Ferrero, an Italian company with U.S. headquarters in Somerset, N.J., said its contract with the Los Angeles Lakers guard expires in January.
"Marketing plans established earlier this year did not contemplate a contract renewal," the company said in a statement. "In keeping with this decision, and considering the recent developments, Kobe's image on Nutella labels and promotional material is being phased out."
A call to Bryant's agent, Arn Tellem, was not immediately returned.
Bryant, 24, is charged with sexually assaulting a 19-year-old woman on June 30 at a mountain resort in Edwards, Colo. Bryant has said the two had consensual sex. His initial court appearance is tomorrow.
Yesterday, the judge in the case rejected Bryant's request to keep cameras out of the courtroom during his first court appearance.
Bryant's attorneys argued against allowing cameras during the hearing scheduled tomorrow, saying they could jeopardize Bryant's right to a fair trial.
Eagle County Judge Frederick Gannett ruled that was unlikely.
"Defendant's objections are general in nature and do not allege any specific prejudice which may result from expanded media coverage," the judge wrote.
Polynice, 38, played for the Harlem Globetrotters and two minor league teams last season. He averaged 5.3 points and 4.7 rebounds for the Jazz during the 2000-01 season.
Terms of the contract weren't disclosed.
It will be the second stint with the Clippers for Polynice, who played for Los Angeles in 1991-92. He's also played for Seattle, Detroit and Sacramento.
The 76ers signed Polynice last October, but waived him before the season started.
Polynice later had short stays with the Harlem Globetrotters, Grand Rapids Hoops of the Continental Basketball Association and Pennsylvania Valley Dawgs of the United States Basketball League.
Lynch, a 10-year NBA veteran, averaged 4.5 points, 4.4 rebounds and 18.5 minutes in 81 games with the Hornets last season.
The Hornets went 20-12 in the 32 games Lynch started. In those games, the 6-foot-8, 235-pounder averaged 7.1 points, 6.0 rebounds and 2.4 assists.