MISCELLANEOUS PROFESSIONAL LIABILITY INSURANCE

This is a Claims Made Insurance Policy

NOTICE: THIS IS A CLAIMS-MADE FORM. Except to such extent as may otherwise be provided herein, the coverage afforded under this Policy is limited to liability for only those CLAIMS THAT ARE FIRST MADE AGAINST THE ASSURED AND REPORTED TO THE UNDERWRITERS DURING THE PERIOD OF INSURANCE . The limits of liability available to pay Damages shall be reduced and may be completely exhausted by payment of Claims Expenses . Damages and Claims Expenses shall be applied against the deductible. Please review the coverage afforded under this Policy carefully and discuss the coverage hereunder with your insurance agent or broker. Words and phrases in bold have special meaning. See Section II Definitions.

The Underwriters agree with the Named Assured , in consideration of the payment of the premium and in reliance upon the statements in the application which is made a part of this Policy and subject to the limits of liability, exclusions, conditions and other terms of this insurance:

Insuring Agreements

Coverage

To pay on behalf of the Assured , subject to the terms, conditions, limitations and exclusions of this Policy, those Damages and Claims Expenses which the Assured shall become legally obligated to pay because of a Claim or Claims , first made against the Assured and reported to the Underwriters during the Period of Insurance , or any applicable Extended Reporting Period , solely arising out of an act, error or omission of the Assured in rendering or failing to render for others such services in the Profession as stated in Item 7 of the Declarations, on behalf of the Named Assured , PROVIDED ALWAYS THAT such act, error or omission happens:

during the Period of Insurance , or

prior to the Period of Insurance and subsequent to the retroactive date, if any, stated in Item 5 of the Declarations,

and provided that prior to the effective date of this Policy:

the Assured did not give notice to any prior insurer of any such act, error, omission, and

the Assured did not have a basis to believe that the act, error or omission might reasonably be expected to be the basis of a Claim , and

there is no prior policy or policies which provide insurance for such liability or Claim , whether or not the available limits of liability of such prior policy or policies are sufficient to pay any liability or Claim or whether or not the deductible provisions and amount of such prior policy or policies are different from this Policy

Defense and Settlement (Included in the Limits of Liability)

The Underwriters shall defend, subject to the limits of liability, any Claim against the Assured seeking payment under the terms of this Policy, even if any of the allegations of the Claim are groundless, false or fraudulent.

It is agreed that the limits of liability available to pay Damages shall be reduced and may be completely exhausted by payment of Claims Expenses.Damages and Claims Expenses shall be applied against the deductible.

The Underwriters shall have the right to make any investigation of a Claim as they deem necessary, including, without limitation, any investigation with respect to statements made in the application.

If the Assured shall refuse to consent to any settlement or compromise recommended by the Underwriters and acceptable to a claimant and elects to contest the Claim , Underwriters' liability for any Damages and Claims Expenses shall not exceed the amount for which the Claim could have been settled plus the Claims Expenses incurred up to the time of such refusal, or the remaining applicable limit of liability, whichever is less, and the Underwriters shall have the right to withdraw from the further defense thereof by tendering control of said defense to the Assured.

It is further provided that the Underwriters shall not be obligated to pay any Damages or Claims Expenses , or to undertake or continue defense of any Claim after the applicable limit of liability has been exhausted by payment of Damages or Claims Expenses , or after deposit of the applicable Policy limit in a court of competent jurisdiction, and that upon such payment, the Underwriters shall have the right to withdraw from further defense of any Claim by tendering control of said defense to the Assured .

Definitions

Whenever the singular form of a word is used herein, the same shall include the plural where required by context.

Whenever used in this Policy:

" Assured " means each of the following to the extent set forth below:

if the Named Assured is an individual, the person so designated but only with respect to the Services in the Profession stated in Item 7 of the Declarations;

if the Named Assured is a firm or association, the firm or association so designated and any partners, directors, officers, stockholders, or other employees of the Named Assured , but solely with respect to those Services in the Profession stated in Item 7 of the Declarations on behalf of the Named Assured ;

any person who previously qualified as an Assured under 2. above prior to the termination of the required relationship with the Named Assured , but solely with respect to those Services in the Profession stated in Item 7 of the Declarations on behalf of the Named Assured ;

the estate, heirs, executors, administrators, assigns and legal representatives of any Assured in the event of such Assured's death, incapacity, insolvency or bankruptcy, but only to the extent that such Assured would otherwise be provided coverage under this Policy.

" Bodily Injury " means injury to the body, sickness or disease sustained by any person, including death resulting from said injuries; or mental injury, mental anguish, mental tension or emotional distress, pain or suffering or shock sustained by any person whether or not resulting from injury to the body, sickness or disease or death of any person.

" Claim " means a demand received by any Assured for money, including the service of suit or institution of arbitration proceedings against the Assured arising out of any act, error or omission in the rendering of those Services in the Profession stated in Item 7 of the Declarations on behalf of the Named Assured .

" Claims Expenses " means;

fees charged by attorney(s) designated by the Underwriters; and

all other reasonable and necessary fees, costs and expenses resulting from the investigation, defense and appeal of a Claim or a suit, or proceeding arising in connection therewith, if incurred by the Underwriters, or by the Assured with the written consent of the Underwriters, including premium for any appeal bond, but without obligation of Underwriters to apply for or furnish such bond.

Claims Expenses shall not include any salary, overhead or other charges by the Assured for any time spent in cooperating in the defense and investigation of any Claim or circumstance which might lead to a Claim notified under this Policy. Nor shall Claims Expenses include any fees, costs or expenses of any supervisory or coverage counsel for Underwriters.

" Damages " means a monetary judgment, award or settlement, but Damages does not include:

any punitive or exemplary damages, any damages which are a multiple of compensatory damages, any award pursuant to the Texas Deceptive Trade Practices Act, fines, sanctions or penalties, whether based upon intentional or unintentional acts, errors or omissions, or the return or reimbursement of fees, costs, expenses or other compensation charged by any Assured for services.

" Hostile Fire " means one which becomes uncontrollable or breaks out from where it was intended to be.

" Named Assured " means the person or entity designated in Item 1 of the Declarations.

" Extended Reporting Period " means the period of time after the end of the Period of Insurance for reporting Claims arising out of acts, errors or omissions in rendering or failing to render for others such services in the Profession as stated in Item 7 of the Declarations, which acts, errors or omissions take place prior to the end of the Period of Insurance and are otherwise covered by this Policy.

" Period of Insurance " means the period of time between the inception date shown in the Declarations and the effective date of termination, expiration or cancellation of this insurance and specifically excludes any Extended Reporting Period hereunder.

" Personal Injury " means any injury resulting from any act or omission arising out of false arrest, detention, or imprisonment, wrongful entry or eviction or other invasion of the right of private occupancy, libel, slander, or other disparaging or defamatory materials, a writing or saying in violation of an individual's right to privacy, malicious prosecution or abuse of process.

" Pollutants " mean any solid, liquid, gaseous or thermal irritant or contaminant including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste. Waste includes material to be recycled, reconditioned or reclaimed.

" Pollutants " does not mean heat, smoke, vapor, soot or fumes from a Hostile Fire or explosion.

" Property Damage " means damage to or destruction of any tangible property, or the loss of use resulting therefrom.

Territory

This Policy only applies to acts, errors or omissions which take place anywhere in the world for Claims first made against the Assured in, the United States of America, its territories or possessions or Canada.

Exclusions

The coverage under this Policy does not apply to:

Any Claim based on or arising out of any criminal, dishonest, fraudulent or malicious act, error or omission of any Assured , committed with criminal, dishonest, fraudulent or malicious purpose or intent. However, notwithstanding the foregoing, the insurance afforded by this policy shall, subject to a sub-limit of 10% of the Limit of Liability specified in 3a of the Declarations of the policy, apply to Claims Expenses incurred in defending any such Claim , but shall not apply to any Damages which the Assured might become legally obligated to pay as a result of such Claim ;

any Claim by or on behalf of one Assured under this Policy against another Assured under this Policy;

any Claim based on or arising out of Bodily Injury , or Property Damage ;

any Claim based on or arising out of insolvency or bankruptcy of any Assured or of any other person, firm or organization;

any Claim based on or arising out of the commingling of monies or accounts, or loss of monies received by the Assured or credited to the Assured's account;

any Claim based on or arising out of any Assured's activities as a trustee, partner, officer, director or employee of any employee trust, charitable organization, corporation, company or business other than that of the Named Assured ;

any Claim made by or against or in connection with any business enterprise (including the ownership, maintenance or care of any property in connection therewith), not named in the Declarations, which is directly or indirectly owned by any Assured or in which any Assured is a beneficial owner, beneficiary, trustee, partner, officer, director or employee;

any Claim based on or arising out of the activities of any Assured in regard to any "Employee Pension Benefit Plan" and/or "Employee Welfare Benefit Plan," as those terms are defined in the Employee Retirement Income Security Act of 1974, as amended, sponsored by any Assured or any firm which any Assured owns or controls, or in regard to any such plan in which any Assured is a participant or a "Named Fiduciary" as that term is used under the Employee Retirement Income Security Act of 1974 as amended;

any Claim based on or arising out of express warranties or guarantees by any Assured , or the Assured assuming liability under contract unless the Assured would have been legally liable in the absence of such contract;

any Claim based on or arising out of Personal Injury ;

any Claim based on or arising out of actual or alleged discrimination by the Assured on any basis, including, but not limited to, discriminatory employment practices;

any Claim based on or arising out of:

any actual, alleged or threatened discharge, dispersal, release or escape of Pollutants , such as solid, liquid, gaseous or thermal irritants or contaminants, including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste (waste includes materials to be recycled, reconditioned or reclaimed); or

any governmental or regulatory directive or request that the Assured , or anyone acting under its direction or control, test for, monitor, clean up, remove, contain, treat, detoxify or neutralize said Pollutants .

These exclusions apply to any Claim by whomever or whatsoever made, including, but not limited to, any public, private or governmental person, concern, body, entity, agent, office or corporation.

any Claim based on or arising out of any actual or alleged violation of the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. § 1961 et seq., and any amendment thereto, or any rule or regulation promulgated pursuant thereto and any similar state statutes and any amendments thereto;

any Claim based on or arising out of any administrative, regulatory or licensing proceeding against the Assured ;

any Claim based on or arising out of any actual or alleged violation of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, or any state Blue Sky law or similar federal or state law and any rules or regulations promulgated pursuant to any of the foregoing law, unless specifically endorsed hereon;

any Claim based on or arising out of any actual or alleged infringement of copyright, patent, trademark, service mark or trade name, or unfair competition based upon actual or alleged infringement of a copyright, patent, trademark, service mark or trade name;

any Claim based on or arising out of any failure to procure or maintain adequate insurance or bonds or arising out of the Assured's failure to comply with any law with respect to the Assured's employees concerning worker's compensation, unemployment insurance, social security or disability benefits or any similar law or insurance coverage.

Limits of Liability

The limit of liability stated in Item 3(a) of the Declarations as applicable to Each Claim and all Claims arising out of the same, related or continuing acts, errors or omissions is the limit of the Underwriters' liability for all Damages and Claims Expenses .

The Limit of Liability stated in Item 3(b) of the Declarations as "annual aggregate" is the total limit of the Underwriters' liability for all Damages and Claims Expenses .

The limit of liability for any Extended Reporting Period shall be part of, and not in addition to, the limits of liability of the Underwriters for the Period of Insurance .

All Claims arising out of the same act, error or omission or a series of related or continuing acts, errors or omissions shall be considered a single Claim and shall be deemed to have been made at the time the first of the related Claims is made. All related Claims reported to Underwriters shall be subject to a single limit of liability as stated in Item 3(a) of the Declarations.

Deductible

The deductible amount stated in Item 3(c) of the Declarations shall be satisfied by payments by the Assured of Damages and Claims Expenses resulting from all Claims first made and reported to the Underwriters during the Period of Insurance or any Extended Reporting Period as a condition precedent to the payment by the Underwriters of any amounts hereunder. The Underwriters shall be liable only for amounts in excess of such Deductible, subject to the applicable limit of liability stated in Items 3(a) and 3(b) of the Declarations. The Assured shall make direct payments within the deductible to appropriate other parties designated by the Underwriters.

Innocent Assured

Whenever coverage of any Claim under this insurance would be excluded, suspended or lost:

because of any exclusion relating to criminal, dishonest, fraudulent or malicious acts, errors, or omissions by any Assured , and with respect to which any other Assured did not personally participate or personally acquiesce or remain passive after having personal knowledge thereof, or

because of non-compliance with any condition relating to the giving of notice to the Underwriters,

the Underwriters agree that such insurance as would otherwise be afforded under this Policy with respect to each Claim shall apply to those Assureds who did not personally commit or personally participate in committing or personally acquiesce in or remain passive after having personal knowledge of (i) one or more of the acts, errors or omissions described in any such exclusion; or (ii) such failure to give notice, provided that if the condition be one with which such Assureds can comply, after receiving knowledge thereof, the Assureds shall comply with such condition promptly after obtaining knowledge of the failure of any other Assured or Assureds to comply therewith.

With respect to this provision, the Underwriters' obligation to pay in such event shall be in excess of the deductible and in excess of the full extent of any assets of any Assured to whom the exclusion applies. In no event shall be Underwriters' obligation to pay exceed the applicable limit of liability stated in Items 3(a) and 3(b) of the Declarations.

Extended Reporting Period

In case of non-renewal of this Policy by the Named Assured or cancellation or non-renewal of this Policy by the Underwriters, for reasons other than the Named Assured's non-payment of premium or Deductible or non-compliance with the terms and conditions of this Policy, the Named Assured shall have the right to an Extended Reporting Period as follows:

Automatic Extended Reporting Period

The Named Assured shall have the right to a period of thirty (30) days following the effective date of such cancellation or non-renewal (referred to as the " Automatic Extended Reporting Period "), in which to give notice to the Underwriters of Claims first made against the Assured during the Automatic Extended Reporting Period for any Wrongful Act committed prior to the end of the Policy Period and otherwise covered by this Policy.

Optional Extended Reporting Period

The Named Assured shall have the right upon payment of an additional premium to have issued an endorsement providing an Optional Extended Reporting Period covering Claims first made against the Asssured reported to the Underwriters during the Optional Extended Reporting Period or within thirty (30) days thereof for Wrongful Acts committed prior to the effective date of such cancellation or non-renewal and otherwise covered by this Policy. The Named Assured may elect this twelve (12) month Optional Extended Reporting Period for one hundred percent (100%) additional premium. At the commencement of the Optional Extended Reporting Period , the entire premium therefore shall be deemed earned and, in the event the Named Assured terminates the Optional Extended Reporting Period before its expiration for any reason, the Underwriters shall not be liable to return to the Named Assured any portion of the premium for the Optional Extended Reporting Period .

The right to purchase the Optional Extended Reporting Period shall terminate, however, unless written notice of such election with the additional premium is received by the Underwriters not later than sixty (60) days after the effective date of cancellation or non-renewal. A change in Policy terms, conditions, exclusions and/or premiums shall not be considered a non-renewal for purposes of triggering the rights to an Optional Extended Reporting Period .

The first thirty (30) days of the Optional Extended Reporting Period , if purchased and becomes effective, shall run concurrently with the Automatic Extended Reporting Period . The fact that the period during which Claims may be made against the Assured under this Policy is extended by virtue of either the Automatic Extended Reporting Period or the Optional Extended Reporting Period shall not in any way increase the Limits of Liability of this Policy.

No Optional Extended Reporting Period shall be available when any Assured's license or right to practice his or her profession is revoked, suspended by or surrendered at the request of any regulatory authority.

Other Insurance

This insurance shall apply in excess of any other valid and collectible insurance available to the Assured , unless such other insurance is written only as specific excess insurance over the limits of liability of this Policy.

Notice of Claim, or Circumstance That May Lead to a Claim

If any Claim is made against the Assured during the Policy Period and any applicable Extended Reporting Period , the Assured shall immediately forward to the Underwriters, through persons named in Item 6 of the Declarations, every demand, notice, summons or other process received by him or his representative.

If during the Period of Insurance , the Assured first becomes aware of an act or omission that could reasonably be the basis for a Claim , and the Assured gives written notice to Underwriters through persons named in Item 6 of the Declarations during the Period of Insurance of:

the specific act, error or omission; and

the injury or damage which may result or has resulted from the act, error or omission; and

the circumstance by which the Assured first becomes aware of the act, error or omission.

then any such Claim that arises out of such reported act, error, or omission and that is subsequently made against the Assured and reported to the Underwriters shall be deemed to have been made at the time such notice was given to the Underwriters.

A Claim shall be considered to be reported to the Underwriters when notice of the Claim , or of an act, error or omission which could reasonably be expected to give rise to a Claim is first given to Underwriters through persons named in Item 6 of the Declarations.

If any Assured shall make any Claim under this Policy knowing such Claim to be false or fraudulent, this Policy shall become null and void and all coverage hereunder shall be forfeited.

Assistance and Cooperation of the Assured

The Assured shall cooperate with the Underwriters in all investigations, including investigations regarding the application for and coverage under this Policy, and upon the Underwriters' request shall submit to examination and interrogation by a representative of the Underwriters, under oath if required. The Assured shall attend hearings, depositions and trials and shall assist in securing and giving evidence, obtaining the attendance of witnesses, all without charge to Underwriters. The Assured shall further assist in effecting settlements, in the conduct of suits and in enforcing any right of contribution, apportionment or indemnity against any person or organization, who may be liable to the Assured because of acts, errors or omissions with respect to which insurance is afforded under this Policy. The Assured shall not, except at his own cost, admit liability, make any payment, assume any obligation, incur any expense, enter into any settlement, stipulate to any judgment or award or otherwise dispose of any Claim without the written consent of Underwriters.

Action Against Underwriters

No action shall lie against the Underwriters unless, as a condition precedent thereto, there shall have been full compliance with all terms of this Policy, nor until the amount of the Assured's obligation to pay shall have been fully and finally determined either by judgment or award against the Assured after actual trial or arbitration or by written agreement of the Assured , the claimant and the Underwriters.

Any person or organization or the legal representative thereof who has secured such judgment, award or written agreement shall thereafter be entitled to recover under this Policy to the extent of the insurance afforded by this Policy.

No person or organization shall have any right under this Policy to join the Underwriters as a party to an action or other proceeding against the Assured to determine the Assured's liability, nor shall the Underwriters be impleaded by the Assured or the Assured's legal representative. Bankruptcy or insolvency of the Assured or of the Assured's estate shall not relieve the Underwriters of any of their obligations hereunder.

Subrogation

In the event of any payment under this Policy, the Underwriters shall be subrogated to all the Assured's rights of recovery therefor against any person or organization and the Assured shall execute and deliver instruments and papers and do whatever else is necessary to secure such rights. The Assured shall do nothing after the payment of Damages by Underwriters to prejudice such rights.

Changes

Notice to any agent or knowledge possessed by any agent or by other person acting on behalf of the Underwriters shall not effect a waiver or a change in any part of this Policy or estop the Underwriters from asserting any right under the terms of this Policy. The terms of this Policy shall not be waived or changed, except by endorsement issued to form a part of this Policy.

Mergers and Acquisitions

The Named Assured shall be required to give written notice to the Underwriters prior to the completion of a merger or acquisition by or of the Named Assured and Underwriters expressly reserve the right to cancel the policy or demand a premium adjustment if this insurance is to remain in force subsequent to any merger or acquisition.

Assignment

The interest hereunder of any Assured is not assignable. If the Assured shall die or be adjudged incompetent, this insurance shall cover the Assured's legal representative as the Assured with respect to liability previously incurred and covered by this insurance.

Cancellation

This Policy of insurance may be cancelled by the Named Assured by surrender thereof to the Underwriters or by mailing to the Underwriters written notice stating when thereafter the cancellation shall be effective.

This insurance may be cancelled by the Underwriters by mailing to the Named Assured at the address shown in Item 1 of the Declarations written notice stating when not less than 60 days thereafter such cancellation shall be effective. However, if the Underwriters cancel this insurance because the Assured has failed to pay a premium when due, this insurance may be cancelled by the Underwriters by mailing a written notice of cancellation to the Named Assured at the address shown in the Declarations stating when not less than 10 days thereafter such cancellation shall be effective. The mailing of notice as aforesaid shall be sufficient proof of notice. The time of surrender or the effective date and hour of cancellation stated in the notice shall become the end of the Period of Insurance . Delivery (where permitted by law) of such written notice either by the Named Assured or by the Underwriters shall be equivalent to mailing.

If the Named Assured cancels this insurance, earned premium shall be computed in accordance with the attached short rate table and procedure. If the Underwriters cancel this insurance, earned premium shall be computed pro rata.

Premium adjustment may be made either at the time cancellation is effected or as soon as practicable after cancellation becomes effective, but payment or tender of unearned premium is not a condition of cancellation.

Entire Contract

By acceptance of this Policy, the Assured agrees that the statements in the Declarations and application are his agreements and representations, that this insurance is issued in reliance upon the truth of such representations and that this Policy embodies all agreements existing between the Assured and the Underwriters relating to this insurance.

Service of Suit

It is agreed that in the event of the failure of Underwriters hereon to pay any amount claimed to be due under this Policy, the Underwriters hereon, at the request of the Named Assured , will submit to the jurisdiction of a Court of competent jurisdiction within the United States. This Condition does not constitute and should not be understood to constitute an agreement by Underwriters that an action is properly maintained in a specific forum, nor may it be construed as a waiver of Underwriters' rights to commence an action in any Court of competent jurisdiction in the United States, to remove an action to a United States District Court, or to seek a transfer of a case to another Court as permitted by the laws of the United States or of any State in the United States.

It is further agreed that service of process in such suit may be made upon the Underwriters' representative designated in Item 8 of the Declarations and that in any suit instituted against any one of then upon this contract, Underwriters will abide by the final decision of such Court or of any Appellate Court in the event of an appeal.

The Underwriters; representative, designated in Item 8 of the Declarations is authorized and directed to accept service of process on behalf of Underwriters in any such suit and/or upon the request of the Named Assured to give a written undertaking to the Named Assured that they will enter a general appearance upon Underwriters' behalf in the event such a suit shall be instituted. Further, pursuant to any statute of any state, territory or district of the United States which makes provision therefor, Underwriters hereon hereby designate the Superintendent, Commissioner or Director of Insurance or other officer specified for that purpose in the statute, or his successor or successors in office, as their true and lawful attorney upon whom may be served any lawful process in any action, suit or proceeding instituted by or on behalf of the Named Assured or any beneficiary hereunder arising out of this contract of insurance, and hereby designate the Underwriters' representative designated in Item 8 of the Declarations as the person to whom the said officer is authorized to mail such process or a true copy thereof.

SHORT RATE CANCELLATION TABLE

Notwithstanding anything to the contrary contained herein and in consideration of the premium for which this Insurance is written it is agreed that in the event of cancellation thereof by the Assured the Earned Premium shall be computed as follows:

For insurances written for one year:

Days Insurance

in Force Percent of One

Year Premium

Days Insurance

in Force Percent of One

Year Premium

1 - 54 ......................... 25 192 - 196 ......................... 63

55 - 58 ......................... 26 197 - 200 ......................... 64

59 - 62 ......(2 months)...... 27 201 - 205 ......................... 65

63 - 65 ......................... 28 206 - 209 ......................... 66

66 - 69 ......................... 29 210 - 214 ......(7 months)...... 67

70 - 73 ......................... 30 215 - 218 ......................... 68

74 - 76 ......................... 31 219 - 223 ......................... 69

77 - 80 ......................... 32 224 - 228 ......................... 70

81 - 83 ......................... 33 229 - 232 ......................... 71

84 - 87 ......................... 34 233 - 237 ......................... 72

88 - 91 ......(3 months)...... 35 238 - 241 ......................... 73

92 - 94 ......................... 36 242 - 246 ......(8 months)...... 74

95 - 98 ......................... 37 247 - 250 ......................... 75

99 - 102 ......................... 38 251 - 255 ......................... 76

103 - 105 ......................... 39 256 - 260 ......................... 77

106 - 109 ......................... 40 261 - 264 ......................... 78

110 - 113 ......................... 41 265 - 269 ......................... 79

114 - 116 ......................... 42 270 - 273 ......(9 months)...... 80

117 - 120 ......................... 43 274 - 278 ......................... 81

121 - 124 ......(4 months)...... 44 279 - 282 ......................... 82

125 - 127 ......................... 45 283 - 287 ......................... 83

128 - 131 ......................... 46 288 - 291 ......................... 84

132 - 135 ......................... 47 292 - 296 ......................... 85

136 - 138 ......................... 48 297 - 301 ......................... 86

139 - 142 ......................... 49 302 - 305 .....(10 months)..... 87

143 - 146 ......................... 50 306 - 310 ......................... 88

147 - 149 ......................... 51 311 - 314 ......................... 89

150 - 153 ......(5 months)...... 52 315 - 319 ......................... 90

154 - 156 ......................... 53 320 - 323 ......................... 91

157 - 160 ......................... 54 324 - 328 ......................... 92

161 - 164 ......................... 55 329 - 332 ......................... 93

165 - 167 ......................... 56 333 - 337 .....(11 months)..... 94

168 - 171 ......................... 57 338 - 342 ......................... 95

172 - 175 ......................... 58 343 - 346 ......................... 96

176 - 178 ......................... 59 347 - 351 ......................... 97

179 - 182 ......(6 months)...... 60 352 - 355 ......................... 98

183 - 187 ......................... 61 356 - 360 ......................... 99

188 - 191 ......................... 62 361 - 365 .....(12 months)..... 100

For Insurances written for more or less than one year:

If insurance has been in force for 12 months or less, apply the standard short rate table for annual insurances to the full annual premium determined as for an insurance for a term of one year.

If insurance has been in force for more than 12 months:

Determine full annual premium as for an insurance written for a term of one year.

Deduct such premium from the full insurance premium, and on the remainder calculate the pro rata Earned Premium on the basis of the ratio of the length of time beyond one year the insurance has been in force to the length of time beyond one year for which the insurance was originally written.

Add premium produced in accordance with items (a) and (b) to obtain Earned Premium during full period insurance has been in force.

Furthermore and notwithstanding the foregoing, Underwriters shall retain the total premium for this Insurance , such premium to be deemed earned upon inception of the Policy if any Claim or any circumstance that could reasonably be the basis for a Claim is reported to Underwriters under this Insurance on or before such date of cancellation.

MPL Wording (03/26)