Common use of Arbitration, Remedies Clause in Contracts

Arbitration, Remedies. A. Any dispute or controversy arising between Xx. Xxxxxx and the Company relating to this Agreement or otherwise to Xx. Xxxxxx'x employment by the Company shall be submitted to private, binding arbitration, upon the written request of either Xx. Xxxxxx or the Company, before a panel of three arbitrators, under the administration of and in accordance with the Commercial Arbitration Rules of the American Arbitration Association ("AAA"). In the event of such dispute or controversy, the Company and Xx. Xxxxxx shall independently and simultaneously select and identify one arbitrator each, both of whom must have no past or present familial or business relationships with the parties and must possess expertise in the area of compensation of senior management employees. In the event that a party has not selected its arbitrator within 60 days of initiation of the arbitration, the AAA shall select such arbitrator. These two arbitrators shall jointly agree upon and select a third arbitrator who also possesses such credentials. These three arbitrators shall hear and decide the dispute or controversy by majority vote, and their decision and award shall be final and conclusive upon the parties, and their heirs, administrators, executors, successors, and assigns. The arbitrators shall have no power or authority to add to, subtract from, or otherwise modify the terms of this Agreement. Wherever the Commercial Arbitration Rules of the AAA conflict with the procedures set forth in this Section, the terms of this Section shall govern. Xx. Xxxxxx and the Company agree that the arbitration must be initiated by personally delivering a statement of claim to the AAA and to the party against whom the claim is asserted no later than ninety (90) days after the basis of the claim becomes known, or reasonably should have been known or discovered, by the party asserting the claim. In the event arbitration is not initiated within such ninety (90) day period, such claim, dispute, or controversy shall be irrevocably time-barred. A judgement based upon such arbitration award may be entered in any court having jurisdiction thereof. B. Notwithstanding the foregoing, any action brought by the Company seeking a temporary restraining order, temporary and/or permanent injunction, and/or a decree of specific performance of the terms of this Agreement may be brought in a court of competent jurisdiction without the obligation to proceed first to arbitration.

Arbitration, Remedies. A. Any dispute or controversy arising between Xx. Xxxxxx Xxxxxxxx and the Company Companies relating to this Agreement or otherwise to Xx. Xxxxxx'x Xxxxxxxx'x employment by the Company Companies shall be submitted to private, binding arbitration, upon the written request of either Xx. Xxxxxx Xxxxxxxx or the CompanyCompanies, before a panel of three arbitrators, under the administration of and in accordance with the Commercial Arbitration Rules of the American Arbitration Association ("AAA"). In the event of such dispute or controversy, the Company Companies and Xx. Xxxxxx Xxxxxxxx shall independently and simultaneously select and identify one arbitrator each, both of whom must have no past or present familial or business relationships with the parties and must possess expertise in the area of compensation of senior management employees. In the event that a party has not selected its arbitrator within 60 days of initiation of the arbitration, the AAA shall select such arbitrator. These two arbitrators shall jointly agree upon and select a third arbitrator who also possesses such credentials. These three arbitrators shall hear and decide the dispute or controversy by majority vote, and their decision and award shall be final and conclusive upon the parties, and their heirs, administrators, executors, successors, and assigns. The arbitrators shall have no power or authority to add to, subtract from, or otherwise modify the terms of this Agreement. Wherever the Commercial Arbitration Rules of the AAA conflict with the procedures set forth in this Sectionsection, the terms of this Section section shall govern. Xx. Xxxxxx Xxxxxxxx and the Company Companies agree that the arbitration must be initiated by personally delivering a statement of claim to the AAA and to the party against whom the claim is asserted no later than ninety (90) days after the basis of the claim becomes known, or reasonably should have been known or discovered, by the party asserting the claim. In the event arbitration is not initiated within such ninety (90) day period, such claim, dispute, or controversy shall be irrevocably time-barred. A judgement judgment based upon such arbitration award may be entered in any court having jurisdiction thereof. B. Notwithstanding the foregoing, any action brought by the Company Companies seeking a temporary restraining order, temporary and/or permanent injunction, and/or a decree of specific performance of the terms of this Agreement may be brought in a court of competent jurisdiction without the obligation to proceed first to arbitration. C. In addition to any other remedy available at law or equity, or otherwise hereunder, in the event of any breach by Xx. Xxxxxxxx not cured within 30 days following notice by the Companies of his obligations under any of Sections V.B, V.D, or IX hereof, Xx. Xxxxxxxx shall forfeit any right to Severance Compensation and Project Completion Bonuses hereunder.

Arbitration, Remedies. A. Any dispute or controversy arising between Xx. Xxxxxx and the Company Companies relating to this Agreement or otherwise to Xx. Xxxxxx'x employment by the Company Companies shall be submitted to private, binding arbitration, upon the written request of either Xx. Xxxxxx or the CompanyCompanies, before a panel of three arbitrators, under the administration of and in accordance with the Commercial Arbitration Rules of the American Arbitration Association ("AAA"). In the event of such dispute or controversy, the Company Companies and Xx. Xxxxxx shall independently and simultaneously select and identify one arbitrator each, both of whom must have no past or present familial or business relationships with the parties and must possess expertise in the area of compensation of senior management employees. In the event that a party has not selected its arbitrator within 60 days of initiation of the arbitration, the AAA shall select such arbitrator. These two arbitrators shall jointly agree upon and select a third arbitrator who also possesses such credentials. These three arbitrators shall hear and decide the dispute or controversy by majority vote, and their decision and award shall be final and conclusive upon the parties, and their heirs, administrators, executors, successors, and assigns. The arbitrators shall have no power or authority to add to, subtract from, or otherwise modify the terms of this Agreement. Wherever the Commercial Arbitration Rules of the AAA conflict with the procedures set forth in this Sectionsection, the terms of this Section section shall govern. Xx. Xxxxxx and the Company Companies agree that the arbitration must be initiated by personally delivering a statement of claim to the AAA and to the party against whom the claim is asserted no later than ninety (90) days after the basis of the claim becomes known, or reasonably should have been known or discovered, by the party asserting the claim. In the event arbitration is not initiated within such ninety (90) day period, such claim, dispute, or controversy shall be irrevocably time-barred. A judgement judgment based upon such arbitration award may be entered in any court having jurisdiction thereof. B. Notwithstanding the foregoing, any action brought by the Company Companies seeking a temporary restraining order, temporary and/or permanent injunction, and/or a decree of specific performance of the terms of this Agreement may be brought in a court of competent jurisdiction without the obligation to proceed first to arbitration. C. In addition to any other remedy available at law or equity, or otherwise hereunder, in the event of any breach by Xx. Xxxxxx not cured within 30 days following notice by the Companies of his obligations under any of Sections V.D, or IX hereof, Xx. Xxxxxx shall forfeit any right to Severance Compensation and Project Completion Bonuses hereunder.

Arbitration, Remedies. A. Any dispute or controversy arising between Xx. Xxxxxx the Employee and the Company relating to this Agreement or otherwise to Xx. Xxxxxx'x the Employee's employment by the Company shall be submitted to private, binding arbitration, upon the written request of either Xx. Xxxxxx the Employee or the Company, before a panel of three arbitrators, under the administration of and in accordance with the Commercial Arbitration Rules of the American Arbitration Association ("AAA"). In the event of such dispute or controversy, the Company and Xx. Xxxxxx the Employee shall independently and simultaneously select and identify one arbitrator each, both of whom must have no past or present familial or business relationships with the parties and must possess expertise in the area of compensation of senior management employees. In the event that a party has not selected its arbitrator within 60 days of initiation of the arbitration, the AAA shall select such arbitrator. These two arbitrators shall jointly agree upon and select a third arbitrator who also possesses such credentials. These three arbitrators shall hear and decide the dispute or controversy by majority vote, and their decision and award shall be final and conclusive upon the parties, and their heirs, administrators, executors, successors, and assigns. The arbitrators shall have no power or authority to add to, subtract from, or otherwise modify the terms of this Agreement. Wherever the Commercial Arbitration Rules of the AAA conflict with the procedures set forth in this Sectionsection, the terms of this Section section shall govern. Xx. Xxxxxx The Employee and the Company agree that the arbitration must be initiated by personally delivering a statement of claim to the AAA and to the party against whom the claim is asserted no later than ninety (90) days after the basis of the claim becomes known, or reasonably should have been known or discovered, by the party asserting the claim. In the event arbitration is not initiated within such ninety (90) day period, such claim, dispute, or controversy shall be irrevocably time-barred. A judgement based upon such arbitration award may be entered in any court having jurisdiction thereof.is B. Notwithstanding the foregoing, any action brought by the Company seeking a temporary restraining order, temporary and/or permanent injunction, and/or a decree of specific performance of the terms of this Agreement may be brought in a court of competent jurisdiction without the obligation to proceed first to arbitration. C. In addition to any other remedy available at law or equity, or otherwise hereunder, in the event of any breach by the Employee not cured within 30 days following notice by the Company of his obligations under any of Sections V.C, V.E, or IX hereof, the Employee shall forfeit any right to Severance Compensation and Project Completion Bonuses hereunder.