Common use of S. or A Clause in Contracts

S. or A. A.A., as the case may be, shall furnish an additional list or lists until an Arbitrator is selected. The Arbitrator shall apply the substantive law (and the law of remedies, if applicable) of the state in which the claim arose, or federal law, or both, as applicable to the claim(s) asserted. The State of California Code of Evidence shall apply. Damages recoverable for claims brought under this agreement include those damages and/or remedies provided by the applicable statutes, which may include punitive damages, back wages, reinstatement and other monetary or equitable damages. The Arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute relating to the interpretation, applicability, enforceability or formation of this Agreement, including but not limited to any claim that all or any part of this Agreement [LOGO OF COAST FEDERAL BANK] is void or voidable. The arbitration shall be final and binding upon the parties, except as provided in this Agreement. The Arbitrator shall have jurisdiction to hear and rule on pre-hearing disputes and is authorized to hold pre-hearing conferences by telephone or in person as the Arbitrator deems necessary. The Arbitrator shall have the authority to entertain a motion to dismiss and/or a motion for summary judgment by any party and shall apply the standards governing such motions under the State of California Code of Civil Procedure. Either party, at its expense, may arrange for and pay the cost of a court reporter to provide a stenographic record of proceedings. Either party, upon request at the close of hearing, shall be given leave to file a post-hearing brief. The time for filing such a brief shall be set by the Arbitrator. Either party may bring an action in any court of competent jurisdiction to compel arbitration under this Agreement and to enforce an arbitration award. Except as otherwise provided in this Agreement, both the Company and I agree that neither of us shall initiate or prosecute any lawsuit or administrative action (other than an administrative charge of discrimination) in any way related to any claim covered by this Agreement. The Arbitrator shall render an award and opinion in the form typically tendered in labor arbitrations. ARBITRATION FEES AND COSTS -------------------------- The Company and I shall equally share the fees and costs of the Arbitrator except, however, if the claim relates to a monetary amount where an amount is less than fifty thousand dollars ($50,000) then the share of the fees and costs of the Arbitrator of the Company and Employee shall be as follows: If the amount of the claim is less than fifty thousands dollars ($50,000) but more than twenty-five thousand dollars ($25,000), the fees and costs of the Arbitrator shall be allocated 66 2/3 for the Company and 33 1/3 for Employee; and if the amount of the claim is less than twenty-five thousand dollars ($25,000) the fees and costs of the Arbitrator shall be allocated 90% for the Company and 10% for the Employee. Each party will deposit funds or post other appropriate security for its share of the Arbitrator's fee, in an amount and manner determined by the Arbitrator, 10 days before the first day of hearing. Each party shall pay for its own costs and attorneys' fees, if any. However, if any party prevails on a statutory claim which affords the prevailing party attorneys' fees, or if there is a written agreement providing for fees, the Arbitrator may award reasonable fees to the prevailing party. [LOGO OF COAST FEDERAL BANK] JUDICIAL REVIEW --------------- Either party may bring an action in any court of competent jurisdiction to compel arbitration under this Agreement and to enforce an arbitration award. A party opposing enforcement of an award may not do so in an enforcement proceeding, but must bring a separate action in any court of competent jurisdiction to set aside the award, where the standard of review will be the same as that applied by an appellate court reviewing a decision of a trial court sitting without a jury.