Resolution of the City of Jersey City, N.J.

esponsibilities and obligations of Travelers alleged to have been created, or that may,becreated, by the Policies are hereby deemed exhausted, extinguished, terminated, canceledand otherwise fully satisfied. The Policies are to be hereafter treated as null and void andneither the City nor any other Person shall have any right hereafter to present or tenderany Claim whatsoever under any of the Policies, regardless of whether the Claim has, been or could have been presented or tendered to Travelers prior to the Effective Date ofthis Agreement and Travelers shall have no duty or obligation to defend, indemnify orotherwise provide coverage, services or benefits of any kind whatsoever to the City or toany other Person which has asserted, is asserting or which may in the future assert aClaim that it is an insured (including, without limitation, those denominated as Insureds,Named Insureds, Additional Insureds, Additional Named Insureds, Persons Insured orAdditional Persons Insured) or otherwise insured or covered under the Policies and anyPerson who has asserted, is asserting or who may in the future assert a Claim of or anyright to, or title, interest or benefit in or under, any of the Policies or to any Personmaking a Claim through or derived from the City or any of the foregoing. This release isintended to operate as if Travelers never issued the Policies.6. Reservation of Rights6.01 Except as expressly provided in this Agreement, neither the existence ofthis Agreement nor any action taken pursuant to its terms shall be construed in any wayto prejudice the interest or rights of the Parties and all of the Claims, rights or benefits ofthe Parties that are not expressly waived or limited by this Agreement are preserved.6.02 This Agreement is not intended to be, and shall not be construed as, anagreement by Travelers Indemnity or Gulf to defend or indemnify the City with regard toPage 9 of20