Common use of Proposal Stipulations Clause in Contracts

Proposal Stipulations. The offers expressed or implied in this proposal will be valid until [**]. This document is for the purpose of establishing a clear understanding of our potential relationship only. It does not constitute a legal agreement. Until the appropriate project initiation document is executed, no terms or conditions within this document should be construed as any firm offer or commitment, nor should this document be construed as a constraint to preclude or limit concurrent discussions with other parties regarding substantially identical, similar, or related subject matter. If this proposal is agreeable, please contact [**] to initiate the proper agreement. This proposal contains information that is proprietary to SurModics Pharmaceuticals. It should be handled according to the terms of the current feasibility evaluation agreement between SurModics Pharmaceuticals and NuPathe.