# Binder #2414
May 25, 1988

## Terms are as follows:

- **Tax Multiplier:** 1.033
- **LCF:** 1.06 applied to total loss limit
- **Basic:** .12
- **Minimum:** .20
- **Maximum:** Unity
- **Loss Limit:** $5,000,000 (Auto) allocated loss $5,000,000 (GL) expense applies separately in addition to loss limit.
- **Commission:** 4.9%
- **Standard:** $8,000,000

## Required Letter of Credit: $4,975,000
## Required Loss Fund: $350,000
## Collected premium in first twelve months is at a commission rate of 39.5%. Commission on audit is 4.9%.
## GL rate: $.541284 per $1,000 of payroll.
## Estimated payroll: $10,900,000,000.
## Premium for this policy is payable as follows:
- **Deposit:** $60,897
- **20,837 max. ELP**
- **100 Cal. surcharge**
- **$81,834**
- **11 Installments:** $60,897 each
- **20,833 each max. ELP**
- **$81,730**

kdm
Page 2 of 2 pages
Richard T. Michel
MM 009656