(D) Sampo shall at all times indemnify GE (which will control its own defense) and GE’s customers against any actual or threatened liability, claim, cost, or expense (including reasonable attorneys’ fees and other reasonable dispute resolution costs):
(1) Involving death or injury to any person or damage to any property (including economic or financial loss) that actually or allegedly results directly or indirectly from (i) any failure of Products to comply with the description or specifications set forth in a PO; (ii) Sampo’s negligence in designing, manufacturing, or otherwise handling Products; (iii) defects in Products giving rise to claims based on strict or product liability; or (iv) failure of products to perform in accordance with their intended use; or
(2) Directly or indirectly resulting (i) from Sampo’s failure to satisfy its obligations under this Contract, or (ii) because any representation of Sampo in this Contract proves untrue. GE shall, however, pursue any indemnification claims against Sampo, and Sampo and GE shall jointly defend any "Covered Third-Party Claims," in accordance with the joint defense and arbitration provisions attached as Exhibit J.
1. As used in this Exhibit J, a "Covered Third-Party Claim" means any claim by a third party, including a civil action, against Sampo or GE or both, or against their affiliates, divisions, subsidiaries, employees, agents or representatives, for personal injury, property damage, or other loss that is alleged to have been caused, directly or indirectly by Products.
2. As required by paragraph 4(D)(1) of the Contract of which this Exhibit J is a part, Sampo shall indemnify GE (and GE’s distributors, dealers, affiliates, and customers) against any liability, claim, cost, or reasonable expense resulting from any Covered Third-Party Claim.
1. Within thirty (30) days from the date of transmittal of this Final Award to the parties, Sampo Corporation and Sampo Enterprise Co. Ltd. shall, jointly and severally, pay to General Electric Company the sum of $3,051,817.22, consisting of $2,500,000 on General Electric Company’s indemnity liability claim, $171,174.81 on General Electric Company’s claim for attorneys’ fees and costs incurred in connection with defending the Sabreliner case, and $380,642.41 in pre-judgment interest representing 9% (simple, per annum) of the foregoing sums from the date of the demand for arbitration through the date of this award (19 months).
2. The administrative fees and expenses of the International Centre for Dispute Resolution (ICDR), totaling US$11,450.00, and the compensation and expenses of the panel totaling US$70,262.50, shall be borne 50% by General Electric Company and 50% jointly and severally by Sampo Corporation and Sampo Enterprise Co. Ltd. Therefore, Sampo Corporation and Sampo Enterprise Co. Ltd. shall, jointly and severally, pay to General Electric Company the sum of US$17,430.85, representing that portion of said fees and expenses in excess of the apportioned costs previously incurred by General Electric Company.
3. This Final Award is in full settlement of all claims submitted to this arbitration. Any claims not referred to above are denied.
4. This Final Award may be executed in any number of counterparts, each of which shall be deemed an original, and all of which shall constitute together one and the same instrument.
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