Nautilus 2006 Annual Report Download - page 174

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37
Article 12.10
Governing Law
. This Agreement shall be governed by, and construed in accordance with, the laws of the PRC.
Article 12.11
Arbitration
.
(1) Except as provided in Article 12.2, all disputes arising in connection with or relating to this Agreement shall be finally
settled by binding arbitration in accordance with the International Arbitration Rules of the American Arbitration Association.
The tribunal shall be composed of a sole arbitrator. The arbitration shall be conducted in the English language at San
Francisco under the U.S. Federal Arbitration Act.
(2) Any arbitral award rendered shall be final, binding and non-appealable and may be entered and enforced as a judgment with
any court having jurisdiction.
(3) To the extent this Article is deemed to be a separate agreement independent from this Agreement, Article 12.10 concerning
governing law and Article 12.7 concerning notices are incorporated herein by reference.
(4) Any Party may, without inconsistency with this agreement to arbitrate, seek from a court any provisional remedy that may
be necessary to preserve its rights, to protect intellectual property or to prevent the disposal of assets at any time before,
during or after the arbitration proceedings.
Article 12.12 Successors and Assigns . This Agreement shall be binding upon and inure to the benefit of the Parties and the successors or
assigns of the Parties, provided that the rights of Seller herein may not be assigned and the rights of Nautilus and Buyer may
only be assigned (without Seller’s and Shareholders’ consent) to an Affiliate of Nautilus (as long as Nautilus shall remain
liable hereunder).
Article 12.13 Language; Schedules; Headings; Counterparts . This Agreement is written both in the Chinese and English languages. Both
versions shall have equal validity, but in the event of a conflict between the two versions the English version shall prevail.
All Schedules attached to this Agreement are an integral part hereof and are incorporated herein by reference as though set
forth in full. The headings used in this Agreement are for convenience only and shall not be used in the interpretation of any
provision of this Agreement or affect any right or obligation under this Agreement. This Agreement may be executed in any
number of counterparts and by different Parties in separate counterparts, each of which when so executed shall be deemed to
be an original and all of which taken together shall constitute but one and the same agreement.
Article 12.14 Joint and Several Obligations . The liability of Seller and each Shareholder hereunder shall be joint and several with Seller
and with the Shareholders.