Subscription Type - Array

Non-Disclosure Agreement (NDA)

This Mutual Non-disclosure Agreement (the "Agreement") is made and entered into as of 12/18/2017 between DeenTek Solutions an Illinois limited liability company and (), a corporation/limited Liability Company.
IN CONSIDERATION OF THE MUTUAL PROMISES AND COVENANTS CONTAINED IN THIS AGREEMENT AND THE MUTUAL DISCLOSURE OF CONFIDENTIAL INFORMATION, THE PARTIES HERETO AGREE AS FOLLOWS:
  1. Purpose: The parties wish to explore a business opportunity of mutual interest and in connection with this opportunity, each party may disclose to the other certain confidential information which the disclosing party desires the receiving party to treat as confidential.
  2. Confidential Information: means any nonpublic information disclosed by either party (the "Disclosing Party") to the other party ("Receiving Party"), either directly or indirectly, in writing, orally or by inspection of tangible objects (including without limitation documents, prototypes, user data), and designates such information as being confidential or which, under the circumstances surrounding disclosure ought to be treated as confidential by the Receiving Party. Confidential Information includes, without limitation, information in tangible or intangible form relating to and/or including released or unreleased Disclosing Party services or products, the marketing or promotion of any Disclosing Party service or product, Disclosing Party's business policies or practices, and information received from others that Disclosing Party is obligated to treat as confidential. Information communicated orally shall be considered Confidential Information if such information is confirmed in writing as being Confidential Information within a reasonable time after the initial disclosure.
     
    Confidential Information shall not, however, include any information which (i) was publicly known and made generally available in the public domain prior to the time of disclosure by the Disclosing Party; (ii) becomes publicly known and made generally available after disclosure by the Disclosing Party to the receiving party through no action or inaction of 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 Receiving Party’s files and records immediately prior to the time of disclosure; (iv) is obtained by the Receiving Party from a third party without a breach of such third party’s obligations of confidentiality; (v) is independently developed or acquired by the Receiving Party without use of or reference to the Disclosing Party’s Confidential Information, as shown by documents and other competent evidence in the Receiving Party’s possession; or (vi) is required by law to be disclosed by the Receiving Party, provided that the Receiving Party gives the Disclosing Party prompt written notice of such requirement prior to such disclosure and assistance in obtaining an order protecting the information from public disclosure.
  3. Non-use and Non-disclosure: Each party agrees not to use any Confidential Information of the other party for any purpose except to evaluate and engage in discussions concerning a potential business relationship between the parties. Each party agrees not to disclose any Confidential Information of the other party to third parties or to such party’s employees and consultants, except to those employees and consultants of the receiving party who are required to have the information in order to evaluate or engage in discussions concerning the contemplated business relationship. Neither party shall reverse engineer, disassemble or decompile any prototypes, software or other tangible objects which embody the other party’s Confidential Information and which are provided to the party hereunder. Further, except as otherwise provided herein, either party shall be free to use, for any purpose, the residuals from access to or work with such Confidential Information, provided that such party shall maintain the confidentiality of the Confidential Information as provided herein. The term "residuals" means information in non-tangible form, which may be retained in human memory by persons who have had access to the Confidential Information, including ideas, concepts, know-how or techniques contained therein. Neither party shall have any obligation to limit or restrict the assignment of such persons or to pay royalties for any work resulting from the use of residuals.
  4. Maintenance of Confidentiality: Each party agrees that it shall take reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of the Confidential Information of the other party including all the customer confidential information of (), which in this case are the Masjid members, Zakat Applicant, Zakat Recipient, Funds Donor, Masjid Financials and any other information provided to DeenTek Solutions by (), Without limiting the foregoing, each party shall take at least those measures that it takes to protect its own most highly confidential information and shall ensure that its users who have access to Confidential Information of the other party have signed a non-use and non-disclosure agreement in content similar to the provisions hereof, prior to any disclosure of Confidential Information to such user. Neither party shall be held responsible for unauthorized use and/or compromised access to confidential information due to no fault of theirs despite the reasonable security measures in place. Neither party shall make any copies of the Confidential Information of the other party unless previously approved in writing by the disclosing party.
  5. Exclusions from Confidential Information: Receiving party’s obligation under this Agreement do not extend to information listed below:
  6. No Obligation: Nothing herein shall obligate either party to proceed with any transaction between them, and each party reserves the right, in its sole discretion, to terminate the discussions contemplated by this Agreement concerning the business opportunity, if any, and to also cease further disclosures, communications or other activities under this Agreement upon written notice to the other party.
  7. No Warranty: ALL CONFIDENTIAL INFORMATION IS PROVIDED "AS IS." EACH PARTY MAKES NO WARRANTIES, EXPRESS, IMPLIED OR OTHERWISE, REGARDING ITS ACCURACY, COMPLETENESS OR PERFORMANCE.
  8. Return of Materials: All documents and other tangible objects containing or representing Confidential Information which have been disclosed by either party to the other party, and all copies thereof which are in the possession of the other party, shall be and remain the property of the disclosing party and shall be promptly returned to the disclosing party upon the disclosing party’s written request.
  9. No License: Nothing in this Agreement is intended to grant any rights to either party under any patent, mark, work right, or copyright, trade secret or other intellectual property right of the other party, nor shall this Agreement grant any party any rights in or to the Confidential Information of the other party except as expressly set forth herein.
  10. Term: This Agreement shall remain in effect for a two-month trial term (subject to a one year extension if the parties are still discussing and considering the Transaction at the end of the trial term). Notwithstanding the foregoing, the parties’ duty to hold in confidence Confidential Information that was disclosed during term shall remain in effect indefinitely.
  11. Notice of Breach: Receiving Party shall notify the Disclosing Party immediately upon discovery of any unauthorized use or disclosure of Confidential Information by Receiving Party or its Representatives, or any other breach of this Agreement by Receiving Party or its Representatives, and will cooperate with efforts by the Disclosing Party to help the Disclosing Party regain possession of Confidential Information and prevent its further unauthorized use.
  12. Miscellaneous: This Agreement shall bind and inure to the benefit of the parties hereto and their successors and assigns. This Agreement shall be governed by the laws of the State of Illinois, USA, without reference to conflict of laws principles. Except for matters for which injunctive relief is sought pending arbitration, any dispute or disagreement hereunder shall be resolved by binding, expedited, confidential arbitration before a neutral arbitrator located in Dupage County, IL, USA and the decision of the arbitrator shall be final and binding on all parties. This document contains the entire agreement between the parties with respect to the subject matter hereof, and neither party shall have any obligation, express or implied by law, with respect to the confidential or proprietary information of the other party except as set forth herein. Any failure to enforce any provision of this Agreement shall not constitute a waiver thereof or of any other provision. This Agreement may not be amended, nor any obligation waived, except by a writing signed by both parties hereto.

 

Organization Names Role Contact Person Name Signed Date
Officer  Online Application Process - Agreed 12/18/2017
DeenTek Solutions LLC Owner and CO-Founder Faisal Khwaja Online Application Process - Agreed 12/18/2017

 

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