Common use of Arbitration of Certain Disputes Clause in Contracts

Arbitration of Certain Disputes. Any dispute between the Parties arising out of this Agreement, including but not limited to any dispute regarding any aspect of this Agreement, its formation, validity, interpretation, effect, performance or breach, or the Executive’s employment (“Arbitrable Dispute”) shall be submitted to arbitration in Cincinnati, Ohio, before an experienced employment arbitrator who is either licensed to practice law in Ohio, or is a retired judge. The Parties agree to make a good faith effort to select a mutually agreeable arbitrator. However, if the Parties are unable to reach agreement on an arbitrator, one will be selected pursuant to the Employment Dispute Resolution Rules of the American Arbitration Association or any successor rules thereto. The arbitration shall be conducted in accordance with the Employment Dispute Resolution Rules or any successor rules. The arbitrator in an Arbitrable Dispute shall not have authority to modify or change this Agreement in any respect. The prevailing Party in any such arbitration shall be awarded its costs, expenses, and reasonable attorneys’ fees incurred in connection with the arbitration. The Executive and CBS shall each be responsible for payment of one-half the amount of the arbitrator’s fee(s). The arbitrator’s decision and/or award will be fully enforceable and subject to an entry of judgment by any court of competent jurisdiction.