<SEC-DOCUMENT>0001021771-25-000050.txt : 20250219
<SEC-HEADER>0001021771-25-000050.hdr.sgml : 20250219
<ACCEPTANCE-DATETIME>20250219164329
ACCESSION NUMBER:		0001021771-25-000050
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250219
DATE AS OF CHANGE:		20250219

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BioRestorative Therapies, Inc.
		CENTRAL INDEX KEY:			0001505497
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISC HEALTH & ALLIED SERVICES, NEC [8090]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				301341024
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-86699
		FILM NUMBER:		25641088

	BUSINESS ADDRESS:	
		STREET 1:		40 MARCUS DRIVE
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		(631) 760-8100

	MAIL ADDRESS:	
		STREET 1:		40 MARCUS DRIVE
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Stem Cell Assurance, Inc.
		DATE OF NAME CHANGE:	20101110

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Silva Francisco
		CENTRAL INDEX KEY:			0001527241
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		STEM CELL ASSURANCE, INC.
		STREET 2:		555 HERITAGE DRIVE
		CITY:			JUPITER
		STATE:			FL
		ZIP:			33458
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<submissionType>SCHEDULE 13D/A</submissionType>
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<amendmentNo>3</amendmentNo>
<securitiesClassTitle>Common Stock</securitiesClassTitle>
<dateOfEvent>02/14/2025</dateOfEvent>
<previouslyFiledFlag>false</previouslyFiledFlag>
<issuerInfo>
<issuerCIK>0001505497</issuerCIK>
<issuerCUSIP>090655606</issuerCUSIP>
<issuerName>BioRestorative Therapies, Inc.</issuerName>
<address>
<com:street1>40 Marcus Drive</com:street1>
<com:street2>Suite One</com:street2>
<com:city>Melville</com:city>
<com:stateOrCountry>NY</com:stateOrCountry>
<com:zipCode>11747</com:zipCode>
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<authorizedPersons>
<notificationInfo>
<personName>Fred Skolnik, Esq.</personName>
<personPhoneNum>516-296-7048</personPhoneNum>
<personAddress>
<com:street1>90 Merrick Avenue</com:street1>
<com:street2>9th Floor</com:street2>
<com:city>East Meadow</com:city>
<com:stateOrCountry>NY</com:stateOrCountry>
<com:zipCode>11554</com:zipCode>
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<reportingPersonCIK>0001527241</reportingPersonCIK>
<reportingPersonName>Silva, Francisco</reportingPersonName>
<fundType>SC</fundType>
<citizenshipOrOrganization>X1</citizenshipOrOrganization>
<soleVotingPower>1196819</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>1196819</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
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<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>15.1</percentOfClass>
<typeOfReportingPerson>IN</typeOfReportingPerson>
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<item1>
<securityTitle>Common Stock</securityTitle>
<issuerName>BioRestorative Therapies, Inc.</issuerName>
<issuerPrincipalAddress>
<com:street1>40 Marcus Drive</com:street1>
<com:street2>Suite One</com:street2>
<com:city>Melville</com:city>
<com:stateOrCountry>NY</com:stateOrCountry>
<com:zipCode>11747</com:zipCode>
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<item2>
<filingPersonName>Francisco Silva</filingPersonName>
<principalBusinessAddress>40 Marcus Drive, Suite One, Melville, New York 11747</principalBusinessAddress>
<principalJob>The Reporting Person is employed as Vice President, Research and Development.</principalJob>
<hasBeenConvicted>The Reporting Person has not been convicted in a criminal proceeding in the last five years.</hasBeenConvicted>
<convictionDescription>The Reporting Person has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</convictionDescription>
<citizenship>The Reporting Person is a citizen of the United States of America.</citizenship>
</item2>
<item3>
<fundsSource>N/A</fundsSource>
</item3>
<item4>
<transactionPurpose>On February 14, 2025, the Company granted to the Reporting Person a ten year option for the purchase of 768,979 shares of Common Stock of the Company at an exercise price of $2.46 per share.  The option is exercisable to the extent of (a) 384,490 shares effective as of the date of grant, and (b) 384,489 shares in eight nearly equal quarterly installments commencing one year from the date of grant.&#13;
&#13;
Reference is made to the Incentive Stock Option Award Agreement attached hereto as Exhibit (1) for a complete description of the option granted to the Reporting Person.</transactionPurpose>
</item4>
<item5>
<percentageOfClassSecurities>As of the date hereof, the Reporting Person is the beneficial owner of 1,196,819 shares of Common Stock of the Company (or approximately 15.1% of the outstanding Common Stock of the Company based upon there being 6,919,919 shares of Common Stock of the Company outstanding as of February 14, 2025, based upon the number of shares of Common Stock outstanding as of November 12, 2024, as set forth in the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2024, filed with the Securities and Exchange Commission on November 12, 2024). Of such number, 1,028,924 shares of Common Stock are issuable upon the exercise of options that are exercisable currently or within 60 days.</percentageOfClassSecurities>
<numberOfShares>The Reporting Person has sole voting and dispositive power over the 1,196,819 shares beneficially owned.</numberOfShares>
<transactionDesc>During the past 60 days, the Reporting Person has not effected any transactions in the Common Stock of the Company, except as reported in Item 4 hereof.</transactionDesc>
</item5>
<item6>
<contractDescription>See Item 5 hereof with respect to options held by the Reporting Person.</contractDescription>
</item6>
<item7>
<filedExhibits>(1) Incentive Stock Option Award Agreement, dated as of February 14, 2025, between the Company and the Reporting Person.</filedExhibits>
</item7>
</items1To7>
<signatureInfo>
<signaturePerson>
<signatureReportingPerson>Silva, Francisco</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Francisco Silva</signature>
<title>Silva, Francisco</title>
<date>02/18/2025</date>
</signatureDetails>
</signaturePerson>
</signatureInfo>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.htm
<DESCRIPTION>INCENTIVE STOCK OPTION AWARD AGREEMENT
<TEXT>
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    <div style="text-align: center; margin-right: 0.9pt; margin-top: 0.4pt; font-weight: bold;">INCENTIVE STOCK OPTION AWARD AGREEMENT<br>
      UNDER THE<br>
      BIORESTORATIVE THERAPIES, INC.<br>
      2021 STOCK INCENTIVE PLAN</div>
    <div style="margin-top: 0.4pt;"><br>
       </div>
    <div style="text-align: justify; margin-right: 0.9pt; margin-top: 13.95pt;">This Incentive Stock Option Award Agreement (this &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is made and entered into as of February 14, 2025 by and
      between BioRestorative Therapies, Inc., a Nevada corporation (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), and Francisco Silva (the &#8220;<font style="font-weight: bold;">Participant</font>&#8221;).</div>
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              <div>&#160;<font style="font-weight: bold;">Grant Date:</font></div>
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              <div>&#160;February 14, 2025</div>
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              <div>&#160;<font style="font-weight: bold;">Exercise Price per Share:</font></div>
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              <div>&#160;$2.46</div>
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              <div>&#160;<font style="font-weight: bold;">Number of Option Shares:</font></div>
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              <div>&#160;768,979</div>
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              <div>&#160;<font style="font-weight: bold;">Expiration Date:</font></div>
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              <div>&#160;February 14, 2035</div>
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    <div style="margin-right: 0.9pt; margin-top: 3.05pt;">1.<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Grant of Option</font>.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-top: 12.2pt;">1.1.<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Grant; Type of Option</font>. The Company hereby grants to the Participant an option (the &#8220;<font style="font-weight: bold;">Option</font>&#8221;) to purchase the number of Shares of Common Stock
        of the Company equal to the number of Option Shares set forth above. The Option is being granted pursuant to the terms of the BioRestorative Therapies, Inc. 2021 Stock Incentive Plan (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;). The Option
        is intended to be an Incentive Stock Option within the meaning of Section 422 of the Code to the maximum extent permitted by Applicable Law, although the Company makes no representation or guarantee that the Option will qualify as an Incentive
        Stock Option.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.2pt;">1.2.<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Consideration; Subject to Plan</font>. The grant of the Option is made in consideration of the services to be rendered by the Participant to the Company and is subject to the terms and
        conditions of the Plan. Capitalized terms used but not otherwise defined herein have the meanings given to them in the Plan.</div>
    <div style="margin-top: 11.9pt;"><font style="font-weight: bold;">2.</font><font style="display: inline-block; text-indent: 0px; width: 39.6pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Exercise Period; Vesting</font>.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.2pt;">2.1<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Vesting Schedule</font>. The Option will become vested and exercisable with respect to 50% of the Option Shares on the Grant Date, with the remainder vesting quarterly in eight nearly equal
        installments (at a rate of 1/16 per quarter) with the first quarterly installment vesting on the one-year anniversary of the Grant Date and continuing every three months thereafter until fully vested.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 11.8pt;">In the event of the Participant&#8217;s involuntary Termination of Service by the Company without Cause, 100% of the Shares subject to the Option
      shall become immediately vested and exercisable. Upon the Participant&#8217;s Termination of Service for any other reason, the unvested portion of the Option will be forfeited and will not be exercisable.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 11.9pt;">2.2<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Expiration</font>. The Option will expire on the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan. The Expiration Date shall not be more than ten years
        from the Grant Date (or, if the Option is being granted to a Greater Than 10% Stockholder, not more than five years from the Grant Date). To the extent the Expiration Date listed above is inconsistent with this paragraph, this paragraph shall
        control.</div>
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    <div style="text-indent: 36pt; margin-right: 0.9pt; margin-top: 0.55pt;">2.3<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>The Option shall not be subject to Section 9.6(a) of the Plan.</div>
    <div style="margin-top: 12.05pt;"><font style="font-weight: bold;">3.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Termination of Service</font>.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.35pt;">3.1<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Termination for Reasons Other Than Cause, Death, Disability</font>. If the Participant has a Termination of Service for any reason other than Cause, death or Disability, the Participant may
        exercise the vested portion of the Option at any time until the Expiration Date.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.05pt;">3.2<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Termination for Cause</font>. If the Participant has a Termination of Service for Cause, the Participant may exercise the vested portion of the Option, but only within such period of time
        ending on the earlier of: (a) the date 12 months following the Participant&#8217;s Termination of Service or (b) the Expiration Date.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.05pt;">3.3<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Termination due to Disability</font>. If the Participant has a Termination of Service as a result of the Participant&#8217;s Disability, the Participant may exercise the vested portion of the
        Option, but only within such period of time ending on the earlier of: (a) the date 24 months following the Participant&#8217;s Termination of Service or (b) the Expiration Date.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.05pt;">3.4<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Termination due to Death</font>. If the Participant has a Termination of Service as a result of the Participant&#8217;s death, the vested portion of the Option may be exercised by the
        Participant&#8217;s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by the person designated to exercise the Option upon the Participant&#8217;s death, but only within the time period ending on the earlier of: (a)
        the date 24 months following the Participant&#8217;s Termination of Service, or (b) the Expiration Date.</div>
    <div style="margin-top: 12.05pt;"><font style="font-weight: bold;">4.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Manner of Exercise</font>.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.35pt;">4.1<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Election to Exercise</font>. To exercise the Option, the Participant (or in the case of exercise after the Participant&#8217;s death or incapacity, the Participant&#8217;s executor, administrator, heir
        or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in such form as is approved by the Committee from time to time (the &#8220;<font style="font-weight: bold;">Exercise Agreement</font>&#8221;), which shall
        set forth, inter alia:</div>
    <div style="margin-top: 12.05pt; text-indent: 72pt;">(a)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>the
        Participant&#8217;s election to exercise the Option;</div>
    <div style="margin-top: 12.35pt; text-indent: 72pt;">(b)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>the
        number of Shares of Common Stock being purchased;</div>
    <div style="margin-top: 12.05pt; text-indent: 72pt;">(c)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>any
        restrictions imposed on the Shares; and</div>
    <div style="margin-top: 12.15pt; text-indent: 72pt;">(d)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>any
        representations, warranties and agreements regarding the Participant&#8217;s investment intent and access to information as may be required by the Company to comply with applicable securities laws.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 11.85pt;">If someone other than the Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company
      verifying that such person has the legal right to exercise the Option.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.35pt;">4.2<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Payment of Exercise Price</font>. The entire Exercise Price of the Option shall be payable in full at the time of exercise to the extent permitted by applicable statutes and regulations,
        either:</div>
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    <div style="text-indent: 72pt;">(a)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>in cash or by certified or
        bank check at the time the Option is exercised;</div>
    <div style="margin-top: 12.05pt; text-indent: 72pt;">(b)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>by
        delivery to the Company of other Shares of Common Stock, duly endorsed for transfer to the Company, with a Fair Market Value on the date of delivery equal to the Exercise Price (or portion thereof) due for the number of Shares being acquired, or by
        means of attestation whereby the Participant identifies for delivery specific Shares that have a Fair Market Value on the date of attestation equal to the Exercise Price (or portion thereof) and receives a number of Shares equal to the difference
        between the number of Shares thereby purchased and the number of identified attestation Shares (a &#8220;<font style="font-weight: bold;">Stock for Stock Exchange</font>&#8221;);</div>
    <div style="margin-top: 12pt; text-indent: 72pt;">(c)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>through a
        &#8220;cashless exercise program&#8221; established with a broker;</div>
    <div style="margin-top: 12.15pt; text-indent: 72pt;">(d)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>by
        reduction in the number of Shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the aggregate Exercise Price at the time of exercise;</div>
    <div style="margin-top: 12.05pt; text-indent: 72pt;">(e)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>by any
        combination of the foregoing methods; or</div>
    <div style="margin-top: 12.3pt; text-indent: 72pt;">(f)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>in any
        other form of legal consideration that may be acceptable to the Committee.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.35pt;">4.3<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Withholding</font>. Prior to the issuance of Shares upon the exercise of the Option, the Participant must make arrangements satisfactory to the Company to pay or provide for any applicable
        federal, state and local withholding obligations of the Company. The Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise of the Option by any of the following means:</div>
    <div style="margin-top: 12.05pt; text-indent: 72pt;">(a)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>tendering
        a cash payment;</div>
    <div style="margin-top: 12.2pt; text-indent: 72pt;">(b)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>authorizing
        the Company to withhold Shares of Common Stock from the Shares of Common Stock otherwise issuable to the Participant as a result of the exercise of the Option; provided, however, that no Shares of Common Stock are withheld with a value exceeding
        the maximum amount of tax required to be withheld by law; or</div>
    <div style="margin-top: 12.3pt; text-indent: 72pt;">(c)<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font>delivering
        to the Company previously owned and unencumbered Shares of Common Stock.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.3pt;">The Company has the right to withhold from any compensation paid to the Participant.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 12.35pt;">4.4<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Issuance of Shares</font>. Provided that the Exercise Agreement and payment are in form and substance satisfactory to the Company, the Company shall issue the Shares of Common Stock
        registered in the name of the Participant, the Participant&#8217;s authorized assignee, or the Participant&#8217;s legal representative which shall be evidenced by stock certificates representing the Shares with the appropriate legends affixed thereto,
        appropriate entry on the books of the Company or of a duly authorized transfer agent, or other appropriate means as determined by the Company.</div>
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        of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant&#8217;s employment or service with the Company at any time, with or without Cause. The Participant shall
        not have any rights as a shareholder with respect to any Shares of Common Stock subject to the Option unless and until certificates representing the Shares have been issued by the Company to the holder of such Shares, or the Shares have otherwise
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    <div style="margin-top: 11.85pt;"><font style="font-weight: bold;">6.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Transferability</font>. The Option is only transferable by will or the laws of descent and distribution or in accordance with the limited conditions set forth in Section 9.3(b) of the Plan. No assignment or transfer of
        the Option, or the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise (except to a designated beneficiary, upon death, by will or the laws of descent or distribution or pursuant to Section 9.3(b) of the
        Plan) will vest in the assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Option will terminate and become of no further effect.</div>
    <div style="margin-top: 13.85pt;"><font style="font-weight: bold;">7.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Change in Control</font>.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 3.6pt; margin-top: 12pt;">7.1<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Acceleration of Vesting</font>. Notwithstanding any provision of the Plan or this Agreement to the contrary, in the event of a Change in Control prior to the date that the Option is fully
        vested and exercisable, the Option shall become immediately vested and exercisable with respect to 100% of the Shares in each remaining vesting tranche. To the extent practicable, such acceleration of vesting and exercisability shall occur in a
        manner and at a time which allows the Participant the ability to participate in the Change in Control with respect to the Shares of Common Stock received.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.9pt; margin-top: 13.85pt;">7.2<font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Cash-Out</font>. In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days&#8217; advance notice to the Participant, cancel the Option and pay to
        the Participant the value of the Option based upon the price per Share of Common Stock received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if at the time of a Change in Control the Exercise
        Price of the Option equals or exceeds the price paid for a Share of Common Stock in connection with the Change in Control, the Committee may cancel the Option without the payment of consideration therefor.</div>
    <div style="margin-top: 12pt;"><font style="font-weight: bold;">8.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Adjustments</font>. The Shares of Common Stock subject to the Option may be adjusted or terminated in any manner as contemplated by the Plan.</div>
    <div style="margin-top: 11.65pt;"><font style="font-weight: bold;">9.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Tax Liability and Withholding</font>. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (&#8220;<font style="font-weight: bold;">Tax-Related Items</font>&#8221;), the ultimate liability for all Tax-Related Items is and remains the Participant&#8217;s responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in
        connection with the grant, vesting, or exercise of the Option or the subsequent sale of any Shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant&#8217;s liability for Tax-Related Items.</div>
    <div style="margin-top: 13.65pt;"><font style="font-weight: bold;">10.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Qualification as an Incentive Stock Option</font>. It is understood that this Option is intended to qualify as an incentive stock option as defined in Section 422 of the Code to the extent permitted under Applicable
        Law. Accordingly, the Participant understands that in order to obtain the benefits of an incentive stock option, no sale or other disposition may be made of Shares for which incentive stock option treatment is desired within one (1) year following
        the date of exercise of the Option or within two (2) years from the Grant Date. The Participant understands and agrees that the Company shall not be liable or responsible for any additional tax liability the Participant incurs in the event that the
        Internal Revenue Service for any reason<font style="font-weight: bold;">&#160;</font>determines that this Option does not qualify as an incentive stock option within the meaning of the Code.</div>
    <div style="margin-top: 13.45pt;"><font style="font-weight: bold;">11.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Disqualifying Disposition</font>. If the Participant disposes of the Shares of Common Stock prior to the expiration of either two (2) years from the Grant Date or one (1) year from the date the Shares are transferred to
        the Participant pursuant to the exercise of the Option (a &#8220;<font style="font-weight: bold;">Disqualifying Disposition</font>&#8221;), the Participant shall notify the Company in writing within thirty (30) days after such disposition of the date and terms
        of such disposition. The Participant also agrees to provide the Company with any information concerning any such dispositions as the Company requires for tax purposes.</div>
    <div style="margin-top: 13.8pt;"><font style="font-weight: bold;">12.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Compliance with Law</font>. The exercise of the Option and the issuance and transfer of Shares of Common Stock shall be subject to compliance by the Company and the Participant with all applicable requirements of
        federal and state securities laws and with all applicable requirements of any stock exchange on which the Company&#8217;s Shares of Common Stock may be listed. No Shares of Common Stock shall be issued pursuant to this Option unless and until any then
        applicable requirements of state or federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no obligation to register the Shares
        with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.</div>
    <div style="margin-top: 13.95pt;"><font style="font-weight: bold;">13.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Notices</font>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company&#8217;s principal corporate offices. Any notice required
        to be delivered to the Participant under this Agreement shall be in writing and addressed to the Participant at the Participant&#8217;s address as shown in the records of the Company. Either party may designate another address in writing (or by such
        other method approved by the Company) from time to time.</div>
    <div style="margin-top: 13.65pt;"><font style="font-weight: bold;">14.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Governing Law</font>. This Agreement will be construed and interpreted in accordance with the laws of the State of Nevada without regard to conflict of law principles.</div>
    <div style="margin-top: 13.8pt;"><font style="font-weight: bold;">15.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Interpretation</font>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee for review. The resolution of such dispute by the Committee shall
        be final and binding on the Participant and the Company.</div>
    <div style="margin-top: 13.95pt;"><font style="font-weight: bold;">16.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Options Subject to Plan</font>. This Agreement is subject to the Plan as approved by the Company&#8217;s shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein
        by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.</div>
    <div style="margin-top: 13.65pt;"><font style="font-weight: bold;">17.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Successors and Assigns</font>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the
        restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant&#8217;s beneficiaries, executors, administrators and the person(s) to whom this Agreement may be transferred by will or the laws of descent
        or distribution.</div>
    <div style="margin-top: 13.65pt;"><font style="font-weight: bold;">18.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Severability</font>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each
        provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.</div>
    <div style="margin-top: 13.95pt;"><font style="font-weight: bold;">19.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Discretionary Nature of Plan</font>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement does not create any
        contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or
        impairment of the terms and conditions of the Participant&#8217;s employment with the Company.</div>
    <div style="margin-top: 13.85pt;"><font style="font-weight: bold;">20.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Amendment</font>. The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided, that, no such amendment shall adversely affect the Participant&#8217;s
        material rights under this Agreement without the Participant&#8217;s consent.</div>
    <div style="margin-top: 13.8pt;"><font style="font-weight: bold;">21.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">No Impact on Other Benefits</font>. The value of the Participant&#8217;s Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar
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    <div style="margin-top: 13.95pt;"><font style="font-weight: bold;">22.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Counterparts</font>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this
        Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as
        physical delivery of the paper document bearing an original signature.</div>
    <div style="margin-top: 13.95pt;"><font style="font-weight: bold;">23.</font><font style="display: inline-block; text-indent: 0px; width: 36pt;" class="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Acceptance</font>. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts the Option subject to all
        of the terms and conditions of the Plan and this Agreement. The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying Shares and that the Participant should consult a tax
        advisor prior to such exercise or disposition.</div>
    <div style="text-align: center; margin-right: 0.9pt; margin-top: 27.95pt; margin-bottom: 186.7pt;">***<font style="font-style: italic;">Signature Page to Follow***</font></div>
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    <div style="text-align: center; margin-right: 0.9pt; margin-top: 0.55pt; margin-bottom: 27.35pt;">***<font style="font-style: italic;">Signature Page to Incentive Stock Option Agreement***</font></div>
    <div style="text-align: justify; margin-right: 0.9pt;">IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.</div>
    <div><br>
       </div>
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          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" colspan="2" style="width: 38%;"><strong>BIORESTORATIVE THERAPIES, INC.<br>
              </strong></td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" align="left" style="width: 50%; padding-bottom: 2px;">
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                 </div>
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              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;">By: </div>
            </td>
            <td valign="top" nowrap="nowrap" align="left" style="width: 35%; border-bottom: #000000 2px solid">/s/ Robert Kristal<br>
               </td>
            <td valign="top" style="width: 12%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" align="left" style="width: 35%;">Robert Kristal<br>
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            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">CFO<br>
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            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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        <tr>
          <td valign="top" style="width: 50%;">&#160;</td>
          <td valign="top" style="width: 38%;"><strong>PARTICIPANT:</strong></td>
          <td valign="top" style="width: 12%;">&#160;</td>
        </tr>
        <tr>
          <td valign="top" style="width: 50%;">&#160;</td>
          <td valign="top" style="width: 38%;">&#160;</td>
          <td valign="top" style="width: 12%;">&#160;</td>
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          <td valign="top" align="left" style="width: 50%; padding-bottom: 2px;">
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        </tr>
        <tr>
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        </tr>
        <tr>
          <td valign="top" style="width: 50%;">&#160;</td>
          <td valign="top" style="width: 38%;"><br>
             </td>
          <td valign="top" style="width: 12%;">&#160;</td>
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        <tr>
          <td valign="top" style="width: 50%;">&#160;</td>
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          <td valign="top" style="width: 12%;">&#160;</td>
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