PYRAMID GROUP INTERNATIONAL, INC. (5)

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As specified in the Declarations: Contractors Pollution Liability Policy 1. The "Damages Limit for Each Claim" amount shown in the Declarations is the maximum amount the Company will pay under all Coverage Parts combined that form a part of this Policy for damages that arise out of any one claim; 2. The "General Aggregate Limit for Damages (Other than Products -Completed Operations)" amount shown in the Declarations is the maximum amount the Company will pay under all Coverage Parts combined that form a part of this Policy, for all damages arising from covered claims (other than those included in the products -completed operations hazard); 3. The "Claims Expense Limit for Each Claim" amount shown in the Declarations is the maximum amount the Company will pay for all claims expenses that arise out of any one claim that is covered under either or both of the Contractors Pollution Liability and/or the Professional Liability Coverage Parts; 4. The "Claims Expense Aggregate Limit' amount shown in the Declarations is the maximum amount the Company will pay for all claims expenses that arise from covered claims that are covered under either or both of the Contractors Pollution Liability and/or the Professional Liability Coverage Parts. The Limits of Insurance apply separately to each consecutive annual period and to any remaining period of less than 12 months, starting with the beginning of the policy period shown in the Declarations, unless the policy period is extended after issuance for an additional period of less than 12 months. In that case, the additional period will be deemed part of the last preceding period for purposes of determining the Limits of Insurance. If this Policy and any other Policy providing coverage by the Company or any affiliate company apply to the same pollution condition or series of related pollution conditions, the aggregate maximum Limit of Liability payable under all of the policies combined shall be limited to the amount of the highest applicable Limit of Liability payable under any one of the policies. Related pollution conditions are those pollution conditions that arise out of, are based on, relate to or are in consequence of, the same facts, circumstances or situations. The Limits of Insurance shown in the Declarations shall apply in excess of the Deductible amount shown in the Declarations. IV. DEDUCTIBLE As respects each claim first made against the insured, the named insured shall be responsible for payment for that amount of damages or claims expenses indicated in the Declarations as the Deductible amount. The Company shall not be responsible to make any payments for either damages or claims expenses, or any coverage or payment provided pursuant to Section I.B., Supplementary Coverages and Payments, unless and until the full amount of the Deductible has been paid by the named insured. Should the Company, for any reason, pay the entire amount of damages, claims expenses or supplementary payments without regard to the Deductible amount, the insured will reimburse the Company, within 30 days of the Company's request for such reimbursement, for that part of the Deductible Amount which has been paid. iF V. EXCLUSIONS ai `„ REVIE &APPROVBJBY. Rkk Management Waalist © Freberg Environmental Inc, 2000 All rights reserved.