Common use of Award Limits Clause in Contracts

Award Limits. 1. The Parties may agree prior to the Mediation that a minimum and maximum amount will serve as parameters for the Award (sometimes referred to as a "high/low agreement"), such that the actual amount that must be paid to the plaintiff or claimant shall not exceed a certain amount (the "high" or "maximum award") and shall not be less than a certain amount (the "low" or "minimum award"). a. If liability is disputed and comparative fault or negligence is asserted as an affirmative defense, the Mediator shall make a finding regarding comparative fault or negligence, if any. In the event that there is a finding of comparative fault or negligence of the plaintiff that is greater than 50% (fifty percent), the plaintiff shall receive the negotiated minimum award. In the event that there is a finding of comparative fault or negligence of 50% (fifty percent) or less against the plaintiff, then any damages awarded in favor of the plaintiff shall be reduced by the amount of the plaintiff's comparative fault or negligence, but shall be no less than the minimum parameter or more than the maximum parameter. b. All award minimum and maximum parameters are subject to applicable set-offs if any, as governed by policy provisions if not specified in the Agreement. The Parties agree that for this Mediation the minimum award to xxxxxxxx will be $xxxxxxx. Also, the maximum award to xxxxxxxxx will be $xxxxxxx. These amounts reflect the minimum and maximum amounts of money that xxxxxxxxxxxxxxx shall be liable to pay to xxxxxxx.

Award Limits. 1. The Parties may agree prior to the Mediation that a minimum and maximum amount will serve as parameters for the Award (sometimes referred to as a "high/low agreement"), such that the actual amount that must be paid to the plaintiff or claimant shall not exceed a certain amount (the "high" or "maximum award") and shall not be less than a certain amount (the "low" or "minimum award"). a. If liability is disputed and comparative fault or negligence is asserted as an affirmative defense, the Mediator shall make a finding regarding comparative fault or negligence, if any. In the event that there is a finding of comparative fault or negligence of the plaintiff that is greater than 50% (fifty percent), the plaintiff shall receive the negotiated minimum award. In the event that there is a finding of comparative fault or negligence of 50% (fifty percent) or less against the plaintiff, then any damages awarded in favor of the plaintiff shall be reduced by the amount of the plaintiff's comparative fault or negligence, but shall be no less than the minimum parameter or more than the maximum parameter. b. All award minimum and maximum parameters are subject to applicable set-offs if any, as governed by policy provisions if not specified in the Agreement. The Parties agree that for this Mediation the minimum award to xxxxxxxx Xxxx Xxxxxxx will be $xxxxxxx50,000.00. Also, the maximum award to xxxxxxxxx Xxxx Xxxxxxx will be $xxxxxxx300,000.00. These amounts reflect the minimum and maximum amounts of money that xxxxxxxxxxxxxxx Xxxxx Xxxxxx shall be liable to pay to xxxxxxxXxxx Xxxxxxx.

Award Limits. 1. The Parties may agree prior to the Mediation Arbitration that a minimum and maximum amount will serve as parameters for the Award (sometimes referred to as a "high/low agreement"), such that the actual amount that must be paid to the plaintiff or claimant shall not exceed a certain amount (the "high" or "maximum award") and shall not be less than a certain amount (the "low" or "minimum award"). a. If liability is disputed and comparative fault or negligence is asserted as an affirmative defense, the Mediator Arbitrator shall make a finding regarding comparative fault or negligence, if any. In the event that there is a finding of comparative fault or negligence of the plaintiff that is greater than 50% (fifty percent), the plaintiff shall receive the negotiated minimum award. In the event that there is a finding of comparative fault or negligence of 50% (fifty percent) or less against the plaintiff, then any damages awarded in favor of the plaintiff shall be reduced by the amount of the plaintiff's comparative fault or negligence, but shall be no less than the minimum parameter or more than the maximum parameter. b. All award minimum and maximum parameters are subject to applicable set-offs if any, as governed by policy provisions if not specified in the Agreement. The Parties agree that for this Mediation Arbitration the minimum award to xxxxxxxx xxxxxxxxxxx will be $xxxxxxxxxxxxxxxx. Also, the maximum award to xxxxxxxxx xxxxxxxxxxx will be $xxxxxxxxxxxxxxx. These amounts reflect the minimum and maximum amounts of money that xxxxxxxxxxxxxxx xxxxxxxxxxx shall be liable to pay to xxxxxxxxxxxxxxxxxx.