|COMERICA INC /NEW/ filed this Form 8-K on 01/11/2019|
when a party reasonably believes that there will be no agreement on the selection of a single, neutral arbitrator, that party may notify the other at the address provided in Paragraph 17 of this Agreement of the fact an impasse has been reached, (2) within five (5) days of receipt of such notice, each party must provide the other with the name of its respective panel member, and (3) within ten (10) days of their selection, the parties’ panel members must agree on the third, neutral member of the arbitration panel.
The arbitrator, or arbitration panel (“panel”) if one is utilized, shall have the power to enter any award that could be entered by a judge of a trial court of the State of Michigan, and only such power, and shall follow the law. Notwithstanding the foregoing, the arbitrator or panel may award reasonable attorney fees and costs to the prevailing party. In the event the arbitrator or panel does not follow the law, the arbitrator or panel will have exceeded the scope of his or her authority and the parties may, at their option, file a motion to vacate the award in court. Except as otherwise provided herein, the parties agree to abide by and perform any award rendered by the arbitrator. The arbitrator or panel shall issue the award in writing and therein state the essential findings and conclusions on which the award is based. Judgment on the award may be entered in any court having jurisdiction thereof. In no event shall the demand for arbitration be made after the date when institution of legal or equitable proceedings based on such claim, dispute or other matter in question would be barred by the applicable statute of limitations. This agreement to arbitrate shall be
Restrictive Covenants and General Release Agreement 18 of 21