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Policy Number: XS4289250 COMMERCIAL EXCESS LIABILITY COMMERCIAL EXCESS LIABILITY COVERAGE FORM Various provisions in this policy restrict coverage. But: Read the entire policy carefully to determine rights, (1) The amount we will pay for "ultimate net duties and what is and is not covered. loss"is limited as described in SECTION II Throughout this policy the words "you" and "your" - LIMITS OF INSURANCE, and refer to the Named Insured shown in the Declarations, (2) Our right to defend terminates when we and any other person or organization qualifying as a Named Insured under this policy. The words "we", have exhausted the applicable limit of "us" and 'bur" refer to the company providing this insurance in the payment of "ultimate net insurance. The word "insured" means any person or loss" under this Coverage Part. However, organization qualifying as such under the "applicable if any policy of "underlying insurance" underlying insurance". specifies that limits are reduced by Other words and phrases that appear in quotation defense expenses, our right to defend marks in this policy have special meaning. Refer to terminates when we have used up the SECTION IV - DEFINITIONS. Other words and applicable limit of insurance in the phrases that are not defined under this policy but payment of "ultimate net loss" under this defined in the "applicable underlying insurance" will Coverage Part. have the meaning described in the policy of b. An additional insured under "applicable "underlying insurance". underlying insurance" will automatically be an The insurance provided under this policy will follow additional insured under this insurance. If the same provisions, exclusions and limitations that coverage provided to the additional insured is are contained in the "applicable underlying required by a contract or agreement, the most insurance", unless otherwise directed by this we will pay on behalf of the additional insured insurance. To the extent such provisions differ or is the lessor of the amount of insurance conflict, the provisions of this policy will apply. required by the contract or available under the However, this policy will not provide coverage for an limits of insurance provided under this policy, "event" unless all the "applicable underlying less any amounts payable by any "underlying insurance" provides coverage for the "event". Under insurance". no circumstances will coverage provided by this policy ever be broader than coverage provided by all the Additional insured coverage provided by this "applicable underlying insurance". insurance will not be broader than coverage provided by all "applicable underlying SECTION I - COVERAGES insurance". 1. Insuring Agreement a. We will pay on behalf of the insured the 2. Exclusions "ultimate net loss" in excess of the "retained The following exclusions, and any other exclusions limit" because of "injury or damage" for which added by endorsement, apply to this policy. If any the insured is legally obligated to pay and to exclusion of "underlying insurance" conflicts with which this insurance applies. any exclusion in this policy, that exclusion of this We have no duty to investigate any claim, suit policy will apply. However, if that exclusion would or proceeding or defend under this policy. result in broader coverage than is provided by the However, at our sole discretion we have the "underlying insurance", the exclusion of the right and will be given the opportunity to "underlying insurance" will apply. This policy will effectively associate in the defense or not provide broader coverage than that provided investigation of any claim, suit or proceeding. by all "applicable underlying insurance". At our sole discretion we also have the right to This insurance does not apply to: assume charge of, negotiate and settle any claim, suit or proceeding to which this policy applies. In all such circumstances the insured will cooperate with us fully. XPCOVFORM-0815 Includes copyrighted material of Insurance Services Offices, Inc., Page 1 of 6 with its permission.