Contrato Medina Technology
Contrato Medina Technology
CRESCOTEC L.L.C. FZ, a company incorporated under the laws of UAE, with
registration number 2202985, having its registered office at Business Center 1, M
Floor, The Meydan Hotel, Nad Al Sheba, Dubai, UAE, (herein referred to as the
"First Party" which expression shall, unless repugnant to the context in which it
is used, include its successors and administrators)
AND
WHEREAS, the Parties intend to engage in discussions and share information for
the purpose of business relationship and in this regard, each Party may disclose
certain confidential and proprietary information to the other Party.
1. DEFINITIONS:
a. It is hereby clarified that each Party may act as either the Disclosing Party or
the Receiving Party, depending on the context of the exchange of Confidential
Information. The roles of disclosing party and receiving party are determined
based on which Party is providing or receiving Confidential Information at any
given time.
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document, in writing, orally or by inspection of tangible objects (including,
without limitation, documents) that are designated as "Confidential",
"Proprietary" or some similar designation, or is of such a nature or has been
disclosed in such a manner that it should be obvious to that such is
confidential.
b. Confidential Information shall include, and not be limited to, source code,
software designs, technical specifications, algorithms, system architectures,
technical data, proprietary technology, trade secrets, business strategies,
customer data, and any other information related to the operations and
business of the Parties. Further, Confidential Information shall also include,
without limitation, the disclosing party's trade secrets, know-how and
proprietary information as well as business plans, financial data and the status
and terms of any discussions between the Parties that is known to one other
during the course of the engagement between them.
i. was publicly known and made generally available in the public domain prior to
the time of disclosure by the disclosing Party; except in its application to this
particular venture.
ii. becomes publicly known and made generally available after disclosure by the
disclosing party to the other through no action or inaction of the other
(receiving) party; and can be proven by the receiving party.
iii. is already in the possession of the receiving party at the time of disclosure by
the disclosing party as shown by the files and records immediately prior to the
time of disclosure.
iv. is obtained by a third party without breach of such third party's obligations
without use of or reference to the disclosing party's possession; or
2. OBLIGATIONS OF CONFIDENTIALITY:
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without limitation, all precautions the receiving party employs with respect to
its own confidential materials).
c. Not to make any use whatsoever at any time, such Confidential Information
except to evaluate internally its relationship with the disclosing party.
d. Not to copy any such Confidential Information. The receiving party shall
procure that its employees, agents and sub-contractors to whom Confidential
Information is disclosed or who have access to Confidential Information sign a
non-disclosure or similar agreement in content substantially similar to this
Agreement.
(ii) Without granting any right or license, the disclosing party agrees that the
foregoing shall not apply with respect to any information after five years
following the disclosure thereof of any information that the receiving party can
document:
b. Information which was in its possession or known by it, prior to receipt from
the disclosing party as evidenced in writing, except to the extent that such
information was unlawfully appropriated.
3. RETURN OF INFORMATION:
a. Immediately upon the written request by the disclosing party at any time, the
receiving party will return to the disclosing party all Confidential Information
and all documents or media containing any such Confidential Information and
any and all copies or extracts thereof, save that where such Confidential
Information is a form incapable of return or has been copied or transcribed
into another document, it shall be destroyed or erased, as appropriate.
4. NON-SOLICITATION:
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a. Non-Solicitation of Employees: During the term of this Agreement and for
a period of two [2] years following its termination, neither Party shall, directly
or indirectly, solicit, recruit, or attempt to solicit or recruit any employee,
consultant, or contractor of the other Party who was engaged in or had
substantial contact with the other Party during the term of this Agreement.
5. NO LICENSE:
c. The proceedings and award shall be in the English language and shall be final
and binding on the Parties.
7. MISCELLANEOUS:
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e. Assignment: Neither Party may assign its rights or obligations under this
Agreement without the prior written consent of the other Party, except to a
successor in interest of the entire business of the assigning Party.
f. Notices: All notices under this Agreement shall be in writing and sent to the
addresses of the Parties set forth above or such other address as either Party
may specify in writing. Notices shall be deemed given when delivered
personally, sent by confirmed facsimile or email, or three days after being
sent by certified mail, return receipt requested.
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