Exhibit 10.26.1



                                INSURANCE BINDER

This binder is a temporary insurance  contract,  subject to the conditions shown
on the reverse side of this form.

Producer:
Smith Bell & Thompson, Inc.
P.O. Box 730
102 S. Winooski Ave.
Burlington, VT 05402-0730

Company:                   Federal Insurance Co.
Date Effective:            2/24/97
Time:                      12:01 AM

Date Expiration:           2/24/98
Time:                      12:01 AM


Description of Operations:          Manufacturer of Premium Ice Cream and Frozen
                                    Yogurt

Insured:                   Ben & Jerry's Homemade, Inc.
                           30 Community Drive
                           South Burlington, VT 05403-6828

This binder is issued to extend coverage in the above named Company per expiring
policy No.: 8121-24-97F

Coverages:
Executive Liability & Defense Coverage:   $7,500,000;       $500,000 Ded./Org.
Fiduciary liability & Defense Coverage:   $1,000,000;       Nil Deductible
Commercial Crime Coverage:                $  500,000;       $ 10,000 Deductible
Kidnap/Ransom & Extortion Coverage:       $1,000,000;       Nil Deductible
75%/100% Securities Entity Coverage




<PAGE>




                                   CONDITIONS

This Company binds the kinds of insurance  stipulated on the preceding page. The
Insurance is subject to the terms, conditions and limitations of the policies in
current use by the Company.

This binder may be  cancelled  by the Insured by  surrender of this binder or by
written notice to the Company stating when cancellation will be effective.  This
binder may be  cancelled  by the Company by notice to the Insured in  accordance
with the policy  conditions.  This binder is cancelled when replace by a policy.
If this binder is not replaced by a policy,  the Company is entitled to charge a
premium for the binder according to the Rules and Rates in use by the Company.


                            APPLICABLE IN CALIFORNIA

When this form is used to provide insurance in the amount of one million dollars
($1,000,000) or more, the title of the form is changed from  "Insurance  Binder"
to "Cover Note".

                             APPLICABLE IN DELAWARE

The  mortgage  of  Obligee of any  mortgage  or other  instrument  given for the
purpose  of  creating  a lien on real  property  shall  accept  as  evidence  of
insurance a written  binder issued by an authorized  insurer or its agent if the
binder includes or is accompanied by: the name and address of the borrower;  the
name and address of the lender as loss payee;  a description of the insured real
property; a provision that the binder may not be canceled within the term of the
binder unless the lender and the insured  borrower receive written notice of the
cancellation  at least ten (10) days  prior to the  cancellation;  except in the
case of a renewal of a policy  subsequent  to the  closing  of the loan,  a paid
receipt  of the  full  amount  of the  applicable  premium,  and the  amount  of
insurance coverage.

                       Chapter 21 Title 25 Paragraph 2119


                              APPLICABLE IN NEVADA

Any person who refuses to accept a binder which  provides  coverage of less than
$1,000,000.00 when proof is required:  (a) Shall be fined not more than $500.00,
and (B) is liable to the party  presenting  the binder as proof of insurance for
actual damages sustained therefrom.