Document baaEwnx21v1m2REvR3aEg4nd1

i \ *1 ft {nA n2 (+ r+* %rr ? fi> VA M vo ^ to M VO "N N> CO N> O U> 00 ,; GLD051698 0049-GLD-000051698 C-139-1 10-76 GLD051699 0049-GLD-000051699 8.:""$2?i23 New Renewal rtf Me. V DECLARATIONS - SPECIAL ^OVERAGE POLICY zsrJMx&trjirirjgr* STOCK COMPANY FIRST STATE INSURANCE COMPANY WIIMMSTON, DEIAWA* Adnurtiiirittv* Office*: 60 Satterymtidi Sir***, Sotton, Miiuchtiielfi 02110 Namti.liwinif and Mailing Addrtss SCM CORPORATION 299 Park Avenue New York, New York 10017 Item 1. Policy Period: From January 1, 1980 To _ January 1, 1981 12:01 A.M., Standard Time at the address of the named Insured os stated herein. Item 2. Premium: Advance Premium: $ 5,000. Rate: Flat Minimum Premium: $ 5,000. If the Policy Period is more thon one year and the premium is to be paid in installments, premium is payable on: Effective Date $ 1st Anniversary $ 2nd Anniversary $ Item 3. Coverage: Excess Umbrella Liability Item 4: Limits of Liability: The limit of the Company's liability shall be as stated herein, subject to oil the terms of this policy having reference thereto. As per fora attached Item 5. During the post three years no insurer has cancelled insurance issued to the named in sured, similar to that afforded hereunder, unless otherwise stated herein. Dote of Issue C-M0 rT/ra. &.U- Countersigned Byj /jf Authorized V GL.D051700 0049-G LD-000051700 1. NAMED INSURED: f d ef in it io n s The words "Named Insured" includes The Named Insured stated in The Declarations forming a part hereof and/or subsidiary, associated, affiliated companies or owned and controlled companies as now or hereafter constituted and of which prompt notice has been given to the Company. 2. INSURED: The' word "Insured" includes The Named Insured and/or any Officer, Director, Stockholder, Partner or Employee of The Named Insured, while acting in his capacity as such. CONDITIONS 1. PRIOR INSURANCE AND NON CUMULATION OF LIABILITY - It is agreed that if any loss covered hereunder is also covered in whole or in part under any other excess Policy issued to the Insured prior to the inception date hereof the limit of liability hereon as stated in Insuring Agreements 2c and ja shall be reduced by any amounts due to the rnsured on account of such loss under . such prior insurance. - Subject to the foregoing paragraph and to all the other terns and conditions of this Policy _in the event that personal injury or property damage arising out' of an occurrence covered hereunder is continuing at the time of termination of this Policy the Company will continue to protect the Insured for liability in respect of such personal injury or property damage without payment of additional premium. 2. MAINTENANCE OF UNDERLYING UMBRELLA INSURANCE - This Policy is subject to the same terms, definitions, exclusions and conditions (except as regards the premium, the amount and limits of liability and except as otherwise provided herein) as are contained in or as may be added to the Underlying Umbrella Policies stated in Insuring Agreement 1 prior to the happening of an occurrence for which claim is made hereunder. It is a condition of this Policy that the Underlying Umbrella Policies shall be maintained in full effect during the currency hereof except for any reduction of the aggregate limits contained therein solely by payment of claims in respect of accidents and/or occurrences occurring during the period of this Policy or by the operation of Condition of the Underlying Umbrella Policies. 3. NOTICE OF OCCURRENCE - Whenever the Insured has information from which they may reasonably conclude that an occurrence covered hereunder involves injuries or damage which, in the event that the Insured shall be held liable, is likely to involve this Policy, . notice shall be sent to the Company at 60 Batteryaarch Street, Boston, Massachusetts 02110 as soon as practicable, provided however, that faildPA tg~qflVA nofcice of any --occurrence which at the-time 6F its' happening did not appear to involve this Policy, but which, at a later date, would appear to give rise to claims hereunder, shall not prejudice such claims. 4. OTHER INSURANCE - If other valid and Collectible insurance with any other Insurer is available to the Insured covering a loss also covered by this Policy, other than insurance that is in excess of the insurance afforded by this Policy, the insurance afforded by this Policy shall be in excess of and shall not contribute with such.other insurance. C-Uq -i GLD051701 0049-GLD-000051701 { FIRST STATE INSURANCE COMPANY (A Stock Insurance Company, Herein Called the Company) EXCESS UMBRELLA POLICY INSURING AGREEMENTS 1. COVERAGE The Company hereby agrees, subject to the limitations, terms and conditions herein after mentioned, to indemnify the Insured for all sums which the Insured shall be obliged to pay by reason of the liability imposed upon the insured by law, or assumed under contract or agreement by the Named Insured for damages, direct or consequential and expenses on account of: (a) Personal injuries, including death at aby time resulting therefrom, <b) Property Damage, (c) Advertising Liability, caused by or arising out of, each occurrence happening anywhere in the world, and arising out of the hazards covered by and as defined in the Underlying umbrella Policies 6tated below and issued by the "Underlying Umbrella insurer". UNDERLYING UMBRELLA INSURERS AND POLICY NUMBER: Hartford Insurance Co. Policy tf to be advised 2. LIMIT OF LIABILITY - UNDERLYING LIMITS It is expressly agreed that liability shall attach to the Company only after the Under lying Umbrella Insurers have paid or have been held liable to pay the full amount of their respective ultimate net loss liability as follows: SAjuSvJ-Ara3. (a) $-5&,000,060. ultimate net loss in respect of each occurrence, but (b) $ -50x000,000. 'HS'6rWiluO . in the aggregate for each annual period during the currency of this Policy separately in respect of Products Liability and separately in respect of Personal Injury (fatal or non-fatal) by Occupational Disease sustained by eny employees of the Assured and the Company shall then be liabLe to pay only the excess thereof up to a further 5,000,000. part of (c) S 25,000,000. ultimate net loss in all in respect of each occurrence - subject to a limit, of 5,000,000. part of <d) S 25,000,000. in the aggregate for each annual period during the currency of this policy, separately in respect of Product Liability and separately in respect of Personal Injury (fatal or non-fatal) by Occupational Disease sustained by any employees of the Assured. 3. CANCELLATION CLAUSE It is hereby understood and agreed that the Cancellation clause under Condition 7 of the Policy is amended in part as follows: Reference to "ten days" is amended to read "thirty days". f" GLD051702 0049-GLD-000051702 ENDORSEMENT #1 The following Service of Suit Clause is not to become effec tive unless or until the Insured bis notified this Company in each specific claim of its intention to sue. Service of Suit Clause it is agreed that in the event of the failure of this Company to pay any amount claimed to be due hereunder, this Company, at the request of the Insured, will submit to the Jurisdiction of any Court of Competent Jurisdiction within the United States and will comply with all requirements necessary to give such Court Jurisdiction and all matters arising hereunder shall be determined in accordance with .the law and practice of such Court* It is further agreed that service of process in such suit may be made upon the highest one in authority bearing the title "Commissioner", "Director", or "Superintendent" of Insurance of the state or commonwealth wherein the property covered by this policy is located, and that in any suit instituted against it upon this contract this Company will abide by the final de cision of such Court or any Appellate Court in the event of an appeal. The one in authority bearing the title "Commissioner", "Director", or "Superintendent" of Insurance of the state or commonwealth wherein the property covered by this policy is located is hereby authorized and directed to accept service of process on behalf of this Company in any such stilt and/or upon the Insured's request to give a written undertaking to the In sured that they will enter a general appearance upon this Com pany's behalf in the event such a suit shall be instituted. This endorsement to take effect on the 1st day of January, 1980. All other items and conditions remain unchanged. Attached to and forming part of Policy No. 929223 of FIRST STATE INSURANCE COMPANY. Issued to: SC M CORPORATION GLD051703 0049-GLD-000051703 ENDORSEMENT #2 It is agreed that Item 1 of the Insuring Agreements, Policy Number, is amended to read as follows: . Hartford Insurance Company Policy Number: 1QHU466924 This endorsement to take effect on the 1st day.of January, 1980. All other items and conditions remain unchanged. Attached to and forming part of Policy No. 929223 of FIRST STATE INSURANCE COMPANY. Issued to: SCM CORPORATION GLD051704 0049-GLD-000051704 f t4 ENDORSEMENT #3 - It Is .agreed that Item 2 of Insuring Agreements, Underlying limits, is amended to read as follows: a) 45,000,000. b) 45,000,000. This endorsement to take effect on the 1st day of January, 1980. All other items and conditions remain unchanged. Attached to and forming part of Policy No. 929223 of FIRST STATE INSURANCE COMPANY. Issued to: SCM CORPORATION Camero/i & Co!by Co. / Authorized GLD051705 0049-GLD-000051705 ENDORSEMENT #4 It 'is hereby understood and agreed that the Cancellation Clause under Condition 7 of the Policy is amended in part as follows: Reference to "ten days" is amended to read "sixty (60) days". This endorsement to take effect on the 1st day of January, 1960. All other items and conditions remain unchanged. Attached to and'forming part of Policy No. 929223 of FIRST STATE INSURANCE COMPANY. Issued to: SCM CORPORATION GLD051706 0049-G LD-000051706 ENDORSEMENT #5 a It i? agreed that the Named Insured is amended to read as follows: Named. Insured A) SCM CORPORATION, ALL SUBSIDIARIES AND SUBSIDIARIES OF THE SUB SIDIARIES, SCM FOUNDATION, ANT OTHER COMPANY OF WHICH IT ASSUMES ACTIVE MANAGEMENT, ANT EMPLOYEE SPONSORED ASSOCIATION OR CLUBS OF THE NAMED INSURED.-. _ B) JOTUN-BALTIMORE COPPER PAINT COMPANY, A JOINT VENTURE. HOWEVER, ' SUCH COVERAGE AS IS PROVIDED FOR THE INTEREST OF GLIDDEN-DURKEE DIVISION OF SCM CORPORATION AND A.F. JOTUNGRUPPEN OF NORWAY IN THE JOINT VENTURE ABOVE IS RESTRICTED TO SUCH COVERAGE AS IS AVAILABLE TO THE INSURED UNDER THE PRIMARY INSURANCE STATED IN THE SCHEDULE OF UNDERLYING INSURANCES ATTACHED TO THIS POLICY. C) SYLVACHEM CORPORATION, A JOINT VENTURE. HOWEVER, SUCH COVERAGE AS IS PROVIDED FOR THE INTEREST OF GLIDDEN-DURKEE DIVISION OF SCM CORPORATION AND ST. REGIS PAPER CORPORATION IN THE JOINT VENTURE ABOVE IS RESTRICTED TO SUCH COVERAGE AS IS AVAILABLE TO THE INSURED UNDER PRIMARY INSURANCE STATED IN THE SCHEDULE OF UNDERLYING INSUR ANCES ATTACHED TO THIS POLICY. This endorsement to take effect on the 1st day of January, 1980. All other items and conditions remain unchanged. Attached to and forming part of Policy No. 929223 of FIRST STATE INSURANCE COMPANY. Issued to: SCM CORPORATION Cameron & Colby Co. GLD051707 0049-GLD-000051707