Coach 2013 Annual Report Download - page 954

Exhibit S-1
INSURANCE COVERAGE
(A) Developer shall purchase and maintain the following insurance during the pendency of the Project and any additional period as may be required
elsewhere in the Development Agreement (“Agreement”). All insurance coverage required hereunder shall be issued in amounts required by law but in
no event less than those specified below and shall be issued by insurance companies having an A.M. Best Financial Strength Rating of “A-“ or better
and a Size Category of “VII” or greater. No work shall be commenced under this Agreement until Developer, Executive Construction Manager, and
the Construction Manager shall have obtained all of the following insurance and the Coach Member shall have approved of same:
i. Statutory Worker’s Compensation and Employers Liability in accordance with the laws of the State of New York as well as any applicable
Federal law (e.g. U.S. Longshore and Harbor Workers) and including coverage for “other states” as set forth in Part Three of the Workers
Compensation and Employers Liability Insurance Policy. Limits shall be as follows:
Employers Liability:
$1,000,000 Bodily Injury by Accident
$1,000,000 Bodily Injury by Disease
$1,000,000 Policy Limit for Bodily Injury by Disease
ii. Commercial General Liability insurance on an occurrence form in a minimum amount of Two Hundred Million Dollars ($200,000,000)
combined single limit per occurrence, and in the aggregate including a contractual liability endorsement. Such policy or policies shall
include coverage for bodily injury, including wrongful death, property damage liability, personal injury, advertising liability,
premises/operations, products/completed operations, broad form property damage, elevator liability (including coverage for escalators), and
such other coverages as the Coach Member may require. Commercial General Liability Insurance shall include Products and Completed
operations extended reporting period for the lesser of ten (10) years.
iii. Excess Liability Insurance may be provided on an Each Occurrence and Combined Single Limit excess of Commercial General Liability
and Employer’s Liability.
(B) If the Liability policies above do not contain the standard ISO separation of insureds provision, or an equivalent clause, such polices shall be
endorsed to provide cross-liability coverage.
Exhibit S-1 – Page 1