Step V - Arbitration. If the grievance is not settled to the satisfaction of the Union at Step IV, the Union may request arbitration. Within seven (7) working days after notice requesting arbitration has been served on the Employer, the parties shall request and split the cost of the Federal Mediation Conciliation Service to submit a panel of five (5) arbitrators from which the Employer and the Union shall select an arbitrator by using the alternative strike method of selection. The decision of the arbitrator shall be final and binding on the grievant(s) and both parties. The arbitrator shall not have the power to add to, subtract from, or modify this Agreement. Cost of the arbitration proceeding shall be borne by the losing party.
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Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement