# NY INSURANCE EXCHANGE

## EXCHANGE CONTRACT

The New York Insurance Exchange, Inc. (the "Exchange"), with its offices at 59 John Street, New York, New York 10038, issues this Contract to the insured(s) or reinsured(s) named in Schedule A attached hereto, in the name of and for the account of the Underwriting Members of the Exchange indexed in Schedule A for the dollar or percentage participation shown opposite each Underwriting Member's designation. Each Underwriting Member commits to individual and several liabilities and not to joint liability.

Schedule B describes all the terms and conditions which apply to insurance or reinsurance provided by this contract.

This Contract is issued in accordance with the Constitution and By-Laws of the Exchange and the rules promulgated thereunder, and is entitled to the benefits of the Security Fund as defined and to the extent provided in Article XIII of the Constitution and By-Laws of the Exchange.

The Exchange is not a party to this Contract and has no liability hereunder.

The signature of the Exchange by its authorized officers hereon establishes the dollar or percentage participations of the Underwriting Members listed in Schedule A below. The Index of Authorized Underwriting Members showing the name of each Authorized Underwriting Member whose Index number appears in Schedule A, is available for inspection by the Insured or his representative at the Office of the Secretary of the Exchange.

NEW YORK INSURANCE EXCHANGE, INC.

By [Signature]
President

By [Signature]
Secretary

FORM NO. EC-83 (8/83)