ACCO ENGINEERED SYSTEMS, INC. (2)

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CE 65 24 06 97 EXCESS LIABILITY COVERAGE FORM There are provisions in this policy that restrict coverage. Read the entire policy carefully to determine rights, duties and what is and is not covered. Throughout this policy the words "you" and "your" refer to the Named Insured. The words "we," "us" and "our" refer to the Company providing this insurance. The word Insured means any person or organization qualifying as such in the "first underlying insurance." Other words and phrases that appear in quotation marks have special meaning and can be found in the DEFINITIONS Section or the specific policy provision where they appear. Lot In consideration of the payment of the premium and in reliance upon the statements in the Declarations we agree with you to provide the coverage as follows: INSURING AGREEMENTS I. COVERAGE of the Declarations is the most we will pay for all "loss" that is subject to an We will pay on behalf of the Insured the aggregate limit provided by the "first amount of "loss" covered by this insurance in underlying insurance." The aggregate excess of the "Underlying Limits of Insurance" limit applies separately and in the shown in Item 5. of the Declarations, subject same manner as the aggregate limits to INSURING AGREEMENT Section II., Limits provided by the "first underlying insur- of Insurance. Except for the terms, conditions, ance," provided that all "underlying in- definitions and exclusions of this policy, the surance" applies their aggregate limit coverage provided by this policy will follow in the same manner as the "first un- the "first underlying insurance." derlying insurance." II. LIMITS OF INSURANCE 3. Subject to B.2., the occurrence limit stated in Item 4. of the Declarations is A. The Limits of Insurance shown in the Dec- the most we will pay for all "loss" larations and the rules below describe the arising out of any one occurrence to most we will pay under the terms of this which this policy applies. insurance regardless of the number of: 4. Subject to Paragraphs B.2. and B.3. 1. Insureds; above, if the "Underlying Limits of In- surance" described in Item 5. of the 2. claims made or suits brought; Declarations are either reduced or ex- 3. persons or organizations making hausted solely by payment of "loss," claims or bringing suits. such insurance provided by this policy will apply in excess of the reduced B. The Limits of Insurance of this policy will underlying limit or, if all underlying apply as follows: limits are exhausted, will apply as "un- derlying insurance" subject to the 1. This policy applies only in excess of same terms, conditions, definitions and the "Underlying Limits of Insurance" exclusions of the "first underlying in- shown in Item 5. of the Declarations. surance," except for the terms, condi- tions, definitions and exclusions of this 2. The aggregate limit shown in Item 4. policy. Risk T v o�N cn�c6 sk MM E 1/R ton \„ REVIEWED&APPROVED BY: Affe Au4d4 Risk Management Specialist CE 65 24 06 97 (Page 1 of 7)