CONFIDENTIALITY AGREEMENT
This Confidentiality Agreement ("Agreement") is made
and effective the ________________________ by and between Premier
Realty 2000, Inc. ("Owner") and ________________________
("Recipient").
1. Confidential Information.
Owner proposes to disclose certain of its confidential and proprietary
information (the "Confidential Information") to Recipient.
Confidential Information shall include all data, materials, products,
technology, specifications, manuals, business plans, software, marketing
plans, financial information, and other information disclosed or
submitted, orally, in writing, or by any other media, to Recipient
by Owner. Confidential Information disclosed orally shall be identified
as such within five (5) days of disclosure. Nothing herein shall
require Owner to disclose any of its information.
2. Recipient's Obligations.
A. Recipient agrees that the Confidential Information is to
be considered confidential and proprietary to Owner and Recipient
shall hold the same in confidence, shall not use the Confidential
Information other than for the purposes of its business with Owner,
and shall disclose it only to its officers, directors, or employees
with a specific need to know. Recipient will not disclose, publish
or otherwise reveal any of the Confidential Information received
from Owner to any other party whatsoever except with the specific
prior written authorization of Owner.
B. Confidential Information furnished in tangible form shall not
be duplicated by Recipient except for purposes of this Agreement.
Upon the request of Owner, Recipient shall return all Confidential
Information received in written or tangible form, including copies,
or reproductions or other media containing such Confidential Information,
within ten (10) days of such request. At Recipient's option, any
documents or other media developed by the Recipient containing Confidential
Information may be destroyed by Recipient. Recipient shall provide
a written certificate to Owner regarding destruction within ten
(10) days thereafter.
3. Term.
The obligations of Recipient herein shall be effective in
perpetuity from the date Owner last discloses any Confidential Information
to Recipient pursuant to this Agreement. Further, the obligation
not to disclose shall not be affected by bankruptcy, receivership,
assignment, attachment or seizure procedures, whether initiated
by or against Recipient, nor by the rejection of any agreement between
Owner and Recipient, by a trustee of Recipient in bankruptcy, or
by the Recipient as a debtor-in-possession or the equivalent of
any of the foregoing under local law.
4. Other Information.
Recipient shall have no obligation under this Agreement with
respect to Confidential Information which is or becomes publicly
available without breach of this Agreement by Recipient; is rightfully
received by Recipient without obligations of confidentiality; or
is developed by Recipient without breach of this Agreement; provided,
however, such Confidential Information shall not be disclosed until
thirty (30) days after written notice of intent to disclose is given
to Owner along with the asserted grounds for disclosure.
5. No License.
Nothing contained herein shall be construed as granting
or conferring any rights by license or otherwise in any Confidential
Information. It is understood and agreed that neither party solicits
any change in the organization, business practice, service or products
of the other party, and that the disclosure of Confidential Information
shall not be construed as evidencing any intent by a party to purchase
any products or services of the other party nor as an encouragement
to expend funds in development or research efforts. Confidential
Information may pertain to prospective or unannounced products.
Recipient agrees not to use any Confidential Information as a basis
upon which to develop or have a third party develop a competing
or similar product.
6. No Publicity.
Recipient agrees not to disclose its participation in this undertaking,
the existence or terms and conditions of the Agreement, or the fact
that discussions are being held with Owner.
7. Governing Law and Equitable Relief.
This Agreement shall be governed and construed in accordance
with the laws of the United States and the State of Hawaii and Recipient
consents to the exclusive jurisdiction of the state courts and U.S.
federal courts located there for any dispute arising out of this
Agreement. Recipient agrees that in the event of any breach or threatened
breach by Recipient, Owner may obtain, in addition to any other
legal remedies which may be available, such equitable relief as
may be necessary to protect Owner against any such breach or threatened
breach.
8. Final Agreement.
This Agreement terminates and supersedes all prior understandings
or agreements on the subject matter hereof This Agreement may be
modified only by a further writing that is duly executed by both
parties.
9. No Assignment.
Recipient may not assign this Agreement or any interest herein without
Owner's express prior written consent.
10. Severability.
If any term of this Agreement is held by a court of competent jurisdiction
to be invalid or unenforceable, then this Agreement, including all
of the remaining terms, will remain in full force and effect as
if such invalid or unenforceable term had never been included.
11. Notices.
Any notice required by this Agreement or given in connection
with it, shall be in writing and shall be given to the appropriate
party by personal delivery or by certified mail, postage prepaid,
or recognized overnight delivery services.
If to Owner:
Premier Realty 2000, Inc.
Attn: Commercial Division
1750 South King Street Suite 200
Honolulu, Hawaii 96826
If to Recipient: