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<br />EPS++ <br />tech + pro + media + security + privacy <br /> <br />GSL2302XX (Ed 6/11) <br />Page 22 <br />Copyright © 2011 CNA. All Rights Reserved. <br />C. CANCELLATION <br />1. Insurer’s Right to Cancel <br />The Insurer shall not cancel this Policy except for non-payment of any premium when due. The Insurer shall <br />provide to the Named Insured written notice of such cancellation stating when, not less than fifteen (15) days <br />thereafter, such cancellation shall be effective, except that non-payment of premium due at inception of this <br />Policy will result in the policy being cancelled effective as of the inception date. <br />2. Named Insured’s Right to Cancel <br />The Insureds grant the exclusive authority to cancel this Policy to the Named Insured. The Named Insured <br />may cancel this Policy by providing the Insurer written notice stating when thereafter such cancellation shall <br />be effective. The mailing or delivery of such notice shall be sufficient. The unearned premium shall be <br />computed on a pro-rata basis. <br />D. EXTENDED REPORTING PERIOD <br />1. Automatic Extended Reporting Period <br />The Named Insured shall have the right to a period of sixty (60) days following the effective date of such <br />cancellation or non-renewal, in which to give written notice to the Insurer of Claims first made against the <br />Insured during said sixty (60) days period for any Wrongful Act committed prior to the end of the Policy <br />Period and otherwise covered by this Policy. <br />2. Optional Extended Reporting Period <br />If the Named Insured or Insurer cancels or non-renews this Policy, the Named Insured shall have the right <br />to purchase, upon payment of an additional premium, an extension of this Policy, for any Claim first made or <br />deemed to be first made during such period for Wrongful Acts committed before the earlier of the end of the <br />Policy Period or the effective date of any Takeover. The additional premium shall be as set forth below. <br />Policy Extension Additional Premium (as a % of the Total Premium Paid for this Policy) <br />1 Year 100% <br />2 Years 150% <br />3 Years 200% <br />This period shall be referred to as the “Optional Extended Reporting Period”. <br />3. Payment of Extended Reported Period Premium <br />As a condition precedent to the right to purchase the Optional Extended Reporting Period, the total premium <br />for this Policy must have been paid. The right to purchase such Optional Extended Reporting Period shall end <br />unless the Insurer receives written notice of the Named Insured’s election to purchase such Optional <br />Extended Reporting Period and full payment of the premium for such period within sixty (60) days after the <br />end of the Policy Period. <br />4. Non-Cancelable/Premium Fully Earned <br />DocuSign Envelope ID: 57A293A7-E790-41D7-BF18-E42777ABBC47