Document:

Exhibit 4.1

 

Warrant No. ____

 

NEITHER THIS SECURITY
NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE
TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES
ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
SECURITIES.

 

COMMON STOCK PURCHASE WARRANT

 

BRAINSTORM
CELL THERAPEUTICS INC.

 

	Warrant Shares: _______	Initial Exercise Date:	January __, 2015
	 	Issue Date:	January __, 2015

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the Initial Exercise Date (as set forth above) and on or prior to the close of business on June 19, 2018 (the “Termination
Date”) but not thereafter, to subscribe for and purchase from Brainstorm Cell Therapeutics Inc., a Delaware corporation
(the “Company”), up to ______ shares (as subject to adjustment hereunder, the “Warrant Shares”)
of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined
in Section 2(b).

 

Section 1.          Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase
Agreement (the “Purchase Agreement”), dated June 13, 2014, among the Company and the purchasers signatory thereto.
  

 

    	 

    	 

    

 

Section 2.          Exercise.

 

a)        Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing
on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise in the form annexed hereto and within
three (3) Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment
of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United States
bank or, if available, pursuant to the cashless exercise procedure specified in Section 2(c) below. No ink-original Notice of Exercise
shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form
be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant
to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised
in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of
the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of
a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of
Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the
Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall
deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee,
by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase
of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may
be less than the amount stated on the face hereof.

 

b)        Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $6.50, subject to adjustment hereunder
(the “Exercise Price”).

 

c)        Cashless
Exercise. If at any time after the earlier of (i) the one year anniversary of the Issue Date and (ii) the completion of the
then-applicable holding period required by Rule 144, or any successor provision then in effect, there is no effective Registration
Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant
may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall
be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

		(A) =	 the VWAP on the Trading Day immediately preceding the
date on which Holder elects to exercise this Warrant by means of a “cashless exercise,” as set forth in the applicable
Notice of Exercise;

 

		(B) =	 the Exercise Price of this Warrant, as adjusted hereunder;
and

 

		(X) =	 the number of Warrant Shares that would be issuable upon
exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather
than a cashless exercise.

 

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		d)	Mechanics of Exercise.

 

i.           Delivery
of Warrant Shares Upon Exercise. Warrant Shares purchased hereunder shall be transmitted by the Transfer Agent to the Holder
by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal
at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an
effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder
or (B) the shares are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144, and
otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is three (3) Trading
Days after the delivery to the Company of the Notice of Exercise and payment of the aggregate Exercise Price as set forth above
(including by cashless exercise, if permitted) (such date, the “Warrant Share Delivery Date”). The Warrant Shares
shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become
a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company
of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant
to Section 2(d)(vi) prior to the issuance of such shares, having been paid.

 

ii.            Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii.         Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

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iv.         Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to an exercise on or before
the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction
or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a
sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including
brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the
number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder,
either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in
which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have
been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases
Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common
Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding
sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating
the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.
Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including,
without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely
deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

v.           No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at round up to the next whole share.

 

vi.         Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of Warrant Shares, all of which taxes and expenses shall be paid by the Company,
and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant
when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company
may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The
Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository
Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery
of the Warrant Shares.

 

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vii.         Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

e)        Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other
Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess of
the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common
Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon exercise
of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock
which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder
or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of
the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise
analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates.  Except as set forth
in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company
is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder
is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained
in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by
the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion of
the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant
is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this
Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to
verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with
the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by
the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral
request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares
of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after
giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates
since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation”
shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable upon exercise of this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company,
may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership
Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to
the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e)
shall continue to apply. Any such increase or decrease will not be effective until the 61st day after such notice is
delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict
conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent
with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to
properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this
Warrant.

 

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Section 3.          Certain
Adjustments.

 

a)        Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

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b)        [RESERVED]

 

c)        Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time during which this Warrant is
outstanding the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities
or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”),
then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which
the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of
this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or
sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase
Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d)        Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation
in such Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution
to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time,
if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation). To
the extent that this Warrant has not been partially or completed exercised at the time of such Distribution, such portion of the
Distribution shall be held in abeyance for the benefit of the Holder until the Holder has exercised this Warrant.

 

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e)        Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise
of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to
apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor
(the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the
other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance
reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction
and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced
by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number
of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable
and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such
Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock
(but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value
of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting
the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably
satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity
shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this
Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity),
and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant
and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.

 

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f)         Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)        Notice
to Holder.

 

i.            Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of
Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.         Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last
address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common
Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the
date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or
close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares
of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall
not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled
to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering
such notice except as may otherwise be expressly set forth herein.

 

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Section 4.          Transfer
of Warrant.

 

a)         Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the provisions
of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation, any registration
rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated
agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder
or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or
assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue
to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.
Notwithstanding anything herein to the contrary, the Holder shall not
be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case,
the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder delivers an assignment
form to the Company assigning this Warrant full. The Warrant, if properly assigned in accordance herewith, may be exercised
by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

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b)         New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial
Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)         Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

d)         Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with
any transfer of this Warrant, the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration
statement under the Securities Act and under
applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current
public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that
the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 5.7 of the Purchase Agreement.

 

e)         Representation
by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any
exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for
distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, except pursuant to sales registered or exempted under the Securities Act.

 

Section 5.           Miscellaneous.

 

a)         No
Rights as Stockholder Until Exercise. Except as set forth in Section 3(d) of this Warrant, this Warrant does not entitle the
Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth
in Section 2(d)(i), except as expressly set forth in Section 3.

 

    	-11-

    	 

    

 

b)         Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c)         Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d)         Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

    	-12-

    	 

    

 

Before taking
any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

e)         Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Purchase Agreement.

 

f)         Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)        Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact that all
rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of
this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be
sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of
appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its
rights, powers or remedies hereunder.

 

h)        Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Purchase Agreement.

 

i)         Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j)         Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

    	-13-

    	 

    

 

k)         Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l)         Amendment.
This Warrant is one of a series of warrants issued pursuant to Warrant Exercise Agreements with the Company dated on or about the
date hereof (the “Warrant Agreements”). This Warrant may be modified or amended or the provisions hereof waived
with the written consent of the Company and holders of a majority of the Warrant Shares (as defined in all of the outstanding Warrant
Agreements) then exercisable under all outstanding Warrant Agreements.

 

m)         Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n)         Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

********************

 

(Signature Page Follows)

 

    	-14-

    	 

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	BRAINSTORM CELL THERAPEUTICS INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

    	-15-

    	 

    

 

NOTICE OF EXERCISE

 

To:        BRAINSTORM
CELL THERAPEUTICS INC.

 

(1)         The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.

 

(2)         Payment
shall take the form of (check applicable box):

 

[ ] in lawful
money of the United States; or

 

[ ] [if permitted
the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c),
to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure
set forth in subsection 2(c).

 

(3)         Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

	 	 	 

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

	 	 	 

 

	 	 	 

 

	 	 	 

 

(4)         Accredited Investor.
The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933,
as amended.

 

[SIGNATURE
OF HOLDER]

 

	Name of Investing Entity:	 

	Signature of Authorized Signatory of Investing Entity:	 

	Name of Authorized Signatory:	 

	Title of Authorized Signatory:	 

	Date:	 

 

    	-16-

    	 

    

 

EXHIBIT B

 

ASSIGNMENT
FORM

 

(To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED,
the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)
	 	 
	Address:	 
	 	(Please Print)
	Dated: _______________ __, ______	 
	 	 
	Holder’s Signature:____________________	 
	 	 
	Holder’s Address:_____________________	 

 

    	-17-Exhibit 10.1

 

 

SUBJECT
TO MAXIM COMMITMENT COMMITTEE APPROVAL

 

CONFIDENTIAL

 

January 6,
2015

 

Anthony Fiornio,
M.D., Ph.D., Chief Executive Officer

Chaim Lebovits,
President

Brainstorm
Cell Therapeutics Inc.

605 Third Avenue,
34th Floor

New York, NY
10158

 

RE: Warrant Solicitation

 

Dear Chaim,

 

We are pleased
that Brainstorm Cell Therapeutics, Inc., a Delaware corporation (the “Company”) has decided to retain Maxim
Group LLC (“Maxim” or the “Solicitation Agent”) to provide general financial advisory and
investment banking services to the Company as set forth herein. This letter agreement (“Agreement”) will confirm
the Solicitation Agent’s acceptance of such retention and set forth below are the terms of our engagement.

 

WHEREAS, the
Company hereby retains the Solicitation Agent as its exclusive lead warrant solicitation agent in connection with its contemplated
solicitation of the exercise of the Company’s warrants (the “Warrant Solicitation”) for the period of
time set forth herein. It is also understood and agreed that the Warrant Solicitation shall be simultaneous to the issuance of
new warrants ("New Issuance") to prospective entities that may participate in the Warrant Solicitation, and

 

WHEREAS, as
of November 14, 2014, the Company had outstanding 15,281,497 Common Stock Shares and approximately 2.8 million common stock share
purchase warrants with an exercise price of $5.22 per share and expiring on June 19, 2017 (the “Warrants”),
and

 

NOW, THEREFORE,
in consideration of the premises and mutual agreements herein set forth, the parties hereto agree as follows:

 

1.          Compliance
with Applicable Securities Laws/Best Efforts. Each of the Company and the Solicitation Agent agree that the Solicitation Agent’s
solicitation of Warrants shall be consistent with applicable federal and state securities laws, the guidelines of the Financial
Industry Regulatory Authority (“FINRA”), applicable SEC rules and regulations, including but not limited to
Regulation M, the rules and regulations of all relevant exchange(s) and disclosure of the Company’s compensation arrangement
with the Solicitation Agent will be made in documents provided to the holders of the Warrants. Moreover, the Solicitation Agent
shall, consistent with its obligations under applicable laws and the rules and regulations of FINRA, use its reasonable best efforts
to maximize the number of Warrants (as such term is defined hereafter) which are exercised, including appropriate communications
with the record owners and beneficial owners of the Warrants, as well as said owners’ brokers, agents or other representatives.

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

 

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 2

 

2.            Compensation.
As compensation for services rendered and to be rendered hereunder by the Solicitation Agent, the Company agrees to provide
the Solicitation Agent with the following:

 

(a)          The
Company shall pay to the Solicitation Agent a cash fee consisting of a cash payment equal to six percent (6.0%) of the total proceeds
received from the exercise of any and all of the Company’s Warrants (the “Solicitation Fee”) by investors
receiving the New Issuance.

 

(b)          Upon
the execution of this Agreement, the Company shall provide the Solicitation Agent with $10,000 (by check or wire transfer of immediately
available funds) as an advance (the “Advance”) to be applied toward the Solicitation Agent’s anticipated
out-of-pocket expenses. In the event this Agreement is not completed within the term set forth in Section 10, the Placement Agent
will be entitled to reimbursement of its actual, out-of-pocket accountable expenses (including legal fees and expenses) incurred
by the Solicitation Agent in connection with the Warrant Solicitation up to $20,000 in the aggregate (including the Advance).
Any expense in excess of $5,000 (excluding the Solicitation Agent’s legal costs, fees, and disbursements) shall require
the prior written consent of the Company. The Solicitation Agent shall be obligated to refund any portion of the Advance that
has not been utilized for the payment of such expenses.

 

(c)          The
Company shall, at the Closing, grant to the Solicitation Agent (or its designated affiliates) securities purchase warrants (the
“Agent Warrants”) covering a number of shares of the Company’s common stock equal to one and one half
percent (1.5%) of the total number of shares of the Company’s common stock underlying the securities (the "Securities")
being exercised in the Warrant Solicitation by Investors who were solicited by the Solicitation Agent in connection with the Warrant
Solicitation; provided, however, that no Agent Warrants shall be issued to the Solicitation Agent for warrants issued to investors
in connection with the Warrant Solicitation. The Agent Warrants will have the same exercise price and expiration date as the new
warrants issued to the investors in connection with the Warrant Solicitation. The Agent Warrants shall not be redeemable. To the
extent that the Investors are granted registration rights with respect the new warrants, the Company will grant identical rights
to the Solicitation Agent with respect to the Securities underlying the Agent Warrants. The Solicitation Agent will be entitled
to customary demand and “piggyback” rights pursuant to FINRA Rule 5110. If so registered, the Agent Warrants (and
the underlying securities) may not be transferred, assigned or hypothecated for a period of six (6) months following the Effective
Date pursuant to FINRA Rule 5110(g)(1), except that they be assigned, in whole or in part, to any successor, officer or member
of the Solicitation Agent (or to officers or partners of any such successor or member) pursuant to FINRA Rule 5110(g)(2). The
Agent Warrants may be exercised in whole or in part, shall provide for “cashless” exercise if, and only if, at the
time of exercise thereof there is no effective registration statement registering, or the prospectus contained therein is not
available for the issuance of the shares issuable to the Solicitation Agent upon exercise, and shall provide for customary mathematical
adjustments for stock splits, reverse stock splits, subdivisions, combinations, dividends or distributions in shares of Common
Stock, or other similar reclassifications.

 

3.          Timing
of Payment. Within fifteen (15) days after the end of each month of the term of this Agreement, the Company will deliver a
notice to the Solicitation Agent setting forth the number of Warrant certificates which have been properly completed for exercise
by holders of the Warrants in accordance with this Agreement, together with payment of the Solicitation Fee with respect to the
Warrants so exercised and any documentation requested by the Solicitation Agent.

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

 

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 3

 

4.            Representation
and Warranties of the Company.

 

(a)          The
Company is a corporation duly organized, validly existing and in good standing under the laws of Delaware and has full corporate
power and authority to execute and deliver this Agreement and to consummate the transactions contemplated hereby.

 

(b)          The
execution and delivery of this Agreement and the consummation by it of the transactions contemplated hereby and thereby have been
duly authorized by the board of directors of the Company and the stockholders of the Company, if required, and no further consent
or authorization is required by the Company, the board of directors of the Company or of its stockholders. No other corporate
proceedings on the part of the Company are necessary to approve and authorize the execution and delivery of this Agreement. This
Agreement constitutes the legal, valid and binding agreement of the Company, enforceable against it in accordance with its terms,
except as enforceability may be limited by insolvency, bankruptcy or other similar laws affecting creditors’ rights generally.

 

(c)          The
Company’s Registration Statement (“Registration Statement”) on Form S-1 (File No. 333-197347), registering
the sale of Common Shares issuable upon exercise of the Warrants (the “Warrant Shares”) was declared effective
by the Securities and Exchange Commission (the “Commission”) on July 24, 2014 and remains effective and shall
remain effective during the term of this Agreement.The Commission has not issued any orders preventing or suspending the use of
the Prospectus contained in the Registration Statement and the Prospectus (as modified or supplemented by information incorporated
by reference into such Prospectus) as well as the Company’s other public filings (the “SEC filings”)
conforms, and during the effectiveness of this Agreement will conform, in all material respects with the requirements of the Securities
Act of 1933, as amended (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange
Act”), as amended and do not, and during the effectiveness of this Agreement will not, include any untrue statement
of material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading.

 

(d)          The
Warrant Shares have been duly authorized, have been duly reserved for issuance and upon exercise of the Warrants and payment to
the Company of the exercise price therefore, the Warrant Shares will be validly issued, fully paid and non-assessable.

 

(e)          Neither
the execution and delivery of this Agreement by the Company nor the consummation of the transactions contemplated hereby will
(i) conflict with or result in any breach of any provisions of the Articles of Incorporation or Bylaws of the Company, each as
amended to date; (ii) require any consent, approval, authorization or permit from, or filing with or notification to, any United
States or foreign governmental or regulatory authority or other third party, except for any such consents approvals, authorizations,
permits, filings or notifications, the absence of which would not have a material adverse effect on the Company or the Warrants,
(iii) result in a breach of the terms, conditions or provisions of, constitute a default under or cause, permit or give rise to
any right of termination, cancellation or acceleration under any of the terms, conditions or provisions of any material agreement
to which the Company is a party to.

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

  

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 4

 

5.          Information.
In connection with the Solicitation Agent’s activities hereunder, the Company will fully cooperate with the Solicitation
Agent and furnish the Solicitation Agent upon request with all information regarding the business, operations, properties, financial
condition, legal condition, litigation status, management and prospects of the Company (all such information so furnished being
the “Information”) that the Solicitation Agent deems appropriate for conducting its due diligence and will
provide the Solicitation Agent with access to the Company’s officers, directors, employees, consultants, independent accountants
and legal counsel. The Company represents and warrants to the Solicitation Agent that all Information made available to the Solicitation
Agent hereunder will be complete and correct in all material respects and will not contain any untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements therein not misleading in light of the circumstances
under which such statements are or will be made. The Company further represents and warrants that any projections and other forward-looking
information provided by it to the Solicitation Agent will have been prepared in good faith and will be based upon assumptions
(which shall be disclosed by the Company) which, in light of the circumstances under which they are made, are reasonable. The
Company recognizes and confirms that the Solicitation Agent: (i) will use and rely primarily on the Information and on information
available from generally recognized public sources in performing the services contemplated by this Agreement without having independently
verified the same; (ii) does not assume responsibility for the accuracy or completeness of the Information and such other information;
and (iii) will not make an appraisal of any assets of the Company. Any advice rendered by the Solicitation Agent pursuant to this
Agreement may not be disclosed publicly without the Solicitation Agent’s prior written consent. The Solicitation Agent hereby
acknowledges that certain of the Information received by the Solicitation Agent may be confidential and/or proprietary, including
Information with respect to the Company’s technologies, products, business plans, marketing, and other Information which
must be maintained by the Solicitation Agent as confidential. The Solicitation Agent agrees that it will not disclose such confidential
and/or proprietary Information to any other companies in the industry in which the Company is involved without the Company’s
consent.

 

6.          Indemnification.
The Company agrees to indemnify the Solicitation Agent in accordance with the indemnification and other provisions attached to
this Agreement as Exhibit A (the “Indemnification Provisions”), which provisions are incorporated herein
by reference and shall survive the termination or expiration of this Agreement.

 

7.          Other
Activities. The Company acknowledges that the Solicitation Agent has been, and may in the future be, engaged to provide services
as an underwriter, placement agent, finder, advisor and investment banker to other companies in the industry in which the Company
is or may be involved. Subject to the confidentiality provisions of the Solicitation Agent contained in Section 5 hereof, the
Company acknowledges and agrees that nothing contained in this Agreement shall limit or restrict the right of the Solicitation
Agent or of any past, present or future member, manager, partner, officer, director, owner, employee, agent or representative
of or investor in the Solicitation Agent, to be a member, manager, partner, officer, director, owner, employee, agent or representative
of, investor in, or to engage in, any other business, whether or not of a similar, dissimilar or conflicting in nature to the
Company’s business, nor to limit or restrict the right of the Solicitation Agent and the foregoing persons and entities
to render services of any kind to any other corporation, firm, individual or association. The Solicitation Agent may, but shall
not be required to, present opportunities to the Company.

 

8.          Right
of Participation. Upon the completion of any Closing of the Warrant Solicitation, until June 18, 2015, the Company grants
the Solicitation Agent a right of participation as a broker-dealer for at least 50% of the economics (other than in Israel) for
any and all future private and public equity offerings during such twelve (12) month period, or in the case of a three-handed
deal, 33% of the economics (other than in Israel) for any and all future private and public equity offerings, in either case subject
to the Company choosing to engage a broker-dealer for such offerings; provided, however, that such right of participation shall
not apply to any "at-the-market" continuous equity offering facilities ("ATM Facility") established
by the Company.

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

  

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 5

 

9.          Termination;
Survival of Provisions. The Agreement shall become effective upon the date of mutual execution by both parties to this Agreement,
and shall continue to be in effect for a period of thirty (30) business days subsequent to the Company’s filing of a Form
8-K which is filed in connection with the warrant solicitation contemplated by this Agreement. The Solicitation Agent shall be
entitled to terminate this Agreement prior to the exercise of all of the Warrants at any time upon five (5) business days prior
notice to the Company. Notwithstanding any such termination, the Solicitation Agent shall be entitled to receive a Solicitation
Fee for the exercise of any Warrant that has already been delivered to the Company prior to any such termination and the fees
and expenses set forth in Section 6. Notwithstanding anything expressed or implied herein to the contrary: the terms and provisions
of Sections 2, 4, 6, 8(including, but not limited to, the Indemnification Provisions attached to this Agreement and incorporated
herein by reference), this Section 9, and 10-17, shall survive the termination of this Agreement.

 

10.         Notices.
All notices provided hereunder shall be given in writing and either delivered personally or by overnight courier service or sent
by certified mail, return receipt requested, or by facsimile transmission, if to the Solicitation Agent, to Maxim Group LLC, 405
Lexington Avenue, 2nd Floor, New York, New York 10174, Attention: James Siegel, Esq., Assistant General Counsel, Fax
No. (212) 895-3860, and if to the Company, to the address, set forth on the first page of this Agreement, Attention: Chaim Lebovits.
Any notice delivered personally or by fax shall be deemed given upon receipt (with confirmation of receipt required in the case
of fax transmissions); any notice given by overnight courier shall be deemed given on the next business day after delivery to
the overnight courier; and any notice given by certified mail shall be deemed given upon the second business day after certification
thereof.

 

11.         Governing
Law; Venue; Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by construed and enforced in accordance with
the laws of the State of New York applicable to agreements made and to be fully performed therein, without regard to conflicts
of law principles. The Company irrevocably agrees that any suit, claim, action or proceeding of any kind or nature whatsoever
arising out of this Agreement or any of the agreements, transactions or matters contemplated hereby, which is brought by or against
the Company shall be brought in the Supreme Court of the State of New York, County of New York or the United States District Court
for the Southern District of New York. The Company further irrevocably submits to the exclusive jurisdiction of the Supreme Court
of the State of New York, County of New York or the United States District Court for the Southern District of New York for the
purpose of any suit, claim, action or other proceeding of any kind or nature whatsoever arising out of this Agreement, or any
of the agreements , transactions or matters contemplated hereby, which is brought by or against the Company, and agrees that service
of process in connection with any such suit, claim, action or proceeding may be made upon the Company in accordance with Section
10 hereof it being agreed that such service shall be good and valid service to which the Company shall not challenge by way of
objection, defense or otherwise.. The parties hereby expressly waive all rights to trial by jury in any suit, claim, action or
proceeding arising under this Agreement, or any of the agreements, transactions or matters contemplated hereby.

 

12.         Amendments.
This Agreement may not be modified or amended except in a writing duly executed by the parties hereto.

 

13.         Headings.
The section headings in this Agreement have been inserted as a matter of reference and are not part of this Agreement.

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

  

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 6

 

14.         Successors
and Assigns. The benefits of this Agreement shall inure to the parties hereto, their respective successors and assigns and
to the indemnified parties hereunder and their respective successors and assigns, and the obligations and liabilities assumed
in this Agreement shall be binding upon the parties hereto and their respective successors and assigns. Notwithstanding anything
contained herein to the contrary, neither the Solicitation Agent nor the Company shall assign any of its obligations hereunder
without the prior written consent of the other party.

 

15.         No
Third Party Beneficiaries. This Agreement does not create, and shall not be construed as creating, any rights enforceable
by any person or entity not a party hereto, except those entitled to the benefits of the Indemnification Provisions. Without limiting
the foregoing, the Company acknowledges and agrees that the Solicitation Agent is not being engaged as, and shall not be deemed
to be, an agent or fiduciary of the Company’s stockholders or creditors or any other person by virtue of this Agreement
or the retention of the Solicitation Agent hereunder, all of which are hereby expressly waived.

 

16.         Waiver.
Any waiver or any breach of any of the terms or conditions of this Agreement shall not operate as a waiver of any of the terms
or conditions of this Agreement or of any other breach of such terms or conditions or of any other term or condition, nor shall
any failure to insist upon strict performance or to enforce any provision hereof on any occasion operate as a waiver of such provision
or of any other provision hereof or a waiver of the right to insist upon strict performance or to enforce such provision or any
other provision on any subsequent occasion. Any waiver must be in writing.

 

17.
      Counterparts. This Agreement may be executed in any number of counterparts and by facsimile transmission, each of which
shall be deemed to be an original instrument, but all of which taken together shall constitute one and the same agreement. Facsimile
signatures shall be deemed to be original signatures for all purposes.

 

(signature
page to follow)

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

  

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 7

 

If
the foregoing correctly sets forth our agreement, please sign the enclosed copy of this Agreement in the space provided below
and return it to us, along with the Advance referenced in Section 2(b).

 

	 	Best Regards,
	 	 
	 	MAXIM GROUP LLC
	 	 
	 	By: 	 	 
	 	 	Eric B. Cheng
	 	 	Senior Managing Director, Healthcare
    Investment Banking
	 	 	 
	 	By: 	 	 
	 	 	Clifford A. Teller
	 	 	Executive Managing Director, Head
    of Investment Banking

 

	Agreed to and accepted this __
    day of January, 2015	 
	 	 
	BRAINSTORM CELL THERAPEUTICS, INC.	 
	 	 
	By: 	 	 	 
	 	Name:	 	 
	 	Title:	 	 

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

  

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 8

 

Exhibit A

 

INDEMNIFICATION
PROVISIONS

 

Capitalized
terms used in this Exhibit shall have the meanings ascribed to such terms in the Agreement to which this Exhibit is attached.

 

The
Company agrees to indemnify and hold harmless Maxim and each of the other Indemnified Parties (as hereinafter defined) from and
against any and all losses, claims, damages, obligations, penalties, judgments, awards, liabilities, attorneys fees, costs, expenses
and disbursements of any kind or nature whatsoever, and any and all actions, suits, proceedings and investigations of any kind
or nature whatsoever in respect thereof and any and all legal fees and other costs, expenses and disbursements in giving testimony
or furnishing documents in response to a subpoena or otherwise (including, without limitation, the legal fees, consulting or expert
fees, costs, expenses and disbursements, as and when incurred, of investigating, preparing, pursing or defending any such action,
suit, proceeding or investigation (whether or not in connection with litigation in which any Indemnified Party is a party)) (collectively,
“Losses”), directly or indirectly, caused by, relating to, based upon, arising out of, or in connection with,
Maxim’s acting for the Company, including, without limitation, any act or omission by Maxim in connection with its acceptance
of or the performance or non-performance of its obligations under the Agreement between the Company and Maxim to which these indemnification
provisions are attached and form a part (the “Agreement”), any breach by the Company of any representation,
warranty, covenant or agreement contained in the Agreement (or in any instrument, document or agreement relating thereto, including
any Agency Agreement), or the enforcement by Maxim of its rights under the Agreement or these indemnification provisions, except
to the extent that any such Losses are found in a final judgment by a court of competent jurisdiction (not subject to further
appeal) to have resulted primarily and directly from the gross negligence or willful misconduct of the Indemnified Party seeking
indemnification hereunder. The Company also agrees that no Indemnified Party shall have any liability (whether direct or indirect,
in contract or tort or otherwise) to the Company for or in connection with the engagement of Maxim by the Company or for any other
reason, except to the extent that any such liability is found in a final judgment by a court of competent jurisdiction (not subject
to further appeal) to have resulted primarily and directly from such Indemnified Party’s gross negligence or willful misconduct.

 

These
Indemnification Provisions shall extend to the following persons (collectively, the “Indemnified Parties”):
Maxim, its present, former and future affiliated entities, managers, members, officers, directors, owners ,partners, stockholders,
employees, legal counsel, agents, representatives and controlling persons (within the meaning of the federal securities laws),
and its and their affiliated entities, managers, members, officers, directors, owners, partners, stockholders, employees, legal
counsel, agents, representatives and controlling persons of any of them. These indemnification provisions shall be in addition
to any liability which the Company may otherwise have to any Indemnified Party.

 

If any action, suit, proceeding
or investigation is commenced, as to which an Indemnified Party proposes to demand indemnification, it shall notify the Company
with reasonable promptness; provided, however, that any failure by an Indemnified Party to notify the Company shall
not relieve the Company from its obligations hereunder. An Indemnified Party shall have the right to retain counsel of its own
choice to represent it, and the fees, expenses and disbursements of such counsel shall be borne by the Company. Any such counsel
shall, to the extent consistent with its professional responsibilities, cooperate with the Company and any counsel designated
by the Company. The Company shall be liable for and pay any settlement of any claim against any Indemnified Party made with the
Company’s written consent. The Company shall not, without the prior written consent of Maxim, settle or compromise any claim,
or permit a default or consent to the entry of any judgment in respect thereof, unless such settlement, compromise or consent
(i) includes, as an unconditional term thereof, the giving by the claimant or claimants to all of the Indemnified Parties of an
unconditional release from all liability in respect of such claim, and (ii) does not contain any factual or legal admission by
or with respect to an Indemnified Party or an adverse statement with respect to the character, professionalism, expertise or reputation
of any Indemnified Party or any action or inaction of any Indemnified Party.

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

 

    	 

    	 

    

  

BrainStorm Cell Therapeutics, Inc.

January 6, 2015

Page 9

 

In
order to provide for just and equitable contribution, if a claim for indemnification pursuant to these indemnification provisions
is made but it is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that such indemnification
may not be enforced in such case, even though the express provisions hereof provide for indemnification in such case, then the
Company shall contribute to the Losses to which any Indemnified Party may be subject (i) in accordance with the relative benefits
received by the Company and its stockholders, subsidiaries and affiliates, on the one hand, and the Indemnified Party, on the
other hand, and (ii) if (and only if) the allocation provided in clause (i) of this sentence is not permitted by applicable law,
in such proportion as to reflect not only the relative benefits, but also the relative fault of the Company, on the one hand,
and the Indemnified Party, on the other hand, in connection with the statements, acts or omissions which resulted in such Losses
as well as any relevant equitable considerations. No person found liable for a fraudulent misrepresentation shall be entitled
to contribution from any person who is not also found liable for fraudulent misrepresentation. The relative benefits received
(or anticipated to be received) by the Company and its stockholders, subsidiaries and affiliates shall be deemed to be equal to
the aggregate consideration payable or receivable by such parties in connection with the transaction or transactions to which
the Agreement relates relative to the amount of fees actually received by Maxim in connection with such transaction or transactions.
Notwithstanding the foregoing, in no event shall the amount contributed by all Indemnified Parties exceed the amount of fees previously
received by Maxim pursuant to the Agreement.

 

Neither
termination nor completion of the Agreement shall affect these Indemnification Provisions which shall remain operative and in
full force and effect. The Indemnification Provisions shall be binding upon the Company and its successors and assigns and shall
inure to the benefit of the Indemnified Parties and their respective successors, assigns, heirs and personal representatives.

 

The
Company shall be required to advance to the Indemnified Parties all legal fees, consultant and expert fees, costs, disbursements
and other expenses relating to, associated with or arising from the Losses.

 

Members
FINRA & SIPC

405
Lexington Ave. * New York, NY10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

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