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are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.", "For the purposes of this Agreement, &quot;Extra-Contractual Obligations&quot; shall mean any <strong>Punitive Damages</strong>, Compensatory Damages, or Statutory Penalties, as defined below, paid or payable by the Ceding Company as a result of an action arising under, relating to, or in connection with a Contest: &quot;<strong>Punitive Damages</strong>&quot; are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.", "In no event whatsoever, shall the term Statutory Penalties include any <strong>Punitive Damages</strong> awards.", "<strong>Punitive Damages</strong> - A term that, when used in reinsurance agreements, refers to damages awarded by a court against an insured or against an insurer in addition to compensatory damages.", "In no event shall the Reinsurer participate in <strong>Punitive Damages</strong>, Compensatory Damages, or Bad Faith Damages that are awarded against the Company as a result of an act, omission or course or conduct committed solely by the Company in connection with the Covered Policies.", "<strong>Punitive Damages</strong> Shall mean the damages awarded as a penalty, the amount of which is not governed, nor fixed by statute.", "For purposes of this Article, the following definitions shall apply: &quot;<strong>Punitive Damages</strong>&quot; 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