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This endorsement modifies insurance provided under the following: BUSINESS AUTO COVERAGE FORM A. Broad Form Named Insured of the operations contemplated by such contract. The The following is added to the SECTION II — waiver applies only to the person or organization COVERED AUTOS LIABILITY COVERAGE, Para- designated in such contract. graph A.1. Who Is An Insured Provision: E. Employee Hired Autos Any business entity newly acquired or formed by you 1. The following is added to the SECTION II — during the policy period, provided you own fifty COVERED AUTOS LIABILITY COVERAGE, percent(50%)or more of the business entity and the Paragraph A.1.Who Is An Insured Provision: business entity is not separately insured for Bus-iness An "employee" of yours is an "insured" while Auto Coverage. Coverage is extended up to a operating an "auto" hired or rented under a maximum of one hundred eighty(1 SO)days following contract or agreement in that"employee's"name, the acquisition or formation of the business entity. with your permission, while performing duties This provision does not apply to any person or related to the conduct of your business. organization for which coverage is excluded by 2. Changes In General Conditions: endorsement. B. Employees As Insureds Paragraph 5.b. of the Other Insurance Con- dition in the BUSINESS AUTO CONDITIONS is The following is added to the SECTION II — deleted and replaced with the following: COVERED AUTOS LIABILITY COVERAGE, Para- graph A.1.Who Is An Insured Provision: b. For Hired Auto Physical Damage Coverage, the following are deemed to be covered Any"employee"of yours is an "insured"while using a "autos"you own: covered "auto" you don't own, hire or borrow in your (1) Any covered "auto" you lease, hire, rent business or your personal affairs. or borrow; and C. Blanket Additional Insured (2) Any covered "auto" hired or rented by The following is added to the SECTION II — your"employee" under a contract in that COVERED AUTOS LIABILITY COVERAGE, Para- individual "employee's" name, with your graph A.1.Who Is An Insured Provision: permission, while performing duties Any person or organization that you are required to related to the conduct of your business. include as an additional Insured on this coverage form However, any"auto"that is leased, hired, in a contract or agreement that is executed by you rented or borrowed with a driver is not a before the"bodily injury"or"property damage"occurs covered"auto". is an "insured" for liability coverage, but only for F. Fellow Employee Coverage damages to which this insurance applies and only to SECTION II — COVERED AUTOS LIABILITY the extent that person or organization qualifies as an COVERAGE, Exclusion B.5. does not apply if you "insured" under the Who Is An Insured provision have workers compensation insurance in-force contained in SECTION II — COVERED AUTOS your coveringall ofemployees. LIABILITY COVERAGE. P yees. The insurance provided to the additional insured will G. Auto Loan Lease Gap Coverage be on a primary and non-contributory basis to the SECTION III — PHYSICAL DAMAGE COVERAGE, additional insured's own business auto coverage if C. Limit Of Insurance, is amended by the addition of you are required to do so in a contract or agreement the following: that is executed by you before the "bodily injury" or In the event of a total"loss"to a covered"auto"shown "property damage"occurs. in the Schedule of Declarations, we will pay any D. Blanket Waiver Of Subrogation unpaid amount due on the lease or loan for a covered "auto", less: The following is added to the SECTION IV— BUSI- 1. The amount paid under the PHYSICAL NESS AUTO CONDITIONS,A. Loss Conditions,5. Transfer Of Rights Of Recovery Against Others DAMAGE COVERAGE section of the policy; and To Us: 2. Any: We waive any right of recovery we may have against a. Overdue lease/loan payments at the time of any person or organization to the extent required of the"loss"; you by a contract executed prior to any"accident" or "loss", provided that the"accident"or"loss"arises out PPA 300 03 13 Page 2 of 5