Ti	=	PUNITIVE DAMAGES
0.sec	=	It is not entirely clear whether punitive damages can or cannot be awarded where the dispute resolution clause makes no mention of such damages. See Garity v. Lyle Stuart, Inc., 40 N.Y.2d 354 (1976); Mastrobuono v. Shearson Lehman Hutton, 514 U.S. 52 (1995). Thus, if the parties wish to preclude the arbitrator(s) from awarding punitive damages, they should include specific language to that effect in the dispute resolution clause. The following language accomplishes that purpose:
1.sec	=	In any arbitration arising out of or related to this Agreement, the arbitrator(s) are not empowered to award punitive or exemplary damages, except where permitted by statute, and the parties waive any right to recover any such damages.
	=	[G/Z/ol/s1]