The Party understands and agrees that it is acting as an independent contractor in the performance of this Agreement, and nothing herein will be deemed to create an employment relationship or an agency relationship between the Party or any employee of the Party and the Party 2. The Agreement will not be construed to form a partnership, limited partnership, general partnership, joint venture, agency, employer/employee, or like relationship of any kind. Neither the Party 2 nor the Party will have any power to obligate or bind the other. The Party 2 will have no obligation whatsoever to compensate the Party on account of any damages or injuries that the Party may sustain as a result of or in the course of the Agreement, except for any damages or injuries sustained by the Party that result from any negligence by the Party 2. The Party 2 has formed as a corporate entity and acquired insurance for the purpose of limiting its own liability, and it is strongly recommended that the Party do the same as a matter of good business practice. Further, the Party will be solely responsible for the payment of all foreign, Federal, state and local income taxes, social security taxes, foreign, Federal, state and local unemployment insurance and similar taxes, and all other assessments, taxes, contributions or sums payable with respect to the Party as a result of or in connection with its performance under this Agreement. The Party represents to the Party 2 that neither their execution of this Agreement nor performance hereunder conflicts with any contractual commitment on the Party's part to any third party or violates or interferes with any rights of any third party.