SOUTHERN PACIFIC - FT 079229 - Laserfiche WebLink

II. Definitions (a) Insured - The unqualified word "insured" includes the named insured and also includes any executive officer, director or stockholder thereof while acting within the scope of his duties as such. (b) Contractor. - The word "contractor" means the contrac- tor designated in Item 4 of the declarations and in- cludes all subcontractors of said contractor but shall not include the named insured. (c) Designated employee of the insured - The words "desig nated employee of the insured means (1) any supervisory employee of the insured at the job site, (2) any employee of the insured while operating, at- tached to or engaged on work trains or other railroad equipment at the job site which are assigned exclusively to the contractor, or (3) an employee of the insured not within (1) or (2T who is specifically loaned or assigned to the work of the contractor for prevention of accidents or protection of property, the cost of whose services is borne specifically by the contractor or by governmental authority. (d) Contract - The word "contract" means any contract or agreement to carry a person or property for a consid- eration or any lease, trust or interchange contract or agreement respecting motive power,'rolling stock or mechanical construction equipment. III. Defense, Settlement, Supplementary Payments With respect to such insurance as is afforded by this policy under coverages A and B, the company shall: (a) defend any suit against the insured alleging such bodily injury or property damage and seeking damages which are payable under the terms of this policy, even if any of the allegations of the suit are groundless, false or fraudulent, but the company may make such in- vestigation and settlement of any claim or suit as it deems expedient; (b) pay, in addition to the applicable limits of liability: (1) all expenses incurred by the company, all costs taxed against the insured in any such suit and