Common use of MAINTAINING AND RETAINING RECORDS Clause in Contracts

MAINTAINING AND RETAINING RECORDS. In order to maintain the security and integrity of HepaLife’s record-keeping and reporting systems, all Employees must adhere to applicable records retention procedures and fully understand how to document and transact entries that fall within their jurisdiction. All Employees are expected to comply fully with audits and provide timely response to requests for records or other materials from or on behalf of HepaLife’s auditors or management. COMPLYING WITH THE LAW HepaLife Employees are expected to fully comply with both the letter and the spirit of the laws and regulations of the countries in which the Company conducts business. HepaLife Employees are expected to act in accordance with the accepted business practices in commercial markets and adhere to the contractual terms and conditions applicable to any business transaction. All Employees must commit to abiding by all applicable laws and regulations. The breach of rules, regulations, ethical standards, and laws cannot be justified by the pursuit of profit or the departure from acceptable practice by competitors. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ HepaLife Employees are strictly prohibited by law from buying or selling the Company’s shares or any other public security as a result of inside information. Furthermore, it is against the law and unethical to provide such information about HepaLife to other individuals or companies so that they may gain. In accordance with the Code of Ethics, Employees are strictly prohibited from trading in shares of HepaLife, clients or suppliers as a result of any inside information. ENVIRONMENTAL ISSUES HepaLife is committed to running its business in an environmentally sound and sustainable manner. HepaLife’s objective is to ensure that its business operations have the minimum adverse environmental impact commensurate with the legitimate needs of its business operations.