EXHIBIT 10.7
Schedule of Benefits
| | |
| | Chubb Group of Insurance Companies 15 Mountain View Road, P.O. Box 1615 Warren, New Jersey 07061-1615 |
Policyholder’s Name: RYERSON TULL, INC. | | |
| | Issued by the stock insurance company indicated below: FEDERAL INSURANCE COMPANY Incorporated under the laws of INDIANA |
BTA6000
Section I - Insured Persons
The following are theInsured Persons under this policy:
| | |
| Class | | Description |
| 1 | | All Active Full-Time Non-Employee Directors and Officers as listed on file with the Policyholder. |
| 2 | | The Spouses of Class 1 Primary Insured Person. |
| 3 | | The Dependent Child(ren) of Class 1 Primary Insured Person. |
BTA6002
If, subject to all the terms and conditions of this policy a person is eligible for insurance under multipleClassesof Insured Personsdescribed above, then such person will only be insured under theClasswhich provides theInsured Personthe largestBenefit Amountfor the loss that has occurred.
BTA6004
Section II - Qualification Period
ForInsured Persons in an eligibleClass on the Effective Date: none
ForInsured Personsentering an eligibleClassafter the Effective Date: none
BTA6008
Section III - Hazards
The following are theHazardsfor which insurance applies:
| | |
| Class | | Hazard(s) |
| 1 | | 24 Hour Business Travel, Extraordinary Commutation |
| 2 | | Business Travel Family |
| 3 | | Business Travel Family |
If, subject to all the terms and conditions of this policy anInsured Personhas insurance for covered loss on the date of anAccident,covered under multipleHazardsdescribed above, then only oneBenefit Amountwill be paid. ThisBenefit Amountshall be the largestBenefit Amountapplicable under all suchHazards.
BTA6010
Section IV - Benefits
A) Principal Sum
The following arePrincipal Sums for eachClass:
| | | | | |
Class | | Hazard | | Principal Sum |
| 1 | | 24 Hour Business Travel | | $ | 500,000 |
| 2 | | Extraordinary Commutation | | $ | 500,000 |
| 3 | | Business Travel Family | | $ | 25,000 |
| 4 | | Business Travel Family | | $ | 10,000 |
BTA6012
B) Accidental Death and Dismemberment Benefits:
This benefit applies to allClassesofInsured Persons.The following areLossesinsured and the correspondingBenefit Amountexpressed as a percentage of thePrincipal Sum:
Class(es)
All
| | | |
Accidental: | | Benefit Amounts (Percentage of Principal Sum) | |
Loss of Life | | 100 | % |
Loss of Speechand Loss of Hearing | | 100 | % |
Loss of Speechandone of Loss of Hand, Loss of Footor Loss of Sight of One Eye | | 100 | % |
Loss of Hearingand one of Loss of Hand, Loss of Footor Loss of Sight of One Eye | | 100 | % |
Loss of Hands(Both), Loss of Feet(Both), Loss of Sightor a combination of any two of Loss of Hand, Loss of Footor Loss of Sight of One Eye | | 100 | % |
Loss of Hand, Loss of Footor Loss of Sight of One Eye(Any one of each) | | 50 | % |
Loss of Speechor Loss of Hearing | | 50 | % |
Loss of Thumb and Index Fingerof the same hand | | 25 | % |
ThisBenefit Amountis subject to Section IV - Maximum Payment for Multiple Losses and Multiple Benefits, of the Contract.
BTA6016
If anInsured Personhas multipleLosses as the result of oneAccident,thenWe will pay only the single largestBenefit Amountapplicable to theLossessuffered, as described in Section IV - Maximum Payment For Multiple Losses and Multiple Benefits of the Contract.
BTA6018
C) Additional Benefits
The following areBenefit Amountsfor all other benefits provided under this policy:
Permanent Total Disability
Class 1
Benefit Amount (Monthly)1% of thePrincipal Sum
Maximum Benefit Amount100% of thePrincipal Sumup to a maximum of $500,000
Elimination Period365 days
ThisBenefit Amountis subject to Section IV - Maximum Payment for Multiple Losses and Multiple Benefits, of the Contract.
BTA6068
Psychological Therapy
Class 1
Benefit Amount 5% of thePrincipal Sumup to a maximum of $25,000
Class 2
Benefit Amount 5% of thePrincipal Sumup to a maximum of $25,000
Class 3
Benefit Amount 5% of thePrincipal Sumup to a maximum of $25,000
ThisBenefit Amountis not subject to Section IV - Maximum Payment for Multiple Losses and Multiple Benefits, of the Contract.
BTA6072
Rehabilitation Expense
Class 1
Benefit Amount 5% of thePrincipal Sumup to a maximum of $25,000
Class 2
Benefit Amount 5% of thePrincipal Sumup to a maximum of $25,000
Class 3
Benefit Amount 5% of thePrincipal Sumup to a maximum of $25,000
ThisBenefit Amountis not subject to Section IV -Maximum Payment for Multiple Losses and Multiple Benefits, of the Contract.
BTA6074
Seat Belt and Occupant Protection Device
Class 1
Benefit Amount for Seat Belt 10% of thePrincipal Sum
Alternate Benefit Amount$2,000
Benefit Amount for Occupant Protection Device10% of the Principal Sum
Maximum Benefit Amountfor SeatBelt and Occupant Protection Device20% of thePrincipal Sumto a maximum of $50,000
Class 2
Benefit Amount for Seat Belt10% of the Principal Sum
Alternate Benefit Amount$2,000
Benefit Amountfor Occupant Protection Device10% of the Principal Sum
Maximum Benefit Amountfor SeatBelt and Occupant Protection Device20% of the Principal Sumto a maximum of $50,000
Class 3
Benefit Amount for Seat Belt10% of the Principal Sum
Alternate Benefit Amount$2,000
Benefit Amountfor Occupant Protection Device10% of the Principal Sum
Maximum Benefit Amountfor SeatBelt and Occupant Protection Device20% of thePrincipal Sumto a maximum of $50,000
ThisBenefit Amountis not subject to Section IV - Maximum Payment for Multiple Losses and Multiple Benefits, of the Contract.
BTA6080
Section V - Aggregate Limit of Insurance
$5,000,000 perAccident
If more than one (1) Insured Personsuffersa Lossin the sameAccident,thenWewill not pay more than the Aggregate Limit of Insurance shown above. If anAccidentresults inBenefit Amountsbecoming payable, which when totaled, exceed the applicable Aggregate Limit of Insurance shown above, then the Aggregate Limit of Insurance will be divided proportionally among theInsured Persons,based on each applicableBenefit Amount.
BTA6088
Insurance only applies for theClasses, Hazards, BenefitsandLossesthat are specifically indicated as insured.
BTA6090
Hazards
Business Travel Family Hazard
Business TravelFamily Hazard means all circumstances, subject to the terms and conditions of this policy, to which aDependentofa Primary Insured Personmay be exposed while traveling in connection with thePrimary Insured Person’s Business Travelor Relocation Travel,provided that all such travel is authorized by, and at the expense of, thePolicyholder.
The insurance under thisBusiness Travel Family Hazardbegins at the actual start ofBusiness Travelor Relocation Travelwhether the point of origin is from theDependent’sresidence or regular place of employment, whichever occurs last. ThisBusiness Travel Family Hazardends immediately upon returnto a Dependent’sresidence or regular place of employment, whichever occurs first.
ThisBusiness Travel Family HazardincludesPersonal Excursion.
Limitation on Business Travel Family Hazard
With respect to thisBusiness Travel Family Hazard:
| 1) | no person insured as aPrimary Insured Personcan be insured as aDependent;and |
| 2) | no person shall be insured as aDependentof more than onePrimary Insured Person. |
BTA5514
Extraordinary Commutation Hazard
Extraordinary Commutation Hazardmeans all circumstances, subject to the terms and conditions of this policy, arising from and occurring duringCommutationby a Primary Insured Personusing any form of conveyance when a strike, major breakdown or catastrophe causes the discontinuance of service of one or more public transportation system(s) regularly used by suchPrimary Insured Personfor Commutation.ThisExtraordinary Commutation Hazardends with resumption of service of the affected transportation system(s) or the expiration of sixty (60) consecutive days, whichever occurs first.
BTA5506
24 Hour Business Travel Hazard
24 HourBusiness Travel Hazard means all circumstances, subject to the terms and conditions of this policy, arising from and occurring while thePrimary Insured Personis onBusiness Travelor Relocation Travel.
Insurance under this24Hour Business Travel Hazardbegins at the actual start ofBusiness Travelor Relocation Travelwhether the point of origin is from thePrimary Insured Person’sresidence or regular place of employment, whichever occurs last. Insurance under this24Hour Business Travel Hazardends immediately upon return to thePrimary Insured Person’sresidence or regular place of employment, whichever occurs first.
24Hour Business Travel Hazarddoes not includeCommutation.24Hour Business Travel HazardincludesPersonal Excursion.
BTA5528
