# SUBROGATION

INASMUCH AS this Certificate is Excess Reinsurance, the Reinsured's right of recovery against any person cannot be exclusively subrogated to the Reinsurer. It is, therefore, understood and agreed that in case of any payment hereunder, the Reinsurer will act in concert with all other interests (including the Reinsured) concerned, in the exercise of such rights of recovery. The apportioning of any amounts which may be so recovered shall follow the principle that any interests (including the Reinsured) that shall have paid an amount over and above any payment hereunder, shall first be reimbursed up to the amount paid by them. The Reinsured shall then be entitled to recover from the Reinsurer the remainder of the amount paid hereunder. Lastly, the interests (including the Reinsured) of whom this coverage is in excess are entitled to claim the residue, if any. Expenses necessary to the recovery of any such amounts shall be apportioned between the interests (including the Reinsured) concerned, in the ratio of their respective recoveries as finally settled.

# CANCELLATION

THIS CERTIFICATE may be cancelled by either party upon written notice, such notice to be not less than the number of days set forth in Item 5 of the Declarations. If cancellation is at the request of the Reinsured, adjustment of premium shall be at short rate, and if cancelled by the Reinsurer, adjustment shall be made pro rata. However, in the event of cancellation or non-renewal of the underlying insurance, this Certificate terminates as of the same date without notice to the Reinsured. This Certificate may also be cancelled by the Reinsurer at any time prior to its expiration by giving notice thereof. Notice shall be given by the Reinsured to the Reinsurer at 123 William Street, New York 38, New York and by the Reinsurer to the Reinsured at the latter's address as shown in the Declarations. Notice by the Reinsurer to the first named Reinsured, if more than one, shall be deemed notice to any other interest included as a Reinsured.

# PERIOD OF COVERAGE

THE TERM of this excess reinsurance, unless otherwise cancelled, shall be as shown in Item 6 of the Declarations.

# CONDITIONS

EXCEPT AS MAY BE inconsistent with the above, the coverage provided by this Certificate shall follow the reinsuring agreements, conditions and exclusions of the underlying insurance, including any change by endorsements. The Reinsurer shall be notified of all such endorsements and copies thereof shall be furnished to the Reinsurer upon request.

ALL TERMS AND CONDITIONS of the "Nuclear Energy Liability Exclusion Endorsement (Broad Form)" contained in the underlying insurance are specifically understood to be part of this Certificate.

THE LIMITS OF THE UNDERLYING INSURANCE shall be maintained in full effect during the currency of this Certificate, except for reduction of the primary limits by exhaustion of aggregate limits (if any) contained therein solely by payment of claims in respect of accidents or occurrences having occurred during the period of coverage specified herein. In the contrary in Items 2 and 3 of the Declarations the coverage provided by this Certificate applies only with respect to each accident or occurrence for limits in excess of the amount provided for same in the underlying insurance and is not to apply as primary insurance in the event of exhaustion of aggregate limits (if any) in the underlying insurance.

IF MORE THAN ONE REINSURED is named in the Declarations such additional Reinsured(s) shall not have the effect of increasing the Reinsurer's limit of liability for each accident or occurrence stated in Item 3 of the Declarations.

IN WITNESS WHEREOF the NORTH STAR REINSURANCE CORPORATION has caused this Certificate to be executed this 7th day of June 1967.

NORTH STAR REINSURANCE CORPORATION

Vice President

Assistant Secretary