any obligation of the insured under a workers' compensation, disability benefits or unemployment compensation law or any similar law;

any termination of employment;

any failure of stock to perform as represented by you;

any advice given by you to your "employees" to participate or not to participate in stock subscription plans; or

any actual or alleged error or omission or breach of duty, committed or alleged to have been committed by a trustee, in the discharge of fiduciary duties, obligations or responsibilities imposed by the Federal Employee Retirement Income Security Act of 1974 or Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985 (Public Law 99-272) or Section 9319 of the Omnibus Budget Reconciliation Act of 1986 (Public Law 99-509) or any amendments to these Acts.

**LIMITS OF INSURANCE**

The Limits of Insurance shown in the Schedule of this endorsement and the rules below, fix the most we will pay regardless of the number of:

* Insureds;
* Claims made or "suits" brought; or
* Persons or organizations making claims or bringing "suits".

The Aggregate Limit is the most we will pay for the sum of all damages under this endorsement.

The Each Claim Limit is the most we will pay for damages arising out of any one claim or "suit".

The Limits of Insurance apply separately to each consecutive annual period and to any remaining period of less than 12 months, starting with the beginning of the policy period shown in the Declarations, unless the policy period is extended after issuance for an additional period of less than 12 months. In that case, the additional period will be deemed part of the last preceding period for purposes of determining the Limits of Insurance.

**DEDUCTIBLE**

A Deductible in the amount in the Schedule of this endorsement applies to each claim covered by this endorsement. We will subtract this amount from the amount of damages payable for each claim.

**ADDITIONAL DEFINITIONS**

The following additional definitions are added to Section V – Definitions:

* "Employee benefits" means group life insurance, group accident or health insurance, profit sharing plans, pension plans, "employee" stock subscription plans, "employee" travel, vacation, or savings plans, workers compensation, unemployment insurance, social security and disability benefits insurance, and any other similar benefit program.
* "Administration" means any of the following acts that you do or authorize a person to do:
    * Counseling "employees", other than giving legal advice, on "employee benefits" programs;
    * Interpreting your "employee benefits" programs;
    * Handling records for your "employee benefits" programs; and
    * Effecting enrollment, termination or cancellation of "employees" under your "employee benefits" programs.
* "Administration" does not include:
    * The failure of performance of any contract by any insurer;
    * The failure of any investment plan to perform as represented by an insured;
    * The inability of "employee benefit" programs to meet their obligation due to insolvency.

LD-9863a
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