Document:

Exhibit
10.61

 

THIS
PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND NOT FOR DISTRIBUTION AND MAY BE TRANSFERRED OR OTHERWISE DISPOSED
OF ONLY IN COMPLIANCE WITH THE SECURITIES ACT OF l933, AS AMENDED (THE “ACT”). 

 

BIORESTORATIVE
THERAPIES, INC.

 

June
30, 2016

 

PROMISSORY
NOTE

 

DUE
July 1, 2017

 

BIORESTORATIVE THERAPIES, INC., a Delaware
corporation (the “Company”), for value received, hereby promises to pay to TUXIS TRUST, (the “Holder”)
on July 1, 2017 (the “Maturity Date’) at the offices of the Company, 40 Marcus Drive, Suite One, Melville, New York,
11747, the principal sum of FIVE HUNDRED THOUSAND ($500,000) in such coin or currency of the United States of America as
at the time of payment shall be legal tender for the payment of public and private debts and to pay interest on said principal
sum at the rate of ten percent (10%) per annum through the Maturity Date. Interest on the principal balance of this Promissory
Note (“Note”) from the date hereof shall be payable on the Maturity Date.

 

1.
Registered Owner. The Company may consider and treat the person in whose name this Note shall be registered as the
absolute owner thereof for all purposes whatsoever (whether or not this Note shall be overdue) and the Company shall not be affected
by any notice to the contrary. Subject to the provisions hereof, the registered owner of this Note shall have the right to transfer
it by assignment and the transferee thereof, upon its registration as owner of this Note, shall become vested with all the powers
and rights of the transferor. Registration of any new owner shall take place upon presentation of this Note to the Company at
its offices together with the Note Assignment Form attached hereto duly executed. In case of transfers by operation of law, the
transferee shall notify the Company of such transfer and of its address, and shall submit appropriate evidence regarding the transfer
so that this Note may be registered in the name of the transferee. This Note is transferable only on the books of the Company
by the Holder on the surrender hereof, duly endorsed. Communications sent to any registered owner shall be effective as against
all holders or transferees of this Note not registered at the time of sending the communication.

 

2.
Prepayment Right. The Company may, at its option, at any time and from time to time, prepay all or any part of the
principal balance of this Note, without penalty or premium, provided that, concurrently with each such prepayment, the Company
shall pay accrued and unpaid interest on the principal so prepaid to the date of such prepayment.

 

3.
Prepayment Obligation. (a) In the event that, prior to the Maturity Date, the Company receives net proceeds of ten
million dollars ($10,000,000) from a single equity or debt financing (as opposed to a series of related or unrelated financings),
the Holder shall have the right, upon written notice to the Company, to demand that the principal amount of this Note, together
with accrued interest thereon, be forthwith due and payable whereupon the same shall become forthwith due and payable.

 

    	 

    	 

    

 

(b)
Notwithstanding the provisions of paragraph (a) hereof, the Company’s obligation to pay the amounts provided for therein
shall be subject to the written consent of the person or entity, or group of persons and/or entities, that provided the particular
financing.

 

4.
Events of Default. If the Company shall (a) fail to make any payment due hereunder and such failure shall continue
unremedied for a period of fifteen (15) days following receipt of written notice thereof from the Holder; (b) admit in writing
its inability to pay its debts generally as they mature; (c) make a general assignment for the benefit of creditors; (d) be adjudicated
a bankrupt or insolvent; (e) file a voluntary petition in bankruptcy or a petition or an answer seeking an arrangement with creditors;
(f) take advantage of any bankruptcy, insolvency or readjustment of debt law or statute or file an answer admitting the material
allegations of a petition filed against it in any proceeding under any such law; (g) apply for or consent to the appointment of
a receiver, trustee or liquidator for all or substantially all of its assets; or (h) have an involuntary case commenced against
it under the Federal bankruptcy laws, which case is not dismissed or stayed within sixty (60) days (each an “Event of Default”),
then, at any time thereafter and unless such Event of Default shall have been cured or shall have been waived in writing by the
Holder, the Holder may, by written notice to the Company, declare the entire unpaid principal amount of this Note then outstanding,
together with accrued interest thereon, to be forthwith due and payable, whereupon the same shall become forthwith due and payable.

 

5.
Investment Intent. The Holder, by its acceptance hereof, hereby represents and warrants that this Note is being
acquired for investment purposes only and without a view to the distribution thereof, and may be transferred only in compliance
with the Act.

 

6.
Transfer to Comply with the Securities Act of l933. This Note may not be sold or otherwise disposed of except as
follows: (a) to a person or entity to whom this Note may legally be transferred without registration and without the delivery
of a current prospectus under the Act with respect thereto; or (b) to any person or entity upon delivery of a prospectus then
meeting the requirements of the Act relating to such securities and the offering thereof for such sale or disposition, and thereafter
to all successive assignees.

 

7.
Applicable Law. This Note is issued under and shall for all purposes be governed by and construed in accordance
with the laws of the State of New York, excluding choice of law rules thereof.

 

8.
Notices. Any notice required or permitted to be given pursuant to this Note shall be deemed to have been duly given
when delivered by hand or sent by certified or registered mail, return receipt requested and postage prepaid, overnight mail or
courier or telecopier as follows:

 

	If
    to the Holder:
	 
	26
    Deer Creek Lane
	Mt.
    Kisco, NY 10549
	Facsimile
    No.: 
	 
	If
    to the Company:
	 
	40
    Marcus Drive

 

    	2 

    	 	 	 

    

 

	Suite
    One
	Melville,
    New York 11747
	Attn:
    Chief Executive Officer
	Facsimile
    No.: (631) 760-8414
	 
	With
    a copy to:
	 
	Certilman
    Balin Adler & Hyman, LLP
	90
    Merrick Avenue
	East
    Meadow, New York 11554
	Attn:
    Fred Skolnik, Esq.
	Facsimile
    No.: (516) 296-7111

 

or
at such other address as the Holder or the Company shall designate by notice to the other given in accordance with this Section
8.

 

9.
Miscellaneous. This Note evidences the entire obligation of the Company with respect to the repayment of the principal
amount hereof and the other matters provided for herein. No provision of this Note may be modified except by an instrument in
writing signed by the Company and the Holder. Payment of principal and interest due under this Note prior to the Maturity Date
shall be made to the registered Holder of this Note. Payment of principal and interest due upon maturity shall be made to the
registered Holder of this Note on or after the Maturity Date contemporaneous with and upon presentation of this Note for payment.
No interest shall be due on this Note for such period of time that may elapse between the Maturity Date and its presentation for
payment.

 

    	3 

    	 	 	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be signed on its behalf, in its corporate name, by its duly authorized
officer, all as of the day and year first above written.

 

	 	BIORESTORATIVE THERAPIES, INC.
	 	 	 
	 	By:	 
	 	 	Mark
    Weinreb, Chief Executive Officer

 

    	 

    	 

    

 

BIORESTORATIVE
THERAPIES, INC.

 

PROMISSORY
NOTE

 

DUE
JULY 1, 2017

 

NOTE
ASSIGNMENT FORM

 

FOR
VALUE RECEIVED 

 

The
undersigned _____________________________ (please print or typewrite name of assignor) hereby sells, assigns and transfers unto

 

(please
print or typewrite name, address and social security or taxpayer identification number, if any, of assignee) the within Promissory
Note of BioRestorative Therapies, Inc., dated June 30, 2016, in the original principal amount of $500,000 and hereby authorizes
the Company to transfer this Note on its books.

 

	If
    the Holder is an individual:	 	If the Holder is not an individual:
	 	 	 	 
	 	 	 
	Name(s)
    of Holder	 	Name of Holder
	 	 	 	 
	 	 	By:	 
	Signature
    of Holder	 	 	Signature
    of Authorized Representative
	 	 	 	 
			 
	Signature,
    if jointly held	 	Name and Title of Authorized 
	 	 	Representative
	 	 	 
	 	 	 
	Date	 	Date

 

 

(Signature(s)
guaranteed)Exhibit
10.62

 

VOID
AFTER 5:00 P.M., EASTERN TIME, ON JUNE 30, 2021

 

NEITHER
THIS WARRANT NOR THE WARRANT STOCK (AS HEREINAFTER DEFINED) HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE. THIS WARRANT AND THE WARRANT STOCK MAY BE TRANSFERRED ONLY IN COMPLIANCE
WITH THE ACT AND SUCH LAWS. THIS LEGEND SHALL BE ENDORSED UPON ANY WARRANT ISSUED IN EXCHANGE FOR THIS WARRANT.

 

 

 

BIORESTORATIVE
THERAPIES, INC.

 

(Incorporated
under the laws of the State of Delaware)

 

Warrant

 

	40,000
    Shares	June
    30, 2016 

 

FOR
VALUE RECEIVED, BIORESTORATIVE THERAPIES, INC., a Delaware corporation (the “Company”), hereby certifies that
TUXIS TRUST_(the “Holder”) is entitled, subject to the provisions of this Warrant, to purchase from the Company
up to FORTY THOUSAND (40,000) SHARES OF COMMON STOCK, $.001 par value per share, of the Company (“Common Shares”)
at a price of FOUR DOLLARS ($4.00) per share (the “Exercise Price”) during the period commencing on the date
hereof and terminating at 5:00 P.M. on the fifth anniversary of the date hereof.

 

The
number of Common Shares to be received upon the exercise of this Warrant may be adjusted from time to time as hereinafter set
forth. The Common Shares deliverable upon such exercise, and as adjusted from time to time, are hereinafter sometimes referred
to as “Warrant Stock.”

 

The
Holder agrees with the Company that this Warrant is issued, and all the rights hereunder shall be held subject to, all of the
conditions, limitations and provisions set forth herein.

 

1.
Exercise of Warrant. This Warrant may be exercised by its presentation and surrender to the Company at 40 Marcus
Drive, Suite One, Melville, New York 11747 (or such office or agency of the Company as it may designate in writing to the Holder
hereof) with the Warrant Exercise Form attached hereto duly executed and accompanied by payment (either in cash or by official
bank check, payable to the order of the Company) of the Exercise Price for the number of shares specified in such Form. The Company
agrees that the Holder hereof shall be deemed the record owner of such Common Shares as of the close of business on the date on
which this Warrant shall have been presented and payment made for such Common Shares as aforesaid whether or not the Company or
its transfer agent is open for business. Certificates for the Common Shares so purchased shall be delivered to the Holder hereof
within a reasonable time after the rights represented by this Warrant shall have been so exercised. If this Warrant is exercised
in part only, the Company shall, upon surrender of this Warrant for cancellation, execute and deliver a new Warrant evidencing
the rights of the Holder hereof to purchase the balance of the shares purchasable hereunder.

 

    	 

    	 

    

 

2.
Registered Owner. The Company may consider and treat the person in whose name this Warrant shall be registered as
the absolute owner thereof for all purposes whatsoever and the Company shall not be affected by any notice to the contrary. Subject
to the provisions hereof, the registered owner of this Warrant shall have the right to transfer it by assignment and the transferee
thereof, upon his registration as owner of this Warrant, shall become vested with all the powers and rights of the transferor.
Registration of any new owner shall take place upon presentation of this Warrant to the Company at its offices together with the
Warrant Assignment Form attached hereto duly executed. In case of transfers by operation of law, the transferee shall notify the
Company of such transfer and of his address, and shall submit appropriate evidence regarding the transfer so that this Warrant
may be registered in the name of the transferee. This Warrant is transferable only on the books of the Company by the Holder on
the surrender hereof, duly endorsed. Communications sent to any registered owner shall be effective as against all holders or
transferees of this Warrant not registered at the time of sending the communication.

 

3.
Reservation of Shares. During the period within which the rights represented by this Warrant may be exercised, the
Company shall, at all times, reserve and keep available out of its authorized capital stock, solely for the purposes of issuance
upon exercise of this Warrant, such number of its Common Shares as shall be issuable upon the exercise of this Warrant; and if
at any time the number of authorized Common Shares shall not be sufficient to effect the exercise of this Warrant, the Company
will take such corporate action as may be necessary to increase its authorized but unissued Common Shares to such number of shares
as shall be sufficient for such purpose; the Company shall have analogous obligations with respect to any other securities or
property issuable upon exercise of this Warrant.

 

4.
Fractional Shares. The Company shall not be required to issue certificates representing fractions of Common Shares,
nor shall it be required to issue scrip or pay cash in lieu of fractional interests, it being the intent of the Company and the
Holder that all fractional interests shall be eliminated.

 

5.
Rights of the Holder. The Holder shall not, by virtue hereof, be entitled to any voting or other rights of a stockholder
of the Company, either at law or in equity, and the rights of the Holder are limited to those expressed in this Warrant.

 

6.
Anti-Dilution Provisions.

 

6.1
Adjustments for Stock Dividends; Combinations, Etc. (a) In case the Company shall do any of the following (an “Event”):

 

	 	(i)		declare
                                         a dividend or other distribution on its Common Shares payable in Common Shares of the
                                         Company,
	 	 	 	 
	 	(ii)		subdivide
                                         the outstanding Common Shares pursuant to a stock split or otherwise,
	 	 	 	 
	 	(iii)		combine
                                         the outstanding Common Shares into a smaller number of shares pursuant to a reverse split
                                         or otherwise, or
	 	 	 	 
	 	(iv)		reclassify
                                         its Common Shares,

    	 

    	 

    

 

then
the Exercise Price in effect at the time of the record date for such dividend or other distribution or of the effective date of
such subdivision, combination or reclassification shall be changed to a price determined by dividing (a) the product of the number
of Common Shares outstanding immediately prior to such Event, multiplied by the Exercise Price in effect immediately prior to
such Event by (b) the number of Common Shares outstanding immediately after such Event. Each such adjustment of the Exercise Price
shall be calculated to the nearest one-hundredth of a cent. Such adjustment shall be made successively whenever any Event listed
above shall occur.

 

(b)
Whenever the Exercise Price is adjusted as set forth in Section 6.1 (whether or not the Company then or thereafter elects to issue
additional Warrants in substitution for an adjustment in the number of shares of Warrant Stock), the number of shares of Warrant
Stock specified in each Warrant which the Holder may purchase shall be adjusted, to the nearest full share, by multiplying such
number of shares of Warrant Stock immediately prior to such adjustment by a fraction, of which the numerator shall be the Exercise
Price immediately prior to such adjustment and the denominator shall be the Exercise Price immediately thereafter.

 

6.2
Adjustment for Reorganization, Consolidation or Merger. In case of any reorganization of the Company (or any other
entity, the securities of which are at the time receivable on the exercise of this Warrant) after the date hereof or in case after
such date the Company (or any such other entity) shall consolidate with or merge with or into another entity, then, and in each
such case, the Holder of this Warrant upon the exercise thereof as provided in Section l at any time after the consummation of
such reorganization, consolidation or merger, shall be entitled to receive, in lieu of the securities and property receivable
upon the exercise of this Warrant prior to such consummation, the securities or property to which such Holder would have been
entitled upon such consummation if such Holder had exercised this Warrant immediately prior thereto, all subject to further adjustment
as provided in Section 6.l; in each such case, the terms of this Warrant shall be applicable to the securities or property receivable
upon the exercise of this Warrant after such consummation.

 

7.
Investment Intent. Unless, prior to the exercise of this Warrant, the issuance of the Warrant Stock has been registered
with the Securities and Exchange Commission pursuant to the Act, the Warrant Exercise Form shall be accompanied by the Investment
Representation Letter attached hereto, duly executed by the Holder.

 

8.
Restrictions on Transfer.

 

8.1
Transfer to Comply with the Securities Act of 1933. Neither this Warrant nor any Warrant Stock may be sold, assigned,
transferred or otherwise disposed of except as follows: (1) to a person who, in the opinion of counsel satisfactory to the Company,
is a person to whom this Warrant or the Warrant Stock may legally be transferred without registration and without the delivery
of a current prospectus under the Act with respect thereto and then only against receipt of an agreement of such person to comply
with the provisions of this Section 8 with respect to any resale, assignment, transfer or other disposition of such securities;
or (2) to any person upon delivery of a prospectus then meeting the requirements of the Act relating to such securities and the
offering thereof for such sale, assignment, transfer or disposition.

 

    	 

    	 

    

 

8.2
Legend. Subject to the terms hereof, upon exercise of this Warrant and the issuance of the Warrant Stock, all certificates
representing such Warrant Stock shall bear on the face or reverse thereof substantially the following legend:

 

“The
securities which are represented by this certificate have not been registered under the Securities Act of 1933, and may not be
sold, transferred, hypothecated or otherwise disposed of until a registration statement with respect thereto is declared effective
under such act, or the Company receives an opinion of counsel for the Company that an exemption from the registration requirements
of such act is available.”

 

9.
Lost, Stolen or Destroyed Warrant. In the event that the Holder notifies the Company that this Warrant has been
lost, stolen or destroyed and provides (a) a letter, in form satisfactory to the Company, to the effect that it will indemnify
the Company from any loss incurred by it in connection therewith, and/or (b) an indemnity bond in such amount as is reasonably
required by the Company, the Company having the option of electing either (a) or (b) or both, the Company may, in its sole discretion,
accept such letter and/or indemnity bond in lieu of the surrender of this Warrant as required by Section 1 hereof.

 

10.
Notices. All notices required hereunder shall be given by first-class mail, postage prepaid, or overnight mail or
courier and, if given by the Holder addressed to the Company at 40 Marcus Drive, Suite One, Melville, New York 11747, Attention:
Chief Executive Officer, or such other address as the Company may designate in writing to the Holder; and if given by the Company,
addressed to the Holder at the address of the Holder shown on the books of the Company.

 

11.
Applicable Law; Jurisdiction. This Warrant is issued under, and shall for all purposes be governed by and construed
in accordance with, the laws of the State of Delaware, excluding choice of law principles thereof. The Company and, by its acceptance
of this Warrant, the Holder hereby irrevocably consent and submit to the exclusive jurisdiction of any federal or state court
located within Nassau County, New York over any dispute arising out of or relating to this Warrant and each party hereby irrevocably
agrees that all claims in respect of such dispute or any legal action related thereto may be heard and determined in such courts.
Each of the Company and the Holder hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection
that it or he may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient
forum for the maintenance of such dispute.

 

[Remainder
of page intentionally left blank. Signature page follows.]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be signed on its behalf, in its corporate name, by its duly authorized
officer, all as of the day and year first above written.

 

	 	BIORESTORATIVE
    THERAPIES, INC.
	 	 	 
	 	By:	                  
	     	 	Mark Weinreb
	 	 	Chief Executive Officer

 

    	 

    	 

    

 

BIORESTORATIVE
THERAPIES, INC.

 

WARRANT
EXERCISE FORM

 

The
undersigned hereby irrevocably elects to exercise the within Warrant dated as of June 30, 2016 to the extent of purchasing ______________
shares of Common Stock of BIORESTORATIVE THERAPIES, INC. The undersigned hereby makes a payment of $__________ in payment
therefor.

 

	TO
    BE COMPLETED BY INDIVIDUAL	TO
    BE COMPLETED BY CORPORATE,
	HOLDER,
    JOINT TENANTS, TENANTS	PARTNERSHIP,
    LIMITED LIABILITY
	IN
    COMMON OR AS HOLDERS OF 	COMPANY
    OR TRUST HOLDER
	COMMUNITY
    PROPERTY	 

 

	 	 	 
	Name(s)
    of Holder(s) [Please Print]	 	Name
    of Holder [Please Print]
	 	 	 
	 	 	By:	             
	Signature
    of Holder	 	 	Authorized
    Signatory
	 	 	 
	 	 	 
	Signature
    of Holder, if jointly held	 	Name
    and Title of Authorized Signatory
	 	 	[Please
    Print]
	 	 	 
	 	 	 
	Address(es)
    of Holder(s)	 	Address
    of Holder
	 	 	 
	 	 	 
	Social
    Security Number(s) of Holder(s)	 	Tax
    Identification Number of Holder
	 	 	 
	 	 	 
	Date	 	Date

 

    	 

    	 

    

 

BIORESTORATIVE
THERAPIES, INC.

 

WARRANT
ASSIGNMENT FORM

 

FOR
VALUE RECEIVED, _________________________ hereby sells, assigns and transfers unto _____________________________ (please type
or print name of assignee) with an address at ______________________________________________________________ the right to purchase
shares of Common Stock of BIORESTORATIVE THERAPIES, INC. (the “Company”) represented by this Warrant dated
as of June 30, 2016 to the extent of ___________ shares and does hereby irrevocably constitute and appoint ___________________
attorney to transfer the same on the books of the Company with full power of substitution in the premises.

 

	TO
    BE COMPLETED BY INDIVIDUAL	TO
    BE COMPLETED BY CORPORATE,
	HOLDER,
    JOINT TENANTS, TENANTS	PARTNERSHIP,
    LIMITED LIABILITY
	IN
    COMMON OR AS HOLDERS OF 	COMPANY
    OR TRUST HOLDER
	COMMUNITY
    PROPERTY	 

 

	 	 	 
	Name(s)
    of Holder(s) [Please Print]	 	Name
    of Holder [Please Print]
	 	 	 
	 	 	By:	                  
	Signature
    of Holder	 	 	Authorized
    Signatory
	 	 	 
	 	 	 
	Signature
    of Holder, if jointly held	 	Name
    and Title of Authorized Signatory
		 	[Please
    Print]
	 	 	 
	 	 	 
	Date	 	Date

 

Signature(s)
Guaranteed:

 

    	 

    	 

    

 

BIORESTORATIVE
THERAPIES, INC.

 

FORM
OF INVESTMENT REPRESENTATION LETTER

 

BioRestorative
Therapies, Inc.

40
Marcus Drive

Suite
One

Melville,
New York 11747

 

Gentlemen:

 

In
connection with the acquisition of _______________ shares of Common Stock (the “Shares”) of BIORESTORATIVE THERAPIES,
INC., a Delaware corporation (the “Company”), by the undersigned from the Company pursuant to the exercise of
a Warrant, dated as of June 30, 2016, the undersigned does hereby represent and warrant to the Company as follows:

 

	 	(a)	The
    undersigned represents and warrants that the Shares acquired by it are being acquired for its own account, for investment
    purposes and not with a view to any distribution within the meaning of the Securities Act of 1933, as amended (the “Securities
    Act”).The undersigned will not sell, assign, mortgage, pledge, hypothecate, transfer or otherwise dispose of any of
    the Shares unless (i) a registration statement under the Securities Act with respect thereto is in effect and the prospectus
    included therein meets the requirements of Section 10 of the Securities Act, or (ii) the Company has received a written opinion
    of its counsel that, after an investigation of the relevant facts, such counsel is of the opinion that such proposed sale,
    assignment, mortgage, pledge, hypothecation, transfer or disposition does not require registration under the Securities Act
    or any state securities law.
	 	 	 
	 	(b)	The
    undersigned understands that the resale of the Shares is not, and is not being, registered under the Securities Act and the
    Shares must be held indefinitely unless they are subsequently registered thereunder or an exemption from such registration
    is available.  
	 	 	 
	 	(c)	The
    undersigned recognizes that the acquisition of the Shares involves a high degree of risk and is suitable only for persons
    of adequate financial means who have no need for liquidity with respect to the Shares in that (a) it may not be able to liquidate
    the Shares in the event of emergency; (b) transferability is extremely limited; and (c) it could sustain a complete loss of
    its investment.
	 	 	 
	 	(d)	The
    undersigned represents and warrants that it (a) is competent to understand and does understand the nature of its investment;
    and (b) is able to bear the economic risk of an acquisition of the Shares.

 

    	 

    	 

    

 

	 	(e)	The
    undersigned represents and warrants that it is an “accredited investor,” as such term is defined in Rule 501 of
    Regulation D promulgated under the Securities Act.  The undersigned meets the requirements of at least one of the
    suitability standards for an “accredited investor” as set forth on the Accredited Investor Certification attached
    hereto.  
	 	 	 
	 	(f)	The
    undersigned has reviewed the Company’s filings with the Securities and Exchange Commission, including the risk factors
    set forth therein, and has been afforded the opportunity to obtain such information regarding the Company as it has reasonably
    requested to evaluate the merits and risks of the undersigned’s investment in the Shares. No oral or written representations
    have been made or oral information furnished to the undersigned or its advisers in connection with the investment in the Shares.
	 	 	 
	 	(g)	The
    undersigned confirms that the representations and warranties set forth in the Subscription Agreement pursuant to which the
    Warrant was issued are true and correct as of the date hereof as if made on and as of the date hereof with respect to the
    purchase of the Shares.
	 	 	 
	 	(h)	The
    undersigned acknowledges that counsel to the Company will be relying, and may rely, upon the foregoing in connection with
    any opinion of counsel it may give with regard to the issuance of the Shares by the Company to the undersigned, and any subsequent
    transfer of the Shares by the undersigned, and agrees to advise the Company and its counsel in writing in the event of any
    change in any of the foregoing.

 

Very
truly yours,

 

	TO
    BE COMPLETED BY INDIVIDUAL	TO
    BE COMPLETED BY CORPORATE,
	HOLDER,
    JOINT TENANTS, TENANTS	PARTNERSHIP,
    LIMITED LIABILITY
	IN
    COMMON OR AS HOLDERS OF 	COMPANY
    OR TRUST HOLDER
	COMMUNITY
    PROPERTY	 

 

	 	 	 
	Name(s)
    of Holder(s) [Please Print]	 	Name
    of Holder [Please Print]
	 	 	 
	 	 	By:	 
	Signature
    of Holder	 	 	Authorized
    Signatory
	 	 	 
	 	 	 
	Signature
    of Holder, if jointly held	 	Name
    and Title of Authorized Signatory
	 	 	[Please
    Print]
	 	 	 
	 	 	 
	Date	 	Date

 

    	 

    	 

    

 

BIORESTORATIVE
THERAPIES, INC.

 

WARRANT
EXERCISE

 

Accredited
Investor Certification

(Initial
the appropriate box(es))

 

The
undersigned represents and warrants that it, he or she is an “accredited investor” based upon the satisfaction of
one or more of the following criteria:

 

	_____	(1)
                                         he or she is a natural person who has a net worth or joint net worth with his or her
                                         spouse in excess of $1,000,000 at the time of his or her purchase1; or
	 	 
	_____	(2)
                                         he or she is a natural person who had an individual income in excess of $200,000 in each
                                         of the two most recent years or a joint income with his or her spouse in excess of $300,000
                                         in each of those years and has a reasonable expectation of reaching the same income level
                                         in the current year; or
	 	 
	_____	(3)
                                         he or she is a director or executive officer of the Company; or
	 	 
	_____	(4)
                                         it is either (a) a bank as defined in Section 3(a)(2) of the Securities Act or a savings
                                         and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities
                                         Act, whether acting in its individual or fiduciary capacity, (b) a broker or dealer registered
                                         pursuant to Section 15 of the Securities Exchange Act of 1934, (c) an insurance company
                                         as defined in Section 2(13) of the Securities Act, (d) an investment company registered
                                         under the Investment Company Act of 1940 or a business development company as defined
                                         in Section 2(a)(48) of such act, (e) a small business investment company licensed by
                                         the United States Small Business Administration under Section 301(c) or (d) of the Small
                                         Business Investment Act of 1958, (f) a plan established and maintained by a state or
                                         its political subdivisions, or any agency or instrumentality of a state or its political
                                         subdivisions, for the benefit of its employees, if such plan has total assets in excess
                                         of $5,000,000 or (g) an employee benefit plan within the meaning of Title I of the Employee
                                         Retirement Income Security Act of 1974, if the investment decision is made by a plan
                                         fiduciary, as defined in Section 3(21) of such act, which plan fiduciary is a bank, savings
                                         and loan association, an insurance company or a registered investment advisor, or if
                                         the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed
                                         plan, with investment decisions made solely by persons who otherwise meet these suitability
                                         standards; or

 

 

1For
purposes of calculating net worth:

	 	(i)	The
                                         undersigned’s primary residence shall not be included as an asset; 
	 	(ii)	Indebtedness
                                         that is secured by the undersigned’s primary residence, up to the estimated fair
                                         market value of the primary residence at the date hereof, shall not be included as a
                                         liability (except that if the amount of such indebtedness outstanding at the date hereof
                                         exceeds the amount outstanding 60 days before the date hereof, other than as a result
                                         of the acquisition of the primary residence, the amount of such excess shall be included
                                         as a liability); and 
	 	(iii)	Indebtedness
                                         that is secured by the undersigned’s primary residence in excess of the estimated
                                         fair market value of the primary residence at the date hereof shall be included as a
                                         liability.

 

    	 

    	 

    

 

		_____	(5)
                                         it is a private business development company as defined in Section 202(a)(22) of the
                                         Investment Advisers Act of 1940; or
	 	 	 
		_____	(6)
                                         it is an organization described in Section 501(c)(3) of the Internal Revenue Code of
                                         1986, as amended, a corporation, a Massachusetts or similar business trust or a partnership
                                         not formed for the specific purpose of acquiring the Shares offered hereby, with total
                                         assets in excess of $5,000,000; or
	 	 	 
		_____	(7)
                                         it is a trust, with total assets in excess of $5,000,000, not formed for the specific
                                         purpose of acquiring the Shares, whose purchase is directed by a sophisticated person
                                         who has such knowledge and experience in financial and business matters that he or she
                                         is capable of evaluating the merits and risks of the prospective investment; or
	 	 	 
		_____	(8)
                                         it is a corporation, partnership or other entity, and each and every equity owner of
                                         such entity initials a separate Accredited Investor Certification pursuant to which it,
                                         he or she certifies that it, he or she meets the qualifications set forth in either (1),
                                         (2), (3), (4), (5), (6) or (7) above.

 

	If
    the Warrant Holder is an INDIVIDUAL,	If
    the Warrant Holder is a PARTNERSHIP,
	or
    if the Shares are being acquired as JOINT	CORPORATION,
    LIMITED LIABILITY
	TENANTS,
    as TENANTS IN COMMON, or	COMPANY
    or TRUST:
	as
    COMMUNITY PROPERTY:	 

 

	 	 	 
	Name(s)
    of Warrant Holder	 	Name
    of Warrant Holder
	 	 	 
	 	 	By:	 
	Signature
    of Warrant Holder	 	 	Signature
    of Authorized Representative
	 	 	 
	 	 	 
	Signature,
    if jointly held	 	Name
    and Title of Authorized Representative
	 	 	 
	 	 	 
	Date	 	Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}]]