Common use of Governing Law; Arbitration; Consent to Jurisdiction Clause in Contracts

Governing Law; Arbitration; Consent to Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of Switzerland. Except with respect to the enforcement of the Company's injunctive and other equitable remedies pursuant to Section 5.04 hereof, any dispute arising under this Agreement shall be submitted to arbitration, the determination of which shall be final and binding on the parties hereto and which arbitration shall be held in accordance with Article 343, paragraph 1 of the Code and the rules and procedures of the International Chamber of Commerce applicable to commercial transactions and conducted in English. The cost of such arbitration, unless otherwise determined thereby, shall be borne 50% by Executive and 50% by the Company. Executive, to the extent that he may lawfully do so, hereby consents to the jurisdiction of the courts of Switzerland as well as to the jurisdiction of all courts from which an appeal may be taken from such courts, for the purpose of any suit, action or other proceeding arising out of enforcement of any such arbitration award or any of his obligations under Article V hereof, and hereby expressly waives any and all objections which he may have as to venue in any such courts. It is acknowledged and agreed that all of the other agreements referred to herein, including the Option Plan, Option Agreement, Securityholders Agreement and Purchase Agreement are governed by and shall be construed under the laws of Delaware (USA).