# U.S. SHORT EXCESS FORM
**AGRL XS AXL 2000NY 02 19**

## INSURING AGREEMENTS:

### 1. COVERAGE

The Company (as stated in Item 8. of the Declarations) hereby agrees, subject to the limitations, terms and conditions contained herein, to pay on behalf of the Insured those sums which the Insured shall be legally obligated to pay by reason of the liability covered by and as more fully defined in the Followed Policy (as stated in Item 3.a. of the Declarations and hereinafter referred to as "Followed Policy"); provided however, that this Policy shall not apply until the Underlying Policy(ies) (as stated in Item 3.b. of the Declarations and hereinafter referred to as "Underlying Policy(ies)") and/or the Insured have paid or have been held liable to pay the full amount of their respective limit(s) of liability in accordance with Insuring Agreement 2, for any loss(es) covered by this Policy. If the Company is prevented by law or statute from paying damages covered by this Policy on behalf of the Insured, then the Company will indemnify the Insured for those sums.

The Company further agrees that this Policy will follow the same terms, definitions, exclusions and conditions (except as otherwise provided herein) as are, contained in the "Followed Policy".

Notwithstanding the foregoing, in the event that any of the following amendment(s) are subsequently made to the terms, definitions, exclusions or conditions of the "Followed Policy" in effect at inception hereof:

a. any change which is subject to an additional premium charge,

b. the inclusion of an additional coverage extension endorsement, or

c. any change to the insuring agreements, definitions, exclusions or conditions which broadens the scope of the coverage already provided, other than Insureds or Named Insureds added without an additional premium charge,

then such amendment(s) shall not be binding upon the Company unless otherwise agreed in writing by the Company.

If any "Underlying Policy(ies)" with limits of liability in excess of the "Followed Policy" but underlying to this Policy (the Intervening Policy(ies) as set forth in the Schedule of Underlying Policy(ies) attached to this Policy contain any terms, definitions, conditions, or exclusions that are more restrictive than this Policy or the "Followed Policy", whether on the effective date of this Policy or at any time during the Policy Period of this Policy, then this Policy shall not drop down to apply in place of such excluded coverage and the Insured shall be considered as a self-insurer to the extent that there is no other available insurance to cover the deficit.

### 2. LIMITS OF LIABILITY

AGR-IL M003 (06-04)
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