Adviser will at all times be an independent contractor and as such will not have authority to bind the Company. Adviser will not act as an agent nor shall he be deemed to be an employee of the Company for the purposes of any employee benefit program, unemployment benefits, or otherwise. Adviser recognizes that no amount will be withheld from his compensation for payment of any federal, state, or local taxes and that he has sole responsibility to pay the taxes, if any, and file the returns as shall be required by applicable laws and regulations. Adviser shall not enter into any agreements or incur any obligations on behalf of the Company.