Safety National Casualty Corporation 4/25/2020

the Effective Date. III. SETTLEMENT PAYMENT A. Subject to all the terms, provisions and conditions in this Agreement(and in order to resolve, inter alia, the insurance claim made by the City of Everett in connection with the VCP Claim and Environmental Contamination associated with the GTS Site), Safety National will pay to the City of Everett the sum of $500,000 (referred to hereinafter as the "Settlement Amount")within 30 days of this Agreement's date of execution on behalf of City of Everett. B. The Parties agree and jointly represent that the consideration paid and the waivers and releases given pursuant to this Agreement constitute fair and adequate consideration for the releases granted and other terms of this Agreement. C. The Parties agree that the settlement payment made under this Section III may be allocated to Safety National's policies as Safety National deems appropriate. IV. RELEASES Upon the Effective Date, and in consideration of the promises and obligations set forth in this Agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and subject to all of the terms and conditions in this Agreement: A. The City of Everett, on its own behalf and on behalf of the City Releasees, hereby fully, finally and completely acquits, releases and forever discharges the Safety National Releasees, and each of them, from and covenant not to sue the Safety National Releasees, or any of them, for any and all Claims, expenses and compensation of any kind and nature whatsoever, relating to, arising out of, and/or in connection with the Policies which arise from or relate to: (a) the GTS Site; (b) the VCP Claim; (c) any other property or location onto which Environmental Contamination has actually or allegedly emanated from, migrated from or been transported, Settlement Agreement and Site Release Page—7 2625918/1470.0003