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HISCOX <br />DPL P001 Cw (05/13) <br />2. the defense of any criminal investigation, criminal grand jury proceeding, or <br />criminal action. <br />E. Damages means a monetary judgment or monetary award that You are legally <br />obligated to pay (including pre- or post -judgment interest) or a monetary settlement <br />negotiated by Us with Your consent. <br />Damages shall not mean and We shall not be obligated to pay: <br />1. fines, penalties, taxes, sanctions levied against You; <br />2. any punitive or exemplary damages or that portion of any multiplied damages <br />award which exceeds the damage award so multiplied, provided, however, that, <br />if such damages are otherwise insurable under applicable law and regulation, <br />We will pay an award of punitive or exemplary damages in excess of the <br />Deductible and up to a maximum sum of $250,000. This limit shall be a part of <br />and not in addition to the Limit of Liability set forth in Items 3. of the <br />Declarations; <br />3. the return, reduction or restitution of Your fees, commissions, profits, or charges <br />for goods provided or services rendered, including any over -charges or cost <br />over -runs; <br />4. liquidated damages; or <br />5. Your cost of complying with injunctive relief. <br />F. Effective Control means: <br />1. ownership of more than 50% of the issued and outstanding voting securities; or <br />2. having the right pursuant to written contract, by-laws, charter, operating <br />agreement or similar documents to elect, appoint or designate a majority of the <br />board of directors, management committee members of a partnership or the <br />members of the management board of a limited liability company (or equivalent <br />management structure). <br />G. Employee means any past, present or future: <br />1. employee (including any part-time, seasonal or temporary employee or any <br />volunteer); <br />2. partner, director, officer, member or board member (or equivalent position); <br />3. independent contractor; or <br />4. leased worker; <br />of an Organization, but only in their performance of Professional Services on <br />behalf of or at the direction of such Organization. <br />H. Insured means You or Your. <br />I. Named Insured means the individual, corporation, partnership, limited liability <br />company, limited partnership, or other entity set forth in Item 1 of the Declarations. <br />J. Optional Extended Reporting Period means any applicable Optional Extended <br />Reporting Period contemplated by the OPTIONAL EXTENDED REPORTING <br />PERIOD Clause. <br />1s, WdtMnugrntentDft&1un <br />A."i CCREme&eo & APPR�CYVM Br.. <br />' r'7ff�GN"l �, (/attF�GtC <br />Rkk Management Analyst <br />