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DocuSign Envelope ID:8B670D51-A7FD-4694-8E94-963553021305 <br /> NORTH CAROLINA ENDORSEMENT <br /> MANAGEMENT & PROFESSIONAL LIABILITY POLICY <br /> Deductibles And Limits Of Liability - continued <br /> All limits of liability made part of this Policy apply separately to each consecutive annual period <br /> during the "policy period" and to any remaining period of less than 12 months, starting with the <br /> beginning of the "policy period," unless the "policy period" is extended after the first day of the <br /> "policy period" for an additional period of less than 12 months. In that case, the additional period <br /> will be deemed part of the last preceding period for purposes of determining the applicable limits. <br /> Extended Reporting Period <br /> The Extended Reporting Period Coverage Extension in the Terms, Conditions And Other Provisions is <br /> replaced with the following: <br /> 1. If the "insured organization" or the "insurance organization" terminates, cancels or nonrenews this <br /> Policy for any reason, other than for nonpayment of premium, the "insured organization," shall <br /> have the right, upon payment of the additional premium shown in Item 5. on the Declarations, to <br /> extend coverage granted by this Policy for an amount of time shown in Item 5. on the Declarations <br /> following the effective date of termination, cancellation or nonrenewal. However, the extended <br /> coverage provided shall only apply to "wrongful acts" occurring prior to the effective date of <br /> termination, cancellation or nonrenewal. The right to purchase the Extended Reporting Period shall <br /> cease unless written notice to elect this extension of coverage along with the additional premium due <br /> is received by the "insurance organization" within 30 days following the effective date of <br /> termination, cancellation or nonrenewal. Any "claim" first made during the Extended Reporting <br /> Period shall be deemed to have been made during the "policy period" immediately preceding the <br /> effective date of termination, cancellation or nonrenewal. Provided, however, the limit of liability for <br /> the Extended Reporting Period shall equal any applicable limit of liability in effect at the start of the <br /> last"policy period." <br /> 2. The Extended Reporting Period amount of time shown in Item 5. on the Declarations shall be no <br /> less than 12 months following the effective date of termination, cancellation or nonrenewal. <br /> 3. If the Extended Reporting Period is elected, all premium shall be deemed fully earned at the <br /> effective date of termination, cancellation or nonrenewal. <br /> MPL 0020 07 13 NC CUMIS Insurance Society, Inc. Page 3 of 3 <br />