Contractor Matters. The Company has identified in the Disclosure Schedule the name and contact information of each independent contractor, consultant, freelancer or other service provider (i) utilized by the Company as of the date hereof or (ii) utilized by the Company relating to the development, modification or creation of any proprietary formulas for the Products within the three (3) years immediately preceding such date (collectively, “Contractors”). A copy of each Contract relating to the services any Contractor provides or provided to the Business has been made available to the Buyer. To the Knowledge of Company, no Contractor used by the Company is a party to, or is otherwise bound by, any Contract or arrangement with any third party, including any confidentiality or non-competition Contract, that in any way adversely affects or restricts the performance of such Contractor’s duties for Seller. Each Contractor ever retained by the Company to create, modify or develop with respect to the proprietary formulas for the Products has executed a nondisclosure and assignment-of-rights Contract for the benefit of the Company and the Company is the owner of all rights in and to all Intellectual Property created by such Contractor in performing services for the Company vesting all rights in work product created in the Company. All individuals who have been treated by the Company as independent contractors in the five (5) years immediately preceding the date hereof were, to the Knowledge of Company, correctly classified as such for purposes of the Code and all other applicable Laws.
Appears in 5 contracts
Samples: Stock Purchase Agreement (Synergy CHC Corp.), Stock Purchase Agreement (Synergy CHC Corp.), Stock Purchase Agreement (Synergy CHC Corp.)
