Common use of Arbitration and Mediation Clause in Contracts

Arbitration and Mediation. In case of a disagreement between the Parties to this Agreement as to any right, obligation, term or provision hereof or involving a total disputed amount or claim(s) equal to or greater than $25,000.00, the Parties shall make an xxxxxxx effort to settle such disagreement to their mutual satisfaction. If any such dispute regarding this Agreement cannot be reconciled by the Parties to this Agreement, then any Party may provide notice to the other specifying with particularity the items of disagreement and a request that the matter be resolved by mediation. Such notice shall include the name of a mediator acceptable to the Party requesting mediation. If the dispute is not resolved by mediation to the satisfaction of the Parties, or if the Parties are unable to agree upon a mediator, within thirty (30) days after receipt of such written notice, then any such dispute shall be settled by arbitration and the results of such arbitration shall be binding upon all Parties to this Agreement in all respects as set forth below. Arbitration may be initiated by written notice from any Party to this Agreement to the other that the previously noticed dispute has not been resolved by mediation and is being submitted to arbitration under the terms of this Agreement. A single arbitrator shall be chosen by the Parties to the dispute by submitting names of eleven (11) arbitrators experienced in the area of the dispute from a listing of twenty (20) arbitrators supplied by the American Arbitration Association. Said selection by both Parties shall take place within ten (10) days after the Parties have received the listing from the American Arbitration Association. The lists of the Parties shall be compared and the first name to appear on both lists shall be the arbitrator of the dispute. Should either Party fail or refuse to submit a list of eleven arbitrators then the other Party shall select an arbitrator who shall be the sole arbitrator and shall resolve the dispute as set out herein. All arbitrators shall be individuals who have had prior experience in oil and gas exploration and production and shall function as independent and neutral arbitrators. In the selection of arbitrators, the Parties shall take into consideration the nature of the matter submitted for arbitration. (Thus, for example, professional engineers should be selected to arbitrate issues which are primarily engineering in nature and accountants who are members of the Council of Petroleum Accountants Societies should be selected to arbitrate matters which are primarily accounting in nature.) Arbitrations under this paragraph shall be conducted under the Texas Arbitration Statute (Xxxxxx’x Xxx. Tex. Civ. St. Arts. 224 to 238-6) and shall apply Texas law. All matters concerning the conduct of the arbitrators shall be governed by the provisions of the American Arbitration Association. No dispute related to this Agreement shall be brought before any court of law or equity; however, judgment upon the award or decision rendered by the arbitrators may be entered in any court having jurisdiction.

Arbitration and Mediation. In case of If a disagreement between the Parties dispute arises from or relates to this Agreement as to any rightcontract or the breach thereof, obligation, term or provision hereof or involving a total disputed amount or claim(s) equal to or greater than $25,000.00, and if the Parties shall make an xxxxxxx effort to settle such disagreement to their mutual satisfaction. If any such dispute regarding this Agreement cannot be reconciled settled through direct discussions, the parties agree to endeavor first to settle the dispute by mediation administered by the Parties American Arbitration Association under its Commercial Mediation Procedures before resorting to this Agreement, then any Party may provide notice to the other specifying with particularity the items of disagreement and a request arbitration. The parties further agree that the matter be resolved by mediation. Such notice shall include the name of a mediator acceptable to the Party requesting mediation. If if the dispute is not resolved by mediation to the satisfaction of the Partiesparties, or if the Parties parties are unable to agree upon a mediator, in either case within thirty (30) 30 days after receipt of such written noticea demand for mediation, then any such dispute unresolved controversy or claim arising out of or relating to this contract, or breach thereof, shall be settled by arbitration and the results of such arbitration shall be binding upon all Parties to this Agreement in all respects as set forth below. Arbitration may be initiated by written notice from any Party to this Agreement to the other that the previously noticed dispute has not been resolved by mediation and is being submitted to arbitration under the terms of this Agreement. A single arbitrator shall be chosen by the Parties to the dispute by submitting names of eleven (11) arbitrators experienced in the area of the dispute from a listing of twenty (20) arbitrators supplied administered by the American Arbitration AssociationAssociation in accordance with its Commercial Arbitration Rules and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Said selection Claims shall be heard by both a single arbitrator, unless the claim amount exceeds $1,000,000, in which case the dispute shall be heard by a panel of three arbitrators. The Parties shall take place within ten (10) days after the Parties have received the listing from request that the American Arbitration Association. The lists of the Parties shall be compared and the first name to appear on both lists shall be the arbitrator of the dispute. Should either Party fail or refuse to submit Association provide a list of eleven arbitrators then the other Party shall select an arbitrator who shall be the sole arbitrator and shall resolve the dispute as set out herein. All arbitrators shall be individuals who have had prior experience in oil and gas exploration and production and who shall function as independent and neutral arbitratorsarbitrator(s). In Further, in selecting the selection arbitrator(s) from the list of arbitrators, the Parties shall agree to take into consideration the nature of the matter submitted for arbitration. (Thus, for example, a professional engineers engineer should be selected to arbitrate issues which are primarily engineering in nature and accountants an accountant who are members is a member of the Council of Petroleum Accountants Societies should be selected to arbitrate matters which are primarily accounting in nature.) Arbitrations under this paragraph The place of arbitration shall be conducted under the Texas Arbitration Statute (Xxxxxx’x XxxDallas County, Texas. Tex. Civ. St. Arts. 224 to 238-6) and shall apply Texas law. All matters concerning the conduct of the arbitrators The arbitration shall be governed by the provisions Texas Arbitration Act and the laws of the American Arbitration AssociationState of Texas. No dispute related to this Agreement The award shall be brought made within 12 months of the filing of the notice of intention to arbitrate, and the arbitrator(s) shall agree to comply with this schedule before any court of law or equity; howeveraccepting appointment. However, judgment upon the award or decision rendered this time limit may be extended by the arbitrators may arbitrator(s) for good cause shown, or by mutual agreement of the parties. The arbitrator(s) shall award to the prevailing party, if any, as determined by the arbitrator(s), all of their costs and fees. “Costs and fees” mean all reasonable pre-award expenses of the arbitration, including the arbitrator’s fees, administrative fees, travel expenses, out-of-pocket expenses such as copying and telephone, court costs, witness fees, and attorneys’ fees. The award of the arbitrator(s) shall be entered accompanied by a reasoned opinion. During the pendency of any arbitration, this contract is to remain in effect. Further, notwithstanding this arbitration provision, the Parties consent to the exclusive jurisdiction and venue of the state courts located in Midland County, Texas for the resolution of any court having jurisdictionclaims for specific performance or interim injunctive relief as provided for in Section 12.15.

Arbitration and Mediation. In case of If a disagreement between the Parties dispute arises from or relates to this Agreement as to any rightcontract or the breach thereof, obligation, term or provision hereof or involving a total disputed amount or claim(s) equal to or greater than $25,000.00, and if the Parties shall make an xxxxxxx effort to settle such disagreement to their mutual satisfaction. If any such dispute regarding this Agreement cannot be reconciled settled through direct discussions, the parties agree to endeavor first to settle the dispute by mediation administered by the Parties American Arbitration Association under its Commercial Mediation Procedures before resorting to this Agreement, then any Party may provide notice to the other specifying with particularity the items of disagreement and a request arbitration. The parties further agree that the matter be resolved by mediation. Such notice shall include the name of a mediator acceptable to the Party requesting mediation. If if the dispute is not resolved by mediation to the satisfaction of the Partiesparties, or if the Parties parties are unable to agree upon a mediator, in either case within thirty (30) 30 days after receipt of such written noticea demand for mediation, then any such dispute unresolved controversy or claim arising out of or relating to this contract, or breach thereof, shall be settled by arbitration and the results of such arbitration shall be binding upon all Parties to this Agreement in all respects as set forth below. Arbitration may be initiated by written notice from any Party to this Agreement to the other that the previously noticed dispute has not been resolved by mediation and is being submitted to arbitration under the terms of this Agreement. A single arbitrator shall be chosen by the Parties to the dispute by submitting names of eleven (11) arbitrators experienced in the area of the dispute from a listing of twenty (20) arbitrators supplied administered by the American Arbitration AssociationAssociation in accordance with its Commercial Arbitration Rules and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Said selection Claims shall be heard by both a single arbitrator, unless the claim amount exceeds $1,000,000, in which case the dispute shall be heard by a panel of three arbitrators. The Parties shall take place within ten (10) days after the Parties have received the listing from request that the American Arbitration Association. The lists of the Parties shall be compared and the first name to appear on both lists shall be the arbitrator of the dispute. Should either Party fail or refuse to submit Association provide a list of eleven arbitrators then the other Party shall select an arbitrator who shall be the sole arbitrator and shall resolve the dispute as set out herein. All arbitrators shall be individuals who have had prior experience in oil and gas exploration and production and who shall function as independent and neutral arbitratorsarbitrator(s). In Further, in selecting the selection arbitrator(s) from the list of arbitrators, the Parties shall agree to take into consideration the nature of the matter submitted for arbitration. (Thus, for example, a professional engineers engineer should be selected to arbitrate issues which are primarily engineering in nature and accountants an accountant who are members is a member of the Council of Petroleum Accountants Societies should be selected to arbitrate matters which are primarily accounting in nature.) Arbitrations under this paragraph The place of arbitration shall be conducted under the Texas Arbitration Statute (Xxxxxx’x XxxDallas County, Texas. Tex. Civ. St. Arts. 224 to 238-6) and shall apply Texas law. All matters concerning the conduct of the arbitrators The arbitration shall be governed by the provisions Texas Arbitration Act and the laws of the American Arbitration AssociationState of Texas. No dispute related to this Agreement The award shall be brought made within 12 months of the filing of the notice of intention to arbitrate, and the arbitrator(s) shall agree to comply with this schedule before any court of law or equity; howeveraccepting appointment. However, judgment upon the award or decision rendered this time limit may be extended by the arbitrators may arbitrator(s) for good cause shown, or by mutual agreement of the parties. The arbitrator(s) shall award to the prevailing party, if any, as determined by the arbitrator(s), all of their costs and fees. “Costs and fees” mean all reasonable pre-award expenses of the arbitration, including the arbitrator’s fees, administrative fees, travel expenses, out-of-pocket expenses such as copying and telephone, court costs, witness fees, and attorneys’ fees. The award of the arbitrator(s) shall be entered accompanied by a reasoned opinion. During the pendency of any arbitration, this contract is to remain in effect. Further, notwithstanding this arbitration provision, the Parties consent to the exclusive jurisdiction and venue of the state courts located in Midland County, Texas for the resolution of any court having jurisdiction.claims for specific performance or interim injunctive relief as provided for in Section 12.15. Purchase and Sale Agreement #2

Arbitration and Mediation. In case the event of a disagreement dispute, controversy, or claim (the "Dispute") arising between the Parties to Companies in connection with this Agreement as to any rightLetter, obligation, term or provision hereof or involving a total disputed amount or claim(s) equal to or greater than $25,000.00, the Parties shall make an xxxxxxx effort to settle such disagreement to their mutual satisfaction. If any such dispute regarding this Agreement cannot Dispute shall be reconciled submitted to and settled by arbitration in the Parties to this AgreementCity of San Antonio, then any Party may provide notice Texas, pursuant to the other specifying with particularity the items of disagreement and a request that the matter be resolved by mediation. Such notice shall include the name of a mediator American Arbitration Association rules then in effect, unless prior to arbitration another location or mediation is mutually acceptable to the Party requesting mediationCompanies. If Any award rendered under arbitration shall be final and conclusive upon the dispute is not resolved parties, and the judgment thereon may be entered in the highest court of the forum (state or federal) having jurisdiction over the issues addressed in the arbitration. The expense of the arbitration shall be borne equally by mediation the parties to the satisfaction arbitration, provided that each party shall pay for and bear the cost of its own experts, evidence, and attorneys fees, except that, in the discretion of the Partiesarbitrator, or any award may include the cost of a party's counsel and/or its share of the expenses of arbitration, if the Parties are unable arbitrator expressly determines that an award of such costs is appropriate to agree upon a mediatorparty whose position prevails in such arbitration. To submit a matter to arbitration or mediation, the party seeking redress ("Plaintiff") shall provide Notice in writing to the party against whom such redress is sought ("Defendant"). The Notice shall describe the nature of such claim, the provision of this Letter allegedly violated by the Defendant, and the material facts surrounding such claim. Unless expressly prohibited by the American Arbitration Association rules, the Plaintiff shall appoint one arbitrator and the Defendant shall appoint one arbitrator. The Companies shall appoint such arbitrators within thirty (30) days after receipt of the date of the foregoing described Notice. Within thirty (30) days of appointment, such written noticearbitrators shall appoint a third arbitrator. Within thirty (30) days of the appointment of the foregoing described arbitrators, then any the Companies shall hold an arbitration hearing before such dispute shall be settled by arbitration and the results of such arbitration shall be binding upon all Parties to this Agreement in all respects as set forth belowarbitrators. Arbitration may be initiated by written notice from any Party to this Agreement to the other that the previously noticed dispute has not been resolved by mediation and is being submitted to arbitration under the terms of this Agreement. A single arbitrator shall be chosen Unless expressly prohibited by the Parties to the dispute by submitting names of eleven (11) arbitrators experienced in the area of the dispute from a listing of twenty (20) arbitrators supplied by rules for the American Arbitration Association, at such arbitration hearing the Texas Rules of Evidence shall control the admissibility of evidence. Said selection by both Parties shall take place within Within ten (10) days after of the Parties have received conclusion of such arbitration hearing, the listing from the American Arbitration Associationarbitrators shall render a written decision. The lists of the Parties shall be compared and the first name to appear on both lists shall be the arbitrator of the dispute. Should either Party fail or refuse to submit a list of eleven arbitrators then the other Party shall select an arbitrator who shall be the sole arbitrator and shall resolve the dispute as set out herein. All arbitrators shall be individuals who have had prior experience in oil and gas exploration and production and shall function as independent and neutral arbitrators. In the selection of arbitrators, the Parties shall take into consideration the nature of the matter submitted for arbitration. (Thus, for example, professional engineers should be selected to arbitrate issues which are primarily engineering in nature and accountants who are members of the Council of Petroleum Accountants Societies should be selected to arbitrate matters which are primarily accounting in nature.) Arbitrations under this paragraph shall be conducted under the Texas Arbitration Statute (Xxxxxx’x Xxx. Tex. Civ. St. Arts. 224 to 238-6) and shall apply Texas law. All matters concerning the conduct decision of the arbitrators shall be governed by binding upon the provisions Plaintiff and Defendant and after the completion of such arbitration, the Plaintiff or Defendant may institute litigation for the sole purpose of enforcing the determination of the American Arbitration Associationarbitration hearing. No dispute related The above notwithstanding, any party seeking redress for a Dispute shall always have the right to this Agreement shall be brought before any court of law or equity; howeverobtain temporary injunctive relief, judgment upon if necessary, without first submitting the award or decision rendered by the arbitrators may be entered in any court having jurisdictionDispute to arbitration hereunder.

Arbitration and Mediation. In case of a disagreement between the Parties to this Agreement as to any right, obligation, term or provision hereof or involving a total disputed amount or claim(s) equal to or greater than $25,000.00, the Parties shall make an xxxxxxx effort to settle such disagreement to their mutual satisfaction. If any such dispute regarding this Agreement cannot be reconciled by the Parties to this Agreement, then any Party may provide notice to the other specifying with particularity the items of disagreement and a request that the matter be resolved by mediation. Such notice shall include the name of a mediator acceptable to the Party requesting mediation. If the dispute is not resolved by mediation to the satisfaction of the Parties, or if the Parties are unable to agree upon a mediator, within thirty (30) days after receipt of such written notice, then any such dispute shall be settled by arbitration and the results of such arbitration shall be binding upon all Parties to this Agreement in all respects as set forth below. Arbitration may be initiated by written notice from any Party to this Agreement to the other that the previously noticed dispute has not been resolved by mediation and is being submitted to arbitration under the terms of this Agreement. A single arbitrator shall be chosen by the Parties to the dispute by submitting names of eleven (11) arbitrators experienced in the area of the dispute from a listing of twenty (20) arbitrators supplied by the American Arbitration Association. Said selection by both Parties shall take place within ten (10) days after the Parties have received the listing from the American Arbitration Association. The lists of the Parties shall be compared and the first name to appear on both lists shall be the arbitrator of the dispute. Should either Party fail or refuse to submit a list of eleven arbitrators then the other Party shall select an arbitrator who shall be the sole arbitrator and shall resolve the dispute as set out herein. All arbitrators shall be individuals who have had prior experience in oil and gas exploration and production and shall function as independent and neutral arbitrators. In the selection of arbitrators, the Parties shall take into consideration the nature of the matter submitted for arbitration. (Thus, for example, professional engineers should be selected to arbitrate issues which are primarily engineering in nature and accountants who are members of the Council of Petroleum Accountants Societies should be selected to arbitrate matters which are primarily accounting in nature.) Arbitrations under this paragraph shall be conducted under the Texas Arbitration Statute (Xxxxxx’x Xxxxxx'x Xxx. Tex. Civ. St. Arts. 224 to 238-6) and shall apply Texas law. All matters concerning the conduct of the arbitrators shall be governed by the provisions of the American Arbitration Association. No dispute related to this Agreement shall be brought before any court of law or equity; however, judgment upon the award or decision rendered by the arbitrators may be entered in any court having jurisdiction.. EXECUTED this 13 day of June, 2006. SELLER: XXXXX HOLDING XX XXXXX & XXXXXXX INVESTMENT LLC, GENERAL PARTNER By: /s/ Xxxxxx X. Xxxxxxx --------------------------------------- Name: Xxxxxx X. Xxxxxxx --------------------------------------- Title: President --------------------------------------- BUYER: LEGACY RESERVES OPERATING LP LEGACY RESERVES OPERATING GP LLC, GENERAL PARTNER By: /s/ Xxxxxx X. Xxxxxx --------------------------------------- Name: Xxxxxx X. Xxxxxx --------------------------------------- Title: President --------------------------------------- STATE OF TEXAS COUNTY OF MIDLAND The foregoing instrument was acknowledged before me this 14th day of June, 2006, by Xxxxxx X. Xxxxxxx, President of Xxxxx & Xxxxxxx Investment LLC, General Partner of Xxxxx Holding LP a Texas Limited Partnership, on behalf of said limited partnership. My Commission Expires: