Mutual NDA HelTech VectraCor Feb 2017
Mutual NDA HelTech VectraCor Feb 2017
Notwithstanding the foregoing, the Receiving Party The Receiving Party acknowledges that neither the
may disclose Confidential Information, provided such Disclosing Party, nor any of such Disclosing Party's
information: subsidiaries, affiliate companies, or representatives
makes any express or implied representation or
a) was legitimately in the Receiving Party's warranty as to the accuracy or completeness of the
possession or was legitimately known to the Confidential Information and that the Disclosing
Receiving Party prior to receipt from the Disclosing Party expressly disclaims any and all liability that
Party; or may be based on the Confidential Information, errors
therein, or omissions therefrom. In evaluating the
b) is or becomes public knowledge without the Business Relationship, neither Party shall rely on the
fault of the Receiving Party; or accuracy or completeness of the Confidential
Information.
c) is or becomes rightfully available to the
Receiving Party from a party that is not bound by any 5. Term; Termination; Survival
confidentiality undertaking and which is not directly
or indirectly controlled by the Disclosing Party; or This Agreement shall be effective as of the date first
written above and shall remain in full force and effect
d) is developed independently by employees, for the duration of the Business Relationship. Upon
consultants, or contractors of the Receiving Party thirty (30) days prior written notice from one Party to
without use of Confidential Information disclosed the other, this Agreement may be terminated solely
hereunder; or with respect to then undisclosed Confidential
Information. The Parties' respective rights and
e) is required to be disclosed by an order of a obligations hereunder shall survive termination and
court or government agency or in connection with a remain in full force and effect with respect to each
litigation or adjudication by oral questions, portion of Confidential Information disclosed prior to
interrogatories, requests for information, or termination for a period of five (5) years after
documents, subpoena, civil investigative demand, or termination.
similar process; provided that in such case the
Receiving Party will provide the Disclosing Party 6. Proprietary Rights
with prompt notice of such request(s) and the
documents requested thereby so that the Disclosing The Parties explicitly acknowledge that nothing
Party may seek an appropriate protective order and/or contained in this Agreement shall be construed as
waive the Receiving Party’s compliance with the giving to any of the Parties any license or other right
provisions of this Agreement; and provided further to use or otherwise exploit in any manner whatsoever
that if, in the absence of a protective order or the any proprietary rights of the other Party, including but
receipt of a waiver hereunder, the Receiving Party is not limited to any copyrights, patents, trademarks,
nonetheless, in the written opinion of its counsel (who and servicemarks.
shall not be an employee of the Receiving Party),
compelled to disclose information concerning the [HELTECH] agrees that all rights, title, and interest
Disclosing Party to any tribunal or else stand liable in the results and product of any services performed
for contempt or suffer other censure or penalty, the by the Company including, without limitation, all
Receiving Party may disclose such information to software, graphics, documentation, designs,
such tribunal without liability hereunder; provided, programming, algorithms, and prototypes that the
however, that the Receiving Party shall give the Company creates, develops, and/or designs during the
Disclosing Party written notice of the information to course of the Business Relationship (“Work
2
Product”) shall be retained by the Company and IN WITNESS WHEREOF, [HELTECH] and the
shall not be work-made-for-hire. In the event any of Company have caused this MUTUAL
the Work Product is work-made-for-hire, NONDISCLOSURE AND CONFIDENTIALITY
[HELTECH] hereby assigns to the Company AGREEMENT to be executed as of the date first
exclusively all of [HELTECH]’s right, title, and written above:
interest in and to such Work Product and all
proprietary rights relating thereto, including, but not
limited to, all patent rights, trade secret rights, and Salamat Fanavaran Apadan- HelTech:
copyrights, without further payment to the Company
and [HELTECH] shall have no further rights to such
Work Product. [HELTECH] agrees to execute all
documents and to take all steps as are reasonable
required to effect the assignment of these interests to Authorized Signature
the Company and/or to perfect or protect any of these
rights.
Name: Iman Azarbayejani, CEO
Notwithstanding the foregoing provision, neither Phone #: +98-(313)-234-7001
Party shall prevent, or seek to prevent, the other Party Date: _______________________
from continuing to use its own proprietary rights in
the manner in which they were used prior to the date
of this Agreement.
9. Entire Agreement