Outside Directorship Liability. Coverage shall extend to any D&O Claim with respect to any Outside Directorship.
Outside Directorship Liability. The Insurer shall pay on behalf of the Outside Director any Loss resulting from a Claim first made against such Outside Director during the Policy Period or the Extended Reporting Period, if applicable. Coverage under this extension shall be specifically in excess of any indemnification provided by the Outside Company and any insurance coverage afforded to an Outside Company or its Directors and Officers applicable to such Claim and shall be subject to all rights of recovery available to the Outside Director against any third party to this Policy, including the Outside Company, its Directors or Officers and the respective insurers of any such third party. With respect to any "for-profit" Outside Company, this extension is sub-limited to 50% of the Limit of Liability per Claim and in the aggregate for the Policy Period unless specified otherwise in the Schedule. This sub-limit is part of and not in addition to the overall Limit of Liability under this Policy. If the Insurer or any of its Subsidiary or affiliated companies makes payment under another insurance policy on account of any Claim also covered under this Policy by reason of this extension, the Insurer`s liability under this Policy for such Claim shall reduce by the amount of such payment.
Outside Directorship Liability. This coverage extension applies to any Covered Party who, as an elected or appointed official or as a supervisory or managerial employee of a Covered Entity, serves on the board of any non-profit corporation or association as a requirement for the performance of their official duties. Under this coverage extension, The Trust agrees to defend and pay damages on behalf of those Covered Parties for Claims or Suits, not otherwise excluded, arising from actual or alleged wrongful acts committed by them as members of the board of any such non-profit corporation or association. This coverage extension shall be subject to a $100,000 annual aggregate limit for each Participant and a $2,500 deductible each Claim or Suit. Further, the coverage afforded under this coverage extension shall be specifically excess of any indemnity, coverage or insurance available from or provided by the outside non-profit entity of which the Covered Party is a board member. This Coverage Extension does not apply to:
Outside Directorship Liability. Subject to the terms and conditions of this Policy and Liability Coverage Part, coverage is afforded for Loss resulting from any Insured Person Claim against an Insured Person for a Wrongful Act in an Outside Capacity. Such coverage shall be specifically excess of any indemnity and insurance available from or provided by the Outside Entity. Payment by the Insurer or any Affiliate under any other insurance policy as a result of such Claim shall reduce, by the amount of such payment, the Insurer’s Limit of Liability available under this Policy for such Claim.
Outside Directorship Liability for a Wrongful Act actually or allegedly committed or attempted by any Insured Person in his or her capacity as a director, officer, trustee, manager, member of the board of managers or equivalent executive of a limited liability company or employee of, or independent contractor for or in any other capacity or position with any organization other than an Outside Entity or the Company, even if service in such capacity or position is with the knowledge and consent of, at the direction or request of, or part of the duties regularly assigned to the Insured Person by the Company.
