1. Desiny EntrepreneursProject Resourcing and Facilitating
76 Fairview Drive
Constantia Kloof
JHB
Gauteng
South Africa
Cell: 079 816 9938
wcombrinkwayne@yahoo.com
MEMORANDUM OF UNDERSTANDING
BETWEEN: Destiny Entrepreneurs
AND:
By a Memorandumof Understandingenteredintobyand between………………………………………………………………………………..
(All as defined therein and together 'the MOU Parties'), the MOU Parties agree on advisory and business support
services from (date) …………………………………..
Which includes the buying and selling of mines, Joint- ventures, Assets , Operational Mines, Development Projects,
Commercial and Housing ,Commodities , Oil and Diesel , Farms, Land Funding Of Projects and Mines
IT IS HEREBY AGREED AS FOLLOWS:
Definitions
'Parties' means
‘Prospective Project(s)’ means trading with commodities such as Iron ore and manganese ore etc.
Term and Termination
Thiscontract will terminate atanygiventime asand wheneitherof the partiescommits amaterial breachof anyof the
clausesinthisagreement.
It isfurtheragreedthat thisagreementbe assessedbythe partiesannually,afterwhichone of the following events will
occur by mutual agreement:
1.1.1 Termination of this Agreement
1.1.2 Continuation of this Agreement
2. 3. Handling of Confidential Information
3.1 The receiving party shall maintain the other party's Confidential Information in confidence and shall
exercise inrelationtheretonolessersecuritymeasures and degree of care than those which the receiving
party appliestoitsownconfidential informationwhichthe receiving party warrants as providing adequate
protection against unauthorised disclosure, copying or use.
3.2 The receiving party shall ensure that disclosure of such Confidential Information is restricted to those
employees or directors of the receiving party having the need to know the same for the Purpose. Copies or
reproductionsshall notbe made excepttothe extentreasonably necessary for the Purpose and all copies made
shall be the propertyof the disclosingparty.All Confidential Information and copies thereof shall be returned to
the disclosingpartywithin 14 days of receipt of the disclosing part…………………………………………….
4. Limitations & Warranty
4.1 The receiving party shall:
(a) Not divulge the other party's Confidential Information, in whole or in part, to any third party;
(b) Use the same only for the Purpose;
(c) Make no commercial use of the same or any part thereof withoutthe priorwrittenconsentof the disclosing
party.
(d) Notwithstandingthe foregoing,the receivingpartyshall be entitledtomake any disclosure required by law
of the otherparty's ConfidentialInformationbutshall give the other party not less than two business days'
notice of such disclosure.
4.2 Each party warrants itsrightto disclose itsConfidential Information to the other party and to authorise the
other party to use the same for the Purpose.
5. Disclaimer
All rightsinConfidential Information are reserved by the disclosing party and no rights or obligations other than
those expressly recited herein are granted or to be implied from this Agreement. In particular, no licence is
herebygranteddirectlyorindirectlyunderanyinvention,discovery,patent,copyrightorotherindustrialproperty
right now or in the future held, made, obtained or licensable by either party. Nothing in this Agreement or its
operationshall preclude,impairorrestricteitherparty from continuing to engage in its business otherwise than
in breach of the terms of this Agreement.
3. 6. Notices
All noticesunderthisAgreementshallbe inwriting,sentbyfacsimile or pre-paid registered post or delivered by
hand to the party being served at its address specified above or at such other address of which such party shall
have givennotice asaforesaid,andmarkedforthe attentionof thatparty's signatoryof thisAgreement. The date
of service shall be deemedtobe the dayfollowing the dayonwhichthe notice wastransmittedorhand delivered
as the case may be or if posted, the seventh day following the day on which it was posted.
7. Termination
This Agreement shall continue in force from the date hereof for a period of 5 (Five) years. The provisions of
Clauses 1, 2 and 3 shall survive any such termination.
8. Non-Assignment
ThisAgreementispersonal tothe Partiesandshall notbe assignedorotherwise transferredinwhole orin part by
either party without the prior written consent of the other party.
9.Commission
All partiesare entitledtoacommission,percentage orshareholdingdepending on the specific transaction being
agreed upon.
10. Paymaster
The paymaster will be the appointed Bank or Attorney.
4. Signed on this ……………………………………………..
1. ………………………………………………………. for and on behalf of
Name:
Witness:
SIGNATURE of Company Representative.
2. ………………………………………………………… for and on behalf of
Name: Destiny Entrepreneurs
Witness: ………………………………………..
3. ……………………………………………………………for and on behalf of
Name: ………………………………………….
Witness:………………………………………….
Director: WayneCombrink Destined for Success
