Document:

Converted by EDGARwiz

Manufacture’s Opinion Letter

Date: 

August 2018

To:

sam® Distributors

From: 

James S. Molinaro, Chief Commercial Officer

Re:

sam® Pro 2.0 Rentals - Consumable and Replacement Costs

For distributors who are renting the sam® Professional units through Insurance Claims; the following are our guidelines based upon our experience with renting the sam® device to multiple patients.

1.0 

BASE UNIT COST and WARRANTY

1.1

Base sam® Pro 2.0 Unit Price to the Distributor (SA271): $2,822

1.2

Base Unit Includes: sam® Pro 2.0 Unit with Dual Applicator/Transducer and Charger

1.3

Warranty: 12-months or 9 Rentals on Applicators/Transducers from Date of Shipment from Factory

2.0 

CONSUMABLE ITEMS; Including Damage and Loss

2.1

sam® Gel Capture Patches (UB-14-24): $120/Pack (24-pcs per Pack); 2-Pcs per Day 

2.2

sam® Power Controller: replacement or loss after 4-rentals; $230/unit

2.3

sam® Applicator: WC patients accidentally throw the Applicators away with the Coupling Patch; our opinion is this will happen at least two-times during a 12-month rental usage; 2-Applicators per sam® Professional Unit: $295/Applicator

2.4

sam® 2-Oz Tube of Gel (S1007-AC): issued with each Patient Rental; $6/Tube

2.5

sam® Y-Adaptor (S1003-AC): WC patients accidentally break the Y-Cable when removing the Applicators; our opinion is this will happen two happen at least three during the 12-month usage; 2-Applicators per sam® Professional Unit: $45/Y-Adaptor

2.6

sam® Charger (S1005-AC): Typically, patients lose the Charger; would expect for this to happen at least twice per year; 2-Applicators per sam® Professional Unit: $75/Charge

 www.samrecover.com | info@samrecover.com

             

Page 1 of 3

3.0 

PATIENT DISPENSING, RETURNS and CLEANING COSTS

3.1

Delivery of sam® Professional Unit/Patches to Patient and Instructions of Use: 

3.1.1

Travel Time (Nominal 30-miles RT): 30-miles x 0.575 = $17.25

3.1.2

Instruction of Use to Patient (30-60 minutes): $75 Labor Cost

3.2

sam® Unit Return; Shipping Box + Pre-paid Postage: $55/Patient Rental

3.3

Patient Follow-up Calls (2-weeks & 4-weeks): $75 Labor Cost

3.3

sam® Unit Inspection and Clean-up: 

3.3.1

Cleaning Supplies/Swabs: $15/Patient Rental

3.1.2

Inspection, Clean-up and Re-Pack (30-60 minutes): $75 Labor Cost

4.0 

PATIENT RENTALS DURING 18-MONTHS

4.1

Minimum Patient Rental: 36-days

4.2

PATIENT DISPENSING, RETURNS and CLEANING COSTS: 5-days/Rental

4.3

MAXIMUM PATIENT RENTAL DURING 12-MONTHS: 10 Rentals

5.0 

PATIENT NON-RETURNS and DENIED CLAIMS

5.1

Patient Non-returns: Of the 10 Patients Renting the units it should be expected that at least 1-Patient will not return the sam® Pro 2.0 unit

5.2

Denied Claims or False Claim: Of the 10 Patients renting the units it should be expected that at least 1-Patient submits a “false claim” or the claim is denied

5.3

Net Rentals per sam® Professional unit: 8-Rentals

 www.samrecover.com | info@samrecover.com

             

Page 2 of 3

6.0

SUMMARY RENTAL DISTRIBUTOR COSTS: 12-month Usage (8-Patient Rentals)

					
	Description

	Item Number

	Qty.

	Unit Price

	Extended Price

	sam® Pro 2.0

	SA271

	1

	US$ 2,822.00

	$ 2,822.00

	sam® Gel Capture Patches PACKS (11-Rentals x 36-Days x 2 Patches/Day)

	UB-14-12

	24

	US$ 120.00

	$ 2,880.00

	sam® Sport Controller

	N/A

	2

	US$ 230.00

	$ 460.00

	sam® Sport Applicators

	N/A

	4

	US$ 295.00

	$ 1,080.00

	sam® 2-Oz Tube of Gel

	S1007-AC

	8

	US$ 6.00

	$ 48.00

	sam® Y-Adaptor

	S1003-AC

	2

	US$ 90.00

	$ 45.00

	sam® Charger

	S1005-AC

	2

	US$ 75.00

	$ 150.00

	sam® Delivery and Instruction for Use

	--

	8

	US$ 92.25

	$ 738.00

	sam® Unit Return, Shipping Box/Pre-Pay

	--

	8

	US$ 55.00

	$440.00

	sam® Inspection and Clean-up

	--

	8

	US$ 92.25

	$ 738.00

	Patient Non-returns

	SA271

	1

	US$ 2,822.00

	$ 2,822.00

	 
	 
	 
	TOTAL

	 

7.0

SUGGESTED MONTHLY RENTALS TO PATIENTS

7.1

Total Estimated Distributor Costs for 8-Patient Rentals: $ 12,223.00

7.2

Daily Cost per Patient: $12,223.00/8-Patients x 36-days = $ 42.44/Day

7.3

Recommended Cost/Day Rental to Patient: (40% Mark-up) $ 59.42/Day

 www.samrecover.com | info@samrecover.com

             

Page 3 of 3Exhibit 10.4

 

 

October
5, 2017

 

David
Platt,

12
Appleton Circle

Newton
MA 02459

 

Dear
Dr. Platt,

 

Bioxytran,
Inc. (together with any affiliates, the “Company”) is pleased to confirm its offer to employ as Chairman, President
and Chief Executive Officer reporting to the Board of Directors. As discussed, your official start date with the Company was effective
October 5, 2017, the date of the Company’s organization.

 

This
position will be unpaid until a later date determined by the Board of Directors. You also will be entitled to three weeks of paid
vacation that begins accruing on a monthly basis from your first day of employment.

 

Upon
the fulfillment of any eligibility requirements, you will be eligible to participate in the employee benefit plans that the Company
may offer to its employees. Descriptions of the benefit plans currently being offered, if any, have been delivered to you. Any
Company benefit plan may, from time to time, be amended or terminated by Company in its sole discretion with or without prior
notice.

 

This
employment offer is contingent upon the conditions outlined below. Please understand the resulting formality of this offer letter.

 

		1)	As
                                         a condition of employment (or continuing employment) with the Company, you are required
                                         to execute the enclosed CONFIDENTIALITY AND DEVELOPMENTS AGREEMENT (“Agreement”).
                                         This is an important legal document that restricts certain activities during your employment
                                         and for a period of time after you leave the Company. You should carefully read the entire
                                         document, review its provisions with your counsel and advisors, and decide whether or
                                         not to enter into this Agreement. You must sign and return the Agreement to me no later
                                         than one week prior to your start date.

 

		2)	Your
                                         employment (or continued employment) by the Company is based in part on your acceptance
                                         and agreement not to compete with the Company. Specifically, you agree that for a period
                                         of twelve (12) months from the date of termination of your employment or cessation of
                                         your business relationship with the Company you will not, either alone or in conjunction
                                         with any person or entity, directly, or indirectly (a) cause or attempt to cause any
                                         client, customer, distributor, partner, joint venturer or supplier of the Company or
                                         any of the Company’s affiliates to terminate or materially reduce its business with the
                                         Company or any such affiliate or (b) participate, accept employment or engage in (other
                                         than through the ownership of two percent (2%) or less of any class of securities registered
                                         under the Securities Act), or otherwise lend assistance (financial or otherwise) to any
                                         person or entity participating or engaged in any line of business in which the Company
                                         is participating or engaged on the date hereof anywhere in the world.

 

     

     

    

 

		3)	In
                                         making this offer of employment (or in agreeing to continue your employment), the Company
                                         is relying upon your representation that you are not under any obligation to any former
                                         employer or any person, firm, or corporation that would prevent, limit, or impair in
                                         any way the performance by you of your duties as an employee of the Company.

 

		4)	The
                                         Immigration Reform and Control Act requires employers to verify the employment eligibility
                                         and identity of new employees. Enclosed is a copy of the Form 1-9 that you will be required
                                         to complete. Please bring this form and appropriate documents listed on the form with
                                         you on the first day you report for work.

 

		5)	You
                                         may be required to undergo a background check, including a criminal background check,
                                         at any time during your employment, and your employment is contingent upon results satisfactory
                                         to the Company.

 

		6)	Your
                                         employment with the Company is an at-will employment relationship. This means that your
                                         employment is not guaranteed for any specified period of time and you or the Company
                                         may terminate the relationship at any time, with or without notice or cause. The Company
                                         simply asks that you provide reasonable notice of your departure.

 

		7)	You
                                         are the record and beneficial owner of a significant number of shares of the Common Stock
                                         of the Company and you have acknowledged and agreed that (a) the Company intends to file
                                         a registration statement on Form S-1 or other appropriate form with the SEC in order
                                         to register shares of the Company’s common stock for sale and distribution, and
                                         (b) you agree that you will not directly or indirectly, nor direct any person acting
                                         on behalf of or pursuant to any understanding with you, execute any purchases or sales,
                                         including, without limitation, short sales, of any securities of the Company during the
                                         period commencing on the date the Company files a registration statement with the SEC
                                         and ending 180 days after the effective date of such registration statement.

 

		8)	If
                                         your employment relationship with the Company is terminated without cause prior to October
                                         31, 2022, then the Company shall pay you a lump sum of $100,000 in severance, such payment
                                         to be conditioned upon your execution and delivery of a general release and covenant
                                         not to sue the Company containing standard or “market” terms; provided.

 

If
there is anything about the offer of employment that was verbally made to you but is not mentioned in this letter, please contact
me as soon as possible to discuss it. Otherwise, it will be understood that this letter fully encompasses all aspects of our offer
of employment to you and supersedes all prior offers, both verbal and written.

 

    2

     

    

 

Please
indicate your acceptance of this Agreement by signing and dating the enclosed copies of this letter and the Agreement, and returning
them in the enclosed envelope.

 

We
are pleased that you will be working with us. Please do not hesitate to call me if you have any questions.

 

	BIOXYTRAN, INC.	 	 
	 	 	 	 
	 	 	 	 
	By: 	Ola Soderquist, CFO	 	 
	 	 	 	 
	Agreed & Accepted:	 	 
	 	 	 	 
	 	 	 	Date October 5, 2017
	David Platt	 	 

 

    3

     

    

 

 

BIOXYTRAN,
INC.

 

CONFIDENTIALITY
AND DEVELOPMENTS AGREEMENT

 

Effective
June 1st, 2016 (the “Effective Date”) , and in consideration and as a condition of my employment by or service
to Bioxytran, Inc., a Delaware corporation (the “Company”), I hereby agree as follows:

 

1. Confidentiality.

 

(a) I
shall not at any time, whether during or after the termination of my employment, disclose to any person or entity or otherwise
use any Confidential Information (as defined herein) except as may be required in the ordinary course of performing my duties
as an employee of the Company. For purposes of this Agreement, “employment” means my current or subsequent retention
as a full- or part-time employee, contractor, or consultant to the Company, or engagement by the Company in any other capacity,
whether or not I receive compensation from the Company. I shall keep confidential all matters entrusted to me and shall not use
any Confidential Information in any manner that may injure or cause loss or may be calculated to injure or cause loss to the Company,
whether directly or indirectly.

 

(b) The
term “Confidential Information” shall include any information concerning Developments (as defined herein) and all other
business, technical and financial information of the Company or of any third party, including, without limitation, products, customer
lists, customer information, employee information, pricing information, business plans, projects, plans and proposals, that is
disclosed to or learned by me during the course of my employment by or service to the Company. The term “Confidential Information”
shall not include any information that is or becomes readily publicly available without restriction through no fault of mine.

 

(c) I
acknowledge and agree that all Company Property is and shall remain the sole and exclusive property of the Company. Immediately
upon the termination of my employment, or sooner upon the request of the Company, I shall deliver the originals and all copies
of Company Property in my possession, custody or control to the Company. I further agree that I shall not, during the period of
my employment and after the termination of my employment, use or permit unauthorized employees or non-employees to use any Company
Property. The term “Company Property” shall include: (i) all materials containing or embodying Confidential Information;
(ii) all notes, memoranda, reports, lists, records, drawings, sketches, specifications, software programs, software code, data,
documentation or other materials of any nature and in any form, whether written, printed, electronic or in digital format or otherwise
relating to any matter within the scope of the business of the Company or concerning any of its dealings or affairs; (iii) all
computers, cellular telephones, credit and/or calling cards, keys, and access cards issued to me, or otherwise paid for, by the
Company; and (iv) any other property of the Company in my possession, custody or control.

 

     

     

    

 

2. Assignment
of Developments.

 

(a) If:
(i) at any time or times during my employment, I shall (either alone or with others) make, conceive, create, discover, invent
or reduce to practice (in whole or in part) any Development (as defined herein) that (A) relates to the actual, conceived, anticipated
or proposed business, research or development of the Company or any customer of or supplier to the Company or any of the products
or services being developed, manufactured or sold by the Company or which may be used in relation therewith; or (B) results from
tasks assigned to me by the Company; or (C) results from the use of premises or personal property (whether tangible or intangible)
owned, leased or contracted for by the Company (including any Confidential Information) ; or (ii) at any time or times prior to
my employment I (either alone or with others) made, conceived, created, discovered, invented, or reduced to practice (in whole
or in part) any such Development, then all right, title and interest relating to all such Developments (including Developments
under subsection (i) and (ii) of this Section 2(a)) are and shall immediately become the sole and absolute property of the Company
and its assigns, as works made for hire or otherwise. I hereby assign and agree to assign all right, title and interest (including,
but not limited to, rights to inventions, patentable subject matter, mask work rights, copyrights, trade secrets and trademarks)
in such Developments (including all intellectual property rights embodied therein) and all benefits and/or rights resulting therefrom
to the Company and its assigns without further compensation and shall communicate, without cost or delay, and without disclosing
to others the same, all available information relating thereto (with all necessary plans and models) to the Company. I shall promptly
disclose to the Company (or any persons designated by it) each such Development. If I use or disclose my own or any third party’s
confidential information or intellectual property when acting within the scope of my employment or otherwise on behalf of the
Company, or if any Development assigned hereunder cannot be fully made, conceived or reduced to practice without violating or
infringing any intellectual property rights, the Company will have and I hereby grant the Company a perpetual, irrevocable, worldwide
royalty-free, non-exclusive, sublicensable, transferable right and license to freely exploit all such confidential information,
intellectual property and/or intellectual property rights. I will not use or disclose any of my own or any third party’s confidential
information or intellectual property for which I do not have the right to grant the foregoing license.

 

(b) The
term “Development” shall mean any concept, invention, discovery, design, development, improvement, process, method,
system, algorithm, software program, work of authorship, mask work, documentation, formula, data, technique, know-how, trade secret,
idea, information or intellectual property right whatsoever or any interest therein, whether or not it may be patented, registered
or otherwise protected, including all versions, modifications, enhancements and derivative works thereof. To the extent permitted
under applicable law, Developments include all rights to paternity, integrity, disclosure and withdrawal and any other rights
that may be known or referred to as moral rights, artist’s rights or the like (“Moral Rights”); and to the extent I
retain any Moral Rights under applicable laws I hereby ratify and consent to any action that may be taken with respect to such
Moral Rights by or authorized by the Company and agree not to assert any Moral Rights with respect thereto. I will confirm any
such ratification, consent or agreement from time to time as requested by the Company.

 

(c) I
shall, during my employment and at any time thereafter, at the request and cost of the Company, further assist the Company to
further evidence, record and perfect the licenses and assignments set forth herein, and to perfect, obtain, renew, restore, maintain,
enforce, and defend any rights specified to be so licensed, owned or assigned. I hereby irrevocably designate and appoint the
Company as my agent and attorney-in-fact to act for and in my behalf to execute and file any document and to do all other lawfully
permitted acts to further the purposes of the foregoing with the same legal force and effect as if executed by me.

 

(d) If
I wish to clarify that something created by me prior to my employment that relates to the Company’s actual or proposed business
is not within the scope of this Agreement, I have listed it on Schedule A attached hereto.

 

    2

     

    

 

3. Non-Solicitation,
Etc. I shall not, during the period of my employment with the Company and for one year thereafter, directly or indirectly
solicit, request, encourage, assist or cause (a) any person who is employed by or a consultant to the Company or any affiliate
or subsidiary of the Company either during my period of employment or during such one year period, to terminate such person’s
employment by or consultancy to the Company, such affiliate or subsidiary, or (b) any past, present or prospective customer, supplier,
vendor or other business partner of the Company or any affiliate or subsidiary of the Company to do business with me or any entity
in which I have an interest as an equity owner, officer, director, partner, agent, affiliate, or in any other capacity. As used
herein the term “solicit” shall include, without limitation, requesting, encouraging, assisting or causing, directly
or indirectly, any employee or consultant to terminate such person’s employment by or consultancy to the Company, affiliate or
subsidiary.

 

4. Employment
At Will. I understand that nothing herein shall be construed as constituting an employment agreement or an undertaking by
the Company to retain my services for any stated period of time. Accordingly, I understand that my employment with the Company
is “at will” and that the Company has the right to terminate my employment at any time, for any reason or no reason,
with or without cause. This Agreement does not purport to set forth all of the terms and conditions of my employment, and as an
employee of the Company, I have obligations to the Company which are not described in this Agreement. However, the terms of this
Agreement govern over any such terms that are inconsistent with this Agreement, and supersede the terms of any similar form that
I may have previously signed.

 

5. Conflicts.
During the period of my employment with the Company, I shall neither engage in any business opportunity outside the Company nor
be employed in any organization other than the Company without the approval of a majority of the Company’s Board of Managers.

 

6. Continuing
Obligations. My obligations under this Agreement shall survive and shall not be affected by: (i) any termination of my employment,
including termination upon the Company’s initiative; (ii) any change in my position, title or function with the Company; or (iii)
any interruption in my employment during which I leave and then rejoin the Company within a period of six (6) months. I understand
that the Company shall be entitled to communicate my obligations under this Agreement to any future employer or potential employer
of mine.

 

7. No
Conflicting Agreements. I have not made and agree not to make any agreement, oral or written, that is in conflict with this
Agreement or my employment with the Company. I have no present obligations to assign to any former employer, or to any other person
not affiliated with the Company, any Developments covered by Section 2 hereof. I will not, and will not cause the Company to,
violate any agreement with or rights of any third party or, except as expressly authorized by the Company in writing hereafter,
use or disclose my own or any third party’s confidential information or intellectual property in the course of my employment with
the Company.

 

    3

     

    

 

8. Remedies.
I agree that in the event of any breach by me of any of the provisions of this Agreement, the Company shall be entitled, in addition
to monetary damages and to any other remedies available to the Company under this Agreement and at law, to equitable relief, including
injunctive relief, and to payment by me of all costs incurred by the Company in enforcement against me of the provisions of this
Agreement, including reasonable attorneys’ fees, provided that the Company is successful on the merits of such claim.

 

9. Severability.
If any provision of this Agreement shall be found to be invalid, inoperative or unenforceable in law or equity, such finding shall
not affect the validity of any other provisions of this Agreement, which shall be construed, reformed and enforced to effect the
purposes of this Agreement to the fullest extent permitted by law. If one or more of the provisions contained herein shall for
any reason be held to be excessively broad in scope, activity, subject or otherwise so as to be unenforceable at law, such provision(s)
shall be construed by the appropriate judicial body by limiting or reducing it (or them) so as to be enforceable to the maximum
extent under the applicable law.

 

10. No
Waiver. Waiver of any provision of this Agreement, in whole or in part, in any one instance shall not constitute a waiver
of any other provision in the same instance, nor any waiver of the same provision in another instance, but each provision shall
continue in full force and effect with respect to any other then-existing or subsequent breach. No delay or omission to exercise
any right, power or remedy under this Agreement by the Company upon a breach or default by me shall impair any such right, power
or remedy of the Company, nor shall it be construed to be a waiver of any such breach or default

 

11. Consent
to Jurisdiction. I agree that any suit, action or proceeding instituted against me or the Company under or in connection with
this Agreement shall be brought only in a court of competent jurisdiction of the Commonwealth of Massachusetts or in the U.S.
District Court for the District of Massachusetts. By execution hereof, I irrevocably waive any objection to, and any right of
immunity on the grounds of, improper venue, the convenience of the chosen forum, the personal jurisdiction of such courts or the
execution of judgments resulting therefrom. I irrevocably accept and submit to the exclusive jurisdiction of such courts in any
such action, suit or proceeding. I agree that the delivery of any writ, judgment or other notice of legal process in connection
with any suit, action or proceeding in any of such courts, to me anywhere in the world shall constitute sufficient service thereof
on me.

 

12. Miscellaneous.
I understand that this Agreement: (i) may be executed in any number of counterparts, each of which, when executed by both
parties to the Agreement shall be deemed to be an original, and all of which counterparts together shall constitute one and the
same instrument; (ii) shall be governed by and construed under the law of the Commonwealth of Massachusetts, without application
of principles of conflicts of laws; (iii) shall constitute the entire agreement between the Company and me with respect to the
subject matter hereof, superseding all prior oral and written communications, proposals, negotiations, representations, understandings,
courses of dealing, agreements, contracts, and the like between the Company and me in such respect; (iv) may be amended, modified,
or terminated, and any right under this Agreement may be waived in whole or in part, only by a writing signed by both the Company
and me; (v) contains headings only for convenience, which headings do not form part, and shall not be used in construction, of
this Agreement; (vi) shall be binding upon my heirs, executors, administrators and legal representatives; (viii) may be assigned
by the Company to its successors and assigns, and all covenants and agreements hereunder shall inure to the benefit of and be
enforceable by said successors or assigns.

 

    4

     

    

 

IN
WITNESS WHEREOF, the undersigned has executed this Agreement as a sealed instrument effective as of the Effective Date.

 

	 	 	 

	 	 	Signature
	 	 	 
	 	 	David Platt
	 	 	Address:
    12 Appleton Circle, Newton 02459
	AGREED
                                         AND ACCEPTED TO:
	 	 
	 	 	 
	BIOXYTRAN,
    INC.	 	 
	 	 	 
	By:	 	 	 
	Name 		 	 
	Title:		 	 

 

    5

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