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r i e ~~ (R) ArbifrafionlService of Suit Any controversy or dispute arising out of or relating to an Interpretation or breach of this POLICY, shall be settled by binding arbltratlon In accordance with the Rules of the Ameripn Arbitration Association and Judgment upon the award rendered by the arbitrator(s) may be entered In any court having Jurlsdlctlon thereover. The arbltratlon process shall be governed by and conducted In accordance with the laws of the State of New York. The terms of this POLICY are to be construed In an evenhanded fashion as between the INSURED end the COMPANY In accordance with the laws of the Jurlsdlctlon In which the situation forming the basis for this controversy arose. Where the language of this POLICY is deemed to ba ambiguous or otherwise unclear, the Issue shall be resolved Ina manner most consistent with the relevant terms of the POLICY without regard to authorship of the language and without any presumption or arbitrary Interpretation or construction In favor of either the INSURED or the COMPANY. In reaching any decision the arbitrators shall glue due consideration tar the customs and usages of the Insurance Industry. In the event of a Judgment entered against the COMPANY on an arbltratlon award, the COMPANY at the request of the NAMED INSURED, shall submit to the Jurlsdlctlon of any court of competent Jurlsdlctlon within the United States of America, and shall comply with all requirements necessary to give such court Jurlsdlctlon and all matters relating to such Judgment and Its enforcement shall be determined In accordance with the law end practice of such court. Service of process In such suit ar any other suit against the COMPANY, may be made upon Messrs. LeBoeuf, Lamb, Lelby & MacRae, 520 Madison Avenue, New York, New York 10022, and In any suit Instituted against It under this POLICY, the COMPANY will abide by the final decision of such court or of any appellate court In the event of any appeal. Messrs. LeBoeuf, Lamb, Lelby & MacRae are authorized and directed to accept service of process on behalf of the COMPANY In any such suit and, upon the NAMED INSURED'S request, to glue a written undertaking to the NAMED INSURED that they will enter a general appearance upon the COMPANY'S behalf In the event such suit Is Instituted. (g) Severabi/ify In the event that any provision of this POLICY shall be declared or deemed to be Invalid or unenforceable under any applicable law, such Invalidity or unenforceabllity shall not affect the validity or enforceability of the remaining portion of this POLICY. (7) Non-Asressability The NAMED INSURED (and, accordingly, any INSURED for which It acts as agent) shall only be liable under this POLICY for the premium stated In Item 4 of the Declarations. No INSURED shall be subject to any contingent liability or be required to pay any dues or assessments In addition to the premium described above. IN WITNESS WHEREOF, Associated Electric & Gas Insurance Services Limited has caused this POLICY to be signed by Its Chairman at Hamilton, Bermuda, but this POLICY shall not ba binding upon the COMPANY unless countersigned hereunder by a duly authorized representative of the COMPANY. Robert R. Fortune, Chalrmar 8100 (1/90) [ 15 of 15 ]