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Non Disclosure Agreement Settlement
"I need a Non Disclosure Agreement Settlement for my technology company to resolve a breach of confidentiality by a former contractor who shared our proprietary software code with competitors, including a settlement payment of RM 500,000 and permanent deletion of all materials."
1. Parties: Identification of all parties to the settlement agreement, including full legal names and addresses
2. Background: Recitals explaining the context of the original NDA, the dispute or breach, and the intention to settle
3. Definitions: Definitions of key terms used in the agreement, including 'Confidential Information', 'Settlement Date', 'Original NDA', etc.
4. Settlement Terms: Details of the settlement including any payments, actions required, and mutual releases
5. Confidentiality Obligations: Reaffirmation or modification of existing confidentiality obligations and their duration
6. Return or Destruction of Confidential Information: Requirements and timeline for returning or destroying confidential materials
7. Release and Waiver: Mutual release of claims related to the disputed matters
8. Non-Admission of Liability: Statement that the settlement does not constitute admission of wrongdoing
9. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes
10. Entire Agreement: Integration clause stating this document represents the entire agreement regarding the settlement
11. Execution: Signature blocks and execution requirements
1. Third Party Rights: Include when the settlement affects rights of third parties or when third parties need to be explicitly excluded
2. Ongoing Business Relationship: Include when parties will continue to have business dealings after settlement
3. Public Statements: Include when there's a need to control public communications about the settlement
4. Insurance and Indemnification: Include when there are insurance claims or ongoing indemnification obligations
5. Survival of Original NDA Terms: Include when certain terms from the original NDA need to explicitly survive
6. Tax Implications: Include when settlement involves significant monetary compensation with tax consequences
1. Schedule 1 - Original NDA: Copy or reference to the original NDA that is being settled
2. Schedule 2 - Settlement Payment Details: Detailed breakdown of any settlement payments, including payment schedule if applicable
3. Schedule 3 - Confidential Information: Specific listing of confidential information covered by the settlement
4. Schedule 4 - Destruction Certificate: Template certificate confirming destruction of confidential information
5. Schedule 5 - Related Agreements: List of any related agreements affected by or referenced in the settlement
Authors
Technology
Manufacturing
Financial Services
Healthcare
Professional Services
Research & Development
Telecommunications
Energy
Biotechnology
Consumer Goods
Media & Entertainment
Legal
Compliance
Human Resources
Information Security
Risk Management
Executive Leadership
Corporate Affairs
Information Technology
Intellectual Property
Chief Executive Officer
Chief Legal Officer
Legal Counsel
Compliance Officer
Human Resources Director
Chief Information Security Officer
Chief Technology Officer
Intellectual Property Manager
Risk Management Officer
Business Development Director
Contract Manager
Corporate Secretary
Privacy Officer
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