# WHO IS AN INSURED AMENDMENT

(2) Coverage B does not apply to "personal and advertising injury" arising out of an offense committed before you acquired or formed the organization.

b. The expected annual revenues of such organization are equal to or greater than $5,000,000,000 or the operations of such organization are not consistent with the operations of the Named Insured and there is no other similar insurance available to that organization. However:

(1) Coverage under this provision is afforded only until the 90th day after you acquire or form the organization or the end of the policy period, whichever is earlier;

(2) Coverage A does not apply to "bodily injury" or "property damage" that occurred before you acquired or formed the organization; and

(3) Coverage B does not apply to "personal and advertising injury" arising out of an offense committed before you acquired or formed the organization.

A "joint venture" in which you have an ownership interest is an insured but only for your liability arising out of such "joint venture". However, where any Named Insured has 50.1% interest or greater or majority management control or where any Named Insured is obligated by contract or agreement to provide insurance to any "joint venture" such as is afforded by this policy; such entity and its members and partners as applicable, are insureds but only with respect to the conduct of such entity.

"Joint venture" means an association by contract in which you join together with one or more other entities with ownership interest in the venture (member/owners) to accomplish mutually a specific project or group of projects. A "joint venture" may take the form of a "joint venture", limited liability company, or partnership.