MUTUAL NON-DISCLOSURE & NON-CIRCUMVENTION AGREEMENT (NDNCA)
This Mutual Non-Disclosure and Non-Circumvention Agreement (the “Agreement”) is entered into by and between Precision Exploration Company (PEC), including its affiliates, related entities, projects, and proprietary technologies, and:
CONFIDENTIALITY & NON-DISCLOSURE
Each party may disclose confidential or proprietary information (“Confidential Information”). Recipient agrees not to disclose or use Confidential Information except as necessary for evaluating the proposed business relationship. Disclosure to employees or contractors is permitted only if they are bound by confidentiality agreements.
NON-CIRCUMVENTION
Recipient agrees not to bypass, compete with, or directly or indirectly contact landowners or mineral rights holders introduced by Discloser, within a 10-mile radius of disclosed targets, without Discloser’s written consent.
EXCEPTIONS
This Agreement does not apply to information that is publicly known, already in Recipient's possession, lawfully obtained from a third party, or independently developed without reference to Discloser’s Confidential Information.
TERM & RETURN OF INFORMATION
This Agreement remains in effect for five (5) years from the Effective Date or as long as the Confidential Information remains proprietary. Upon request, Recipient will return or destroy all Confidential Information.
REMEDIES & INJUNCTIVE RELIEF
Recipient agrees that breach of this Agreement will cause irreparable harm. Discloser is entitled to injunctive relief and liquidated damages of $250,000 per breach, plus actual damages and legal fees.
DISPUTE RESOLUTION
Disputes shall be resolved by arbitration under AAA rules in Las Vegas, Nevada. The prevailing party will recover all legal fees and costs. Injunctive relief may be sought in court prior to arbitration.
GENERAL
This Agreement is governed by Nevada law. It constitutes the full understanding between the parties. No assignment is allowed without written consent. Electronic copies are valid as originals.
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