Document:

bicx_ex101.htm

EXHIBIT 10.1

 

RESTATEMENT OF SUBLICENSE AGREEMENT

This Restatement of Sublicense Agreement (the "Agreement") is entered into and made effective July 7, 2014 (the "Effective Date") between BIOCORRX, INC., whose principal place of business is at 601 Parkcenter Drive, Suite 103, Santa Ana, California 92705 (hereinafter referred to as "LICENSOR") and, Kryptonite Investments, LLC, whose principal place of business is P.O. Box 464, Brimfield, IL 61517 (hereinafter referred to as "LICENSEE”).

BioCorRx, Inc. is formerly known as Fresh Start Private Management, Inc All parties are aware of and acknowledge the name change and proceed with that understanding.

This Restatement appropriately and fully states the intent and understanding of all parties and shall serve to clarify issues which have become known to the parties since the execution of the License Agreement on April 8, 2013. The execution date of April 8, 2013 shall remain the effective date for establishment and granting of the License and all calculations of performance deadlines and relevant obligations between the parties. In the event that any of the terms contained herein may conflict or contradict terms called for in the License Agreement executed on April 8, 2013, it is acknowledged and agreed by all parties that terms stated herein shall fully supersede any and all prior agreements and/or understandings between the parties whether written or oral.

LICENSOR possesses a master license granted to LICENSOR by Trinity Rx Solutions, whose principal place of business is 217-21 Rockaway Point Blvd, Breezy Point New York, 11695 (hereinafter referred to as "TRINITY"). TRINITY is aware of, and acknowledges and grants to LICENSOR all rights necessary to grant the SUBLICENSE described herein to LICENSEE. TRINITY’S acknowledgement of LICENSOR’S right to SUBLICENSE to LICENSEE is expressly confirmed as evidenced by the signature of TRINITY representative and owner SAL AMODEO.

WITNESSETH

WHEREAS, Trinity has granted to LICENSOR exclusive, worldwide licensing rights except for Australia and New Zealand (the "Licensor Rights") pursuant to that certain License Agreement entered into between LICENSOR and Trinity dated October 28, 2010 (the "Trinity License Agreement") for Naltrexone Implants that have been designed to treat alcoholism and Opioid addiction (the "Implant");

WHEREAS, LICENSOR has developed and owns worldwide rights to the Start Fresh Coaching Program (the "Coaching Program");

 

WHEREAS, LICENSOR has developed certain Know-How as defined below;

WHEREAS, LICENSEE desires to sub-license from Licensor the Licensor Rights solely for use in the License Territory (as defined below), upon the terms and conditions provided herein;

  

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WHEREAS, LICENSEE desires to acquire an exclusive license to distribute and sell, solely in the License Territory, the Implant and Coaching Program upon the terms and conditions contained herein; and

WHEREAS, LICENSEE desires to acquire an exclusive license to utilize, solely in the License Territory, the Know-How.

NOW THEREFORE, for these and other valuable considerations defined herein, the parties agree as follows:

l. DEFINITIONS

 

1.1 "Affiliate" shall mean any corporation or other business entity controlled by, controlling or under common control with LICENSOR or LICENSEE. For purposes of this Agreement, "control" shall mean direct or indirect beneficial ownership of at least a fifty percent (50%) of the voting interest in such entity, or such other relationship as in fact, constitutes actual control.

 

1.2 "Know-How" shall mean trade secrets, inventions, data, processes, procedures, devices, methods, formulas, protocols, trademarks, logos, marketing materials, copyrights, patents, information and other know-how, whether or not patentable, which is owned or controlled by

LICENSOR during the License Term and is necessary or useful for the commercial exploitation of the Implants and Coaching Program.

 

1.3 "License Territory" shall mean the entire state of Arizona.

 

1.4 "Regulatory Authority" shall mean the United States federal government, any state or local agency, or any other medical licensing or regulatory authority in any jurisdiction.

 

2. GRANT OF LICENSES

 

2.1 Grant of Sub-License. In consideration of the fees to be paid and other mutual promises further described herein, LICENSOR hereby grants to LICENSEE an exclusive sublicense in the License Territory to obtain, market, use, sell, and offer for sale, the Implants pursuant to the terms contained herein.

 

2.2 Grant of Other Licenses. In consideration of the fees to be paid and other mutual promises further described herein, LICENSOR also grants to LICENSEE an exclusive, license to, solely within the License Territory: (i) obtain, market, use, sell, and offer for sale the Coaching Program; and (ii) utilize the Know-How, which shall specifically include, but not be limited to, the logo and certain marketing materials currently utilized by Licensor, as well as the characteristics of the compound formula of the Implant solely for the purposes described herein.

 

2.3 Acknowledgement by Trinity. Trinity acknowledges that Licensor currently has the exclusive rights to sub-license the use of the Implants and to grant the sub-license contained herein; provided, however, that in the event that Licensor no longer has the Licensor Rights granted pursuant to the Trinity License Agreement, or the ability to grant the sub-license granted under Section 2.1, Trinity agrees for the term of this agreement that it shall grant to Licensee the same rights as granted to Licensor pursuant to the Trinity License Agreement with respect to Licensee's rights to utilize the Implants as further described herein.

  

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2.4 Further Actions. It is agreed that the LICENSOR will grant LICENSEE the right to communicate directly with Trinity, with any and all written communications to include copied communications to LICENSOR; provided, however, that LICENSEE agrees not to circumvent the LICENSOR with any of its business dealings with Trinity. Notwithstanding the foregoing, LICENSEE agrees to follow instructions for program and implant ordering pursuant to Exhibit B.

 

2.5 Exclusivity. The license and sub-license granted herein shall be exclusive in nature for the License Territory, and LICENSOR agrees only LICENSEE shall have the right to market and sell the Implants and Coaching Program, and utilize the Know-How in the License Territory, and further, that LICENSEE may seek an injunction or other temporary relief preventing any third party, including LICENSOR, from selling the Implants or Coaching Program in the License Territory or taking any action to specifically divert business away from LICENSEE in the License Territory.

 

3. TERM

 

3.1 So long as all minimal annual milestones are achieved, all payment installments received, and any alleged breaches by LICENSEE are timely cured this Agreement shall remain in effect in perpetuity. Any failure by LICENSEE, in whole or in part, to achieve all minimum annual milestones, make payment installments on time and/or cure any material breach on the part of LICENSEE shall allow LICENSOR to terminate this SUBLICENSE AGREEMENT with all rights conferred to LICENSEE reverting back to LICENSOR.

 

4. REPRESENTATIONS AND WARRANTIES

 

4.1 Mutual Representations and Warranties. Each party represents and warrants that: (i) it possesses the legal capacity and is authorized to execute and deliver this Agreement and to perform its obligations hereunder; (ii) this Agreement is a legal and valid obligation binding upon it and enforceable in accordance with its terms; and (iii)to the best of its knowledge the execution, delivery and performance of this Agreement does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it.

 

4.2 Representations and Warranties of LICENSOR.

(a) LICENSOR represents and warrants that LICENSOR owns the rights to the Coaching Program and Know-How and has sufficient rights and power to grant the licenses to the Coaching Program and Know-How which LICENSOR purports to grant herein.

(b) LICENSOR represents and warrants that: (i) LICENSOR has the LICENSOR Rights and is not in breach of the Trinity License Agreement; (ii) LICENSOR will not willfully breach the Trinity License Agreement at any time after the Effective Date; and (iii) that LICENSOR has the sufficient rights and power to grant the sub-license to LICENSEE described in Section 2.1.

(c) LICENSOR represents that, to the best of its knowledge, except as set forth, there are no outstanding liens, encumbrances, agreements or understandings of any kind, either written, oral or implied, regarding the Coaching Program or Know-How which are inconsistent or in conflict with any provision of this Agreement.

 

  

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(d) LICENSOR represents and warrants that it has no knowledge of any outstanding and unresolved claim or accusation that the Implants, Coaching Program, or Know-How infringes or may infringe any third-party patent right(s). Furthermore, Licensor represents that it has no knowledge of any claim or threatened legal action that could impair the Licensor Rights, or any license or sub-license granted to LICENSEE herein.

 

(e) LICENSOR represents and warrants that it has not received any written notice, or been threatened that any Regulatory Agency plans to take any action that would be materially adverse to the Implants, the Coaching Program, or the Know-How.

 

(f) LICENSOR represents and warrants that it possesses product liability insurance as of the effective date and will continue to retain such insurance for the term of this agreement unless denied by insurance carriers due to circumstances out of LICENSOR’s control.

4.3 Representations and Warranties of LICENSEE.

(a) LICENSEE represents that it has the financial resources required to open and operate a business location to promote the Implants and Coaching Program (the "Licensee Business"), and is aware of and will comply with all laws and requirements necessary to lawfully operate the Licensee Business.

(b) LICENSEE represents that it will use its best efforts to promote the positive image of the Implants and the Coaching Program.

(c) LICENSEE represents that it has no current legal claims from parties that may inhibit LICENSEE's ability to operate the Licensee Business.

(d) LICENSEE warrants that it will identify and ensure compliance with all medical codes of conduct and applicable laws and statutes in the License Territory as applicable to the Licensee Business.

 

(e) LICENSEE represents that it will use commercially reasonable efforts to maintain the confidentiality of the Know-How.

 

(f) LICENSEE represents that they meet the criteria to be an Accredited Investor.

 

(g) LICENSEE represents that it will not intentionally market the implant or program outside of the License Territory without consent from LICENSOR or 3rd Party that may have license or distribution rights to the specific territory targeted with marketing.

 

(h) LICENSEE represents and warrants that it possesses product liability insurance as of the effective date and will continue to retain such insurance for the term of this agreement unless denied by insurance carriers due to circumstances out of LICENSEE’s control.

  

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4.4 Representations and Warranties of Trinity.

(a) Trinity represents and warrants that: (i) Licensor is not in breach of the Trinity License Agreement; and (ii) Licensor has a valid, perpetual, irrevocable license right to distribute the Implant and a right to sublicense such rights. Furthermore, as of the Effective Date, Trinity represents and warrants that it has taken no action, or is contemplating any such action, to terminate the Licensor Rights, or Licensor's ability to grant the sublicense contained in Section 2.1.

 

(b) Trinity represents and warrants that it will not license the rights to market, sell, or use the Implants to any third party in the License Territory without the express written consent of LICENSEE.

5. *

 

6. ASSIGNMENT

 

Neither party shall assign this Agreement without the consent of the other party, such consent to not be unreasonably withheld.

 

7. BINDING EFFECT

 

This Agreement shall extend to and be fully binding upon the successors and legal representatives and permitted assigns of LICENSOR and LICENSEE.

 

8. NOTICE

All correspondence to LICENSEE shall be addressed as follows below, or to any new address as supplied subsequent to the signing of this Agreement:

Kryptonite Investments, LLC

P.O. Box 464

Brimfield, IL 61517

All correspondence to LICENSOR shall be addressed, as follows:

BioCorRx, Inc.

601 N. Parkcenter Dr, Suite 103

Santa Ana, California 92705

Attention: Mr. Brady Granier

Either party may change the address to which correspondence to it is to be addressed by notification as provided herein.

_____________

* Information omitted pursuant to a Confidential Treatment Request filed with the Securities and Exchange Commission.

 

  

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9. TERMINATION

 

9.1 Termination by LICENSOR. LICENSOR shall have the right to terminate this Agreement if LICENSEE commits a material breach of an obligation under this Agreement and such breach is not cured by LICENSEE within sixty (60) days from the date LICENSOR notifies LICENSEE in writing of the breach.

 

9.2 Termination by LICENSEE. LICENSEE shall have the right to terminate this Agreement for any reason, or no reason at all upon sixty (60) days notice to LICENSOR. In the event that LICENSEE terminates this Agreement pursuant to this Section 9.2, LICENSEE agrees not to engage in a competitive business with LICENSOR in the License Territory for a period of two (2) years following the effective date of termination. For purposes of this Agreement, the term "competitive business" shall mean the treatment of alcoholism or opioid addiction through the use of an implanted device and/or coaching or counseling.

 

9.3 Effect of Termination. Upon a termination of this Agreement, the licenses granted herein shall immediately terminate and each party shall immediately return or destroy any Confidential Information of the other party; provided, however, that each party may keep any portion of the Confidential Information required to be maintained by such party by any Regulatory Agency.

 

10. CONFIDENTIALITY

 

10.1 Confidential Information means (i) all proprietary or confidential information of either party hereto or its customers which is: (a) designated in writing as such; or (b) that by nature of the circumstances surrounding the disclosures in good faith ought to be treated as proprietary or confidential, including, but not limited to, the Coaching Program, the Know-How, and any information concerning any patient of LICENSEE.

 

10.2 Each party shall use the Confidential Information only for the purposes as set forth in the Agreement and shall disclose the Confidential Information only as specifically authorized in Section 10.3 below. Neither party shall remove any confidentiality, copyright, or similar notices or legends from the Confidential Information and shall implement such safeguards and controls as may be necessary or appropriate to protect against unauthorized uses or disclosures of the Confidential Information.

 

10.3 The receiving party shall not disclose Confidential Information except (i) to its employees, consultants or any third party having a legitimate business purpose and having a need to know such Confidential Information and (ii) in accordance with judicial or other governmental order, provided the receiving party gives reasonable notice to the other party prior to such disclosure and shall comply with any protective order or equivalent.

 

10.4 If any employee, officer, director, consultant, or agent of either party violates the provisions of this Section 10, or if any third party obtains any Confidential Information through one party without the other party’s authorization, then such disclosing party shall take, at its own expense, all actions that may be required to remedy such violation, or recover such Confidential Information and to prevent such employee, officer, director, agent, consultant, or third party from using or disseminating such Confidential Information, including, but not limited to, legal actions for seizure and injunctive relief, if then available under local law. If the disclosing party fails to take such actions in a timely and adequate manner, the other party or its designee may take such actions in its own name or disclosing party’s name and at the disclosing party’s expense.

  

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11. GOVERNING LAW

 

This Agreement shall be governed by and interpreted in accordance with the laws of the State of California and both parties agree that any action brought under this Agreement by either party shall exclusively be brought in the courts of Los Angeles County, CA.

 

12. SEVERABILITY

 

Should any part or provision of this Agreement be held unenforceable or in conflict with the applicable laws or regulations of any jurisdiction, the invalid or unenforceable part or provision shall be replaced with a provision which accomplishes, to the extent possible, the original business purpose of such part or provision in valid and enforceable manner, and the remainder of the Agreement shall remain binding upon the parties hereto.

 

13. SURVIVAL

 

Sections 4, 10 and 11 shall survive the termination of this Agreement.

 

14. OWNERSHIP

 

All Confidential Information, including all copies, disclosed by LICENSOR to the LICENSEE under this Agreement, shall be and remain property of LICENSOR notwithstanding the integration of such Confidential Information into a new document by LICENSEE. Upon.: (i) written request by LICENSOR; (ii) termination of this agreement; or(iii) conclusion of the Parties' business relationship, all of LICENSOR's Confidential Information, including all copies thereof and records, notes and other written, printed or tangible material pertaining thereto that is in possession of the LICENSEE, shall be returned to LICENSOR promptly and shall not thereafter be retained in any form by LICENSEE; provided, however, that documents created by LICENSEE that include both LICENSOR's and LICENSEE's Confidential Information do not need to be delivered to LICENSOR and may instead be destroyed by LICENSEE in a manner which preserves its confidentiality. The LICENSEE shall provide written certification that all of LICENSOR's confidential information has been destroyed.

 

15. AMENDMENT

 

No amendment or modification of the terms of this Agreement shall be binding on either party unless reduced to writing and signed by an authorized officer of the party to be bound

 

16. WAIVER

 

No failure or delay on the part of a party in exercising any right hereunder will operate as a waiver of, or impair, any such right. No single or partial exercise of any such right will preclude any other or further exercise thereof or the exercise of any other right. No waiver of any such right will be deemed a waiver of any other right hereunder.

 

17. ENTIRE AGREEMENT

 

This Agreement constitutes the entire agreement between the parties hereto respecting the subject matter hereof, and supersedes and terminates all prior agreements respecting the subject matter hereof, whether written or oral, and may be amended only by an instrument in writing executed by both parties hereto.

  

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18. ATTORNEYS FEES

 

The prevailing party in any dispute that arises out of or is related to this agreement shall be entitled to recover their reasonable attorney's fees and litigation costs associated with the dispute.

 

19. COUNTERPARTS

 

This Agreement may be executed in counterparts and each such counterpart shall be deemed an original hereof.

 

20. INDEMNIFICATION

 

20.1 LICENSOR Indemnification. LICENSOR hereby agrees to indemnify and hold harmless LICENSEE, and its members, successors, employees, and agents ("LICENSEE Indemnified Parties") from and against any loss, damages or costs incurred by the LICENSEE Indemnified Parties as a result of: (i) a breach of any representation or warranty by LICENSOR; or (ii) any breach of this Agreement related to the grossly negligent or intentional actions of LICENSOR.

 

20.2 LICENSEE Indemnification. LICENSEE hereby agrees to indemnify and hold harmless LICENSOR, and its members, successors, employees, and agents ("LICENSOR Indemnified Parties") from and against any loss, damages or costs incurred by the LICENSOR Indemnified Parties as a result of: (i) a breach of any representation or warranty by LICENSEE; or (ii) any breach of this Agreement related to the grossly negligent or intentional actions of LICENSEE.

 

21. NO FURTHER ASSURANCES

 

This Agreement contains all rights and interests conveyed and shall supersede any and all other agreements, proposals, communications and understandings, whether intended or not, which may have occurred prior to the execution of this Agreement. By entering into this Agreement LICENSEE acknowledges and confirms that it has no anticipation or expectation of any additional consideration whether in the form of additional or expanded territories or otherwise. LICENSOR is under no obligation to offer LICENSEE any other territories or the right to match any proposed offers to LICENSOR for other territories, if any, that may be presented to LICENSOR in the future.

  

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IN WITNESS WHERE OF, the parties here to have caused this Agreement to be executed by their respective officers there unto duly authorized to be effective as of the Effective Date.

 

	LICENSEE	 	LICENSOR	 
	 	 	 	 	 	 
	Kryptonite Investments, LLC	 	BioCorRx, Inc.	 
	 	 	 	 	 	 
	By:	/s/ Karen Kansfield	 	By:	/s/ Neil Muller	 
	Name:	Karen Kansfield	 	Name:	Neil Muller	 
	Title:	President 	 	Title:	President	 
	 	 	 	 	 	 
	 	 	 	By:	/s/ Brady Granier	 
	 	 	 	Name:	Brady Granier	 
	 	 	 	Title:	Chief Operating Officer	 
	 	 	 	 	 	 
	 	 	 	By:	/s/ Lourdes Felix	 
	 	 	 	Name:	Lourdes Felix	 
	 	 	 	Title: 	Chief Financial Officer	 
	 	 	 	 	 	 
	
With respect to Sections 2.3, and 4.4 only:

 

Trinity

Trinity Rx Solutions, Inc.

	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Sal Amodeo	 	 	 	 
	Name:	Sal Amodeo	 	 	 	 
	Title:	President	 	 	 	 

 

  

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Exhibit A*

 

 

 

 

 

 

 

 

 

 

 

 

_______________

* Information omitted pursuant to a Confidential Treatment Request filed with the Securities and Exchange Commission.

  

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Exhibit B*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

________________

* Information omitted pursuant to a Confidential Treatment Request filed with the Securities and Exchange Commission.

 

  

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Exhibit C

Note Payable (See Exhibit 10.2)

 

 

 

 

 

 

 

 

  

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Exhibit D*

 

 

 

 

 

 

________________  

* Information omitted pursuant to a Confidential Treatment Request filed with the Securities and Exchange Commission.

 

 

13bicx_ex102.htm

EXHIBIT 10.2

 

FORM OF

PROMISSORY NOTE

 

 

	DATE: July 07, 2014	 CITY: Santa Ana 	STATE: California

                                                       

PRINCIPAL AMOUNT: ________

 

LENDER: ___________________

 

	
BORROWER:

	
BioCorRx, Inc.

601 North Parkcenter Drive, Suite 103

Santa Ana, California 92705

E.I.N.: 26-1972677

 

RECITALS:

 

This note amends and restates in its entirety that certain Convertible Note dated April 5, 2013, made by the Borrower in favor of the Lender in the original principal amount of _____ ($____) (the “Existing Note”); provided, that this Note is given solely in substitution of the Existing Note and not in repayment or satisfaction thereof. The Borrower hereby acknowledges and agrees that simultaneously with the Borrower’s execution and delivery of this Note to the Lender, the Lender has agreed to deliver, and is in fact delivered, to the Borrower the Existing Note, marked “cancelled”.

 

1. PAYMENT AMOUNT: For value received, Borrower promises to pay to the order of Lender the sum of ($______) as set forth in Exhibit A, together with interest and other charges provided herein pursuant to the terms of this Note.

 

2. INTEREST: Interest on the balance due shall accrue from the date of this Note at the rate of twelve percent (12%) per annum.

 

3. INSTALLMENT PAYMENTS AND BALOON PAYMENT: Borrower will make monthly installment payments, which include principal and interest, of not less than _____ ($____), beginning on August 15, 2014 and continuing on the fifteenth (15th) day of each month until July 15, 2016. Borrower agrees to pay the remaining principal balance and interest on or before July 15, 2016.

 

4. PREPAYMENT: Any portion or all of the balance due on this Note may be prepaid at any time without penalty.

 

5. PLACE OF PAYMENT: All payments shall be made payable to Lender and delivered or sent to the address of Lender as provided below, or at such other place as Lender may hereafter designate in writing.

 

	Page 1 of 3	PROMISSORY NOTE
	 	BioCorRx Inc.

 

  

  

  

 

6. LATE PAYMENT CHARGE: If any payment is fifteen (15) or more days in arrears then, without notice of delinquency, a charge of five percent (5%) of the payment shall be charged to Borrower and added to the balance due on this Note and shall bear interest at the rate herein described. Such late payment charge shall be paid by Borrower within seven (7) days of the date it is incurred. Lender shall have the continued right to declare a breach of this agreement for Borrower's failure to pay such late payment charge and/or the payment on which it is based. Failure to enforce payment of this late payment charge and/or the payment on which it is based shall not constitute a waiver of Lender's right to assert such breach nor a waiver of Lender's right to enforce any provision of this Promissory Note.

 

7. DEFAULT/TIME OF ESSENCE: Time of payment and performance is of the essence of this Promissory Note. In the event that Borrower shall fail to make any payment due or to perform any of the terms of this agreement, Lender, at Lender's option and subject to the requirements of notice provided herein, shall have the following rights (no one of which shall be waived by exercise of another):

 

	 	
a.

	
To declare the full, unpaid balance of this Note, plus interest and other charges accruing thereon, immediately due and payable;

 

	 	
b.

	
To specifically enforce the terms of this agreement by suit in equity;

 

	 	
c.

	
To bring an action for the unpaid and overdue payments without waiving the right to pursue the principal balance, interest, and additions thereto which are due pursuant to the terms of this Note; and

 

	 	
d.

	
To pursue any and all other rights and remedies provided in law or equity.

 

8. DEFAULT NOTICE: Lender shall not be required to give notice of Borrower's failure to make payments provided herein. However, Borrower shall not be deemed in default for failing to perform any covenant or condition of this Promissory Note, other than the making of payments due hereunder, until notice of said default has been given by Lender to Borrower and Borrower shall have failed to remedy said default within ten (10) days after the giving of the notice. Notice for this purpose shall be deemed to have been given by the deposit in the mail of a certified letter containing said notice and addressed to Borrower at the address herein described. Unless Borrower sends payment by certified mail, Borrower specifically accepts the risk of loss of any payment in the mail or in transfer to the Lender or Lender's agent; and it shall be Borrower's duty to verify that the payment actually has been received if Borrower desires such verification.

 

9. NON-WAIVER: Failure by Lender at any time to require performance by Borrower of any of the provisions hereof shall in no way affect Lender's right hereunder to enforce the same nor shall any waiver by Lender of any breach hereof be held to be a waiver of any succeeding breach or waiver of this non-waiver clause.

 

10. MODIFICATION: This Promissory Note may be modified only by written agreement signed by both Lender and Borrower.

 

11. APPLICABLE LAW: Notwithstanding the fact that Borrower is a Nevada corporation with its principal place of business located in California, the parties acknowledge, agree and have negotiated that this Note shall be governed by the laws of the State of California and jurisdiction shall be deemed proper at Los Angeles County, California.

 

	Page 2 of 3	PROMISSORY NOTE
	 	BioCorRx Inc.

 

  

  

  

 

12. ATTORNEY FEES: If this Promissory Note is placed in the hands of an attorney for collection, Borrower promises and agrees to pay Lender's reasonable attorney and legal assistant fees and collection costs, including title and financing statement search costs, even though no suit or action is filed hereon; however, if a suit or an action is filed hereon, the amount of such reasonable attorney and legal assistant fees and other costs shall be fixed by the court or courts, in which the suit or action, including any appeal therefrom, is tried, heard, or decided. In the event that Borrower files for protection under the U.S. Bankruptcy Act during the term of this agreement, Borrower  shall pay to Lender all of Lender's attorney fees and costs incurred to protect Lender's interest during the term of the bankruptcy, whether or not Lender is the prevailing party.

 

	BORROWER:	 
	 	 	 
	BioCorRx, Inc. 

a Nevada corporation

	 
	 	 	 
	By:	/s/ Brady Granier	 
	Name:	Brady Granier	 
	Its:	Chief Operating Officer 	 
	 	 	 
	By:	/s/ Neil Muller 	 
	Name:	Neil Muller	 
	Its:	President 	 
	 	 	 
	By:	/s/ Lourdes Felix 	 
	Name:	Lourdes Felix 	 
	Its:	Chief Financial Officer 	 
	 	 	 
	
LENDER:

	 
	 	 	 
	By:	/s/ Lender	 
	Name:	Lender 	 
	Its:	 	 

 

	Page 3 of 3	PROMISSORY NOTE
	 	BioCorRx Inc.

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