{"id":43410,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/exclusivity-agreement-wolters-kluwer-u-s-corp-and-ovid.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"exclusivity-agreement-wolters-kluwer-u-s-corp-and-ovid","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/planning\/exclusivity-agreement-wolters-kluwer-u-s-corp-and-ovid.html","title":{"rendered":"Exclusivity Agreement &#8211; Wolters Kluwer U.S. Corp. and Ovid Technologies Inc."},"content":{"rendered":"<pre>\n\n                        WOLTERS KLUWER U.S. CORPORATION\n                             161 North Clark Street\n                          Chicago, Illinois 60601-3221\n\nOvid Technologies, Inc.\n333 Seventh Avenue\nNew York, New York 10001\nAttention: Mark Nelson, President\n\nMr. Mark L. Nelson\nc\/o Ovid Technologies, Inc.\n333 Seventh Avenue\nNew York, New York 10001\n\nLadies and Gentlemen:\n\n     In order to induce Wolters Kluwer U.S. Corporation ('WKUS') to commit the\nresources, forego other potential opportunities, and incur the legal,\naccounting, and incidental expenses necessary to properly evaluate acquiring\n100% of the equity of Ovid Technologies, Inc. (the 'Company') and to negotiate\nthe terms of definitive documentation with respect thereto, the Company and Mark\nNelson ('Nelson') agree that\n\n     (a) WKUS will have exclusive negotiating rights which will expire on th\nearlier of (i) Monday, September 28, 1998 at 5:00 p.m. or (ii) the time at which\nthe discussions and negotiations with respect to the possible acquisition of the\nequity have been finally terminated by WKUS) (the 'Expiration Time'). That is,\nfrom and after the date hereof and prior to the Expiration Time, (i) the Company\nwill not (and will cause its officers, directors, employees, representatives and\nagents not to) and Nelson will not, (A) initiate, solicit or encourage, directly\nor indirectly, or conduct negotiations with respect to any proposal or offer for\na merger, asset acquisition or other business combination involving the Company\nor any proposal or offer to acquire a significant equity interest in, or a\nsignificant portion of the assets of, the Company (collectively, an 'Acquisition\nProposal') with any person, or otherwise contact any prospective buyer, other\nthan WKUS or (B) enter into any agreement or provide any confidential\ninformation or data to any person in connection with or relating to any such\nAcquisition Proposal; (ii) each of such persons will immediately cease (and will\ncause its representatives to cease) any existing discussions or negotiations, if\nany, with any parties conducted heretofore with respect to any such Acquisition\nProposal; and (iii) each of such persons will notify (and will cause its\nrepresentatives to notify) WKUS as soon as practicable if any such inquiries or\nproposals are received by, any such information is requested from, or any such\nnegotiations and\/or discussions are sought to be initiated or continued with,\nthe Company or Nelson.\n\n     (b) The Company will continue to allow the representatives of WKUS to meet\nwith the management of the Company (at reasonable times so as not to interfere\nwith the operation of the Company) to examine (but not retain) the Company's\nfinancial, accounting, and business records, assets and liabilities, and all of\nits contracts and other legal documents, and generally to conduct a commercial,\naccounting, and legal investigation of the business and affairs of the Company.\nSuch investigation, and any information obtained by WKUS as a result thereof,\nwill be maintained by WKUS in confidence in accordance with our previously\nsigned confidentiality agreement and will not be used or disclosed by WKUS if\nfor any reason the transaction contemplated hereby is not consummated except to\nthe extent \n\n\n\n\n\npermitted by such agreement. The results of such due diligence reviews must\ncontinue to be satisfactory to WKUS. The due diligence review will be completed\nby the execution of definitive documentation.\n\n     (c) None of the Company, Nelson nor WKUS (subject to requirements of law)\nwill make any announcement regarding this letter or any transaction which\nresults from the contemplated negotiations without the prior approval of both\nthe Company and WKUS, having regard for the fact that timely announcements may\nbe required by law to be made to the financial and general press in the United\nStates and the Netherlands. Accordingly, the Company and WKUS agree not to\nwithhold or delay approval of such announcements unreasonably.\n\n     (d) The Company and WKUS shall each pay their respective expenses incident\nto the negotiations, due diligence and the preparation of definitive\ndocumentation.\n\n     If you are in agreement with the terms and conditions of this letter,\nplease so indicate by executing a copy of this letter in the space provided\nbelow.\n\n\n                                       Sincerely,\n\n                                       WOLTERS KLUWER U.S. CORPORATION\n\n\n\n\n                                       By: \/s\/ BRUCE C. LENZ\n                                           ----------------------------\n                                               Bruce C. Lenz,\n                                               Executive Vice President\n\nAccepted and Agreed to this\n22nd day of September, 1998\n\nOVID TECHNOLOGIES, INC.\n\nBy: \/s\/ MARK L. NELSON\n        -------------------------\n        Mark L. Nelson, President\n\n\/s\/ MARK L. NELSON\n    -----------------------------\n    Mark L. Nelson\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8436],"corporate_contracts_industries":[9510],"corporate_contracts_types":[9622,9626],"class_list":["post-43410","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-ovid-technologies-inc","corporate_contracts_industries-technology__programming","corporate_contracts_types-planning","corporate_contracts_types-planning__merger"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/43410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=43410"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=43410"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=43410"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=43410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}