| TERMS & CONDITIONS FOR SUBMISSION
OF BUSINESS PLANS TO GALAXY VENTURES LLC Print,
date & sign this letter and provide a signed original to Galaxy Ventures LLC
along with your business plan, etc. Submissions will not be reviewed or
considered without this signed letter, or which violate these terms.
Galaxy Ventures LLC
c/o P.O. Box 491
Belmont, CA 94002 |
Date:
______________ ____, _______ ("Agreement Date") |
Dear Galaxy Ventures LLC:
I, the undersigned, on behalf my stated business entity & myself
(herein "Me," "My," "Mine" or "I") acknowledge
that the business plan(s), product idea(s) or other material(s) or related documents, data
or other information whatsoever (herein "Material") that I have or may submit to
Galaxy Ventures LLC (herein "You" or "Your"), was created and
produced by Me without any suggestion or request from You to write, create or submit the
Material. I, therefore agree to the following terms of this Agreement, effective as of
Agreement Date:
- I represent that: (a) I am the author of the Material and that the Material is original
with Me, and (b) I have the exclusive worldwide rights to the submit the Material to You
on the terms and conditions set forth in this agreement, and (c) I have the power and the
authority to enter into this agreement or any mutually-agreeable business relationship
with You, which may concern commerce, funding, licensing, acquisitions, joint-ventures or
otherwise.
- I understand that You are in a business in which You may learn of or receive information
or material about many types of businesses, some of which may be similar, or even
identical, to Mine. I agree that no documents or information I provide to You will be
considered confidential, proprietary or trade secret. While You generally make it a
practice not to discuss or use Material submitted to You with third parties (except for
investment consideration purposes), I agree You have no restrictions not to do so.
Additionally, information shall not be considered confidential proprietary or trade secret
that: (i) is or becomes within the public domain though no act of the receiving party;
(ii) was lawfully in the possession of the receiving party without any restriction on use
or disclosure prior to its disclosure hereunder; (iii) is lawfully received from another
source subsequent to the date of this agreement without any restriction on use or
disclosure; (iv) is lawfully deemed in writing by the disclosing party no longer to be
Confidential Information; or (v) is required to be disclosed by order of any court of
competent jurisdiction or other governmental authority.
- I irrevocably covenant and warrant to release, hold harmless, indemnify, quit and
forever discharge You from any loss, liability or expense, including attorney and court
costs, and for the full cost and payment of Your defense, from any claim, judgment, lien
or otherwise concerning My Materials, products, services, intellectual property or
related, disclosed to You by Me or by any third party, or any products, services,
intellectual property or related alleged to be similar or confusingly similar to My
Materials, products, services, intellectual property or related, and against any claims of
intellectual property infringement, trade secret theft or unfair competition brought by Me
or a third party concerning this agreement or my Materials, products, services,
intellectual property or related. It is understood and agreed that the provisions of Civil
Code §1542 of the State of California are hereby expressly waived by Me, which reads:
"A general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if known by him
must have materially affect his settlement with the debtor."
- I agree that I shall not directly or indirectly circumvent You in any way by forming a
business relationship with, by receiving investments, loans, products, services or other
value or consideration whatsoever from, by providing investments, loans, products,
services or other value or consideration whatsoever to, or by utilizing any person or
entity to whom I was introduced by You or that is affiliated or associated with You. I
hereby consent that You shall have equitable relief to prevent me from doing so, and to
enforce the other terms and conditions of this agreement.
- I understand and agree that Your use or disclosure of Material or any information
containing plans, strategies, products, features, functionality, ideas or other elements
or characteristics whatsoever that are similar or identical with those contained in
Material, or any breach of this Agreement, unfair competition, or otherwise, shall not
entitle Me to any compensation if you determine that you have an independent legal right
to use or disclose such other Material, either because such features and elements were not
new or novel or were not originated by Me, were independently conceived, or because other
persons or entities (including Your employees or affiliates) may have received or created,
or may hereafter receive or create, material containing similar or identical features,
functionality, ideas or other elements or characteristics whatsoever.
- The initial term of this agreement shall be for seven (7) years. Thereafter, You may
extend this agreement for successive terms. You may terminate this agreement at any time
at Your sole and exclusive discretion. My indemnification of You shall survive termination
of this Agreement.
- I understand that You are under no obligation to form a business relationship with me at
any time, nor is this Agreement a commitment or promise of any kind that You will invest
in or form a business relationship with Me. Any Material provided to You by Me may be kept
on file by You indefinitely, whether a business relationship is ever for between You and
Me.
- Should any provisions of this agreement be found unenforceable, the remainder shall
still be in effect. This agreement shall benefit and be binding upon the respective
successors and assigns of You and Me. Both You and I have had the opportunity to review
this agreement by our respective legal counsel, and You and I understand all of the terms
and conditions herein. This agreement supersedes any prior oral or written releases or
hold harmless agreement between You and I.
- I agree that, should I bring any actions against You for wrongful appropriation, use or
disclosure of Material or otherwise, such action shall be limited to an action at law for
damages and in no event shall I be entitled to an injunction or other equitable relief. I
agree that any such action under this agreement shall be brought with the American
Arbitration Association ("AAA") branch nearest to San Mateo County, California.
If I am unsuccessful in such action, I agree to pay You all the costs and expenses
involved in defending such action, including all attorney, court and AAA fees. This
Agreement shall be subject to the laws of the State of California, and I agree that the
sole place of making and performance of this Agreement shall be Belmont, California,
whether or not I actually signed this Agreement there. If I faxed this executed Agreement
to You, I agree to provide an original within three (3) business days, and agree to be
bound thereby.
- I agree to the terms and conditions of this agreement, which I have executed prior to
submitting or disclosing any information or documents to You or any affiliated persons,
entities or or designees anywhere in the world. I agree that this agreement shall be
binding on all of My officers, directors, shareholders, employees, parents, subsidiaries
and affiliated persons and entities of Me anywhere in the world.
ACCEPTED & AGREED BY:
Signature:______________________________
Name:_________________________________
Title:__________________________________
Entity:_________________________________
Type of Entity (i.e., Corporation):____________
State of Organization:____________________ |
Address:_______________________________
City:________________ State: ____ Zip:______ Phone:_________________________________
FAX:___________________________________
E-Mail:__________________________________
Web:___________________________________ |
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