iHeartMedia 2003 Annual Report Download - page 165

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15. ARBITRATION.
The parties agree that any dispute, controversy or claim, whether based
on contract, tort, statute, discrimination, retaliation, or otherwise, relating
to, arising from or connected in any manner to this Agreement, or to the alleged
breach of this Agreement, or arising out of or relating to Executive’s
employment or termination of employment, shall, upon timely written request of
either party be submitted to and resolved by binding arbitration. The
arbitration shall be conducted in San Antonio, Texas. The arbitration shall
proceed in accordance with the National Rules for Resolution of Employment
Disputes of the American Arbitration Association ("AAA") in effect at the time
the claim or dispute arose, unless other rules are agreed upon by the parties.
Unless otherwise agreed to by the parties in writing, the arbitration shall be
conducted by one arbitrator who is a member of the AAA and who is selected
pursuant to the methods set out in the National Rules for Resolution of
Employment Disputes of the AAA. Any claims received after the
applicable/relevant statute of limitations period has passed shall be deemed
null and void. The award of the arbitrator shall be a reasoned award with
findings of fact and conclusions of law. Either party may bring an action in any
court of competent jurisdiction to compel arbitration under this Agreement, to
enforce an arbitration award, and to vacate an arbitration award. However, in
actions seeking to vacate an award, the standard of review to be applied by said
court to the arbitrator’s findings of fact and conclusions of law will be the
same as that applied by an appellate court reviewing a decision of a trial court
sitting without a jury. The Company will pay the actual costs of arbitration
excluding attorney’s fees. Each party will pay its own attorneys fees and other
costs incurred by their respective attorneys.
APPROVED AND AGREED:
DATE: Brian E. Becker
---------------------
/s/ BRIAN E. BECKER
----------------------------------
DATE: Clear Channel Communications, Inc.
---------------------
/s/ MARK P. MAYS
----------------
Mark P. Mays
President and Chief Operating
Officer
cc: Marvin D. Nathan
Nathan Sommers Jacobs + Gorman, P.C.
2800 Post Oak Blvd. 61st Floor
Houston, Texas 77056