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(Page 26 of 74) Such a leased "auto"will be considered a covered "auto"you own and not a covered "auto"you hire. Ill. ADDITIONAL INSURED—WHERE REQUIRED UNDER CONTRACTOR AGREEMENT Subparagraph 1.Who Is an Insured of Paragraph A. Coverage(SECTION II—COVERED AUTOS LIABILITY COVERAGE)is amended to include the following: Any person or organization to whom you become obligated to include as an additional insured under this policy,as a result of any contract or agreement you enter into which requires you to furnish Insurance to that person or organization of the type provided by this policy, but only with respect to liability covered by the terms of this policy, arising out of the use of a covered "auto"you own, hire or borrow. However, the insurance provided herein will not exceed the lesser of: (1) The coverage and/or limits of this policy, or (2) The coverage and/or limits required by said contract or agreement. IV. EMPLOYEES AS INSUREDS Subparagraph 1.Who is an Insured of Paragraph A.Coverage(SECTION 11—COVERED AUTOS LIABILITY COVERAGE)is amended to include the following: Any"employee"of yours while using a covered"auto"you do not own,hire or borrow, in your business or your personal affairs. V. EMPLOYEE HIRED AUTOS A. Subparagraph 1.Who is an Insured of Paragraph A.Coverage (SECTION II— COVERED AUTOS LIABILITY COVERAGE)is amended to include the following: An"employee"of yours while operating an"auto"hired or rented under a contract or agreement in that"employee's"name,with your permission,while performing duties related to the conduct of your business. B. Subparagraph b.of Subparagraph 5.Other Insurance of Paragraph B.General Conditions(SECTION IV—BUSINESS AUTO CONDITIONS)is deleted in its entirety and replaced with the following: b. For Hired Auto Physical Damage Coverage, the following are deemed to be covered"autos"you own: 1. Any covered"auto"you lease, Dire,rent or borrow;and 2. Any covered "auto" hired or rented by your "employee" under a contract in that individual "employee's" name, with your permission, while performing duties related to the conduct of your business. However, any "auto" that is leased, hired, rented or borrowed with a driver is not a covered"auto'. VI. DRIVE OTHER CAR LIABILITY COVERAGE—EXECUTIVE OFFICERS Subparagraph 1.Who is an Insured of Paragraph A. Coverage(SECTION II—COVERED AUTOS LIABILITY COVERAGE)is amended to Include the following: 102093(1-14) Page 2 of 8 Includes copyrighted material of Insurance Services Office, Inc.,with its permission. All rights reserved.