Letter of Intent
This Letter of Intent is made between [Party A name] (the "Party A") and [Party B name] (the "Party B") as of the date of the last signature below.
1. Proposed deal
The parties are discussing: [describe the transaction].
2. Main terms
Price: [amount]. Timing: [dates]. Other key terms: [list].
3. Next steps
The parties will negotiate a full agreement in good faith and aim to sign it by [date]. Until [date], neither will negotiate the same deal with anyone else.
4. Binding effect
Only the exclusivity and confidentiality in this letter are binding. Everything else is an outline, and neither party is bound to the deal until a full agreement is signed.
5. Confidentiality
Each party will keep the other's non-public information confidential, use it only for this agreement, and return or destroy it on request. This duty continues for [three years] after this agreement ends.
6. General
This agreement is governed by the laws of [state]. It is the entire agreement between the parties on its subject and may be changed only in writing signed by both. It may be signed electronically and in counterparts.