be made between the Insured and the Company provided always that nothing in this clause shall be construed or mean that losses under this insurance are not recoverable until the Insureds Ultimate Net Loss has been finally ascertained 62/97411/D Page 18 of 27 Hanson Pic GLD056686 In as much as this policy is Excess Coverage the Insureds right of recovery against any person or other entity cannot always be exclusively subrogated to the Company It is therefore understood and agreed that in case of any payment hereunder the Company shall act in concert with all other interests (including the Insured) concerned in the exercise of such rights of recovery The apportioning of any amounts which may be so recovered shall follow the principle that any interests (including the Insured) that shall have paid an amount over and above any payment hereunder shall first be reimbursed up to the amount paid by them the Company shall then be reimbursed out of any balance then remaining up to the amount paid hereunder lastly the interests (including the Insured) of whom this coverage is excess are entitled to claim the residue if any Expense necessary to the recovery of any such amounts shall be apportioned between the interests (including the Insured) concerned in the ratio of their respective recoveries as finally settled 11 Changes Notice to or knowledge possessed by ary person shall not affect a waiver or change in any part of this policy or stop the Company from asserting any rights under the terms of this policy nor shall the terms of this policy be waived or changed except by endorsement issued to form a part hereof signed by an authorized representative of the Company 12 Assignment Assignment of interest under this policy shall not bind the Company until its consent is endorsed hereon if however the Insured shall be adjudged bankrupt or insolvent this policy shall cover the Insureds legal representative as an Insured provided that notice of cancellation addressed to the Insured named in the Policy Schedule and mailed to the address shown in this policy shall be sufficient notice to effect cancellation of this policy 13 Cancellation This policy may he cancelled by the Insured by surrender thereof to the Company or any of its authorized agents or by mailing to the Company or any of its authorised agents written notice stating when thereafter such cancellation shall be effective The policy may be cancelled by the Company by mailing to the Insured at the address shown in the Policy Schedule written notice stating when not less than sixty (60) days thereafter ten (10) days with respect to cancellation for non-payment of premium such cancellation shall be effective Proof of mailing of notice as aforesaid shall be sufficient proof of notice The time of surrender or the effective date and hour of cancellation stated in the notice shall become the end of the Period of Insurance Deliveiy of such written notice either by the Insured or by the Company shall be equivalent to mailing If the Insured cancels earned premium shall be computed in accordance with the customary short rate table procedure If the Company cancels earned premium shall be computed pro rata In the event of such cancellation the earned premium shall in no case be less than the annual premium stated in the Policy Schedule subject to the policy minimum premium also stated in the Policy Schedule 62/97411/D Page 19 of 27 Hanson Pic GLD056687 0049-GLD-000056687 Premium adjustment may be made at the time cancellation is effected or as soon as practicable thereafter The check of the Company or its representative mailed ox delivered shall be sufficient tender of any refund due the Insured If this policy insures more than one Insured cancellation may be effected by the first of such Insureds for the account of all Insureds the notice of cancellation by the Company to such first Insured shall be notice to all Insureds Payment of any unearned premium to such first Insured shall be for the account of all interests in such payment 14 Bankruptcy and Insolvency In the event of the bankruptcy or insolvency of the Insured or any entity comprising the Insured the Company shall not be relieved thereby of the payment of any claims hereunder because of such bankruptcy or insolvency 15 Insured The Insured in the Policy Schedule shall be responsible for payment of all premiums and shall act on behalf of all other Insureds with respect to the giving and receiving of notice of cancellation and the receipt of any return premium that may become payable under this policy 16 The Insured shall take reasonable precautions to prevent any Occurrence which may give rise to liability under this Policy 17 No admission offer promise payment or indemnity shall be made or given by or on behalf of the Insured without the written consent of the Company except at the Insureds own cost The Company shall be entitled to conduct in the name of the Insured the defence or settlement of any claim and shall have sole discretion in the conduct of any proceedings and in the settlement of any claim save as hereinafter provided in Conditions 19 and 20 18 The Company shall be entitled to pursue for their own benefit in the name of the Insured any rights against parties other than the Insured resulting from claims under this Policy 19 The Insured shall give all such assistance to deal with claims and conduct of legal proceedings arising therefrom as the Company and/or their legal advisers and consultants may reasonably require The choice of Counsel is to be agreed by the Insured and the Company 20 (i) In connection with any claims against the Insured the Company may at any time pay to the Insured the Limits of Indemnity or any less amount for which such claims can be settled and thereupon the Company shall relinquish the control of such claims and be under no further liability in connection therewith except for Legal Costs which the Company have already agreed to bear in respect of matters prior to the date ofpayment 62/97411/D Page 20 of 27 Hanson Pic 6LD056688 0049-GLD-000056688 (0) The Company shall give to the Insured notice of the Companys intention to settle any claims in accordance with the provisions of (i) above whether by payment of the Limit of Indemnity or otherwise If having been given such notice the Insured shall then refuse to consent to the settlement proposed by the Company and shall elect to have such claims dealt with in any other manner the liability of the Company for those claims (including Legal Costs) shall be limited to (a) the amount for which the Company would have been liable had the Insured consented to such settlement or (b) the amount for which such claims are finally settled including Legal Costs whichever is the less All Legal Costs shall be paid by the Company in addition to the applicable limits of Indemnity stated in the Policy Schedule 62/97411/D Page 21 of 27 Hanson Pic GLD056689 0049-GLD-000056689 Memoranda attaching to and forming part of Policy No.62/97411/D in the name of Hanson Pic and all Subsidiary and/or Associated Companies 1 Motor Contingent liability The Company will indemnify the Insured in respect of Personal Injury or Property Damage arising out of the use by an Employee or director of the Insured of any mechanically propelled vehicle not the property of the Insured and when such vehicle is being used in connection with the Business provided always that the Company will not be liable (a) in respect of Property Damage to any such vehicle and (b) for amount recoverable if the Insured is entitled to an indemnity under any other insurance (which insurance shall be maintained in force) 2 Excess Motor Liability The policy shall apply to any Personal Injuiy and Property Damage excess beyond the amount payable under any primary motor insurance policy provided that (a) valid and collectable primary motor insurance policies be maintained in force during the Period of Insurance in respect of all the Insureds vehicles whilst being used in circumstances where the Insured is obliged to arrange compulsory motor insurance The minimum limit under such primary insurance will be US$250,000 (or local currency equivalent) or compulsory limits whichever is the greater except where a vehicle has been hired or leased for use by an Employee of the Insured primarily for the purpose of the business of the Insured in which case this policy will apply in excess of the limits of indemnity provided by the hire companys motor insurance policy (b) the indemnity under this clause shall be subject to the same terms condition and warranties as the primary motor insurance policies (c) the maximum liability of the Company under this clause shall be the difference between the limit under the applicable primary policy and the Limit of Indemnity stated in the Policy Schedule (d) the Company shall not be liable in respect of Property Damage to any such vehicle 3 S.CM. Maryland Facility Notwithstanding anything contained in this policy to the contrary it is understood and agreed that Exclusion (K) shall not apply in respect of automobile accidents on the bridge resulting from operations at the S.C.M. Maryland Facility 62/97411/D Page 22 of 27 Haoson Pic GIiD056690 0049-GLD-000056690 4 Insurance Company Endorsement It is understood and agreed that such coverage as is afforded by this policy shall not apply to A) Personal Injury or Property Damage to or arising out of any property held in care custody or control of the Insured while the Insured is acting in any fiduciary capacity B) Property Damage to money currency coin bank notes postage and revenue stamps US savings stamps bullion precious metals of all kinds and any form and articles made therefrom jewelry watches necklaces bracelets gems precious and semi-precious stones bonds securities evidence' of debts debentures scrip certificates receipts warrants rights transfers coupons drafts bills of exchange acceptances notes checks withdrawal orders money orders travelers letters of credit bills of lading abstracts of title insurance policies deeds mortgages upon real estate and/or upon chattels and upon interest therein and assignment of such policies mortgages and instruments and other valuable papers and documents and all other instruments similar to or the nature of the foregoing C) any liability arising out of any act error mistake or omission of any Insured any agent or sub-agent of any Insured while acting in a fiduciary capacity D) any liability assumed by any Insured or agent or sub-agent of any Insured under any insurance binder or contract of insurance suretyship or reinsurance E) any liability resulting from any error mistake or omission committed or alleged to have been committed by any Insured or any person for whom the Insured is legally responsible and arising out of (1) the writing or failure to write any contracts of insurance, suretyship or reinsurance (2) any consulting or insurance agent or broker activities (3) the operations of any investment loan or real estate departments (4) any inspections engineering or safety engineering services (5) any data processing or computer services F) any liability arising out of the handling of claims 5 Mining Limitation Endorsement It is agreed that in respect of Peabody Holdings no coverages under this Policy apply to occurrences arising out of 1 a) damage to or destruction of underground property 62/97411/D Page 23 of 27 Hanson Pic GLD056691 0049-G LD-000056691 b) the increased cost of reducing any underground property to physical possession above the surface of the earth or to the expense required to prevent or reduce loss of or damage to property resulting from acts or omissions causing underground damage The term underground property as used in the endorsement means oil gas or other mineral substances including any title interest or estate therein which at the time of the acts or omissions causing loss of damage to or destruction of such substance or loss impairment or reduction in the value of such title interest or estate has not been reduced to physical possession above the earths surface This term also means any well hole formation strata or area beneath the surface of the earth in or through which exploration for or production of ary such substances is carried on or casing pipe bit tool pump or other drilling or well servicing machinery or equipment which is located in any such well or hole beneath the earths surface at the time of the accident causing damage or destruction 2 Seepage pollution or contamination 3 Costs of restoration reclamation back-filling grading planting covering or other modification of mine working high walls spoil banks haulage ways or streams 4 Except insofar as coverage is available to the Insured in the underlying insurance as set forth in the Schedule of Underlying Insurance of the Policy this Policy shall not apply under section 1 (b) of this memorandum to A) damage to or destruction of any property arising out of 1) blasting or explosion other than the explosion of air or steam vessels piping under pressure prime movers machinery or power transmitting equipment or 2) the collapse of or structural damage to any building or structure due to (aa) grading of land excavation borrowing filling or back filling tunnelling pile driving cofferdam work or caisson work or (bb) to moving shoring underpinning raising or demolition of any building or structure or removal or rebuilding ofany structural support thereof B) damage to or destruction of wires conduits pipes mains sewers tanks tunnels any similar property and any apparatus in connection therewith beneath the surface of the ground or water caused by and occurring during the use of mechanical equipment for the purpose of grading land paving excavating drilling borrowing filling back filling or pile driving or to damage to or destruction of property at any time resulting therefrom 62/97411/D Page 24 Of 2? Hanson Pic GLD056692 0049-GLD-000056692 6 Named Peril Pollution Endorsement Notwithstanding anything contained in this Policy to the contrary it is agreed that in respect of Peabody Holdings Exclusion (K) is replaced by the following (1) To Personal Injury or Property Damage arising out of the actual alleged or threatened discharge dispersal release or escape of pollutants a) at or from premises currently owned rented or occupied by the Insured or that the Insured formerly owned rented or occupied b) at or from any site or location used by or for the Insured or others for the handling storage disposal processing or treatment of waste material c) which are at any time transported handled stored treated disposed of or processed as waste by or for the Insured or any person or organization for whom the Insured may be legally responsible or d) at or from any site or location on which the Insured or any contractors or subcontractors working directly or indirectly on the Insureds behalf are performing operations (i) To test for monitor dean up remove contain treat detoxify or neutralize the pollutants or (ii) If the pollutants are brought on or to the site or location by or for the Insured (2) Any loss cost or expense arising out of any governmental direction or request that the Insured test for monitor dean up remove contain treat detoxify or neutralize pollutants Pollutants means any solid liquid gaseous or thermal irritant or contaminant including smoke vapor soot fumes acids alkalis chemicals and waste material Waste material includes materials which are intended to be or have been recycled reconditioned or reclaimed Provided however that this exclusion does not apply to Personal Injury or Property Damage arising from the Products Hazard and Completed Operations Hazard nor to such discharge dispersal release or escape directly caused by hostile fire explosion vandalism and malicious mischief lightning windstorm or upset or collision of a motor vehicle and Dam Breach 7 Occupational Disease Exclusion It is agreed that in respect of Peabody Holdings this Policy shall not apply to any liability of or claims made against the Insured for any sickness or disease or death resulting therefrom to any Employees of Peabody Holdings arising out of and in the course of tbe Employees employment by Peabody Holdings or to any obligation of Peabody Holdings to indemnify another because of liability arising out of such sickness disease or death resulting therefrom as respects coal related diseases 62/9741 I/D Page 25 of 27 Hanson Pic GLD056693 0049-GLD-000056693 8 Drop Down Endorsement The liability of the Company shall not be increased by the refusal or inability of the Insured to pay the Deductible or retained limit or by the refusal or inability of any underlying insurer to pay whether by reason of insolvency bankruptcy or otherwise 9 Follow Form It is hereby noted and agreed that in respect of liability of the Insureds subsidiary companies outside of the United States of America and/or Canada coverage afforded under this policy shall follow the terms and conditions of Eagle Star Insurance Company limited Policy No 65005634 in the name of Hanson Pic and/or Subsidiaiy Companies where indemnity is provided such by policy notwithstanding any other terms and conditions contained herein 10 Cross Suits Endorsement It is agreed that in respect of the Insureds Subsidiaiy Peabody Holding the coverage afforded by this policy does not apply to a claim for damages arising out of Personal Injury or Property Damage initiated alleged or caused to be brought about by a named Insured or additional named Insured covered by this policy against any other named Insured covered by this policy 11 Indemnity to Principal It is agreed that in the event of any claim in respect of which the Insured would be entitled to receive indemnity under this Policy being brought or made against any public or local authority or other principal the Company will indemnify the said public or local authority or other principal against such claim and/or any costs charges and expenses in respect thereof Provided always that the Company shall not be liable under this Memorandum unless the Company has the sole conduct and control of all claims Subject otherwise to the terms exceptions and conditions of the Policy Date;2 July 1993 Signed__ ______________________ For and c Gerling Konzern General Insurance Company -UK Branch 62/97411/D Page 26 of 27 Hanson Pic GLD056694 0049-GLD-000056694 Memorandum No 12 attaching to and forming part ofPolicy No 62/97411/D in the name of Hanson PLC and all Subsidiary and/or Associated Companies It is agreed that as from (i) the 17th December 1991 International Mini Warehouse Associates shall be deemed to be an "Associated and/or Subsidiary Company" of the Insured and the following shall be added to the Schedule of Underlying Insurances:- V) INTERNATIONAL MINI WAREHOUSE ASSOCIATES Automobile Liability Hartford Insurance Company 03/01/92 * 03/01/93 $1,000,000 combined single limit Employers liability Hartford Insurance Company m/23/92 - 02/23/93 $100,000 each, accident $500,000 each policy disease $100,000 each employee disease Commercial General liability Atlas Insurance Company 01/01/92-01/01/93 $1,000,000 each occurrence $2,000,000 general aggregate $2,000,000 pioducts/coapleted operations aggregate Commercial General liability Atlas Insurance Company 01/01/92-01/01/93 $1,000,000 personal and advertising injury Fire damage legal liability Water damage legal liability Umbrella Liability Chubb Insurance Group 01/02/92 - 01/02/93 $10,000,000 per occurrence $20,000,000 products/completed operations aggregate 510,000,000 general aggregate (ii) the 14th May 1992 Hampshire County Council are interested in the insurance provided by this Policy as Employers in respect of contracts made with the Insured as Contractors incepting during the Period of Insurance (iil) the 1st October 1992 (a) this Policy is renewed for a further period of 12 months in consideration of which a Renewal Premium of US$1,100,000.00 in full is payable to the Company (b) Beazer pic Beazer East Inc Beazer West Inc and Tidewater Construction Corporation are each deemed to be an "Associated and/or Subsidiary Company' of the Insured (c) the Schedule of Underlying Insurances is cancelled and replaced by Attachment 1 hereto (d) notwithstanding anything contained in this Policy to the contrary it is agreed that such coverage as is afforded by this Policy shall not apply to: (i) Property Damage to any property or equipment leased by the Insured or (ii) Property Damage to property being installed erected or worked upon by the Insured his agents or subcontractors or (iii) Personal Injury or Property Damage arising out of any project insured under a "wrap-up" or any similar rating plan or (iv) Personal Injury or Property Damage arising out of any professional services performed by or on behalf of the Insured including but not limited to the preparation or approval of maps plans opinions reports surveys designs or specifications and any supervisory inspection or engineering services GLD056695 0049-GLD-000056695 It is further agreed that such coverage as is afforded by the Policy shall not apply to: (i) Property Damage arising out of: (a) blasting or explosion other than the explosion of air or steam vessels piping under pressure prime movers machineiy or power transmitting equipment or (b) the collapse of or structural injury to any building or structural injuiy to any building or structure due to: (1) grading of land excavating burrowing filling or back-filling tunnelling pile driving coffer-dam work or caisson work or (2) moving shoring underpinning raising or demolition of any building or structure or removal or rebuilding of any structural support thereof or (3) damage to or destruction of wires conduits pipes mains sewers tanks tunnels any similar property and any apparatus in connection therewith beneath the surface of the ground water caused by and occurring during the use of mechanical equipment for the purpose of grading land paving excavating drilling burrowing filling hack-filling or pile driving (ii) any liability assumed by the Insured under any contract or agreement unless such damages are covered by valid and collectible underlying insurances as listed in the Schedule of Underlying Insurances for the full limits of liability shown therein and then only for such hazards for which coverage is afforded under said Underlying Insurance (e) Memorandum No 5 is cancelled and of no effect (f) it is agreed that no coverages under this Policy apply to occurrences arising out of 1 a) damage to or destruction of underground property b) the increased cost of reducing any underground property to physical possession above the surface of the earth or to the expense required to prevent or reduce loss of or damage to property resulting from acts or omissions causing underground damage The term "underground property" as used in this endorsement means oil gas water or other mineral substances including any title interest or estate therein which at the time of the acts or omissions causing loss of damage to or destruction of such substance or loss impairment or reduction in the value of such title interest or estate has not been reduced to physical possession above the earth's surface This term also means any well hole formation strata or area beneath the surface of the earth in or through which exploration for or production of any such substances is carried on or casing pipe bit tool pump or other drilling or well servicing machinery or equipment which is located in any such well or hole beneath the earth's surface at the time of the accident causing damage or destruction GLD056696 0049-GLD-000056696 2 Subsidence settling sinking slipping falling away caving in shifting eroding mud flow rising tilting or any other movement of land or earth if any of the foregoing emanates from an above ground or underground mine whether active inactive or abandoned or operations being conducted therein 3 Seepage pollution or contamination 4 Costs of restoration reclamation back-tilling grading planting covering or other modification of mine working high walls spoil banks haulage ways or streams 5 Except insofar as coverage is available to the Insured in the underlying insurance as set forth in the Schedule of Underlying Insurance of the Policy this Policy shall not apply under section 1 (b) of this memorandum to A) damage to or destruction of any property arising out of 1) blasting or explosion other than the explosion of air or steam vessels piping under pressure prime movers machinery or power transmitting equipment or 2) the collapse of or structural damage to any building or structure due to (aa) grading of land excavation borrowing tilling or back-tilling tunnelling pile driving cofferdam work or caisson work or (bb) to moving shoring underpinning raising or demolition of any building or structure or removal or rebuilding of any structural support thereof B) damage to or destruction of wires conduits pipes mains sewers tanks tunnels any similar property and any apparatus in connection therewith beneath the surface of the ground or water caused by and occurring during the use of mechanical equipment for the purpose of grading land paving excavating drilling borrowing filling back-tilling or pile driving or to damage to or destruction of property at any time resulting therefrom It is further agreed that the Policy does not apply to mining operations at any location other than that at which mining operations were being conducted at the inception of this Policy unless the Insured has notified the Company of the commencement of such operations and the Company has issued a memorandum to the Policy extending it to such operations (g) the term "Peabody Holdings* mentioned in Memorandum No 6 shall be deemed to read "Peabody Holdings and Beazer East Inc" (h) this Policy shall not apply to any of the discontinued operations of Beazer East Inc (iv) the 5th November 1992 A & S Building Systems Inc are no longer deemed to be an "Associated and/or subsidiary Company" of the Insured (v) the 17th November 1992 Weber Aircraft Inc are no longer deemed to be an "Associated and/or Subsidiary Company" of the Insured GLD056697 0049-GLD-000056697 (vi) the 1st April 1993 (a) Policy Nos GL01423786 BAP1423785 (non Texas States) and TAP1423787 (Texas) are deleted from item ii) Beazer West of the Schedule of Underlying Insurances (b) Beazer West Inc shall be deemed to be included within item i) Hanson Industries Domestic USA and Canada of the Schedule ofunderlying Insurances (c) the North Texas Cement Company shall be deemed to be an "Associated and/or Subsidiary Company" of the Insured and the following item shall be added to the Schedule of Underlying Insurances:- VI) NORTH TEXAS CEMENT COMPANY Automobile Liability General Products liability Zurich American Insurance Co Zurich American Insurance Co 01/04/93 -01/04/M 01/04/93-01/04/94 12,000,000 Combined Single limit $3,000,000 each occurrence $3,000,000 general aggregate $5,000,000 products/coropleted operations aggregate $3,000,000 personal/advertising 150,000 fire legal 15)300 medical expenses (vii) the 1st May 1993 this Polity subject to its terms exceptions limits and conditions extends to indemnify the Insured in respect of their pile testing activities from watercraft in Chesapeake Bay Virginia Provided always that the Company shall not be liable for occurrences arising out of or caused by the navigation or piloting or the like of the said watercraft (viii) the 25th June 1993 Sante Fe Coal are deemed to be and Goldfields Mining Corporation are no longer deemed to be an "Associated and/or Subsidiary Company" of the Insured (xi) the 1st October 1993 (a) this Policy is renewed for a further period of 12 months in consideration of which a Renewal Premium of US$1,100,000.00 in full is payable to the Company (b) the Schedule of Underlying Insurances is cancelled and replaced by Attachment 2 hereto (c) paragraph (i) of Exclusion (K) is deemed to be deleted and replaced by the following:- "(1) to Personal Injury or Property Damage arising out of the actual alleged or threatened discharge dispersal release or escape of pollutants a) at or from premises currently owned rented or occupied by the Insured or that the Insured formerly owned rented or occupied b) at or from any site or location used by or for the Insured or others for the handling storage disposal processing or treatment of waste material c) which are at any time transported handled stored treated disposed of or processed as waste by or for the Insured or any person or organization for whom the Insured may be legally responsible or GLD056698 0049-GLD-000056698 d) at or from any site or location on which the Insured or any contractors or subcontractors working directly or indirectly on the Insureds behalf are performing operations (I) to test for monitor clean up remove contain treat detoxify or neutralize the pollutants or (ii) if the pollutants are brought on or to the site or location by or for the Insured (2) Any loss cost or expense arising out of any governmental direction or request that the Insured test for monitor dean up remove contain treat detoxify or neutralize pollutants in respect of any claim judgement award or settlement made in any country or territory which operates under the laws of the United States of America or Canada or any order made anywhere in the world to enforce such judgement award or settlement whether in whole or part Pollutants means any solid liquid gaseous or thermal irritant or contaminant including smoke vapor soot fumes acids alkalis chemicals and waste material Waste material includes materials which are intended to be or have been recycled reconditioned or reclaimed Provided (i) however that this Exclusion does not apply to Personal Injury or Property Damage arising from discharge dispersal release or escape directly caused by hostile fire explosion vandalism and malicious mischief lightning windstorm or upset or collision of a motor vehicle (ii) that the Company shall not be liable for the first US$5,000,000 of each and every claim in respect of this extension Subject otherwise to the terms exceptions and conditions of the Policy Date:9 December 1993 Signed For and oi Gerling Konzern General Insurance Company -UK Branch GLD056699 0049-GLD-000056699 Memorandum No 13 attaching to and forming part of Policy No 62/97411/D in the name of Hanson PLC and all Subsidiary and/or Associated Companies It is agreed that as from the 1st October 1991 Memorandum No 9 "Follow Form" is amended to read as follows:- "lt is hereby noted and agreed that in respect of liability of the Insureds subsidiary companies outside of the United States of America and/or Canada coverage afforded under this policy shall follow the terms and conditions of Eagle Star Insurance Company Limited Policy No 65005634 in the name of Hanson PLC and/or Subsidiary Companies where indemnity is provided by such policy notwithstanding any other terms and conditions contained herein but subject always to Exclusion (K)" Subject otherwise to the terms exceptions and conditions of the Policy Date: 11 January 1994 Gerling Konzem General Insurance Company -UK Branch GLD056700 0049-GLD-000056700 V Memorandum No 14 attaching to and forming part of Policy No 62/97411/D in the name of Hanson PLC and all Subsidiaiy and/or Associated Companies It is'agreed that (i) as from the 1st October 1993 (a) notwithstanding anything contained in paragraph (iii)(h) of Memorandum No 12 to the contrary the indemnity provided by this Policy shall apply to the following discontinued operations of Beazer East Inc in respect of the Products manufactured sold handled or distributed by the Divisions prior to their date of divestiture:- Date of Divestiture Division Name 8th July 1983 Environmental Elements 25th April 1984 Engineering Construction Division 13th September 1988 Kopvenco 16th September 1988 28th September 1988 Keystone Environmental Resources Paint & Coatings Operations (Kopcoat) 15th October 1988 Engineering Group (Chemtech) 2nd December 1988 16th December 1988 29th December 1988 4th January 1989 19th January 1989 14th February 1989 27th February 1989 Meadow Steel and Ivy Steel Industrial Specialty Chemical Division (INDSPEC Chemical Corporation) Tar Division Wood Division Coke Oven and Commercial Roofings Operations (Koppers Industries Inc) Theim Corporation Insulation Division Wolman Polyester Resin Operation It is further noted that for the purposes of the above Divisions the Underlying Insurer is the Lexington under their Policy No 5594404 (b) Definition (D) (c) shall apply to all broadcasts or telecasts of the Insured's subsidiary Company Melody Radio limited whether in connection with an advertisement or not during the Period of Insurance Provided that the Company shall not be liable for 10% of each and every claim under this extension Page 1 of S GLD056701 0049-GLD-000056701 (c) the following policy is incorporated into the Schedule of Underlying Insurances:- COVER INSURER TERM LIMIT OF INDEMNITY REST OF WORLD PRIMARY POLICIES Motor Insurance Policy No 99147715 Eagle Star Insurance Company 01/10/93 - 30/09/94 1,000,000 any one occurrence for airside liability (ii) as from the 31st October 1993 the Limit of Indemnity in respect of the Comprehensive General & Automobile liability Pol No ILK-PC-63U743-A-93 issued by theTravellers Insurance Company as specified in the Schedule of Underlying Insurers is amended to read "$5,000,000 per occurrence and $5,000,000 in the aggregate" and the Term is amended to read "31/10/93 - 31/10/94" (til) as from the 31st December 1993 Axelson and Axelson of Canada are no longer deemed to be a "Subsidiary and/or Associated Company" of the Insured (iv) Subject to payment of the Renewal Premium to the Company this Policy is renewed for a further Period of Insurance as stated below PERIOD OF INSURANCE: From 1 October, 1994 ) both days To 30 September, 1995 ) inclusive RENEWAL PREMIUM: US$1,100,000 in full INSURANCE PREMIUM TAX: US$2,379.13 payable in addition to the above (Iv) as from the 1st October 1994 (a) the amounts of US$10,000,000 specified in the Limit of Indemnity shall each be deemed to read "US$5,000,000" (b) the Schedule of Underlying Insurances is cancelled and replaced by Attachment 1 hereto (b) paragraph (i) of Exclusion (K) is deemed to be deleted and replaced by the following:- "1 to Personal Injury or Property Damage arising out of the actual alleged or threatened discharge dispersal or escape of Pollutants: A) at or from premises currently owned rented or occupied by the Insured or that the Insured formerly owned rented or occupied B) at or from any site or location used by or for the Insured or others for the handling storage disposal processing or treatment of waste material C) which are at any time transported handled stored treated disposed of or processed as waste by or for the Insured or any person or organisation for whom the Insured may be legally responsible or Page 2 of5 GLD056702 0049-GLD-000056702 D) at or from any site or location on which the Insured or any contractors or subcontractors working directly or indirectly on the Insured's behalf are performing operations (i) to test for monitor clean up remove contain treat detoxify or neutralize the Pollutants or (ii) if the Pollutants are brought on or to the site or location by or foT the Insured 2 any loss cost or expense arising out of any governmental directive order or request that the Insured test for monitor clean up remove contain treat detoxify or neutralize Pollutants in respect of any claim judgement award or settlement made in any country or territory which operates under the Iawas of the United States of America or Canada or to any order made anywhere in the world to enforce such judgement award or settlement whether in whole or in part Pollutants means any solid liquid gaseous or thermal irritant or contaminant including smoke vapour soot fumes acids alkalis chemicals and waste material Waste material includes materials which are intended to be or have been recycled reconditioned or reclaimed Provided however that (i) this Exclusion above does not apply to 1 discharge dispersal release or escape directly caused by fire explosion lightning windstorm vandalism or malicious mischief collapse riot and civil commotion flood earthquake collision or upset of a motor vehicle mobile equipment or aircraft automatic sprinkler leakage mechanical breakdown or 2 Personal Injury or Property Damage which is within the Product Hazard or the Completed Operations Hazard (ii) will also not apply if said discharge dispersal release or escape of Pollutants was not a result of a named peril occurrence as defined in Proviso (i) 1 above and meets all the following conditions: A) it was accidental and neither expected nor intended by the Insured B) it was instantaneous and was demonstrable as having commenced at a specific time and date during the Period of Insurance C) its commencement became known to the Insured within 7 (seven) days D) its commencement was reported in writing to the company within 21 (twenty-one) days of becoming known to the Insured's Risk Manager E) reasonable effort was expended by the Insured to terminate the situation as soon as conditions permitted Nothing contained in this Proviso shall operate to provide any coverage with respect to Page 3 of 5 GLD056703 0049-GLD-000056703 A any site or location used by the Insured or by others on the Insured's behalf for the handling storage disposal dumping processing or treatment of waste material B any fines or penalties C any deanup costs mandated by the Superfund Program or any Federal State or Local Governmental Authority However this spedfic Exclusion 3 shall not serve to deny coverage for third party dean up costs otherwise covered by this Exdusion simply because of the involvement of a Governmental Authority D acid rain E dean up removalcontainmenttreatmentdetoxification or neutralization of Pollutants situated on premises the Insured owns rents or occupies at the time of the actual discharge dispersal seepage migration release or escape of said Pollutants F water pollution caused by oil or its derivatives In the event of a disagreement as to the interpretation of this Exclusion the disagreement shall be submitted to binding arbitration before a panel of three (3) Arbitrators within 30 days of a written request from for arbitration by either the Insured or the Company each party will choose an Arbitrator if the two Arbitrators are unable to agree within one month upon the third Arbitrator such Arbitrator shall at the request of either party be selected by the American Arbitration Association in accordance with its rules and procedures The parties shall submit their cases to the panel by written and oral evidence at a hearing time and place selected by the third Arbitrator The panel shall be relieved of all judidal formality shall not be obligated to adhere to the strict rules of law or of evidence shall seek to enforce the intent of the parties hereto and may refer to but are not limited to relevant legal principles The decision of at least two (2) of the three (3) Panel members shall be binding and final and not subject to appeal except for grounds of fraud and gross misconduct by the Arbitrators The award will be issued within 30 days of the close of the hearings Each party shall bear the expenses of its designated Arbitrator and shall jointly and equally share with the other the expense of the third Arbitrator and of the Arbitration The arbitration proceedings shall take place in or in the vicinity of New York NY The procedural rules applicable to this arbitration shall except as provided otherwise herein be in accordance with the Commercial Arbitration Rules of the American Arbitration Association It is further understood and agreed the above coverage is subject to a per occurrence retention of US$5,000,000 (indemnity only) whether insured or self-insured as from the 9th March 1994 various Beazer Homes Companies details of which have been lodged with the Company having been sold and no longer deemed to be Subsidiaiy or Associated Companies of the Insured there is a return premium of US$ 11,000.00 due to the Insured Page 4 of5 GLD056704 0049-GLD-000056704 (vi) as from the 31st August 1994 International Miniwarehouse Associates are no longer deemed to be a Subsidiary or Associate Company of the Insured (vii) as from the 23rd September 1994 Proctor and Schwartz are no longer deemed to be a Subsidiaty or Associate Company of the Insured (vui) as from the 30th September 1994 Scholes Group PLC are included within the Subsidiaiy and/or Associated Companies of the Insured Subject otherwise to the terms exceptions and conditions of the Policy Date: 25 April 1995 Exmd: Ub Signed For and on behalfof Gerling Konzern General Insurance Company -UK Branch Page 5 of 5 GLD056705 0049-GLD-000056705 ATTACHMENT! SCHEDULE OF UNDERLYING INSURANCES Period ofInsurance: 1st October 1994/30th September 1995 COVER INSURER TERM LIMIT OF INDEMNITY REST OF WORLD PRIMARY POLICIES Public and Products Liability (including D1C/D1L for overseas territories Public and Products Liability (SCM Cbemicals -Australia) Motor Insurance Pol No 99147715 100% Eagle Star Insurance Group 100% Switzerland General Insurance Company Eagle Star Insurance Company 01/10/94 - 30/09/95 01/10/94 - 30/09/95 01/30/94-30/09/95 1,000,000 any one occurrence, in aggregate for Products Liability A55,000,000 each occurrence and in aggregate 1,000,000 any one occurrence for aiiside liability USA/CANADA PRIMARY POLICIES D HANSON INDUSTRIES - Domestic USA and Canada Employee liability CIGNA Comprehensive General Liability Products/Completed Operations Automobile Liability CIGNA CIGNA CIGNA 01/10/94-01/10/95 01/10/94-01/10/95 01/10/94 - 01/10/95 01/10/94 - 01/10/95 $2,000,000 each accident $2,000,000 disease policy limit $2,000,000 disease each employee $3,000,000 per occurrence indemnity only (no aggregate) $5,000,000 per occurrence indemnityonly (no aggregate) S2,000/)00 per occurrence CSL indemnity only 11) Beazer West Inc Employers' Liability Pol No 04 XC 223 SCA Aetna Casualty & Surety oi/e/94-oye/9s $1,Q0Q-C<!0 each accident $1,000,000 disease policy limit $1,000/100 disease each employee III) FOREIGN LIABILITY Comprehensive General & Automobile Liability Pot No CXC03S328 Employers Liability Pol NoTBA CIGNA CIGNA IV) PEABODY HOLDING CO Employers Liability Pol No OBCO1S59202 1 Old Republic a Peabody b Lee Ranch Coal 01/08/94 - 01/08/95 01/8/94-01/8/95 $5,000,000 per occurrence $10,000,000 aggregate $5,000,000 per accident $5,000,000 aggregate per accident $5,000,000 aggregate disease 01/10/93-01/10/95 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee Employers Liability Pol No OBCO1550702 2 Old Republic V) TIDEWATER CONSTRUCTION CORPORATION Commercial General Liability Pol No Liberty Mutual RG1-651-0C4723-O74 01/10/94-01/10/95 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee ^_______ 01/3/94-01/3/95 $2,000,000 per occurrence 62/97411/D Page 1 of 2 Hanson PLC GLD056706 0049-GLD-000056706 Employes'liabilityPol Nos WC2-6510W723O34/064 awl WC36S1-004502134 Liberty Mutual Automobile Liability Pol Nos AS1-651004723-134/664 and AS1-651-0Q4SC2124 Liberty Mutual Owners and Contractors Liability Pol No LXJ-&51-004723553 Liberty Mutual 01/3/94-03/3/95 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee $250,000 SIR perclaim 01/3/94 - 01/3/95 $2,000,000per occurrence 01 /3/94 01/3/9S $2,000,000per occurrence Umbrella liability Pol No RT1-651004723694 Liberty Mutual 01/3/94 01/3/95 $8,000,000per occurrence VI) RIVERSIDE CEMENT COMPANY A CALIFORNIA GENERAL PARTNERSHIP including Riverside Cement Company Partin Limestone Products Company and RIC Company (Beazer West Inc) General liability Pol No GL0658G920 Zurich American Insurance Co 01/7/94 - 01/7/95 $5,000,000per occurrence $10,000,300 general aggregate $10,000,000 produets/complcted operations aggregate $5,000,000personal and advertising injury $50,000 fire damage $5,000 medical expense $250,000 loss limit Automobile Liability Pol No BAP6580921 Zurich American Insurance Co 01/7/94-01/7/95 $5,000,000 combined single limit $250,000 loss limit Excess Liability Poi No BE3088735 American International Ins Co 01/7/94-01/7/95 $10,000,000 excess primaries Excess Liability Pol No 79079904 Federal Insurance Co 01/7/94-01/7/95 $25,000,000 excess SID,000,000excess primaries Excess Liability Pol NO HXLF866051 and HXLC111683 Home Insurance Co Ql/7/94 - Ql/7/95 $10,000,000 excess $35,000,000 excess primaries VII) GIFFORD-HJLLAMERICAN INC General Liability Pol No CRR338592 Commercial Union Insurance Co Automobile Liability Pol No NRR261031 Excess liability Pol No CRDZ08088 Commercial Union Insurance Co Pacific Employers Insurance Co Employers'Liability Pol No WA2-190069731-013 Liberty Mutual 01/1/94 - 01/1/95 01/1/94 - 01/1/95 SI ,000,000 per occurrence $2,000,000 genera] aggregate $2,000,000 products/completed operations aggregate $1,000,000 personal and advertising injury $l,000,000combmed single limit 01/1/94-01/1/95 01/1/94 - 01/1/9S $4,000,000 peroccurrence $4,000,000 general aggregate $4,000,000 products/completcd operations aggregate $500,000 62/97412/D Page 2 of2 Hanson PLC GLD056707 0049-GLD-000056707 sea tJLE OF UNDERLYING INSUKAN S COVER INSURER REST OF WORLD PRIMARY POLICIES Public and ProductsLiability (including DIC/DIL for overseas territories) 100% EagleStar Insurance Group Public and Products liability (SCM Chemicals - Australia) 100% SwiCerland General Insurance Company TERM LIMIT OF INDEMNITY 01/10/91 30/09/92 1,000,000 any one occurrence, in aggregate lor Products Liability 01/10/91 - 30/09/92 A$5,OOO.MO each occurrence and in aggregate USA/CANADA PRIMARY POLICIES J) HANSON INDUSTRIES AND BEAZER EAST Employers Liability National Union ComprehensiveGeneral liability Products/ComplstedOperations II) FOREIGN LIABILITY Comprehensive General & Automobile liability Employers Liability National Unimi National Union Travelers Insurance Company Travelers Insurance Company 0I/10/9J - 01/10/92 $2,000,000 each accident $2,000,000 diseasepolicy limit 2,000,000 disease each employee 01/10/91 - 01/10/92 $3,000,000 per occurence - indemnity only (no aggregate) 01/10/91 - 01/12/92 $5,000,000 per occurrence indemnity oily (no aggregate) 01/10/91 - 01/10/92 01/10/91 - 01/10/92 $3,000,000 per occurence $10,000,000 Combinedsingle limitper aggregate $3,000,000 per accident $5,000,000 aggregate per accident $5,000,000 aggregate disease ni) HANSON NATURAL RESOURCES CORPORATION (CAVENHAM) Employers Liability National Union 01/06/91*01/01/92 $1,000,000 excess of$500,000 SIR -LA $1,000,000 excess of$250,000 SIR - MS JV) PEABODY COAL Employers Liability Old Republic 01/015*1-01/01/92 $100,000 each accident $500,000 disease policy limit $100,000 disease each employee V) INTERNATIONAL MINI WAREHOUSE ASSOCIATES Automobile Liability Hartford Insurance Company 03/01/92 - 03/01/93 Sl.OOO.OOOcombbedsingle limit Employers Liability Hartford Insurance Company 02/23/92 - 02/23/93 $100,000 each accident $300,000 each policy disease $100,000 each employee disease Cerumencal General Liability Allas Insurance Company 01/01/92 - 01/01/93 $1,000,000 each occurrence $2,000,000 general aggregate $1,000,000 products/completed operations aggregate Commercial General Liability Allas InsuranceCompany 01/01/92 - 01/01/93 $l,OOO,OOOpcrs0nalandadveitiBtnginjury Fire damage legal liability Waterdamage legal liability Umbrella Liability Chubb Insurance Group 01/02/92 - 01/02/93 $10,000,000per occurrence $10,000,000 produets/completed operations aggregate $10,000,000 general aggregate 62/57411/0 Page 27 of 27 Hanson Pic GLD056708 0049-GLD-000056708 SCHEDULE OF UNDERLYING INSURANCES COVER INSURER TERM LIMIT OF INDEMNITY REST OF WORLD PRIMARY POLICIES Public and Products Liability (including DIC/DIL for overseas territories Public and Products Liability (SCM Chemicals - Australia) 100% Eagle Star Insurance Group 100% Switzerland General Insurance Company 01/10/91-30/09/92 01/10/91-30/09/92 1,000,000 any one occurrence, in aggregate for Products liability A$S,000,000 each occurrence and in aggregate USA/CANADA PRIMARY POLICIES I) HANSOM INDUSTRIES Employers Liability National Union Comprehensive General Liability National Union Products/Complctcd Operations National Union Automobile liability National Union D) FOREIGN LIABILITY Comprehensive General & Automobile Travelers Insurance Company Liability Employers Liability Travelers Insurance Company IE) HANSON NATURAL RESOURCES CORPORATION (CAVENHAM) Employers Liability National Union IV) PEABODY COAL 01/10/91-01/10/92 $2,000,000 each accident $2,000,000 disease policy limit $2,000,000 disease each employee 01/10/91-01/10/92 $3,000,000 per occurrence . indemnity only (no aggregate) 01/10/91 -01/10/92 $5,000,000 per occurrence indemnity only (no aggregate) 01/10/91 -01/10/92 $2,000,000 per occurrence CSL indemnity only 01/10/91-01/10/92 01/10/91-01/10/92 $5,000/100 per occurrence $10,000,000 CSL peraggregate 55,000,000 per accident $5,000,000 aggregate per accident $5,000,000 aggregate disease 01/06/91-01/01/92 51,000,000 excess of $500,000 SIR LA 51,000,000 excess of $250,000 SIR-MS Employers Liability Old Republic 01/01/91-01/01/92 $100,000 each accident $500,000 disease policy limit $100,000 disease each employee 62/97411/D Page 27 of 27 Hanson PLC GLD056709 0049-GLD-000056709 ATTACHMENT 1 SCHEDULE OF UNDERLYING INSURANCES Period of Insurance: 1st October 1992/30th September 1993 COVER INSURER REST Of WORLD PRIMARY POLICIES TERM LIMIT OF INDEMNITY Public and Products Liability (including DIC/DIL for overseas territories Public and Productsliability (SCM Chemicals - Australia) 100% Eagle Star Insurance Group 100% Switzerland General Insurance Company 01/10/92- 30/09/93 1,000,000 any soe occurrence, in aggregate for Products Liability 01/10/92 - 30/09/93 ASS,000,000 each occurrence and in aggregate USA/CANADA PRIMARY POUCHES 1) HANSON INDUSTRIES - Domestic USA and Canada Employers liability National Union Comprehensive General Liability Products/Completed Operations Automobile Liability National Union National Union National Union 01/10/92-01/10/93 $2,000,000 each accident $2,000,000 disease policy limit $2,000,000 disease each employee 01/10/92 - 01/10/83 $3,000,000 per occurrence indemnity only (no aggregate) 01/10/92-01/10/93 $5,000,000 per occurrence indemnity only (no aggregate) 01/10/92-01/10/93 $2,000,000 per occurrence CSL indemnity only IT) Beazer West Inc Employers' Liability Pol No 08XC210SCA Aetna Casualty & Surety Genera) Liability Pol No GL01423786 Zurich American Insurance Co Automobile Liability Pol No BAP 14237S5(nonTexas States) Automobile Liability Pol No TAP 1423787 (Texas) HI) FOREIGN LIABILITY Comprehensive General & Automobile Liability Poi No ILK-PC-63U743-A-92 Employers Liability Pol No ILK-PC63U743_A-92 Zurich American Insurance CO Zurich American Insurance Co Travelers Insurance Company Travelers Insurance Company IV) PEABODY COAL Employers Liability Old Republic 01/10/92 - Cl/10/93 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee 01/10/92-01/10/93 01/10/92-01/10/93 01/10/92-01/10/93 $10,000,000 General Aggregate $1(1000,000 Products/Completed Operations Aggregate $5,000,000 Each occurrence $5,000,000 Personal and Advertising Injury $50,000 Fire Damage $5,000 Medical Expenses $500,000 SIR each occurrence $5,000,000 Combined Single Limit $500,000 SIR each occurrence 55,000,000 Combined Single Limit $500,000 SIR each occurrence 01/10/92-01/10/93 01/10/92-01/10/93 $5,000,000 per occurrence $10,000,000 aggregate $5,000,000 per accident $5,000,000 aggregate per accident $5,000,000 aggregate disease 01/01/92 -01/01/ $100,000 each accident $500,000 disease policy limit $100,000 disease each employee 62/97411/D Page 1 o! 3 Hanson PLC GLD056710 0049-GLD-000056710 V) TIDEWATER CONSTRUCTION CORPORATION Commercial General liability Pol No Liberty Mutual RG1-651-004723-073 Employers' liability Pol Nos WC2-651004723-033/063and WC2-651-OG4502133 Liberty Mutual Automobile Liability Pol Nos AS1-651004723-133/663 and AS1-651-004502123 Liberty Mutual Owners and Contractors liability Pol No LX1-651-004723-S53 Liberty Mutual 01/10/92-01/10/93 01/10/92-01/10/93 $2,000,000per occurrence $100,000 deductible $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee $250,000 SIR per claim 01/10/92 - 01/10/93 $2,000,000 per occurrence 01/10/92-01/10/93 $2/00,000per occurrence Umbrella Liability Pol No RT1-651004723-693 American International Group 01/10/92 * 01/10/93 $8,000,000 per occurrence VI) NORTH TEXAS CEMENT COMPANY (A 50% OWNED JOINT VENTURE OF BEAZER WEST INC) General liability Pol No GL06821427 Zurich American Insurance Co 01/10/92 - 01/10/93 $3,000,000 per occurrence $5,000,000 general aggregate $5,000,000 prodtuts/completed operations aggregate $3,000,000 personal and advertising injury $50,00 fire damage $5,000 medical expenses Automobile Liability Pol NoTAP6821 - 426 Zurich American Insurance Co 01/10/92 - 01/10/93 $2,000,000 combined single limit Employers'Liability Pol No WC6821428 Zurich American Insurance Co 01/10/92 - 01/10/93 $2,000,000 VII) RIVERSIDE CEMENT COMPANY A CALIFORNIA GENERAL PARTNERSHIP General Liability Pol No GL05580919 Zurich American Insurance Co 01/10/92 - M/10/93 $5,000,000 per occurrence $10,000,000 general aggregate $10,000,000 products/completed operations aggregate $5,000,000 personal and advertising injury $50,000 Ore damage $5,000 medical expense $500,000 SIR each occurrence Automobile Liability Pol No BAP6580920 Excess Liability Pol No BE30S873S Zurich American Insurance Co American International Ins Co 01/10/92 - 01/10/93 01/10/92 - 01/10/93 $5,000,000 combined single limit $500,000 SIR each occurrence $10,000,000 excess primaries Excess Liability Po! No 79079904 Federal Insurance Co 01/10/92 - 01/10/93 $25,000,000 excess $10,000,000 excess primaries Excess LiabilityPol No KXLF&660S1 Home Insurance Co 01/10/92 - 01/10/93 $10,000,000 excess $35,000,000 excess primaries 62/97411/D Page 2 of 3 Hanson PLC GLD056711 0049-GLD-000056711 VHI) GIFFORD-HILLAMERICAN INC General liability Pol No CRR338592 Commercial Union Insurance Co Automobile LiabilityPol No NRR261031 Excess Liability Pol No BE3088735 Commercial Unioa Insurance Co Pacific Employers Insurance Co Employers' Liability Pol No WA2-190089731-013 Liberty Mutual (IX) INTERNATIONAL MINI WAREHOUSEASSOCIATES Automobile Liability Hartford Insurance Company Employers Liability Hartford Insurance Company Commercial General Liability Atlas InsuranceCompany Umbrella Liability Chubb Insurance Group 01/10/92 * 01/10/93 $1,000,000 peroccurrence $2,000,000 genera] aggregate $2,000,000producte/completed operations aggregate $1,000,000 personal and advertising injury 01/10/92*01/10/93 51,000,000 combined single limit 01/10/92-01/10/93 01/10/92-01/10/93 $4,000,000 per occurrence 54,000,01X1 general aggregate $4,000,000 ptoducts/completed operationsaggregate 5500,000 01/10/92 - 01/10/93 $1,000,000 combined single limit 01/10/92 - 01/10/93 $100,000 each accident $500,000 disease policy limit 5100,000 each employee disease 01/01/92 - 01/10/93 51,000,000per occurrence $2,000,000 general aggregate $1,000,000 products/completed operations aggregate 51.000.000 personal and advertising injury fire damage legal liability water damage legal liability 01/10/92 - 01/10/93 $10,000,000 per occurrence $10,000,000 general aggregate 510.000.000 products/completed operations aggregate 62/97411/D Page 3 of 3 Hanson PLC GLD056712 0049-GLD-000056712 ATTACHMENT 2 SCHEDULE OF UNDERLYING INSURANCES Period of Insurance: 1st October 1993/30th September 1994 COVER INSURER TERM LIMIT OF INDEMNITY REST OP WORLD PRIMARY POLICIES Public and Products Liability (including D1C/DEL for overseas territories Public and Products Liability (SCM Chemicals Australia) 100% Eagle StarInsurance Group 100% Switzerland General Insurance Company 01/10/93 - 30/09/94 l/X)O,0CO any one occurrence, in aggregate forProducts Liability 01/10/93 * 30/09/94 AS5/)00,OOQ each occurrence and in aggregate USA/CANADA PRIMARY POLICIES I) HANSON INDUSTRIES - Domestic USA and Canada Employers Liability CIGNA Comprehensive General Liability Ptcducts/Compteted Operations Automobile Liability CIGNA CIGNA CIGNA 01AO/93-01/10/94 52,000,000 each accident 52,000,000 disease policy limit $2,000,000 disease each employee 01/10/93-01/10/94 53,000,000 per occurrence indemnity only (no aggregate) 01/10/93-01/10/94 55,000,000 per occurrence indemnity only (no aggregate) 01/10/93-01/10/94 52,000,000 per occurrence CSLindemnity only II) Bcazer West Inc Employers'LiabilityPol No 08XC21CSCA Aetna Casualty & Surety III) FOREIGN LIABILITY Comprehensive General & Automobile Liability Pol No ILK-PC-63U743-A-93 Employers Liability Pol No ILK-PC631J743-A-93 Travelers Insurance Company Travelers Insurance Company IV) PEABODY COAL Employers liability Old Republic V) TIDEWATER CONSTRUCTION CORPORATION Commercial General Liability Pol No Liberty Mutual RG1-651-004723-073 Employers' Liability Pol Nos WC2-6S1004723-033/063 and WC2-6S1-004502133 Liberty Mutual Automobile Liability Pol Nos AS1-6S1004723-133/663 and AS1-651-004502123 Liberty Mutual 01/10/93 - 01/10/94 $1,000,000 each accident 51,000,000 disease policy limit $1,000,000 disease each employee 01/10/93-01/10/94 01/10/93 - 01/10/94 55.000.000 per occurrence 510.000.000 aggregate SS,000,000 peraccident $5,000,000 aggregate per accident $5,QQ0,(X)Q aggregate disease 01/01/93-01/01/94 51,000,000 each accident 51,000,000 disease policy limit $1,000,000 disease each employee 01AO/93-01AO/94 01/10/93-01/10/94 52,000/100per occurrence 5100.000 deductible 51,000,000 each accident $1,000/100 disease policy limit 51,000,000 disease each employee 5250.000 SIR per claim 01/10/93-01/10/94 52,000,000 peroccurrence 62/97411/D Page lof 3 Hanson PLC GLD056713 0049-GLD-000056713 Owners and Contractors liability Pol No LX1-6514XM723-5S3 Liberty Mutual 01/10/93-01/10/94 $2,000,000 peroccurrence Umbrella Liability Pol No RT1-&51004723-693 American International Group 01/10/93 - 01/10/94 $8,000,000 peroccurrence VI) NORTH TEXAS CEMENT COMPANY (A S0% OWNED JOINT VENTURE OFBEA2ER WEST INC) General Liability Pol No GL06S21427 Zurich American Insurance Co 01/10/93-01/10/94 $3,000,COD peroccurrence $5,000,000 general aggregate $5,000,000 produris/completed operations aggregate 53,000,000 personal and advertising injury $50,00 fire damage $5,000 medical expenses Automobile Liability Pol No TAP6821 426 Zurich American Insurance Co 01/10/93 - 01/10/94 $2,000,000 combined single limit Employers' Liability Pol No WC6821428 Zurich American Insurance Co 01/10/93-01/10/94 12,000,000 VH) RIVERSIDE CEMENTCOMPANY A CALIFORNIA GENERAL PARTNERSHIP General Liability Pol No GLQ6S8G919 Zurich American Insurance Co 01/10/93 - 01/10/94 $5,000,000 peroccurrence $10,000/100 general aggregate $10,000/100 products/completed operations aggregate 55,000,000 personal and advertising .injuiy 550,000 fire damage $5,000 medical expense $500,000 SIR each occurrence Automobile Liability Pol No BAP6580920 Zurich American Insurance Co 01/10/93 01/10/94 $5/00,000 combined single limit $500,000 SIR each occurrence F.WES.C Liability Pol No BE308&735 American International Ins Co 01/10/93 - 01/10/94 510,000,000 excess primaries Excess Liability Pol No 79079904 Federal Insurance Co 01/10/93 - 01/10/94 $25,000,000 excess $10,000,000 excess primaries Excess Liability Pol No KXLF866Q51 Home Insurance Co 01/10/93 - 01/10/94 $10,000/100 excess 535,000,000 excess primaries VEH) OIFFORD-HILL AMERICAN INC General Liability Pol No CRR338S93 Commercial Union Insurance Co Automobile Lability Pol No NRR261Q31 Excess Liability Pol No CRDZ06C88 Commercial Union Insurance Co Pacific Employers Insurance Co Employers' Liability Pol No NVA2-190089731-013 Liberty Mutual 01/10/93 - 01/10/94 $1,000,000 per occurrence $2,000,000 general aggregate $2,000,000 products/completed operations aggregate $1,000,000 personal and advertising injury 01/10/93 - 01/10/94 $1,000,000 combined single limit 01/10/93 - 01/10/94 01/10/93 - 01/10/94 $4,000,000per occurrence $4,000,000 general aggregate $4,000,000 products/completed operations aggregate $500,000 62/97411/D Page 2 of 3 Hanson PLC GLD056714 0049-GLD-000056714 (IX) INTERNATIONAL MINI WAREHOUSE ASSOCIATES Automobile Liability Hartford Insurance Company Employers Liability Hartford Insurance Company Commercial General Liability Atlas IosuranceCompany Umbrella Liability Chubb Insurance Group 01/10/93 - 01/10/94 SI,000,000 mwfrjnH ini* 01/10/93 - 01/10/94 $100,000 each accident $500,000 disease policy limit $100,000 each employee disease 01/10/93 - 01/10/94 $1,000,000 per occurrence $2,000,000 general aggregate $1,000,000 products/completed operations aggregate $1,000,000 personal and advertising injtuy fire damage legal liability waterdamage legal liability 01/10/93-01/10/94 $5,000,000 per occurrence $5,000,000 aggregate 62/97411/D Page 3 of 3 Hanson PLC GLD056715 0049-GLD-000056715 Memorandum No 15 attaching to and forming part of Policy No 62/97411/D in the name of Hanson PLC and all Subsidiary and/or Associated Companies It is agreed that as from the 1st October 1994 this Policy is amended to include coverage as follows:- The Company shall only be required to pay on behalfofthe Insured sums which the Insured becomes obligated to pay for the require removal or repair of any Product of the Insured including concrete cement sand or aggregate concrete blocks concrete products or other products manufactured sold handled or distributed by or on behalfofdie Insured which is determined to be defective This coverage shall be limited to:- A The lesser of: 1 the Insured's actual cost or removing or replacing any of the above items but specifically excluding the original cost of such goods or products 2 the Insured's actual cost of remedial action taken to avoid removal or replacement of such products B Damage to property of others including loss of use thereof and/or consequential Business Interruption resulting from necessary removal replacement or remedial action as provided in A above Items A and B above shall not be covered unless the occurrence causing the above arose out of an error in design prescription manufacture blending mixing or compounding of such products and die repair replacement or removal is necessary because such products is defective and has been rejected by the owner his authorised representative municipality or other authority having jurisdiction Defective shall mean the Insured's products which upon testing by an accredited independent testing agency do not meet the contractual specifications or accepted standards required for the specific construction in which such materials were incorporated If the above coverage is provided in the Policy we shall be excess If the coverage is provided in the primary policy we shall be excess of a Self-Insured Retention of US$1,000,000 each and every occurrence Nil aggregate excluding expenses This Self-Insured Retention shall be composed of indemnity payments only and is not to be eroded by defence costs All other terms and conditions ofthis policy remains unchanged It is further agreed that the deductible in respect ofthe above Rip and Tear coverage is US$5,000,000 Subject otherwise to the terms exceptions and conditions ofthe Policy Date: 18 August 1995 Exmd: Signed For and on behalfof Gerling Konzern General Insurance Company -UK Branch 6LD056716 0049-G LD-000056716 ATTACHMENT 1 SCHEDULE OF UNDERLYING INSURANCES Period of Insurance*. 1st October 1994/30th September 1995 COVER INSURER REST OF WORLD PRIMARY POLICIES TERM LIMIT OF INDE baifiLHHS Public anti Products Liability (including DIC/DEL for overeeas territories Public and Products Liability (SCM Chemicals - Australia) Motor Insurance Pol No 99147715 100%Eagle Star Insurance Group 100% Switzerland General Insurance Company Eagle Star Insurance Company 01/1004* 30/09/95 01/1094 - 30/09/95 01/10/94-30/09/95 1,000,000 any one occurrence, in aggregate for Products Liability AS5,000,000 each occurrence and in aggregate 1,000,000 any one occurrence for airside liability USA/CANADA PRIMARY POLICIES I) HANSON INDUSTRIES - Domestic USA and Canada Employers Liability CIGNA Comprehensive General Liability Products/Completed Operations Automobile Liability CIGNA CIGNA CIGNA 01/10,94-01/10/95 01/10/94-01/10/95 01/10/94-01/10/95 01/10/94-01/10/95 $2,000,000 each accident $2,000,000 disease policy limit $2,000,000 disease each employee $3,000,000 per occurrence indemnity only (no aggregate) $5,000,000 per occurrence indemnity only (no aggregate) $2,000,000 per occurrence CSL indemnity only II) Beazer West Inc Employers' Liability Pol No 04 XC 223 SCA Aetna Casualty & Surety III) FOREIGN LIABILITY Comprehensive Genera] & Automobile Liability Pol No CXC035328 Employers Liability Pol No TBA CIGNA CIGNA IV) PEABODY HOLDING CO Employers Liability Pol No OBCO1559202 1 Old Republic a Peabody b Lee Ranch Coal Employers Liability Pul No OBCO1550702 2 Old Republic V) TIDEWATER CONSTRUCTION CORPORATION Commercial General Liability Pol No Liberty Mutual RGI-6S1-004723-074 Employers'Liability Pol Nos WC2-651004723-034/064 and WC2-651-0045C2134 Liberty Mutual 01/8/94-01/8/95 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee 01/10/94 - 01/10/95 01/8/94-01/8/95 $5,000,000 per occurrence $10,000,000 aggregate $5,000,000 per accident $5,000,000 aggregate per accident $5,000,000 aggregate disease 01/1C/93-01/10/95 $1,000,000 each accident $1,000,000 disease policy limit S1,000,000 disease each employee 01/1C/94-01/10/95 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee 01/3/94-01/3/95 01/3/94-01/3/95 $2,000,000 per occurrence $100,000 deductible $1,000,000 each accident $1,000,000 disease policy limit S1,000,000 disease each employee $250,000 SIR per claim 62/974U/D Page I of2 Hanson PLC GLD056717 0049-GLD-000056717 Employers' Liability Pol Nos WC2-651 004723-034/064 and WC2-651-004502134 Liberty Mutual Automobile Liability Pol Nos AS1-651004723-134/664 and ASI-651-O04SQ2124 Liberty Mutual Owners and Contractors Liability Pol No LX1-651-004723-554 Liberty Mutual Umbrella Liability Pol No RT1-651004723-694 Liberty Mutual VI) GIFFORD-HIIX AMERICAN, INC General Liability Pol No CRR33S592 Commercial Union Insurance Co Automobile Liability Pol NoNRR26l 031 Excess Liability Pol No CRJDZ08088 Commercial Union Insurance Co PacificEmployers Insurance Co Employers' Liability Pol No WA2-19Q089731-013 Liberty Mutual 01/3/94-01/3/95 01/3/94-01/3/95 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee $250,000 SIR per claim $2,000,000 per occurrence 01/3/94-01/3/95 $2,000,000 per occurrence 01/3/94-01/3/95 $8,000,000 per occurrence 01/1/94-01/1/95 01/1/94-01/1/95 01/1/94 - 01/1/95 01/1/94 - 01/1/95 $1,000,000 per occurrence $2,000,000 general aggregate $2,000,000 products/completed operations aggregate 51,000,000 personal and advertising injury $1,000,000 combined single limit $4,000,000 per occurrence $4,000,000 general aggregate $4,000,000 products/completed operations aggregate $500,000 62/974] 1/0 Page 2 of2 Hanson PLC GLD056718 0049-GLD-000056718 Auviu ri^ bviiiivn nn-BMi in*/ H 1?1 ill 2705 P*} J.8 { 21 McBna4an No 16 attaching to ud forming part of Policy No 62/97411/D to the nano of Hanson FLC Subject to payment oftoo Renewal Premium to toe Company It is agreed that this Policy is renewed for a further Period ofInsurance as stated below PERIOD OF INSURANCE: From 1 October, 1995 ) both days To 30 September, 1996 ) inclusive RENEWAL PREMIUM: USS941.177.00 in foil INSURANCE PREMIUM TAX: US$1,910.23 payable in addition to the above It is fortberagreed that with effect from 1 October 199$: (1) the Policy Number is amended to read as 62/900100/D and not as heretofore (2) toe Schedule of Underlying Insurances is cancelled and replaced by Attachment I hereto Subject otherwise to toe teems exceptions and conditions of toe Policy Date: 6 March 1996 | Exmd: Stpirf For and en behalf of Ceritog Konzern General Insurance Company -UK Branch 62/900100/D Page I or4 Htnten PLC GLD056719 0049-GLD-000056719 1A I fc- im-8/-n t*;v a in 121 27BV Ml# <. B{ 21 ATTACHMENT! SCHEDULE OP UNDERLYING INSURANCES Period ofInsurance: 1 October 1995/30 September 1990 COVER INSURER *C5T orWOULD PRIMARYrouencs Public and Protects Liability (ioclta&tf DfG/DILfer overseas territories) Public mi Products Liability (SCM Onalelt - Australia) 100S Eafle Star (aauraice Group IOOS Sorttmriaod GenanJ bmxc Company TERM l imit OFIWPEMN1TV 01/1095 - 30/091*6 01/10/9}-30/09/96 i,000.000Ky one occurence, in gpaple Ibr Prodacta LUbUtty ASS/MAMO each occumact and taa**te*ase U8VCANASAHUMARY POUCOS f> RAMSON lNDUmim - DamMc USAIM Cmada Emptoyets' Liability (a) CIGNA Employers'Uabilfey (b) MBMIC Catapwimaalwa General Liability Prodoea/CanplaMd OperaOoss AiOatnoiUt Liability CIGNA CIGNA aoxA 61/10/95- 01/10/96 52.000.000each Kcidcot 52.000.000 dtsewe policy limit 12.000.000 dlaaast each employe 01/1095-01/10*6 51.000.000 each accident 51.000.000 dtasaaa polky limit 1).060.000 dbeaer each employee 01/10*5-01/10*6 $3,000,000 par occurrence IndnmUjr imi7 { 01/10*5-01/10*6 55,000,000 peroaniKcnee indemnity only(no sfpegne) 01/10*5 01/10*6 S2.000.000 per occurrence CSL indemnityonly Z lourWMjoe Employers'Liability/Exccsi WtfkaM'i Com^pensation Pol Ho08 XC223 SCA Aetna Casualty A Surety >1/1*5.01/8/96 51.000,000 each icclder.! $,1,.006.000disease pol>.c.> li.m. it eSm1.0pOloOy.eneOOdisc3SC each ZB) PCASODY HOLDING CO Employer* Liability Pol No OBCOl 559202 Employers Liability Pol No 08C013J0702 Old Repute Peabody b Lee Ranch Coal 2 Old Republic 01/10*5 - 01/10/90 51,000,000 cadi accident $1,000,000 disease policy Umh St.000,000 disease each employee 01/1093-01/1096 51,000,000 each accident 51.000.000disease policy limit 51.000.000disease each employee 62*00!00/D P**e2cf4 Hansen PLC 0049-GLD-000056720 SOttXJN* MIN0UN im-87-ll ii:0| l?l U? 2?B& p.,t 5.J ,f 2, IV) TISCWATUt CONSTRUCTION CORPORATION Commercial Ganenl Liability Pol No tibeny Mutual *01-451-00*723-075 employers* LUbBity PoiNos WC2-63100*723-035*65 anO WC2-631-CO*5Q2- 135 UbenyMumal AmwwiMla Liability Pol Noa AS1-65100*723-135/665 and ASl-651-00*502125 Liberty Mutual Ownen and Cootmetort UaMfcy Pol No 1X1451-00*723-555 Liberty Mutual Umbrella LUbUky Pol No RT1-6JI 00*923495 Watercrafi Liability Liberty Mutual Arkwright, Utica MrauaL Xehmoe V)OTFO*D-HIIX AMERICAN. INC Cwiial Liability Pol No CRR331S92 Commercial Union lanumceCo ABBnwWe Liability Pol Not ARR463002andCRR463001 - Excess Liability Pol No CRD23356 ComroercmUaioa Insurance Co Commercial Union Imurmwc Co Employers* Liability Pol No WA2-190009731415 Liberty Mutual VI) DEUTSCHE CHOVE <GmbH. WObdassbavea) Public/Products Liabitln HIM Euen Environmental I.iahthiy 1 ID! Essen 01/3*5-01/3*6 01/3*5-01/3*6 01/3*5-01/3*6 32.000.000 par accursancc SI 00.000 *e*ectltils St.OO.0OOMCftcUent SI ,000.000 iliiM policy limit 31,000,000 dlaaaaa aadt employee 3250.000 SIR par claim 32,006,000 pc? occurrence 01/3*5-01#*6 B.000.000 per aecumjwt 01/3/93-01/3/96 01/3*6-01/3*6 51,000,000 per oocwrencc 340,000,000 cxeccs of310,000,000 excess ofunderiytaf amounts 01/1/95-01/1/96 01/1*5 Oi/t/96 01/1*5 - 01/1*6 01/1*5-01/1*6 $1,000,000 per Occurrence 32^)00,000 pmcral aggregate 3n2p.0M0T0.i0iH00proOmaa/cwnplacC 31.000.000 ariventfini injury 31.000,000 combined single Unit 34,000,000 peroccunence 34.000.000 general aggregate 54.000.000 pmdnctl/coniplcterl opemtiom aggttgate $500,000 per occurrence OI**5 -01**6 01/9*5-01/9*6 DMIO.OOO.tXKJ DM2O.O0O.OOOl 62*00(OO/D Page 3 Of4 Hanson PLC GLD056721 0049-GLD-000056721 tUIVI I Hi) /> ' 4 VTO MtVDOCKMriLDEW EWTOtFItlSES, AMRVtatarc Emplon' LiabilUy tot No WCI491* liberty 004116441 Orot-nKlLUl"MUtyMNoROMSU 0041HK>3 UbMyMmnaf >URDBcW!UbUltyPo(NoAS2<63l* M4U6434 VabnlitUiblUty PoiHoHTl431- 004111-4*4 Liberty Mutual Utw* Mutual im-SV-U U:n 44 I7l 921 2784 pgt (.8 of Jj C2/UW4'02/5/96 02/11/94-02/3/96 $900,000 eacti acadenl $900,000 tfmw-yelky limit $500,000 dlWK- udi crapteyt! $2,000,000 cacti oommtM* $2,000,000 general eiffcgtie $2,000,000 completed <oponOsA 02/1 l/M >01/3/96 $2,000,000 each aecMetit 02/11M >01/3/96 $1,000,000 c u c h ofgrimiflM &900100/D Peg* 4 of4 HuuonTLC GLD056722 0049-GLD-000056722 SOtlflI HC tONJDN U X ?1 U1 J78S ,4|, 7.g #E 2, Memorandum No 17 attaching to and forming part of Policy No 62/900100/D Is the name of Hanson PLC and all Subsidiary and/or Associated Companies It is agreed that as from die (i) 1st October 1995 the Schedule of Underlying Insurances is cancelled and replaced by Attachment 1 hereto (ii) 1st March 1996 the Insured's Subsidiary Company Suburban Propane having been sold the insurance provided by this Policy in respect thereof is cancelled in consideration of which * "* there is a return premium ofUS$61,744.44 due to the Insumi Subject otherwise to the terms exceptions and conditions ofdie Policy Date: 17 June 1996 Rimdi ^ Signed For turd on behalfof Gerilng Konzern General Insurance Company -UK Branch 0049-GLD-000056723 (IVVJIllUi t>WM D VH lVH-BV-ii Uj BS Ml l?l J9 279% p*9e j.e B{ z, Memorandum No 18 iMxc&iaf to sod forming port of Policy No 62/900100/D in die some of Hanson PLC sod all Subsidiary and/or Associated Companies It is agreed that as from the (i) 12th October 1994 Phillips Yeast Products Limited are included within the Subsidiary and/or Associated Companies of the Insured 2nd November 1994 die Insured shall include the Joint Venture between the Insured's Subsidiary Company Tidewater Construction Corporation and Kiewit Construction known as ~ ` " `IdePs Enterprises in respect of the construction of a Drydock Extension for n Skipbuilding and Drydock Corporation : (a) Dxydock Builders Enterprises shall observe and he subject to the terms ofthis Policy nduct and control ofall claims for Which the Company may be liable hereby are vested in the Company 11th November 1994 the Insured shall include the Joint Venture between the Insured's . Subsidiary Company Tidewater Construction Corporation and Kiewit Construction known as Drydock Builder's Enterprises in respect of the construction of HOV lanes for the Virginia Department ofTransportation Provided that (a) Drydock Builders Enterprises shall observe and be subject to the terms ofthis Policy (b) the conduct and control ofall claims for which the Company may be liable hereby are vested in the Company (tv) 1st February 1995 Riverside Cement Company are no longer deemed to be a Subsidiary and/or Associated Company ofthe Insured (v) 8th February 1995 the Insured's Subsidiary Company Beazer USA Inc has changed its name to Cornerstone Construction and Materials Inc (vi) 1st April 1995 Boral Resources Inc are included within the Subsidiary and/or Associated Companies of the Insured (vii) 1st June 1995 the Insured's Non-Core USA Businesses are no longer deemed to be Subsidiary and/or Associated Companies of The Insured in consideration of which there is a return premium of US$44tQOO.OO due to the Insured (viii) 1st September 1995 Deutsche Grove GmbH is included within the Subsidiary and/or Associated Companies of the Insured Subject otherwise to the terms exceptions and conditions ofthe Policy Date: 20 June 1996 Exmd: Signed For and on behalfof Gerling Konzers General Insurance Company -UK Branch ft if c , cim-ut-n u:vv " *' Hft 1.6 *i 21 ATTACHMENT 1 SCHEDULE OF UNDERLYING INSURANCES Period ofImanwct: 1 October 199S/39 September t996 COVER in s u r er tXCTOPWWU RIMAKV POLICIES PuMfc andProduct! Liability <toetoffin* mCTILfcrWtiMilWlWii) PwMte aodProducts UabHtty (5CM CVmktli-AwwIW tOOH Eatfc star Iu mt o mc Group IIXIX3ltarilll4QiwwHmum< Conwy TEEM LtMtT-PFJNMMTUTY 0I/IQ95-30/C996 omom.xvoMM 1,000,900 My oaa occurrence, in romWsferProducts UW>UHy to ** ttUACANABA MUMAMY POLICIES 2) HANSON INDUSTRIES Dwotk ESA a4 Cawkdi Emptoyn* Liability <) CIGNA Employes!'Liability (M MCMIC Cimanlinulva Gapwl URriBiy WwhwOwHttrfOpewioM Awomobite LiiUlliy atm aanA aoNA OI/IOW> Ot/UWK $2,000,006 are* accident SMOO.OOO Imm policy limit S200.000dbMtecadi luiplnyua 01/1093-014096 $1,000,000 tcfa acetocu $1,000400 dimes poHcyllraH SI .OOILOOO (tame each onptoyeu 01/109$-01/1096 S3O00-900 pn wwtuca Mrealil unly MK#wa) 01/1095 >01/1096 S3.9OO.P00 par owiamu Udsiiaiky oitiy tao *$PtWe) 01/1095-01/1096 $2,000.000 pet occurrence CSL indemnity only H> Bcncr Wrst Jbc Employer*' Liability/Excess Wotfcmen* CompensationPol No 0* XC 223 SCA Aeou Casualty A Surety in) PCABOOV HOLDING CO CmpSeyen Liability Pul Mo OBC0IS39202 Employee Liability Pol No OBCOI33C702 I Old Republic * Peabody fa Ue Reach Coal 2 Old Republic 01995 .Ol/B/96 S1.000.000 each accident St.000.000 disease ptilicj limit S1.OOC.OOC disease each employee 01/1095 01/1096 $1,000,000each accident SI ,000,000 dlwuc pulley limit $1,000,000disease etch employee 01/1095.014096 SI .000.000 each accident $1,000,000 dbeare pulley Ihnii SI ,000.000 disease each employee 2/900t0OD Pa$e2or4 Hanson PLC 0049-GLD-000056725 mH4 iOMJON l. 11H-I7-11 11:41 c 41 171 1 m& p4Jf i 9 #f 2, iv> tHkEWAix* c o n s t r u c t io n c o r p o r a t io n Commercial Gonial Liability Pot Na liberty Medal RCl*45l*004733475 Bmafoyet* liability PWNmWCMSI004133-035/MS and WC2-65I-004S02. 135 Liberty Mutual fl--nmnlini Liability M No*ASt-651* 004723-135/665 and AS1-6J1-004560* 125 LAertyMuba! Omen and Camden UaMIbjr Pol No L3a*651-004723*553 UbtnyMml UMMIa LUtoaty Pol No KT145I004723*695 Wancnt Liability Liberty Mutual AifcwtiaM, Uttea MtmaL Ratinee 01/3/95.01/3/96 01/3/95 01/3/96 01/3/95 01/3/96 32000400 par occanawc 5100.000 Irtwaii 31,000400 eodiaeaMam $1,000,000 diaeam policy Unit $1.000400 dlaeaia aoeft employee S2S0.000SIR pff debit 32,000.000 peroccurrence 010/93*01/3/96 32400400 paroceuneaa 01A/93 - 01/3/96 OIA/95 * 01/3/96 SROOQ.OOO parooctatoKC S40.000.000 eareesaofS10,000,400 eww cfuaOriijlni moan v> divcmiMnu* Ame r ic a n , in c Omni U4UBV Pel No CRM34592 CoowatfcUI Umq b bnaranct Co < AmeoeHIc LbfelUtr Pel Ntw AXR463002 mm* CKM63001 8mm* LM% PolNt>C*DM3S4 CoamcreW UMee Immaee Ca Commercial Uetoelnmrancc Co Employers' Liability Pol No WA2-I90* 049731-015 Liberty Mutual 01/1/95*01/1/96 01/1/95*01/1/96 01/1/95-01/1/96 01/1/95*01/1/96 31400,060 per occutnace 3^000,000 pmcral agprcgaie 33.000,000 producedcomputed operdiaM a|$Kfate Si.000,000 adeenlfltii byury 5 L00040Cobinc4 staple Brail 34,000,000 peroccurrence $4400.000 peaenl appregate 34400.000 pmtfaea/coiRpIttcO ooendoramvctde 5500.000 per occurrence : VJ> DEUTSCHE CROVE (CakH. WUbclnibtvu Public/Pt-oduco Liability HDI Euen Environmental l-Uhilily IIDi Euen 01/9/95-01/9/96 OI/9/9J-01/9/96 DMIO.OOO.000 : PM20.000.OCOi 62/900!OO/D PlC* 3of4 Hmon PLC GLD056726 0049-GLD-000056726 leviiiu; 4 ( V|Q pRYPOCKMflLMItS ENIXWIU8B8,AMit Vi*ar* 00III6441 V*" Ganm) UaMttrPet No R01-65I* 001116-004 Liberty Matual Astoaobfi* UatfltyPol No AS3-C91- 0MU64D4 Umbrella LlabBhy M No RTt<65I> 004116044 Liberty Motxurt LaoKyMea* IHHMl II: VI ** 11 tit I7gS p4f, i.j ,, wtim-mam 03/11/94*02/9/96 ssoMootwantxUwt $300000 Ifecw- golfer limit $300,0004fecae&!>employee >3.000.000ndi otwmiiw $2,900,000 general aggregate $3.000,000 wwglw4 oyre4ai C3SIUH0US*6 SXjOOOjOOOtKfcKCWlH 02/1 IA4-.01/3ff6 gt.000.000 meet ofprim*** 62/900100/D Page 4 of4 HtmonPLC GLD056727 0049-GLD-000056727 lOVftIHC LOHltN .......... -'LiU * m^TM> *r.i* *** m m ms h i* ?.i if 2* Mnorudai No 17 attaching to and forming port of Policy No 62/900100/D in th* Dome of Hanson PLC and all Subsidiary and/or Anodatad Companies It is agreed that as from the <l) 1st October 1995 tbe Schedule of Underlying Insurances is cancelled and replaced by Attachment 1 hereto (il) 1st March 1996 die Insured's Subsidiary Company Suburban Propane having been sold the insurance provided by this Policy in respect thereof is cancelled in consideration of which A thens is a return premiumofUSt6l,744.44 due to the Insured Subject otherwise to die terms exceptions and conditions of die Policy Date: 17 June 1996 Exmd: ^ Per and on behalfof Gerllug Konaern General Insurance Company UK Branch > *, N ^_ GLD056728 0049-GLD-000056728 yutno ** tuflpun cim-17-11 J:N h i? m tm >4,t .8 { n Memorandum No 18 attaching to and forabag part of Policy No 62/900100/D in the sane of Hanson PLC and alt Subsidiary and/or Associated Companies It is agreed that as from the (i) 12th October 1994 Phillips Yeast Products Limited arc included within the Subsidiary and/or Associated Companies ofthe Insured 2nd November 1994 the Insured shall include the Joint Venture between the Insured's KSubsidiary Company Tidewater Construction Corporation and Kiewit Construction known as Drydock Builder's Enterprises in respect of the construction of a Drydock Extension for Newport News Shipbuilding and Drydock Corporation Provided that (a) Drydock Builders Enterprises shall observe and be sutpcct to the terms ofthis Policy (b) the conduct and control ofail claims for Much the Company may be liable hereby are vested in the Company s\ 11th November 1994 the Insured shall include the Joint Venture between the Insured's . Subsidiary Company Tidewater Construction Corporation and Kiewit Construction known as Drydock Builder's Enterprises in respect of die construction of HOV lanes for die Virginia Department ofTransportation Provided that (a) Drydock Builders Enterprises shall observe and be subject to the terms ofthis Policy (b) the conduct and control of all vested in the Company for which the Company may be liable hereby are (iv) 1st February 1995 Riverside Cement Company are no longer deemed to be a Subsidiary and/or Associated Company ofthe Insured (v) 8th February 1995 the Insured's Subsidiary Company Beazer USA Inc has changed its name to Cornerstone Construction and Materials Inc (vi) 1st April 1995 Boral Resources Inc are included within the Subsidiary and/or Associated Companies ofthe Insured (vii) 1 st June 1995 the Insured's Non-Core USA Businesses are no longer deemed to be Subsidiary and/or Associated Companies of the Insured in consideration of which there is a return premium of US$44,000.CO due to the Insured (viii) 1st September 1995 Deutsche Grove GmbH is included within the Subsidiary and/or Associated Companies of the Insured Subject otherwise to the terms exceptions and conditions of the Policy Date: 20 June 1996 Ejcmd-* Signed For and on behalf of Gerlfag Konzern General Insurance Company -l/K Branch GLD056729 0049-GLD-000056729 ATTACHMENT 1 SCHEDULE OF UNDERLYING INSURANCES Period of Insurance: 1st October 1995/30th September 1996 COVER USURER TERM LIMIT OF INDEMNITY REST OF WORLD PRIMARY POLICIES Public and Products Liability (Including DIC/D1L for overseas territories 100% Eagle Star Insurance Group Public and Products Liability (SCM 100% Switzerland Genera! Insurance Chemicals Australia) Company Cl/10/95 - 30/09/96 01/10/95-30/09/96 f ,000,000 any one occurrence, in aggregate for Products Liability AS5.000.000 each occurrence and in aggregate USA/CANADA PRIMARY POLICIES I) HANSON INDUSTRIES Domestic USA and Canada Employers Liability (a) CIGNA 01/10/95- 01/10/96 $2,000,000 each accident $2,000,000 disease policy limit $2,000,000 disease each employee Employers' Liability (b) MEMIC Comprehensive General Liability CIGNA Products/Completed Operations CIGNA Automobile Liability CIGNA (I) Beazer West Inc Employers' Liability/Excess Workmen's Compensation Pol NO 08 XC 223 SCA Aetna Casualty & Surety III) PEABODY HOLDING CO Employers Liability Pol No OBCO1S59202 i Old Republic a Peabody b Lee Ranch Coal Employers Liability Pol No OBCO1550702 2 Old Republic IV) TIDEWATER CONSTRUCTION CORPORATION Commercial General Liability Pol No Liberty Mutual RGl -651 -004723-075 Employers' Liability Pol Nos WC2-651004723-035/065 and WC2-651-004502135 Liberty Mutual Automobile Liability Pul Nos AS1-65I004723-135/665 and AS I-651-004502125 Liberty Mutual Owners and Contractors Liability Pol No LX 1 -651-004723-55S Liberty Mutual 62/900100/D Page 1 of2 01/IO/9S-01/10/96 01/10/95-01/10/96 01/10/95-01/10/96 01/10/95-01/10/96 $1,000,000 each accident $1,009,000 disease policy limit $1,009,000 disease each employee $3,009,000 per occurrence indemnity only (no aggregate) $5,009,000 per occurrence indemnity only (no aggregate) $2,000,000 per occurrence CSL indemnity only 01/8/95-01/8/96 $1,090,000 each accident $ 1.009,000 disease policy limit $1,000,000 disease each employee 01/10/95-01/10/96 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee 01/10/95 -01/10/96 $1,000.000each accident $1,000,000 disease policy limit $ 1,000,000 disease each employee 01/3/95 - 01/3/96 01/3/95 - 01/3/96 01/3/95 - 01/3/96 $2,000,000 per occurrence $100,000 deductible $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee $250,000 SIR per claim $2,000,000 per occurrence 01/3/95-01/3/96 $2,000,000 per occurrence Hanson PLC GLD056730 0049-GLD-000056730 Umbrella Liability Pol No RTI-6SI004723-69S Watercraft Liability Liberty Mutual Arkwright, Utica Mutual, Reliance V) G1FFORD-HILL AMERICAN, INC Genera! Liability Pol No CRR338592 Commercial Union insurance Co Automobile Liability Pol Nos ARR463002 and CRR463001 Excess Liability Pol No CRD23356 Commercial Union Insurance Co Commercial Union insurance Co Employers' Liability Pol No WA2-190089731-015 Liberty Mutual VI) DEUTSCHE CROVE (CrnbH.Wmrelrotihsven) Public/Products Liability HU Essen Environmental Liability HU Essen VII) DRYDOCK BUILDERS ENTERPRISES A Joint Venture Employels' Ltabttfty Pol No WCi-651004116-041 Liberty Mutual Genera! Liability Pol No RG1-65I004116-024 Liberty Mutual Automobile Liability Pol No AS2-651004116-034 Umbrella Liability Pot No RT1-6S1004118-044 Vni) NIELSON INC Commercial General liability Pol No GLRU9904I6 Liberty Mutual Liberty Mutual US Fnc Insurance Co Automobile Liability Pol No BAU9907I3 Employers' Liability Pol No WCU990063 Zurich Insurance Co Zurich insurance Co Umbrella Liability Pol No 553023915 US Fire insurance Co Ot/3/95-01/3/96 01/3/95-01/3/96 $8,000,000 per occurrence $40,000,000 excess cfSIO.OOO.OOO excess of underlying amounts 01/1/95-01/1/96 01/1/95-01/1/96 01/1/95-01/1/96 01/1/95-01/1/96 01/9/95-01/9/96 01/9/95-01/9/96 $1,000,000 per occurrence $2,000,000 general aggregate $2,000,000 products/completed operations aggregate $1,000,000 advertising injury $1,000,000 combined single limit $4,000,000 per occuirence $4,000,000 general aggregate $4,000,000 products/completed operations aggregate $500,000 per occurrence - DM10,000.000 DM20,000,000 02/11/94-01/5/96 02/11/94 - 02/5/96 02/11/94-01/5/96 02/11/94 - 01/5/96 $500,000 each accident $500,000 disease policy limit $500,000 disease - each employee $2,000,000 each occurrence $2,000,000 general aggregate $2,000,000 completed operations aggregate $2,000,000 each accident $8,000,000 excess ofprimaries 10/9/9S-01/4/96 I0/9/9S-01/4/96 10/9/95-01/4/96 10/9/95 -01/4/96 $1,000.000 each occurrence $2,000,000 Praducts/Completed Operations aggregate $5,000,000 general aggregate S1,000,000 each occurrence SI ,000,000 each accident $1,000,000 Disease Policy Limit S1,000,000 disease each employee $10,000,000 each occurrence 510.000.000 general aggregate 510.000.000 Products/Completed Operations aggregate 62/900100/0 Page 2 of2 Hanson PIC GLD056731 0049-GLD-000056731 ATTACHMENT 1 SCHEDULE OF UNDERLYING INSURANCES Period of Insurance: 1st October 1994/30th September I99S COVER INSURER TERM LIMIT OF INDEMNITY REST OF WORLD PRIMARY POLICIES Public and Products Liability (including DIC/DIL Cor overseas territories Public and Products Liability (SCM Chemicals- Australia) Motor Insurance Pol No <191477 i 5 100'o Eagle Star Insurance Group lOOfe Switzerland General Insurance Company Eagle Star Insurance Company 01/1094-30/09/95 Ot/10/94 - 30/09/95 01/10/94 -30/09/95 1.000.000 any one occurrence, in aggregate tor Products Liability AS5.000.000 each occurrence and in aggregate 1.000.000 any one occurrence for airside liability USA/CANADA PRIMARY POLICIES 1) HANSON INDl'STRIES - Domestic ISA and Canada Employers Liability CIGNA Comprehensive General Liability Products^Completed (tper.inons Automobile Liability CIGNA CIGNA CIGNA 01/10/94-03/10/95 01/10/94-01/10/95 01/10/94-01/10/95 01/10/94-01/10/95 S2.000.000 each accident S2.000.000 disease policy limit S2.000.000 disease each employee 3.000.000 per occurrence indemnity only (no aggregate) 55.000.000 per occurrence indemnity only (no aggregate) $2,000,000 per occurrence CSL indemnity only III Beazrr West tnc limpto\eri>' l.iabilit* Put \o i*4 X<` 223 SCA Aelita l usually & Surely lit) FOREIGN LIABILITY C'omprchenstveOcncral A Automobile Liability IVI NoCXt<>.<532S hmpluyer* 1.lability Pol No 1 BA CIGNA CIGNA IV) PEABODY HOLDING CO Employers Liability 1***1 No OBCOI5S9202 1 Old Republic u Peabody b Lee Ranch Coal LmploversLiabilin i'ol N> OBCO1550702 2 old Republic V| TIDEWATER OONSTRCCTION CORPORATION Commercial General Liability Pol No Libert* Mutual RG1-65 1-004723-074 l-mplovers' Liabilitv Pul No* WC2-65I004723-034/064 and WC2-651-004502134 l iberty Mutual 01/8/94-01/8/95 1.000.000 each accident 1.000.000 disease policy limit 1.000.000 disease eacit employee 01/10/94-01/10/95 Ol/10/94 -01/10/95 $5,000,000 per occurrence 10.000.000 aggregate $5,000,000 per aecidcnt S5.000.000 aggregate per accident $5,000,000 aggregate disease <11/10/93-01/10/95 Si.000.000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee <11/10/94-01/10/95 $1,000,000 each accident $ 1.000.000 disease policy' limit SI.000.000 disease each employee (JI/3/94-OI/3/95 01/3/94-01/3/95 $2,000,000 per occurrence $100,000 deductible 51.000.000 each accident 51.000.000 disease policy limit $1,000,000 disease each employee 250.000 MR per claim 62/974 I |/D Page l of2 Hanson Pl.C GLD056732 0049-GLD-000056732 Automobile Liability Pol NosASl-651004723-134/664 and ASI-651-004502124 Liberty Mutual Owners and Contraaois Liability Pol No LX I -651 -004723-554 L,bcr^>'Mulual Umbrella Liability Pol No RT1 -651004723-694 Liberty Mutual VI) GIFFORD-H ILL AMERICAS', INC General Liability Pol No CRR338592 Commercial Union Insurance Co Automobile Liability Pul N> NRR26I031 Excess Liability Pol Ni> CRD208088 Commercial Union Insurance Co Pacitic Employers Insurance Co Employers' Liability Pol N WA2-19008973i-0l3 Liberty Mutual 01/3/94-01/3/95 S2.000.000 pcroccurrence 01/3/94-01/3/95 S2.000.000 pcroccurrence 01/3/94 01/3/95 $8,000,000 per occurrence 01/1/94 - 01/1/95 01/1/94 01/1/95 01/3/94-01/1/95 01/1/94-01/1/95 $1,000,000 pcroccurrence S2.000.000 general aggregate 52.000.000 products/completed operations aggregate 51.000.000 persona! and advertising injury $1,000,000 combined single limit 4.000.000 pcroccurrence S4.000.000 general aggregate S4.000.000 products/complcted operations aggiegate $500,000 62/974 ll/D Page 2 of2 Hanson PLC GLD056733 0049-GLD-000056733 Memorandum No 16 attaching to and forming part of Policy No 62/97411/D in the name of Hanson PLC Subject to payment ofthe Renewal Premium to the Company it is agreed that this Policy is renewed for a further Period ofInsurance as stated below PERIOD OF INSURANCE: From 1 October, 1995 ) both days To 30 September, 1996 ) inclusive RENEWAL PREMIUM: US$941,177.00 in full INSURANCE PREMIUM TAX: US$1,910.23 payable in addition to the above It is further agreed that with effect from 1 October 1995: (1) the Policy Number is amended to read as 62/900100/D and not as heretofore (2) the Schedule of Underlying Insurances is cancelled and replaced by Attachment 1 hereto Subject otherwise to the terms exceptions and conditions of the Policy Date: 6 March 1996 Exmd: Signed For and on behalf of Gerling Konzern General Insurance Company -UK Branch 62/900100/D Page I of4 Hanson PLC GLD056734 0049-GLD-000056734 ATTACHMENT 1 SCHEDULE OF UNDERLYING INSURANCES Period of Insurance: X October 1995/30 September 1996 COVER INSURER REST OF WORLD PRIMARY POLICIES TERM LIMIT OF INDEMNITY Public and Produce Liability (including DIC/D1L for overseas territories) Public and Produce Liability (SCM Chemicals - Australia) 100% Eagle Star Insurance Group 100% Switzerland General Insurance Company 01/10/95 30/09/96 01/10/95 30/09/96 1.000.000 any one occurrence. n. aggregate for Produce liability AS5.000.000 each occurrence and in aggregate USA/CANADA PRIMARY POLICIES I) HANSON INDUSTRIES Domestic USA and Canada Employers' Liability (a) CIGNA Employers' Liability (b) MEMJC Comprehensive Genera) Liability Products/Completed Operations Automobile Liability CIGNA CIGNA CIGNA II) BeazerWest Inc Employers' Liability/Excess Workmen's ' Compensation Pol No 08 XC 223 SCA Aetna Casualty & Surety III) PEABODY HOLDING CO Employers Liability Pol No OBCO1559302 Employers Liability Pol No 0BC0155Q7Q2 Old Republic a Peabody b Lee Ranch Coal Old Republic 01/10/95-01/10/96 $2.000.000each accident S2.000.000 disease policy limit $2,000,000 disease each employee 01/10/95 01/10/96 Si.OOO.OOOeach accident $1,000,000 disease policy limit $1,000,000 disease each employee 01/10/95-01/10/96 $3,000,000 per occurrence indemnity only (no aggregate) 01/10/95 - 01/10/96 $5.000.000 per occurrence indemnity only (no aggregate) 01/10/95 01/10/96 S2.000.000 per occurrence CSL indemnity only 01/8/95-01/8/96 $1,000,000 each accident $1,000,000 disease policy limit $1,000,000 disease each employee 01/10/95 01/10/96 Si.OOO.OOOeach accident SI .000.000 disease pol icy limit SI .000.000 disease each employee 01/10/95 -.01/10/96 Si.OOO.OOOeach accident SI .00.000 disease policy limit $1,000,000 disease each employee 62/900100/D Page 2 of4 Hanson PLC GLD056735 0049-GLD-000056735 IV) TIDEWATER CONSTRUCTION CORPORATION Commercial General Liability Pol No Libert)' Mutual RG1-651-004723*075 Employers' Liability Pol Nos WC2-651004723-Q3S/065 andWC2-65l-0Q4S02135 Liberty Mutual Automobile Liability Pol Nos AS 1 -651004723-135/665 and AS I-651-004502125 Liberty Mutual Owners and Contractors Liability Pol No LXl-651-004723-55> Liberty Mutual Umbrella Liability Pol No RTl-651004723-695 Watercraft Liability Liberty Mutual Arkwright. Utica Mutual. Reliance V) GIFFORD-H1LL AMERICAN. INC General Liability Pol No CRR338592 Commercial Union Insurance Co Automobile Liability Pol V>> AR.R463C02 and CR.fU6.`tim Excess Liability Pol No CRD2J336 C onvncrcial Union Insurance Co Commercial Union Insurance Co Employers' Liabilitv Pol No WA2-J90- 1)897} i-015 libertv Muiual Vl| DEUTSCHE GROVE (GmbH. Wtihelmshaven) Public/Productt Liability Hl)l Lsscn Environmental Liabil in UDI Essen 01/3/95 -01/3/96 01/3/95 -01/3/96 01/3/95 01/3/96 $2,000,000 per occurrence $100,000 deductible SI.OOO.QOOeachaccidem $1,000,000 disease policy limn $1.000.000 disease each employee $250,000 SIR per claim S2.000.000 per occurrence 01/3/95 - 01/3/96 $2,000,000 per occurrence 01/3/95 * 01/3/96 01/3/95 - 01/3/96 S8.000.000 per occurrence $40,000,000 excess of$I0.000.000 excess of underlying amounts 01/1/95 -Ot/l/96 01/1/95 -01/1/96 01/1/95 - 01/1/96 01/1/95-OJ/l/96 $1,000,000 per occurrence $2,000,000 general aggregate $2,000,000 produclsfeompleied operations aggregate 31.000.000 advertising injury $ 1.000.000 combined single limit $4,000,000 per occurrence $4,000,000 genera! aggregate S4.000.000 producis/compieted operations aggregate $500,000 per occurrence 01/9/95 - 01/9/96 01/9/95 - 01/9/96 DM10.000.000 DM2Q.000.OOOt 62/900100/D Page3of4 t Hansen PLC GX.D056736 0049-GLD-000056736 VII) DRYDOCK BUILDERS ENTERPRISES, A Joint Venture Employers' Liability Pol No WC1-651- Liberty Mutual 004116-04) Genera! Liability Pol No RG1-65I* 0041! 6-024 Liberty Mutual Automobile Liability Pol No AS2-651 004116-034 Umbrella Liability Pol No RT1-65I004118-044 Liberty Mutual Libert)- Mutual 02/11/94 - 02/5/96 02/11/94-02/5/96 02/11/94-01/5/96 $500,000 each accident $500,000 disease - policy limit $500,000 disease - each employee J2.000.000 each occurrence 52.000.000 general aggregate 52.000.000 completed operations aggregate S2.000.000 each accident 02/11/94-01/5/96 S8.000.000 excess of primaries 62/900100/D Page 4 of4 Hanson PLC GLD056737 0049-GLD-000056737 Memorandum No 17 attaching to and forming part of Policy No 62/900100/D in the name of Hanson PLC and all Subsidiary and/or Associated Companies It is agreed that as from the (i) 1st October 1995 the Schedule of Underlying Insurances is cancelled and replaced bv Attachment 1 hereto (ii) 1st March 1996 the Insured's Subsidiary Company Suburban Propane having been sold the insurance provided by this Policy in respect thereof is cancelled in consideration of which there is a return premium of US$61,744.44 due to the Insured Subject otherwise to the terms exceptions and conditions of the Policy Date: 17 June 1996 Exmd: ^ Signed For and on behalf of Gerling Konzern General Insurance Company -UK Branch GLD056738 0049-GLD-000056738  ^mjiri^ .**,**jvw*1**** sCK-f'*-<*.*|s^|im*wr -w****-**^. 'u>--a'<n> w" '" -J+;**'-jmt^ -*- >>^-j^i ATTACHMENT 1 SCHEDULE OF UNDERLYING INSURANCES Period of Insnrance: 1st October 1995/30th September 1996 COVER INSURER TERM LIMIT OF INDEMNITY' REST OF WORLD PRIMARY POLICIES Public and Products Liability (including DIC/DIL tor overseas territories Public and Products Liability (SCM Chemicals - Australia) 1(1(1" o Eagle Star Insuraice Group 1 in fe Switzerland General Insurance Company 01/10/95 - 3Q/09/9O 01/10/95 - 30/09/96 1.000,000 any one occurrence, in aggregate tor Products Liability AS5.OOG.OOli each occurrence and m aggregate USA/CANADA PRIMARY POLICIES l> HANSON INDUSTRIES Domestic USA and Canada Employers Liability (a) CIGNA 01/10/95-01/10/96 52.000.000 each accident 52.0QQ.C00 disease policy liwm 52.000.000 disease each employee Employers'Liability ib) Mi MIC Comprehensive General l.nihility CIGNA Products/Ccmpleied Operation' C KiNA Automobile Liability (. It\ \ II) Beazcr West Inc Employers' Liability I \'C" dri>men' Compensation Pol Mi u% \i 2; t SC .4 1C U'UjIlt & Nuret' III) PEABODY IIOI.!)IV> 4 () Employers Liability IMI vUBCOI559202 I < >M Republic j Peahodt h Lee Ranch (. nal Employers Liability IVI N-OUCO1S50702 Old Kepuhlu IVI TIDEWATER CONSI Rl CT ION ( OKIMik \ I H Commercial General 1 ubihiy Pl V- 1 iMIi MuIJJ. RG1 -651 -004723-075 Employers' liability Pul Vi wc/i-oM004723-035/065 and \Yt'2-i>'l -otuu:135 1 iMIi Mutual AutomobileLiabiiilt Pol Vs AM-ftM004723-135/665 ami AM-h M-ih i45o 2125 l mens Mutual Owners and Contractors 1 i.ihilut Pol No LX 1 -651 -004723-555 l metre Mutual 62/974II/D Page I of2 01/10/95-01/10/96 01/10/95-01/10/96 01/10/95-01/30/96 01/10/95-01/10/96 51.000.000 each accident $1,000,000 disease policy limn 2.000.000disease each employee 53.000.000 per occurrence indemnity only (no aggregate! 55.000.000 per occurrence indemnity only (no aggregate) 52.000,000 per occurrence LSI. indemnity only OI/8/95-0I/8/96 S1.000.000 each accident S1.01)0.000 disease policy limit 51.000.000 disease each employee OI/I0/9S-Q1/IO/96 51.000.00U cadi accident 51.000.000 disease policy limn SI .000.000 disease each employ ec 01/10/95-01/10/96 SI.000.000 each accident SI.000.000 disease policy limit St.000.000 disease each employee 01/3/95 -01/3/96 01/3/95 -01/3/96 (J 1/3/95 -01/3/96 52.000.000 per occurrence $100.001) deductible 51.000.000 each accident 51.000.000 disease police liimt SI .000.000 disease eaclt emplovec $250,000 SIR per claim $2,000,000 per occurrence OW3/95 -0W3(% 52.000.00t) per occurrence Hanson 1*1.( GLD056739 0049-GLD-000056739 Umbrella Liability Pel No RTJ-651004723-695 Watercraft Liability Liberty Mutual Arkwright Utica Mutual. Reliance V) CIFFORD-HILL AMERICAN, INC General Liability Pol No CRR338592 Commercial Union Insurance Co Automobile Liability Pol Nos ARR463002 and CRR463001 Excess Liability Pol No CRD23356 Commercial Union Insurance Co Commercial Union Insurance Co Emplovers' Liability Pol No WA2-I9008973j-015 Liberty Mutual VI) DEUTSCHE GROVE (GmbH. WiHielmshavtn) Pnbiic/Producu Liability HD1 Essen Environmental Liability HDI Essen VI!) DRYDOCK BUILDERS ENTERPRISES A Joint Venture Employers' Liability Pol N*n WCI -651 004116-041 Liberty Mutual General Liability Pol Ni> KG 1-651004116-024 Liberty Mutual Automobile Liability Pol '' A.S2-651004116-034 Umbrella Liability Pot V* R 11-651004 U 8-044 VNI) NIELSON INC Commercial General Liability Liberty Mutual Liberty Mutual I'N ! Insurance Co Automobile Liability Pol Nn BAU9907I3 Employers' Liability Pol No WCI'900063 Zurich Insurance Co Zurich Insurance C o Umbrella Liability Pol N 553023915 IS Lire insurance Co 0I/3/9S-0I/3/96 01/3^5-01/3/96 S8.000.000 per occurrence S40.000.000 excess pf SIO.OOO.OOO excess of underlying amounts 01/1/95-01/1/96 01/1/95-01/1/96 51.000.000 per occurrence 52.000.00C general aggregate - S2.000.000 product&completed operations aggregate $1,000,000 advertising injury $1,000,000 combined single limit 01/1/95 -01/1/96 OIM/95 -01/1/96 $4,000,000 per occurrence S4.000.000 general aggregate 4.000.000 products/completed operations aggregate $500,000 per occurrence 01/9/95-01/9/96 01/9/95-01/9/96 DM 10.000.000 DM20.000.000 02/11/94-01/5/96 02/11/94 - 02/5/96 02/11/94 - 01/5/96 02/11/94 Ol/J/96 S500.000 each accident $500,000 disease - policy limit $500,000 disease - each employee S2.000.000 each occurrence $2,000,000 general aggregate S2.000.000 completed operations aggregate S2.000.000 each accident S8.000.000 excess ol primaries IO/9/95-0J/4/96 10/9/95-01/4/96 IQ/9/95-01/4/96 10/9/95 - 01/4/96 $ 1.000.001) each occurrence 52.000.000 Products/Conipleted Operations aggregate SS.QOG.OQO general aggregate SI.000.000 cash occurrence S l .000.000 each accident $1.000.000Disease Policy Limit $ 1.000.000 disease each employee SIO.OOO.OOO each occurrence SIO.OOO.OOO general aggregate S 10.000.000 Products/C'nniplered Operations aggregate 62/974 ll/D Page2of2 Hanson PLC GLD056740 0049-GLD-000056740 Memorandum No 18 attaching to and forming part of Policy No 62/900100/D in the name of Hanson PLC and all Subsidiary and/or Associated Companies It is agreed that as from the (i) 12th October 1994 Phillips Yeast Products Limited are included within the Subsidiary' and/or Associated Companies of the Insured fii) 2nd November 1994 the Insured shall include the Joint Venture between the Insured's Subsidiary Company Tidewater Construction Corporation and Kiewit Construction known as Drydock Builder's Enterprises in respect of the construction of a Drydock Extension for Newport News Shipbuilding and Drydock Corporation Provided that (a) Dry dock Builders Enterprises shall observe and be subject to the terms of this Policy (b) the conduct and control of all claims for which the Company may be liable hereby are vested in the Company (iti) 11th November 1994 the Insured shall include the Joint Venture between the Insured's Subsidiary Company Tidewater Construction Corporation and Kiewit Construction known as Drydock Builder's Enterprises in respect of the construction of HOV lanes for the Virginia Department ofTransportation Provided that (a) Drydock Builders Enterprises shall observe and be subject to the terms of this Policy- lb) the conduct and control of all claims for which the Company may be liable hereby are vested in the Company (iv) 1st February 1995 Riverside Cement Company are no longer deemed to be a Subsidiary and/or Associated Company of the Insured (v) 8th February 1995 the Insured's Subsidiary Company Beazer USA Inc has changed its name to Cornerstone Construction and Materials Inc (vi) 1st April 1995 Boral Resources Inc are included within the Subsidiary and/or Associated Companies of the Insured (vii) 1 st June 1995 the Insured's Non-Core USA Businesses are no longer deemed to be Subsidiary and/or Associated Companies of the Insured in consideration of which there is a return premium of US$44.000.09 due to the Insured (viii) 1st September 1995 Deutsche Grove GmbH is included within the Subsidiary and/or Associated Companies of the Insured Subject otherwise to the terms exceptions and conditions ofthe Policy Date: 20 June 1996 Exmd: Signed For and on behalf of Geriing Konzern General Insurance Company -UK Branch GLD056741 0049-GLD-000056741 Memorandum No 18 attaching to and forming part of Policy No 62/900100/D in the name of Hanson PLC and all Subsidiary and/or Associated Companies It is agreed that as from the (i) 12th October 1994 Phillips Yeast Products Limited are included within the Subsidiary and/or Associated Companies of the Insured (ii) 2nd November 1994 the Insured shall include the Joint Venture between the Insured's Subsidiary Company Tidewater Construction Corporation and Kiewit Construction known as Drydock Builder's Enterprises Provided that (a) Drydock Builder's Enterprises shall observe and be subject to the terms ofthis Policy (b) the conduct and control of all claims for which the Company may be liable hereby are vested in the Company (iii) 1st February 1995 Riverside Cement Company are no longer deemed to be a Subsidiary and/or Associated Company of the Insured (iv) 8th February 1995 the Insured's Subsidiary Company Beazer USA Inc has changed its name to Cornerstone Construction and Materials Inc (v) 1st April 1995 Boral Resources Inc are included within the Subsidiary and/or Associated Companies of the Insured (vi) 1 st June 1995 the Insured's Non-Core USA Businesses are no longer deemed to be Subsidiary and/or Associated Companies of the Insured in consideration of which there is a return premium of US$44,000.00 due to the Insured (vii) 1st September 1995 Deutsche Grove GmbH is included within the Subsidiary and/or Associated Companies ofthe Insured Subject otherwise to the terms exceptions and conditions ofthe Policy Date: 22 August 1996 Exmd: Signed For and on behalf of Geriing Konzern General Insurance Company -UK Branch 6LD056742 0049-GLD-000056742