MATTER OF TRAVELERS INC

There is no arbitration clause in the Stock Purchase Agreement under which arbitration is sought. The mere reference to a separate indemnity agreement, executed by petitioners only, may not be relied upon by respondents to compel arbitration under the Stock Purchase Agreement. Arbitration will only be compelled where the parties have expressly agreed to arbitrate in clear and unequivocal language and will not be directed where arbitration is sought by implication (Matter of Waldron [Goddess], 61 N.Y.2d 181, 183-184).

Concur — Ellerin, J.P., Ross, Williams and Tom, JJ.