# Policy Form Substitution Endorsement

## End. 145-1/96
## Form 005
## ADDITIONAL/RETURN PREMIUM: $N

### POLICY FORM SUBSTITUTION ENDORSEMENT

1. It is hereby agreed that with effect from the effective date listed below ("Effective Date") the new policy issued herewith and described below ("New Policy") shall substitute for the old policy described below ("Old Policy").
2. All occurrences for which a notice of occurrence or claim was given prior to the Effective Date shall be governed by the aggregate limit, the per occurrence limit, the per occurrence retention and terms, conditions and exclusions of coverage under the Old Policy as in effect at the time notice of such occurrence was first given pursuant to Section (d) of Article V of the Old Policy.
3. All Occurrences for which notice of Occurrence is first given pursuant to Article V of the New Policy at or subsequent to the Effective Date shall be governed by the aggregate limit, the per Occurrence limit, the per Occurrence retention and terms and conditions and exclusions of coverage under the New Policy as in effect at the time of such notice; provided, however, that Section II.B shall only apply as respects Occurrences of which notice is first given subsequent to the Effective Date. The Inception Date under the New Policy shall be as provided therein, except as provided in paragraphs 6 and 7 below.
4. Notwithstanding anything herein or in the Old Policy or the New Policy to the contrary, for no occurrence/Occurrence shall there be coverage under both the Old Policy and the New Policy. Without limiting the foregoing, if notice of any occurrence was given under the Old Policy prior to the Effective Date, no Notice of Integrated Occurrence may be given subsequent to the Effective Date if such Integrated Occurrence would encompass Personal Injury, Property Damage or Advertising Liability included within such previously noticed occurrence.
5. In consideration of the substitution provided for hereunder, it is a condition precedent to the rights of any Insured under the New Policy with respect to any Occurrence or Ultimate Net Loss which is covered under the New Policy but would not have been covered under the Old Policy had notice of such occurrence been given immediately prior to the Effective Date that, except as specifically agreed to in writing by the Insurer and the Named Insured, no Insured was aware of such Occurrence at the Effective Date. The Insured shall be deemed to have been aware of an occurrence if any Executive Officer was aware of any Personal Injury, Property Damage or Advertising Liability included therein, irrespective of whether or not such person was aware that such occurrence was likely to involve this Policy.
6. The Inception Date as respects any layer of coverage attributable to the incremental amount of any increase in any limit and/or the decremental amount of any decrease in any retention as of the Effective Date shall be the Effective Date.

**The effective date of this Endorsement is:**

All other terms and conditions remain unchanged.

This Endorsement is attached to and made a part of Policy No.: 

of A.C.E. INSURANCE COMPANY, LTD.

Issued to:

Date of Issue:

By
Authorized Representative

End No. 1 cont'd