Common use of Dispute Resolution; Venue Clause in Contracts

Dispute Resolution; Venue. In the event that any disagreement or dispute whatsoever shall arise between the parties concerning this Agreement, such disagreement or dispute shall be exclusively submitted to the Judicial and Mediation Services Inc. (“JAMS”) for resolution in a confidential private arbitration in accordance with the comprehensive rules and procedures of JAMS, including the internal appeal process provided for in Rule 34 of the JAMS rules with respect to any initial judgment rendered in an arbitration. Any such arbitration proceeding shall take place in Philadelphia, Pennsylvania or another location agreed upon in writing by the parties, before a single arbitrator (rather than a panel of arbitrators). Subject to applicable law, the parties agree that the arbitrator shall have no authority to award any punitive or exemplary damages and waive, to the full extent permitted by applicable law, any right to recover such damages in such arbitration. Each party shall each bear their respective costs (including attorneys’ fees, and there shall be no award of attorney’s fees) and shall split the fees and expenses of the arbitrator. Judgment upon the final award rendered by such arbitrator, after giving effect to the JAMS internal appeal process, may be entered in any court having jurisdiction thereof. If JAMS is not in business or is no longer providing arbitration services, then the American Arbitration Association shall be substituted for JAMS for the purposes of the foregoing provisions. Each party agrees that, except to the extent otherwise required by applicable law, it shall maintain absolute confidentiality in respect to any dispute between them under this Agreement.