Common use of Arbitration; Jurisdiction Clause in Contracts

Arbitration; Jurisdiction. 1Any dispute, controversy or claim arising out of or in relation to this Employment Agreement, including the validity, invalidity, breach or termination thereof, shall be resolved by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Xxxxxxxx of Commerce in force on the date when the Notice of Arbitration is submitted in accordance with these Rules. 2The number of arbitrators shall be one; the seat of the arbitration shall be Zurich, Switzerland; the arbitral proceedings shall be conducted in English. 3Notwithstanding the two preceding paragraphs, the Company is entitled to initiate proceedings against the Employee in a competent state court at his/her place of residence, and the Employee is entitled to initiate proceedings against the Company in a competent state court at the Company’s headquarters at the address first above written.