Common use of Chief Executive Officers Clause in Contracts

Chief Executive Officers. If a dispute, controversy or claim between ------------------------ the parties arising out of or relating to the validity, construction, enforceability or performance of this Agreement, including disputes relating to alleged breach or to termination of this Agreement (each, a "Dispute"), either Nipro or TheraSense may, by written notice to the other, have such dispute referred to the General Manager of Nipro, or his designee, and to the Vice President of International Business Development of TheraSense, or his designee for resolution. If, within thirty (30) days of such written notification of a Dispute, no resolution is agreed between the parties, the dispute will be presented to the Chief Executive Officer of Nipro, and the President of TheraSense for resolution. If, within sixty (60) days of written notification of a Dispute, no resolution is agreed, then either party may notify the other party that it invokes resolution of the dispute by binding arbitration in the manner described in Section 13.2 ("ADR").