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

NOW THEREFORE, intending to be legally bound, and in consideration of themutual promises and other good and valuable consideration as set forth herein, the Partiesagree as follows:1. Purpose and ScopeThe purpose of this Agreement is to resolve as between the City and Travelers allClaims against Travelers arising out of or relating to, and for the City to foreverrelinquish and surrender all rights of coverage available or potentially available to theCity under, the Policies. Pursuant to this Agreement, thePolicies are declared null andvoid, and all obligations under the Policies, including but not limited to any duty todefend or indemnify the City, shall be satisfied, discharged, terminated and released. TheParties agree that this settlement sets forth Travelers' sole and complete obligations to theCity under, and otherwise terminates any insuiing relationship betwe~n Travelers and theCity with respect to any obligations Travelers may have to the City arising from orrelated to, the Policies.2. DefinitionsThe definitions contained herein shall apply only to this Agreement and shall notapply to any other agreement, including, without limitation, any policy of insurance orother settement agreement, nor ,shall they be used as evidence, except with respect to thisAgreement, of the meaning of any terr. Furthermore, each defined term stated in asingular form shall include the plural form, and each defined term stated in a plural formshall include the singular form.2.01 "The City" means the City of Jersey City, a body corporate and politic, onbehalf of itself and each of its departments and non-autonomous agencies, and, in theirPage 2 of20