The category of this post is “Contract of the Week”, but this week we will look at several contracts recently filed on EDGAR which have similar errors, all of which would have been detected by CrossCheck 365.

In Section 1.4 of the Notice of Annual Shareholder Meeting for KWESST Micro Systems, Inc., this statement appears:

A Registered Shareholder wishing to be represented by proxy at the Meeting or any adjournment thereof must, in all cases, deposit the completed form of proxy with the Transfer Agent not later than 5:00 p.m. (EST) on Tuesday, March 29, 2023… 

The problem here is that March 29, 2023 was on Wednesday, not Tuesday.

In an Employment Agreement between Squarex Pharmaceutical Corporation and Hugh McTavish as CEO, Section 8(a) provides that the agreement may be terminated…

(v) by Executive, upon ninety (30) days prior written notice, without Good Reason…

Ninety or thirty? I guess we’ll never know.

In an Employment Agreement between TherapeuticsMD, Inc. and Marlan Walker as General Counsel and Chief Development Officer, Section 2(e) provides that:

As soon as practicable following the Effective Date, the Company will grant to Executive two hudrend thirty thousand (230,000) restricted stock units…

CrossCheck 365 actually reports that “thirty thousand” does not match “230,000” because it can’t make sense of the creatively spelled “hudrend”. But it draws attention to the error.

In Section 7.1(f) of an Asset Purchase Agreement among Digital Media Solutions, LLC and numerous other parties, we read that:

if the Closing has not occurred by April 31, 2023 (or such other date as Parties may mutually agree in writing), this Agreement shall terminate automatically upon such date.

Surprisingly, there is no April 31 in 2023 or any other year, even leap years. Thirty days hath September, April, June and November…

If you’re thinking these are trivial mistakes, here’s one that could have real-world repercussions. In an Employment Agreement between Bubblr, Inc. and Stephen Morris as CTO, Section 6.01 (Solicitation) states that Mr. Morris will not solicit employees…

During the period in which Executive performs services for the Company and for a period of three (1) year after termination…

Interesting that “year” is singular. Although the general rule is that words are favored over numbers, I don’t know what a court would do with this one.