Memorandum of Understanding (MOU) Template

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Globex Inc.

April 1, 2025

Non-binding except as stated

Memorandum of Understanding

DateApril 1, 2025

Anticipated CompletionQ4 2025

Party A

Globex Inc.

Party B

Northwind University

Purpose

The parties wish to collaborate on a joint research pilot on warehouse demand forecasting and are signing this Memorandum of Understanding (MOU) to record their mutual intent and anticipated contributions.

Anticipated Contributions

Globex Inc.: two research engineers and cloud computing credits

Northwind University: graduate researchers from its Applied AI Lab and an anonymized logistics dataset

Timeline

The parties anticipate completion of the collaboration by approximately Q4 2025.

Binding and Non-Binding Terms

Except for the Binding Provisions, this MOU is a non-binding statement of the parties' current intentions. It is not a contract, an offer, or an agreement to agree, and it creates no obligation to negotiate, to sign a definitive agreement, or to carry out the collaboration. Neither party has any liability to the other under this MOU, other than under the Binding Provisions, unless and until both parties sign a definitive written agreement, and then only as that agreement states. Either party may end discussions at any time, for any reason, by written notice. Only this section and the sections

Confidentiality

Each party shall keep confidential the non-public information the other party discloses in connection with this MOU and identifies as confidential, use it only to evaluate and pursue the collaboration, and return or destroy it on request, for 2 years after disclosure. This does not apply to information that is or becomes public through no fault of the receiving party, was already known to it, is independently developed, or must be disclosed by law. If the parties have signed a separate nondisclosure agreement, that agreement governs instead.

Costs

Each party bears its own costs in connection with this MOU and the collaboration discussions.

No Exclusivity

Each party remains free to discuss and enter into similar arrangements with others.

Term

This MOU ends on the earlier of December 31, 2025, the signing of a definitive agreement, or either party's written notice of termination.

Governing Law

The Binding Provisions are governed by the laws of the State of New York, without regard to conflict-of-laws rules. This MOU may be signed in counterparts and by electronic signature.

Signed by the parties' authorized representatives to record their mutual understanding as of the date above.

Party A

Avery Lee

VP Research, Globex Inc.

Party B

Dr. Pat Singh

Lab Director, Northwind University