Document:

SECOND AMENDMENT TO LEASE

 

This Second Amendment
to Lease (this “Second Amendment“) is made as of ________________, 2012, by and between ORANGE COAST, LLC,
a Delaware limited liability company ("Landlord"), and BIORESTORATIVE THERAPIES, INC., a Nevada
corporation ("Tenant").

 

RECITALS

 

A.   Landlord
and Tenant, successor-in-interest to Stem Cell Assurance, Inc., a Nevada corporation, have entered into that certain Lease Agreement
dated as of January 20, 2010 as amended by that certain First Amendment to Lease dated as of March 11, 2011 (as amended, the “Lease”),
wherein Landlord leased to Tenant certain premises containing approximately 2,421 rentable square feet (the " Premises")
located at 555 Heritage Drive, Jupiter, Nevada, as more particularly described therein. Capitalized terms used herein without definition
shall have the meanings defined for such terms in the Lease.

 

B.    Tenant
desires to relocate a portion of the Premises consisting of approximately 249 rentable square feet known as Suite 167 as shown
on Exhibit A-1 hereto (“Surrender Premises”) by moving such portion of the Premises to an area of the
Building consisting of 249 rentable square feet known as Suite 135 as shown on Exhibit A-2 hereto (“Substitute
Premises”) and Landlord is willing to lease such portion of the Project to Tenant on the terms herein set forth.

 

AGREEMENT

 

NOW THEREFORE, in consideration
of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant
hereby agree as follows:

 

1.          Substitute
Premises. Commencing on the Substitute Premises Commencement Date (defined below), Landlord leases to Tenant, and Tenant
leases from Landlord, the Substitute Premises. The “Substitute Premises Commencement Date” shall mean the earlier
of (i) the date that Landlord delivers the Substitute Premises to Tenant or (ii) the date Tenant conducts any business in the Substitute
Premises or any part thereof. It is estimated that the Substitute Premises Commencement Date will occur on June 8, 2012 (the “Estimated
Substitute Premises Commencement Date”). lf Landlord fails to timely deliver the Substitute Premises to Tenant on or
before the Estimated Substitute Premises Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting
therefrom, and the Lease shall not be void or voidable. Upon the request of Landlord, Tenant shall execute and deliver a written
acknowledgment of the Substitute Premises Commencement Date when such is established in the form of the “Acknowledgement
of Substitute Premises Commencement Date” attached to this Second Amendment as Exhibit B; provided, however, Tenant’s
failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder.

 

2.          Premises.
Effective as of the Substitute Premises Commencement Date, Suite 135 shall be deemed added to subsection (ii) of the definition
of Premises on page 1 of the Lease. Effective as of the Surrender Date (defined below) the reference to Suite 167 in subsection
(ii) of the definition of Premises on page 1 of the Lease shall be deemed deleted.

 

 

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3.          AS-IS.
Effective as of the Substitute Premises Commencement Date: (i) Tenant shall accept the Substitute Premises in its as-is condition
as of such date; (ii) Landlord shall have no obligation for any defects in the Substitute Premises; and (iii) Tenant's taking possession
of the Substitute Premises shall be conclusive evidence that Tenant accepts the Substitute Premises and that the Substitute Premises
were in good condition at the time of delivery.

 

Tenant agrees and acknowledges
that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or
any portion of the Substitute Premises or the Project, and/or the suitability of the Substitute Premises or the Project for the
conduct of Tenant's business, and Tenant waives any implied warranty that the Substitute Premises or the Project are suitable for
the Permitted Use. This Second Amendment constitutes the complete agreement of Landlord and Tenant with respect to the subject
matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations
which are not contained herein.

 

4.          Surrender
Premises. Tenant shall surrender the Surrender Premises to Landlord on or before the Substitute Premises Commencement Date
in accordance with Section 28 and all other provisions of the Lease. If Tenant fails to timely surrender the Original Premises
as required in this Section 4, then Tenant shall, among other things, be liable for holdover rent as set forth in Section
8 of the Lease. The date on which Tenant performs its obligations under the Lease and this Second Amendment with respect to
its surrender of the Surrender Premises shall be deemed the “Surrender Date”. The Lease with respect to the
Surrender Premises shall terminate on the Surrender Date. From and after the Surrender Date, Tenant shall have no further rights
of any kind with respect to the Surrender Premises. Notwithstanding the foregoing, those provisions of the Lease which, by their
terms, survive the termination of the Lease shall survive the surrender of the Surrender Premises and termination of the Lease
with respect to the Surrender Premises as provided for herein. Nothing herein shall excuse Tenant from its obligations under the
Lease with respect to the Surrender Premises prior to the Surrender Date.

 

5.          Miscellaneous.

 

(a)          This
Second Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
and contemporaneous oral and written agreements and discussions. This Second Amendment may be amended only by an agreement in writing,
signed by the parties hereto.

 

(b)          This
Second Amendment is binding upon and shall inure to the benefit of the parties hereto, their respective agents, employees, representatives,
officers, directors, divisions, subsidiaries, affiliates, assigns, heirs, successors in interest and shareholders.

 

(c)          This
Second Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when
taken together shall constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without
impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical
thereto except having additional signature pages executed by other parties to this Second Amendment attached thereto.

 

 

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(d)          Landlord
and Tenant each represent and warrant that it has not dealt with any broker, agent or other person (collectively “Broker“)
in connection with this transaction, and that no Broker brought about this transaction. Landlord and Tenant each hereby agree to
indemnify and hold the other harmless from and against any claims by any Broker claiming a commission or other form of compensation
by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction.

 

(e)          Except
as amended and/or modified by this Second Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease
shall remain in full force and effect, unaltered and unchanged by this Second Amendment. In the event of any conflict between the
provisions of this Second Amendment and the provisions of the Lease, the provisions of this Second Amendment shall prevail. Whether
or not specifically amended by this Second Amendment, all of the terms and provisions of the Lease are hereby amended to the extent
necessary to give effect to the purpose and intent of this Second Amendment.

 

(Signatures on Next Page)

 

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Second Amendment as of the day and year first above written.

 

	 	TENANT:
	 	 
	 	BIORESTORATIVE THERAPIES, INC.,
	 	a Nevada corporation
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Its:	 	 
	 	 	 	 
	 	Witnessed as to Tenant in the presence of:
	 	 	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	-and-
	 	 	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	LANDLORD:
	 	 
	 	ORANGE COAST, LLC,
	 	a Delaware limited liability company 
	 	 	 	 
	 	By: 	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	Witnessed as to Landlord in the presence of:
	 	 	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	-and-
	 	 	 	 
	 	 	 	 
	 	Name:	 	 

 

 

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EXHIBIT A-1

SURRENDER PREMISES

 

 

 

 

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EXHIBIT A-2

SUBSTITUTE PREMISES

 

 

 

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EXHIBIT B

ACKNOWLEDGMENT OF SUBSTITUTE PREMISES COMMENCEMENT
DATE

 

This ACKNOWLEDGMENT
OF SUBSTITUTE PREMISES COMMENCEMENT DATE is made as of this _____ day of _____________, 2012, between ORANGE COAST, LLC,
a Delaware limited liability company ("Landlord"), and BIORESTORATIVE THERAPIES, INC., a Nevada corporation
("Tenant"), and is attached to and made a part of the Lease dated as of January 20, 2010, as amended by the First
Amendment to Lease dated as of March 11, 2011 and the Second Amendment to Lease dated as of ______________, 2012 (as amended, the
"Lease"), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein
shall have the meanings given them in the Lease.

 

Landlord and Tenant
hereby acknowledge and agree, for all purposes of the Lease, that the "Substitute Premises Commencement Date”
is ________________, __________ and the termination date of the Base Term of the Lease shall be midnight on _____________________.
In case of a conflict between this Acknowledgment of Substitute Premises Commencement Date and the Lease, this Acknowledgment of
Substitute Premises Commencement Date shall control for all purposes.

 

IN WITNESS WHEREOF,
Landlord and Tenant have executed this ACKNOWLEDGMENT OF SUBSTITUTE PREMISES COMMENCEMENT DATE to be effective on the date first
above written.

 

	TENANT:	BIORESTORATIVE THERAPIES, INC.,
	 	a Nevada corporation
	 	 	 
	 	By:	 
	 	Name:	 
	 	Its:	 
	 	 
	 	Witnessed as to Tenant in the presence of:
	 	 
	 	 
	 	Name:
	 	 
	 	 
	 	Name:
	 	 
	LANDLORD:	ORANGE COAST, LLC,
	 	a Delaware limited liability company 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Its:	 
	 	 
	 	Witnessed as to Landlord in the presence of:
	 	 
	 	 
	 	Name:
	 	 
	 	 
	 	Name:

 

 

    	Page - 7THIRD AMENDMENT TO LEASE

 

This Third Amendment
to Lease (this “Third Amendment“) is made as of ________________, 2014, by and between ORANGE COAST, LLC,
a Delaware limited liability company ("Landlord"), and BIORESTORATIVE THERAPIES, INC., a Nevada
corporation ("Tenant").

 

RECITALS

 

A.           Landlord
and Tenant, successor-in-interest to Stem Cell Assurance, Inc., a Nevada corporation, have entered into that certain Lease Agreement
dated as of January 20, 2010 as amended by that certain First Amendment to Lease dated as of March 11, 2011 and that certain Second
Amendment to Lease dated as of June 13, 2012 (as amended, the “Lease”), wherein Landlord leased to Tenant certain
premises containing approximately 2,421 rentable square feet (the "Premises") located at 555 Heritage Drive, Jupiter,
Nevada, as more particularly described therein. Capitalized terms used herein without definition shall have the meanings defined
for such terms in the Lease.

 

B.           The
term of the Lease expires on January 31, 2014.

 

C.           Subject
to the terms and conditions below, Tenant and Landlord desire to amend the Lease to among other things (i) extend the term of the
Lease with respect to a portion of the Premises consisting of approximately 249 rentable square feet known as Suite 135 as shown
on Exhibit A hereto (“Office Premises”) and (ii) confirm the surrender of the remaining portion of the
Premises consisting of approximately 2,172 rentable square foot (“Surrender Premises”) on or before the expiration
of the current term of the Lease on January 31, 2014.

 

AGREEMENT

 

NOW THEREFORE, in consideration
of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant
hereby agree as follows:

 

1.        Base Term.
Notwithstanding anything in the contrary in the Lease, the Term of the Lease with respect to the Office Premises and the Shared
Area shall be extended to expire on July 31, 2014.

 

The Term of the Lease
with respect to the Surrender Premises shall expire, as set forth in the Lease, on January 31, 2014 (“Surrender Date”)
and Tenant shall surrender the Surrender Premises in accordance with the terms of the Lease including, without limitation, Section
28 thereof. If Tenant fails to surrender the Surrender Premises on or before the Surrender Date, Tenant shall be liable for
holdover rent with respect to the Surrender Premises in accordance with Section 8 of the Lease. From and after the Surrender
Date, Tenant shall have no further rights of any kind with respect to the Surrender Premises. Notwithstanding the foregoing, those
provisions of the Lease which, by their terms, survive the termination of the Lease shall survive the surrender of the Surrender
Premises and termination of the Lease with respect to the Surrender Premises as provided for herein. Nothing herein shall excuse
Tenant from its obligations under the Lease with respect to the Surrender Premises prior to the Surrender Date.

 

 

 

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2.          Rent.

 

a.           Base
Rent. Notwithstanding anything to the contrary in the Lease, Base Rent payable for the Office Premises for the three month
period commencing on February 1, 2014 and ending March 31, 2014 shall be due and payable on February 1, 2014 in the aggregate amount
of $2,885. Subject to Tenant’s right to terminate in Section 3 below, commencing on April 1, 2014, Base Rent for the
Office Premises shall be due and payable monthly in advance on the first day of each month at the rate of $961.67 per month.

 

b.           
Operating Expenses. Notwithstanding anything to the contrary in the Lease, commencing on February 1, 2014, Tenant
shall not be required to pay Tenant’s Share of Operating Expenses with respect to the Office Premises.

 

3.          Right
to Terminate. Tenant shall have a one time right (“Early Termination Right”) to terminate the Lease
effective April 30, 2014 (“Early Termination Date”) upon not less than 30 days prior written notice to Landlord.
If Tenant exercises the Early Termination Right in accordance with the terms and conditions of this Section 3, then the
Lease shall terminate on the Early Termination Date and Tenant shall surrender the Office Premises in accordance with the terms
of the Lease including, without limitation, Section 28 thereof.

 

4.          Shared
Area. Subject to Landlord’s rules and regulations governing the Shared Area, Tenant shall have the right to install
one freezer (“Freezer”) approved by Landlord in the Shared Area. Such installation shall be performed in a good
and workmanlike manner. Upon the expiration or earlier termination of the Lease with respect to the Shared Area, Tenant shall remove
the Freezer from the Shared Area, and restore and repair any damage caused by or occasioned as a result of such removal. Any personal
property of Tenant remaining in the Shared Area after the expiration or earlier termination of the Term with respect to the Shared
Area shall be deemed abandoned.

 

5.          Miscellaneous.

 

(a)          This
Third Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
and contemporaneous oral and written agreements and discussions. This Third Amendment may be amended only by an agreement in writing,
signed by the parties hereto.

 

(b)          This
Third Amendment is binding upon and shall inure to the benefit of the parties hereto, their respective agents, employees, representatives,
officers, directors, divisions, subsidiaries, affiliates, assigns, heirs, successors in interest and shareholders.

 

(c)          This
Third Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when
taken together shall constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without
impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical
thereto except having additional signature pages executed by other parties to this Third Amendment attached thereto.

 

 

 

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(d)          Landlord
and Tenant each represent and warrant that it has not dealt with any broker, agent or other person (collectively “Broker“)
other than Applefield Waxman in connection with this transaction, and that no Broker (other than Applefield Waxman) brought about
this transaction. Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by
any Broker (other than Applefield Waxman) claiming a commission or other form of compensation by virtue of having dealt with Tenant
or Landlord, as applicable, with regard to this leasing transaction.

 

(e)          Except
as amended and/or modified by this Third Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease
shall remain in full force and effect, unaltered and unchanged by this Third Amendment. In the event of any conflict between the
provisions of this Third Amendment and the provisions of the Lease, the provisions of this Third Amendment shall prevail. Whether
or not specifically amended by this Third Amendment, all of the terms and provisions of the Lease are hereby amended to the extent
necessary to give effect to the purpose and intent of this Third Amendment.

 

(Signatures on Next Page)

 

 

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Third Amendment as of the day and year first above written.

 

	 	TENANT:	 
	 	 	 
	 	BIORESTORATIVE THERAPIES, INC.,	 
	 	a Nevada corporation	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Its:	 	 
	 	 	 	 
	 	Witnessed as to Tenant in the presence of:	 
	 	 	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	 	-and-	 
	 	 	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	LANDLORD:	 
	 	 	 
	 	ORANGE COAST, LLC,	 
	 	a Delaware limited liability company 	 
	 	 	 	 
	 	By: 	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	Witnessed as to Landlord in the presence of:	 
	 	 	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	 	-and-	 
	 	 	 	 
	 	 	 	 
	 	Name:	 	 

 

 

 

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EXHIBIT A

OFFICE PREMISES

 

 

 

 

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