NON-­‐DISCLOSURE

 AND  CONFIDENTIALITY  AGREEMENT  –  NDA  

 
THIS   AGREEMENT   (hereinafter   referred   to   as   the   “Agreement”)   is   made   and  
entered  into  on  the  _______  day  of  ________  20__  by  and  between:  
 
 
(1) ____________________________________   of   legal   age,   with   address   at  
____________________________________________________________   herein   after   referred  
to  as  “Disclosing  Party”    
 
and  
 
(2) ____________________________________   of   legal   age,   with   address   at  
____________________________________________________________   herein   after   referred  
to  as  “Receiving  Party”    
 
Both  the  Disclosing  Party  and  Receiving  Party  are  referred  to  hereafter  as  “The  
Parties”.  
 
 
WHEREAS:  
 
A. In  the  course  of  discussions  between  the  Parties,  it  may  be  desirable  to  share  
Confidential  Information.  
 
B. The   Disclosing   Party   wishes   to   maintain   the   confidential   nature   of   its  
information  provided  under  this  Agreement.  
 
C. The  parties  wish  to  receive  such  information  and  are  prepared  to  receive  it  
on  a  confidential  basis  and  for  the  limited  purpose  of  providing  their  services  
contracted,   including   any   assistance,   design,   consulting   or   other   form   of  
cooperation   between   the   Parties,   and   their   potential   participation   in   such  
opportunities.  
 
 
 
 
 
NOW  THEREFORE,  The  Parties  agree  as  follows:  
 
 
1.  DEFINITIONS  AND  INTERPRETATIONS  
 
1.1 Definitions  
 
“Affiliate”   means   any   company   or   legal   entity   which   controls,   or   is   controlled   by,   or  
which   is   controlled   by   an   entity   that   controls,   a   Party.   ”Control”   means   the  
ownership   directly   or   indirectly   or   twenty   five   (25)   percent   or   more   of   the   voting  
rights  in  a  company  or  other  legal  entity.  
 
“Business   Day”  means  any  day,  when  the  banks  in  the  Republic  of  the  Philippines,  
are   normally   open   for   business,   generally   a   day   other   than   a   Saturday,   Sunday,  
public  holiday  or  bank  holiday.  
 
“Confidential  Information”  has  the  meaning  given  in  Article  2.2.  
 
“Disclosing   Party”  Means,  with  respect  to  Confidential  Information,  the  Party  that  
from   time   to   time   discloses   or   has   disclosed   Confidential   Information   to   the   other  
Party  pursuant  to  this  Agreement.  
 
“Effective  Date”  means  the  date  of  the  effectivity  of  this  Agreement.  
 
“Opportunity”   means   any   potential   project   or   other   opportunity,   including   any  
design,  advice,  consultancy,  or  other  form  of  cooperation  between  the  Parties.  
 
“Person”   means   any   person,   company,   firm,   partnership,   association,   body  
corporate,   governmental   agency,   or   other   legal   entity   that   is   not   a   Party   to   this  
Agreement   including   without   limitation,   natural   persons,   groups   of   persons   and  
legal  entities.  
 
“Purpose”  means  any  evaluation  or  advice  by  the  Receiving  Party.  
 
“Receiving   Party”   means   with   respect   to   Confidential   Information,   the   Party   that  
from   time   to   time   receives   or   has   received,   directly   or   indirectly,   that   information  
from  other  Party  pursuant  to  this  Agreement.  
 
“Representatives”   means,   with   respect   to   a   Party   of   its   Affiliates,   its   employees,  
officers,  directors  and  any  professional  consultants  or  agents  retained  by  it  or  them.  
 
1.2 Interpretation  
 
 
a) References  to  “day”,  “month”  and  “year”  shall  unless  otherwise  stated  mean  
a  Gregorian  calendar  day,  month  and  year  respectively.  
 
b) Where  the  context  requires,  words  denoting  the  singular  only  shall  also  
include  the  plural  or  vice  versa.  References  to  “third  party”  shall  include  
natural  persons  and  bodies  corporate,  unincorporated  associations  and  
partnerships.  
 
c) Unless  the  context  otherwise  requires,  any  reference  to  a  statutory  provision  
(including  those  contained  in  subordinate  legislation)  is  a  reference  to  such  
provisions  as  amended  or  re  enacted  or  as  modified  by  other  statutory  
provisions  from  time  to  time  and  includes  subsequent  legislation  made  under  
the  relevant  statute.  
 
d) References  to  the  word  “include”  and  “including”  are  to  be  construed  
without  limitation.  
 
e) The  words  “will”  and  “shall”  are  employed  interchangeably  in  this  
Agreement  with  no  difference  of  meaning.  
 
f) The  word  “notify”  means  to  give  notice  pursuant  to  this  Agreement.  
 
 
2  DISCLOSURE  OF  CONFIDENTIAL  INFORMATION  
 
2.1   The   disclosing   party   is   willing   in   accordance   with   the   terms   and   conditions   of  
this   Agreement,   to   disclose   (either   directly   or   through   its   Representatives)   to   the  
Receiving   Party   (or   its   Representatives)   certain   Confidential   Information   at   the  
Disclosing   Party’s   sole   discretion,   subject   to   the   terms   and   conditions   of   this  
Agreement.   The   Receiving   Party   shall   use   such   Confidential   Information   solely   for  
the  Purpose.  
 
2.2  For  the  purpose  of  this  Agreement,  “Confidential   information”  shall  mean  any  
and  all  information  which  is  disclosed  to  the  Receiving  Party  or  its  Representatives  
by  the  Disclosing  Party  or  its  Representatives,  in  writing  or  other  visual  form,  orally,  
recorded  on  tape  or  other  media,  or  disclosed  through  magnetic  or  other  electronic  
means,   or   discussions   between   the   Parties   in   each   case   whether   or   not   such  
information  is  labeled  or  otherwise  identified  as  private,  proprietary  or  confidential.  
Confidential  Information  shall  include  but  not  limited  to:  
 
a) business,  technical  and/or  operational  information;  
 
b) commercial,  contractual  and  financial  arrangements;  
 
c) all  information  regarding  the  Disclosing  Party  of  its  Affiliates  or  joint  venture  
partners   including   technical   information,   proprietary   information   and  
business  and  operational  information;  
 
d) all  memoranda,  reports,  valuations,  analyses,  and  summaries  of  Confidential  
Information   that   Receiving   Party   and   its   Affiliates   derive,   from   such  
Confidential   Information   disclosed   to   it   or   them,   directly   or   indirectly   by  
Disclosing   Party   or   otherwise   learned   by   it   n   them   in   discussions   concerning  
the  Purpose;  
 
e) the  existence  and  content  of  the  Agreement;  
 
f) the  fact  that  a  Party  has  communicated  with  the  other  Party  concerning  the  
Purpose  and  the  fact  that  the  Parties  are  exchanging  information  or  holding  
discussions  regarding  the  Purpose.  
 
 
 
 
3.  UNDERTAKING  NOT  TO  DISCLOSE  
 
 
3.1   The   Receiving   Party   agrees   that   the   Confidential   Information   is   deemed   to   be  
confidential   and   proprietary   to   the   Disclosing   Party,   its   Affiliates   or   to   others   as  
applicable,   and   undertakes   to   keep   it   strictly   confidential,   ensuring   its   protected  
with  a  degree  of  care  that  would  apply  to  its  own  Confidential  Information,  and  not  
to   sell,   trade,   publish   or   otherwise   disclose   such   Confidential   Information   to   anyone  
in  any  manner  whatsoever,  including  by  means  of  photocopy,  reproduction,  without  
the  Disclosing  Party’s  prior  written  consent,  except  as  provided  in  Articles  4,  5  and  6  
below.  
 
3.2  The  Receiving  Party  shall  keep  the  Confidential  Information  confidential  and  not  
use   or   allow   it   to   be   used   by   any   Person   with   whom   Receiving   Party   shares   such  
Confidential   Information   pursuant   to   this   Agreement   for   any   purpose   other   than   for  
the  Purpose.  
 
3.3  The  _____________________  details  and  other  sensitive  information  sourced  from  the  
Protected   Client   shall   absolutely   not   be   disclosed   to   any   person,   company,   entity,  
organization   or   any   other   undertaking,   without   express   consent   and   knowledge   of  
the  Protected  Client,  the  Disclosing  Party  and  the  Receiving  Party.  
 
  
4.  CERTAIN  INFORMATION  EXCEPTED  FROM  CONFIDENTIALITY  
 
 
4.1   The   Receiving   Party   may   disclose   Confidential   Information   with   Disclosing  
Party’s  Prior  written  consent  only  to  the  extent  such  information:  
 
(a) Is   already   in   possession   of   the   public,   or   becomes   available   to   the   public  
other  than  through  the  act  or  omission  of  the  Receiving  Party,  or  of  any  other  
Person   to   whom   the   Confidential   Information   is   disclosed   by   the   Receiving  
Party;  
 
(b) The   Receiving   Party   can   establish,   to   the   reasonable   satisfaction   of   the  
Disclosing   Party,   as   evidenced   by   written   records   in   existence   at   that   time  
that   it   received   the   information   from   a   source   not   connected   with   the  
Disclosing  party  or  its  Affiliates,  or  its  or  their  Representatives,  and  that  such  
source   is   not   under   any   obligation   of   confidence   in   respect   of   that  
information;  
 
(c) Is  developed  by  the  Receiving  Party  or  any  of  its  Affiliates,  independently  of  
the  Confidential  Information  received  from  the  Disclosing  Party;  or  
 
(d) Is  deemed  to  be  not  confidential  by  prior  written  agreement  of  the  Parties.  
 
 
 
5.  PERMITTED  DISCLOSURE  BY  RECEIVING  PARTY  
 
 
5.1   The   Receiving   Party   shall   be   entitled   to   disclose   the   Confidential   information  
without   the   Disclosing   Party’s   prior   written   consent   to   the   Disclosing   Party’s  
Affiliates   and   such   of   the   following   Persons,   if,   and   to   the   extent   that,   they   have   a  
clear  need  to  know  in  order  to  evaluate  any  Opportunity:  
 
(a) Representatives  of  the  Receiving  Party;  
 
(b) Representatives  of  the  Receiving  Party’s  Affiliates.  
 
5.2   Prior   to   making   any   such   disclosure   to   its   Affiliates   and   to   Persons   under  
subparagraphs   (a)   to   (b)   above,   the   Receiving   Party   shall   ensure   that   such   Affiliates  
and  Persons  are  aware  of  the  confidential  nature  of  the  Confidential  Information  and  
the   obligations   contained   within   this   Agreement,   and   it   shall   remain   liable   to   the  
Disclosing  Party  for  the  adherence  of  all  such  Affiliates  and  Persons  to  the  terms  of  
this  Agreement.  
 
5.3   Subject   to   Article   13.1,   the   Receiving   Party   hereby   agrees   to   indemnify   the  
Disclosing  Party,  its  Affiliates,  the  Protected  Client  and  any  of  its  or  their  respective  
Representatives   and   hold   them   harmless   against   any   action,   claim,   cost   (including  
reasonable   legal   fees),   loss,   liability,   expense,   or   damage   they   may   suffer   or   incur  
from   a   breach   of   this   Agreement   by   either   the   Receiving   Party,   its   Affiliates   or   its   or  
their  respective  Representatives,  or  enforcement  of  Disclosing  Party’s  rights  under  
this  Agreement.  
 
 
6.  DISCLOSURES  REQUIRED  BY  AUTHORITIES  
 
  
6.1   In   the   event   the   Receiving   Party   is   informed   or   becomes   aware   that   it   or   its  
Affiliates  may  be  required  by  applicable  law  or  order  of  a  court,  arbitration  tribunal,  
or  duly  empowered  governmental  body  (hereinafter  “Authority”)  to  make  available  
or   disclose   Confidential   Information   received   from   the   Disclosing   Party   to   an  
Authority  or  Person  specified  by  an  Authority,  Receiving  Party,  will  promptly  inform  
the   Disclosing   Party   by   notice   and   will   keep   Disclosing   Party   promptly   and   fully  
informed  of  all  the  developments  relating  to  possible  disclosure  of  such  Confidential  
Information.   The   Parties   will   cooperate   with   one   another   on   a   good   faith   basis   to  
narrow   the   request   or   obtain   other   mutually   acceptable   resolution   with   the  
Authority.  
 
6.2   Subject   to   Article   6.1,   where   Receiving   Party   or   its   Affiliates   is   compelled,   to  
disclose   such   Confidential   Information,   Receiving   Party   shall,   to   the   extent  
permissible  by  law,  use  its  reasonable  endeavors  to:  
 
a) prior   to  any  such  disclosure,  provide  Disclosing  Party  at  the  earliest  possible  
time   with   full   details   of   the   disclosure   requirement   and   any   planned  
disclosure;  
 
b) furnish   only   that   portion   of   such   Confidential   Information   that   Receiving  
Party  is  required  to  disclose;  and  
 
c) seek,  and  permit  Disclosing  Party  its  own  expense  to  participate  in  seeking  at  
the  earliest  possible  time,  written  agreement  or  assurances  of  the  Authority  
that  it  will  cause  any  Person  receiving  such  Confidential  Information  to:  
 
(i) comply   with   the   confidentiality   and   restricted   use   provisions   of   this  
Agreement  (and  in  the  event  the  Authority  itself  is  the  sole  recipient  of  
the   information   also   afford   such   Confidential   Information   all  
confidential,  safekeeping  and  restricted  use  protections  permitted  by  
law;  
 
(ii) mark   such   Confidential   Information   to   reflect   that   it   is   confidential  
and/or  proprietary  and  subject  to  a  confidentiality  agreement;  
 
(iii) store   such   Confidential   Information   in   locked,   secure   files   separate  
from  other  information  and  subject  to  controlled  access;  
 
(iv) disclose   such   Confidential   Information   only   to   Persons   with   a   clear  
need  to  know;  
 
(v) limit   disclosures   to   extracts   and   summaries   to   the   maximum   extent  
possible;  and  
 
(vi) confine,   to   the   extent   permitted   by   law,   disclosure   to   the   first  
Authority  which  receives  such  Confidential  Information.  
 
6.3  The  Receiving  Party  shall  co-­‐operate  with  the  Disclosing  Party  if  the  Disclosing  
Party   decides   to   bring   any   legal   or   other   proceedings   to   challenge   the   validity   of   the  
requirement  to  disclose  Confidential  Information  (at  the  Disclosing  Party's  cost  and  
expense).  
 
6.4   If   the   Receiving   Party   is   unable   to   inform   the   Disclosing   Party   before  
Confidential   Information   is   disclosed,   the   Receiving   Party   shall   to   the   extent  
permitted   by   law)   inform   the   Disclosing   Party,   as   soon   as   practicable   after   the  
disclosure   of   the   full   circumstances   of   the   disclosure   and   the   information   that   has  
been  disclosed  
 
7.  RESTRICTION  ON  USE  OF  CONFIDENTIAL  INFORMATION  
 
 
7.1   The   Receiving   Party   and   its   affiliates   shall   only   use   or   permit   the   use   of   the  
Disclosing   Party's   Confidential   Information   and/or   any   analysis   utilising   such  
Confidential  Information  for  the  Purpose.  The  confidentiality  and  use  obligations  set  
forth  in  this  Agreement  shall  continue  for  the  period  specified  in  Article  11.  
 
7.2  The  Receiving  Party  
 
a) shall   be   responsible   for   adopting   and   entorcing   controls   to   ensure   that   all  
Persons   to   whom   the   Confidential   information   is   disclosed   by   it   as   a  
Receiving   Party   under   this   Agreement   shall   keep   such   information  
confidential,   shall   not   disclose   or   divulge   the   same   to   any   Person   not  
authorised  by  this  Agreement  to  receive  such  information,  and  shall  comply  
with  the  restrictions  on  use  under  this  Agreement:  
 
b) shall   inform   the   Disclosing   Party   immediately   upon   becoming   aware   or  
suspecting   that   Confidential   Information   has   been   disclosed   to   an  
unauthorised  person;  and  
 
c) agrees  to  indemnify  and  hold  harmless  the  Disclosing  Party  from  any  liability,  
loss   or   damage   arising   out   of   the   violation   of   any   of   the   terms   of   this  
Agreement  by  the  Receiving  Party,  its  Affiliates  or  to  their  Representatives,  or  
any   Person   with   whom   or   which   the   Receiving   Party   shares   Confidential  
Information.  
 
7.3   Receiving   Party   acknowledges   and   agrees   that   any   disclosure   or   use   of  
Confidential  Information  it  receives  from  Disclosing  Party  where  such  disclosure  or  
use  does  not  fully  comply  with  the  terms  of  this  Agreement  may  cause  irreparable  
harm  to  the  Disclosing  Party  or  its  Affiliates  and  that  compensatory  money  damages  
may  be  inadequate  to  prevent  injury  to  Disclosing  Party  or  its  Affiliates.  Accordingly,  
the  Parties  agree  that:  
 
a) Disclosing   Party   may   apply   at   any   time   to   any   court   having   jurisdiction   for  
interim   or   conservatory   relief   and   protection   against   actual   or   threatened  
disclosure   or   use   of   such   Confidential   Information   in   breach   of   this  
Agreement,   including   the   remedies   of   injunction,   specific   performance,   and  
such  other  equitable  remedies  as  may  be  within  the  court's  powers  and  the  
Parties   agree   that   no   proof   of   irreparable   injury   or   other   damages   shall   be  
required   as   a   pre   condition   to   the   court   granting   such   interim   or  
conservatory  relief  and  protection;  
 
b) neither  the  remedies  provided  for  in  this  Article,  nor  any  action  commenced  
under  this  Article  shall  preclude  any  other  remedies  or  relief  at  law  or  equity  
available  to  a  Party  for  breach  of  this  Agreement.  
 
 
8.  RETURN  OF  CONFIDENTIAL  INFORMATION  
 
 
8.1  The  Confidential  Information  shall  remain  the  property  of  the  Disclosing  Party,  
its   Affiliates,   or   others   as   applicable.   Neither   the   Receiving   Party   nor   any   Person  
with   whom   it   shares   Confidential   Information   pursuant   to   this   Agreement   shall  
acquire   any   right,   title,   or   interest   in   Confidential   Information   and   no   actions  
pursuant   to   this   Agreement   shall   be   construed   as   conferring   one   Party,   by  
implication  or  otherwise,  any  licence  under  any  patent,  copyright,  or  future  patent  
owned  by  any  other  Party  or  its  Affiliates.  
 
8.2  The  Disclosing  Party  may  demand  the  return  of  all  or  any  designated  portion  of  
the  Confidential  Information  it  has  disclosed  to  the  Receiving  Party  at  any  time  upon  
giving   notice   to   the   Receiving   Party   As   soon   as   practicable   after   receipt   of   such  
notice,  the  Receiving  Party  shall  
 
a) return  all  of  the  original  Confidential  Information;  
 
b) destroy  any  materials  in  its  or  its  Affiliates'  possession  prepared  or  created  
directly   or   indirectly   by   Receiving   Party   (including   copies,   reproduction  
extracts,  summaries,  notes,  analyses,  records  or  memoranda)  containing  such  
Confidential  Information  except  as  required  to  be  retained  under  applicable  
law  or  except  as  may  be  summarised  in  material  presented  to  its  or  any  of  its  
Affiliates'   executive   board   (or   the   equivalent   thereof),   in   which   case   the  
Receiving   Party   shall   advise   the   Disclosing   Party   and   ensure   that   the  
obligations  of  confidentiality  as  are  contained  within  this  Agreement  remain  
adhered   to   by   such   Receiving   Party   and   its   Affiliates   as   provided   in   Article  
12;  
 
c) erase  all  such  Confidential  Information  received  from  Disclosing  Party  from  
Receiving   Party's   and   Receiving   Party's   Affiliates'   computers,   word  
processors  or  other  devices  Conta  nag  such  Confidential  Information,  except  
that   any   such   Confidential   Information   retained   in   Receiving   Party's   or  
Receiving  Party's  Affiliates'  computer  back  up  systems  may  be  destroyed  in  
accordance   with   Receiving   Party's   or   receiving   Party's   Affiliates,   as  
applicable,   regular   ongoing   records   retention   process,   provided   that   the  
Receiving  Party  or  Affiliate  or  any  person  to  whom  Confidential  Information  
is  disclosed  under  the  terms  of  this  Agreement  agrees  not  to  access  such  data,  
and  
 
d) within   fourteen   (14)   days   of   a   request   by   the   Disclosing   Party   provide  
certification   in   writing   and   signed   by   a   director,   of   the   return   and/or  
destruction  of  all  the  copies  furnished  and  reproductions  made.  
 
 
9.REPRESENTATIONS  AND  WARRANTIES  
 
 
9.1   The   Disclosing   Party   hereby   represents   and   warrants   that   it   has   the   right   and  
authority   to   disclose   the   Confidential   Information   to   the   Receiving   Party   for   its  
Affiliates  and  its  or  their  Representatives).  
 
9.2   The   Disclosing   Party,   its   Affiliates,   and   its   and   their   Representatives   however  
make   no   representations   or   warranties,   express   or   implied,   as   to   the   quality,  
accuracy  or  completeness  of  the  Confidential  Information  disclosed  hereunder,  and  
the   Receiving   Party   (on   behalf   of   itsef   and   its   Affiliates   and   its   and   their  
Representatives)   expressly   acknowledges   the   inherent   risk   of   error   in   the  
acquisition,  processing  and  interpretation  of  all  data.  
 
9.3  The  Disclosing  Party,  its  Affiliates  and  its  and  their  Representatives  shall  have  no  
liability   whatsoever   with   respect   to   the   use   of   or   reliance   upon   the   Confidential  
Information   by   the   Receiving   Party   or   oy   any   Person   with   whom   Receiving   Party  
shares   such   Confidential   Information   pursuant   to   this   Agreement   Any   use   or  
reliance  upon  the  Confidential  Information  by  the  Receiving  Party  its  Affiliates  or  by  
any   Person   with   whom   Receiving   Party   shares   such   Confidential   Information  
pursuant  to  this  Agreement  shall  be  at  their  respective  sole  risk  
 
9.4   The   Receiving   Party   hereby   waives   and   releases   on   behalf   of   itself   and   its  
Affiliates  any  and  all  claims,  liabilities,  or  causes  of  action  it  or  they  may  have  from  
time   to   time   against   the   Disclosing   Party   or   its   Affiliates   arising   from   or   related   to  
incompleteness  or  inaccuracy  of  Disclosing  Party's  Confidential  Information.  
 
 
10.  GOVERNING  LAW  AND  DISPUTE  RESOLUTION  
 
 
10.1  This  Agreement  and  any  non-­‐contractual  rights  arising  out  of  or  in  connection  
with   it   are   governed   by   and   are   to   be   construed   in   accordance   with   the   non-­‐
exclusive  laws  of  The  Republic  of  the  Philippines,  without  regard  to  any  conflict  of  
laws  principles  that  would  cause  the  laws  of  another  jurisdiction  to  apply.  
 
10.2   The   Parties   should   exert   all   reasonable   efforts   to   settle   through   negotiations  
any   disputes,   disagreements,   differences   or   claims   arising   out   of   or   in   connection  
with   this   Agreement,   or   related   to   any   breach   of   its   provisions,   including   any  
question   regarding   this   Agreement's   existence,   validity   or   termination   and   any   non-­‐
contractual  rights  or  obligations  arising  out  of  or  in  connection  with  it  (individually  
and  collectively,  a  "Dispute").  If  the  Parties  are  unable  to  resolve  a  Dispute  within  a  
period  of  one  (1)  month,  then  such  Dispute  shall  be  exclusively  and  finally  settled  by  
arbitration,  and  any  Party  may  submit  such  Dispute   to   arbitration.   Unless   otherwise  
expressly  agreed  in  writing  by  the  Parties  to  the  arbitration  proceedings  
 
a) the  arbitration  shall  be  held  in  The  Republic  of  the  Philippines,  with  one  (1)  
arbitrator;  
 
b) the   arbitration   proceedings   shall   be   conducted   in   the   English   language   and  
the  arbitrator  shall  be  fluent  in  the  English  language;  
 
c) the   arbitrator   shall   be   and   remain   at   all   times   wholly   independent   and  
impartial;  
 
d) the  arbitration  proceedings  shall  be  conducted  in  accordance  with  the  Rules  
of  Arbitration  of  the  Philippines  Chamber  of  Commerce,  in  effect  on  the  date  
hereof,   which   Rules   are   deemed   to   be   incorporated   by   reference   into   this  
clause,  and  
 
e) any   procedural   issues   not   determined   under   the   arbitral   rules   selected  
pursuant   to   this   Agreement   shall   be   determined   by   the   law   of   the   place   of  
arbitration   other   than   those   laws   which   would   refer   the   matter   to   another  
jurisdiction.  
 
11.  TERM  
 
 
11.1  Unless  otherwise  agreed  this  Agreement  shall  commence  on  the  Effective  Date  
and  terminate  after  two  years  from  the  date  of  this  Agreement.  
 
 
12.  LIMITATION  OF  LIABILITY  
 
 
12.1  Notwithstanding  anything  to  the  contrary  in  this  Agreement,  neither  Party  shall  
be  liable  to  the  other  for:  
 
a) any  exemplary,  punitive,  special  or  indirect  damages  
 
b) any  consequential  damages  that  do  not  flow  directly  from  the  relevant  event  
to  the  damages  allegedly  arising  from  such  event  or  with  respect  to  which  no  
direct  causal  connection  exists  between  the  relevant  event  and  the  damages  
allegedly  arising  from  such  event;  or  
 
 
c) loss   of   anticipated   profits,   loss   of   revenues   damages   to   reputation   and  
goodwill  and  los>  ol  e  ce  utu  business.  
 
12.2.  Nothing  in  this  Agreement  operates  to  limit  or  exclude  any  liability  for  fraud  or  
to  release,  exclude  or  limit  the  liability  of  any  party  to  the  extensuel  sono  limitation  
is  not  permitted  by  applicable  law  
 
 
13.  NO  IMPLIED  AGREEMENT  OR  RELATIONSHIP  
 
 
13.1  Except  for  the  rights  and  obligations  set  forth  expressly  in  this  Agreement  no  
Party   or   its   respective   Affiliates   shall   have   any   obligation   or   liability   t0   any   other  
Party   or   its   respective   Affiliates   with   respect   to   Confidential   Information,   the  
Purpose  an  Opportunity,  or  any  other  potential  joint  opportunity.  
 
13.2  Nothing  in  the  Agreement  shall  create,  or  be  deemed  to  create,  a  partnership,  
joint   venture   or   legal   relationship   of   any   kind   between   the   Parties   that   would  
impose   liability   upon   one   Party   for   the   acts   or   failure   to   act   of   the   other   Party,   or  
authorize  either  Party  to  act  as  agent  for  the  other.  Save  where  expressly  stated  in  
the  Agreement  neither  Party  shall  have  the  authority  to  make  representations  act  in  
the  name  or  on  behalf  of  or  otherwise  bind  the  other  
 
13.3  Nothing  contained  in  this  Agreement  and  no  actions  or  failure  to  act  pursuant  
to  this  Agreement  (including  discussions,  negotiations,  or  memoranda  arising  from  
or   related   to   this   Agreement),   shall   (i)   confer   any   rights   or   obligations   upon   any  
Party   or   any   Person   with   respect   to   an   Opportunity   or   any   other   potential   joint  
opportunity,   or   (ii)   require   or   be   construed   to   require   any   Party   or   any   Person   to   a)  
enter   into   any   other   agreements   respecting   the   Purpose,   an   Opportunity   or   any  
other   potential   joint   opportunity,   b)   negotiate,   or   to   negotiate   in   good   faith,   or   c)  
enter  into  any  business  relationship  or  dealings.  
 
13.4   There   shall   be   no   rights   or   obligations,   other   than   as   set   out   herein,   between  
the   Parties   or   their   respective   Affiliates   regarding   the   Purpose,   an   Opportunity   or  
any   other   potential   joint   opportunity   unless   and   until   a   detailed   written   contract  
with  respect  thereto  is  executed  by  duly-­‐authorised  Representatives  of  the  relevant  
Parties   or   their   respective   Affiliates,   as   applicable.   No   Party,   nor   its   respective  
Affiliates,  shall  have  any  liability  to  any  other  Party  or  any  Person  in  the  event  that,  
for  any  reason  whatsoever,  no  such  detailed  written  contract  is  executed.  
 
 
 
14.  PUBLIC  STATEMENTS  
 
 
14.1   No   Party,   nor   its   Affiliates,   unless   acting   in   compliance   with   prior   written  
approval  of  the  other  Party  and  the  Protected  Client  or  unless  otherwise  permitted  
pursuant  to  this  Agreement  shall  make,  or  permit  or  procure  to  be  made,  or  solicit  
or   assist   any   Person   to   make,   any   statement   to   a   third   party,   the   public,   or   media  
regarding   the   occurrence   or   the   substance   of   any   communications,   discussions,   or  
negotiations  between  the  Parties.  Neither  Party  shall  use  or  permit  use  of  the  name  
of  the  other  Party  or  any  of  its  Affiliates  in  any  publication,  advertisement,  or  other  
disclosure  concerning  the  subject  matter  of  this  Agreement  
 
15.  NOTICES  
 
15.1  All  notices  and  other  communications  required  under  this  Agreement  shall  be  
in  writing,  in  the  English  language  and  may  be  delivered  by  hand  or  sent  by  pre-­‐paid  
post   (by   airmail   post   if   to   an   address   outside   the   country   of   posting)   or   electronic  
mail  to  the  relevant  Party  at  the  address  set  forth  below:  
 
a) if  to:  
 
__________________________     __________________________  
 
__________________________     __________________________  
 
__________________________     __________________________  
 
__________________________     __________________________  
 
 
15.2   Each   Party   shall   have   the   right   to   change   the   place   to   which   notices   shall   be  
sent   or   delivered   by   sending   a   similar   notice   to   the   other   Party   in   like   manner  
informing  of  such  change.  
 
15.3  Any  notice  or  document  shall  be  deemed  served  
 
a) if   delivered   by   hand,   at   the   time   of   delivery   unless   delivered   after   5.00   pm   in  
which  case  they  shall  be  deemed  served  on  the  next  Business  Day,  
 
 
b) if  posted,  five  (5)  Business  Days  after  posting,  and  
 
c) if   sent   by   fax   at   the   time   of   transmission   printed   on   the   transmission  
confirmation  sheet  provided  that  an  error  free  transmission  report  has  been  
received  by  the  sender  and  if  the  time  of  transmission  is  after  5:00  pm  on  a  
Business   Day   or   at   any   time   on   a   day   that   is   not   a   Business   Day   the   notice  
shall  be  deemed  to  have  been  received  at  9:00  am  on  the  next  Business  Day.  
 
15.4  Notices  under  the  Agreement  shall  not  be  valid  if  sent  by  electronic  mail.  
 
16.  MISCELLANEOUS  
 
 
16.1   No   amendments,   changes   or   modification   to   this   Agreement   shall   be   valid  
except  if  the  same  are  in  writing  and  signed  by  a  duly  authorised  representative  of  
each  of  the  Parties,  including  the  Protected  Client,  as  needed.  
  
16.2  This  Agreement  comprises  the  full  and  complete  agreement  among  the  Parties  
with   respect   to   the   disclosure   of   the   Confidential   Information   and   supersedes   and  
cancels   all   prior   communications,   understandings   and   agreements   between   the  
Parties,  whether  written  or  oral,  express  or  implied  
 
16.3  A  Party  may  not  assign  this  Agreement  nor  any  rights  or  obligations  hereunder  
to  any  Person,  except  to  an  Affiliate,  without  the  prior  written  consent  of  the  other  
Party,   and   the   Protected   Client.   In   the   event   a   Party   assigns   all   or   any   part   of   its  
rights  and  obligations  hereunder,  including  assignment  to  an  Affiliate,  the  assigning  
Party   shall   remain   jointly   and   severally   liable   with   the   assignee   for   compliance   with  
all   terms   and   conditions   of   this   Agreement.   Without   limiting   the   foregoing,   this  
Agreement   shall   bind   and   inure   to   the   benefit   of   the   Parties   and   their   respective  
successors  and  assigns.  
 
16.4   This   Agreement   may   be   executed   in   counterparts,   each   of   which   shall   be  
deemed   as   original   and   all   of   which   together   shall   constitute   one   and   the   same  
instrument.  
 
16.5  No  failure  or  delay  in  exercising,  or  any  single  or  partial  exercise,  of  any  right,  
power  or  privilege  under  this  Agreement  shall  operate  as  a  waiver  or  preclude  any  
further  exercise  of  any  right,  power  or  privilege  under  this  Agreement  or  otherwise.  
 
16.6   Each   Party   shall   bear   sole   responsibility   for   any   costs   or   expenses   it   or   its  
Affiliates  incur  in  connection  with  preparation  and  performance  of  this  Agreement,  
including  activities  undertaken  to  evaluate  any  Opportunity.  
 
16.7  If  any  provision  of  this  Agreement  (or  part  thereof)  is  or  becomes  unlawful  or  
void,  the  legality,  validity,  and  enforceability  of  any  other  part  that  provision  or  any  
other   provision   of   this   Agreement   shall   not   be   affected,   but   shall   continue   in   full  
force   and   effect.   The   unlawful   or   void   provision   shall   be   deleted   from   this  
Agreement  by  written  agreement  of  the  Parties  or  final  court  order,  but  only  to  the  
extent  of  any  invalidity  so  as  to  preserve  the  Agreement  to  the  maximum  extent.  
 
 
IN   WITNESS   THEREOF,   the   duly   authorized   representatives   of   the   Parties   have  
caused  this  Agreement  to  be  executed  and  delivered  on  the  date  first  written  above.  
 
 
By:             By:  
 
 
________________________________       ________________________________  
 
 
________________________________       ________________________________  
 
 
________________________________       ________________________________