# EXCLUSIONS

The insurance afforded by this endorsement does not apply:
(a) To any dishonest, fraudulent, criminal or malicious act, libel, slander, discrimination or humiliation;
(b) To bodily injury to, or sickness, disease or death of any person, or to injury to or destruction of any tangible property, including the loss of use thereof;
(c) To any claim for failure of performance of contract by any Insurer;
(d) To any claim based upon the Named Insured's failure to comply with any law concerning workmen's compensation, unemployment insurance, social security or disability benefits;
(e) To any claim base upon failure of stock to perform as represented by any Insured;
(f) To any claim based upon advice given by an Insured to participate or not to participate in stock subscription plans;
(g) To any liability imposed upon fiduciary, administrator, or other party in interest as defined in the Employee Retirement Income Security Act of 1974 (PL53-406), as now or hereafter amended as respects any Employee Benefit plan.

The conditions of the policy entitled "Assistance and Co-operation of the Insured", "Action Against Company", "Other Insurance", "Subrogation", "Changes, Assignment", "Cancellation" apply to the insurance afforded hereby and the following Conditions apply:

A. LIMITS OF LIABILITY: The Limit of Liability stated above as applicable to "each claim" is the limit of the Company's liability for all damages incurred on account of any claim covered hereunder the limit of liability stated above as "aggregate" is subject to the above provision respecting each claim, the total limit of the Company's liability for all claims covered hereunder and occurring during each annual endorsement period. The inclusion herein of more than one Insured shall not operate to increase the limits of the Company's liability.

B. PREMIUM: The premium Stated above is an estimated premium only. The termination of each annual period covered by this endorsement, the Insured, on request, will furnish the Company a statement of the total number of employees at the end of the period and the earned premium shall be computed at the rates set forth above, on the basis of one-half of the sum of the total number of employees at the inception of the period and the total number of employees at the end of the period. If the earned premium thus computed exceeds the estimated advance premium paid, the Insured shall pay the excess to the Company; if less, the Company shall return to the Insured the unearned portion paid by such Insured subject to the Minimum premium for this insurance stated above.

C. NOTICE OF CLAIM OR SUIT: Irrespective of the application of the deductible amount, written notice of any claim or alleged negligent act, error or omission shall be given by or on behalf of the Insured to the Company. If suit is brought, the Insured shall immediately forward to the Company every summons or other process received by him.

This endorsement forms a part of the policy to which attached, effective on the inception date of the policy, unless otherwise stated herein.