1. THE PARTIES

1.1 The United States Olympic Committee (hereinafter the "USOC" or the "Claimant") is the National Olympic Committee of the United States of America ("USA"), responsible for the US Olympic Teams. It has its seat in Colorado Springs, USA.

1.2 The International Olympic Committee (hereinafter the "IOC" or the "Respondent") is "an international non-governmental not for profit organization of unlimited duration, in the form of a Swiss association with the status of a legal person recognized by the Swiss Federal Council" (see Olympic Chmier ("OC") 1 Article 15(1)). It has its seat in Lausmme, Switzerland. The IOC is governed by Swiss private law, in miicles 60-79 of the Swiss Civil Code ("CCS").

2. FACTUAL BACKGROUND

2.1 This section summarizes the main relevant facts and allegations based on the parties' written submissions, pleadings, and the hearing process. In this Award, additional facts and allegations may be set out, where relevant, in connection with the legal discussion that follows. The Panel has considered all the factual allegations, legal arguments and evidence submitted by the pmiies in the present proceedings, but it refers in its Award only to the submissions and evidence it considers necessary to explain its reasoning.

2.2 The IOC Executive Board, at its meeting in Osaka, Japan on 27 June 2008, enacted the following rule which has come to be known as the "Osaka Rule" and is referred to as the "Decision" by the USOC and the "IOC Regulation" by the IOC. The Panel will refer to it as the "IOC Regulation" or the "Regulation."

"The IOC Executive Board, in accordance with Rule I9.3.IO OC and pursuant to Rule 45 OC, hereby issues the following rules regarding participation in the Olympic Games: