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BERKLEY INSURANCE COMPANY <br />A Stock Insurance Company <br />Lawyers Professional Liability Insurance <br />Declarations Page <br />NOTICE: THIS POLICY PROVIDES COVERAGE ON A CLAIMS MADE AND REPORTED BASIS SUBJECT TO ITS TERMS. THIS POLICY APPLIES ONLY <br />TO ANY CLAIM FIRST MADE AGAINST THE INSUREDS AND REPORTED TO THE INSURER DURING THE POLICY PERIOD OR ANY EXTENDED <br />REPORTING PERIOD THAT MAY APPLY. <br />PLEASE READ AND REVIEW THE POLICY CAREFULLY AND DISCUSS THE COVERAGE WITH YOUR INSURANCE AGENT OR BROKER, <br />IF INDICATED IN ITEM 5. A. BELOW, THE LIMIT OF LIABILITY AVAILABLE TO PAY DAMAGES OR SETTLEMENTS SHALL BE REDUCED AND MAY <br />BE COMPLETELY EXHAUSTED BY AMOUNTS INCURRED AS LEGAL DEFENSE COSTS. THE INSURER SHALL NOT BE LIABLE FOR LEGAL <br />DEFENSE COSTS OR FOR THE AMOUNT OF ANY JUDGMENT OR SETTLEMENT AFTER EXHAUSTION OF THE LIMIT OF LIABILITY. <br />Whenever printed in this Declarations Page, the boldface type terms shall have the same meanings as indicated in the Policy. <br />Item 1. Name and Address of Named Insured: <br />Holstad & Knaak, PLC Attorneys at Law <br />4501 Allendale Drive <br />Saint Paul, MN 55127 <br />Item 2. Policy Period: From June 14, 2020 (inception date) to June 14, 2021 (expiration date) <br />(Both dates at 12:01 a.m. Standard Time at the address of the Named Insured) <br />Item 3. Limits of Liability for the Policy Period: <br />A. $2,000,000 each Claim, but in no event exceeding <br />B. $2,000,000 in the aggregate for all Claims <br />Item 4. Supplemental Coverages Limit of Liability: <br />$100,000 in the aggregate for all Supplemental Coverages during the Policy Period <br />Item 5. Claim Expenses for the Policy Period: <br />❑ A. Claim Expenses Reduce the Limit of Liability in Item 3. above <br />El B. Claim Expenses in Addition to the Limit of Liability in Item 3. above <br />Claim Expense Limit: $2,000,000 in the aggregate for all Claims during the Policy Period <br />Item 6. Deductible: <br />Policy Number: PLP-1382855-P6 <br />El A. Aggregate Deductible - All Claims $5,000 <br />❑ B. Each Claim Deductible NIA <br />❑ I. The Deductible applies to Damages and Claim Expenses <br />Ei ii. The Deductible applies only to Damages <br />Item 7. Death or Disability and Non -Practicing Extended Reporting Period Limit of Liability (inclusive of Damages and Claim <br />Expenses): <br />A. $2,000,000 each Claim, but in no event exceeding <br />B. $2,000,000 in the aggregate for all Claims <br />Item 8. Premium: $12,186 <br />LPL 39401 (rev. 07-16) <br />Producer: Kathy S. Van Weelden Page 1 of 2 <br />