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a. Coverage under this provision is af- forded only until the 90th day after you acquire or form the organization or the end of the policy period, whichever is earlier. b. Coverage under this provision does not apply to any act, error or omission that was committed before you acquired or formed the organization. D. For the purposes of the coverage provided by this endorsement, Section III - Limits Of Insur- ance is replaced by the following: 1. Limits Of Insurance a. The Limits of Insurance shown in the Schedule and the rules below fix the most we will pay regardless of the number of: (1) Insureds; (2) "Claims" made or "suits" brought; (3) Persons or organizations making "claims" or bringing "suits"; (4) Acts, errors or omissions; or (5) Benefits included in your "employee benefit program". b. The Aggregate Limit is the most we will pay for all damages because of acts, errors or omissions negligently com- mitted in the "administration" of your "employee benefit program". c. Subject to the Aggregate Limit, the Each Employee Limit is the most we will pay for all damages sustained by any one "employee", including damag- es sustained by such "employee's" de- pendents and beneficiaries, as a result of: (1) An act, error or omission; or (2) A series of related acts, errors or omissions negligently committed in the "adminis- tration" of your "employee benefit pro- gram". However, the amount paid under this endorsement shall not exceed, and will be subject to, the limits and restrictions that apply to the payment of benefits in any plan included in the "employee benefit program". The Limits of Insurance of this endorse- ment apply separately to each consecutive annual period and to any remaining period of less than 12 months, starting with the beginning of the policy period shown in the Declarations of the policy to which this en- dorsement is attached, unless the policy period is extended after issuance for an ad- ditional period of less than 12 months. In that case, the additional period will be deemed part of the last preceding period for purposes of determining the Limits Of Insurance. 2. Deductible a. Our obligation to pay damages on be- half of the insured applies only to the amount of damages in excess of the deductible amount stated in the Sched- ule as applicable to Each Employee. The limits of insurance shall not be re- duced by the amount of this deductible. b. The deductible amount stated in the Schedule applies to all damages sus- tained by any one "employee", includ- ing such "employee's" dependents and beneficiaries, because of all acts, errors or omissions to which this insurance applies. c. The terms of this insurance, including those with respect to: (1) Our right and duty to defend any "suits" seeking those damages; and (2) Your duties, and the duties of any other involved insured, in the event of an act, error or omission, or "claim" apply irrespective of the application of the deductible amount. d. We may pay any part or all of the de- ductible amount to effect settlement of any "claim" or "suit" and, upon notifi- cation of the action taken, you shall promptly reimburse us for such part of the deductible amount as we have paid. E. For the purposes of the coverage provided by this endorsement, Conditions 2. and 4. of Sec- tion IV - Commercial General Liability Condi- tions are replaced by the following: 2. Duties In The Event Of An Act, Error Or Omission, Or "Claim" Or "Suit" a. You must see to it that we are notified as soon as practicable of an act, error or omission which may result in a "claim". To the extent possible, notice should include: (1) What the act, error or omission was and when it occurred; and (2) The names and addresses of any- one who may suffer damages as a result of the act, error or omission. b. If a "claim" is made or "suit" is brought against any insured, you must: CG 04 35 12 07 Copyright, ISO Properties, Inc., 2006 �oRaN� RiskMmWmentDMsian REVIEWED & APPROVED BY. - Risk Management Analyst