SEC Contract Filing

Filing Date: 2019-03-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>bicx_ex101.htm
<DESCRIPTION>FORM OF DIRECTOR AGREEMENT
<TEXT>
<html><head><title>bicx_ex101.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.1</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px" align="center"><b>DIRECTOR AGREEMENT</b></p> <p style="MARGIN: 0px" align="center">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">This DIRECTOR AGREEMENT is entered into as of March 1, 2019 (the &#8220;<u>Agreement</u>&#8221;), by and between BioCorRx Inc., a Nevada corporation (the &#8220;<u>Company</u>&#8221;), and _________, an individual with an address of ________________________________________ (the &#8220;<u>Director</u>&#8221;). </p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, the Company desires to continue with the services of the Director and Chairman of the Board, and desires to enter into an agreement with the Director with respect to such appointment; and</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">WHEREAS, the Director is willing to continue to serve the Company on the terms set forth herein and in accordance with the provisions of this Agreement.</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows: </p> <p style="MARGIN: 0px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">1. <u>Position</u>. Subject to the terms and provisions of this Agreement, the Company shall cause the Director to be appointed, and the Director hereby agrees to serve the Company in such position, upon the terms and conditions hereinafter set forth, <u>provided</u>, <u>however</u>, that the Director&#8217;s continued service on the Board of Directors of the Company (the &#8220;<u>Board</u>&#8221;) after the next annual stockholders&#8217; meeting shall be subject to approval by the Company&#8217;s stockholders.</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">2. <u>Duties</u>. </p> <p style="MARGIN: 0px 0px 0px 0.5in">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">(a) During the Directorship Term (as defined herein), the Director shall make reasonable business efforts to attend all Board meetings, serve on appropriate subcommittees as reasonably requested by the Board, make himself available to the Company at mutually convenient times and places, attend external meetings and presentations, as appropriate and convenient, and perform such duties, services and responsibilities, and have the authority commensurate to such position.</p> <p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">(b) The Director will use his best efforts to promote the interests of the Company. The Company recognizes that the Director (i) is or may become a full-time executive employee of another entity and that his responsibilities to such entity must have priority and (ii) sits or may sit on the board of directors of other entities. Notwithstanding the same, the Director will use reasonable business efforts to coordinate his respective commitments so as to fulfill his obligations to the Company and, in any event, will fulfill his legal obligations as a Director. Other than as set forth above, the Director will not, without the prior notification to the Board, engage in any other business activity which could materially interfere with the performance of his duties, services and responsibilities hereunder or which is in violation of the reasonable policies established from time to time by the Company, <u>provided</u> that the foregoing shall in no way limit his activities on behalf of (i) any current employer and its affiliates or (ii) the board of directors of any entities on which he currently sits. At such time as the Board receives such notification, the Board may require the resignation of the Director if it determines that such business activity does in fact materially interfere with the performance of the Director&#8217;s duties, services and responsibilities hereunder.</p> <p style="MARGIN: 0px" align="justify">&nbsp;</p> <p style="MARGIN: 0px" align="justify"> <table id="pagebreak25aa5837-c3dc-4df7-af52-0db28ec3a29e" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td class="hpbhr">&nbsp;</td></tr> <tr> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">1</td></tr> <tr> <td> <div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr> <tr> <td>&nbsp;</td></tr></table></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">3. <u>Compensation</u>.</p> <p style="MARGIN: 0px 0px 0px 0.5in" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">(a) The Director shall receive a quarterly cash stipend of Fifteen Thousand Dollars ($15,000). For so long as the Director serves as the chair of either the Audit Committee of the Board, the Compensation Committee of the Board or the Nominating Committee of the Board the amount of such quarterly cash stipend may be increased from time to time. </p> <p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">(b) Common Stock. The Director shall be issued, upon the last day of each fiscal quarter, commencing in the quarter in which the Director enters in