Standstill Agreement

This Standstill Agreement is between two companies who are contemplating entering into a business arrangement regarding a certain type of technology and wish to discuss this transaction without interference from a third party who has similar interests. This agreement sets forth the arrangement including the fact that neither party will solicit nor encourage submission of proposals from other parties during the term of this agreement. It is crucial this type of business arrangement be set out in writing and not via oral agreement. A written Standstill Agreement will prove invaluable in the event of disagreements or misunderstandings between the parties. (continued ...)