**Binder # 2438**

**April 24, 1981**

2) **Premium Payment:** $1,238,449 (75% of $1,654,555)

Payable as follows: $206,414 due on 5/21/81 and five (5) equal installments of 206,407 payable the 21st of the month from June through October.

3) **Breakdown of rates per $1,000 payroll:**

| Standard | Excess | Total |
|----------|--------|-------|
| $.10174  | $.11849 | $.30023 |

4) **Estimated payroll for period 5/21/81-82 is $5,500,000,000. (Only 75% of payroll is to appear on the policy).**

5) **Paid Loss Retro Factors and Loss Division Plan to remain the same except the Basic will be 13.6%.**

Commission for the renewal will be 5% (included in above rates and premium)

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