**NY INSURANCE EXCHANGE**

**EXCHANGE ENDORSEMENT NO. 1**

The endorsement subscribed below, effective 4/1/86, forms a part of contract No.: A 49894/36A issued to Lexington Insurance Company R/I Carpenter Technology Corp.

by the Underwriting Members of The New York Insurance Exchange, Inc. listed on Schedule A thereto.

(Not valid until signed by The New York Insurance Exchange, Inc. on behalf of participating Underwriting Members.)

In consideration of the premium charged it is agreed and understood that the following items are amended to read:

- **Item 1:** Excess Liability
- **Item 4:** $400,000 CSL P/O $1,500,000 CSL P/O $5,000,000 CSL X/S $10,000,000 CSL X/S Underlying of $10,000,000 CSL

All other terms and conditions remain the same.

New York Insurance Exchange, Inc. For and on Behalf of the Underwriting Members listed on Schedule A thereto.

**By: Rose Mary Cumia**
**Date:** 10/9/86

**FORM NO. 102(6/82)**