SEC Contract Filing

Filing Date: 2015-07-02

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>bicx_ex101.htm
<DESCRIPTION>SUBLICENSE RELEASE AGREEMENT
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<p style="text-align: right;"><strong>EXHIBIT 10.1</strong></p>
<p style="margin: 0px;" align="center"><b>SUBLICENSE RELEASE AGREEMENT</b></p>
<p style="margin: 0px;">&#160;</p>
<p style="margin: 0px; text-indent: 60px;">This CONFIDENTIAL SUBLICENSE RELEASE AGREEMENT (this &#8220;Agreement&#8221;) pursuant to California Evidence Code &#167;&#167; 1152, 1154 is entered into on this 30th day of June 2015 (the &#8220;Effective Date&#8221;) by and among BioCorRx, Inc. (&#8220;BIOCORRX&#8221;), Trinity Rx Solutions, Inc. (&#8220;TRINITY&#8221;) and Sobriety and Addiction Solutions, LLC (&#8220;SAS&#8221;) (collectively, the &#8220;parties&#8221; and individually, a &#8220;party&#8221;).&#160;</p>
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<p style="margin: 0px; text-indent: 60px;">WHEREAS, the principals of BIOCORRX and SAS have worked together for several years in varying capacities in the treatment of substance abuse; and</p>
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<p style="margin: 0px; text-indent: 60px;">WHEREAS, BIOCORRX, TRINITY and SAS are parties to three (3) sublicense agreements, dated May 13, 2014, May 15, 2014 and June 25, 2014, respectively (collectively, the &#8220;Sublicense Agreements&#8221;), and BIOCORRX&#8217;s and SAS&#8217;s predecessors in interest, Fresh Start Private Management, Inc. and Fresh Start NoCal, LLC, respectively, were parties to a license and distribution agreement dated August 2, 2013 (the &#8220;Distribution Agreement&#8221;), which was superseded by the parties&#8217; May 15, 2014 sublicense agreement; and</p>
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<p style="margin: 0px; text-indent: 60px;">WHEREAS TRINITY acknowledged the granting of the sublicenses to SAS by BIOCORRX; and</p>
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<p style="margin: 0px; text-indent: 60px;">WHEREAS SAS and its &#8220;affiliate&#8221; (as defined herein by 17 CFR 230.405) company, MyLife Recovery Centers, Inc., a Delaware corporation, also operate under the name &#8220;MyLife.&#8221; Whenever &#8220;SAS&#8221; is presented herein it is understood, acknowledged and for all purposes agreed to by SAS that SAS shall also refer to &#8220;MyLife&#8221; and that all representations, affirmations and acceptance of terms and obligations by SAS shall also be equally binding upon MyLife;</p>
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<p style="margin: 0px; text-indent: 60px;">WHEREAS, BIOCORRX and SAS mutually desire to enter into this Agreement to reimburse, in part, previously paid licensing fees and to allow BIOCORRX and SAS to proceed independently on the terms and conditions set forth herein.</p>
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<p style="margin: 0px; text-indent: 60px;">NOW, THEREFORE, in consideration of the following representations, warranties, covenants and agreements and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:</p>
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<p style="margin: 0px; text-indent: 60px;">1. <u style="line-height: 1;">Execution Of All Necessary Agreements</u>.&#160; Each of BIOCORRX, TRINITY and SAS shall execute this Agreement.</p>
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<p style="margin: 0px; text-indent: 60px;">2. <u style="line-height: 1;">Payment Schedule Options</u>.&#160;</p>
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<p style="margin: 0px; text-indent: 60px;">3. <u style="line-height: 1;">Termination Of Sublicense Agreements</u>.&#160; The Sublicense Agreements between BIOCORRX, TRINITY and SAS are hereby terminated.&#160; However, as set forth in the Sublicense Agreements, section 11 of the Sublicense Agreements shall survive the termination of the Sublicense Agreements and is not released or waived under this Agreement. &#160;Section 10 of the Sublicense Agreements shall survive termination of the Sublicense Agreements only to the extent that SAS agrees to keep confidential and not to disclose, use, copy, modify, or reverse engineer the formula for BIOCORRX and TRINITY&#8217;s Naltrexone implant as set forth in Section 10 of the Sublicense Agreements. For clarification, changing the delivery system shall be deemed by all parties herein as an indisputable innovation and not merely a modification. FURTHERMORE, it is acknowledged that all parties remain free to develop new formulas and products so long as doing so does not require employing intellectual property rights including but not limited to, trade secrets and/or patent(s) belonging to the other party. Section 10 of the Sublicense Agreements is otherwise hereby terminated.&#160; All other sections of the Sublicense Agreements, including but not limited to section 4, shall not survive termination.</p>
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<p style="margin: 0px; text-indent: 60px;">4. <u style="line-height: 1;">Operation In All Territories</u>.&#160; BIOCORRX, TRINITY and SAS agree that BIOCORRX and SAS shall equally be allowed and able to operate in all territories including but not limited to those previously g