NOVATION AND ASSUMPTION AGREEMENT by and among MCDERMOTT INTERNATIONAL, INC., a Panamanian corporation, and BABCOCK & WILCOX HOLDINGS, INC., a corporation organized and existing under the laws of the State of Delaware, and BOUDIN INSURANCE COMPANY,...

Exhibit 10.7

GROUP IV AGREEMENT

NOVATION AND ASSUMPTION AGREEMENT

by and among

XXXXXXXXX INTERNATIONAL, INC.,

a Panamanian corporation,

and

XXXXXXX & XXXXXX HOLDINGS, INC.,

a corporation organized and existing under the laws of the State of Delaware,

and

BOUDIN INSURANCE COMPANY, LTD., a Bermuda company

and

CREOLE INSURANCE COMPANY, LTD., a Bermuda company,

RECITALS

THIS NOVATION AND ASSUMPTION AGREEMENT (the “Agreement”), is entered into and effective as of May 18, 2010 (the “Effective Date”) by and among XXXXXXXXX INTERNATIONAL, INC., a Panamanian corporation (“MII”), XXXXXXX & XXXXXX HOLDINGS, INC., a Delaware corporation (“B&W”), to be succeeded by The Xxxxxxx & Xxxxxx Company, a Delaware corporation, after the effective time of the Merger, CREOLE INSURANCE COMPANY, LTD., a Bermuda company (“Creole”), and BOUDIN INSURANCE COMPANY, LTD., a Bermuda company (“Boudin”) and, solely with respect to Sections 2(a)(ii) and 2(c)(ii), respectively, the other MII Entities signatory hereto and the other B&W Entities signatory hereto.

WHEREAS, Boudin or Creole have issued the Existing Policies to one or more MII Entities and one or more B&W Entities; and

WHEREAS, pursuant to the Existing Policies, Boudin and Creole are obligated, among other things, to pay or reimburse MII Entities and/or B&W Entities for certain obligations; and

WHEREAS, B&W, prior to the Separation, is a wholly owned Subsidiary of MII; and

WHEREAS, MII intends to spin-off B&W from MII through a dividend of common stock of B&W to the shareholders of MII (the “Separation”); and

WHEREAS, in connection with the Separation: (a) Boudin desires to transfer and Creole desires to assume any Transferable Boudin Policies insofar as such policies relate to B&W Entities; and (b) Creole desires to transfer and Boudin desires to assume any Transferable Creole Policies insofar as such policies relate to MII Entities; and

WHEREAS, MII and B&W are parties, together with ACE American Insurance Company and certain of its affiliates (collectively, “ACE”) to a certain Assumption and Loss Allocation Agreement (the “ALAA”) that, among other things, assists in effecting the Separation by identifying certain MII Obligations and certain B&W Obligations and allocating liability and responsibility therefor; and

WHEREAS, certain of the liabilities of MII and/or B&W and their respective Affiliates that are insured by the Existing Policies under this Agreement are MII Obligations and/or B&W Obligations under the ALAA, and the parties desire that the allocation of liability in this Agreement conform to that in the ALAA insofar as such overlap may exist; and

WHEREAS, each of MII and B&W, each for itself and for its respective Subsidiaries, is willing to consent to the transfer, assumption, and novation of the matters set forth herein, subject to the terms and conditions of this Agreement;

NOW, THEREFORE, in consideration of the mutual promises set out herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. Definitions. The following terms used herein, including in the recitals and Exhibits hereto, shall have the following meanings:

“ACE” has the meaning set forth in the recitals to this Agreement.

“Affiliate” means, with respect to any specified Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the specified Person. For this purpose “control” of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through ownership of voting securities, by contract or otherwise.

“Agreement” has the meaning set forth in the recitals to this Agreement.

“ALAA” has the meaning set forth in the recitals to this Agreement.

“Assumption Time” means midnight (New York time) on the Effective Date.

“B&W” has the meaning set forth in the recitals to this Agreement.

“B&W Entity” means B&W and each of the entities listed on Exhibit I attached hereto and made a part hereof. It is acknowledged and understood that, from and after the effectiveness of the Separation, the B&W Entities will not be Subsidiaries or Affiliates of MII or any of the other MII Entities.

“B&W Obligations” shall have the meaning ascribed to such term in the ALAA and shall be interpreted under this Agreement to conform to interpretations under the ALAA.

“Boudin Assumption and Novation” has the meaning set forth in Section 2(a)(i).

“Creole Assumption and Novation” has the meaning set forth in Section 2(c)(i).

“Effective Date” has the meaning set forth in the recitals to this Agreement.

“Existing Policies” means the Transferable Boudin Policies, the Transferable Creole Policies, the Wholly Retained Boudin Policies, and the Wholly Retained Creole Policies.

“Insured,” as a noun in reference to one or more insurance policies, means any Person who is insured by such policy or policies, regardless of whether such Person is designated an “Insured” or a “Named Insured” in such policy or is otherwise expressly identified therein.

“Insured B&W Obligation” means an obligation of Creole or Boudin under the Existing Policies that arises from an obligation to ACE or its Affiliates that is a B&W Obligation under the ALAA.

“Insured MII Obligation” means an obligation of Creole or Boudin under the Existing Policies that arises from an obligation to ACE or its Affiliates that is an MII Obligation under the ALAA.

“Insurer,” as a noun in reference to one or more insurance policies, means the Person identified in such policy or policies as the insurer.

“Inter-Captive Reinsurance Agreements” has the meaning set forth in Section 2(e).

“Master Separation Agreement” means a Master Separation Agreement to be entered into between MII and The Xxxxxxx & Xxxxxx Company in connection with the Separation.

“Merger” means the merger, to occur after the date hereof, of Xxxxxxx & Xxxxxx Holdings, Inc., a Delaware corporation, with and into The Xxxxxxx & Xxxxxx Company, a Delaware corporation and the surviving entity of such Merger.

“MII” has the meaning set forth in the recitals to this Agreement.

“MII Entity” means MII and each of the entities listed on Exhibit II attached hereto and made a part hereof. It is acknowledged and understood that, from and after the effectiveness of the Separation, the MII Entities will not be Subsidiaries or Affiliates of B&W or any of the other B&W Entities.

“MII Obligations” shall have the meaning ascribed to such term in the ALAA and shall be interpreted under this Agreement to conform to interpretations under the ALAA.

“Organizational Documents” means (a) with respect to any corporation, its certificate or articles of incorporation or organization and its bylaws, (b) with respect to any limited partnership, its certificate of limited partnership and its partnership agreement, (c) with respect to any general partnership, its partnership agreement, and (d) with respect to any limited liability company, its certificate or articles of formation or organization and its operating agreement or other organizational documents.

“Parties” means MII, B&W, Boudin and Creole collectively (and each individually is a “Party”).

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, a union, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof.

“Separation” has the meaning set forth in the recitals to this Agreement.

“Subsidiary” means, with respect to any specified Person, any corporation, partnership, limited liability company, joint venture or other organization, whether incorporated or unincorporated, of which at least a majority of the securities or interests having by the terms thereof ordinary voting power to elect at least a majority of the board of directors or others performing similar functions with respect to such corporation or other organization is directly or indirectly owned or controlled by such specified Person or by any one or more of its Subsidiaries, or by such specified Person and one or more of its Subsidiaries.

“Transferable Boudin Policy” means each insurance policy issued prior to the date hereof by Boudin on which a B&W Entity is named or otherwise identified as an insured (including without limitation by being within a generic description such as “affiliates” or “subsidiaries”).

“Transferable Creole Policy” means each insurance policy issued prior to the date hereof by Creole on which an MII Entity is named or otherwise identified as an insured (including without limitation by being within a generic description such as “affiliates” or “subsidiaries”).

“Transferred Boudin Policy” means, as to any Transferable Creole Policy after the Assumption Time and giving effect to this Agreement, the aggregate of (a) all rights, duties, and obligations of Boudin vis-à-vis the MII Entities that were, prior to the Assumption Time, Insureds of Creole under such Transferable Creole Policy, and (b) all rights, duties, and obligations vis-à-vis Boudin of the MII Entities that were, prior to the Assumption Time, Insureds of Creole under such Transferable Creole Policy.

“Transferred Creole Policy” means, as to any Transferable Boudin Policy after the Assumption Time and giving effect to this Agreement, the aggregate of (a) all rights, duties, and obligations of Creole vis-à-vis the B&W Entities that were, prior to the Assumption Time, Insureds of Boudin under such Transferable Boudin Policy, and (b) all rights, duties, and obligations vis-à-vis Creole of the B&W Entities that were, prior to the Assumption Time, Insureds of Boudin under such Transferable Boudin Policy.

“Wholly Retained Boudin Policy” means an insurance policy issued by Boudin to one or more MII Entities (and possibly others) that is not a Transferable Boudin Policy.

“Wholly Retained Creole Policy” means an insurance policy issued by Creole to one or more B&W Entities (and possibly others) that is not a Transferable Creole Policy.

2. Assumption.

(a) Boudin Assumption and Novation. Notwithstanding anything in any Transferable Creole Policy to the contrary, and effective as of the Assumption Time, Creole hereby transfers and assigns, and Boudin hereby assumes by novation, (x) so much of each Transferable Creole Policy as relates to MII or any MII Entity as an Insured thereunder; and (y) any and all obligations of Creole under any of the Existing Policies that arise from Insured MII Obligations. In connection with and implementation of such transfer, assignment, and novation:

(i) Boudin hereby agrees to observe, pay, perform, satisfy, fulfill and discharge any and all now existing and hereafter arising duties, terms, provisions, covenants, obligations and liabilities of Creole under the Transferable Creole Policies and with respect to the Insured MII Obligations, both insofar as transferred above (the “Boudin Assumption and Novation”); and

(ii) Each MII Entity that is a signatory hereto hereby consents to, and agrees to give full force and effect to, the Boudin Assumption and Novation. From and after the Assumption Time, Boudin and not Creole shall be treated as the applicable MII Entity’s contractual counterparty with respect to the contracts and mutual rights and obligations subject to the Boudin Assumption and Novation. Without limitation, each MII Entity:

may enforce against Boudin its rights under the Transferable Creole Policies or with respect to any Insured MII Obligation to the same extent such Person could, prior to the Boudin Assumption and Novation, enforce such rights against Creole, and

shall perform for the benefit of Boudin any obligation under the Transferable Creole Policies or with respect to any Insured MII Obligation to the same extent such Person was obligated, prior to the Boudin Assumption and Novation, to perform such obligations for the benefit of Creole, and

releases Creole from its obligation to observe, pay, perform, satisfy, fulfill or discharge any obligations under any Transferable Creole Policy or with respect to any Insured MII Obligation.

(iii) With respect to each Transferable Creole Policy that is subject to the Boudin Assumption and Novation, the aggregate of rights, duties, and obligations set forth in subsections (a)(i) and (a)(ii) above shall be treated as the Transferred Boudin Policy relating to such Transferable Creole Policy.

(b) No Transfer or Novation of Creole Obligations to B&W Entities. Except to the extent (which the Parties do not expect) that the Wholly Retained Creole Policies are determined to cover Insured MII Obligations notwithstanding the absence of any MII Entity as an Insured thereunder, the Wholly Retained Creole Policies are not novated or otherwise affected by the Boudin Assumption and Novation. The Transferable Creole Policies are novated to Boudin as set forth above only to the extent that one or more MII Entities is an insured thereunder. To the extent that B&W Entities are insureds under the Transferable Creole Policies, the Parties acknowledge that Creole and not Boudin shall continue to observe, pay, perform, satisfy, fulfill and discharge any and all now existing and hereafter arising duties, terms, provisions, covenants, obligations and liabilities of the Insurer under the Transferable Creole Policies. The Parties further acknowledge that Creole and not Boudin shall continue to observe, pay, perform, satisfy, fulfill and discharge any and all now existing and hereafter arising duties, terms, provisions, covenants, obligations and liabilities of the Insurer with respect to the Insured B&W Obligations.

(c) Creole Assumption and Novation. Notwithstanding anything in any Transferable Boudin Policy to the contrary, and effective as of the Assumption Time, Boudin hereby transfers and assigns, and Creole hereby assumes by novation, (x) so much of each Transferable Boudin Policy as relates to B&W or any

B&W Affiliate as an Insured thereunder; and (y) any and all obligations of Boudin under any of the Existing Policies that arise from Insured B&W Obligations. In connection with and in implementation of such transfer, assignment, and novation:

(i) Creole hereby agrees to observe, pay, perform, satisfy, fulfill and discharge any and all now existing and hereafter arising duties, terms, provisions, covenants, obligations and liabilities of Boudin under the Transferable Boudin Policies and with respect to the Insured B&W Obligations, both insofar as transferred above (the “Creole Assumption and Novation”); and

(ii) Each B&W Entity that is a signatory hereto hereby consents to, and agrees to give full force and effect to, the Creole Assumption and Novation. From and after the Assumption Time, Creole and not Boudin shall be treated as the B&W Entity’s contractual counterparty with respect the contracts and mutual rights and obligations subject to the Creole Assumption and Novation. Without limitation, each B&W Entity:

may enforce against Creole its rights under the Transferable Boudin Policies or with respect to any Insured B&W Obligation to the same extent such Person could, prior to the Creole Assumption and Novation, enforce such rights against Boudin, and

shall perform for the benefit of Creole any obligation under the Transferable Boudin Policies or with respect to any Insured B&W Obligation to the same extent such Person was obligated, prior to the Creole Assumption and Novation, to perform such obligations for the benefit of Boudin, and

releases Boudin from its obligation to observe, pay, perform, satisfy, fulfill or discharge any obligations under any Transferable Boudin Policy or with respect to any Insured B&W Obligation.

(iii) With respect to each Transferable Boudin Policy that is subject to the Creole Assumption and Novation, the aggregate of rights, duties, and obligations set forth in subsections (c)(i) and (c)(ii) above shall be treated as the Transferred Creole Policy relating to such Transferable Boudin Policy.

(d) No Transfer or Novation of Boudin Obligations to MII Entities. Except to the extent (which the Parties do not expect) that the Wholly Retained Boudin Policies are determined to cover Insured B&W Obligations notwithstanding the absence of any B&W Entity as an Insured thereunder, the Wholly Retained Boudin Policies are not novated or otherwise affected by the Creole Assumption and Novation. The Transferable Boudin Policies are novated to Creole as set forth above only to the extent that one or more B&W Entities is an insured thereunder. To the extent that MII Entities are insureds under the Transferable Boudin Policies, the Parties acknowledge that Boudin and not Creole shall continue to observe, pay, perform, satisfy, fulfill and discharge any and all now existing and hereafter arising duties, terms, provisions, covenants, obligations and liabilities of the Insurer under the Transferable Boudin Policies. The Parties further acknowledge that Boudin and not Creole shall continue to observe, pay, perform, satisfy, fulfill and discharge any and all now existing and hereafter arising duties, terms, provisions, covenants, obligations and liabilities of the Insurer with respect to the Insured MII Obligations.

(e) Commutation and Release of Mutual Reinsurance by Boudin and Creole. Effective at the Assumption Time, Creole and Boudin do hereby commute any and all contracts of reinsurance by which one of them reinsured the other (the “Inter-Captive Reinsurance Agreements”). In furtherance of such commutation, and also effective at the Assumption Time, Creole and Boudin do hereby fully release and discharge one another from and against any past, present, or future liabilities or obligations, known or unknown, arising under the Inter-Captive Reinsurance Agreements.

(f) No Effect on Aggregate Limits of Liability. For the avoidance of doubt, it is understood and agreed that the aggregate liability of Creole and Boudin, taken together, is not intended to be, and shall be deemed not to be, increased by implementation of this Agreement. In particular, and without limitation, to the extent that any Transferable Creole Policy (or Transferable Boudin Policy) contains an aggregate limit of liability,

that aggregate limit of liability shall, after the Assumption Time, apply as a single, joint aggregate limit of liability as between (i) the resulting Transferred Boudin Policy (or Transferred Creole Policy) and (ii) the portions of the Transferable Creole Policy (or Transferable Boudin Policy) that are retained pursuant to Section 2(b) (or Section 2(d)) above. Disputes as to priority of claims and/or allocation of the single, joint aggregate limit of liability shall be resolved pursuant to Section 12 hereof.

3. Amendments. Neither this Agreement nor any provision hereof may be amended, changed, waived, discharged or terminated except by a written instrument signed by each Party.

4. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns. Neither this Agreement nor any right or obligation hereunder may be assigned or conveyed by any Party without the prior written consent of the other Parties, which consent shall not be unreasonably withheld.

5. No Waiver. The failure or refusal by any Party to exercise any rights granted hereunder shall not constitute a waiver of such rights or preclude the subsequent exercise thereof, and no oral communication shall be asserted as a waiver of any such rights hereunder unless such communication shall be confirmed in a writing plainly expressing an intent to waive such rights and signed by the Party against whom such waiver is asserted.

6. Counterparts. This Agreement may be executed in any number of counterparts each of which when so executed and delivered shall constitute an original, but such counterparts together shall constitute one and the same agreement. The exchange of copies of this Agreement and of signature pages by facsimile transmission shall constitute effective execution and delivery of this Agreement as to the Parties and may be used in lieu of the original Agreement for all purposes. Signatures of the Parties and other Persons signatory hereto transmitted by facsimile shall be deemed to be their original signatures for all purposes.

7. No Third Party Beneficiary. This Agreement shall not be deemed to give any right or remedy to any third party whatsoever unless otherwise specifically granted hereunder.

8. Parties’ Representations. As of the Effective Date, each of the Parties expressly represents on its own behalf: (a) it is an entity in good standing in its jurisdiction of organization; (b) it has all requisite corporate power and authority to enter into this Agreement, and to perform its obligations hereunder; (c) the execution and delivery by it of this Agreement, and the performance by it of its obligations under this Agreement, have been duly authorized by all necessary corporate or other action; (d) this Agreement, when duly executed and delivered by it, and subject to the due execution and delivery hereof by the other Parties, will be a valid and binding obligation of it, enforceable against it, its successors and permitted assigns, in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equity principles; (e) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby in accordance with the respective terms and conditions hereof will not (i) violate any provision of its Organizational Documents, (ii) violate any applicable order, judgment, injunction, award or decree of any court, arbitrator or governmental or regulatory body against it, or binding upon it, or any agreement with, or condition imposed by, any governmental or regulatory body, foreign or domestic, binding upon it as of the date hereof, or (iii) violate any agreement, contract, obligation, promise or undertaking that is legally binding and to which it is a party or by which it is bound; and (f) the signatory hereto on behalf of it is duly authorized and legally empowered to enter into this Agreement on its behalf.

9. Notices. Any and all notices, requests, approvals, authorizations, consents, instructions, designations and other communications that are required or permitted to be given pursuant to this Agreement shall be in writing and may be given either by personal delivery, first class prepaid post (airmail if to another country) or by internationally recognized overnight delivery service to the following address, or to such other address and recipient as such Party may have notified in accordance with the terms of this section as being its address or recipient for notification for the purposes of this Agreement:


If to Boudin:	Boudin Insurance Company, Ltd., c/o McDermott International, Inc.
	000 X. Xxxxxxxx Xxxxxxx Xxxxxxx, Xxxxx 00000
	Attention:	VP and Chief Risk Officer (with copy to General Counsel)

	Telephone:	000-000-0000
	Telecopier:	000-000-0000
	Electronic Mail:	xxxxxxxx@xxxxxxxxx.xxx

	with a copy to:
	Boudin Insurance Company, Ltd. Cedar Xxxxx 00 Xxxxx Xxxxxx X.X. Xxx XX 0000 Xxxxxxxx XX XX Xxxxxxx Xxxxxxx
	Fax	(000) 000-0000
	Telephone:	000-000-0000
	Telecopier:	000-000-0000
	Electronic Mail:	xxxxxx@xxxxxxxxx.xxx

If to any MII Entity:	XxXxxxxxx International, Inc. 000 X. Xxxxxxxx Xxxxxxx Xxxxxxx, Xxxxx 00000
	Attention:	VP and Chief Risk Officer (with copy to General Counsel)

	Telephone:	000-000-0000
	Telecopier:	000-000-0000
	Electronic Mail:	xxxxxxxx@xxxxxxxxx.xxx

If to Creole:	Creole Insurance Company, Ltd.

	Prior to the Separation:

	Creole Insurance Company, Ltd., c/o Babcock & Xxxxxx Holdings, Inc. 000 Xxxx Xxxxxx Xxxxxxxxx, Xxxxxxxx 00000
	Attention:	Director, Risk Management (with copy to General Counsel)
	Telephone:	000-000-0000

	with a copy to:
	XxXxxxxxx International, Inc. 000 X. Xxxxxxxx Xxxxxxx Xxxxxxx, Xxxxx 00000
	Attention:	Director, Risk Management (with copy to General Counsel)


	with an additional copy to:
	Creole Insurance Company, Ltd. Cedar Xxxxx 00 Xxxxx Xxxxxx X.X. Xxx XX 0000 Xxxxxxxx XX XX Xxxxxxx Xxxxxxx
	Fax	(000) 000-0000
	Telephone:	000-000-0000
	Telecopier:	000-000-0000
	Electronic Mail:	xxxxxx@xxxxxxxxx.xxx

	On and After the Separation:

	The Xxxxxxx & Xxxxxx Company The Xxxxxx Building 13024 Ballantyne Corporate Place, Suite 700 Charlotte, North Carolina
	Attention:	Director, Risk Management (with copy to General Counsel)

	with a copy to:
	Creole Insurance Company, Ltd. Cedar Xxxxx 00 Xxxxx Xxxxxx X.X. Xxx XX 0000 Xxxxxxxx XX XX Xxxxxxx Xxxxxxx
	Fax	(000) 000-0000
	Telephone:	000-000-0000
	Telecopier:	000-000-0000
	Electronic Mail:	xxxxxx@xxxxxxxxx.xxx

If to any B&W Entity:	Prior to the Separation:

	Xxxxxxx & Xxxxxx Holdings, Inc. 000 Xxxx Xxxxxx Xxxxxxxxx, Xxxxxxxx 00000
	Attention:	Director, Risk Management (with copy to General Counsel)
	Telephone:	000-000-0000

	with a copy to:
	McDermott International, Inc. 000 X. Xxxxxxxx Xxxxxxx Xxxxxxx, Xxxxx 00000
	Attention:	Director, Risk Management (with copy to General Counsel)

	Telephone:	000-000-0000
	Telecopier:	000-000-0000
	Electronic Mail:	xxxxxx@xxxxxxxxx.xxx

	On and After the Separation:

	The Xxxxxxx & Xxxxxx Company The Xxxxxx Building 13024 Ballantyne Corporate Place, Suite 700 Charlotte, North Carolina
	Attention:	Director, Risk Management (with copy to General Counsel)

Any notice or communication to any Person shall be deemed to be received by that Person:

(A) upon personal delivery; or

(B) upon receipt if sent by mail or courier.

10. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Pennsylvania without regard to those provisions concerning conflicts of laws that would result in the application of the laws of any other jurisdiction.

11. Entire Agreement. THIS AGREEMENT CONSTITUTES THE ENTIRE AGREEMENT AMONG ALL OF THE PARTIES WITH RESPECT TO THE TRANSFERS, ASSUMPTIONS, AND NOVATIONS DESCRIBED HEREIN AND SUPERSEDES ALL OTHER PRIOR AGREEMENTS AND UNDERSTANDINGS, BOTH WRITTEN AND ORAL, WITH RESPECT TO THE SUBJECT MATTER HEREOF. SOLELY FOR INTERPRETATION PURPOSES, THE PARTIES ACKNOWLEDGE THAT THIS AGREEMENT IS INTENDED TO BE READ TOGETHER WITH THE ALAA, AND THE PARTIES FURTHER ACKNOWLEDGE THE CONTROLLING NATURE OF THE ALAA WITH RESPECT TO DISPUTE RESOLUTION, AS SET FORTH IN THE FOLLOWING PARAGRAPH.

12. Dispute Resolution. Any and all disputes arising out of this Agreement shall be resolved in accordance with the procedures set for in the Master Separation Agreement (or, in the event the Master Separation Agreement is not entered into by MII and The Xxxxxxx & Xxxxxx Company, in accordance with the procedures set forth in the draft thereof dated as of April 28, 2010). Issues as to whether a given obligation is an Insured B&W Obligation or an Insured MII Obligation shall be resolved as set forth in the ALAA, which resolution shall be binding for all purposes of this Agreement, notwithstanding (by way of example only) any assertion that the putative Insured B&W Obligation arose under a Wholly Retained Boudin Policy or the putative Insured MII Obligation arose under a Wholly Retained Creole Policy, or any other assertion that the terms of this Agreement prohibit the allocation reached under the ALAA. Any such assertions may be made, to the extent appropriate, in connection with the dispute resolution under the ALAA but may not be made as a basis for challenging such resolution.

13. Severability. If any term or other provision of this Agreement or the Exhibits attached hereto is determined by a nonappealable decision by a court, administrative agency or arbitrator to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the court, administrative agency or arbitrator shall interpret this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the fullest extent possible. If any sentence in this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as is enforceable.

14. Rules of Construction. The definitions of terms used herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified, (b) any reference herein to any law shall be construed as referring to such law as amended, modified, codified or reenacted, in whole or in part, and in effect from time to time, (c) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to the restrictions contained herein), (d) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this

Agreement in its entirety and not to any particular provision hereof, (e) with respect to the determination of any time period, the word “from” means “from and including” and the word “to” means “to and including” and (f) any reference herein to Articles, Sections and Exhibits shall be construed to refer to Articles and Sections of, and Exhibits to, this Agreement. No provision of this Agreement shall be interpreted or construed against any Person solely because such Person or its legal representative drafted such provision.

[Remainder of Page Intentionally Left Blank]

IN WITNESS WHEREOF, the Parties intending to be legally bound hereby have executed this Agreement, by their duly authorized representatives.


XXXXXXXXX INTERNATIONAL, INC.

By:		/S/ XXXXX X. XXXXXXXX
		Xxxxx X. Xxxxxxxx
		Senior Vice President

BOUDIN INSURANCE COMPANY, LTD.

By:		/S/ XXXXX X. XXXXXXXX
		Xxxxx X. Xxxxxxxx
		Assistant Secretary

XXXXXXX & XXXXXX HOLDINGS, INC.

By:		/S/ XXXXXXX X. XXXX
		Xxxxxxx X. Xxxx
		Senior Vice President

CREOLE INSURANCE COMPANY, LTD.

By:		/S/ XXXXXXXX X. XXXX
		Xxxxxxxx X. Xxxx
		Assistant Secretary

Signature Page to Group IV Agreement

ACKNOWLEDGED AND AGREED FOR PURPOSES OF SECTION 2:


B&W ENTITIES:

AMERICON EQUIPMENT SERVICES, INC.

AMERICON, INC.

APPLIED SYNERGISTICS, INC.

XXXXXXX & XXXXXX CANADA LTD.

XXXXXXX & XXXXXX CHINA HOLDINGS, INC.

XXXXXXX & XXXXXX CONSTRUCTION CO., INC.

XXXXXXX & XXXXXX DE MONTERREY, S.A. DE X.X.

XXXXXXX & XXXXXX DENMARK HOLDINGS, INC.

XXXXXXX & XXXXXX EBENSBURG POWER, INC.

XXXXXXX & XXXXXX EQUITY INVESTMENTS, INC.

XXXXXXX & XXXXXX INDIA HOLDINGS, INC.

XXXXXXX & XXXXXX INTERNATIONAL SALES AND SERVICE CORPORATION

XXXXXXX & XXXXXX INTERNATIONAL, INC.

By:		/S/ XXXXXXXX X. XXXX
Name:		Xxxxxxxx X. Xxxx
Title:		Assistant Secretary of each of the above

Signature Page to Group IV Agreement


XXXXXXX & XXXXXX MODULAR NUCLEAR ENERGY LLC

XXXXXXX & XXXXXX NUCLEAR OPERATIONS GROUP, INC.

XXXXXXX & XXXXXX NUCLEAR ENERGY, INC.

XXXXXXX & XXXXXX NUCLEAR SERVICES (U.K.) LIMITED

XXXXXXX & XXXXXX TECHNICAL SERVICES CLINCH RIVER, LLC

XXXXXXX & XXXXXX POWER GENERATION GROUP, INC.

XXXXXXX & XXXXXX TECHNICAL SERVICES GROUP, INC.

XXXXXXX & XXXXXX TECHNICAL SERVICES SAVANNAH RIVER COMPANY

XXXXXXX & XXXXXX VOLUND A/S

BCE PARTS LTD.

BWX TECHNOLOGIES, INC.

BWXT FEDERAL SERVICES, INC.

BWXT HANFORD COMPANY

BWXT OF IDAHO, INC.

BWXT OF OHIO, INC.

BWXT WASHINGTON, INC.

By:		/S/ XXXXXXXX X. XXXX
Name:		Xxxxxxxx X. Xxxx
Title:		Assistant Secretary of each of the above

Signature Page to Group IV Agreement


CREOLE INSURANCE COMPANY, LTD.

DELTA POWER SERVICES, LLC

DIAMOND OPERATING CO., INC.

DIAMOND POWER AUSTRALIA HOLDINGS, INC.

DIAMOND POWER CHINA HOLDINGS, INC.

DIAMOND POWER EQUITY INVESTMENTS, INC.

DIAMOND POWER INTERNATIONAL, INC.

DIAMOND POWER SPECIALTY (PROPRIETARY) LIMITED

DPS BERKELEY, LLC

DPS CADILLAC, LLC

DPS FLORIDA, LLC

DPS XXXXXXX, LLC

DPS XXXXXX XXXXX, LLC

DPS MECKLENBURG, LLC

DPS MICHIGAN, LLC

DPS MOJAVE, LLC

DPS SABINE, LLC

GUMBO INSURANCE COMPANY, LTD.

By:		/S/ XXXXXXXX X. XXXX
Name:		Xxxxxxxx X. Xxxx
Title:		Assistant Secretary of each of the above

Signature Page to Group IV Agreement


INTECH INTERNATIONAL INC.

INTECH, INC.

XXXX-XXXXXX SERVICES, L.L.C.

MARINE MECHANICAL CORPORATION

NFS HOLDINGS, INC.

NOG-XXXXX HOLDINGS, INC.

NORTH COUNTY RECYCLING, INC.

NUCLEAR FUEL SERVICES, INC.

O&M HOLDING COMPANY

SOFCO - EFS HOLDINGS LLC

By:		/S/ XXXXXXXX X. XXXX
Name:		Xxxxxxxx X. Xxxx
Title:		Assistant Secretary of each of the above

XXXXXXX & XXXXXX TECHNICAL SERVICES (U.K.) LIMITED

By:		/S/ XXXXXXXX X. XXXX
Name:		Xxxxxxxx X. Xxxx
Title:		Joint Secretary

Signature Page to Group IV Agreement


B&W DE PANAMA, INC.

XXXXXXX & XXXXXX INTERNATIONAL INVESTMENTS CO., INC.

XXXXXXX & XXXXXX INVESTMENT COMPANY

By:		/S/ XXXXXXX X. XXXX
Name:		Xxxxxxx X. Xxxx
Title:		Senior Vice President, of each of the above

Signature Page to Group IV Agreement


XXXXXXX & XXXXXX INDIA PRIVATE LIMITED

DIAMOND POWER SPECIALTY LIMITED

By:		/S/ XXXXXX X. XXXXXX
Name:		Xxxxxx X. Xxxxxx
Title:		Assistant Secretary

NATIONAL ECOLOGY COMPANY

By:		/S/ XXXXXX X. XXXXXX
Name:		Xxxxxx X. Xxxxxx
Title:		Secretary

DIAMOND POWER DO BRASIL LIMITADA


DIAMOND POWER INTERNATIONAL, INC.

XXXXXXX & XXXXXX INTERNATIONAL SALES AND SERVICE CORPORATION
(as Shareholders of Diamond Power do Brasil Limitada)

By:		/S/ XXXXXX X. XXXXXX
Name:		Xxxxxx X. Xxxxxx
Title:		Assistant Secretary of each of the Shareholders

Signature Page to Group IV Agreement


P. T. XXXXXXX & XXXXXX ASIA

SERVICIOS DE FABRICACION DE XXXXX SOLEADO, S.A. DE C.V.

SERVICOS PROFESIONALES DE XXXXX SOLEADO, S.A. DE C.V.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Secretary

Signature Page to Group IV Agreement


DIAMOND POWER CENTRAL & EASTERN EUROPE S.R.O.

DIAMOND POWER FINLAND OY

By:		/S/ XXXX X. XXXXXXXX
Name:		Xxxx X. Xxxxxxxx
Title:		Managing Director

Signature Page to Group IV Agreement


DIAMOND POWER MACHINE (HUBEI) CO., INC.

By:		/S/ XXXXX X. XXXXX
Name:		Xxxxx X. Xxxxx
Title:		Director

Signature Page to Group IV Agreement


DIAMOND POWER SWEDEN AB

By:		/S/ XXXX X. XXXXXXX
Name:		Xxxx X. Xxxxxxx
Title:		Managing Director

Signature Page to Group IV Agreement

ACKNOWLEDGED AND AGREED FOR PURPOSES OF SECTION 2:


MII ENTITIES:

CHARTERING COMPANY (SINGAPORE) PTE. LTD.

J. XXX XXXXXXXXX (QINGDAO) PTE. LTD.

J. XXX XXXXXXXXX ASIA PACIFIC PTE. LTD.

MALMAC SDN. BHD.

MCDERMOTT (MALAYSIA) SENDIRIAN BERHAD

By:		/S/ XXXX X. XXXXXXXXX
Name:		Xxxx X. Xxxxxxxxx
Title:		Director of each of the above

BOUDIN INSURANCE COMPANY, LTD.

J. XXX XXXXXXXXX EASTERN HEMISPHERE LIMITED

LAGNIAPPE INSURANCE COMPANY, LTD.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Assistant Secretary, of each of the above

Signature Page to Group IV Agreement


J. XXX XXXXXXXXX UK LTD.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Joint Secretary

EASTERN MARINE SERVICES, INC.

GLOBAL ENERGY - MCDERMOTT LIMITED

HYDRO MARINE SERVICES, INC.

J. XXX XXXXXXXXX (CASPIAN), INC.

J. XXX XXXXXXXXX (NIGERIA) LTD.

J. XXX XXXXXXXXX (NORWAY), AS

J. XXX XXXXXXXXX CANADA HOLDING, LTD.

J. XXX XXXXXXXXX CANADA, LTD.

J. XXX XXXXXXXXX CONTRACTORS, INC.

J. XXX XXXXXXXXX DE MEXICO, S.A. DE C.V.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Secretary of each of the above

Signature Page to Group IV Agreement


J. XXX XXXXXXXXX ENGINEERING SERVICES PRIVATE LIMITED

J. XXX XXXXXXXXX ENGINEERING, LLC

J. XXX XXXXXXXXX FAR EAST, INC.

J. XXX XXXXXXXXX INTERNATIONAL, INC.

J. XXX XXXXXXXXX INTERNATIONAL VESSELS, LTD.

J. XXX XXXXXXXXX INVESTMENTS B.V.

J. XXX XXXXXXXXX KAZAKHSTAN LLP

J. XXX XXXXXXXXX LOGISTIC SERVICES PVT. LIMITED

J. XXX XXXXXXXXX MIDDLE EAST, INC.

J. XXX XXXXXXXXX SOLUTIONS, INC.

J. XXX XXXXXXXXX TECHNOLOGY, INC.

J. XXX XXXXXXXXX UNDERWATER SERVICES, INC.

J. XXX XXXXXXXXX WEST AFRICA HOLDINGS, INC.

J. XXX XXXXXXXXX WEST AFRICA, INC.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Secretary of each of the above

Signature Page to Group IV Agreement


MCDERMOTT CASPIAN CONTRACTORS, INC.

MCDERMOTT FAR EAST, INC.

MCDERMOTT GULF OPERATING COMPANY, INC.

XXXXXXXXX INTERNATIONAL B.V.

XXXXXXXXX INTERNATIONAL INVESTMENTS CO., INC.

XXXXXXXXX INTERNATIONAL MARINE INVESTMENTS N.V.

XXXXXXXXX INTERNATIONAL TRADING CO., INC.

XXXXXXXXX INTERNATIONAL VESSELS, INC.

MCDERMOTT MARINE MEXICO, S.A. DE X.X.

XXXXXXXXX OFFSHORE SERVICES COMPANY, INC.

MCDERMOTT OLD JV OFFICE, INC.

MCDERMOTT OVERSEAS INVESTMENT CO. N.V.

MCDERMOTT OVERSEAS, INC.

MCDERMOTT TRADE CORPORATION

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Secretary of each of the above

Signature Page to Group IV Agreement


MENTOR SUBSEA TECHNOLOGY SERVICES, INC.

NORTH ATLANTIC VESSEL, INC.

OFFSHORE PIPELINES INTERNATIONAL, LTD.

OPI VESSELS, INC.

OPMI, LTD.

SABINE RIVER REALTY, INC.

SERVICIOS DE FABRICACION DE ALTAMIRA, S.A. DE C.V.

SERVICOS PROFESIONALES DE ALTAMIRA, S.A. DE C.V.

SPARTEC, INC.

VARSY INTERNATIONAL N.V.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Secretary of each of the above

MCDERMOTT KFT.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Managing Director

Signature Page to Group IV Agreement


J. XXX XXXXXXXXX (AUST.) HOLDING PTY. LIMITED

MCDERMOTT AUSTRALIA PTY. LTD.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Corporate Officer of each of the above

XXXXXXXXX INCORPORATED

MCDERMOTT PANAMA HOLDINGS, S.A.

J. XXX XXXXXXXXX HOLDINGS, LLC

J. XXX XXXXXXXXX, INC.

J. XXX XXXXXXXXX, X.X.

XXXXXXXXX CAYMAN LTD.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		Senior Vice President of each of the above

XXXXXXXXX INTERNATIONAL MARKETING, INC.

By:		/S/ XXXXX X. XXXXXXXX
Name:		Xxxxx X. Xxxxxxxx
Title:		President

Signature Page to Group IV Agreement


FLOATEC, LLC

By:		/S/ XXXXXX X. XXXXXX
Name:		Xxxxxx X. Xxxxxx
Title:		Assistant Secretary

MCDERMOTT HOLDINGS (U.K.) LIMITED

MCDERMOTT MARINE CONSTRUCTION LIMITED

By:		/S/ XXXXXX X. XXXXXX
Name:		Xxxxxx X. Xxxxxx
Title:		Joint Secretary of each of the above

MCDERMOTT SERVICOS DE CONSTRUCAO, LTDA.

J. XXX XXXXXXXXX INC.

MCDERMOTT OVERSEAS, INC.,
(as Shareholders)

By:		/S/ XXXXXX X. XXXXXX
Name:		Xxxxxx X. Xxxxxx
Title:		Assistant Secretary

OFFSHORE PIPELINES SDN. BHD.

OFFSHORE PIPELINES SDN. BLD.
(as Sole Shareholder)

By:		/S/ XXXXXX X. XXXXXX
Name:		Xxxxxx X. Xxxxxx
Title:		Assistant Secretary

Signature Page to Group IV Agreement


INTERNATIONAL VESSELS LTD.

By:		/S/ XXXXXX X. ROLL
Name:		Xxxxxx X. Roll
Title:		Director

Signature Page to Group IV Agreement


PT. BAJA WAHANA INDONESIA

By:		/S/ XXXXX XXXXXXX
Name:		Xxxxx Xxxxxxx
Title:		President Director

Signature Page to Group IV Agreement


SINGAPORE HUANGDAO PTE. LTD.

By:		/S/ XXXXXX X. XXXXXXX
Name:		Xxxxxx X. Xxxxxxx
Title:		Director

Signature Page to Group IV Agreement

EXHIBIT I – B&W ENTITIES

See Schedule 1.1(a) and Schedule 1.1(c) attached hereto. No B&W Entity listed on Schedule

1.1(a) shall be deemed to be an “Insured”, a “Named Insured” or otherwise be deemed to be

insured under any Existing Policy solely by virtue of being listed on such Schedule 1.1(a).

Schedule 1.1(a)

B&W FORMER


Reference ID		Name
333		Ahahsain Xxxxxx Heat Transfer Co. Ltd.
398		Advanced Refractory Technologies, Inc.
		A.M. Xxxxxxx & Co., Limited
		Amcermet Corporation
924		ASEA Babcock
235		Ash Acquisition Company
326		B & W Clarion, Inc.
574		B&W Ebensburg Pa., Inc.
460		B&W Energy Investments, Inc.
383		B&W Fort Worth Power, Inc.
950		B&W Fuel Company
535		B&W Fuel, Inc.
922		B&W Mexicana, S.A. de C.V.
9991		B&W North Branch G.P., Inc.
9990		B&W North Branch L.P., Inc.
537		B&W Nuclear Service Company
960		B&W Nuclear Service Company
536		B&W Nuclear, Inc.
586		B&W Saba, Inc.
591		B&W Service Company
579		B&W SOFC G.P., Inc.
578		B&W SOFC L.P., Inc.
381		B&W Special Projects, Inc.
569		B&W Triso Corporation
		B&W Tubular Products Limited
573		B&W/XXX Xxxxxx Spring, Inc.
212		Xxxxxxx & Xxxxxx Asia Investment Co., Inc.
115		Xxxxxxx & Xxxxxx Asia Limited
533		Xxxxxxx & Xxxxxx Canada Leasing Ltd.
000		Xxxxxxx & Xxxxxx Xxxxxx Ltd.
215		Xxxxxxx & Xxxxxx China Investment Co., Inc.
594		Xxxxxxx & Xxxxxx do Brasil Limitada
528		Xxxxxxx & Xxxxxx do Brasil Participacoes Limitada
206		Xxxxxxx & Xxxxxx Egypt SAE


169		Xxxxxxx & Xxxxxx Fibras Ceramicas Limitada
519		Xxxxxxx & Xxxxxx Finance, Inc.
557		Xxxxxxx & Xxxxxx Foreign Sales Corporation
175		Xxxxxxx & Xxxxxx Gama Kazan Teknolojisi A.S.
552		Xxxxxxx & Xxxxxx General Contracting Company
565		Xxxxxxx & Xxxxxx Government Services Company
395		Xxxxxxx & Xxxxxx HRSG Company
		Xxxxxxx & Xxxxxx Industries, Ltd.
531		Xxxxxxx & Xxxxxx International Sales Corporation
549		Xxxxxxx & Xxxxxx International Sales Corporation
342		Xxxxxxx & Xxxxxx Investment Company
305		Xxxxxxx & Xxxxxx Jonesboro Power, Inc.
2007		Xxxxxxx & Xxxxxx Nevada, LLC
		Xxxxxxx & Xxxxxx Refractories Limited
323		Xxxxxxx & Xxxxxx Salt City Power, Inc.
543		Xxxxxxx & Xxxxxx Services, Inc.
322		Xxxxxxx & Xxxxxx Xxxxx Power, Inc.
314		Xxxxxxx & Xxxxxx Victorville Power, Inc.
727		Xxxxxxx & Xxxxxx Volund France SAS
315		Babcock PFBC, Inc.
559		Babcock Southwest Construction Corporation
945		Xxxxxxx-Xxxxx Boveri Reaktor GmbH
936		Babcock-Ultrapower Jonesboro
937		Babcock-Ultrapower West Enfield
951		Xxxxxx Beijing Controls Co., Ltd.
516		Xxxxxx Controls Australia Pty. Limited
517		Xxxxxx Controls International Sales & Services Company, Inc.
954		Xxxxxx Controls Jordan for Process Controls Services, Ltd.
563		Xxxxxx Controls Sales & Service (Australia) Pty. Limited
564		Xxxxxx Controls Sales & Services Canada Inc.
561		Xxxxxx do Brasil Instrumentos Industriais Limitada
114		Xxxxxx International, Inc.
000		Xxxxxx Xxxxx Company Limited
542		Xxxxxx Meter and Controls Company
		Xxxxxx Meter Company
562		Xxxxxx Meter Co. (Japan) Ltd.
		Xxxxxx Meter Company Limited
		Xxxxxx Meter GmbH


646		Brick Insurance Company, Ltd.
590		BWXT Protec, Inc.
		X.X. Xxxxx & Company Engineers
511		Ceramatec G.P., Inc.
510		Ceramatec SOFC, Inc.
329		Clarion Energy, Inc.
328		Clarion Power Company
321		Conam Nuclear, Inc.
		Control Components France
514		Control Components Italy S.R.L.
		Control Components, Inc. (California)
		Control Components, Inc. (Delaware)
948		Control Components Japan
1914		CTR Solutions, LLC
545		Detroit Xxxxxx & Machine Corporation
551		Diamond Blower Company Limited
		Diamond Canapower Ltd.
518		Diamond Power Importacao e Exportacao Ltda.
144		Diamond Power Korea Inc.
526		Diamond Power Specialty (Japan) Ltd.
558		Diamond Power Specialty (Proprietary) Limited
546		Diamond Power Specialty Corporation (Delaware)
		Diamond Power Speciality Corporation (Ohio)
529		Diamond Power Specialty GmbH
		Xxxxxxxx Tube Xxxxx, Inc.
332		Ebensburg Energy, Inc.
397		Ejendomsaktieselskabet Falkevej2
961		Enserch Environmental Management Company, Inc.
968		EPC Business Trust
919		Especialidades Termomecanicas, S.A. de C.V.
550		Ferry-Diamond Engineering Company Limited
928		Fibras Ceramicas C.A.
509		Fibras Ceramicas, Inc.
547		Globe Steel Tubes Corporation
		Xxxxx Land Co.
		Xxxxxx Insulations Limited
124		Xxxxxx Heat Transfer International, Inc.
1955		Xxxxxx HEI Pty. Ltd.


914		Xxxxxx Northern Industries Inc.
125		Xxxxxx Products Aktiebolag
567		Xxxxxx Products Corporation (1)
902		Xxxxxx Products de Mexico, S.A. de C.V.
1907		Integran Technologies Inc.
461		International Disarmament Corporation
941		Isolite Babcock Refractories Company, Ltd.
927		Isolite Eastern Union Refractories Co., Ltd.
920		KBW Gasification Systems, Inc.
512		LT Produkter i Skutskar AB
938		Maine Power Services
345		McDermott Heat Transfer Company
344		McDermott Productos Industriales de Mexico, S.A. de C.V.
946		Medidores Xxxxxx, X.X. de C.V.
942		Morganite Ceramic Fibres Limited
943		Morganite Ceramic Fibres Pty. Limited
944		Morganite Ceramic Fibres S. A.
		National Drill & Manufacturing Co.
544		National Ecology (Alabama) Incorporated
575		National Ecology (Utah) Incorporated
976		Nooter/Xxxxxxx - Xxxxxxx & Xxxxxx, L.L.C.
933		North American CWF Partnership
9989		North Branch Power Company L.P.
971		North County Operations Associates
		Nuclear Materials and Equipment Corporation
958		Xxxx Pantex Inc.
1153		P. T. Heat Exchangers Indonesia
934		Palm Beach Energy Associates
		Piedmont Tool Machine Company
576		Power Computing Company
581		Power Systems Sunnyside Operations GP, Inc.
583		Power Systems Sunnyside Operations LP, Inc.

		(1) a Delaware Corporation
905		PowerSafety International, Inc.
508		Productos de Caolin, Inc.
577		PSO Caribbean, Inc.
1980		Savannah River Alliance LLC


2008		Savannah River Tactical Services LLC
984		SOFCo L.P.
000		Xxxxx Xxxxx XXX
000		Xxxxxxx Construction Co., Inc.
988		Sunnyside Cogeneration Associates
582		Sunnyside II, Inc.
000		Xxxxxxxxx XX, X.X
000		Xxxxxxxxx III, Inc.
993		Sunnyside Operations Associates L.P.
571		Termobloc Industria E Comercio Ltda.
953		Thermax Xxxxxxx & Xxxxxx Limited
502		TLT-Babcock, Inc.
570		Triso
0000		X.X. Xxxxx Xxxxxx Xxx. Ltd.
548		W. F. and Xxxx Xxxxxx Company

Schedule 1.1(c)

B&W CURRENT


Reference ID	Name
553	Americon Equipment Services, Inc.
554	Americon, Inc.
732	Applied Synergistics, Inc.
127	B&W de Panama, Inc.
000	Xxxxxxx & Xxxxxx Xxxxxx Ltd.
1570	Xxxxxxx & Xxxxxx China Holdings, Inc.
555	Xxxxxxx & Xxxxxx Construction Co., Inc.
2011	Xxxxxxx & Xxxxxx de Monterrey, S.A. de C.V.
1571	Xxxxxxx & Xxxxxx Denmark Holdings, Inc.
327	Xxxxxxx & Xxxxxx Ebensburg Power, Inc.
302	Xxxxxxx & Xxxxxx Equity Investments, Inc.
1965	Xxxxxxx & Xxxxxx Holdings, Inc.
2028	Xxxxxxx & Xxxxxx India Holdings, Inc.
598	Xxxxxxx & Xxxxxx India Private Limited
126	Xxxxxxx & Xxxxxx International Investments Co., Inc.
530	Xxxxxxx & Xxxxxx International Sales and Service Corporation
541	Xxxxxxx & Xxxxxx International, Inc.
380	Xxxxxxx & Xxxxxx Investment Company
2010	Xxxxxxx & Xxxxxx Modular Nuclear Energy LLC
1974	Xxxxxxx & Xxxxxx Nuclear Operations Group, Inc.
1967	Xxxxxxx & Xxxxxx Nuclear Energy, Inc.	(formerly Xxxxxxx & Xxxxxx Nuclear Power Generation Group, Inc.
2018	Xxxxxxx & Xxxxxx Nuclear Services (U.K.) Limited
500	Xxxxxxx & Xxxxxx Power Generation Group, Inc.
1961	Xxxxxxx & Xxxxxx Technical Services (U.K.) Limited
1970	Xxxxxxx & Xxxxxx Technical Services Clinch River, LLC
572	Xxxxxxx & Xxxxxx Technical Services Group, Inc.	(formerly BWXT Services, Inc.)
587	Xxxxxxx & Xxxxxx Technical Services Savannah River Company	(formerly BWXT Savannah River Company)
599	Xxxxxxx & Xxxxxx Volund A/S	(formerly Xxxxxxx & Xxxxxx Volund ApS)
2000	BCE Parts Ltd.
596	BWX Technologies, Inc.
580	BWXT Federal Services, Inc.
589	BWXT Hanford Company
382	BWXT of Idaho, Inc.
592	BWXT of Ohio, Inc.


1576	BWXT Washington, Inc.
189	Creole Insurance Company, Ltd.
1988	Delta Power Services, LLC
766	Diamond Operating Co., Inc.
1572	Diamond Power Australia Holdings, Inc.
1984	Diamond Power Central & Eastern Europe s.r.o.
1573	Diamond Power China Holdings, Inc.
521	Diamond Power do Brasil Limitada
1574	Diamond Power Equity Investments, Inc.
525	Diamond Power Finland OY
504	Diamond Power Germany GmbH	(formerly Diamond Power - Xxxxx GmbH)
597	Diamond Power International, Inc.
949	Diamond Power Machine (Hubei) Co., Inc.
1908	Diamond Power Services S.E.A. Ltd.
522	Diamond Power Specialty (Proprietary) Limited
523	Diamond Power Specialty Limited
524	Diamond Power Sweden AB
1990	DPS Berkeley, LLC
1997	DPS Cadillac, LLC
1995	DPS Florida, LLC
1993	DPS Xxxxxxx, LLC
0000	XXX Xxxxxx Xxxxx, LLC
1992	DPS Mecklenburg, LLC
1991	DPS Michigan, LLC
1994	DPS Mojave, LLC
1998	DPS Sabine, LLC
278	Gumbo Insurance Company, Ltd.
2003	Intech International Inc.
2002	Intech, Inc.
2001	Xxxx-Xxxxxx Services, L.L.C.
1968	Marine Mechanical Corporation
540	National Ecology Company
2005	NFS Holdings, Inc.
0000	XXX-Xxxxx Xxxxxxxx, Xxx.
000	Xxxxx Xxxxxx Recycling, Inc.
2006	Nuclear Fuel Services, Inc.
1989	O&M Holding Company
707	P. T. Xxxxxxx & Xxxxxx Asia


534		Palm Beach Resource Recovery Corporation
560		Power Systems Operations, Inc.
568		Revloc Reclamation Service, Inc.
2013		Servicios de Fabricacion de Xxxxx Soleado, S.A. de C.V.
2012		Servicios Profesionales de Xxxxx Soleado, S.A. de C.V.
767		SOFCo - EFS Holdings LLC
2029		The Xxxxxxx & Xxxxxx Company

EXHIBIT II – MII ENTITIES

See Schedule 1.1(b) and Schedule 1.1(j) attached hereto. No MII Entity listed on Schedule 1.1(b) shall be deemed to be an “Insured”, a “Named Insured” or otherwise be deemed to be insured under any Existing Policy solely by virtue of being listed on such Schedule 1.1(b).

Schedule 1.1(b)

MII FORMER


Reference ID
947	Arabian General Contracting Company
911	Arabian Petroleum Marine Construction Company
8000	Associated Pipe Line Contractors, Inc.
117	Badya Builders, Inc.
242	Xxxxxx-xx Xxxxxxxxxxxxxxxxxxxxxx Xxxxxx X.X.
0000	XXX-Xxxxxx Production Systems Limited
164	Xxxxx & Root McDermott Fabricators Limited
277	Cayenne Insurance Company, Ltd.
629	CCC Fabricaciones y Construcciones S.A. de C.V.
940	Construcciones Maritimas Mexicanas, S.A. de C.V.
952	Xxxx XxXxxxxxx Limited
921	DB/McDermott Company
1952	Deep Gulf Contractors LLC
171	Deep Sea Divers Australia Pty. Limited
	Xxxx Xxxxx, Inc.
997	ETPM International (UK) Limited
955	ETPM International S.A.S.
999	Far East Vessels, Inc.
108	First Emirates Trading Corporation
	Xxxxxx Lumber & Supply Company
174	Heavy Lift Chartering, Inc.
935	HeereMac v.o.f.
956	Xxxxxxx-XxXxxxxxx (Aust.) Pty. Ltd.
190	Honore Insurance Company, Ltd.
917	Initec, Astano y XxXxxxxxx International Inc., S.A.
	Ingenieria Petrolera Maritima, S.A. de C.V.
	Iranian Marine Contractors, Inc.
102	J. Xxx XxXxxxxxx & Co. (Nederland) B.V.
150	J. Xxx XxXxxxxxx (Aust.) Pty. Ltd.
151	J. Xxx XxXxxxxxx (U.K.) Inc.
350	J. Xxx XxXxxxxxx (Venezuela) C.A.
325	J. Xxx XxXxxxxxx Arctic Ltd.
307	J. Xxx XxXxxxxxx Gulf Contractors, Inc.	(formerly the Early Company)


394		J. Xxx XxXxxxxxx International Services (No. 1) Limited
101		J. Xxx XxXxxxxxx International Services Limited
152		J. Xxx XxXxxxxxx London, Ltd.
641		J. Xxx XxXxxxxxx Marine Construction AS
1125		J. Xxx XxXxxxxxx Newfoundland, Ltd.
871		J. Xxx XxXxxxxxx Offshore Chartering (U.S.), Inc.
372		J. Xxx XxXxxxxxx Properties, Inc.
238		J. Xxx XxXxxxxxx Underwater Services, Inc.
603		J. Xxx XxXxxxxxx Venture Holdings (U.S.), Inc.
153		Jaramac Associated Services, Ltd.
		Jaramac Petroleum (U.K.) Limited
		Khafji Contractors, Inc.
166		Khor Contractors, Inc.
903		KME a.s.
324		Lan-Xxxxxxx, X.X. de C.V.
202		Madock Shipyard Company, Ltd.
203		Macshelf Marine Construction Company, Ltd.
106		Xxxxxxx Pty. Limited
360		Marine Contractors, Inc.
146		McAntille, N.V.
168		McDermott - ETPM V.O.F.
000		XxXxxxxxx (Xxxxxxx) X.X.
000		XxXxxxxxx (Xxxxxxx) Limited
245		McDermott Acquisition Company, Inc.
000		XxXxxxxxx XXX Services Limited
352		McDermott Azerbaijan Pipelines, Inc.
000		XxXxxxxxx Xxxxxxxxxx, Inc.
000		XxXxxxxxx Xxxxxxx & Xxxxxxx Xxxxxx, Inc.
		McDermott de Mexico, S.A. de C.V.
000		XxXxxxxxx Xxxxxxx ApS
464		McDermott Energy Services, Inc.
178		McDermott Engineering (Europe) Limited
		McDermott Enterprises France, S.A.
128		McDermott Europe Marine Services, Ltd.
313		McDermott Industries, Inc.
354		McDermott Inland Services, Inc.
201		XxXxxxxxx International Asset Management, Ltd.
343		XxXxxxxxx International Aviation, Inc.


346	XxXxxxxxx International Aviation, Inc.	(formerly XxXxxxxxx International Aviation Co., Inc.)
	XxXxxxxxx International (Deutschland) GmbH
237	XxXxxxxxx International Engineering & Construction Co., Ltd.
139	XxXxxxxxx International Engineering Investments N.V.
121	XxXxxxxxx International General Services, Inc.
123	XxXxxxxxx International Marine Services, Inc.
236	XxXxxxxxx International Marketing, Inc.
143	XxXxxxxxx Marine UK Limited
462	McDermott Marketing Services, Inc.
000	XxXxxxxxx Xxxxxx Xxxx Trading, Ltd.
172	McDermott Neutral Zone, Inc.
	McDermott Norway, Inc.
	McDermott Petroleum (Iran), Inc.
105	McDermott Sakhalin, Inc.
000	XxXxxxxxx Xxxxxxxxxxxx, Inc.
000	XxXxxxxxx Xxxxxxxxx Pte. Ltd.
221	McDermott Submarine Cable Ltd.
1951	McDermott Submarine Cable Systems Limited
205	McDermott Subsea Constructors Limited
110	McDermott Transition Co., Inc.
	McDermott UAR, Inc.
000	XxXxxxxxx Xxxx Indies Company
000	XxXxxxxxx-XXXX (Xxxxxx), Inc.
998	McDermott-ETPM (UK) Limited
963	McDermott-ETPM B.V.
161	McDermott-ETPM East B.V.
167	McDermott-ETPM East N.V.
964	McDermott-ETPM N.V.
965	McDermott-ETPM S.A.
962	McDermott-ETPM West, Inc.
104	Menck GmbH
463	Mentor Engineering Consultants Limited
131	MIMCO, Inc.
908	MMC-McDermott Engineering Sdn. Berhad
317	Mofco N.V.
129	NOLA, Servicos E Participacoes Ltda.
141	Northern Marine Services, Inc.
107	Oceanic Red Sea Company


620		Offshore Angola, Ltd.
632		Offshore Energy Capital Corporation
622		Offshore Hyundai International Limited
630		Offshore Hyundai International, Ltd.
210		Offshore Marine Chartering N.V.
610		Offshore Petroleum Divers, Inc.
614		Offshore Pipelines (Mauritius) Ltd.
000		Xxxxxxxx Xxxxxxxxx Xxx Xxxx Limited
617		Offshore Pipelines International Gulf E.C.
633		Offshore Power Generation Ltd.
635		Offshore Production Vessels, Ltd.
615		OPI Offshore Netherlands Holding B.V.
611		OPI Sales & Service Corporation
628		OPI Towing & Supply, L.L.C.
624		OPMI, E.C.
613		P. T. Xxxxxxx Pranaupaya
850		Panama Offshore Chartering Company 1, Inc.
859		Panama Offshore Chartering Company 10, Inc.
860		Panama Offshore Chartering Company 11, Inc.
861		Panama Offshore Chartering Company 12, Inc.
862		Panama Offshore Chartering Company 13, Inc.
863		Panama Offshore Chartering Company 14, Inc.
864		Panama Offshore Chartering Company 15, Inc.
865		Panama Offshore Chartering Company 16, Inc.
866		Panama Offshore Chartering Company 17, Inc.
867		Panama Offshore Chartering Company 18, Inc.
868		Panama Offshore Chartering Company 19, Inc.
851		Panama Offshore Chartering Company 2, Inc.
869		Panama Offshore Chartering Company 20, Inc.
870		Panama Offshore Chartering Company 21, Inc.
852		Panama Offshore Chartering Company 3, Inc.
853		Panama Offshore Chartering Company 4, Inc.
854		Panama Offshore Chartering Company 5, Inc.
855		Panama Offshore Chartering Company 6, Inc.
856		Panama Offshore Chartering Company 7, Inc.
857		Panama Offshore Chartering Company 8, Inc.
858		Panama Offshore Chartering Company 9, Inc.
154		Panama Offshore Chartering Company, Inc.


990		Personal Administrativo de Vera Xxxx, X.X. de C.V.
991		Personal Ejecutivo de Veracruz, S.A. de C.V.
645		Pirogue Insurance Company, Ltd.
981		Sakhalin Energy Investment Company, Ltd.
384		Samburg Holdings, Inc.
109		Sharman, Allen, Gay & Xxxxxx, X.X.
989		Tallares Navales del Golfo, S.A. de C.V.
		The Xxxxxx Xxx Company
		The Xxxxx Xxxxxx Company
		The Xxxxxxx X. Company
		The Xxxxxx X. Company
634		TL Marine Sdn. Bhd.
621		TL Offshore Sdn. Bhd.
926		Topside Contractors of Newfoundland
925		Topside Contractors of Newfoundland, Ltd.
000		X.X. Xxxxxxxx Chartering
918		Universal Fabricators Incorporated
980		US Shipbuilding Corporation, Inc.
318		Xxxxxx, Inc.

Schedule 1.1(j)

MII - CURRENT


CURRENT Reference ID	Name
873	Barmada McDermott (L) Limited
0000	Xxxxxxx XxXxxxxxx Xxx. Bhd.
276	Boudin Insurance Company, Ltd.
939	Caspian Offshore Fabricators LLC
116	Chartering Company (Singapore) Pte. Ltd.
142	Eastern Marine Services, Inc.
249	Global Energy - McDermott Limited
140	Hydro Marine Services, Inc.
649	International Vessels Ltd.
148	J. Xxx XxXxxxxxx (Aust.) Holding Pty. Limited
1982	J. Xxx XxXxxxxxx (Caspian), Inc.	(formerly J. Xxx XxXxxxxxx Diving International, Inc.)
243	J. Xxx XxXxxxxxx (Nigeria) Ltd.
2025	J. Xxx XxXxxxxxx (Norway), AS
1237	J. Xxx XxXxxxxxx (Qingdao) Pte. Ltd.
194	J. Xxx XxXxxxxxx Asia Pacific Pte. Ltd.	(formerly McDermott South East Asia Pte. Ltd.)
1972	J. Xxx XxXxxxxxx Canada Holding, Ltd.
1969	J. Xxx XxXxxxxxx Canada, Ltd.
204	J. Xxx XxXxxxxxx Contractors, Inc.
246	J. Xxx XxXxxxxxx de Mexico, S.A. de C.V.
208	J. Xxx XxXxxxxxx Eastern Hemisphere Limited	(formerly X. Xxx Middle East (Indian Ocean) Ltd.)
1956	J. Xxx XxXxxxxxx Engineering Services Private Limited
1950	J. Xxx XxXxxxxxx Engineering, LLC
220	J. Xxx XxXxxxxxx Far East, Inc.
211	J. Xxx XxXxxxxxx Holdings, LLC	(formerly J. Xxx XxXxxxxxx Holdings, Inc.)
627	J. Xxx XxXxxxxxx International Vessels, Ltd.	(formerly OPI International, Ltd.)
602	J. Xxx XxXxxxxxx International, Inc.
160	J. Xxx XxXxxxxxx Investments B.V.	(formerly Menck B.V.)
1958	J. Xxx XxXxxxxxx Kazakhstan Limited Liability Partnership
1975	J. Xxx XxXxxxxxx Logistic Services Pvt. Limited
136	J. Xxx XxXxxxxxx Middle East, Inc.
239	J. Xxx XxXxxxxxx Solutions, Inc.	(formerly J. Xxx XxXxxxxxx Engineering Holdings, Inc.)
625	J. Xxx XxXxxxxxx Technology, Inc.
1957	J. Xxx XxXxxxxxx UK Ltd.
1960	J. Xxx XxXxxxxxx Underwater Services, Inc.


248	J. Xxx XxXxxxxxx West Africa Holdings, Inc.
244	J. Xxx XxXxxxxxx West Africa, Inc.
601	J. Xxx XxXxxxxxx, Inc.
207	J. Xxx XxXxxxxxx, S.A.
644	Lagniappe Insurance Company, Ltd.
000	Xxxxxx Xxx. Xxx.
000	XxXxxxxxx (Xxxxxxxx) Sendirian Berhad
000	XxXxxxxxx Xxx Xxxxx Offshore Construction Company
000	XxXxxxxxx Xxxxxx Company Limited
149	McDermott Australia Pty. Ltd.	(formerly McDermott Industries (Aust.) Pty. Limited)
000	XxXxxxxxx Xxxxxxxxxx Marine Construction, Inc.
241	McDermott Caspian Contractors, Inc.
275	McDermott Cayman Ltd.
000	XxXxxxxxx Xxx Xxxx, Inc.
133	McDermott Gulf Operating Company, Inc.
177	McDermott Holdings (U.K.) Limited
300	XxXxxxxxx Incorporated
147	XxXxxxxxx International B.V.
120	XxXxxxxxx International Investments Co., Inc.
119	XxXxxxxxx International Marine Investments N.V.
213	XxXxxxxxx International Marketing, Inc.	(formerly XxXxxxxxx International Beijing, Inc.)
130	XxXxxxxxx International Trading Co., Inc.
1971	XxXxxxxxx International Vessels, Inc.
100	XxXxxxxxx International, Inc.
1962	McDermott Kft.
349	McDermott Marine Construction Limited
1986	McDermott Marine Mexico, S.A. de C.V.
135	XxXxxxxxx Offshore Services Company, Inc.
176	McDermott Old JV Office, Inc.
162	McDermott Overseas Investment Co. N.V.
390	McDermott Overseas, Inc.
0000	XxXxxxxxx Xxxxxx Holdings, S.A.
170	McDermott Servicos de Construcao, Ltda.
320	McDermott Trade Corporation
306	Mentor Subsea Technology Services, Inc.
000	Xxxxx Xxxxxxxx Vessel, Inc.
2021	North Ocean II AS
2023	North Ocean II KS


2022	North Ocean V AS
612	Offshore Pipelines International, Ltd.
000	Xxxxxxxx Xxxxxxxxx Xxxxxxx Limited
000	Xxxxxxxx Xxxxxxxxx Xxx. Bhd.
626	OPI Vessels, Inc.
623	OPMI, Ltd.
185	P. T. Bataves Fabricators
180	P. T. McDermott Indonesia
901	PT. Baja Wahana Indonesia	(formerly P.T. Xxxxxxx & Xxxxxx Indonesia)
643	PT. J. Xxx XxXxxxxxx Indonesia	(formerly PT. Xxx Xxx)
636	Sabine River Realty, Inc.
1977	Servicios de Fabricacion de Altamira, S.A. de C.V.
1976	Servicos Profesionales de Altamira, S.A. de C.V.
2019	Singapore Huangdao Pte. Ltd.
640	SparTEC, Inc.	(formerly J. Xxx XxXxxxxxx Spars, Inc.)
145	Varsy International N.V.

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NOVATION AND ASSUMPTION AGREEMENT by and among MCDERMOTT INTERNATIONAL, INC., a Panamanian corporation, and BABCOCK & WILCOX HOLDINGS, INC., a corporation organized and existing under the laws of the State of Delaware, and BOUDIN INSURANCE COMPANY,...

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