NON DISCLOSURE NON CIRCUMVENT
By submitting online Password Request form an Agreement is entered into between www.investdirectoil.com, referred to as “Provider”, and Accredited Investor/ Inquirer from the website www.investdirectoil.com, its partners, clients and associates, referred to as “Recipient”.
Provider and Recipient have entered into discussions and agreements which may involve an exchange of certain proprietary and confidential, technical or business information related to the RECIPIENT from the PROVIDER project/company, in the properties, projects or subject matter on the website www.investdirectoil.com that is not otherwise available. Recipient acknowledges that it will receive certain operating/technical information which Provider deems proprietary and confidential, including, but not limited to business concepts and strategies or methods, descriptions, plans, drawings, blueprints, maps, reproductions, technical data, tables, calculations, letters, documents and know-how of Provider hereinafter collectively referred to as PROPRIETARY INFORMATION. This information may also include, but is not limited to trade secrets, contracts, log reports, Seismic Data, geological and geophysical reports, financial information, strategic associates or any other information which Recipient considers to be PROPRIETARY INFORMATION to Provider.
Recipient shall not, without the express written consent of Provider, publish, disclose or divulge to any person, firm, corporation, directly or indirectly, or use for its own benefit, or of any person, firm or corporation, other than Provider, any PROPRIETARY INFORMATION.
Recipient shall disclose the PROPRIETARY INFORMATION only to those employees, agents, affiliates, industry participants and investors who have a need to receive said information and Recipient acknowledges that all such individuals and/or corporations shall be bound by similar non-disclosure agreements with Recipient.
Recipient shall not copy or reproduce the PROPRIETARY INFORMATION and shall destroy all material, drawings, sketches, papers and other documents as well as copies, excerpts and summaries thereof received from Provider and which had designated as PROPRIETARY INFORMATION. These materials will be destroyed upon request by Provider.
Both Recipient and Provider hereby irrevocably agree not to circumvent, avoid, by-pass or obviate each other, directly or indirectly, in any transactions with any corporation, partnership or individual, revealed by either party to the other, in connection with any projects, or any other transaction, involving any projects, financing, joint ventures, service, renewal, extension, roll-over, amendment, renegotiation, contract, agreement or third party assignment.
Recipient hereby agrees that, for a period of no less than three years from the date of disclosure, it will hold this PROPRIETARY INFORMATION in strict confidence, and that, at a minimum, Recipient will use the same degree of care it would use with respect to its own proprietary and confidential information to protect Provider.
Recipient that fills out this form is also stating that they are an ACCREDITED or SOPHISTICATED INVESTOR.
Investing in Oil & Gas along with other business opportunity’s are only suitable for accredited investors.
In order for an individual to qualify as an accredited investor, he or she must accomplish at least one of the following:
1) earn an individual income of more than $200,000 per year, or a joint income of $300,000, in each of the last two years and expect to reasonably maintain the same level of income.
2) have a net worth exceeding $1 million, either individually or jointly with his or her spouse.
3) be a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered.
These investors are considered to be fully functional without all the restrictions of the SEC.
Recipient agrees to share their information with all similar projects/properties in the area.
Recipient agrees to avoid publication disclosure, or dissemination of information thereof to its employees or any agent not having a need to know or to any third parties, and not to use the PROPRIETARY INFORMATION to develop products or projects which perform functions that are the same or similar to those performed by Provider. If Recipient is given source data, Recipient shall not duplicate or reproduce the source data into any medium.
Notwithstanding the above, information transmitted by Provider shall not be considered PROPRIETARY INFORMATION if the Recipient can substantiate that PROPRIETARY INFORMATION:
1. is already known to the Recipient without breach of this Agreement;
2. is or becomes generally known by the public through no wrongful act of the Recipient;
3. is independently developed by Recipient provided that the same persons have not had access to the PROPRIETARY INFORMATION;
4. is approved for release by written authorization of Provider; or
5. is subsequently lawfully obtained from a third party or parties without any breach of this
Recipient further agrees that this Agreement has been entered into in the State of Texas and all disputes arising thereunder are interpreted and governed by and construed in accordance with the laws of the State of Texas.and since a breach of this Agreement may cause irreparable harm to Provider, Recipient agrees that Provider shall be entitled to seek equitable relief in addition to any other remedies which may be available to it, in order to restrain such breach.