Suite 6000
Dallas, Texas 75202
Telephone: (214) 953 5922
Facsimile: (214) 953 5822
Email: 
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or such other address as may be designated in writing hereafter, in the same
manner, by such Party.
26.
DEFAULT OF OBLIGATION BY CRDENTIA
IF CRDENTIA FAILS TO MAKE ANY PAYMENT
DUE UNDER SECTIONS 4, 7, AND 8 OF THIS AGREEMENT, OR IF CRDENITA FAILS TO MAKE
ANY PAYMENT DUE UNDER THE BONUS AND OTHER AGREEMENT, OR IF CRDENTIA FAILS TO
RETURN THE COLLATERAL AS PROVIDED BY SECTION 13, OR IF CRDENTIA OTHERWISE
COMMITS ANY MATERIAL BREACH OF THIS AGREEMENT, AND ANY OF THE FOREGOING SHALL
NOT HAVE BEEN REMEDIED WITHIN SEVEN (7) BUSINESS DAYS OF RECEIPT OF WRITTEN
NOTICE AND OPPORTUNITY TO CURE, OR IF CRDENTIA SHALL FILE OR BE THE SUBJECT OF
ANY BANKRUPTCY PROCEEDING OR RECEIVERSHIP, DURHAM SHALL BE RELEASED FROM THE
OBLIGATIONS REFERENCED IN SECTION 6 OF THIS AGREEMENT, AND DURHAM MAY THEREAFTER
PURSUE AN ACTION FOR BREACH OF THIS AGREEMENT PURSUANT TO SECTION 27 BELOW.
27.
ARBITRATION.
THE PARTIES AGREE THAT ANY AND ALL DISPUTES, CONTROVERSIES
AND/OR CLAIMS BETWEEN THE PARTIES, WHETHER BASED ON CONTRACT, TORT, STATUTE OR
OTHERWISE, INCLUDING BUT NOT LIMITED TO THOSE RELATING TO, ARISING FROM OR
CONNECTED IN ANY MANNER TO THIS AGREEMENT OR ANY OTHER AGREEMENT BETWEEN THE
PARTIES, OR ARISING OUT OF OR RELATING TO EMPLOYEE'S EMPLOYMENT OR SEVERANCE OF
EMPLOYMENT, SHALL, UPON TIMELY WRITTEN REQUEST OF EITHER PARTY BE SUBMITTED TO
AND RESOLVED BY BINDING ARBITRATION.
THE ARBITRATION SHALL BE CONDUCTED IN
DALLAS, TEXAS, BEFORE A SINGLE NEUTRAL ARBITRATOR IN ACCORDANCE WITH THE
NATIONAL RULES FOR RESOLUTION OF COMMERCIAL DISPUTES OF THE AMERICAN ARBITRATION
ASSOCIATION ("AAA") THEN IN EFFECT.
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.
28.
GOVERNING LAW, FORUM AND VENUE.
THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH, AND BE DEEMED GOVERNED BY, THE LAWS OF THE STATE OF TEXAS, AND
THE PARTIES AGREE THAT THE PROPER FORUM AND VENUE FOR ANY ACTION BROUGHT ARISING
OUT OF OR RELATING IN ANYWAY TO THIS AGREEMENT SHALL BE IN DALLAS, TEXAS.
29.
COOPERATION IN EXECUTING SETTLEMENT DOCUMENTATION.
THE PARTIES TO THIS
AGREEMENT SHALL EXECUTE ANY AND ALL FURTHER DOCUMENTS THAT MAY BE REQUIRED TO
EFFECTUATE THE PURPOSES OF THIS AGREEMENT.
30.
BINDING ON SUCCESSORS.
THIS AGREEMENT SHALL BE BINDING UPON AND SHALL
INURE TO THE BENEFIT OF THE PARTIES HERETO AND TO THEIR RESPECTIVE
REPRESENTATIVES, SUCCESSORS, HEIRS, AGENTS AND ASSIGNS.
31.
COUNTERPARTS.
THIS AGREEMENT MAY BE EXECUTED IN COUNTERPARTS, AND IF SO
EXECUTED EACH SUCH COUNTERPART SHALL HAVE THE FORCE AND EFFECT OF AN ORIGINAL.
PHOTOCOPIES OF SUCH SIGNED COUNTERPARTS MAY BE USED IN LIEU OF THE ORIGINALS FOR
ANY PURPOSE.
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32.
SEVERABILITY.
IN THE EVENT ANY PROVISION OF THIS AGREEMENT SHALL BE FOUND
UNENFORCEABLE BY A COURT OF COMPETENT JURISDICTION, SUCH PROVISION SHALL BE
DEEMED MODIFIED TO THE EXTENT NECESSARY TO ALLOW ENFORCEABILITY OF THE PROVISION