**Endorsement #2**

**IN CONSIDERATION OF THE PREMIUM CHARGED, IT IS AGREED THAT THE INSURANCE AFFORDED BY THIS POLICY DOES NOT APPLY TO OPERATIONS OF THE INSURED BASED IN OR EMANATING FROM CANADA.**

**IT IS FURTHER AGREED THAT THIS POLICY SHALL NOT APPLY TO ANY LOSS FOR WHICH COVERAGE IS AFFORDED UNDER GLOBE INDEMNITY COMPANY OF CANADA POLICY NUMBER 5153320 AND THAT THE LIMIT OF LIABILITY STATED UNDER ITEM 6 OF THE DECLARATIONS IS THE TOTAL LIMIT FOR WHICH THE GLOBE INDEMNITY COMPANY AND/OR THE GLOBE INDEMNITY COMPANY OF CANADA, INDIVIDUALLY OR IN COMBINATION, SHALL BE LIABLE.**

This endorsement is subject to all terms, conditions and exclusions of the policy which are not inconsistent herewith.

**Signature of Authorized Representative**