Common use of Binding Arbitration of All Disputes Clause in Contracts

Binding Arbitration of All Disputes. (a) The parties to this Agreement shall use their good faith efforts to voluntarily resolve between themselves any and all disputes, controversies or claims arising out of or relating to any provisions of this Agreement or any related agreements entered into pursuant hereto regarding an alleged breach of this Agreement, and/or regarding the performance or failure to perform by the parties of the terms of this Agreement or any related agreement. If any dispute cannot be promptly resolved, either party may request in writing to the other party that the matter be mediated by a qualified professional mediator to be mutually agreed upon by the parties. If the parties are unsuccessful in selecting such a mediator within ten (10) days after the request is first made, or if upon selecting a mediator are unable to resolve the matter within twenty (20) days following the selection of the mediator, then the dispute shall be finally settled by binding arbitration administered by the American Arbitration Association ("AAA") pursuant to its National Rules for the Resolution of Employment Disputes in effect on the effective date of this Agreement by a single arbitrator appointed by AAA. (b) This provision applies to any and all disputes arising under this Agreement, including but not limited to any claims of discrimination under State and federal laws, as well as any claims for breach of contract, tort, or other claims, excluding only claims as to which no agreement to arbitrate may be made under New York State law, including claims for unemployment and workers compensation benefits. (c) In the event that this mandatory arbitration provision is invoked by either party to this Agreement, each party shall bear its own costs, expenses and attorneys' fees associated with said arbitration.