# Centennial Insurance Company

45 Wall Street, New York, New York 10005

A stock insurance company, herein called the company,

Agrees with the insured named in the declarations made a part hereof, in consideration of the payment of the premium and in reliance upon the statements, warranties, representations, and declarations and subject to the limits of liability, exclusions, and other terms of this policy.

## Insuring Agreements

### I. Coverage
To indemnify the insured for the ultimate net loss in excess of the retained limit hereinafter defined, which the insured shall become legally obligated to pay as damages by reason of the liability imposed upon the insured by law or assumed by the insured under contract on account of:

- A. Personal Injury Liability,
- B. Property Damage Liability, or
- C. Advertising Liability

in respect of bodily injuries caused by an occurrence anywhere in the world.

### II. Defense Settlement
With respect to any occurrence not covered by the underlying policies listed in Schedule A hereto or any other underlying insurance collectible by the insured but covered by the terms and conditions of this policy except for the amount limited specified in Item 2 of the declarations, the company shall:

- A. Defend and be bound to defend the insured alleging such injury or damage as a basis for liability, even if such suit is groundless, base or fraudulent; but the company may, at its option, investigate, defend, and settle all claims or suits as it deems expedient.
- B. Pay all premiums on bonds to release attachments for an amount not in excess of the applicable limit of liability of this policy, all premiums on appeal bonds incurred by the insured, defended by the company, but without obligation to apply for or furnish any such bond.
- C. Pay all expenses incurred by the company, all costs taxed against the insured, and all interest accruing after entry of judgment until the company has paid or rendered or deposited in court such part of such judgment as does not exceed the limit of the company's liability.

### III. Definition of "Named Insured" and "Insured"
The unqualified word "insured" wherever used, includes the named insured and also:

- A. Any person, organization, trustee, or estate to whom or to which the named insured is obligated by virtue of a written contract to provide insurance such as is afforded by this policy, with respect to coverages except with respect to the ownership, maintenance or use, including loading or unloading of any automobile or aircraft;
- B. Any executive officer, director, or stockholder thereof while acting within the scope of his duties therefor;
- C. Any organization or proprietor with respect to real estate management owned by the named insured;
- D. Any person while using an automobile owned by or loaned to the named insured for use in behalf of the named insured and any person or organization legally responsible for the use thereof provided the actual use of the automobile is by the named insured with the named insured's permission, and any executive officer, director, or stockholder of the named insured with respect to the use of an automobile not owned by the named insured, unless the use exceeds the named insured's permission with respect to any person or organization other than the named insured.

### Exclusions
Exclusions appear on reverse side of declarations (Part Two).

**IBM-ZRIND 00072**