Investment
letter
In connection with your consideration of a possible investment
("Investment") in The Nutty Bavarian ("Bavarian"), you have
requested certain information which is non-public, confidential, or proprietary
in nature. In connection therewith, Bavarian or other acting on its behalf may
furnish to you, either orally, in writing, or by inspection, certain
information, materials and documents regarding Bavarian and its business assets,
financial condition, operations and prospects, including certain product,
services, financial, marketing, trade secret, technical, organizational, and
other information relating to Bavarian's rights in its trade names, trademarks,
service marks, copyrighted materials, designs and other intellectual property
(collectively "Proprietary Information"). As a condition to the to the
furnishings to you of Proprietary Information, you hereby agree with Bavarian as
follows:
1. All Proprietary Information heretofore or hereto after
furnished to you by Bavarian, or on it's behalf, shall be deemed confidential
and shall be kept in strict confidence upon appropriate safeguards. The term
"Proprietary Information" as used herein does not include any
information which (i) as shown by written records was lawfully in your
possession prior to any disclosure by a confidentiality agreement with or for
the agreement with or for the benefit of Bavarian in respect thereof, or (ii) is
generally available to the public other than as a result of disclosure by you,
your employees, your representatives, or others acting on your behalf.
2.
Without Bavarian's prior written consent, you will not, directly or indirectly:
(i) disclosed or reveal any Proprietary Information to any persons, firms, or
entities except to a limited group of your directors, officers, employees,
attorney's or professional advisors who are actively and directly participating
in the evaluation of the Investment (collectively, your
"Representatives"), each of whom shall be informed by you of the
confidential nature of the Proprietary Information and provided with a copy of
this letter and each of whom shall have agreed to be bound by this letter
agreement; (ii) use the Proprietary Information in any way detrimental to
Bavarian or for any purpose other than in connection with the Investment
(including using or seeking any governmental registration or recordation of any
rights in any of the trademarks, trade names, or service marks of Bavarian or
any of its subsidiaries in the absence of a definitive written agreement);
(iii) except as may be required by law or judicial process, disclose to any
person or entity either the fact that discussions or negotiations are taking
place concerning the investment (including the existence and status thereof) or
that Proprietary Information has been requested or made available to you; or
(iv) take any action requiring disclosure of any of the Proprietary Information.
3. In the event that you do not proceed with the Investment or upon
written notice from Bavarian, you will deliver promptly to Bavarian, as
indicated in the notice, all written or tangible material containing or
reflecting any information contained in the Proprietary Information (whether
prepared by us or otherwise), without retaining any copies, summaries,
analyses or extracts thereof, and all documents, memoranda, notes and other
writing whatsoever prepared by you or your advisors based on the information
contained in the Proprietary Information shall promptly be destroyed by an
authorized officer supervising such destruction.
4. Except as may be specifically provided hereafter in a definitive,
written agreement providing for the Investment ("Transaction
Agreement"), Bavarian shall not be deemed to make or have made any
representation or warranty, express or implied, as to you and Bavarian shall not
have any liability to you or any of your representatives resulting from the use
of any Proprietary Information by you and your representatives.
5. Without prejudice to any rights and remedies otherwise
available to Bavarian, it shall be entitled to equitable relief by way of
injunction if you breach any provision of this letter agreement. No failure or
delay by Bavarian in exercising any right, power, or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise thereof
preclude any other or further exercise thereof of the exercise of any other
right, power, or privilege hereunder.
6. You also understand and agree that no contract or agreement
providing for an Investment in Bavarian shall be deemed to exist between you and
Bavarian unless and until a Transaction Agreement has been executed and
delivered, and you hereby waive, in advance, any claims (including, without
limitations, breach of contract) in connection with a possible Investment in
Bavarian unless and until a Transaction Agreement between Bavarian and you has
been executed and delivered, Bavarian has no legal obligation of any kind
whatsoever with respect to such Investment except, in the case of this letter
agreement, for the matters specifically agreed to herein. For purposes of this
letter, of intent, or any other preliminary written agreement, nor does it
include an oral agreement, an executed letter of intent, or any other
preliminary written agreement, nor does it include any oral or written
acceptance of any offer or bid on your part.
7. You
understand that Bavarian reserves the right to deal or not to deal with any
persons or entities at any time, and to refuse or accept any and all offers, and
to cease discussions with any prospective investor for any reason.
8. You
hereby irrevocably and unconditionally submit to the jurisdiction and venue of
the Circuit Court for the Ninth Judicial Circuit in and for Orange County,
Florida , for purpose of any suit, action or other proceeding arising out of,
relating to or in connection with this letter agreement which is brought by or
against Bavarian. You hereby irrevocably and unconditionally waive any objection
to the laying of venue of any action, suit or proceeding arising out of,
relating to or in connection with this letter agreement which is brought by or
against Bavarian in the Circuit Court for the Ninth Judicial Circuit in and for
Orange County, Florida, and hereby further irrevocably and unconditionally waive
and agree not to plead or claim in any such court that any such action, suit or
proceeding brought in any such court has been brought in an inconvenient forum.
9.
This letter agreement shall be binding upon your successors and assigns and
shall inure to the benefit of, and be enforceable by, the successors and assigns
of Bavarian.
10.
The provisions of this letter agreement shall be severable in the event that any
of the provisions hereof are held by a court of competent jurisdiction to be
invalid, void or otherwise enforceable, and the remaining provision shall remain
enforceable to the fullest extent permitted by law.
11.
This is for the benefit of Bavarian and shall be constructed (both as to
validity and performance) and enforced in accordance with, and governed by, the
laws of the State of Florida applicable to agreements made and to be preformed
wholly within such jurisdiction.
12.
This letter agreement may be waived, amended or modified only by an instrument
in writing signed by the party against which such waiver, amendment or
modification is sought to be enforced, and such written instrument shall set
forth specifically the provisions of this letter agreement that are to be so
waived, amended or modified.
13.
This letter agreement may be executed in any number of counterparts and each of
such counterparts shall for all purposes be deemed an original, and all such
counterparts shall together constitute but one and the same instrument.
By pressing the
submit button, you indicate your agreement with the terms