7.10 Mandatory Mediation. Prior to and as a condition of either Partys filing suit in state or federal court, the Parties shall engage in a mediated settlement conference in accordance with the North Carolina Superior Court RulesImplementing Statewide Mediation. The Parties shall mediate in good faith until settlement is reached or an impasse is declared by the mediator.
On January 31, 2019, the Company went to arbitration against FOGT, LLC for breaching their contract agreement. On March 9, 2019, the Companys legal team, received an emergency relief injunction against FOGT, LLC for $25,000. Fredric Oeschger refused to pay. On April 10, 2019, another emergency relief injunction was granted to our Company. Fredric Oeschger refused to pay. On or before the end of August 2019, the United States Second Circuit Appeals Court, ordered FOGT, LLC and GeneThera, Inc. to have a mandatory mediation. On September 3, 2019, FOGT, LLC and GeneThera Inc. agreed to settle the case against FOGT for breach of contract. On September 6, 2019, FOGT, LLC and GeneThera, Inc. reached a settlement of $425,000. The legal team received $171,000 from this settlement resulting in net proceeds to the Company of approximately $254,000.
Section8.3 Mandatory Mediation. Any Dispute not resolved pursuant to Section8.2 shall, at the written request of any Party (a Mediation Request), be submitted to mandatory mediation in accordance with the International Institute for Conflict Prevention& Resolution (CPR) Mediation Procedure (the Procedure) then in effect, except as otherwise set forth in this ArticleVIII. The mediation shall be held in New York, New York or in such other place as the Parties may mutually agree. The Parties shall have twenty (20)days from receipt by a Party of a Mediation Request to agree on a mediator. If no mediator has been agreed upon by the Parties within twenty (20)days of receipt by a Party of a Mediation Request, then any Party may request (on written notice to the other Party), that CPR appoint a mediator in accordance with the Procedure. If the Dispute has not been resolved within the earlier of sixty (60)days of the appointment of a mediator or ninety (90)days after receipt by a Party of a Mediation Request, or within such longer period as the Parties may agree to in writing, either Party may submit the Dispute to binding arbitration in accordance with Section8.4; provided, however, that if one Party fails to participate in the mediation, the other Party may commence arbitration in accordance with Section8.4 prior to the expiration of the time periods set forth above.