Common use of Arbitration; Jurisdiction Clause in Contracts

Arbitration; Jurisdiction. At the option of Company, any dispute arising out of this Agreement shall (I) be settled by binding arbitration by one Arbitrator brought before the American Arbitration Association (“AAA”), pursuant to the AAA rules for commercial disputes, in the State of Nevada, County of Xxxxx, or the closest AAA office; or (ii) shall be brought by commencement of an action in a court of competent jurisdiction in Xxxxx County, Nevada, and such forum shall be the exclusive forum for remedies of any such disputes. Both parties consent to personal jurisdiction in the courts located in Xxxxx County, Nevada. If arbitration is selected, the arbitration shall be in accordance with the then-current Employment Dispute Resolution Rules of the American Arbitration Association, before an arbitrator licensed to practice law in Nevada. Either the Arbitrator or the court, as the case may be, shall be granted all powers and shall have the authority to grant injunctive relief or specific performance to the fullest extent necessary to enforce the terms of this Agreement, without the necessity of posting bond. As part of any award, the prevailing party shall be entitled to costs and an award of reasonable attorneys fees only as expressly provided in this Agreement. The award of any arbitration shall be final and binding upon the parties and judgment may be entered in any court necessary or appropriate for enforcement thereof. The terms of this paragraph shall apply to dispute arising hereunder notwithstanding anything to the contrary set forth herein, and shall survive the termination of Executive’s employment hereunder.