Settlement Proposals. Each Party shall present an overall settlement proposal to the arbitrator or arbitrators which shall encompass all issues to be resolved. The proposals from each Party shall set the outer limits of the range within which the arbitrator or arbitrators may make a determination as to the appropriate settlement result. If such appropriate settlement result is less than $250,000 in amount, it shall be deemed to be zero, unless the arbitrator or arbitrators determine that there was not a reasonable basis for the position of the non-prevailing Party. If such appropriate settlement result is not less than $250,000 in amount, $250,000 shall be subtracted from such appropriate settlement result by the arbitrator or arbitrators in reaching their determination of the amount to be awarded one of the Parties, unless the arbitrator or arbitrators determine that there was not a reasonable basis for the position of the non-prevailing Party.
Appears in 2 contracts
Sources: Tax Allocation Agreement (Overnite Corp), Tax Allocation Agreement (Overnite Corp)