**SCHEDULE OF UNDERLYING POLICIES**

| (A) Insurer, Policy Number, Policy Period | (B) Type of Coverage | (C) Limits of Insurance |
|-----------------------------------------|----------------------|------------------------|
| FIRST UNDERLYING POLICY<br>AIU INSURANCE COMPANY<br>BE 932-36-06<br>05-21-96 TO 05-21-97 | UMBRELLA             | $25,000,000.00<br>OCCURRENCE<br>$25,000,000.00<br>AGGREGATE           |
| INTERVENING LAYERS<br>VARIOUS COMPANIES<br>05-21-96 TO 05-21-97 | EXCESS               | $95,000,000.00<br>OCCURRENCE<br>$95,000,000.00<br>AGGREGATE           |

**Countersigned** **Date** **By** **Authorized Representative**

**SECTION I - COVERAGES**

In consideration of the payment of premium, we agree to pay on your behalf for loss excess of the Limits of Insurance shown in item 5 (C) of the declarations. The coverages provided by this policy shall be the same as that provided by each policy described in Item 5 - Schedule of Underlying Policies.

We shall be furnished a complete copy of each policy described in Item 5 of the declarations. You shall immediately notify us of any change in coverage or Limits of Insurance, other than a reduction in any aggregate limits as the result of the payment of a claim. Your failure to do this shall not invalidate this policy but, in the event you do fail to report such change, we shall be liable for loss to the same extent that we would have been had no change been made.

**SECTION II - LIMITS OF INSURANCE**

1. The Limits of Insurance shown in the declarations and the rules below fix the most we will pay regardless of the number of:
   a. Insureds;
   b. Claims made or suits brought; or
   c. Persons or organizations making claims or bringing suits.

The aggregate limit is the most we will pay for the sum of all loss subject to the aggregate in an underlying policy for which this policy applies.

3. Subject to 2. above, the occurrence limit is the most we will pay for loss because of any one occurrence for which this policy applies.

GAL 8700 (Ed. 02/89) PRO

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