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a. [f this Policy is canceled or non-rere.ved by tne Named Insured er us for any reason, or if an Insured
<br />is otherwise el igible for an extended reporting period option as set forth in sections H.2. or H.J. below, we
<br />sha!I, upon written request of the Named Insured, make an offer of an extended reporting period for the
<br />terminated coverage, subject to the followlr19 terms and conditions:
<br />(1) The Named Insured must make the request to us in writing, and pay the additiona l premium, If
<br />any, within sixty (50) days of cancellation or non-renewal of tiis Policy, or In the alternative, within
<br />tne time periods set fort, for the extenced reporting period options under H.2. or H.3. below; and,
<br />(2) Any extended reporting period, and all dalms reported thereunder, SNII be subj«t to all terms and
<br />conditions of this Policy,
<br />b. Any ~ended reportng period:
<br />(1) Must be evidenced by an endorsement issued by us in writing;
<br />(2) Will provide the Named Insured with an additional period of time as set forth in the er.corsemerit
<br />to report daims l\r>t made or brought against an Insured during ~e policy period or during the
<br />extended reportil":9 period;
<br />(J) Shall not constirute a new policy;
<br />(4) Shall not reinstate, Increase or renew tne Limits of Liability, and such limits shall be a part of, and
<br />r.ot in additJon to, the Umits of Uabilitt for the policy period; and,
<br />(5) Shall cover only these d.alms based upon or arising from wrongful acts committed by an Insured
<br />alter tt,e Policy retroactive date and before tne end of the policy period .
<br />c. The rig1t to any extenced reporting period encorsement is ex;,rassly extinguished if:
<br />(1) Any amount payable to us under t:he Policy has net been paid In accordance with the terms of
<br />payment, Ir.duding t:he failure to pay any premiums when due, or the failure to timely pay deductible
<br />amounts due and owing;
<br />(2) 1>-,1y Insured made material misrepresentations in t'ie Appl ication, supplements, addendums er
<br />attac:t,ments to tne Application or to urcerwriting Inquiries;
<br />(3) At the time ttiis opton could be exercised, the relevant Insured was not licensed to practice law, er
<br />had his er her license revoked, suspended or surrendered for any reason; or,
<br />(4) There Is er was any marenal ror.compHar.ce by an Insured Viith any of ttie ter.ns er conditions of
<br />this Polley.
<br />2. ~ion·?ractidng Extenced Reporting Period -Additional Temis &. Conditions
<br />Upon t'1e total and permanent retirement or cessation of tr,e rull-time or part-time practice of law, an Insured
<br />may be eligible for an ex-.enced reporting pe:iod encorsement, subject to tie followfng terms and ccrditions:
<br />a. Tl'~ relevant Insured retred or ceaS<?d the full-time er part-time practice of law, or leaves the private
<br />practice of law to become a state or federal Jt.ege, during t'1e policy period;
<br />b. Toe relevant Insured was, at tt:e time this opton could be exercised, a partner, principal, officer, director,
<br />sl')ar'ehold-:r or employed law·~r, otri!r than an lndepencent contnctor, who was paid under a ~ular
<br />payroll schedule or fim, dis trl butoo and had federal and stace (if ajlpflcable) taxes withheld b.y Named
<br />Insured ;
<br />c. The Named Insured was Insured by us for at least ~ree {J) co~utive years prior to the ~uest for
<br />the Non ,Practldng ~ed R~rtl ng Period and the rel evant Insured was employed by the Named
<br />Insured for ttiose s-a-n:-.e three (l) years ;
<br />d. The relevant Insured notifies us In writl!":9 of t!".eir retirement or cessation of the practlce of law and lnt?nt
<br />t o exercise this option within slxty (6-0) days of da ? the releva nt Insured retires or ceases tt,e practice of
<br />law , or at tt,,e end of the policy period whichever comes first: and,
<br />e. Coverage provided ur.de r the Non·Practi dng Ext~~ Reporting Pe ri od wi ll cease Immed iately upon an
<br />lnsured's resump tion of full or part tlrne practice or ra •l'I'. Howe~r, lnsureds perfonnlng ..-o!Ufltary or
<br />uncompensated legal services on a l'u ll er parMlm ~ bas s for or on behalf of not-for-profit
<br />ATY--0001--00·0116 © 2015 Attorney Protective. All rights reserved.
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