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Policy Number USUUlU10611;024A MAA XL insurance under this Policy that the Insured shall give to Insurer such information and cooperation as Insurer reasonably requires at the Insured's expense. 5.1.2.4 Insurer will not settle or compromise the Claim without the consent of the Insured.If Insurer wishes to settle a Claim and the Insured is opposed to such settlement,Insurer's total aggregate payments for Damages and Claim Expenses under this Policy shall be limited to the amount which the Claim could have been settled for. 5.1.2.5 Legal fees and costs awarded to the Insured in court shall pass to Insurer to the extent of its payments under this Policy. 5.1.2.6 The choice of legal counsel will be left to the Insured subject to written approval from Insurer, such approval not to be unreasonably withheld. 5.2 Reporting and Notice 5.2.1 Notice of Claim The Insured as a condition precedent to payment under this Policy shall provide written notice to Insurer of any Claim made against an Insured as soon as practicable and in any case during the Period of Insurance. 5.2.2 Notice of Circumstances 5.2.2.1 Written notice shall include but not be limited to a description of the Circumstances with full particulars as to dates and persons involved,the date and manner in which the Insured first became aware of Circumstances and the reasons for anticipating a Claim. 5.2.2.2 If during the Period of Insurance the Insured becomes aware of Circumstances which could give rise to a Claim against the Insured and give written notice of such Circumstances to Insurer during the Period of Insurance,then any Claims subsequently arising from such Circumstances shall be considered to have been made during the Period of Insurance in which the Circumstances were first reported to Insurer. 5.2.3 Notice of Claim and Claims List Bordereau 5.2.3.1 For notice purposes only,a Claim is when the Insured's General Counsel becomes aware of a Claim which is reasonably expected to involve this Policy. The Insured providing of information underthe Claims List Bordereau does constitute notice of a Claim under this Policy. 5.3 Limit of Liability 5.3.1 Maximum Liability Insurer's liability for Damages and Claim Expenses combined for each Claim and in the aggregate for all Claims shall not exceed the amount stated in schedule. 5.3.2 General Deductible J Self-Insured Retention 5.3.2.1 Insurers obligation to pay Damages and Claim Expenses in connection with any Claim shall only be in excess of the Deductible or Self-Insured Retention as stated in the schedule. 5.3.2.2 The Deductible or Self-Insured Retention shall be paid by the Insured.The Deductible or Self-Insured Retention shall be applicable to each Claim and shall include Damages and Claim Expenses. 5.3.3.3 Insurer will have no obligation whatsoever,either to the Insured or to any other person or entity,to pay any portion of the Deductible or Self-Insured Retention on behalf of the Insured. 5.4 Subrogation 5.4.1 Insurer shall be subrogated to all the insured's rights of recovery against any person or organization before or after any payment or indemnity under this Policy.The Insured will give all such assistance in the exercise of rights of recovery as Insurer may reasonably require. Such subrogated rights will first benefit Insurer and then the Insured. 5.4.2 Insurer agrees not to exercise any such right against any of the Insured's Directors or Employees unless the Claim is brought about or contributed to by the dishonest,fraudulent, reckless,criminal or malicious act or omission of Directors or Employees. 5.4.3 Insurer agrees to waive this right of subrogation against any person or organization to the extent that the Insured had,prior to Claim,a written agreement to waive such rights. 11