EX-10.8 3 dex108.txt OUTSID DIRECTORS ACCIDENT INSURANCE POLICY [LOGO] CHUBB Blanket Accident Insurance EXHIBIT 10.8 -------------------------------------------------------------------------------- Declarations Chubb Group of Insurance Companies 15 Mountain View Road Warren, NJ 07059 Policyholder's Name and Mailing Address Policy Number 6404-48-82 RYERSON TULL, INC. 2621 WEST 15TH PLACE Effective Date JANUARY 1, 2001 CHICAGO, IL 60608 Issued by the stock insurance company indicated below. FEDERAL INSURANCE COMPANY Producer No. 0012211 Incorporated under the laws of INDIANA Producer WILLIS OF ILLINOIS, INC. 10 S. LASALLE STREET CHICAGO, IL 60603-0000 ================================================================================ Section I - Policy Period From: JANUARY 1, 200l To: JANUARY 1, 2002 12:01 A.M. standard time at the Policyholder's mailing address shown above. ================================================================================ Section II - Persons Insured The following are the Persons Insured under this policy: Class Description ----- ----------- 1 ALL NON-EMPLOYEE DIRECTORS OF INLAND STEEL INDUSTRIES AND ALL NON-EMPLOYEE DIRECTORS OF RYERSON-TULL. If an Insured Person is included in more than one Class, the Insured Person will be covered for only the Benefit Amount applicable to one Class. The Insured Person will be considered a member of the applicable Class that provides the Insured Person the largest Benefit Amount for the particular Accident and Loss that has occurred. An Insured Person is added for coverage as a Class member at any time during the policy period that the Insured Person fits the Class description. An Insured Person will be deleted from a Class and coverage ends at any time the Insured Person no longer fits the Class description. All premium adjustments will be made according to the terms of this policy. ================================================================================ Section III - Hazards The following are the Hazards during which coverage applies: Hazards Form Number ------- ----------- BUSINESS TRAVEL 44-02-0897 (01/95) continued -------------------------------------------------------------------------------- Form 44-02-0893(Ed. 1-95) Declarations Page 01 -------------------------------------------------------------------------------- (continued) ================================================================================ Section IV - Benefits BENEFIT AMOUNTS --------------- Accidental Loss of Life and Scheduled Benefits ---------------------------------------------- The following are Loss of Life Benefit Amounts for each Class and corresponding Hazards: Class Benefit Amounts ----- --------------- BUSINESS TRAVEL 1 $500,000. [_] Multiple of salary/compensation applies, refer to the Supplemental Benefit Amounts Declarations. ================================================================================ The following are Losses covered and the corresponding Scheduled Benefit Amounts. Accidental Loss of Percent of Loss of Life ------------------ ----------------------- Benefit Amount -------------- Life 100% Speech and Hearing 100% Speech and one of: Hand, Foot or Sight of One Eye 100% Hearing and one of: Hand, Foot or Sight of One Eye 100% Both Hands, Both Feet or Sight of Both Eyes or a Combination of a Hand, a Foot or Sight of One Eye 100% One Hand or One Foot or Sight of One Eye 50% Speech or Hearing 50% Thumb and Index Finger of the same Hand 25% ================================================================================ PERMANENT TOTAL DISABILITY MONTHLY BENEFIT ------------------------------------------ The following are Permanent Total Disability Benefit Amounts for each Class. The same Hazards apply as stated above for Accidental Loss of Life. Class Benefit Amount Elimination Period ----- -------------- ------------------ 1 $500,000. 12 MONTHS If an Insured Person has multiple Losses as the result of one Accident, we will pay only the single largest Benefit Amount applicable to the Losses suffered. ================================================================================ SEAT BELT --------- 10 percent of the Accidental Loss of Life Benefit Amount. continued -------------------------------------------------------------------------------- Form 44-02-0893(Ed. 1-95) Declarations Page 02 [LOGO] Blanket Accident Insurance CHUBB -------------------------------------------------------------------------------- Declarations Effective Date JANUARY 01, 2001 Policy Number 6404-48-82 ================================================================================ (continued) ================================================================================ Section V - Maximum Limit Of Insurance The following are the maximum amounts we will pay: Limit of Insurance ------------------ $5,000,000. per ACCIDENT If more than one (1) Insured Person suffers a Loss in the same Accident, we will not pay more than the maximum Limit of Insurance shown above. If an Accident results in Benefit Amounts becoming payable, which when totalled, exceed the applicable Limit of Insurance shown above, the maximum Limit of Insurance will be divided proportionally among the Insured Persons, based on each applicable Benefit Amount. ================================================================================ Coverage only applies for the Classes, Hazards, Benefit Amounts and Losses that are specifically indicated as covered. last page -------------------------------------------------------------------------------- Form 44-02-0893 (Ed. 1-95) Declarations Page 03 [LOGO] Blanket Accident Insurance CHUBB -------------------------------------------------------------------------------- Endorsement Policy Period JANUARY 1, 200l TO JANUARY 1, 2002 Effective Date JANUARY 01, 2001 Policy Number 6404-48-82 Policyholder RYERSON TULL, INC. Name of Company FEDERAL INSURANCE COMPANY Date Issued FEBRUARY 9, 2001 ================================================================================ The following amends the Blanket Accident Insurance Contract: ENDORSEMENT #2 TO AMEND CLASS 1 DESCRIPTION THE POLICY IS HEREBY AMENDED AS FOLLOWS: EFFECTIVE JANAUARY 1, 2001, THE FOLLOWING AMENDS THE CLASS DESCRIPTION SHOWN IN SECTION II OF THE DECLARATIONS TO: CLASS 1 ALL NON-EMPLOYEE DIRECTORS OF THE POLICYHOLDER. All other terms and conditions remain unchanged. Authorized Representative /s/ Robert Hamburger ----------------------------------------------------- last page -------------------------------------------------------------------------------- Form 44-02-0926(Ed. 1-95) Endorsement Page 1