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8/08 2007 10:50 FAX <br />((i) The coverage provided will not exceed the <br />lesser of: <br />(a) The coverage and/or Ilmfts of this policy; <br />or <br />(b) The coverage and/or limits required by <br />the insured contract ". <br />(7) A person's or organization's status as an <br />"Insured" under this subparagraph d ends <br />when your operations for that "insured" are <br />completed. <br />FELLOW EMPLOYEE COVERAGE .-" EXECUTIVE <br />OFFICERS .. <br />Exclusion 5. FELt.OW EMPLOYEE of SECTION ll - <br />LIABILITY COVERAGE - B. EXCLUSIONS Is <br />amended by the additlon of the tollowing; <br />This exclusion .does not apply to liablpty Incurred by <br />your employees that are executive officers. <br />PHYSICAL DAMAGE - ADDITIONAL TRANS- <br />PORTATION EXPENSE COVERAGE <br />The first sentence of paragraph A.4, of SECTION III <br />- PHYSICAL DAMAdE COVERAGE Is amended as <br />lollows: <br />We will pay up to $50 per 'day to a maximum of <br />$1,500 !or temporary transportetian expense Incurred <br />by you because of the total theft of a covered "auto^ <br />of the private passenger type. <br />EXTRA EXPENSE -BROADENED COVERAGE <br />Paragraph A. -- ,COVE=flAGE of SECTION 11i -- <br />PHYSICAL DAMAGE COVERAGE is amended to <br />add: <br />5. We will pay for the expense of.returning a stolen <br />covered "autos to you. , <br />AtReAG COVERAGE <br />Under paragraph B. -EXCLUSIONS of SECTION III <br />- PHYSICAL DAMAGE COVERAGE, the tollowing Is <br />added: <br />The exclusion relating to mechanical breakdown does <br />not. apply to the accidental discharge of en airbag. <br />LEASE GAP COVERAGE <br />Under paragraph C -LIMIT OF INSURANCE of <br />SECTION Ifl -PHYSICAL DAMAGE COVERAGE, <br />the following Is added: <br />4. Ths most we will pay for a total "loss" in any one <br />"accident" Is the greater of the tollowing, subject <br />to a 51,500 maximum limp: <br />a. Actual cash value of •the damaged or stolen <br />property as of the lima of the Woss", less an . <br />adjustment for depreciation and physical <br />condition; or <br />b. Balance due under the terms of the loan or <br />lease that the damaged covered 'auto" is <br />subject to at the time of the "loss"; less any <br />one or ell of the following adjustments: <br />(1) Overdue paymeht and financial <br />penalties associated with those <br />,payments as of the data of ,the <br />"loss". <br />(2) Financial penalties imposed under a <br />lease due to high, ml(aage, exces- <br />slve use or abnormal wear and tear. <br />(3) Costs for extended warrarltles, Cre- <br />dit Llfe Insurance; Health, ,Accident <br />or Disability Insurance purchased <br />with the loan or (ease, <br />(4) Transfer or rollover balances from <br />previous loans Or leases. <br />(5) Final payment due under a "BSlloon <br />Loan ". <br />(6) The dollar amount of any <br />un-repaired damage that occurred <br />prior to the "tote( loss" of a covered <br />"aUtO". <br />(T) Security deposits not refunded by a <br />lessor. <br />(8) All refunds payablo or paid to you <br />a9 a result. of the early termination <br />of a lease agreement or any war- <br />ranty or extended service agree- <br />ment on a covered "auto". <br />(9j Any amount representing taxes. <br />(10) Loan or lease tem'-Inatlon fees <br />GLASS REPAIR - WAIVER OF DEDUCTIBLE <br />Under paragraph D. -DEDUCTIBLE of SECTION III <br />- PHYSICAL DAMAGE COVERAGE, the following Is <br />added: <br />No deductible applies to glass damage ff the glass is <br />repaired rather than replaced. <br />AMENDED DUTIES IN THE !:VENT OF ACCI- <br />DENT, CLAIM, SUIT OR LOSS <br />The requirement in L05S CONDITION 2.a. - <br />DUTIES IN THE EVENT OF ACCIDENT, CLAIM, <br />Ptye 2 at 5 <br />