Arbitration from Joint Venture Agreement
THIS JOINT VENTURE AGREEMENT (together with the Schedules hereto, the JV Agreement), dated as of February 20, 2007, between Owens Corning Composite Cooperatief U.A. (OC Topco), a company organized under the Laws of The Netherlands, Owens Corning, a company organized under the Laws of Delaware (OC Parent), Ondatra S.A.S., a company organized under the Laws of France (SG Topco and, together with OC Topco, the Parties), and Societe de Participations Financieres et Industrielles S.A.S., a company organized under the Laws of France (SG Parent).
Arbitration. The parties irrevocably agree that any Disputes (other than as provided in Section 3.5(b)) that are not resolved in accordance with Section 8.1 within the two thirty (30) day periods mentioned therein shall be finally settled by arbitration in Brussels, by three arbitrators appointed and proceeding in accordance with the Rules of Arbitration (the ICC Rules) of the International Chamber of Commerce (the ICC) as the exclusive means of resolving such Disputes. For purposes of appointing such arbitrators, SG Parent and its Affiliate shall constitute one party and OC Parent and its Affiliates shall constitute another party. For purposes of appointing such arbitrators, in the event that there are only two parties to a Dispute, each party shall appoint one arbitrator and either the third arbitrator shall be selected by the two party-appointed arbitrators or, failing agreement within thirty (30) days after the party-appointed arbitrators have been confirmed, by the ICC in accordance with the ICC Rules. In the event that there are more than two parties to a Dispute, the arbitrators shall be appointed in accordance with the ICC Rules. All submissions and awards in relation to arbitration under this JV Agreement shall be made in English and all arbitration proceedings and all pleadings shall be in English. For purposes of this Section 8.2, the term party to a Dispute may include groups of aligned parties.