Agreement
Whereas: Ultradata Systems, Inc. (hereinafter, "UDS"), desires to expand and
improve the routing capability of its line of travel-related hardware products,
but has no desire to market software as a stand-alone product, and -
Whereas: TravRoute Software (a division of ALK Associates, hereinafter "TRS"),
wishes to improve and expand the utilization of its routing software and
navigation database, but has no desire to market electronic hardware, and -
Whereas: Both UDS and TRS wish to expand their respective market shares, by
expanding distribution channels, improving their respective products, and
through the introduction of new and innovative products, and -
Whereas: Both UDS and TRS believe that by working together, expanded market
opportunities and profitability can accrue to both parties,
Now Therefore: UDS and TRS affirm that is their intent to jointly explore the
benefits of collaboration and cooperation in the following areas:
* Joint product development
* Interconnected data base(s)
* Technology exchange
* Joint and cross marketing
Agreement:
Both parties hereto agree to proceed in good faith to explore the opportunities
set forth above. UDS and TRS agree, during the period of exploration, not to
employ the services of, nor engage in active business discussions with any
individual or business entity whom the other party would consider to be a direct
competitor, and therefore, inimical to their business interests. This obligation
will end upon entering into a superseding formal business arrangement between
the parties hereto, or 30 days after wri
forth below, whichever shall occur first. Obligations to protect the
confidential and proprietary business information of each party are the subject
of a separate Confidentiality Agreement, and will survive this agreement, in
accordance with the terms of the Confidentiality Agreement.
For UDS:________________________ For TRS:_________________________
Xxxxx Xxxx (date) Xxx Xxxxx (date)
President President
