In the event of dispute, either party may call for escalation by written notice to the other. Within __ business days of such notice, each party shall designate an executive with authority to make commitments that would resolve the dispute (a “Senior Manager”). The parties’ Senior Managers shall meet in person or by telephone (“Dispute Conference”) within __ business days of their designation and shall negotiate in good faith to resolve the dispute. Except to the extent necessary to prevent irreparable harm or to preserve rights or remedies, neither party shall initiate arbitration or litigation until 10 business days after the Dispute Conference.
If the parties cannot themselves resolve a dispute arising out of or related to this Agreement, they shall attempt to resolve such dispute through mediation under the auspices of ___________ [ADR association], in __________ [city], with the parties sharing equally the costs of mediation. Except to the extent necessary to prevent irreparable harm or to preserve rights or remedies, neither party shall initiate arbitration or litigation until 30 days after the first mediation conference, unless the other party has materially breached its obligations set forth in the preceding sentence.
Any claim arising out of or related to this Agreement, including without limitation claims related to the parties’ negotiations and inducements to enter into this Agreement, shall be submitted to mandatory, binding arbitration under the auspices of ___________ (the “ADR Association”), in __________ [city], with the parties sharing equally the costs of arbitration. Arbitration will proceed according to the commercial rules of the ADR Association. This Section __ does not limit either party’s right to provisional or ancillary remedies from a court of competent jurisdiction before, during, or after the pendency of any arbitration, and the exercise of any such remedy does not waive either party’s right to arbitration. Judgment on an arbitration award may be entered by any court with competent jurisdiction.