PYRAMID GROUP INTERNATIONAL, INC. (5)

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Contractors Pollution Liability Policy damages emanating from a pollution condition caused directly or indirectly by any insured. b. The only costs that will be reimbursed by the Company are those costs that are expended by the named insured on or after the date that the named insured first becomes aware of the pollution condition until that date that the named insured first has a reasonable opportunity to report the incident, circumstances, or claim to the Company. c. Nothing in this provision shall in anyway alter, modify, or change the duty of the named insured to give notice of claims to the Company pursuant to Section VI., Conditions, Paragraph A., Notice of Claim." It. DEFINITIONS Words and phrases in italics in this Policy have the following special meaning. Bodily Injury The term Bodily injury means, sickness, disease, mental anguish or shock sustained by any person, including death resulting therefrom caused by a pollution condition arising out of the performance by any insured of operations covered by this policy. Claim The term claim means an oral or written notice to the named insured from any party intending to hold any insured responsible for damages arising out of a pollution condition. Claim Expenses The term claim expenses shall mean all costs, charges and expenses resulting from the adjustment, appraisal, investigation, defence, settlement, arbitration or appeal of any claim covered by the terms and conditions of this Policy if such costs, charges and expenses are incurred by the Company, an attorney designated by the Company, or by any insuredwith the written consent of the Company; except that it shall not include the costs of investigating or administering any claim by employees of the Company or loss of earnings incurred by any insured in investigating, defending, settling, arbitrating or appealing any claim at the Company's direction, except as provided in Section I.B., Supplementary Coverages and Payments, Paragraph 5., Defendant's Reimbursement. Damages The term damages shall mean a judgment, award or settlement monetarily compensating a claimant for a claim covered by the terms and conditions of this policy, and shall include damages based upon emotional distress. Damages also includes any loss due to diminution in value or loss of use of land, property, or buildings. Damages does not include any of the following: 1. Any administrative, civil or criminal fines, sanctions, taxes, or penalties, whether pursuant to law or statute, except to the extent coverage for reimbursement for fines or penalties is provided under Sertinn I.B.. Supplementary Coverages and Payments, Paragrapt fines or penalties; ,,. ." `°� f; 14�qwp xrrdat+n,.�,trnn;a�t r&V1EWm& APPRaM® av: A-, :, A —a- Risk Management Speoalist © Freberg Environmental Inc, 2000 All rights reserved. tl.F3"1 "1-U I I z