4. If any Extended Reporting Period option is exercised, it cannot be terminated or modified by you or us. B. AUTOMATIC EXTENDED REPORTING PERIOD. If we or you choose to cancel or not renew this POLICY, this POLICY will apply to CLAIMS first made against you during the POLICY PERIOD and reported in writing to us during the sixty (60) days immediately following the date of cancellation or expiration. C. OPTIONAL EXTENDED REPORTING PERIODS. Subject to the above-identified terms and conditions, payment of all outstanding premiums or DEDUCTIBLES due, and your electing within sixty (60) days from the date of cancellation or non-renewal of the POLICY. The first sixty (60) days of the Optional Extended Reporting Period, if it is purchased, shall run concurrently with the Automatic Extended Reporting Period. The following Extended Reporting Periods are available: 1. If we or you choose to cancel or not renew the POLICY, you shall have the right to extend the time for reporting CLAIMS made against any INSURED under the POLICY per the following schedule. The additional premium for the Extended Reporting Period shall be: Extended Reporting Premium Period (as determined by this Section XIV. C.5.) 1 year 100% 2 years 150% 3 years 185% The FIRST NAMED INSURED must send us written notice of its intent to purchase the option along with the additional premium for the Extended Reporting Period within sixty (60) days of the cancellation or non-renewal of the POLICY. 2. In addition to the above, we will issue an Extended Reporting Period Endorsement for an unlimited period at no additional premium following the cancellation or non-renewal of this POLICY provided that: a. you, as an individual, are the sole owner and the sole producer; and b. you retire from the profession of insurance and your retirement is for reasons other than a suspension, revocation, or surrender of your license; and c. you have reached the age of 62 and have been insured by us for 10 consecutive years prior to the POLICY termination or cancellation. 3. In addition to the above, if you are the sole owner and sole producer, we will issue a 10 year Extended Reporting Period endorsement at no additional premium provided: a. cancellation or termination of the POLICY is due to your death or you are totally and permanently disabled during the POLICY PERIOD; and b. in the event of disability, you are continuously, totally, and permanently disabled from your profession for a minimum of six (6) months after issuance of this POLICY; and c. any death or total and permanent disability does not arise from a self-inflicted injury, suicide, alcohol, or drug abuse; and d. satisfactory written evidence of death or total and permanent disability is provided by you or your legal representative within sixty (60) days of death or total and permanent disability. SP 4 584 1215 Copyright ©2015 Westport Insurance Corporation. All rights reserved. Page 13 of 15 Insured Copy