Arbitration Agreement

Table of contents of the arbitration agreement

§1 Zuständigkeit des Schiedsgerichts

1. All disputes arising from the contract shall be settled by an arbitration tribunal, excluding recourse to ordinary legal proceedings. This also applies to disputes concerning the validity, implementation and termination of the contractual relationship, individual contractual provisions and any addenda.

2. The arbitration tribunal may only be convened if the parties have been unable to reach an amicable solution to a dispute concerning the interpretation of the contract within six weeks of written notification of the intention to convene the tribunal.

§2 Composition and invocation of the arbitral tribunal

1. The arbitration tribunal shall consist of three arbitrators, namely two associate arbitrators and a presiding arbitrator.

2. Each party shall appoint an associate arbitrator. The two appointed arbitrators shall appoint a presiding arbitrator who must be qualified to hold judicial office in accordance with the provisions of the Federal Republic of Germany.

3. The party wishing to refer the matter to arbitration shall do so by stating the subject matter and grounds of the claim and a specific request, while at the same time naming (name, address) of an arbitrator from the respondent party by registered letter and at the same time request that the respondent party appoint an arbitrator within three weeks of receipt of the request letter.

4. If the respondent fails to appoint an arbitrator willing to accept the office within the period specified in paragraph 3, or if the two appointed arbitrators fail to appoint the presiding arbitrator within three weeks of the appointment of the second arbitrator, the associate arbitrator or the presiding arbitrator shall be appointed by the President of the Chamber of Industry and Commerce in Bayreuth at the request of one of the parties.

5. Several claimants bringing proceedings before the arbitral tribunal or several persons on the defendant’s side shall each be deemed to be one party. Several claimants or several defendants may only appoint an arbitrator jointly. The appointment must be made vis-à-vis all persons involved on the opposing side.

6. If several claimants who can only assert their rights jointly fail to agree on an arbitrator within a reasonable period of time, each claimant shall be entitled to request the President of the Chamber of Industry and Commerce in Bayreuth to appoint a joint arbitrator for the claimant side.

7. Each plaintiff or defendant may submit the application referred to in paragraph 4 to the President of the Chamber of Industry and Commerce in Bayreuth individually.

§3 Withdrawal of an arbitrator

1. If an arbitrator dies or is otherwise unable to perform his duties, or refuses to accept or perform the duties of arbitrator, a new arbitrator shall be appointed by the party originally entitled to appoint an arbitrator, or a new chairman shall be appointed by the two associate arbitrators, within three weeks of a request by the other party. § 2 (3) to (7) shall apply mutatis mutandis.

2. Unless mandatory statutory provisions dictate otherwise, the arbitral tribunal in its new composition shall decide at its discretion whether and to what extent the previous proceedings should be repeated in whole or in part. In any case, the parties must be given the opportunity to comment again.

§4 Procedure

1. The arbitral tribunal shall sit in Bayreuth, Germany, unless the three arbitrators or the parties agree on another place of meeting.

2. The parties shall be heard orally before the arbitral tribunal, unless both parties waive their right to oral proceedings.

3. In all other respects, the provisions of Book 10 of the Code of Civil Procedure shall apply to the proceedings of the arbitral tribunal.

4. The arbitral tribunal shall also decide on the costs of the arbitration proceedings.

5. No appeal may be lodged against the decision of the arbitration tribunal.

This contract shall become legally effective upon installation.