PENCO ENGINEERING, INC. 3 - 2015

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Policy Number: PGA0002222 This endorsement modifies insurance provided under the followIng: BUSINESS AUTO COVERAGE FORM A. Broad Form Named Insured The following is added to the SECTION U - LIABILITY Coverage, Paragraph AJ. Who Is An Insured Provision: Any business entity newly acquired orformed by you during the policy period, provided you own fifty percent (50%) or more, of the.business entity a nd the, business entity is not separately insured for Business Auto Coverage. Coverage is extended Lip to a maximum of one hundred eighty (180) days following the acquisition or formation of the business This provision does not apply to any person or organization for which coverage is excluded by endorsement, B. Employees As Insureds The following is added to the SECTION U - LIABILITY COVERAGE, Paragraph A.1.Who Is An /nooredPmvision: Any "employee' of yours isan"inuned^while, Lising acoyered "auto" you don't mmn' hire or boAnw in your business oryourpersonal affairs. C. BlanketAdditionial Insured The following is added to the SECTION U - LIABILITY COVERAGE, Paragraph A.1.Who ieAm Insured Provision: Any person nrorganization that you are uequir0d tO Include cis an additional insured on this coverage form in a contract nreQneementthat is executed by you before the "bodily injury" or "property damage" occurs is an "insured" for liability onvaoaQe, buL on|y for damages to which this insurance epp8oa and only to the extent 'chat person or or�ganizaUon qualifies ou an "insured" under the Who Is An Insured provision conhainod in SECTION || - LIABILITY COVERAGE. The. insurance provided to the additional insured will be on o primary and non-000tribulfor beuio.1to the additional inaunyd'u own business auto coverage, if you Iara required hodouo in a contract oragreement that is executed by you before the "bodily injury" or .1 property damage" Occurs. D. BlanketWaiverOfSubrogation The following is added to the SECTION K/ - BUSINESS AUTO COND|T|O0S, A. Lnea Conditions, !i Transfer Of Rights Of Recovery Against Others To Us: We�waive any right ofrecovery wnmay have against any person or organization kzthe extent required of YOU by a contract executed prior to any "accident" or ~loaa^, provided that the "accident" or '`|mso^ ahmou ou( cfthe operations contemplated by such cuntnsoL The wa,iver applies only to the person or organization designated {nsuch contract. E. Employee Hired Autos The, following in added to [lie SECTION U - LIABILITY COVERAGE' Paragraph /\.1. Who Is An Insured Provision: An "employee" of yours is an "Insured" while operating an "auhO" hired or rented under a contract or -agreement in that "employee's' name, with your permiunion, while performing duties related intheconduct ofyour business, 2. Changes In General Conditions: Paragraph �b. of the Other Insurance Condition in the BUSINESS AUTO CONDITIONS isdeleted and replaced with the following: b. For Hired Auto Physical Damage Coverage, the following are deemed to be covered ^auhzn^you own: (1) Any covered "amo" you |oaue' h|na, nanL nrborrow" and (2) Any covered "auto" hired or ranted by your^employee^under acontract inthat indiVICIu-Al e'o^neme�Withyour pennisykon, whiie performing duhes n�eLed to the conduct of your 6uoinena. Hmxaver. any ''euhz" that is |eaoed, kinad' rented or borrowed with adr|ver is not a covered "auto". F. Fellow Employee Coverage SECTION U-LX\EULrTY COVERAGE Exclusion E\5. do -en "lot apply if you have worker compensation inmuroncein-force covering all of your employees, G. Auto Loan Lease Gap-Coverage�_ SECTION III - PHYSICAL. DAK0AGECOVERAGE, C. Limit Of Insurance, is emended by the addition oithe following: In the event of at total '')oaa^ to a covered "auto" shown in the Schedule ofDeclarations, we will pay any unpaid amount due on the lease Or loan for n oovened"autO^. |eao: