The parties to this High/Low Arbitration Agreement are:
____________________________ by ____________________________;
____________________________ by ____________________________.
The parties hereby agree to participate in a binding arbitration hearing pursuant to a contract to Arbitrate dated _____________ and the Consolidated Arbitration Rules of United States Arbitration & Mediation.
The following High/Low provisions shall be applicable:
ONE : The parties agree that the arbitration award shall not be above a “High” figure of $_____________ or below a “Low” figure of $_____________.
TWO: In the event that the amount of the arbitrator’s award is above the “High” figure, the parties hereby stipulate that the award shall be modified to reflect an amount equal to the amount of the “High” figure.
THREE : In the event that the amount of the arbitrator’s award is below the “Low” figure, the parties hereby stipulate that the award shall be modified to reflect an amount equal to the “Low” figure.
FOUR: It is hereby agreed that the defendant will pay and the claimant/plaintiff will accept payment of the award amount rendered in accordance with this High/Low Agreement.
The following provisions must also be completed:
The terms of this High/Low Agreement ( ) are/( ) are not to be disclosed to the arbitrator prior to the award.