Document jy9GKxvDrZXKzv1Xw4LMrRZmQ

t <5J2T "bo .( f ( GLD054030 0049-GLD-000054030 )4 UMBRELLA LIABILITY PREMIUM ALLOCATION 80-Oct-86' BISCONT PREMIUM COMPANY ESTIMATED * 1986/87 1985/86 * DIFFERENCE BIFF.. HANSON BUILDING PRODUCTS WES BROWN MOULDING DURE cm m NFS. StIPEfLITE 77,769 111,099 90,917 1S6,B6B 111,099 71,348 101,926 83,418 173,273 101,926 6,421 9,173 7,507 15,595 9,173 1.09 1.09 1.09 1.09 1.09 SIS TOTAL TEXTILES 579,752 531,883 47,869 1.09 BAYLIS CARISBROOK ENCINO 2fl,6M 123,781 25,263 26,246 113,561 23,177 2,362 10,220 2,036 1.99 1.09 1.09 SUB TOTAL 177, S3 162,984 14,669 1.09 CONSUMER PRODUCTS 0JDICOTT JOWSON GEORGIA WOT NEVCO TETERS 195,445 76,659 29,151 38,223 179,388 70,329 29,151 38,223 16,138 6,330 0 0 1.09 1.09 1.00 1.00 SUB TOTAL 333,478 317,011 22,467 1.07 FURNITURE & FURNISHINGS ANDERSON HICKEY MU FAST0ERS UNITED CHAIR 49,995 60,660 230,800 45,867 55,651 215,169 4,128 5,009 14,831 1.09 1.09 1.07 SUBTOTAL LIGHTING 340,655 316,687 23,968 1.08 COLUMBIA KEYSTOC PRESCOL1TE 68,360 104,960 130,661 54,873 95,418 118,783 5,487 9,542 11,878 1.10 1.10 1.10 SUB TOTffl. 295,981 269,074 26,907 1.10 USI INDUSTRIAL AiS BUILDING AXELSDN 346,139 CLEARING HURON LEON PLASTICS 151,360 580,080 352,843 47,457 36,308 137,600 502,347 323,709 43,143 68,098 13,760 (2,347) 29,134 4,314 8,810 1.10 1.00 1.09 1.10 1.10 SIB TOTAL 1,148,568 1,034,897 53,671 1.05 SS SCM DIFFERENCE . GLD054031 0049-GLD-000054031 sen ALLIED PAPER QURKEE FAN SUDDEN OURKE FOODS 8,061 KLIENSCHMIDIT 53,955 METALS S3,765 o r g an ic c h h ic a l s PIOEN7S PROCTOR SCHWARTZ SMITH CORONA 323,000 238,000 8,217 55,000 65,000 200,000 43,349 178,080 309,796 181,364 576,617 179,168 5,478 46,122 46,976 294,546 28,899 145,258 ^ TOTAL 1,100,566 1,726,224 AIR HAMILTON 10,193 GROUW) ROUND 500,000 881,346 HANSON IND 100,369 HYGRADE 325,741 298,345 471,920 ACTIVE TOTAL 4,888,394 5,709,513 0.0190 ear n ed f ac t o r 0,3310 UNEAfifO FACTOR r enew s. FACTOR * HANSON COMPANIES SCN COMPANIES 1.03 1.59 UNEINPffiK BUD/ACT DIFERENCE 13,204 1.04 77,449 141,694 (64,245) 48,832 2,739 8,878 16,024 <4,546> 14,450 32,742 1.27 1.50 1.19 1.33 0.98 1.50 1.23 (625,659) 0.64 (18,193) 0.20 (381,346) 0157 (100,369) 0.00 26,696 1.09 (901,119) 0.84 44,792 1,370 11,531 12,244 51,137 7,225 36,315 242,061 40,752 0 14,183 8,464 106,819 6 39,887 4,040 1,370 (2,653) 3,780 (55,683) 7, (3,573) 351,799 (109,738) ./? * GLD054032 0049-GLD-000054032 LJ G = GREAT AMERICAN INSURANCE COMPANY (71a = AMERICAN NATIONAL FIRE INSURANCE COMPANY i 'iAA= AMERICAN ALLIANCE INSURANCE COMPANY G AG= AGRICULTURAL NSURANCE COMPANY (Eoch a stock corporation, herein called the company) Insurance is afforded by the company designated. ADMINISTRATIVE OFFICE: CiNHSEunAaTwCAEMcEo mRpIaCnAieNs 580 VALNUT STREET CINCINNATI. OHIO 4S20I EXCESS LIABILITY POLICY Ham DECLARATIONS POLICY NUMBER FTZ 4025696 Legal Entity Named Insured Hanson Industries, Inc. LIIndividual Mailing Address 410 Park Avenue L1 Partnership New York, N.Y. 10022 Lit Corporation u__________ From: 10/1/86 To; IQ/l/ft? Agentor Broker Gian v ill Special Risk Insurance Brokers Inc. 90 John Street New York, N.Y. 10038 & Cvtous ROL tc v O'* INSURER New CODE Limits of Liability S 1,500,000 S 1,500.000 each occurrence aggregates As per End 1t #1 Premium Computation: (A) Premium Basis (B) Estimated Exposure (C) Rate per (D) Estimated Prenium (E) Minimum Premium (F) Advance Premium iXJ Annual G Term 3CJ Annual G Term l_X Annual LJ Term t-X Annual LJ Term Flat . N/A N/A % 105.000 $ 105.000 5 105.000 In the event of canceration By the Named Insured, the company shall receive and retain not lessthan S 2 6,250 . as a policy minimum premium. Endorsements ?.14004H-4-73 End'ts // 1-12 SCHEDULE OF UNDERLYING POLICIES (A) Insurer, Policy Number. Policy Period (3) Type nf Coverage (Cl Limits of Liability National Union TBA 10/1/86 to LO/L/87 As per schedule "in the company's files. Umbrella Liability ^ FitFollowing Form Excess Liability $8,000,000 each occurreuce/aggregate whe.je applicable excess DffyjPirrf.nla r y and/or any siR;:,:; PLUS $10,000,000 each occurrence/aggregate -ivhere applicable excess Umbrella Liability. of mm FTZ 103 (S/82) Countersigned by. 'H~- Mo l AUTHORIZED REPRESENTATIVE .- WJJUw VOO 0049-GL D-000054033 -( INSUREQ ( POLICY HUMBER 1 GIEAT AMERICAN INSURANCE COMPANIES Hanson Industries, Inc. - FTZ40/*2*> 5696**'^* EFFECTIVE DATE POLICY PERIOD AUTHORIZED ' 10-1-86 10-1-86 t0 10-1-87 Complete the above spaces if this endorsement is not attached to the policy when issued. l/ ill GENERAL ENDORSEMENT W '' Limits of Liability It is hereby understood and agreed the Limits of Liability are as follows: $1,500,000 CSL each occurrence /aggregate where applicable part of $5,000,000 CSL each occurrence/aggregate where applicable excess of $18,000,000 CSL each occurrence/aggregate where applicable excess of primary and/or any SIR. 'tr* !-> V; ",;r !/ p F.14004H--4-73 THIS POLICY iS SUBJECT OTHERWISE TO ALL ITS TERMS - GLD054034 0049-GLD-000054034 INSURED ' I POLICY NUMBER | Hanson Industries ^ FTZ4025696 GREAT A1VERICAN INSURANCE COMPANIES EFFECTIVE DATE 10-1-86 POLICY PERIOD 10-1-86 4 to 10-1-87 AUTHORIZES) REPRESENTATIVE _ Complete the above spaces if this endorsement is not attached to the policy when issued i V GENERAL ENDORSEMENT #2 NON-CONCURRENT PRIMARY INSURANCE COVERAGE In consideration of the premium charged, it is agreed that "A. INSURING AGREEMENTS" is deleted and replaced by the following Insuring Agreement. A. INSURING AGREEMENTS In consideration of the payment of the premium, the American Alliance Insurance Company (hereinafter called the company) agrees to indemnify the insured for Loss excess of the Limits of Liability shown in the declarations. Coverage provided by this policy shall be the same as that provided by the Umbrella Liability policy described in the schedule of Underlying Policies. In the event any Following Form Excess policy provides coverage which is not as broad as the Umbrella Liability policy, the company's policy shall apply excess of the total Limits of Liability of all policies shown in the Sche.dule of Underlying Policies without regard to coverage differences and whether collectable or not collectable. the company shall be furnished a complete copy of each policy described in the Schedule of Underlying Policies. The insured shall immediately notify the company of any change in coverage or Limits of Liability, other than a reduction In any aggregate limits as the result of the payment of a claim. Failure of the insured to report such a change shall not invalidate this policy but, in the event of failure loss to made. .to report' such ' change-,"-"tine- company shall only be liable for the same extent as it would have been had no change been ... ' ... "-r T?r ; I, \T(\ -r ti ifcu*:- F.14004H--4-73 THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. J* 0049-GLD-000054035 JL G1E*T AMERICAN INSURANCE COMPAN6S INSURED POLICY NUMBER Hanson Industries FTZ4025696 EFFECTIVE DATE POLICY PERIOD AUTHORIZE REPRESENTATIVE 10-1-86 10-1-86 # 10-1-87 TO 1 V .... m/fQ,--i---- Complete the above spaces if ibis endorsement is not atiaplf&q 'to the policy when issuecL GENERAL ENDORSEMENT #3 :;*i7;\r'! In consideration of the premium charged, it Is hereby understood and agreed that this policy does not cover operations of the following {famed Insured: Glidden Paints Durkee Foods T' v iv, l V-'v i anri/iM - 4.73 THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. 0049-GLD-000054036 (( POLICY NUMBER CRErtTANERlCNN in s u a a n c s c o mp a n ie s Hanson Industries EFFECTIVE OATE 10/L/86 POLICY PERIOD 10/1/86 ro 10/1/87 FTZ4025 696 *AUTMORUeOjUpW^eNTAT^^^ Complete the above spaces if this endorsement is not attached tf> the policy when issued. GENERAL ENDORSEMENT #4 Workers Compensation Exclusion In consideration of the premium charged, it is agreed that this policy does not apply: a) to any obligation for which the insured or the insured's insurer may be held liable under any worker's compensation, unemployment compensation or disability benefits law, or under any similar law, provided, however, that this exclusion does not apply to liabilty of others assumed by the named insured under contract. orrr nw u-ic r.'jr F.14004H -- 4-73 THIS POLICY tS SUBJECT OTHERWISE TO ALL tTS TERMS. ^ GLD054037 0049-GLD-000054037 ( POLICY NUMBER CHEAT AMERICAN INSURANCE COMPANIES EFFECTIVE DATE 10/1/86 POLICY PERIOD 10/L/86 t0 10/L/87 AUTHORIjEp^R^RESEW^^E~ Complete the above spaces if this endorsement is not attached to the policy when issued. l GENERAL ENDORSEMENT #5 OCCUPATIONAL DISEASE EXCLUSION "-------- It is hereby understood and agreed that this policy shall not apply to any liability for bodily injury, sickness, disease, disability or shock including death at any time resulting therefrom caused by the following diseases; 1. Black Lung Disease 2. Mesothelioma ' 3. Emphysema 4. Pneumoconiosis 5. Pulmonary Fibrosis 6. Pleuritis 7. Endothelioma 8. Asbestosis 9. Byssinosis Or any lung disease or ailment caused by. or aggravated by inhalation of dust. f'-' 1 F.14004H -- 4-73 THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. GLD054038 0049-G LD-000054038 INSURED ( POLICY NUMBER Hanson Industries FTZ4025696 GlEAT AMERICAN INSURANCE c o mp a n ie s EFFECTIVE DATE 10-1-86 POLICY PERIOD 10-1-86 t.o 10-1-87 A UTHOn^eOJ^PRESEtt^A^Ive. Complete the above spaces if this endorsement ts uot/attadbed to the policy when issued. "-- GENERAL ENDO RSEMENT # 6 DISCRIMINATION EXCLUSION It is agreed that this policy does not apply to any liability resulting from discrimination based on, but not limited to, race, color, creed, sex, religion, age, national origin, handicap, sexual preference, etc., whether or not for alleged violation of any federal, state or local governmental law or regulation prohibiting such discrimination. CfI* JP!'** hl wii V;D RAi U: F.14004H --4-73 THIS POLICY 1$ SUBJECT OTHERWISE TO ALL ITS TERMS. ............... WJJJUT 0049-GLD-000054039 GIEAT AMERICAN INSURANCE COMPANIES INSURED ............. Hanson Industries *...* POLICY NUMBER FTZ4025696 EFFECTIVE DATE POLICY PERICO AUTHORIZED Hat f 10-1-86 10-1-86 ro 10-1-87 Complete the above spacer if this endorsement is not attached/C policy when issued. // GENERAL ENDORSEMENT in \j PROFESSIONAL LIABILITY EXCLUSION It Is agreed that this policy shall not apply to injury caused by any error, omission, malpractice or mistake in the rendering of or failure to render professional services committed or alleged to have been committed by or on behalf of any insured. r ]nr,- WtTfrf*v p) pT y r a pi* F.14O04H -- 4-73 THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. UilUU3U4U 0049-GLD-000054040 : ..... (T INSURED POLICY NUMBER INSURANCE COMPANIES Hanson Industries EFFECTIVE OATE 10/1/86 POLICY PERIOD 10/1/86 to 10/1/87 ZLi FT2>/)25 69 6 AUTHQRTt Complete the above spaces if this endorsement is ndt attadbed to the policy when issued. GENERAL ENDORSEMENT #8 FORMALDEHYDE EXCLUSION This insurance does not apply to any liability for property damage, bodily injury, sickness, disease, occupational disease, disability, shock, death,mental anguish and mental injury at any time arisng out of the manufacture of, or use of, or exposure to Formaldehyde, or to any obligation of the insured to indemnify any party because of damages arising out of such property damage, bodily injury, sickness, disease, occupational disease, disability, shock, death, mental anguish or mental injury at any time as a result of the manufacture of, use of, or exposure to Formaldehyde, It is further understood and agreed that the National Union Fire Insurance Company of Pittsbu-rgh, Pennsyvalnia not be obligated to defend any suit or claim against the insured alleging personal Injury or property damage and seeking damages jf such suit or claim arise from personal injury or property damage resulting from or contributed to, by any, and all manufacture of, use of, exposure to. Formaldehyde. V;f \ All other terms and conditions remain unchanged % :\ i' ` v F.14004H -- 4-/3 THIS POLICY !$ SUBJECT OTHERWISE TO ALL ITS TERMS. 0049-GLD-000054041 ( INSURED HANSON INDUSTRIES <RE\T AMERICAN in s u r a n c e COMPANIES ( POLICY HUMBER FTZ4025696 FORMALIIEHYDE EXCLUSION This insurance does not apply to any liability for property damage, bodily injury, sickness, disease, occupational disease, disability, shock, death, mental anguish and mental injury at any time arisng out of the manufacture of, or use of, or exposure to Formaldehyde, or to any obligation of the Insured to indemnify any party because of damages arising out of such property dam'age, bodily injury, sickness, disease, occupational disease, disability, shock, death, mental anguish or mental injury at any time as a result of the manufacture of, use of, or exposure to Formaldehyde. It-is further understood and agreed that the American Alliance Insurance Company will not be obligated to defend any suit or claim against the insured alleging personal injury or property damage and seeking damages, if such suit or claim arise from personal injury or property damage resulting from or contributed to, by any, and all manufacture of, use of, exposure to. Formaldehyde. All other terms and conditions remain unchanged. F.14004H --4-73 THIS POLICY IS SUB/ECT OTHERWISE TO ALL ITS TERMS. GLD054042 0049-G LD-000054042 it CHEAT AMERICAN INSURANCE COMPANIES INSURED ( - f POLICY NUMBER Hanson Industries EFFECTIVE DATE 10-1-86 POUCY PERIOD 10-1-86 t0 10-1-87 ^ FTZ4025 696 AUTHORIZED REP^SEMgyATIVE * Complete the above spaces if this endorsement is not attached fO tbdpolicy when issued. GENERAL ENDORSEMENT #9 AIRCRAFT PRODUCTS AND GROUNDING LIABILITY EXCLUSION It Is agreed that this policy shall not apply to any liability arising out of aircraft products or reliance upon any representation or warranty made with respet thereto, or to any liability arising out of the grounding of any aircraft, "Aircraft Products" means aircraft (including missiles or spacecraft) and any other goods or products manufactured, sold, handled or distributed or services provided or recommended by the insured or by others trading under the inusred's name for use in the manufacture, repair, operation, maintenance or use of any aircraft. "Grounding" shall neara the withdrawal of one or more aircraft from flight operations or the imposition of speed, passenger or load restricions or. 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 or organizastions. F23060 .t h es b b s t t o rams ''VrT:'."" ---------------................................ TK !.b ..,;r............ . r~ '" r:t 11 F.I4004H--4-73 THIS POLICY i$ SUBJECT OTHERWISE TO ALL ITS TERMS. 0049-GLD-000054043 INSURED (- ( POLICY NUMBER GUEArAIWERlCUM INSURANCE COMPANIES Hanson Industries EFFECTIVE DATE 10/1* /86 POLICY PERIOD 10/1/86 t0 10/1/87 ______________ A_____ FTZ4025696 M --a u t h o r iz e d r e p r e s e n t a t iv e j TJj S-- o Complete the above spaces if ibis endorsement is not eUpdche/d to the policy when issued 7/io ^ GENERAL ENDORSEMENT .. -7- iv* Vt JOINT VENTURES & WRAP-UPS EXCLUSION It Is agreed that this policy may be endorsed to Named Insured's interest in joint ventures and wrap-ups provided written notice be given to the Company at the inception of the Named Insured's involvement in such operations. It is further agreed that the Limits of Liability under this policy shall apply with respect to joint ventures or wrap-ups excess of the following, whichever is greater: (1) Primary coverages as scheduled in this policy and written on behalf on the Named Insured. (2) Self-Insured Retention as defined in II of the Insuring Agreements except that such Self-Insured Retention will be at limits as scheduled in the underlying Schedule A or $10,000. whichever is the greater. (3) Any other valid and collectible insurance. nv - ,I V F.14004H -- 4-73 THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. a* GLD054044 0049-GLD-000054044 INSURED POLICY NUMBER Hanson Industries FIZ4025696 GlErO* AMERICAN INSURANCE c o mp a n ie s EFFECTIVE OATE 10/1/86 POLICY PERIOD 10/1/86 . 10/1/87 TO AUT.n<yj lE^REPRE^^t^Tt^g Complete the above spaces if this endorsement is not attached to the policy when issued. GENERAL ENDORSEMENT if 11 WAR RISK EXCLUSION This policy does not apply to any Bodily Injury, Personal Injury or Property Damage due to war, whether or not declared, civil war, insurrection, rebellion, or revolution, or to any act or condition incident to any of the foregoing when occurreing outside the United States and Canada. All other terms and conditions of this policy renrain unchanged. Ul amLu-. "'T rrfMif. F.14004H -4-73 THISPOLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. 0049-GLD-000054045 in s u r ed (- ( POLICY NUMBER <3E*T AMERICAN INSURANCE COMPUMVtCS Hanson Industries EFFECTIVE DATE 10-1-86 POLICY PERIOO 10-1-86 t0 10-1-87 f\ F^4025696 AUTHORIZ^HEfflESSHT^^^ Complete the above spaces if this endorsement is not at/achefi to the policy when issued. GENERAL ENDORSEMENT # 12 WATERCRAFT EXCLUSION In consideration of the premium paid, and notwithstanding anything contained in this policy to the contrary, it is agreed that this policy shall not apply to any liability for personal injury or property damage arising out of the ownership, maintenance, operation, use, loading or unloading of any watercraft. AFTZ13 T' _.r Tb-n'A F.14004H -- 4-73 THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. 0049-GLD-000054046 in s u r ed ( POLICY NUMBER GrarAACRKaN INSURANCE COMPANIES Hanson Industries Inc. FTZ402569.6 EFFECTIVE DATE 10-1-86 POLICY PERIOO 10-1-86 t0 10-1-87 _ _ _ _ _ _ ITJLAUTHORIZED REPRESENTATIVE Complete the above spaces if tbis endorsement is not attached tp'ibefpolicy when issued. GENERAL ENDORSEMENT #13 V/ "" In consideration of the premium charged, it is hereby understood and agreed that the schedule of underlying policies is amended to include National Union's policy number BE9439790. T " !11 i! SiHJW'T ;;! f < ;yfr HK F.14004H -4-73 THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. GLD054047 0049-GLD-000054047 JL <RE\Tj MWER1C\N in s u c t a w c b c o mp a n c s in s u r ed ( f POLICY NUMBER Hanson Industries FTZ4025696 EFFECTIVE 0ATE 10-1-86 POLICY PERIOD 10-1-86 t0 10-1-87 AUTHORIZED )REPRESENTIVE * ____ (IJZ mo-- Complete the above spaces if Ibis endorsement is not attapEedflo the policy uben issued. GENERAL ENDORSEMENT ^ 16 In consideration of the premium charged, it is hereby understood & agreed that endorsement #3, as respects Durkee Foods, is amended to read Durkee Famous Foods. i : w ;n;r *r 'r ::vw %'s hmm mxwsn ^ J;' TATE IN3SME LAS m SESS-ATieS m ..ESifflT ?!;!! MC:sc 8/21/87 F.14004H--4*73 THISPOLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS! ^_ GI/D054048 0049-GLD-000054048  INSURED (- ........ ' ..V* ~ J _ POLICY NUMBER Hanson Industries, Inc, FTZ4025696 GUEAT/WERKaN INSURANCE COMPANIES EFFECTIVE DATE 4-1-87 POLICY PERIOD 10-1-86 ,to 10-1-87- AUTHORIZE 1 Complete the above spaces if this endorsement is not atttfchec to the policy when issued. GENERAL ENDORSEMENT m la consideration of the additional premium of $21,042, it is hereby understood and agreed that Kaiser Cement Corporation is. added.as an additional named insured. ' i,5V'tfi m is GR; ft 5-19-8.7 : * f1*! : i' 1; U J iS * fU%U l t U*w*U F.14004H--4-73 THISPOLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS ;n*v ,'^C GLD054049 0049-GLD-000054049 L_ INSURED ( POLICY NUMBER Hanson Industries, Inc, EFFECTIVE OATE POUCY PERIOD /\ FJZ 4025696 a u t h o w i^h p mj^nesEN-^r^e A/1/87 10/1/86 to 10/1/87 Complete the ebcve spaces if this endorsement is not atjUchjd to the policy when issued. GENERAL ENDORSEMENT # 1 RIP AHD TEAR EXCLUSION In consideration of the premium charged, it is agreed that coverage as afforded by this policy does not apply to any liability resulting from the removal, withdrawal, repair or replacement of concrete, piping, roofing, vinyl siding or fiberglass products nor the "loss of use" of tangible pro perty including but not limited to materials, parts, equip ment and labor costs to remove, withdraw, repair or replace concrete, piping, roofing, vinyl siding or fiberglass products. GR: ki 5/29/87 F.14004H -- 4-73 tlku. THIS POLICY IS SUBJECT OTHERWISE TO ALL ITS TERMS. GLD054050 0049-GLD-000054050 REORDER FROM W. HARTFORD. CONN. 7)tJyi S''Jkof\ ecnolk "I FRED. S. JAMES & CO. OF NEW ENGLAND .INC. 40 Broad Street Boston, Massachusetts 02109 617 357-6600 Imurantt Brokm Since 1B5B mmzjmmm? nmi-M Jbt. JdfiGkJif/tfh*f y&Wc/tV'Z f /d-------- ss*~t /?<*#i 7Z --'RECEIVES :H0V 2 41036 -Hasw l;!d!'f|jiertne.- -v -. -;v v--.-..';:-,. --. : SIGNEtZ . GLD054051 0049-GLD-000054051 55 17546 I#! Former Pofcvy.No. JiJeiy Excess Third Party Liability Policy DECLARATIONS 5 St. Paul Surplus Lines Insurance Company St. Paul, Minnesota 55101 A Capital Stock Company Herein callad the company o o . Item 1 . NAMED INSURED AND ADDRESS: Henson Industries 410 Perk Avenue New York, NY 10022 i hem 2. POLICY PERIOD: * From To 10-1-86 10-1-87 Item 3. PREMIUM COMPUTATION: , Premium Basis AUDIT PERIOD: (If Applicable) *12:01 A.M. Standard Time at the Annual unless otherwise stated. H/rMa ATM*1: address of. the I nsured as stated herein. Estimated Exposure Rate. Minimum Premium Total Advance Premium . . Sales !$3,400,000,000. 2.94 jSl,Q00,QQ0. si .000.000. Item 4. UNDERLYING INSURANCE: "' - "* Insurer's Name Policy No's. (Including Renewals or Replacements) Description of Coverage 1 *.<. National Union Fire Insurance Company To be advised Unbrella Liability Item 5. LIMITS OF LIABILITY: The limit of the Company's liability shall be as stated herein.- subject to all terms of this Policy having reference thereto. SECTION 1 COMPANY LIMITS in excess of 1 SECTION II UNDERLYING l imit s - COVERAGE s Each person $ Each person AUTOMOBILE s Each occurrence $ Each occurrence Bodily Injury $ Each occurrence . Each occurrence $ Each occurrence and Aggregate $ Each occurrence and Aggregate $ Each occurrence and Aggregate $ Each claim and Aggregate '.5)5.000.000. ^' Each occurrence and Aggregate i 1 !$ f ;$ ;* : $. i :$ $ :$ 5 8,000,000i S 8,000 ,000. Each occurrence Each occurrence Each occurrence Aggregate Each occurrence Aggregate Each occurrence and Aggregate Each claim Aggregate Each occurrence Aggregate i Property Damage Combined Single Limit | LIABILITY OTHER THAN AUTO Bodily Injury Property Damage Combined Single Limit PROFESSIONAL LIABILITY COMPREHENSIVE CATASTROPHE OR UMBRELLA LIABILITY 10-23-86 gab COUNTERSIGNATURE DATE 299t9 Rev. 4-86 Printed in U.S.A. St. Paul. HN COUNTERSIGNED AT AUTHORIZED REPRESENTATIVE ISKhul GLD054052 0049-G LD-000054052 St. feu! Surplus Lines Insurance Company tfemsoo Industries NO._*. -MDORSEMENT _____ TO POLICY NO. ,S5 17546 EFFECTIVE DATE 10-1-36 ADDITIONAL PREMIUM . RETURN Ml mcatfi jlii&lfcs fixoasics It is agreed that this policy shall sot apply to any liability arising out osf aircraft protects or reliance tpca any representation or warranty node sdtb respect thereto, or to any liability arising out of the groaading of any aircraft* "Aircraft Products* warns aircraft (Including nlsailoa or spacecraft) and any other goods or protects amaiftetured, sold, tendLed or distributed or services provided or raocawented by the insured or by otters trading trader your name for use is the aasufte&ere, repair, operation, naintecanoo or use of any aircraft. Grounding" asan tte withdrawal of one or sore aircraft from flight opera tions or the iopoaltion of speed, passenger or load restrictions on such aircraft, by reason of the existence of or alleged or suagraeted existence of any defect, ffeult or condition in such aircraft or any part thereof sold, handled or distributed by the Insured or taannfhefcarad, asasBb&ed or processed by any otter person or organixatlca according to specifications, plans, suggestions, orders or drawings of the insured or with toeds, machinery or other eqaipraeot furnished to such persons or Organisations by the insured, Whether sacb aircraft s withdrawn are osmed or operated by tte owes or different persons or orsanlzar- tiens. All other terms and conditions remain unchanged. 24081 Rev. 4*80 Printed In VS.A. By______________________________________ Authorized Reoresentative AUTHORIZED REP. COPY GLD054053 0049-GLD-000054053 AAA St. teul Surplus Lines Insurance Company NAMED INSURED Hanson ladsstrfes wo 2 ' ENDORSEMENT t o po l ic y n o . 5S 17546 EFFECTIVE DATE 10*1-86 C3 ADDITIONAL Q RETURN PREMIUM S * insciaMBaengg^^ s s c u bis m It is atmd this polity shall not apply to personal injury arlsias cot of discrisdnatioa or wrongful termination with respest to the csglepent of or failure to enpfcy any persons* All other terms and conditions remain unchanged. 24081 Rev. 4-80 Printed m u.S.A By_______________ :______________________ Authorized Representative r - * 7 :* c rn GLD054054 0049-GLD-000054054 It la agreed that this policy shall not apply to any obligation for which the H3S8RKD, or any carrier as his insurer, say be held liable under any worker's compensation, oceopaticnal disease, meaployioeDt coepensatioa or disability benefits lew, under assy other similar Ian, lneXudtng United States Longshoremen's and Harbor Worker's Act, Federal Baployers* Liability Act or the Jaws Act. All other terms and conditions remain unchanged. 24081 Rev. 4-80 Printed in U.S.A. By______________________________________ Authorized Representative c r: r GLD054055 0049-GLD-000054055 NAMED INSURED St. FSuJ Surplus Lines Insurance Company Hasson Industries .INDORSEMENT NO_____*_TO POLICY NQ._ ICO S5 17546 EFFECTIVE DATE 10-1-8S ADDITIONAL RETURN PREMIUM $ .MI It la hereby understood and agreed that this policy shall not apply to any and all dados and liability arising out of (kastgational Disease. "Odoopatiocad. Disease* is defined as follows* Disease, das to aondltkes peculiar to the particular trade, occupation, or n&eywnt in t&igi the employee is exposed to the All other terms and conditions remain unchanged..- 2408 X Rev. 4-80 Printed in U.S.A. ,V By--------------------------------------------------------- Authorized Representative pr:-. rf;py GX.D054056 0049-GLD-000054056 It is understood aed agreed that such insurance sa is afforded by the policy shall not apply to any Plain based upon or arising oat of the premi ses, operations, products or completed operations of the foliating* Interstate Doited Durkee Famous Foods Glidden Faints All other terms and conditions remain unchanged. 24061 Rev. 4-80 Printed In U.S.A. By______________________________________ AutborizadRepreientative n PF?. COPY GLD054057 0049-GLD-000054057 NAMED INSURED AAA St. Paul Surplus Lines Insurance Company Hanson Industries .ENDORSEMENT NO.*LTO POLICY NO.,, LCO SS 17546 EFFECTIVE DATE --waarwiewMutri riae.c.a 10-1-86 O ADDITIONAL RETURN PREMIUM $. H11 AIRCRAFT l&SrmOB It la agrmed that this policy shall not apply to any liability far personal injury or property dosage arising oat of the ownership, aaintenanoe, operation, use, loading or unloading of any aircraft, miens each liability is covered by valid and collectible underlying insurance as listed In tin Schedule of Underlying Insurance, for the full Halt aboan therein, and than only for such, hazards for Hhieh coverage Is afforded tinder said cnderlying Insurance. i 1i it 1{ ii IL' l All other terms and conditions remain unchanged. 24051 Rey. 4-60 Printed in U.S.A. By______________________________________ Authorized Representative AI 'Tqr,|?!/:*n Rpp C.OPV GLD054058 0049-GLD-000054058 NAMED INSURED St. Paul Surplus Lines Insurance Company Hanson Industries NO.. . -NDORSEMENT t o p o l ic y n o .__ LCQ SS 17546 EFFECTIVE DATE 10-1-8$ ADDITIONAL PREMIUM $_ H1 RETURN fOHWLDBgng sseusm It Is uadterstood sad agreed that the insurance afforded ty this policy shall not spoil? to any elate based qpca or arising out of the waaifaataro, sale, distribution, handling, installation, repair, raxrr&l, disposal or use of any product containing fcraaldefcyde. All other terms and conditions remain unchanged. 24081 Rev.4-80 Printed In U.S.A. By------------------------------------------------------------------------------- :--:------------------------ Authorized Representative AUTHOR!?!-;:') PEP. COPY GLD054059 0049-GLD-000054059 AAA St. Paul Surplus Lines Insurance Company it^.QPn Kaason Industries wn 8 ENDORSEMENT t o p o l ic y n o i-CO S5 17546 EFFECTIVE DATE t~l"86 PI ADDITIONAL RETURN PREMIUMS 811 FQRSKH UA83USX It is agreed that the Insurance afforded by this policy shall apply idth respect to liability arising out of FereJ&i Liability but only if such liability Is oorered by mild end oollectibla underlying Insurssnoe by m underlying policy listed in the schedule of underlying insurance and then only for each hazards for tfcleh ccnrerage is afforded by aald underlying i Ail other terms and conditions remain unchanged. 24061 Rev. 4-80 Printed In U.S.A. By______________________________________ Authorized Representative ^n*,\7?C Rt?P. COPY GIID054060 0049-GLD-000054060 - ze- NAMED INSURED St. Paul Surplus Lines Insurance Company ttaasoft Industries NDORSEMENT NO______ Z._____TO POLICY NO. LCO SS 17546 EFFECTIVE DATE. 10*1-86 ADDITIONAL RETURN PREMIUM S W* wsmsm usmmm It Is agreed that this policy shall not apply to any liability for personal injury r property daaasge arising sot of the ownership, aaintenaece, opera tion, use, leading or unloading of any mtererart, unless auoh liability is. covered ty solid and ooUeotlble tnderlying insuranoe as described in the schedule of underlying iswrawse, and then only for sw* hazards for ahlch coverage is afforded WJder said tssderlying insurance. All other terms and conditions remain unchanged. 240*1 Rev. 4-80 Printed In U.S.A. By___________________________________ _ Authorized Reprwarmtlvo AUTHOR'ZTEO REP. COPY GLD054061 0049-G LD-000054061 A' St. Raul Surplus lines Insurance Company NAMED INSURED. Hansen Industries ENDORSEMENT n o ..__J?_...... t o po l ic y n o t-CQ 5S 17546 EFFECTIVE DATE 10-1-86 ADDITIONAL RETURN PREMIUM $ Mil itistffiMce csmsx jaBOBseaear Xt Is agreed that this policy dens not apply to the liabilities of tbs insured* (a) any obligation assused by the insured as aa insurer raider contract of Insuraaos, suretyship or reinsurance, (b) liability of the insured resulting fro errors or emissions in the writing or flailing to write contracts of insurance, suretyship or reinsurance, (e) liability of the insured for failure to settle any claim made raider any contract of insurance, suretyship or reinsurance, (d) property damage to negotiable end noa-nagotiable instruments or contracts representing soney or other property, real or personal, or other property the custody of which the insured has undertaken in any fiduciary as trustee, guardian, custodian, escrow or slallar capacity either gratuitously or otharuise whether legally liable therefore or not. All other terms and conditions remain unchanged. 24081 Rev. 4-fiO Printed in U.S.A. By_________ ____________________________ Authorized Representative AUTHORIZED RFP. CO?'.' GLD054062 0049-GLD-000054062 St. Paul Surplus Lines Insurance Company ton*** Industries -NDORSEMENT MO........11 ...... TO POLICY NO. i- 55 17S46 EFFECTIVE DATE 10-1-66 Q ADDITIONAL RETURN PREMIUMS. 611 JOUff WHOTBS/fflaUMJES aCELCSEJS It Is hereby understood sad agreed that any jolat wntares or icrep-qpft todertalcen by the lastxred, are not cowered coder this policy unless apeeafleally scheduled. All other terms and conditions remain unchanged. 24081 Rev. 4-80 Printed In U.S.A. By_____________ ________________________ Authorized Representative AUTHORIZED PEP. COPY GLD054063 0049-GLD-000054063 entitled to tacnvoi ui'iSui tins >*< t:v to thi; -r*!ti-f o' '.'it: ittstiw.'l .I'lwihaJ Uy W-inv Minhmjj U:(1 in tilts Pmiity sluill tfivtl itrtV t'Ot sort of liigyiiz.ifun <my i Ill'S tt join fw i~:,u,|:,i>.y .1*. .1 .:.i ili-VtiJ.int -i? invert'nr: i.],'i-,si !)i>! In.silfi!fl to (ioi-runiuij tin* insured's liability Any payments tty the Company ucwta-1 It s CuciJmoi'.sNill ilisch.iiiie tli'j Cuiimany's to ;h" li-sur-jil ns the extent ol such payments. Bankruptcy Of insolvency 0* the insured ut o' thtt If.su*h i iit. .h;s:: nut ir-hevu tha Company of imy of its obligationshuruundur. 4. Subrogation and Other Recoveries In trie event of any payment under inis Policy, thu Company shall bn subrogated :o tin the insured's rights of recovery therefore against any person or erganizotion and the Insured snail execute ;md deliver instruments and papers and do whatever else is necessary to secure Such rights. The Insured short do nothing after tha occurrence to prejudice such rights. Because this Policy affords excess coverage, tne insured"s right of rocovery cannot always lid exclusively Subrogated to the Company. It is, therefore, agreed that the Company shall act in concert with all other interests concerned, including the insured, in the enforcement of any subrogation rights or in the recovery of amounts by any other means. The apportioning of any amounts so recovered shall follow in the principle that any interest, including the Insured, that shall have paid sn amount over and above any payment under this Policy shall first be reimbursed up to the amount paid by such interest; the Company shall than be reimbursed out of any balance than remaining up to the amount paid as the result of loss covered under this Policy; and lastly, the interests, including the insured, of whom this coverage is in excess are entitled to claim any residue remaining. Expenses and costs neces sary to the recovery of any such amounts shall be apportioned between the interests concerned, including the Insured, in the ratio Of their respective recoveries or in the even; of a totally unsuccessful attempt to recover,, in the ratio of the respective amounts sought to be recovered. 5. Other Insurance This Condition does not apply with raspect to the "underlying insurance" or excess insurance purchased specifically to be in excess of this Policy if, with respect to a loss covered hereunder, the Insured has other insurance, whether on a primary, excess or contingent basis, there shBlt be no insurance afforded hereunder as respects such loss; provided, that if the applicable limit of liability of this Policy is greater than the applicable limit of liability provided by the other insurance, this Policy shall afford excess insurance over and above such other insurance in an amount sufficient to give tha Insured, ss respects the layer of coverage afforded by this Policy, a total limit of liability equal to the applicable limit of liability afforded by this Policy. 6. Cancellation This Policy may be cancelled by the Mamed insured by mailing c q the Company written notice stating when thereafter the cancel lation shall be effective. This Policy may be cancelled by the Company by mailing to the Named Insured at the address shown in the Declarations written notice stating when not less than ten days thereafter such cancellation shall be effective. The mailing of notice as aforesaid shall be sufficient proof of notice. The effective date of cancellation stated in the notice Shell become the end of the policy period. Delivery of such written notice either by the Named Insured or by the Company shall be equivalent to mailing. If tha Mamed Insured cancels, earned premium or minimum premium, whichever is greater, shall be computed in scccrdanca with the customary short rate, table and procedure. If the Company cancels, earned premium or minimum premium, whichever is greater, shell be computed, pro rata. Premium adjustment may be made either at the time cancellation is effected or as soon as practicable after cancellation becomes effective, but payment or tender of unearned premium is not a condition of cancellation. 7. Maintenance of Underlying Insurances It is a condition of this Policy that the policy or policies referred to in Item 4 of the Declarations, including renewal or replacements thereof. Shall be maintained, without alteration of terms or conditions, in full effect during the currency Of this Policy except for any reduction or exhaustion of the aggregate limit contained therein solely by reason of losses that arise out of occurrence which taka place during the period of this Policy. Failure of the Insured to comply with the foregoing shBlI not invalidate this Policy but in the event of such failure the Company shall be liable hereunder only to the extent that it would have been liable had the Insured 1 complied therewith, j 8. Service of Suit The following Service of Suit Clause is not to become effective unless or untit the insured has notified this Company in each specific claim of its intention to sue. ; Service of Suit Clause; It is agreed that in the event of the failure of this Company ta pay any amount claimed to be due hereunder. ! this Company, at tha request of the insured, will submit to the jurisdiction of any Court of competent jurisdiction within the United States and will comply with ail 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 ia further agrasd that service of process in such suit may be made upon the highest one in authority bearing the title "Commis sioner", "Director", or "Superintendent" of Insurance of the state or commonwealth wherein the propaity covered by this policy is located, and that in any suit instituted against it upon this contract this Company will abide by the final decision of such Court or any Appellate Court In the event of an appeal. Tha one in authority bearing the title "Commissioner", "Director", or "Superintend ent" of Insurance ol the state or commonwealth wherein the property covered by this policy is located is hereby authorized and directed to accept service of process on bshell of this Company in any such suit and/or upon the Insured's request to give a written undertaking to the Insured that they will enter a general spoaarance upon this Company's behalf In the event Such a suit Shall be instituted. IN WITNESS WHEREOF. Tha Company designated on the Declaretions page has caused this Policy to be signed by its President and Secretary and countersigned on the Declarations page by a duly authorized representative of the Company. 0049-GLD-000054064 HAR 31 'ST 13:36 RNE-:Cu-EgTON. tj> CO|i:m Oltf ttfrtr A0R61-: :r. vt LSi:i,t<t: **.* *'**'.{' I 111!. jKilii.f > .,jn * u;mn Um* Mtiiunvj';s m.Kjf* io liic C ik w i* *j v <2;S u!ij*;C: Uj , i.,, **\ (tt* frwHi. lk til tfw l* <losif>i*'<< Oh iiJMKY on the Qeeiarjilion* page, Herein callnd the Comp.-mv. A Capital Slock Company. ti, INSURING AGREEMENTS 1._CCN.,1Kl|l To indciw .. which ie n....... ,,t inxmdjiiYci; with pi applicable provisions of the "immedial* underlying policy" for the amount of "toss" Limits ul the "underlying insurance" described in Item 4 of the DaolaiCtions. .... > ih> 'immediate underlying policy'' are incorporated as part of this Policy except for any obligation' to investigate and defend >,,,,, ,im,i i.xpunses incident ta *.t'e same, the arnci/n; of tha limits of liability, any "other insurance" prevision and ny Odin# flu,>IM,,S iheMim winch are inconsistent with tha provisions o' this Policy. Thu Pntit., .1))tl|y only ,t> coverayus lor which an amount is indicated <n Section I of Item 5 of the Declarations and than only in excess dl it,,i..... Hsuondiny amount shown in Section i! of Item S of tha Declarations. It. POUCY f'fcpjQj} OectaUorH ,,*",i** <St'lV l " l0SS" 'lris'n8 0lJt * !riiurY. damage or destruction which occurs during the policy period stated in the III. UMITS Oh 1.1a b il it y Regardless ot rim number of OI insureds under this Policy, or t2t persons or organisations to whom the Insured may be liable for loss. the Company's lability shall not exceed the amounts stated in Section i of Item 6 of the Declarations. A With resin,m to coverages for which an aggregate limit is shown in Section I of Item 5 of the Declarations, aggregateWeans the total limit i>t the Company's liability during any one aggregate period either (II with respect to eny cause of loss for which the "underlying Insurance" has an aggregate limit, or 121 with respect to tha "product* hazard" or tha "compietsd operations hazard (ns defined herein) if the "underlying insurance" does not contain an aggregate limit with respect to these hazards. 6. Reduction Oi Tha Aggregate 1 This provision applies only If this Policy contains an aggregate limit of liability which Bpplies to the occurrence. If the limit of liability of the "underlying insurance" is less than es stated in Section II ol Item 5 of the Declarations because the aggregate limits of liability of tha "underlying insurance" have been reduced, this Policy becomes excess of such reduced limit of liebilny if such reduction is solely the result of injury or destruction occurring after the Inception date of this Policy and not before. Nothing contained herein shall operate to increase the limit of the Company's fiabilitv- C. Application Of The Aggregate To Periods Of Tima The aggregate limits of liability of the Policy apply separately to each aggregate period. The first aggregate period of this Policy begins on the effective date ol this Policy and ends on the next termination dale of the aggregate period of the "immediate underlying policy." Any succeeding aggregate period of this Policy is concurrent with the aggregate period of the "Immediate underlying policy" unless it Is the final aggregate-period. The final aggregate period of this Policy begins on the termination date of the aggregate period of the "Immediate underlying policy" immediately preceding the expiration date Of this Policy and ends on the expiration date of this Policy. NUCLEAR ENERGY LIABILITY EXCLUSION U is agreed that tha insurance afforded under eny liability coverage of thisPolicy Or of eny endorsement used here i 1. Under any Liability Coverage, to injury, sickness, disease, death or destruction .. . .Iifu ,icv ,g3UECj by Nuclear (al with respect to which an Insured under me Policy is also an insured under a f Nuclear Insurance Association of Energy Liability Insurance Association. Mutual Atomic Energy bab.lity -XiK of liability; or Canada, or would be an insured under any such policy but for its termination upon exhauei ^ orfla(,Ugtion i6 (b) resulting from the hazardous properties of nuclear material and with respec a required to maintain financial protection pursuant to the Atomic Energy Act of . the insured is. or had this Policy not been issued would be entmed to agency thereof, under any agreement entered into by tha United States of Arne . w arrWndatofy thereof, or (2) States of America, or any .Sw^thereof, with any person 2. Under eny Medical Payments Coverage, or under any Supplementatv Payments ^ XThazcrdous properties of cal relief, to expenses ir.curtad with respect to bodily injury sickness, disease Or death resulting from the nazeroo nuclear material end arising out of the operation of a nuclear facility by any person or o 9 hazardous properties of nudea' 3. Under any Liability Coverage, to Injury, sickness, disease, deatn or destruction resulting from the hazardous proper, material, if , , Insured or 121 has been dis tal the nue'ear materia! n> is at any nuclear facility owned by. or operated by or on e a a , charged pr dispersed tharefrom; ,,, (b! the nucieai mstenai is contained in spent fuel or wsste at any time possessed, handle .use. j etneati transported or disposed of by or on Dehalf of an Insured; or lei the injury sickness, disease, death or destruction arises out of the furnishing by n equipment in connection with the planning, construction, maintenance, opareti facility is locr'ad within the United States of America, its territories or possessi to injury to or destruction of property at such nuclear facility. 4. As used in this Policy: . aefvjces> materials, parts or facj|jty; but if et*1* . ,u-l8 axet0sSon (cl applies only "hazardous properties" irim.ioe radioactive, io x ic or explosive properties, "nuclaar malarial" means source material, soeeial nuclear material or byproduct materia . Atomic Energy Act wee material". "*P*clal nuclear maW. end "byproduct material" have the meanings given them of f354 or in any taw tundiidstory thereof; to radiation m * nuilesr "spent tuet" means av f .,u\ element or fuei component, so'io or liquid, which has been used 0 a P reactor; 61.0054065 0049-GLD-000054065 TOR 31 '87 13:37 ^CKCO-EjgSTON P.4 ti ; *i /..:*.f* .t w* iv ".}* ! y r<.l,: . 1* ., ui . 'r*::'1- t'> '!i- .... "mishtnr utility'' i.:i .my iiuclmi* r,),..:i.;r. :i!` .-iny sIk i/Cs Wi.iynnd .Or ik o o '<( : : s.;t;,vr:uii'i; ;>>.. ;:>!.sias oi iy h 'm;v . nr oliitottiiiin. i2! processing nr utilizing 1>- *3-' juno.-SS'ng O' |<:K.i;;iny wfedi: (c: any n:jui;invrV yr device i.susi (or thu tBOCes;fir.tj. 'linr;,iUi<j m .ilioymg s.'Jr.'C'rtl nuuhSi'i! material 4 ill any time tha tots! amount f such ;i'.>r,r;r::il m tuts hsititbdy of tho Insured at the: tirem scs whom s.irtli or iIk v ic h it. located consists of Oi contains mora than 2S g'sem of plutonium or uiwvinn 233 t>' wv combination thereof. or 'tiara than 250 grams of uranium 235. <(; any strode'.*. t>:<sit*. excnvnt'.t/p. premises (: place prepared or used la* thu stiiratic or disposal of waste, and includes the site on which any of tltc foregoing is located, a'.; operations conducted ot: such sits and rtll premises used for such operations; "nuclear raactor" means any apparatus designed or used to sustain nuclear fission in a self-supporting chain reaction or to contain a critical mass of -issionahle material: With respect to injury to or destruction of property, the word "injury" or "destruction" includes all forms of radioactive contami nation of property DEFINITIONS 1. Immediate Underlying Policy "Immediate undertying policy'1 means the policy of the "underlying insurance" which provides the layer of coverage, whether primary or excess, immediately preceding the layer of coverage provided by this Policy. 2- Lass "Loss" means the sums paid as damages in settlement of a claim or in satisfaction of a judgment for which the Insured is legally liable, after making deductions for all recoveries, salvages end other insurances (whether recoverable or not) other than the "underlying insurance" and excess insurance purchased specifically to be in excess Of (his Policy "Leas" does not include inves tigation, adjustment, defense or appeBl costs end expenses incident to any of the same, notwithstanding that the "undertytng insurance" may provide insurance for such costs and expenses. 3. Underlying Insurance "Underlying insurance" means the insurance policies described in Item 4 cf the Declarations end includes erty renewal or replace ment of such policies. 4. Completed Operations Hazard The term "completed operations hazard" includes bodily injury and property damage arising out of oparationsor reliance upon a representation nr warranty made at any time with respect thereto, hut only if the bodily injury or property damage occurs after such operations have baart computed or abandoned and occurs away from premises owned by or rented to the Insured. Opera tions include materials, parts or equipment furnished in connection therewith. Operations shall be deemed completed at the earliest of the following times: ial when ah operations to be performed by or on bahaif of the insured under the contract have bean completed, (b) when all operations to be performed by or on behalf of the Insured at the site of tits operations have bean completed, or (el when the portion of the work Out of Which the injury or damage arises has been put te its intended use by any person or organization other than another contractor or subcontractor engaged in performing operations for a principal as a part of the same project. Operations which may require further service or maintenance work, or correction, repair or replace ment because of any defect or deficiency, but which are otherwisa complete shall be deemed compietedThe completed operations hazard does not include bodily injury or property damage arising out of (1) operations in connection with the transportation of property, unless the bodily 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. 5. Products Hazard The term "products hazard" includes bodily injury and property damage arising out of the Insured's products or reliance upon b representation or warranty made at any time with respect thereto, but only il the bodily Injury or property damage occurs away from premises owned by or rented to the Insured and sfter physical possession of such products has been relinquished to others. CONDITIONS 1. Underlying Insurance --Changes During this Policy Period Any change >n coverage or premium in tha "underlying insurance" shall be promptly reported to the Company and the Insured shBlt upon request. Tarnish the Company with copies Of such changes. Any change in the premium *or tne "underlying Insurance" shall be promptly reported to the Company and tha premium for this Policy, subject to the minimum premium, may be adjusted accordingly 2. Notice of Loss: Participation in Detense by the Company Notice of an occurrence which appears likely to involve this Policy shall be given by or on behalf of the Insured to the Company or any of its authorized agents as soon as practicable. The Company at Its own option may, but is not required to, participate in tha investigation, settlement or defense or any claim or suit against the Insured. In the even: expanse m connection with any claim or suit is incurred jointly by mutual consent of the Company and of the Insured or the Underlying Insurer, the Company in addition to its limits of liability as expressed in Item 5 of tha Declarations shall be liable for no greater proportion or such expense and/or costs than the amount payable by the Company under this Policy bears to the total loss payment. 3. Action Against Company Mo action shar! ire against tn Company unless, as o condition precedent thereto, the Insured shall nave fully complied with ail the terms of this Policy i !il ii ii r t- 0049-GLD-000054066 <1 DECLARATKT" UMBRELLA LIABILITY POLICY NO. BE 943 9790 Member Companies of American International Group AMERICAN HOME ASSURANCE COMPANY ITEM 1. Name of Insured rilanson Industries, Etal (see Endorsement #1) 410 Park Avenue ~i 60 NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA. 70 Pine Street, New York, N.Y. 10270 Address New York, NY 10022 (Executive Offices) (Street, Town State) |__ j This Declaration page, with policy provisions and endorsements, if any, issued to form a part thereof, completes the above numbered Umbrella Liability Policy. ITEM 2. Policy Period From: October 1, 1986 To: (12:01) A.M. Standard Time at the address of the Insured stated above) October 1, 1987 The limit of the Company's liability shad be as stated herein subject to all the terms of this policy having reference thereto (A) $ 8,000,000 .Single Limit any one occurrence Personal Injury or Property Damage or Advertising Liability or any combination thereof. ITEM 3. Limit of Liability (B) s 8,000,000 in excess of (1) the amount recoverable under the underlying insurance as set out in the attached Schedule A. or (2) s 10,000 ______ ultimate net loss In respect of each occurrence not covered by said underlying insurance. _ in the aggregate for the policy period or each annual period in accordance with the "Limit of Liability--Retained Limit" Section of the policy. ITEM 4. Premium Computation Rating Basis Flat Deposit Premium $ 1,500,000 Estimated Exposure Rate Flat Estimated Premium Minimum Premium $ 1,000,000 Audit Period Producer: (Name and Address) r Peter Bove Fred S. James & Co. Inc. 40 Broad, Street. JAMES & CO. Boston, MAoiOa02NGXUua>,lNC. Date of Issue 12/4/86 Policy Text Form No. 23022 (S/77) 23020 (5/77) Countersigned by. C raw By 30440 (12/80) GLD054067 0049-GLD-000054067 ENDORSEMENT policy No. This endorsement, effective 12:01 AM. October 1, 1986 issued to Banson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. SCHEDULE OF UNDERLYING INSURANCE Type of Policy or Coverage Insurer Limits forms a pan of Bodily Injury Liability % each person 4 each occurrence 4 aggregate Comprehensive General Liability including Products National Union Fire Insurance of Pittsburgh, PA Property Damage Liability $ each occurrence 4 aggregate Combined Single Limit 42,000,000 Bodily Injury Liability 4 each person 4 each occurrence Automobile Liability National Union Fire Company of Pitts,PA Property Damage Liability 4 each occurence Combined Single Limit 42,000,000 11*; >hJ, i.f'L". AUTHO R l^iQiRH'BESSffTATIVE GLD054068 0049-GLD-000054068 ENDORSEMENT policy No. This endorsement, effective issued to 12:01 AM. October 1, 1986 Hanson Industry bY National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of Standard Workmen's Compensation and Employers Liability National Union Fire Insurance Company of Pittsburgh, PA Coverage B employers Liability $100,000 each accident miscellaneous Liability Comprehensive General Liability including Products (Canada) American Home Assurance Company Automobile Liability (Texas) National Union Fire Insurance Company of Pittsburgh, PA Automobile Liability (Canada) American Home Assurance Company Standard Workmen's Compensation and Employers Liability (California) National Union Fire Insurance Company of Pittsburgh, FA Standard Workmen's Compensaton and Employers Liability (AZ, CO, ID, MD) Birmingham Fire Insurance Company of P ennsylvania Advertisers Liability Seaboard Surety Aviation Liability 1. Hanson Industries USAIG Combined Single Limit $2,000,000 Combined Single Limit $2,000,000 Combined Single Limit $2,000,000 Coverage B Employers Liability $ Unlimited each accident Coverage B Employers Liability $100,000 each accident Combined Single Limit $1,000,000 $100,000,000 r t ' f " a p .** * v. ENGLAND, iitG. AUTHORIZ^^pai^I&TIVE GLD054069 0049-GLD-000054069 ENDORSEMENT This endorsement, effective 12:01 AM. October 1, 1986 policy No. issued to Hanson Industries W National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of Employees Compensation American International (Hong Kong) Underwriters, LTD Private Automobile Liability (Hong Kong) QBE Insurances K Ltd Third Party Bodily Injury HK t Unlimited Third Party Property Damage HK $2,000,000 General Liability (Unifast/Belgium) Assubel Bodily Injury-BF 100,000,000 Property Damage-BF 5,000,000 Product liability (Unifast/Belgium) Assubel Combined Single Limit BF 50,000,000 GLD054070 0049-GLD-000054070 This endorsement, effective ENDORSEMENT n 12.01 AM- October 1, 1986 policy No. EMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of In consideration of the premium charged, it is understood and agreed that the Named Insured is amended to include: Hanson Industries and any other owned, controlled, affiliated or subsidiary (including a subsidary thereof) company or any other organization in which the Insured acquires active management or financial control. All other terms and conditions remain unchanged. r^D S. JAMES & CO. OF NEW ENGLAND, INC. BY AUTHOR ATIV E GLD054071 0049-GLD-000054071 This endorsement, effective policy No. KMBE9439790 issued to ENDORSEMENT #2 12.01 AM. October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of ERISA EXCLUSION In consideration of the premium paid, and not withstanding anything contained in this policy to the contrary, it is agreed that coverage afforded under this policy shall not apply as respects liability imposed upon an insured (or which is imputed to an insured) under the "Employee Retirement Income Security Act of 1974" Public Law 93-406 and any law amendatory thereof. All other terms and conditions remain unchanged. AUTHORIZED REPRESENTATIVE GLD054072 0049-GLD-000054072 This endorsement, effective ENDORSEMENT #3 12:01 AM. October 1, 1986 policy No. BMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of PERSONAL PROPERTY CCC EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to property damage to: 1. Personal property leased to the Insured; 2. Personal property used by the Insured; 3. Personal property in the care, custody or control of the Insured or as to which the Insured is for ary purpose exercising physical control. All other terms and conditions remain unchanged .'j. ti L'O. OF NEW ENGLAND, INC. AUTHORIZED REPRESENTATIVE GLD054073 0049-G LD-000054073 This endorsement, effective ENDORSEMENT #4 12:01 AM. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries bv National Union Fire Insurance of Pittsburgh, PA forms a part of REAL PROPERTY EXCLUSION In consideration of the premium paid, and 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 Property Damage to: (1) Real Property occupied by or leased to the Insured; (2) Real Property used by the Insured; (3) Real Property in the care, custody or control of the Insured or as to which the Insured is for any purpose exercising physical control. All other terms and conditions remain unchanged. ED 5. JAMES & CO. OF NSW ENGLAND, INC. BY AUTHORIZED REPRESENTATIVE GLD054074 000054074 ENDORSEMENT 05 This endorsement, effective 12:01 AM- October 1, 1986 policy No. RMBE9439790 issued to Eanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of DIRECTORS AND OFFICERS LIABILm EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any director and/or officer of the Named Insured by reason of any wrongful act committed in their capacity as a director and /or officer of the Named Insured. It is further agreed that the term "wrongful act" shall be defined as, but not limited to, any breach of duty, neglect, error, misstatement, misleading statement, emission or other act actually done or wrongfully attempted by any director and/or officer claimed against them solely be reason of their capacity as such. All other terms and conditions of the policy remain unchanged. ZD S. JAMES A CO. OF NEW ENGLAND, INC. AUTHORIZED REPRESENTATIVE GLD054075 0049-GLD-000054075 e n d o r s e me n t #6 This endorsement, effective 12:01 AM. October 1, 1986 policy No. KMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of PUNITIVE DAMAGES EXCLUSION In consideration of the premium charged it is agreed that coverage afforded by this policy shall not apply to any fines, penalties, punitive or exemplary damages. All other terms and conditions remain unchanged. AUTHORIZED REPRESENTATIVE GLD054076 0049-GLD-000054076 policy No. ENDORSEMENT #7 This endorsement, effective 12:01 AM. October 1, 1986 RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of ASBESTOS EXCLUSION ENDORSEMENT In consideration of the premium paid, and withstanding anything contained in this policy to the contrary, it is agreed that insurance as is afforded by National Union Fire Insurance Company of Pittsburgh, PA., Policy N6JRMSLA1979080 for PERSONAL INJURY liability and PROPERTY DAMAGE liability is subject to the following exclusion: This insurance does not apply to any liability for property damage, personal injury, sickness, disease, occupational disease, disability, shock, death, mental anguish, and mental injury at any time arising out of the manufacture of, mining of, use of, sales of, installation of, distribution of, or exposure to asbestos products, asbestos fibers or asbestos dust, or to any obligation of the Insured to indemnify any party because of damages arising out of such property damage, bodily injury, sickness, disease, occupational disease, disability, shock, death, mental anguish or mental injury at any time as a result of the manufacture of, mining of, use of, sales of, installation of, distribution of, or exposure to asbestos products, asbestos fibers or asbestos dust. It is further understood and agreed that the National Union Fire Insurance Company of Pittsburgh, Pa., not obligated to defend any suit or claim against the Insured alleging personal injury or property damage and seeking damages, if such suit or claim arises from bodily injury or property damage resulting from or contributed to, by any and all manufacture of, mining of, use of, sales of, installation of, distribution of, or exposure to, asbestos products, asbestos fibers or asbestos dust. GLD054077 0049-GLD-000054077 This endorsement, effective ENDORSEMENT #8 12:01 AM. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of EMPLOYEE BENEFITS EXCLOSION In consideration of the premium charged it is agreed that this policy shall not apply to any claim or claims arising out of employee benefits liability. All other terms and conditions remain unchanged. >. JAMS 3 CO. OF NEW ENGLAND, INC. AUTHORIZED REPRESENTATIVE GLD054078 0049-G LD-000054078 ENDORSEMENT #9 This endorsement, effective 12 :01 M. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a pan of POLYCHLORINATED BIPHENYLS EXCLUSION In consideration of the premiiau paid, and withstanding anything contained in this policy to the contrary, it is agreed that insurance as is afforded by National Union Fire Insurance Company of Pittsburgh* PA., Policy No. IMJLA1979080 for Personal Injury and Property Damage liability is subject to the following exclusion. This insurance does not apply to any liability for property damage, personal injury, sickness, disease, occupational disease, disability, shock, death, mental anguish and mental injury at any time arising out of the manufacture of, use of, sales of, distribution of, or exposure to Polychlorinated Biphenyls or to any obligation of the Insured to indemnify any party because of damages arising out of such property damage, bodily injury, sickness, disease, occupational disease, disability, shock, death, mental anguish or mental injury at any time as a result of the manufacture of, use of, sales of, distribution of, or exposure to Polychlorinated Biphenyls. It is further understood and agreed that the National Union Fire Insurance Company of Pittsburgh, PA., not obligated to defend any suit or claim against the Insured alleging personal injury or property damage and seeking damages, if such suit or claim arises from bodily injury or property damage resulting from or contributed to, by any and all manufacture of, use of, sales of, distribution of, or exposure to, Polychlorinated Bipnenyls. All other terms and conditions remain unchanged. GLD054079 0049-GLD-000054079 This endorsement, effective ENDORSEMENT #10 12:01 A M, October 1, 1986 policy No. KMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh. Pa forms a part of ^ POLLUTION EXCLUSION It is understood and agreed that the coverage as afforded by this policy does NOT apply to: (1) "Bodily injury" or "property damage" arising out of the actual, alleged or threatened discharge, dispersal, release or escape of pollutants: (a) at or from premises you own, rent or occupy; (b) at or from any site or location used by or for you 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 you or any person or organization for whom you may be legally responsible; or (d) . at or from any site or location on which you or any contractors or subcontractors working directly or indirectly on your 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 you. (2) Any loss, cost or expense arising out of any governmental direction or request that you test for, monitor, clean 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 fe(3; have been recycled, reconditioned or reclaimed. '' AUTHORIZED RPr INt ATiVE 0049-GLD-000054080 policy No. This endorsement, effective BMBE9439790 issued to ENDORSEMENT m 12:01 AM. October 1, 1986 Hanson Industries bv National. Union Fire Insurance Company of Pittsburgh, Pa forms a part of WORKERS COMPENSATION AND EMPLOYERS LIABILITY EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any claim or claims, direct or consequential, arising from Workers Compensation, Employers Liability or Occupational Disease Liability. All other terms and conditions remain unchanged. ....... I/-.. ,, c a \..u GLD054081 0049-GLD-000054081 ENDORSEMENT m This endorsement, effective 12:01 M. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries *>y National Union Fire Insurance Company of Pittsburgh, Pa forms a pert of In consideration of- the premium paid, it is understood and agreed that the following entities are not covered by this policy: Interstate United Dual-Lite GLD054082 0049-GLD-000054082 ENDORSEMENT This endorsement, effective 12:01 AM. October 1, 1986 policy No. BMBE9439790 issued to Hanson Industries bv National Union Fire Insurance Company of Pittsburgh, Pa forms a part of FIDUCIARY LIABILITY EXCLUSION It is understood and agreed that coverage afforded by this policy shall not apply to any liability arising out of any act, error, mistake or omission of any Insured or any Agent or Sub-Agent of arty Insured while acting in a fiduciary capacity. All other terms and conditions remain unchanged. BY AUTHORIZED REPRESENTATIVE GLD054083 0049-GLD-000054083 ENDORSEMENT m policy No. This endorsement, effective RMBE9439790 issued to 12:01 AM, October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa forms a part of LAWYERS' PROFESSIONAL LIABILITY EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any liability for personal injury because of any act or omission of the Insured, or any other person for whose acts or omissions the Insured is legally responsible, and arising out of the performance of professional services for others and the assured's capacity as a lawyer. All other terms and conditions remain unchanged. BY AUTHORIZED REPRESENTATIVE GLD054084 0049-GLD-000054084 policy No. This endorsement, effective BMBE9439790 issued to ENDORSEMENT #15 12:01 AM. October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of ACCOUNTANT'S PROFESSIONAL LIABILITY EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to liability arising out of the rendering of, or the failure to render, professional services for others in the Insured's capacity as an accountant or as an employee of an accounting firm. GLD054085 0049-GLD-000054085 ENDORSEMENT #16 This endorsement, effective 12:01 A M* October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of PROFESSIONAL LIABILITY EXCLUSION ENDORSEMENT In consideration of the premium charged, it is agreed that the coverage afforded by this policy shall not apply to any act, error, emission, malpractice of mistake of a professional nature camitted by or alleged to have been committed by the Insured or any person for whom the Insured is legally responsible and arising out of the Insured's activities as: Real Estate E and 0 Risk/Insurance Managers E and 0 Tax Consultants E and 0 BY AUTHORIZED REPRESENTATIVE GLD054086 0049-G LD-000054086 This endorsement, effective ENDORSEMENT #17 12:01 AM. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa forms a part of "THIS" EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to Personal Injury due to the contact with or use of a chemical known as (2,3, dibroroopropyl phosphate) or "'IRIS" or any derivative thereof. All other terms and conditions remain unchanged. AUTHORIZED REPRESENTATIVE GLD054087 0049-GLD-000054087 ENDORSEMENT #18 This endorsement, effective 12:01 AM. October 1, 1986 policy No. SMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of It is hereby understood and agreed that exclusion "Fii" is amended as follows: Any aircraft owned by the Insured or rented to the Insured without a crew, except to the extent that coverage is provided by a policy listed in the Schedule of Underlying Insurance and then only for such hazards for which coverage is afforded under said Underlying Insurance. All other terms and conditions remain unchanged. BY AUTHORIZED REPRESENTATIVE GLD054088 0049-GLD-000054088 ENDORSEMENT #19 This endorsement, effective 12:01 Am. October 1, 1986 policy No. RMBE9439790 Issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of It is hereby understood and agreed that the Cancellation Provision is amended to read 60 days except for Non Payment of Premium which will remain a 10 day notice of Cancellation. All other terms and conditions retain the same. iiliiilDJU SO.. jii V. OF NEW ENGLAND, :NC. BY AUTHORIZED REPRESENTATIVE GLD054089 0049-GLD-000054089 policy No. This endorsement, effective RMBE9439790 issued to ENDORSEMENT no 12:01 AM, October 1, 1986 Hanson Industries bY National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of ADDITIONAL INSURED COVERAGE In consideration of the premium charged, it is understood and agreed that Definition A, PERSONS INSURED, is extended to include the following additional Insured, but only to the extent that coverage is provided said additional Insured in the underlying insurance as listed in the Schedule of Underlying Insurance, and further providing that the full limits of liability shown therein are applicable. (Designation of Additional Insured) Hanson Trust PLC Air Hanson Air Hamilton AUTHORIZED REPRESENTATIVE GLD054090 0049-GLD-000054090 ENDORSEMENT #21 This endorsement, effective 12:01 AM- October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburhg, Pa. forms a part of CONTRACTUAL LIABILITY - FOLLOWING FORM In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any claim of liability into by the Named Insured with any other individual, organization, or other entity, unless such liability is covered by valid and collectible underlying insurance as described in the Schedule of underlying Insurance and then only for such hazards for which coverage is afforded under said underlying insurance. By AUTHORIZED REPRESENTATIVE GLD054091 0049-GLD-000054091 This endorsement, effective ENDORSEMENT im 12.01 AM- October 1, 1986 policy No. RMBE943790 issued to Hanson Industries by National Ufiion Fire Insurance Company of Pittsburgh, PA forms a part of It is hereby understood and agreed that the Schedule of Underlying Insurance is amended to read: Aviation Liability H.M. Holdings, Inc. USAIG $200,000,000. ** All other terms and conditions remain unchanged. . H'D S. JAMES & CO. * ` OF NEW ENGLAND. ItJC. AUTHORI2 GLD054092 0049-GLD-000054092  Member Companies of Americaninternational Group COMMERCIAL LIABILITY UMBRELLA POLICY AMERICAN HOME ASSURANCE CO ilYY NATIONAL UNION FIRE INSURANCECOMPANY OF PITTSBURGH,PA. {Executive Office*) 70 Pin* Street, New York, N.Y. 100*35 In consideration of the payment of the premium, and in reliance upon the statements in the Declarations made a part hereof and subject to the limits of liability, exclusions, conditions and other terms of this policy, the,Company agrees with the in* sured named in the Declarations as follows: INSURING AGREEMENTS I. COVERAGE. To pay on behalf of the Insured 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 upon the In sured by law, or liability assumed by tha Insured under contract because of (i) personal injury, (ii) property damage, or <iii) advertising liability, as defined herein caused by an occurrence. II. DEFENSE, SETTLEMENT, SUPPLEMENTARY PAYMENTS. (The provisions of this Insuring Agreement apply solely to occurrences covered under this policy but not covered by any underlying policies listed in the Schedule of Underlying In surance or any other underlying insurance providing coverage to the Insured, whether collectible or not. This Insuring Agree ment 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 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 liability of this policy, 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 the Company's liability thereon; tc) reimburse the Insured for all reasonable expenses incurred at the Company's request, (including actual loss of wages or salary, but not loss of other income, not to exceed $75 per day) because of his attendance at hearings or trials at such request. The Company agrees to pay the amounts incurred under this Insurance Agreement II, except in settlement of claims and suits, in addition to the limit of liability stated in the Declarations, 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 retained limit specified in Item 3(A-2) of the Declarations. Insuring Agreement I and It shall cease to apply after the applicable limits of the Company's liability has been exhausted by payment of judgments or settlements. LIMIT OF LIABILITY - RETAINED LIMIT (A) The Company shall be liable only for that portion of the ultimate net loss excess of the Insured's retained limit de fined 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 amount stated in Item 3(A-2) of the Declarations as the result of any one occurrence not covered by such underlying policies or insurance; and then up to an amount not exceeding the amount as stated in Item 3(A) of the Declarations as the result of any one occurrence. 23022 (4/80) GLD054093 0049-GLD-000054093 (B) In the event of reduction jl -haustion of the aggregate limits of liability ' *r said underlying insurance by reason of losses paid thereunder SI j this policy period, this policy shall, subject ts terms and conditions and the limit of liability stated in Items 3(A`J and 3(8} of the declarations: (1) in the event of reductions, pay excess of the reduced underlying insurance, or (2) in the event of exhaustion of the limits of liability, continue in force as underlying insurance. (C) There is no limit to the number of occurrences during the policy period for which claims may be made, except that the Company's total limit of liability arising out of the Products Hazard or the Completed Operations Hazard or both combined shall not exceed the amount stated in Item 3(B) of the Declarations as respects all occurrences during each annual period commencing with the effective or anniversary date of this policy. x x jcjsrjr i n o;3f 3 : r 3 3:3:3; x. * 3 30 33 3 33:3:. )I 1 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 like wise be limited to the amount stated in Item 3 (8} of the Declarations with respect to all occurrences during each an nua! period while this policy is in force commencing from its effective date. The umbrella policy aggregate limit, so amended, 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 the Company's liability, all personal injury 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, re gardless 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. This policy shall not apply: EXCLUSIONS (A) to any obligation for which the Insured or any carrier as his insurer may be held liable under any Worker's Compensa tion, Occupational Disease, Unemployment Compensation, or Disability Benefits Law, or under any similar law; (B) to any obligation which the Insured may be liable under any "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 Insured's 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 Insured's products or work performed by or on behalf of the Insured after such pro ducts or work have been put to use by any person or Organization other than an Insured. (D) to Property Damage to: (i) the Insured's 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; (iii) property owned by the Insured; (iv) aircraft or watercraft rented to, used by or in the care, custody or control of the Insured; (E) to damages claimed for the withdrawal, inspection, repair, replacement or loss of use of the Insured's products or work completed by or for the Insured or of any property of which such products or work form a part, if such pro duct, work or property are withdrawn from the market or from use by anyone because of any known or suspected de fect or deficiency therein; (F) to Personal Injury or Property Damage arising out of the ownership, maintenance, operation, use, loading or unload ing of: (i> any watercraft, except to the extent that coverage is provided by a policy listed in the Schedule of Underlying insurance; or (ii) any aircraft owned by the Insured or rented to the Insured without a crew. (G) to liability of any employee with respect to Personal Injury to another employee of the same employer injured in the course of such employment unless insurance therefore is provided by a policy listed in the Schedule of Underlying In surance and then not for broader coverage than is afforded to such employee by that policy; (H) under Advertising Liability to claims made against the Insured; (i) for failure of performance of contract; GLD054094 0049-GLD-000054094 (ii) for infringement of triW ark or trade name; I |iii> for incorrect description of any article or commodity; (iv) for mistake in advertised prices; (I) (a) under Coverages 1 (i) and 1 (ii) to injury, sickness, disease, death or destruction: (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 Under writers 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 organi zation is required to maintain financial protection pursuant to the Atomic Energy Act of 1954, or any law amendatory thereof, or (2) the Insured is, or had this policy not been issued would be, entitled to indemnity from the United States of America or any agency thereof, under any agreement entered into by the United States of America or any agency thereof, with any person or organization. (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 injury, sickness, disease, death or destruction 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 dispenses therefrom; (ii) the nuclear material is 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 (iii) the injury, sickness, disease, death, or destruction arises out of the furnishing by an Insured of services, ma terials, 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 pos sessions of Canada, this exclusion (iii) applies only to injury to or destruction of property at such nuclear facility; id) 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 fuel" 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 para graph (i) or (ii) thereof; -- "Nuclear Facility" means: (i) any nuclear reactor, (ii) any equipment or device designed or used for (1) separating the isotopes of 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 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 alt premises used for such operations: -- "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; -- with respect to injury to or destruction of property, the word "injury" or "destruction" includes all forms of radioactive contamination of property; (J) to bodily injury or property damage arising out of the discharge, dispersal, release or escape of smoke, vapors, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or pollutants into or upon land, the atmosphere or any watercourse or body of water; but this exclusion does not apply if such discharge, dispersal, release or escape is sudden and accidental; (K) to any liability of the Insured directly or indirectly occasioned by, happening through or in consequence of war, in vasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrec tion, military or usurped power or confiscation or nationalization or requisition or destruction of or damage to prop erty by or under the order of any government or public or local authority. GZ.D054095 0049-GLD-000054095 POLICY TERRITORY i (A) This policv applies to personal injury, property damage or advertising liability occurring anywhere in the world. 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) (I) the Named Insured stated in Item 1 of the Declarations and any companies that are subsidiaries or owned or controlled by said Named Insured on the inception date of the policy; (2) any additional companies that become subsidiaries or owned or controlled companies of said Named Insured providing notice is given to the Company within thirty (30) days thereof; (b) If the Named Insured is designated in the Declarations as a partnership or joint venture, the partnership or joint venture so designated and any partner or member thereof but only with respect to his liability as such, however, if the Named Insured is a partnership, this policy does not apply to an automobile owned by or registered in the named of a partner thereof. This policy does not apply to Personal Injury, Property Damage or Advertising Lia bility arising out of the conduct of any partnership or joint venture of which the Insured is a partner or member and which is not designated in this policy as a Named Insured. If the Named Insured is designated in the Declara tions as an individual, the person so designated, but only with respect to the conduct of a business of which he is the sole proprietor; (c) any person, organization, trustee or estate to whom or to which the Named 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 Named Insured or to the facilities of or used by the Named 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 air craft, any partner, executive, officer, director, stockholder or employee of the Named Insured, while acting in his capacity as such and any organization or proprietor with respect to real estate management for the Named Insured; (f) any person while using any automobile owned by the Named Insured or any automobile loaned to the Named In sured or hired for use in behalf of the Named Insured and any person legally responsible for the use thereof pro vided the actual use thereof is with the permission of the Named Insured, and any executive officer, director or stockholder of the Named Insured with respect to the use of an automobile or watercraft not owned by the Named Insured in the business of the Named Insured. The insurance with respect to any person or organization other than the Named Insured does not apply under this division (f): (1) to any person or organization, to any agent or employee thereof, operating an automobile sales agency, re pair shop, service station, storage garage or public parking place, with respect to any occurrence arising out of the operation thereof;. (2) with respect to any automobile hired by or loaned to the Named Insured, to the owner or lessee thereof other than the Named 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 liability. (B) 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; (c) libel, slander, defamation of character or invasion of right of privacy unless arising out of Advertising Liability; and (d) assault and battery not committed by or at the direction of the Insured unless committed for the purpose of pre venting or eliminating danger to persons or property; which occurs during the policy period. (C| PROPERTY DAMAGE shall mean (1) physical injury to or destruction of tangible property, which occurs during the policy period, 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 of use is caused fay an occurrence during the policy period. (D) 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. GLD054096 0049-GLD-000054096 committed or alleged to hi ten committed during the policy period in ari Ivertisement, publicity article, broad cast or telecast and arising om of the Married Insured's advertising activities. (E| PRODUCTS HAZARD includes Personal Injury and Property Damage arising out of the I nsured's 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. (F) INSURED'S PRODUCTS means goods or products manufactured, sold, handled or distributed by the Insured or by others trading under his name, including any container thereof (other than a vehicle), but Insured's products shall not include a vending machine or any property other than such container, rented to or located for use of others but not sold. (G) 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 there with. Operations shall be deemed completed at the earliest of the following times: (a) when ail 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 com pleted, (c) when the portion of the work out of which the injury or 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. (H) OCCURRENCE - With respect to Personal Injury and Property Damage, the term "Occurrence" means an event, in cluding continuous or repeated exposure to conditions, which result in Personal Injury or Property Damage during the policy period, neither expected nor 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 con sidered as arising out of one occurrence. (I) ULTIMATE NET LOSS -- Except as provided in Insuring Agreement II, "Defense", the term "Ultimate Net Loss" shall mean the total sum which the Insured, or any company as its insurer, or both become obligated to pay by rea son 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, compen sation, 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 under lying Insurer's permanent employees, The Company shall not be liable for expenses as aforesaid when such are covered by underlying policies of insurance whether collectible or not. CONDITIONS 1. Premium. The premium for this policy is a flat premium and is not subject to adjustment except that additional premiums may be required for any additional insureds as outlined in Definition (A) "Persons insured", as provided in Condition 13 "Cancellation", or if this policy is subject to audit adjustment, the premium may be based upon the rating basis as set forth in the Declarations during the policy period. Upon expiration of this policy or its termination during the policy period, or at the end of each policy year, the earned premium shall be computed as specified herein. If the earned pre miumismore than the advance premium paid, the Insured shall promptly pay the excess to the Company; if less, the Com pany shall retufri to 'the insured the unearned portion, subject to the annual minimum premium stated in the Declarations for each twelve (12) months of the policy period, and subject further to the policy minimum premium as stated in the Declarations. 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 Company's limit of liability as stated in Item 3 of the Declarations shall be reduced by any amounts due 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 Injuries, 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 die same manner as if separate policies had been issued to each Insured herein. Nothing contained herein shall operate to increase the Company's limit of liability as set forth in the Limit of Liability section. GLD054097 0049-GLD-000054097 4. Notice of Occurrence. Whenever - Insured has information from which the Ins; t may reasonably conclude that an Occurrence covered hereunder in jd injuries or damages which, in the event tl tie Insured should be held liable is Ijkely to involve this policy immediate notice shall be sent tp the Company. 5. Inspection and Audit. The Company shall be permitted but not obligated to inspect the Insured's property and operations at any time. Neither the Company's right to make inspections nor the making thereof nor any report thereon shall consti tute 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 Insured's 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 sub ject matter of this insurance. 6. Maintenance of Underlying Insurance. The policy or policies referred to in the attached "Schedule of Underlying In surances", 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 terms 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 wl^rife'Kiiegoing 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 Insuring Agreement II, 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 in sured, but the Company shall have the right and shall be given the opportunity to associate with the Insured or the In sured's 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 appears 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 the event the Insured or the Insured's 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 tax able costs and disbursements and interest incidental thereto, but in no event shall the liability of the Company, for the ultimate net loss, exceed the amount set forth in Item 3(A) of the Declarations 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 in surance 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 ail necessary ad justments 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 Insured's ultimate net loss has been finally ascertained. Inasmuch as this policy is "Excess Coverage", the Insured's right of recovery against any person or other en tity 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 in terests (including die Insured) concerned, in the ratio of their respective recoveries as finally settled. 11. Changes. Notice to or knowledge possessed by any 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 Insured's legal representative as Insured; provided that notice of cancellation addressed to the Insured named in the Declarations and mailed to the address shown in this policy shall be sufficient notice to effect cancellation of this policy. 13. Cancellation. This policy may be 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 authorized agents, written notice stating when thereafter such cancella tion shall be effective. The policy may be cancelled by the Company by mailing to the Insured at the address shown in Item 1 of the Declarations, written notice stating when, not less than thirty (30) 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 shail 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 policy period. Delivery 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 can cellation, the earned premium shall in no case be less than the annual minimum premium stated in the Declarations, sub ject to the policy minimum premium also stated in the Declarations. 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 or 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 GLD054098 0049-GLD-000054098 14. Bankruptcy and Insolvency. In thr. event of the bankruptcy or insolvency of the *-jred or any entity comprising the In sured, the Company shall not 'tved thereby of the payment of any claims h * 'nder because of such bankruptcy or insolvency. 15. First Named Insured. The first Named Insured in Item 1 of the Declarations, shall be responsible for payment of all pre miums, 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. IN WITNESS WHEREOF, the Company has caused this policy to be executed and attested, but this policy shall not be valid unless countersigned by a duly authorized representative of the Company. M. Morrison fmldnl American Home Assurance Co. PrMldant National Union Plr* Insurance Company of Pittsburg Pa. GLD054099 0049-G LD-000054099 V 5 mmi !MSM imum PROStAt * 9 /J-.fur-M PROS TO (COO'S) (000`S) CARRIER 0 500 AiemmOREB 500 2,600 Aie 2,590 10,000 fl-n. ^iU^iE^tOOO .r- -r f. *(H~-*,t' 20,000 25,000 10,000 AWkEmmo 15.000 ST PAH 20.000 flSTEmmSAL 25.000 tyom RlYZRr 100,000 AS. LIKE SLIP COYERASE TOTAL PREMIUM RtlKSORCD IkSCV?C0 LIMITS LIMITS (000'S) (000`S) RATE mSRED PER PREMISS 11,090,000 PRlSARr BCmAXCE S OCCtlRRMCE 1,500,000 500 * 2,000 1,500,600 OmELLA OCCORASCE 1,500,000 8 OCCORASCE 1,036,000 t 8CCBRAKCE 700.000 S OCCORASCE 245.000 8 OCCORASCE 105,000 8 SOO CLAIM MADE 1,280,000 ** * f/ooo 7ym 5,000 1,036,600 5,000 700.000 3rf,n500r 245^00 105.000 75,000 1,200,000 200,000 207,200 140,000 70,000 70,000 17,067 TOTAL 100,000 UMBRELLA 97,506 6,366,000 4,366,000 9,000 7,500 92,000 4,866,000 90,000 3,366,000 UlOTEO ALTERSATim FROM TO mrs) 1000`S) CARRIER ` COmABE TOTAL ~ ESTIMATED PREM1BM RErnmO muRiui ESTIMATES RATE LIMITS LIMITS mtlREB PER (000`S) (000`S) PREMIUM 01,000,000 8,000 10,000 20,000 25,000 100,000 10,000 saw AS SURPLUS 10,000 KARTFORB 25,000 AIU 100,000 XL LTD 100,000 ACE LTD OCCORASCE 300,000 OCC-SO AOB COY 1,050,000 CLAIXS RACE 325,909 SOS CLAIM MAKE 1,290,909 I SOS CLA1S RASE 550,000 1 J h o t e: mo s t c by er abe m l is it e s o r no po u bt io m comm 2,000 10,000 5,000 75,000 100,000 800,000 1,650,000 325,000 1,290,000 550,600 400,000 165,000 65,600 17,200 5,500 * es t imat ed mmxiE ms to,500,000 t o tto,ooo,ooo m. LIME SUP DISCOVERY CLAUSE COST (351} 00 i man ex c ept : as l ik e s u p m c o mpl et e XL LTO 771 COMPLETE t US,009 I IK mum ms MOST PAY 1 YEAR'S PREMIUM MUCH IS RETORRAOLE 1012X0 YR; 2si ir d nt} 'm m Yi;'m mr*. LAST YEAR'S UMBRELLA PREMIUM FOR CDHTWlllB OP'S 5,140,052 . PRES l ISC. SAM LIMIT IRC. SCX UXIT ISC. 0J5 OJB 1.73 GLD054100 0049-GLD-000054100 r National Union Fire Insurance Co. Policy #BE 943 9790 8 mm of 98 mm (1st layer) 0049-GLD-000054101 DECLARATIONS UMBRELLA LIABILITY POLICY NO. BE 943 9790 AM Member Companies of American Internationa! Group AMERICAN HOME ASSURANCE COMPANY ITEM 1. Name of Insured Address Hanson Industries, Etal (see Endorsement #1) 410 Park Avenue New York, NY 10022 1 IE NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH. PA. 70 Pine Street, New York, N.Y. 10270 (Executive Offices) (Street. Town State) [__ J This Declaration page, with policy provisions and endorsements, if any. issued to form a part thereof, completes die above numbered Umbrella Liability Policy. ITEM 2. Policy Period From: October 1, 1986 To: (12:01) A.M. Standard Time at the address of the insured stated above) October 1, 1987 The limit of the Company's liability shall be as stated herein subject to all the terms of this policy having reference thereto (At ft 8,000,000 Single Limit any one occurrence Personal Injury or Property Damage or Advertising Liability or any combination thereof. ITEM 3. Limit of Liability (B) ft 8,000,000 in excess of (1) the amount recoverable under the underlying insurance as set out in the attached Schedule A. or (2j ft 10,000ultimate net loss in respect of each occurrence not covered by said underlying insurance. in the aggregate for the policy period or each annual period in accordance with the "Limit of Liability--Retained Limit" Section of thB policy. ITEM 4. Premium Computation Rating Basis Flat Deposit Premium $ 1,500,000 Estimated Exposure -------------------- Rate Fiat Minimum Premium $ 1,000,000 Estimated Premium Audit Period. Producer: (Name and Address) r Peter Bove Fred S. James & Co. Inc. 40 Broad. Street. JAMES & CO. L_ Boston, MA oiCSMSENGLaND, me. ~1 J Date of Issue 12/4/86_____ Policy Text Form No. 23022 (5/77) 23020 {5/77) Countersigned by. IBNtHflt&flffBBS Crder By 30440 [12/BO) GLD054102 0049-GLD-000054102 ENfidftSEMENf policy No. This endorsement, effective issued to 12:01 AM. October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. SCHEDULE OF UNDERLYING INSUBANCE Type of Policy or Coverage Insurer Limits formsapartof Bodily Injury Liability $ each person $ each occurrence $ aggregate Comprehensive General Liability including Products National Union Fire Insurance of Pittsburgh, PA Property Damage Liability $ each occurrence $ aggregate Combined Single Limit $2,000,000 Bodily Injury Liability - $ each person $ each occurrence Automobile Liability National Union Fire Company of Pitts,PA Property Damage Liability $ each occurence Combined Single Limit $2,000,000 *... INC. AUTHOR! ^EJ0jaEf>B6SENT*TlVE GLD054103 0049-GLD-000054103 /C ENDORSEMENT policy Mo. This endorsement, effective 12:01 AM. October 1, 1986 issued to Hanson Industry by National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of Standard Workmen's Compensation and Employers Liability National Union Fire Insurance Company of Pittsburgh, PA Coverage B employers Liability $100,000 each accident Miscellaneous Liability Comprehensive General Liability including Products (Canada) American Home Assurance Company Automobile Liability (Texas) National Union Fire Insurance Company of Pittsburgh, PA Automobile Liability (Canada) American Home Assurance Company Standard Workmen's Compensation and Employers Liability (California) National Union Fire Insurance Company of Pittsburgh, PA Standard Workmen's Compensaton and Employers Liability (AZ, CO, ID, MD) Birmingham Fire Insurance Company of Pennsylvania Advertisers Liability Seaboard Surety Aviation Liability 1. Hanson Industries USAIG Combined Single Limit $2,000,000 Combined Single Limit $2,000,000 Combined Single Limit $2,000,000 Coverage B Employers Liability $ Unlimited each accident Coverage B Employers Liability $100,000 each accident Combined Single Limit $1,000,000 $100,000,000 AUTHORIZ|Drl?TO5(^J^nVE GLD054104 0049-G LD-000054104 ENDORSEMENT policy No. This endorsement, effective issued to 12:01 AM. October 1, 1986 Hanson Industries bv National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of Employees Compensation American International (Hong Kong) Underwriters, LTD Private Automobile Liability (Hong Kong) QBE Insurance-H K Ltd Third Party Bodily Injury HK $ Unlimited Third Party Property Damage HK $2,000,000 General Liability (Unifast/Belgium) Assubel Bodily injury-BF 100,000,000 Property Damage-BF 5,000,000 Product Liability (Unifast/Belgium) Assubel Combined Single Limit BF 50,000,000 $iq~ature Authorized AUTHORIZED REPRESENTATIVE GLD054105 0049-GLD-000054105 This endorsement, effective policy No. RMBE9439790 issued to ENDORSEMENT #1 12.01 AM. October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of In consideration of the premium charged, it is understood and agreed that the Named Insured is amended to include: Hanson Industries and any other owned, controlled, affiliated or subsidiary (including a subsidiary thereof) company or any other organization in which the Insured acquires active management or financial control. All other terms and conditions remain unchanged. ,;;D S. JAMES & CO. * OF NEW ENGLAND, INC. 4 BY AUTHOR I AT1VE GLD054106 0049-GLD-000054106 This endorsement, effective policy No. RMBE9439790 issued to ENDORSEMENT #2 12.01 AM. October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of ERISA EXCLUSION In consideration of the premium paid, and not withstanding anything contained in this policy to the contrary, it is agreed that coverage afforded under this policy shall not apply as respects liability imposed upon an insured (or which is imputed to an insured) under the "Employee Retirement Incoma Security Act of 1974" Public Law 93-406 and any law amendatory thereof. All other terms and conditions remain unchanged. AUTHORIZED REPRESENTATIVE GLD054107 0049-GLD-000054107 r This endorsement, effective ENDORSEMENT n 12:01 AM. October 1, 1986 policy No. EMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of PERSONAL PROPERTY CCC EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to property damage to: 1. Personal property leased to the Insured; 2. Personal property used by the Insured; 3. Personal property in the care, custody or control of the Insured or as to which the Insured is for any purpose exercising physical control. All other terms and conditions remain unchanged AUTHORIZED REPRESENTATIVE GLD054108 0049-GLD-000054108 r. ENDORSEMENT #4 This endorsement, effective 12:01 AM. October 1, 1986 policy No. RMBE9439790 issued to Hanson Indvistries by National Union Fire Insurance of Pittsburgh, PA forms a part of REAL PROPERTY EXCLUSION In consideration of the premium paid, and 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 Property Damage to: (1) Real Property occupied by or leased to the Insured; (2) Real Property used by the Insured; (3) Real Property in the cars, custody or control of tile Insured or as to which the Insured is for any purpose exercising physical control. All other terms and conditions remain unchanged. ..w Ij S. JAMES & CO. Of NEW ENGLAND, INC. GLD054109 0049-GLD-000054109 t policy No. This endorsement, effective RMBE9439790 issued to In d o r s e me n t #5 12:01 AM- October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of DIRECTORS AND OFFICERS LIABILITY EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any director and/or officer of the Named Insured by reason of any wrongful act conmitted in their capacity as a director and /or officer of the Named Insured. It is further agreed that the tern "wrongful act" shall be defined a3, but not limited to, any breach of duty, neglect, error, misstatement, misleading statement, emission or other act actually done or wrongfully attempted by any director and/or officer claimed against them solely be reason of their capacity as such. All other terms and conditions of the policy remain unchanged. ..ID S. JAMES SCO. Or NEW ENGLAND, INC. GLD054110 0049-GLD-000054110 This endorsement, effective ENDORSEMENT m 12:01 AM. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of PUNITIVE DAMAGES EXCLUSION La consideration of the premium charged it is agreed that coverage afforded by this policy shall not apply to any fines, penalties, punitive or exemplary damages. All other terms and conditions remain unchanged. AUTHORIZED REPRESENTATIVE GLD054111 0049-GLD-000054111 r. policy No. This endorsement, effective ENDORSEMENT #7 12:01 AM. October 1, 1986 RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of ASBESTOS EXCLUSION ENDORSEMENT In consideration of the premium paid, and withstanding anything contained in this policy to the contrary, it is agreed that insurance as is afforded by National Union Fire Insurance Company of Pittsburgh, PA., Policy NoRMGLA1979080 for PERSONAL INJURY liability and PROPERTY DAMAGE liability is subject to the following exclusion: This insurance does not apply to any liability for property damage, personal injury, sickness, disease, occupational disease, disability, shock, death, mental anguish, and mental injury at any time arising out of the manufacture of, mining of, use of, sales of, installation of, distribution of, or exposure to asbestos products, asbestos fibers or asbestos dust, or to any obligation of the Insured to indemnify any party because of damages arising out of such property damage, bodily injury, sickness, disease, occupational disease, disability, shock, death, mental anguish or mental injury at any time as a result of the manufacture of, mining of, use of, sales of, installation of, distribution of, or exposure to asbestos products, asbestos fibers or asbestos dust. It is further understood and agreed that the National Union Fire Insurance Company of Pittsburgh, Pa., not obligated to defend any suit or claim against the Insured alleging personal injury or property damage and seeking damages, if such suit or claim arises from bodily injury or property damage resulting from or contributed to, by any and all manufacture of, mining of, use of, sales of, installation of, distribution of, or exposure to, asbestos products, asbestos fibers or asbestos dust. GLD054112 0049-G LD-000054112 / policy No. This endorsement, effective RMBE9439790 issued to ENDORSEMENT m 12:01 AM. October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of EMPLOYEE BENEFITS EXCLUSION In consideration of the premium charged it is agreed that this policy shall not apply to any claim or claims arising out of employee benefits liability. All other terms and conditions remain unchanged. - j. j>'.Mc3 Sc 00. GLD054113 0049-GLD-000054113 This endorsement, effective ENDORSEMENT #9 12:01 MA. October 1, 1986 policy No. EMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms a part of POLYCHLORINAIED BIPHENYLS EXCLUSION In consideration of the premium paid, and withstanding anything contained in this policy to the contrary, it is agreed that insurance as is afforded by National Onion Fire Insurance Company of Pittsburgh, PA., Policy No. EMGLA197908Q for Personal Injury and Property Damage liability is subject to the following exclusion. This insurance does not apply to any liability for property deimage, personal injury, sickness, disease, occupational disease, disability, shock, death, mental anguish and mental injury at any time arising out of the manufacture of, use of, sales of, distribution of, or exposure to Polychlorinated Biphenyls or to any obligation of the Insured to indemnify any party because of damages arising out of such property damage, bodily injury, sickness, disease, occupational disease, disability, shock, death, mental anguish or mental injury at any time as a result of the manufacture of, use of, sales of, distribution of, or exposure to Polychlorinated Biphenyls. It is further understood and agreed that the National Union Fire Insurance Company of Pittsburgh, PA., not obligated to defend any suit or claim against the Insured alleging personal injury or property damage and seeking damages, if such suit or claim arises from bodily injury or property damage resulting from or contributed to, by any and all manufacture of, use of, sales of, distribution of, or exposure to. Polychlorinated Bipnenyls. All other terms and conditions remain unchanged. GLD054114 0049-GLD-000054114 This endorsement, effective ENDORSEMENT #10 12:01 A M. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa foitns a part of POLLUTION EXCLUSION It is understood and agreed that the coverage as afforded by this policy does NOT apply to: (1) "Bodily injury" or "property damage" arising out of the actual, alleged or threatened discharge, dispersal, release or escape of pollutants: (a) at or from premises you own, rent or occupy; (b) at or from any site or location used by or for you or others for the handling, storage, disposal, processing or treatment of waste material; (c) which are at ary time transported, handled, stored, treated, disposed of, or processed as waste by or for you or any person or organization for whom you may be legally responsible; or (d) at or from any site or location on which you or any contractors or subcontractors working directly or indirectly on your 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 you. (2) Any loss, cost or expense arising out of any governmental direction or request that you test for, monitor, clean 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,fco bp(Or>have been recycled, reconditioned or reclaimed. - Or NEW ENGL'-.O, AUTHOR IZED R6PflffeJ=WfAriV E~ GLD054115 0049-GLD-000054115 policy No. This endorsement, effective RMBE9439790 issued to e n d o r s e me n t #11 12:01 AM. October 1, 1986 flanson Industries bv National Onion Fire Insurance Company of Pittsburgh, Pa forms a part of WORKERS COMPENSATION AND EMPLOYERS LIABILITY EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any claim or claims, direct or consequential, arising from Workers Compensation, Employers Liability or Occupational Disease Liability. All other terms and conditions remain unchanged. AUTHORIZED REPRESENTATIVE GLD054116 0049-GLD-000054116 ENDORSEMENT #12 This endorsement, effective 12:01 M. October 1, 1986 policy No. EMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa fomwapartof In consideration of the premium paid, it is understood and agreed that the following entities are not covered by this policy: Interstate United Dual-Lite GLD054117 0049-GLD-000054117 This endorsement, effective ENDORSEMENT #13 12:01 AM. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries bv National Union Fire Insurance Company of Pittsburgh, Pa forms a part of FIDUCIARY LIABILITY EXCLUSION It is understood and agreed that coverage afforded by this policy shall not apply to any liability arising out of any act, error, mistake or omission of any Insured or any Agent or Sub-Agent of any Insured while acting in a fiduciary capacity. All other terms and conditions remain unchanged. igr.dlure Authorized AUTHORIZED REPRESENTATIVE GLD054118 0049-GLD-000054118 ENDORSEMENT #14 This endorsement, effective 12:01 AM. October 1, 1986 policy No. EMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa forms a part of LAWYERS' PROFESSIONAL LIABILITY EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any liability for personal injury because, of any act or omission_of the Insured,, or any_other person for whose acts or omissions the Insured is legally responsible, and arising out of the performance of professional services for others and the assured's capacity as a lawyer. All other terms and conditions remain unchanged. GLD054119 0049-G LD-000054T19 policy No. This endorsement, effective EMBE9439790 issued to e n d o r s e me n t #15 12:01 AM. October 1, 1986 Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of ACCOUNTANT'S PROFESSIONAL LIABILITY EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to liability arising out of the rendering of, or the failure to render, professional services for others in the Insured's capacity as an accountant or as an employee of an accounting firm. GLD054120 0049-GLD-000054120 ENDORSEMENT #16 This endorsement, effective 12:01 A M- October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Onion Fire Insurance Company of Pittsburgh, Pa. forms a part of PROFESSIONAL LIABILITY EXCLUSION ENDORSEMENT In consideration of the premium charged, it is agreed that the coverage afforded by this policy shall not apply to any act, error, omission, malpractice of mistake of a professional nature comitted by or alleged to have been committed by the Insured or any person for whom the Insured is legally responsible and arising out of the Insured's activities as: Real Estate E and 0 Risk/Insurance Managers E and 0 Tax Consultants E and 0 jtiSr.Ature Authorised AUTHORIZED REPRESENTATIVE GIiDO 54121 0049-GLD-000054121 ENDORSEMENT #17 This endorsement, effective 12:01 AM. October 1, 1986 policy No. RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa forms a part of "IRIS" EXCLUSION In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to Personal Injury due to the contact with or use of a chemical known as (2,3, dibromopropyl phosphate) or "`IRIS" or any derivative thereof. All other terms and conditions remain unchanged. GLD054122 0049-GLD-000054122 policy No. ENDORSEMENT m This endorsement, effective 12:01 AM. October 1, 1986 RMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, Pa. forms a part of It is hereby understood and agreed that exclusion "Fii" is amended as follows: Any aircraft owned by the Insured or rented to the Insured without a crew, except to the extent that coverage is provided by a policy listed in the Schedule of Underlying Insurance and then only for such hazards for which coverage is afforded under said Underlying Insurance. All other terms and conditions rerain unchanged. AUTHORIZED REPRESENTATIVE GLD054123 0049-G L D-000054123 policy No. This endorsement, effective ENDORSEMENT m 12:01 A M. October 1, 1986 EMBE9439790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh* Pa. forms a part of It is hereby understood and agreed that the Cancellation Provision is amended to read 60 days except for Non Payment of Premium which will remain a 10 daynotice of Cancellation. All other terms and conditions remain the same. . iiwL* S. '.S `x OF NEW ENGLAND, 'iriC. AUTHORIZED REPRESENTATIVE GLD054124 0049-G LD-000054124 policy No. This endorsement, effective BMBE9439790 issued to ENDORSEMENT #20 12:01 AM. October 1, 1986 Hanson industries by National Onion Fire Insurance Company of Pittsburgh, Pa. forms a part of ADDITIONAL INSURED COVERAGE In consideration of the premium charged, it is understood and agreed that Definition A, PERSONS INSURED, is extended to include the following additional Insured, but only to the extent that coverage is provided said additional Insured in the underlying insurance as listed in the Schedule of Underlying Insurance, and further providing that the full Limits of liability shown therein are applicable. (Designation of Additional Insured) Hanson Trust PIC Air Hanson Air Hamilton -1 ^ / ` V'jre Authorized AUTHORIZED REPRESENTATIVE GLD054125 0049-GLD-000054125 ENDORSEMENT #21 This endorsement, effective 12:01 AM- October 1, 1986 policy No. EMBE9439790 issued to Hanson Industries by National Onion Fire Insurance Company of Pittsburhg, Pa. forms a part of CONTRACTUAL LIABILITY - FOLLOWING FORM In consideration of the premium charged, it is agreed that coverage afforded by this policy shall not apply to any claim of liability into by the Named Insured with any other individual, organization, or other entity, unless such liability is covered by valid and collectible underlying insurance as described in the Schedule of underlying Insurance and then only for such hazards for which coverage is afforded under said underlying insurance. GLD054126 0049-GLD-000054126 This endorsement, effective ENDORSEMENT ( #22 12.01 A^*. October 1, 1986 policy No. RMBE943790 issued to Hanson Industries by National Union Fire Insurance Company of Pittsburgh, PA forms It is hereby understood and agreed that the Schedule of Underlying Insurance is amended to read: Aviation Liability H.M. Holdings, Inc. USAIG $200,000,000. All other terms and conditions remain unchanged. D S. JAMES & CO. OF HEW ENGLAND. IKC. AUTHOR IZfe6rl*KESENTATIVE 0049-GLD-000054127 m*? r. Member Companies of American International Group COMMERCIAL LIABILITY UMBRELLA POLICY AMERICAN HOME ASSURANCE <'-Q|NY O NATIONAL UNION FIRE INSUR#*.vUE COMPANY OF PITTSBURGH, PA. (Executive Office*) 70 Pin* Str0t, Now York. N.Y. 10005 < In consideration of the payment of the premium, and in reliance upon the statements in the Declarations made a part hereof and subject to the limits of liability, exclusions, conditions and other terms of this policy, the', Company agrees with the in sured named in die Declarations as follows: INSURING AGREEMENTS I. COVERAGE. To pay on behalf of the Insured 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 upon the In sured by law, or liability assumed by the Insured under contract because of (i) personal injury, (ii) property damage, or (iii) advertising liability, as defined herein caused by an occurrence. II. DEFENSE, SETTLEMENT, SUPPLEMENTARY PAYMENTS. IThe provisions of this Insuring Agreement apply solely to occurrences covered under this policy but not covered by any underlying policies listed in the Schedule of Underlying In surance or any other underlying insurance providing coverage to the Insured, whether collectible or not. This Insuring Agree ment 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 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 liability of this policy, 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 the Company's liability thereon; (c) reimburse the Insured for all reasonable expenses incurred at the Company's request, (including actual loss of wages or salary, but not loss of other income, not to exceed $78 per day) because of his attendancelit'h'Sarings or trials at such request. The Company agrees to pay the amounts incurred under this Insurance Agreement II, except in settlement of claims and suits, in addition to the limit of liability stated in the Declarations, 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 retained limit specified in Item 3(A-2) of the Declarations. Insuring Agreement I and II shall cease to apply after the applicable limits of the Company's liability has been exhausted by payment of judgments or settlements. LIMIT OF LIABILITY - RETAINED LIMIT (A) The Company shall be liable only for that portion of the ultimate net loss excess of the Insured's retained limit de fined as either: (1) the total of the applicable limits of die 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 amount stated in Item 3{A-2) of the Declarations as the result of any one occurrence not covered by such underlying policies or insurance; and then up to an amount not exceeding the amount as stated in Item 3(A) of the Declarations as the result of any one occurrence. 23022 <4/80) Ws GLD054128 0049-G LD-000054128 (B) In the event of reductiond(Bxhaustion of the aggregate limits of liability Mpr said underlying insurance by reason of losses paid thereunde Wng this policy period, this policy shall, sub* TO its terms and conditions and the limit of liability stated in ltemviA) and 3(8) of the Declarations: {1) in the event of reductions, pay excess of the reduced underlying insurance, or (2} in the event of exhaustion of the limits of liability, continue In force as underlying insurance. (C| There is no limit to the number of occurrences during the policy period for which claims may be made, except that the Company's total limit of liability arising out of the Products Hazard or the Completed Operations Hazard or both combined shall not exceed the amount stated in Item13(B) of the Declarations as respects all occurrences during each annual period commencing with the effective or a.hnlt^riary^ in those cases where the underlying insurance listed in the Schedule of Underlying Insurance Policies contains cover age^), which are subject to an Aggregate Limit of Liability for all insured damages, the Company's liability shall like wise be limited to the amount stated in item 3 (B) of the Declarations with respect to all occurrences during each an nual period while this policy is in force commencing from its effective date. The umbrella policy aggregate limit, so amended, 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 the Company's liability, all personal injury 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, re gardless 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. This policy shall not apply: EXCLUSIONS (A) to any obligation for whichTheTniured or any carrier asTtirinsurer may be heldTiable anderariyWorker's Compensa tion, Occupational Disease, Unemployment Compensation, or Disability Benefits Law, or under any similar law; (B) to any obligation which the Insured may be liable under any "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 I nsured of any contract or agreement, or (ii) the failure of the Insured's 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 Insured's products or work performed by or on behalf of the Insured after such pro ducts or work have been put to use by any person or organization other than an Insured. (D) to Property Damage to: (i) the Insured's 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; (iii) property owned by the Insured; (iv) aircraft or watercraft rented to, used by or in the care, custody or control of the Insured; (E| to damages claimed for the withdrawal, inspection, repair, replacement or loss of use of the Insured's products or work completed by or for the Insured or of any property of which such products or work form a part, if such pro duct, work or property are withdrawn from the market or from use by anyone because of any known or suspected de fect or deficiency therein; (F) to Personal Injury or Property Damage arising out of the ownership, maintenance, operation, use, loading or unload ing of: (i) any watercraft, except to the extent that coverage is provided by a policy listed in the Schedule of Underlying Insurance; or (ii) any aircraft owned by the Insured or rented to the Insured without a crew. (G) to liability of any employee with respect to Personal Injury to another employee of the same employer injured in the course of such employment unless insurance therefore is provided by a policy listed in the Schedule of Underlying In surance and then not for broader coverage than is afforded to such employee by that policy; (H) under Advertising Liability to claims made against the Insured; (i) for failure of performance of contract; GLD054129 0049-GLD-000054T29 (ii) for infringement of trk _.iark or trade name; (ii) for incorrect description of any article or commodity; (iv) for mistake in advertised prices; (I) (a) under Coverages 1 (i) and t (ii) to injury, sickness, disease, death or destruction; (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 Under writers 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 (!) any person or organi zation is required to maintain financial protection pursuant to the Atomic Energy Act of 1954, dr 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 injury, sickness, disease, death or destruction 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 dispenses therefrom; (ii) the nuclear material is 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 (iii) the injury, sickness, disease, death, or destruction arises out of the furnishing by an Insured of services, ma terials, 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 pos sessions of Canada, this exclusion (iii) applies only to injury 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 fuel" 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 para graph (i) or (ii) thereof: -- "Nuclear Facility" means: (i) any nuclear reactor, (ii) any equipment or device designed or used for (1) separating the isotopes of uranium or plutonium, (2) processing or utilizing spent fuel, or (31 handling, processing or packaging wastes, (iii) any equipment or device used for the processing, fabricating or alloying of 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: -- "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: -- with respect to injury to or destruction of property, the word "injury" or "destruction" includes all forms of radioactive contamination of property; U) to bodily injury or property damage arising out of the discharge, dispersal, release or escape of smoke, vapors, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or pollutants into or upon land, the atmosphere or any watercourse or body of water; but this exclusion does not apply if such discharge, dispersal, release or escape is sudden and accidental; (K) to any liability of the Insured directly or indirectly occasioned by, happening through or in consequence of war. in vasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrec tion, military or usurped power or confiscation or nationalization or requisition or destruction of or damage toproperty by or under the order of any government or public or local authority. GLD054130 0049-GLD-000054130 x: POLICY TERRITORY (A) This policy applies to personal injury, property damage or advertising liability occurring anywhere in the world. 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 Named Insured stated in Item 1 of the Declarations and any companies that are subsidiaries or owned or controlled by said Named Insured on the inception date of the policy; (2) any additional companies that become subsidiaries or owned or controlled companies of said Named Insured providing notice is given to the Company within thirty (30) days thereof; (b) If the Named Insured is designated in the Declarations as a partnership or joint venture, the partnership or joint venture so designated and any partner or member thereof but only with respect to his liability as such, however, if the Named Insured is a partnership, this policy does not apply to an automobile owned by or registered in the named of a partner thereof. This policy does not apply to Personal Injury, Property Damage or Advertising Lia bility arising out of the conduct of- any partnership or joint venture of which the Insured is a partner or member and which is not designated in this policy as a Named Ihsured. If the Named Insured is designated in the Declara tions as an individual, the person so designated, but only with respect to the conduct of a business of which he is the sole proprietor; (c) any person, organization, trustee or estate to whom or to which the Named 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 Named Insured or to the facilities of or used by the Named 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 air craft, any partner, executive, officer, director, stockholder or employee of the Named Insured, while acting in his capacity as such and any organization or proprietor with respect to real estate management for the Named Insured; (f) any person while using any automobile owned by the Named Insured or any automobile loaned to the Named In sured or hired for use in behalf of the Named Insured and any person legally responsible for the use thereof pro vided the actual use thereof is with the permission of the Named Insured, and any executive officer, director or stockholder of the Named Insured with respect to the use of an automobile or watercraft not owned by the Named Insured in the business of the Named Insured. The insurance with respect to any person or organization other than the Named Insured does not apply under this division (f); (1) to any person or organization, to any agent or employee thereof, operating an automobile sales agency, re pair shop, service station, storage garage or public parking place, with respect to any occurrence arising out of the operation thereof;, (2) with respect to any automobile hired by or loaned to the Named Insured, to the owner or lessee thereof other than the Named 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 liability. (8) 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; (c) libel, slander, defamation of character or invasion of right of privacy unless arising out of Advertising Liability; and (d) assault and battery not committed by or at the direction of the Insured unless committed for the purpose of pre venting or eliminating danger to persons or property; which occurs during the policy period. (C) PROPERTY DAMAGE shall mean (1) physical injury to or destruction of tangible property, which occurs during the policy period, including loss of use thereof at any time resulting therefrom; or (21 loss of use of tangible property, which has not been physically injured or destroyed provided such loss of use is caused by an occurrence during the policy period. (D) 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. GLD054131 0049-GLD-000054131 committed or alleged to h\. . ueen committed during the policy period in an, .dvertisement, publicity article, broad cast or telecast and arising out of the Named Insured's advertising activities. (E) PRODUCTS HAZARD includes Personal Injury and Property Damage arising out of the Insured's 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. (F) INSURED'S PRODUCTS means goods or products manufactured, sold, handled or distributed by the Insured or by others trading under his name, including any container thereof (other than a vehicle), but Insured's products shall not include a vending machine or any property other than such container, rented to or located for use of others but not sold. (G) 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 there with. Operations shall be deemed completed at the earliest of the following times: {at 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 com pleted, <c) when the portion of the work out of which the injury or 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: ID 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. (Hi OCCURRENCE - With respect to Personal Injury and Property Damage, the term "Occurrence" means an event, in cluding continuous or repeated exposure to conditions, which result in Personal Injury or Property Damage during the policy period, neither expected nor 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 con sidered as arising out of one occurrence. (I) ULTIMATE NET LOSS -- Except as provided in Insuring Agreement II, "Defense", the term "Ultimate Net Loss" shall mean the total sum which the Insured, or any company as its insurer, or both become obligated to pay by rea son 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, compen sation, 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 under lying I nsurer's permanent employees. The Company shall not be liable for expenses as aforesaid when such are covered by underlying policies of insurance whether collectible or not. CONDITIONS 1. Premium. The premium for this policy is a flat premium and is not subject to adjustment except that additional premiums may be required for any additional insureds as outlined in Definition (A) "Persons Insured", as provided in Condition 13 "Cancellation", or if this policy is subject to audit adjustment, the premium may be based upon the rating basis as set forth in the Declarations during the policy period. Upon expiration of this policy or its termination during the policy period, or at the end of each policy year, the earned premium shall ba computed as specified herein. If the earned pre mium is more than the advance premium paid, the Insured shall promptly pay the excess to the Company; if less, the Com pany shall return to the Insured the unearned portion, subject to the annual minimum premium stated in the Declarations for each twelve (12) months of the policy period, and subject further to the policy minimum premium as stated in the Declarations. 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 Company's limit of liability as stated in Item 3 of the Declarations shall be reduced by any amounts due 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 Injuries, 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 Company's limit of liability as set forth in the Limit of Liability section. GLD054132 0049-GLD-000054132 4. Notice of Occurrence. Whenever ^ Insured has information from which the ln$-'-T~ may reasonably conclude that an Occurrence covered hereunder ini ed injuries or damages which, in the event th_, .10 Insured should be held liable is likely to involve this policy immediate notice shall be sent to the Company. 5. Inspection and Audit. The Company shall be permitted but not obligated to inspect the Insured's property and operations at any time. Neither the Company's right to make inspections nor the making thereof nor any report thereon shall consti tute 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 I nsured's 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 sub ject matter of this insurance. 6. Maintenance of Underlying Insurance. The policy or policies referred to in the attached "Schedule of Underlying In surances", 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 terms 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 Insuring Agreement II, 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 In sured, but the Company shall have the right and shall be given the opportunity to associate with the Insured or the In sured's 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 appears 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 the event the Insured or the Insured's 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 tax able costs and disbursements and interest incidental thereto, but in no event shall the liability of the Company, for the ultimate net loss, exceed the amount set forth in Item 3(A) of the Declarations 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 in surance 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. Alt 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 ad justments 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 Insured's ultimate net loss has been finally ascertained. Inasmuch as this policy is "Excess Coverage", the Insured's right of recovery against any person or other en tity 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 in terests (including the Insured) concerned, in the ratio of their respective recoveries as finally settled. 11. Changes. Notice to or knowledge possessed by any 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 Insured's legal representative as Insured; provided that notice of cancellation addressed to the Insured named in the Declarations and mailed to the address shown in this policy shall be sufficient notice to effect cancellation of this policy. 13. Cancellation. This policy may be 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 authorized agents, written notice stating when thereafter such cancella tion shall be effective. The policy may be cancelled by the Company by mailing to the Insured at the address shown in Item 1 of the Declarations, written notice statingwhen, not less than thirty (30) 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 policy period. Delivery 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 can cellation, the earned premium shall in no case be less than the annual minimum premium stated in the Declarations, sub ject to the policy minimum premium also stated in the Declarations. 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 or 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. GIiD054133 0049-GLD-000054133 14. Bankruptcy and Insolvency. In tisp-eyent of the bankruptcy or insolvency of the/""-tired or any entity comprising the In sured, the Company shall not bf 'ved thereby of the payment of any claims It . tder because of such bankruptcy or insolvency. 15. First Named Insured. The first Named Insured in Item 1 of the Declarations, shall be responsible for payment of all pre miums, 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. IN WITNESS WHEREOF, the Company has caused this policy to be executed and attested, but this policy shall not be valid unless countersigned by a duly authorized representative of the Company. M. Morrison President American Home Assurance Co. ------ J1 DealessenCro President National Union Fire Insurance Company of Pittsburg Pa. GLD054134 0049-G LD-000054134