STRADLING YOCCA CARLSON & RAUTH A PROFESSIONAL CORPORATION

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Who 1s An htsured/ Umbrella Coverage S (conflnued) Subsidiary Or Newly if there is no other instinince available, the following organizations will qualify as anined Acquired Or Formed insureds: Organizations a subsidiary organization of the first panned Insured shown in the Deolarations of which, at the beginning or the policy period and at Clue time or loss, such first trained fissured controls, either directly or indirectly, more than fitly (SO) percent of file interests untitled to vote generally in ilia election of the governing body of such orkanizntion; or a subsidiary orgi i7anlmt of the first moped Insured shown In the Oeclararions that such Fast named insured acquires or fetus during die policy period, if at the time of loss such first nutted htsured controls, ekher directly or indirectly, Inert, than filly (S()) percent of the inatresis entitled to vote generally in the election of the governing body of such organization. Urnitations On Who Is An With respect to Urnbrella Coverage 13, the following limitations apply to Who is An Insured, Insured A. l'xceptln the extent provided under the Subsidiary Or Newly Acquired Or N'orniod Organizatiunsprovision, no person or organization is an Insured with respect to the conduct of nay person or organization that is not shown as a nntned Insured in the Declarations. B, No person or organization is, an iussi ed with respect to the: I. ownership, Lila!ntenance or use orany assets; Of 2, conduct of any person or organi7aton whose ascots, basineas or argasti73r1011; you auluire, either directly or indirectly, l'orauy; bodily injury or property daroage that occurivd; or, advertising injury or personal iu,lur , arising not of an offense ttrst couinlued: in whole or in part, before you, directly or indirectly, acquired such assets, business or organization, C. No person or organization is an htsured with respect to the conduct of any partnership (ineludhtg any lituited liability partnership), joint venture or limped liability camlaany that is not shown as a named insured in the Duclaralians. Limits Of insurance With respect to all coverages under this Con€ract, the L knits Of tnsurarwe shown in the Declarut:ions and the rules below: fix the most we will pay, regardless of tire number oil + Insureds; + claims made or suits brought; = persona or organizations making clainns or bringing surfs; vehicles involved; or • coverages provided in this contract- rdfabb Comoseclef Excess ArM Uaibroft 7alaursrice Fnrrn 47-6USI5 (RPV.. 7-07) Gnntrar.P �y RialcldmagementDrviatan '� a�7 REVIEWED &APPROVED BY pp I� Risk Management Analyst a