Liquidated Damages for Breach of the Confidentiality Obligation. If a party violates its confidentiality obligations under this Dispute Resolution policy, the non-breaching party shall incur significant damages to its reputation and goodwill that shall not be readily calculable. Therefore, if a party, its attorneys, agents, or a proxy of a party breaches the confidentiality provisions of this Dispute Resolution policy, the following shall apply: • The non-breaching party shall be entitled to liquidated damages in the amount of $10,000.00 United States Dollars or local currency equivalent per violation, or $25,000.00 United States Dollars or local currency equivalent per violation if the disclosure is published on the internet, including but not limited to disclosure on any website or on any social media forum. Every disclosure of each claim, allegation, pleading, or other prohibited disclosure shall constitute a separate violation. Notwithstanding this confidentiality and liquidated damage provision, nothing herein shall limit the right or ability of a party to disclose evidence, claims, or allegations relating to the dispute to any individual who is, or who may be, a bona fide witness to the dispute. The parties agree that this liquidated damage amount is reasonable and waive all claims and defenses that it constitutes a penalty; AND • Breach of the confidentiality provision by disseminating or publishing information described in the preceding paragraph above through any form of mass media (including but not limited to posting on the Internet or on any social media platform) by a party, a party’s agent, or a party’s proxy shall constitute an act of wanton and gross bad faith, and shall constitute a waiver of the beaching party’s right to pursue the claim(s) and/or defense(s) against the non-breaching party, and shall entitle the non-breaching party to a default judgment against the breaching party.
Appears in 8 contracts
Samples: Policies and Procedures, Policies and Procedures, Policies and Procedures
