Common use of Mandatory and Binding Arbitration Clause in Contracts

Mandatory and Binding Arbitration. Any dispute that in any way relates to this Agreement, including, without limitation, any request for injunctive or declaratory relief sought by any of the parties to this Agreement (whether pursuant to Articles 5 or 6, or otherwise), shall be submitted to mandatory and binding arbitration before the American Arbitration Association (“AAA”), in accordance with the then current Employment Arbitration Rules and Mediation Procedures established by the AAA (or any successor organization), at the AAA’s regional office for the State of Delaware, the state in which the Employer is organized, unless otherwise required by law. The arbitrator shall be selected by permitting the Employer and Employee to strike one name each from a panel of three names obtained from the AAA from its panel of Employment Dispute Arbitrators. The person whose name is remaining shall be the arbitrator. The arbitrator shall determine the extent of discovery, if any, that is needed to resolve the dispute after hearing the positions of each party regarding the need for discovery. The arbitrator shall be bound to apply the laws of the State of Delaware, unless pre-empted by federal law, to resolve any dispute without regard for any conflict of law principles, as Employee acknowledges that the Employer is organized under the laws of the State of Delaware and operates on a national and international scope. The arbitrator shall be required to afford the parties the opportunity to file dispositive motions, including, without limitation, summary judgment motions and consider those motions in accordance with the laws of the State of Delaware (or in accordance with federal law, if Delaware law is pre-empted by federal law). The arbitrator also shall be required to issue a reasoned opinion.