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Endorsement Endorsement Effective: Policy No.: Named Insured: a. Not to renew this Policy; or b. To condition its renewal upon change of limits, change in type of coverage, reduction of coverage, increased retention or addition of exclusion, or upon increased premiums in excess of ten percent (exclusive of any premium increase generated as a result of increased exposure units, or as a result of experience rating, loss rating, retrospective rating or audit), except that we may also, consistent with regulations promulgated by the superintendent, condition its renewal upon requirements relating to the underlying coverage, in which event the conditional renewal notice shall be treated as an effective notice of non-renewal if such requirements are not satisfied as of the later of the expiration date of this Policy or sixty (60) days after mailing or delivery of such notice; or c. That this Policy will not be renewed or will not be renewed upon the same terms, conditions or rates; such alternative renewal notice must be mailed or delivered on a timely basis and advise the insured that a second notice shall be mailed or delivered at a later date indicating our intention as specified in subparagraph (a) or (b) of this Section and that coverage shall continue on the same terms, conditions and rates as the expiring Policy, until the later of the expiration date or sixty (60) days after the second notice is mailed or delivered; such alternative renewal notice also shall advise you of the availability of loss information pursuant to subsection (g) of New York Insurance section 3426 and, upon written request, we shall furnish such loss information within ten (10) days consistent with the provisions of such subsection. The notice required shall be mailed or delivered at least thirty (30), but not more than one hundred twenty (120), days in advance of the expiration date of this Policy. All paragraphs in this subsection shall not apply when you, an agent or broker authorized by you, or another insurer of yours has mailed or delivered written notice that this Policy has been replaced and is no longer desired. VI. Part Six is amended to add the following sections: K. In the event you cannot be located to proceed before the Workers’ Compensation Board, we agree that: 1. Notice or knowledge of the occurrence of the injury by you is deemed notice or knowledge by us, subject to the terms and conditions of this Policy; 2. We agree to be bound by and subject to the orders, findings, decisions or awards rendered against you by the Workers’ Compensation Board for payment or compensation under Workers’ Compensation Law as limited by and in accordance with the terms and conditions of this Policy (and subject to the applicable Retention) for the amount of the judgment, after the applicable Retention, but in no event shall our obligation exceed this Policy’s applicable Limit of Liability; 3. Where a judgment against you remains unsatisfied at the expiration of thirty (30) days from the serving of notice of entry of judgment upon you or your attorney, and upon us, then an action may, except during a stay or limited stay of execution against you on such a judgment, be maintained against us subject to the terms and conditions of this Policy (and subject to the applicable Retention) for the amount of the judgment, after the applicable Retention, but in no event shall our obligation exceed this Policy’s applicable Limit of Liability; provided however, we will not pay an injured employee directly or indirectly for amounts within your Retention in the event you fail to make such payments on your own. Furthermore, an employee of yours may not make a direct claim against us for amounts covered in this Policy in the event of your insolvency or termination of operations. CMB-NY (8-13) Page 3 of 4 Date Printed: Page 48 of 201