Loss
“Loss” shall mean Defense Costs and any amount that the Insureds are legally obligated to pay solely as a result of a Claim, including judgments, pre- and post-judgment interest, settlements, back pay, front pay, damages for mental anguish and emotional distress, compensatory damages, statutory attorneys’ fees, and liquidated damages awarded pursuant to the Age Discrimination in Employment Act or the Equal Pay Act and punitive damages to the extent such liquidated or punitive damages are insurable under the law pursuant to which this Policy is construed.

Loss shall not include:

  1. civil or criminal fines, penalties, taxes imposed by law or costs associated with non-monetary relief
  2. severance pay;
  3. damages determined to be owed under an express contract (oral or written), including a contract of employment or an express obligation to make such payments in the event of the termination of an Employee’s employment with the Company;
  4. payments for stock option, stock grant, or stock appreciation rights;
  5. bonus, commission or unpaid wages, including but not limited to earned time-off and overtime;
  6. payments or costs associated with insurance plan benefits, social security, workers’ compensation, retirement or pension benefits;
  7. damages, costs or expenses incurred by an Insured in making physical changes, modifications, alterations or improvements as part of an accommodation of any disabled person pursuant to the Americans with Disabilities Act or any similar federal, state or local law; and
  8. other matters that may be deemed uninsurable pursuant to the law under which this Policy is interpreted.

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