Fill and Sign the New Mexico Agreement or Contract for Deed for Sale and Purchase of Real Estate Aka Land or Executory Contract Form

Travelers Wrap for Private Companies Directors and Officers Liability Coverage Checklist Why your clients need our protection The personal assets of directors and officers are at risk with every decision they make, every day. And, if the directors and officers are sued for wrongdoing, chances are the company will be named in the action as well. In fact, a recent Tillinghast survey* shows that corporate entities are named as a defendant in 80 to 90 percent of lawsuits brought against directors and officers. And, even without shareholders, private companies are still at risk. On average, only 25 percent of directors and officers claims come from shareholders, with the remainder coming from other sources, such as vendors, customers, regulators and employees.* Wrap Broad definition of insured — includes the insured organization, including subsidiaries, as well as past, present or future directors, officers, international functional equivalents, members of a board of managers, employees, and members of management and advisory committees Broad definition of subsidiary — definition of Subsidiary includes majority owned corporations, partnerships, limited liability companies, other entities and 50 percent owned joint ventures under management control of named insured including appointment of general partner Their Policy Wrap Investigative expense of shareholder derivative complaints   Broad definition of claim Includes: • Written demand for monetary damages or non-monetary relief • Civil proceeding • Criminal proceeding • Formal administrative or regulatory proceeding • Arbitration or mediation or similar alternative dispute resolution proceeding • Written request to toll or waive statute of limitations • Security holder derivative demand • Service of subpoena on an insured person         Supplemental personal indemnification that responds to the first claim  Defense coverage: • For allegations against the insured for gaining a profit that the insured is not legally entitled to, until proven by final adjudication • For allegations of fraudulent, criminal or willful conduct until proven by final adjudication Definition of loss — includes multiplied damages, punitive damages and exemplary damages with most favorable venue wording     Outside Directorship Liability coverage (ODL): • Automatic coverage for insured persons who serve as a director, officer, trustee, etc. or functional equivalent for a Section 501(c)(3), 501(c)(4) or 501(c)(10) organization • Ability to schedule service on boards of for-profit organizations   No exclusions for: • Failure to maintain insurance • Anti-trust • Discrimination • Professional services or rendering services • Nuclear      Their Policy Travelers Wrap for Private Companies Directors and Officers Liability Coverage Checklist Wrap Exclusions include carvebacks for: • Shareholder derivative lawsuits regarding the pollution exclusion • Exempt transactions regarding the public securities exclusion • Bankruptcy trustees regarding the insured vs. insured exclusion • Claims brought by directors or officers who have not served in the past four years regarding the insured vs. insured exclusion • Employee-driven shareholder and employment practices claims regarding the insured vs. insured exclusion      Foreign parent corporation coverage extension  Worldwide coverage — applies to claims made and wrongful acts occurring anywhere in the world  Spousal and domestic partner liability coverage  Severability of exclusions: • All exclusions are severable with respect to insured persons • Full severability of fraudulent, criminal or willful conduct and personal profiteering exclusions   Insured organization includes debtor in possession  Defense option — option to select duty to defend or reimbursement coverage at policy inception  Duty to defend — 100 percent pre-determined allocation of defense expenses for claims against any insured consisting of loss that is and is not covered by policy  Additional defense coverage: • Option to select additional defense limit of liability • Survives exhaustion of base limit of liability   Their Policy Wrap Their Policy Extended reporting period: • Bi-lateral extended reporting period option — available if insurer or named insured cancels or fails to renew • Run-off extended reporting period option — available for a pre-determined premium upon change of control of named insured • Ability to report potential claims during extended reporting period or run-off extended reporting period  Non-cancelable by insurer ­ except for non— payment of premium  Acquisitions — automatic coverage for majority owned subsidiaries formed or acquired during the policy period with assets that do not exceed 30 percent of the total assets of the insured organization  Amended settlement provision — provides named insured with coverage for 70 percent of loss in excess of settlement offer rejected by named insured  Order of payments protecting personal assets first  Retentions: • Retention is waived if there is a finding of no liability • Only one retention must be satisfied when one claim triggers coverage under two or more liability coverages Representations — only knowledge and representations of signer of application are imputed to the insured organization      Travelers Wrap Help your clients get the protection they need, today and tomorrow * 007 Towers Perrin Directors and Officers Liability Survey of Insurance Purchasing and Claim Trends 2 Travelers Casualty and Surety Company of America and its property casualty affiliates One Tower Square Hartford, CT 06183 This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverage referenced in this document can depend on underwriting qualifications and state regulations. travelersbond.com © 2010 The Travelers Indemnity Company. All rights reserved. 59225 Rev. 6-10