X. REIMBURSEMENT TO COMPANY If we have paid any amounts as DAMAGES in satisfaction of any CLAIM in excess of the applicable Limit of Liability, or have paid DAMAGES within the amount of the applicable DEDUCTIBLE, you shall be liable to us for any and all such amounts and shall pay such amounts to us within thirty (30) days of our demand. XI. CHANGES No change or modification of this POLICY shall be effective except when made by a written endorsement to this POLICY which is signed by our authorized representative. XII. NO ASSIGNMENT Neither this POLICY nor any INSURED’S interest in this POLICY may be assigned without our written consent. XIII. TERMINATION OF COVERAGE The POLICY shall terminate at the earliest of the following: A. if the POLICY is terminated for failure to pay a premium when due, the effective date of the cancellation stated in a written notice of cancellation from us to the FIRST NAMED INSURED, provided such notice is sent by us a least ten (10) days prior to the effective date of cancellation. The mailing of such notice to the FIRST NAMED INSURED shall be sufficient notice and the effective date of cancellation stated in the notice shall become the end of the POLICY PERIOD. Any earned premium shall be computed pro rata; B. if the POLICY is terminated by us for any reason other than non-payment of premium, the effective date of the cancellation stated in our written notice of cancellation, provided the FIRST NAMED INSURED receives such notice at least thirty (30) days prior to the effective date of cancellation. The mailing of such notice to the FIRST NAMED INSURED shall be sufficient notice and the effective date of cancellation stated in the notice shall become the end of the POLICY PERIOD. Any earned premium shall be computed pro rata; C. upon the surrender of the POLICY by the FIRST NAMED INSURED to us or upon our receipt of your written notice of termination stating when thereafter such cancellation shall be effective; Any earned premium shall be computed in accordance with the customary short rate table and procedure; or D. upon expiration of the POLICY PERIOD as set forth in the Declarations. E. Other than for nonpayment of premium as provided for in the paragraph A. above, and notwithstanding any provision to the contrary in this POLICY or in any state amendatory endorsement which may be attached to this POLICY providing more restrictive language, if this POLICY has been in force for 60 days or more, we will not cancel the POLICY mid-term. XIV. EXTENDED REPORTING PERIOD: A. EXTENDED REPORTING PERIOD TERMS. The following provisions are applicable to all Extended Reporting Periods: 1. The extended reporting periods cover CLAIMS arising out of WRONGFUL ACTS that occurred prior to cancellation or expiration of the POLICY and on or after any RETROACTIVE DATE applicable to the expired or terminated POLICY. 2. If you have obtained a replacement POLICY, the Extended Reporting Period will apply only in the event the replacement POLICY limits have been exhausted for a CLAIM that qualifies for coverage under this section. 3. The Limit of Liability during the final POLICY PERIOD immediately preceding the cancellation or non-renewal of the POLICY shall apply to CLAIMS reported during the final POLICY PERIOD together with CLAIMS reported during the Extended Reporting Period. SP 4 584 1215 Copyright ©2015 Westport Insurance Corporation. All rights reserved. Page 12 of 15 Insured Copy