DECLARATIONS BANKERS PROFESSIONAL 15 Mountain View Road, Warren, New Jersey LIABILITY INSURANCE POLICY

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1 Chubb Group of Insurance Companies DECLARATIONS BANKERS PROFESSIONAL 15 Mountain View Road, Warren, New Jersey LIABILITY INSURANCE POLICY ITEM 1. Parent Organization (Name and Address): Policy Number: FEDERAL INSURANCE COMPANY Incorporated under the laws of Indiana, a stock, insurance company, herein called the Company Capital Center, 251 North Illinois, Suite 1100 Indianapolis, IN THIS IS A CLAIMS MADE POLICY. EXCEPT AS OTHERWISE PROVIDED HEREIN, THIS POLICY COVERS ONLY CLAIMS FIRST MADE AGAINST THE INSUREDS DURING THE POLICY PERIOD. THIS POLICY DOES NOT PROVIDE FOR ANY DUTY BY THE COMPANY TO DEFEND THOSE INSURED UNDER THIS POLICY. PLEASE READ CAREFULLY. ITEM 2. ITEM 3. Limits of Liability: (A) Each Loss $ (B) Aggregate Limit of Liability Each Policy Period $<CVGBANKERAGGLMT> NOTE: THE LIMITS OF LIABILITY AND ANY DEDUCTIBLE AMOUNTS ARE REDUCED OR EXHAUSTED BY DEFENSE COSTS. Coinsurance Percent: ITEM 4. Deductible Amount: $ ITEM 5. Policy Period: from: 12:01 a.m. on to: 12:01 a.m. on Local time at the address shown in ITEM 1. ITEM 6. Extended Reporting Period: (A) Additional Premium: $ (B) Additional Period: ITEM 7. ITEM 8. Pending or Prior Date: Endorsement(s) Effective at Inception: IN WITNESS WHEREOF, the Company issuing this Policy has caused this Policy to be signed by its authorized officers, but it shall not be valid unless also signed by a duly authorized representative of the Company. Secretary President Date Authorized Representative - Federal Form (Ed. 4-00) Page 1 of 1

2 Bankers Professional Liability Policy In consideration of payment of the premium and subject to the Declarations, limitations, conditions, provisions and other terms of this Policy, the Company agrees as follows: Insuring Clause 1. The Company shall pay on behalf of an Insured all Loss on account of any Claim first made against such Insured during the Policy Period or, if exercised, during the Extended Reporting Period, for a Wrongful Act before or during the Policy Period. Spousal Liability Extension 2. If a Claim against an Insured Individual includes a claim against the Insured Individual s lawful spouse solely by reason of such person s status as a spouse or such spouse s ownership interest in property which the claimant seeks as recovery for a Wrongful Act of such Insured Individual, all loss which the spouse becomes legally obligated to pay on account of such Claim shall be treated as Loss which the Insured Individual becomes legally obligated to pay on account of the Claim made against such Insured Individual. All limitations, conditions, provisions and other terms of coverage applicable to the Insured Individual s Loss shall also be applicable to the spousal loss. However, coverage shall not apply to the extent any claim alleges any Wrongful Act by the Insured Individual s spouse. Estates and Legal Representatives 3. Coverage shall extend to any Claim made against the estates, heirs, legal representatives or assigns of Insured Individuals who are deceased, incompetent, insolvent or bankrupt. Extended Reporting Period 4. If this Policy is terminated or nonrenewed for any reason other than for nonpayment of premium, then the Parent Organization, on behalf of the Insureds shall have the right, upon payment of the additional premium set forth in ITEM 6.(A) of the Declarations, to an extension of the coverage granted by this Policy for the period set forth in ITEM 6.(B) of the Declarations following the effective date of termination or nonrenewal with respect to any Claim made during the Extended Reporting Period, but only for any Wrongful Act occurring prior to the effective date of termination or nonrenewal. This right of extension shall lapse unless written notice of such election, together with payment of the additional premium due, is received by the Company within thirty (30) days following the effective date of termination or nonrenewal. Any Claim made during the Extended Reporting Period shall be deemed to have been made during the immediately preceding Policy Period. If the Extended Reporting Period is purchased, the entire premium noted in ITEM 6.(A) of the Declarations shall be deemed fully earned at the inception of the Extended Reporting Period. Exclusions 5. The Company shall not be liable to make any payment for Loss in connection with any Claim: a. based upon, arising from, or in consequence of any demand, suit or other proceeding pending, or order, decree or judgement entered for or against any Insured on or prior to the Pending or Prior Date set forth in the Declarations, or the same or substantially the same fact, circumstance or situation underlying or alleged therein; Form (Ed. 4-00) Page 1 of 12

3 b. based upon, arising from, or in consequence of deliberate conflicts of interest, any dishonest, deliberately criminal or deliberately fraudulent act or omission, acting in bad faith, gaining any profit or advantage to which one is not legally entitled, or deliberate non-compliance with any statute or related regulation on the part of an Insured or any person for whose actions the Insured is legally liable. However, this Exclusion shall not apply unless it is established in fact that such Claim was brought about or contributed to by any deliberate conflicts of interest, dishonest, deliberately criminal or deliberately fraudulent act or omission, acting in bad faith, gaining any profit or advantage to which one is not legally entitled or deliberate non-compliance with any statute or related regulation on the part of an Insured or any person for whose actions the Insured is legally liable; c. based upon, arising from, or in consequence of: (1) any Wrongful Act or any fact, circumstance or situation that has been the subject of notice under any policy of insurance in effect prior to the inception date of this Policy, or (2) any Wrongful Act, whenever occurring, which together with a Wrongful Act that has been the subject of such notice would constitute Interrelated Wrongful Acts; d. based upon, arising from, or in consequence of: (1) the insolvency of any bank, banking firm, broker, or dealer in securities, or any other person or entity, or the inability of any such entity or person to make any payment or settle or effect any transaction of any kind. However, this Exclusion shall not apply to Wrongful Acts solely in connection with an Insured s investment on behalf of the claimant in the stock of any of the foregoing entities; or (2) Financial Impairment; e. based upon, arising from, or in consequence of an actual or alleged violation of the responsibilities, obligations or duties imposed by the Employee Retirement Income Security Act of 1974, as amended, or similar provisions of any federal, state, or local statutory law or common law as respects any pension, profit sharing, health and welfare or other employee benefit plan or trust established or maintained for the purpose of providing benefits to employees of an Insured Organization; f. for discrimination, libel, slander, wrongful termination of employment, disparagement, sexual harassment, violation of rights of privacy, wrongful entry, eviction, false arrest, false imprisonment, malicious prosecution, assault or battery; g. for bodily injury, mental or emotional distress, sickness, disease, or death of any person, or damage to or destruction of any tangible property including loss of its use; Form (Ed. 4-00) Page 2 of 12

4 Exclusions h. based upon, arising from, or in consequence of: (1) the actual, alleged or threatened discharge, release, escape, seepage, migration, dispersal or disposal of Pollutants into or on real or personal property, water or the atmosphere, or (2) any direction or request that any Insured test for, monitor, clean up, remove, contain, treat, detoxify or neutralize Pollutants, or any voluntary decision to do so, including but not limited to any Claim for financial loss to any Insured Organization, its security holders or its creditors based upon, arising from, or in consequence of the matters above; i. by, on behalf of, or at the behest of an Insured against any other Insured, or by, on behalf of, or at the behest of any business enterprise which is operated, managed or owned, directly or indirectly, in whole or in part by an Insured. However, this Exclusion shall not apply: (1) to any Claim for a Wrongful Act in which the claimant is an Insured Individual and such Claim is brought solely in his or her capacity as a customer of the Insured Organization, and (2) to a Claim brought without the solicitation, assistance or participation of any other Insured, or (3) to a Claim brought or maintained by an Insured Individual for contribution or indemnity, if the Claim directly results from another Claim covered under this Policy; j. based upon, arising from, or in consequence of liability assumed by any Insured pursuant to a contract, except liability for Loss that the Insured would have had in the absence of such contract; k. by, on behalf of, or at the behest of any person or concern (including but not limited to any shareholder, bondholder, or debenture holder), their estate, heirs, legal representatives or assigns, with a legal or equitable interest in any stock, bond, debenture, or other form of security or ownership interest of the Insured Organization, when such Claim is based upon, arises out of, or pertains to any interest in such security or ownership interest. However, this Exclusion shall not apply: (1) to any Claim for a Wrongful Act in which an Insured Individual was provided with or was entitled to be provided with Professional Services and such Claim is brought solely in his or her capacity as a customer of the Insured Organization, and (2) to a Claim brought without the solicitation, assistance or participation of any other Insured; l. based upon, arising from, or in consequence of the purchase, sale, participation, syndication, grant, commitment, restructure, termination, transfer, repossession or foreclosure of any loan, lease or extension of credit, or any failure to do any of the foregoing, or the rendering of advice in connection with any loan, lease or extension of credit; Form (Ed. 4-00) Page 3 of 12

5 Exclusions m. based upon, arising from, or in consequence of: (1) the underwriting, securitizing, syndicating, promoting, or market making (as defined in section 3(A)(38) of the Securities Exchange Act of 1934 as amended) of any debt or equity security or other evidence of indebtedness, or any other similar investment banking activity, (2) rendering advice or recommendations regarding any actual, attempted or threatened merger, acquisition, divestiture, tender offer, proxy contest, leveraged buy-out, going private transaction, insolvency proceeding, reorganization, capital restructuring, recapitalization, spin-off, primary or secondary offering of debt or equity securities or other evidence of indebtedness, dissolution or sale of all or substantially all of the assets, debt or securities of a business entity or any effort to raise or furnish capital or financing for any enterprise or entity, (3) the rendering of fairness opinions regarding the valuation of any assets or business entity not held by the Insured as trustee, (4) any acquisition or sale of securities by the Insured for such Insured s own account, or any disclosure requirements or Loan Servicing in connection with any of the foregoing; n. based upon, arising from, or in consequence of disputes involving fees or charges for the Insured s services. However, this Exclusion shall not apply to Defense Costs incurred in connection with such Claim; o. based upon, arising from, or in consequence of any function or activity as a receiver, trustee in bankruptcy, conservator or assignee for the benefit of creditors; or p. based upon, arising from, or in consequence of any Insured s service as a director, officer, trustee, employee or member of any entity other than the Insured Organization, even if directed or requested to serve such other entity. Severability of Exclusions 6. With respect to the Exclusions of this Policy, no fact pertaining to or knowledge possessed by any Insured Individual shall be imputed to any other Insured Individual to determine if coverage is available. Limit of Liability, Coinsurance Percents and Deductible Amount 7. All Loss arising out of the same Wrongful Act and all Interrelated Wrongful Acts of the Insured shall be deemed one Loss, and such Loss shall be deemed to have originated in the earliest Policy Period in which a Claim is first made against the Insured alleging any such Wrongful Act or Interrelated Wrongful Acts. The Company s maximum liability for each Loss, shall be the limit of Liability for each Loss set forth in the Declarations. The Company s maximum aggregate liability for all Loss on account of all Claims first made during the same Policy Period, shall be the Aggregate Limit of Liability for each Policy Period set forth in the Declarations. Form (Ed. 4-00) Page 4 of 12

6 Limit of Liability, Coinsurance Percents and Deductible Amount The Company s liability under this Policy shall apply only to that part of each Loss which is excess of the Deductible Amount set forth in the Declarations and such Deductible Amount shall be borne by the Insured uninsured and at the Insured s own risk. With respect to all Loss (excess of the Deductible Amount) originating in any one Policy Period, the Insured shall bear uninsured that percent of all such Loss specified as the Coinsurance Percent in the Declarations, and the Company s liability hereunder shall apply only to the remaining percent of all such Loss. The Limits of Liability available during the Extended Reporting Period, if exercised, shall be the remaining portion, if any, of the Aggregate Limit of Liability provided in the immediately preceding Policy Period. Defense and Settlement 8. It shall be the duty of the Insured and not the duty of the Company to defend Claims made against the Insured. The Insured shall have the sole obligation under this Policy to retain defense counsel, which shall be subject to the approval of the Company, which shall not be unreasonably withheld. The Insured agrees not to settle any Claim, incur any Defense Costs or otherwise assume any contractual obligation or admit any liability with respect to any Claim without the Company s written consent, which shall not be unreasonably withheld. The Company shall not be liable for any settlement, Defense Costs, assumed obligation or admission to which it has not consented. The Company may make any investigation it deems necessary and may, with the consent of the Parent Organization on behalf of the Insureds, settle any Claim. The Company shall have the right and shall be given the opportunity to associate with the Insured in the investigation, defense and settlement, including but not limited to the negotiation of a settlement, of any Claim that appears reasonably likely to be covered in whole or in part by this Policy. The Insured agrees to provide the Company with all information, assistance and cooperation which the Company reasonably requests and agree that, in the event of a Claim, the Insured will do nothing that may prejudice the Company s position or its potential or actual rights of recovery. Defense Costs are part of and not in addition to the Limits of Liability set forth in the Declarations and the payment by the Company of Defense Costs reduces such Limits of Liability. Allocation 9. If both Loss covered by this Policy and loss not covered by this Policy are incurred, either because a Claim against an Insured includes both covered and uncovered matters or because a Claim is made against both an Insured and others, the Insured and the Company shall use their best efforts to agree upon a fair and proper allocation of such amount between covered Loss and uncovered loss. The determination of a fair and proper allocation shall take into account the relative legal and financial exposures of, and relative benefits obtained in connection with the defense and/or settlement of a Claim by, the Insureds. Form (Ed. 4-00) Page 5 of 12

7 Allocation If the Insured and the Company agree on an allocation of Defense Costs, the Company shall advance on a current basis Defense Costs allocated to the covered Loss. If the Insured and the Company cannot agree on an allocation: a. no presumption as to allocation shall exist in any arbitration, suit or other proceeding, b. the Company shall advance on a current basis Defense Costs which the Company believes to be covered under this Policy until a different allocation is negotiated, arbitrated or judicially determined, and c. the Company, if requested by the Insured shall submit the dispute to binding arbitration. The rules of the American Arbitration Association shall apply except with respect to the selection of the arbitration panel, which shall consist of one arbitrator selected by the Insured, one arbitrator selected by the Company, and a third independent arbitrator selected by the first two arbitrators. Any negotiated, arbitrated or judicially determined allocation of Defense Costs on account of a Claim shall be applied retroactively to all Defense Costs on account of such Claim, notwithstanding any prior advancement to the contrary. Any allocation or advancement of Defense Costs on account of a Claim shall not apply to or create any presumption with respect to the allocation of other Loss on account of such Claim. Reporting and Notice 10. The Insured shall, as a condition precedent to exercising rights under this Policy, give to the Company written notice as soon as practicable, but in no event later than ninety (90) days after the termination of the Policy Period, of any Claim made against the Insured for a Wrongful Act. If any Insured becomes aware of circumstances which could give rise to a Claim and gives written notice of such circumstances to the Company during the Policy Period, then any Claims subsequently arising from such circumstances shall be considered to have been made during the Policy Period in which the circumstances were first reported to the Company. The Insured shall, as a condition precedent to exercising their rights under this Policy, give to the Company such information and cooperation as it may reasonably require, including but not limited to a description of the Claim or circumstances, the nature of the Wrongful Act, the nature of the alleged or potential damage, the names of the actual or potential claimants, and the manner in which the Insured first became aware of the Claim or circumstances. Notice 11. Notice to the Company under this Policy shall be given in writing addressed to: Notice of Claim: All Other Notices: Home Office Claims Department Department of Financial Institutions Chubb Group of Insurance Companies Chubb Group of Insurance Companies 15 Mountain View Road 15 Mountain View Road Warren, N.J Warren, N.J Such notice shall be effective on the date of receipt by the Company at such address. Form (Ed. 4-00) Page 6 of 12

8 Other Insurance 12. If Loss arising from any Claim made against any Insured is insured under any other valid policies, prior or current, then such Loss shall be covered hereunder, subject to all limitations, conditions, provisions and other terms hereunder, only to the extent that the amount of such Loss is in excess of the amount of payment from such other insurance whether such other insurance is stated to be primary, contributory, excess, contingent or otherwise, unless such other insurance is written only as specific excess insurance over the Limits of Liability in this Policy. Changes in Exposure 13. Acquisition or Creation of Another Organization a. If, after the inception date of this Policy, an Insured Organization: (1) acquires securities or voting rights in another organization, or creates another organization, which becomes a Subsidiary, or (2) acquires any organization by merger or consolidation with an Insured Organization, then coverage shall apply to such organization under this Policy, but only with respect to Wrongful Acts or Interrelated Wrongful Acts where all or part of such acts occurred after such acquisition or creation, unless the Company agrees, after presentation of a complete application and all appropriate information, to provide coverage by endorsement for Wrongful Acts occurring prior to such acquisition or creation; and Acquisition Threshold b. If: Acquisition of Parent Organization by Another Organization c. If: (1) the fair value of the assets of the acquired organization exceeds 15% of the combined total assets of all Insured Organizations as reflected in their most recent audited consolidated financial statements, or (2) the value of the fiduciary assets under management by the acquired organization exceeds 15% of the combined total fiduciary assets under management of all Insured Organizations as reflected in their most recent audited consolidated financial statements, then the Parent Organization shall give written notice of such acquisition to the Company as soon as practicable together with such information as the Company may require, and shall pay any reasonable additional premium. (1) the Parent Organization merges or consolidates with another organization, (2) another organization, person or group of organizations or persons acting in concert acquires securities or voting rights which result in ownership or voting control by the other organization or person of more than 50% of the outstanding securities representing the present right to vote for the election of directors of the Parent Organization, Form (Ed. 4-00) Page 7 of 12

9 Changes in Exposure Acquisition of Parent Organization by Another Organization Cessation of Subsidiaries (3) the Insured Organization completely ceases to actively engage in its primary business ( cessation ), or (4) Financial Impairment occurs, then coverage under this Policy shall continue until termination of this Policy, but only with respect to Claims where all or part of the Wrongful Acts or Interrelated Wrongful Acts occurred prior to such merger, consolidation, acquisition, cessation or Financial Impairment. The Parent Organization shall give written notice of such merger, consolidation, acquisition, cessation or Financial Impairment to the Company as soon as practicable, together with such information as the Company may require. The full premium for the Policy Period shall be deemed fully earned immediately upon the occurrence of any event outlined in (1) through (4) above. d. In the event an organization ceases to be a Subsidiary before or after the inception date of this Policy, then coverage under this Policy with respect to such Subsidiary and its Insured Individuals shall continue until termination of this Policy, but only with respect to Claims for Wrongful Acts occurring prior to the date such organization ceased to be a Subsidiary. Representations, Application Form and Severability 14. It is agreed by the Insured that the particulars and statements contained in the written application and the attachments and materials submitted with the written application (which shall be retained on file by the Company and shall be deemed attached hereto, as if physically attached hereto) are true and are the basis of this Policy and are to be considered as incorporated in and constituting a part of this Policy. It is further agreed by the Insured that such particulars and statements are material to the decision to issue this Policy and that the Policy is issued in reliance upon the truth of such particulars and statements. Such written application for coverage shall be construed as a separate application for coverage by each Insured Individual. With respect to the declarations and statements in the written application for coverage, to determine if coverage is available: a. all facts pertaining to and knowledge possessed by any past, present or future chief financial officer, in-house general counsel, chief executive officer, president or chairman of any Insured Organization shall be imputed to the Insured Organization, and b. no declaration or statement in the application or knowledge possessed by any Insured Individual shall be imputed to any other Insured Individual. Territory 15. Coverage shall extend anywhere in the world. Form (Ed. 4-00) Page 8 of 12

10 Valuation and Foreign Currency 16. All premiums, limits, deductibles, Loss and other amounts under this Policy are expressed and payable in the currency of the United States of America. If judgement is rendered, settlement is denominated or any element of Loss under this Policy is stated in a currency other that United States dollars, payment under this Policy shall be made in United States dollars at the rate of exchange published in The Wall Street Journal on the date the final judgement is entered, the amount of the settlement is agreed upon or any part of Loss is due. Subrogation 17. In the event of any payment under this Policy, the Company shall be subrogated, to the extent of such payment, to all the Insured s rights of recovery, and such Insured shall execute all papers required and shall do everything necessary to secure and preserve such rights, including the execution of such documents necessary to enable the Company effectively to bring suit in the name of such Insured. Action Against the Company 18. No action shall lie against the Company unless as a condition precedent thereto, there shall have been full compliance with all the terms of this Policy. No person or organization shall have any right under this Policy to join the Company as a party to any action against any Insured to determine such Insured s liability, nor shall the Company be impleaded by such Insured or the Insured s legal representatives. Bankruptcy or Insolvency 19. Bankruptcy or insolvency of an Insured Individual or the estate of such Insured Individual shall not relieve the Company of its obligations nor deprive the Company of its rights under this Policy. Authorization Clause 20. By acceptance of this Policy, the Parent Organization agrees to act on behalf of all Insureds with respect to the giving and receiving of notice of Claim or termination, the payment of premiums and the receiving of any return premiums that may become due under this Policy, the negotiation, agreement to and acceptance of endorsements, and the giving or receiving of any notice provided for in this Policy, and each Insured agrees that the Parent Organization shall act on behalf of such Insured. Alteration or Assignment 21. No change in, modification of, or assignment of interest under this Policy shall be effective except when made by a written endorsement to this Policy which is signed by a duly authorized representative of the Company. Form (Ed. 4-00) Page 9 of 12

11 Termination of Policy 22. This Policy shall terminate at the earliest of the following times: a. upon the receipt by the Company of written notice of termination from the Parent Organization, b. upon expiration of the Policy Period as set forth in the Declaration of this Policy, c. ten (10) days after receipt by the Parent Organization of a written notice of termination from the Company based upon nonpayment of premium, d. sixty (60) days after receipt by the Parent Organization of a written notice of nonrenewal from the Company, or e. at such other time as may be agreed upon by the Company and the Parent Organization. The Company shall refund the unearned premium computed at customary short rates if the Policy is terminated by the Parent Organization. Under any other circumstances the refund shall be computed pro rata. Definitions 23. a. Claim means: (1) a written demand for monetary damages, (2) a civil proceeding commenced by the service of a complaint or similar pleading, (3) a criminal proceeding commenced by a return of an indictment, or (4) a formal administrative or regulatory proceeding commenced by the filing of a notice of charges, formal investigative order or similar document, against an Insured for a Wrongful Act, including any appeal therefrom. A Claim shall be deemed to have been made against the Insured on the date any Insured first received written demand for monetary damages, the date that notice of judicial or administrative proceeding is served upon any Insured in any state, provincial or federal court or administrative agency, or the date any Insured first received written notice regarding the filing of a notice of charges, formal investigative order or similar document from a state, provincial or federal regulatory agency. b. Defense Costs means reasonable costs, charges, fees (including but not limited to attorneys fees and experts fees) and expenses (other than regular or overtime wages, salaries or fees of the directors, officers or employees of the Insured Organization) incurred in defending or investigating Claims and the premium for appeal, attachment or similar bonds. c. Financial Impairment means: (1) the appointment by any state or federal official, agency or court of any receiver, conservator, liquidator, trustee, rehabilitator or similar official to take control of, supervise, manage or liquidate the Insured Organization, or (2) the Insured Organization becoming a debtor in possession. Form (Ed. 4-00) Page 10 of 12

12 Definitions d. Insured means the Insured Organization and the Insured Individuals, or any of them. e. Insured Individual means any past, present or future director, officer or employee of the Insured Organization in his or her capacity as a director, officer or employee of the Insured Organization. f. Insured Organization means the Parent Organization and any Subsidiary. g. Interrelated Wrongful Acts means all causally connected Wrongful Acts. h. Loan Servicing means with respect to any loan, lease or extension of credit: (1) record keeping, billing and disbursements of principal or interest, receipt or payment of insurance premiums and taxes, (2) credit reporting or statements of a customer s creditworthiness, (3) determination of the depreciation amount of property other than a projection of or an appraisal for residual or future value of property, or (4) any similar administrative activity. i. Loss means the total amount which any Insured becomes legally obligated to pay on account of each Claim or for all Claims in each Policy Period and the Extended Reporting Period, if exercised, for which coverage applies, including, but not limited to, damages, judgements, settlements, costs and Defense Costs. Loss does not include: (1) regular or overtime wages, salaries or fees of the Insured Individuals, (2) diminution in value or damages resulting from the diminution in value of money, securities, property or any other item of value unless caused by a Wrongful Act of an Insured in the execution or implementation of investment advice or investment decisions, (3) loss of the actual money, securities, property or other items of value in the custody or control of an Insured, (4) fines or penalties imposed by law, including but not limited to punitive or exemplary damages, the multiple portion of any multiplied damage award, or other sanctions which may be deemed uninsurable under the law pursuant to which this Policy shall be interpreted, (5) amounts otherwise reimbursable to an Insured by any trust, estate, plan or fund or any similar entity or the sponsor of any such trust, estate, plan or fund or any similar entity, or (6) principal, interest, or other monies either paid, accrued or due as the result of any loan, lease or extension of credit. Form (Ed. 4-00) Page 11 of 12

13 Definitions j. Parent Organization means the entity that is named in the Declarations, as legally constituted at the inception date of this Policy. k. Policy Period means the period of time specified in the Declarations, subject to prior termination in accordance with Section 22. If this period is less than or greater than one year, then the Limits of Liability specified in the Declarations shall be the Company s maximum limit of liability under this Policy for such period. l. Pollutants means any substance located anywhere in the world exhibiting any hazardous characteristics as defined by, or identified on a list of hazardous substances issued by, the United States Environmental Protection Agency or any state, county, municipality or locality counterpart thereof. Such substances shall include, without limitation, solids, liquids, gaseous or thermal irritants, contaminants or smoke, vapor, soot, fumes, acids, alkalis, chemicals or waste materials. Pollutants shall also mean any other air emission, odor, waste, water, oil or oil products, infectious or medical waste, asbestos or asbestos products and any noise. m. Professional Services means Loan Servicing and only those services performed or required to be performed by an Insured for or on behalf of a customer of an Insured, pursuant to an agreement between such customer and such Insured: (1) for a fee, commission or other monetary consideration, (2) where a fee, commission or other monetary consideration would usually be received by the Insured but for business or other reasons is waived by the Insured, or (3) for other remuneration which inures to the benefit of such Insured. Professional Services shall not include: (1) medical or health care services, real estate appraisal services, architectural or construction management services, the practice of law or the rendering of legal services, or (2) services performed by any entity which the Insureds shall have acquired ownership or control as security for a loan or other extension of credit. n. Subsidiary means any organization that, at the inception date of this Policy, is named in the written application and of which more than 50% of the outstanding securities or voting rights representing the present right to vote for election of directors is owned or controlled by the Parent Organization either directly or through one or more of its Subsidiaries or any entity of which more than 50% of the outstanding securities or voting rights representing the right to vote for election of directors was owned or controlled by the Parent Organization either directly or through one or more of its Subsidiaries prior to the inception date of this Policy. o. Wrongful Act means any error, misstatement, misleading statement, act, omission, neglect or breach of duty committed, attempted, or allegedly committed or attempted, by an Insured which arises solely from the performance of or the failure to perform Professional Services. For the purposes of these definitions, the singular includes the plural and the plural includes the singular, unless otherwise indicated. Form (Ed. 4-00) Page 12 of 12

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