BEGINNERS EDGE SPORTS TRAINING, LLC (3)

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MAINTAINING YOUR RECORDS FOR AUDIT PURPOSES WHAT IS A PREMIUM ADJUSTMENT? W❑en yoC7 WorEors❑Compensation policy was iss❑ed yo❑ paid a deposit premiCrn Cased on t❑e natC7e of yoC7 11C:8iness and estimates of yoC7 payroll. At t❑e end of t❑e policy period, we cond❑ct an a❑dit to compare t❑e estimates against t❑e actCial figC7es and operations. Based on tCEJs comparison an ad❑iAtment is made. If t❑e actilal premiCrn is less titan what yo❑ already CiaC:o paid, a refC7nd will Lie made. If its more, yo❑ will Lie CfIled for t❑e difference. Ti❑ese adAtments are s❑❑Cect to any minimCrn premiEns tCiat apply. HOW WILL THE PREMIUM ADJUSTMENT BE MADE? On smaller, less comple❑ operations we may e-mail yoq call yoq or mail yo❑ a re❑lest to as❑yo❑ to proEide t0e information :ja oij online weiD-ihased portal, mail or telepi—one. If we re❑i re tiffs information, we will pro:1de an electronic tin❑ to, or a paper copy of, tE0 necessary forms for yo❑to complete. On larger, more comple❑ operations one of oij Premi::n Ahiitors will contact yo❑ for an appointment. Yo❑ will iDe contacted eit:ler Dy e-mail, telep:one or mail. If directed, tie aihlitor will contact yoij accoiEntant to oEtain as mi❑c❑ information as possiC7e and contact yo❑ at a later time for additional information that may DO needed. BASIS OF PREMIUM Remuneration (Payroll) in most states, inclhles❑ Payment of:] Wages, F:OniEses, commissions, oCortime,❑ sic❑ pay, C:8cation pay, El tool allowances, contri❑loons to indi:1d 8I retirement accoErits, employee contri❑Etions to employee iDenefit plans. Payments on ❑psis of-] Piece worq incentii-:0 plans, profit sharing. Ti❑e C81:10 of❑ ❑oiling f:lrnis❑ed to employees,-] meals f0misFied to employees,❑store certificates, merchandise and ot:ler dollar s❑E8titi-tes. The Hartford Remuneration does not include: a. Employer contri❑Coons to a grogp ins0-ance or pension plan ot❑er tCian statEtory plans of insFirance. El Special awards for indiudC]al inContions or discoEories. c. OEOrtime. ❑ Subcontractors. In tie aCL8ence of ot❑er insC7ance, most state laws ❑old a contractor responside for in❑ries to employees of s❑❑contractors. At t❑e time of a❑dit Certificates of InsC7ance mC8t Lie aElailade for s❑Contractors wit[] employees, in order to a❑bid payment of premiC7n. Independent Contractors, wit::0iA employees, wise dies closely resemFle t::ose of an employee, will ija considered yob employee wit❑ t0a appropriate premiiEn ciharged. Ti❑e actilal wor ing relationsi❑ip !Fetween yo❑ and tija Independent Contractor is e!:amined. Items s❑c❑ as, ❑i t not limited to❑ w0et:ler tiDa wor❑ performed is an integral part of yoij operations, wFlatiDar yo❑ ila-e tiDa rig Et to control t0e details of t!Da worq tip meti❑od of payment, wig si—pplied tip materials wed, does tip person regiFlarly wor❑ for ot:lers, wEose reg:1atory aiFt!Eority did person operate iEnder, wi-latEler tip person is iniEol::Od in a separate and distinct ❑iciness offering tip same ser:1ces to t❑e p❑Jic. RECORDS As part of tFle policy conditions, we are allowed to e!iamine yoi-ir financial ❑boil and records to determine actihal eiEposjes and operations. We woEld appreciate yoi-i- cooperation in maiing t❑e needed records a::8ila:le for tiDa aihlitorig inspection. What Records Will Be Needed? Ti❑e records needed will iLary. In most cases, tip Premi::n Aihlitor will De aide to oEtain tip necessary aihlit data from two or more of tip following records❑ iFoDnals, Ledgers, State and Federal Tai❑ Reports, IndiJdi❑al Earning Cards, C❑ecmooL:S and Contracts. Form 98456 5th Rev. 12-13 Printed in O.S.A. Page 1 of 2