Common use of ARBITRATION AND LITIGATION Clause in Contracts

ARBITRATION AND LITIGATION. In the event the Company terminates Executive by reason of his Disability or for Cause and Executive disputes the accuracy of such assertion of Disability or Cause, or in the event Executive terminates his employment for Good Reason and the Company disputes the accuracy of such assertion of Good Reason, the accuracy of such assertion shall be submitted to arbitration in accordance with the then current commercial arbitration rules of the American Arbitration Association ("Association") or its successor, provided Executive or the Company files a written demand for arbitration at a regional office of the Association within thirty (30) days following the Date of Termination. During the pendency of the arbitration proceeding, Executive will continue to be paid his Salary and receive the other compensation benefits set forth in Section 5. In the event the arbitrator finds that the termination by the Company was not for Disability or not for Cause, as applicable, or that the termination by Executive was for Good Reason, Executive shall not be entitled to reinstatement, but shall be entitled to the benefits of Section 8(c) and in either case payment of his reasonable legal expenses in such arbitration.

ARBITRATION AND LITIGATION. In the event the Company terminates Executive by reason of his Disability or for Cause and Executive disputes the accuracy of such assertion of Disability or Cause, or in the event Executive terminates his employment for Good Reason and the Company disputes the accuracy of such assertion of Good Reason, the accuracy of such assertion shall be submitted to arbitration in accordance with the then current commercial arbitration rules of the American Arbitration Association ("Association") or its successor, provided Executive or the Company files a written demand for arbitration at a regional office of the Association within thirty (30) days following the Date of Termination. During the pendency of the arbitration proceeding, Executive will continue to be paid his Salary and receive the other compensation benefits set forth in Section 5. In the event the arbitrator finds that the termination by the Company was not for Disability or not for Cause, as applicable, or that the termination by Executive was for Good Reason, Executive shall not be entitled to reinstatement, but shall be entitled to the benefits of Section 8(c) and in either case payment of his reasonable legal expenses in such arbitration.