This exclusion applies whether the Insured may be held liable as an employer or in any other capacity, and to any obligation to share damages with or to repay someone else who must pay damages because of injury or damage arising out of the employment-related practices, policies, acts or omissions described in the paragraph above.

C. RADIOACTIVE MATTER

Any liability arising out of any radioactive matter, whether or not naturally occurring.

D. KNOWN LOSS

Any liability arising out of any claim or occurrence likely to give rise to a claim, of which a Responsible Insured was aware prior to the Inception Date in Item 2 of the Declarations of this Policy, regardless of whether such Responsible Insured believed such claim or occurrence would involve this Policy.

For the purposes of this Exclusion, the following definitions apply:

* **Responsible Insured** means an Executive Officer of the Insured, or any manager or equivalent level employee in the Insured's Risk Management, Insurance or Law Department.
* **Executive Officer** means the Chairman of the Board, President, Chief Executive, Operating, Financial and Administrative Officers, Managing Directors, or any Executive or Senior Vice President of the Insured. Where such title is inapplicable, the equivalent level of personnel shall be substituted.

V. DEFINITIONS

The following Definitions apply to this Policy:

A. Followed Policy means the policy described in Item 7 of the Declarations of this Policy.

B. Underlying Policies means those policies that are scheduled in the Schedule of Underlying Excess Policies in Item 6 of the Declarations of this Policy and any other applicable underlying insurance, including any self-insured retentions.

VI. CONDITIONS

A. ARBITRATION

1. Any and all disputes arising under or relating to this Policy, including its formation and validity, and whether between the Insurer and the Insured or any person or entity deriving rights through or asserting rights on behalf of the Insured, shall be finally and fully determined in London, England under the provisions of the Arbitration Act 1996 and/or any statutory modifications or amendments thereto, by a Board composed of three arbitrators to be selected for each controversy as follows:

a. Any party to the dispute may, once a claim or demand on its part has been denied or remains unsatisfied for a period of twenty (20) calendar days by any other party or parties,