Common use of ARBITRATE CLAIMS Clause in Contracts

ARBITRATE CLAIMS. Executive recognizes that differences may arise between the Company and Executive during or following Executive's employment with the Company, and that those differences may or may not be related to Executive's employment. Executive understands and agrees that by entering into the Employment Agreement (the "EMPLOYMENT AGREEMENT") with the Company into which this Mutual Agreement to Arbitrate Claims is incorporated by reference ("ARBITRATION AGREEMENT"), Executive anticipates gaining the benefits of a speedy, impartial dispute-resolution procedure. Executive understands that any capitalized terms used but not defined in this Arbitration Agreement shall have the meanings ascribed thereto in the Employment Agreement, provided that any reference in this Arbitration Agreement to the Company will also be a reference to all subsidiary and affiliated entities; all benefit plans; the benefit plans' sponsors, fiduciaries, administrators, affiliates; and all successors and assigns of any of them. Claims Covered by the Agreement The Company and Executive mutually consent to the resolution by arbitration of all claims ("claims"), whether or not arising out of Executive's employment (or its termination), that the Company may have against Executive or that Executive may have against the Company or against its officers, directors, employees or agents in their capacity as such or otherwise. The claims covered by this Arbitration Agreement include, but are not limited to, claims for wages or other compensation due; claims for breach of any contract or covenant (express or implied); tort claims; claims for discrimination (including, but not limited to, race, sex, religion, national origin, age, marital status, medical condition, or disability); claims for benefits (except where an employee benefit or pension plan specifies that its claims procedure shall culminate in an arbitration procedure different from this one), and claims for violation of any federal, state, or other governmental law, statute, regulation, or ordinance, except claims excluded in the Claims Not Covered section below. Except as otherwise provided in this Arbitration Agreement, both the Company and Executive agree that neither 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 Arbitration Agreement. Claims Not Covered by this Arbitration Agreement Claims Executive may have for workers' compensation or unemployment compensation benefits are not covered by this Arbitration Agreement. Also not covered are claims by the Company for injunctive and/or other equitable relief for unfair competition and/or the use and/or unauthorized disclosure of trade secrets or confidential information, as to which Executive understands and agrees that the Company may seek and obtain relief from a court of competent jurisdiction.