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    Disposition of Applications for Modification/Clarification of Final Award

    WE, THE UNDERSIGNED ARBITRATORS, having been designated in accordance with the Arbitration Agreement entered into by the above-named Parties, and dated March 13, 2002, and having been duly sworn and having duly heard the proofs and allegations of the Parties, and having previously rendered a FINAL AWARD dated March 19, 2014 that was transmitted to the parties on March 21, 2014, and Claimant, by letter dated April 10, 2014, having made an Application for Modification of said Award pursuant to Rule R.-46 of the AAA’s Commercial Arbitration Rules amended and effective June I, 2009 ("Rule 46"), and Respondent, by letter dated April 21, 2014, having raised objections thereto, and Respondent, by letter dated April 11, 2014, having made an Application for Modification of said Award pursuant to Rule 46, and Claimant, by letter dated May 16, 2014, having raised objection thereto, and having read and fully considered the contentions of the Parties, do hereby DETERMINE, as follows:
    1.
    The Respondent’s request for Modification of the Final Award, which seeks a redetermination of matters decided in the Final Award, is beyond the authority of the Panel under Rule 46 and is denied.
    2.
    The Claimant’s request for Modification of the Final Award is granted in part and said Final Award is modified as follows:

    a) The calculation of the interest on the basis of twelve years instead of the thirteen years specified in the Award is corrected such that the aggregate rate of interest for the period specified in the Award shall read 78.39% and the Award is corrected to award to Claimant $4,770,216.16 in interest and to correct the Party Distribution to be $10,855,452.75.

    b) The clerical error in the description on page 1 of the Award of the "Private Agreement" of March 30, 1999 is corrected, on consent of Respondent, by striking the words "by merging that into the interest of Mrs. Zachariou."

    c) The clerical error in the third full paragraph on page 10 of the Award is corrected, on consent of Respondent, so that the second use of the word "Claimant" in the sentence objected to shall read "Respondent".

    d) The clerical error on page 16 of the Award is corrected, on consent of Respondent, so that the second use of the word "Claimant" in the sentence objected to shall read "Respondent".

    e) The request to recalculate the reimbursement of arbitration costs is denied.

    3.
    In all other respects, said Final Award dated March 19, 2014 is hereby reaffirmed.
    This Disposition may be signed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
    We hereby certify that, for the purposes of Article 1 of the New York Convention of 1958, on the Recognition and Enforcement of Foreign Arbitral Awards, this DISPOSITION OF APPLICATION FOR MODIFICATION/CLARIFICATION OF FINAL AWARD was made in New York, New York, United States of America.
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