**POLICY NO:** 8550600

**END:** 11
**PAGE:** 5

**Named Insured**

This endorsement is issued by that company named below which is the insurer under the policy designated above issued to the Named Insured and forms a part of said policy as of the effective date hereof, at the hour stated in the policy Declarations.

THE RECOVERY OF ANY SUCH AMOUNT SHALL BE APPORTIONED BETWEEN THE INTERESTS CONCERNED (INCLUDING THE INSURED) IN THE RATIO OF THEIR RESPECTIVE RECOVERIES AS FINALLY SETTLED. IF THERE SHOULD BE NO RECOVERY IN PROCEEDINGS INSTITUTED SOLELY ON THE INITIATIVE OF THE COMPANY, THE EXPENSES THEREOF SHALL BE BORNE BY THE COMPANY.

**CANCELLATION:**
(14) IT IS AGREED THAT NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THE POLICY, IF THE COMPANY ELECTS TO CANCEL THIS POLICY, THE COMPANY WILL MAIL TO THE NAMED INSURED AT THE ADDRESS SHOWN IN THE POLICY, WRITTEN NOTICE STATING WHEN, NOT LESS THAN THIRTY (30) DAYS THEREAFTER, SUCH CANCELLATION SHALL BE EFFECTIVE.

**SPORTS ACTIVITIES:**
(15) SUCH INSURANCE AS IS AFFORDED BY THE POLICY APPLIES WITHOUT ADDITIONAL PREMIUM CHARGE WITH RESPECT TO THE PARTICIPATION OF THE INSURED'S EMPLOYEES IN ATHLETIC ACTIVITIES, SPORTS OR SOCIAL EVENTS UNDER THE SPONSORSHIP, SUPERVISION OR CONTROL OF THE INSURED, UNDER THE INSURED'S NAME AND WITH THE INSURED'S CONSENT WHEREVER SUCH ACTIVITIES MAY TAKE PLACE.

**ZURICH INSURANCE COMPANY**
**AMERICAN GUARANTEE AND LIABILITY INSURANCE COMPANY**

**[Signatures]**