Document:

SECURITY AGREEMENT

    

    

    This Security Agreement (this “Agreement”) is made as of April 23, 2020, by BioRestorative Therapies,
      Inc., a Delaware corporation (the “Borrower”) as a debtor and debtor in possession, pursuant to the Borrower’s chapter 11 case (the “Chapter

        11 Case”) under Title 11 of the United States Code, as amended, filed in the Eastern District of New York (the “Bankruptcy Court”), Case No. 20-71757-reg, in favor of Auctus Fund,
      LLC, a Delaware limited liability company, (together with its successors and assigns, the “Holder”).

    Reference is hereby made to the following facts:

    A. The Borrower is party to that certain Secured Term Note, dated as of the date hereof, in the principal amount of $713,000.00 (as amended, restated, supplemented or otherwise modified from time to time), (the “Note”);

    B. In order to induce the Holder to loan the amounts referenced in the Note to the Borrower, the Borrower has agreed to execute and deliver this Agreement and grant the pledges and security interests described herein.

    NOW, THEREFORE, in consideration of the foregoing and the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of
      which are hereby acknowledged, the parties hereto agree as follows:

    1. Definitions. 
        The meanings of all defined terms used herein shall be equally applicable to the singular and plural forms of the terms defined.  In addition to the terms defined in the preamble and recitals to this Agreement, the following terms shall have the
        following meanings:

    “Collateral” means, collectively, all right, title and interest of the Borrower in, to and under the
      following personal property, whether now or hereafter existing, whether now owned or hereafter acquired, and wherever located: All accounts and all other rights to the payment of money (including without limitation, pursuant to contracts, agreements
      or other arrangements, tax refunds and insurance proceeds); chattel paper (both tangible and electronic); commercial tort claims; contract rights; deposit accounts; documents; equipment (including without limitation computer hardware and software
      embedded therein); financial assets (including money of any jurisdiction); furniture; general intangibles (including, without limitation, payment intangibles and software, patents, trademarks, tradenames, copyrights, websites, web addresses and all
      other intellectual property); goods; instruments; inventory; investment property; letter-of-credit rights; machinery; software; supporting obligations; real estate; leasehold interests; capital stock in subsidiaries of Borrower; and, to the extent
      not included in the foregoing, all other personal property of the Borrower of any kind or description; together with (a) all attachments, accessions, accessories, tools, parts, supplies, increases, and additions to and all replacements of and
      substitutions for any personal property described above, (b) with respect to equipment and software, any and all licenses, options, warranties, service contracts, program services, test rights, maintenance rights, support rights, improvement rights,
      renewal rights and indemnifications and any model conversions, (c) all proceeds and products of any of the property described above; and (d) all records and data relating to any of the property described above, whether in the form of a writing,
      photograph, microfilm, microfiche, or electronic media, and all of the Borrower’s right, title, and interest in and to all software required to utilize, create, maintain and process any such records or data on electronic media, excluding, however,
      avoidance power actions pursuant to the United States Bankruptcy Code (the “Code”) and proceeds thereof).

    “Loan Documents” means the Note and this Agreement, as such may be amended, restated, supplemented or
      otherwise modified from time to time.

    “Total Obligations” means, collectively, all obligations of the Borrower to Holder, whether now
      existing or hereafter arising, under the Note and this Agreement.

    2. GRANT.

    2.1 Grant of Security Interest.  To secure the prompt unconditional payment and performance in full when due of all of the Total Obligations, the Borrower hereby grants a continuing security interest in, and collaterally assigns and
        transfers to the Holder, all of such Borrower’s right, title and interest in and to the Collateral, wherever located and whether now owned or hereafter acquired by Borrower or hereafter arising in favor of the Borrower.

    2.2 Perfection, Third Parties, Further Assurances.  The Borrower authorizes the Holder to file all UCC financing statements, and amendments thereto and continuations thereof, describing the Collateral (including a description that refers
        to the Collateral as all assets of the Borrower) necessary to perfect the Holder’s security interest hereunder.  Where Collateral is in the possession of a third party, if requested by the Holder, the Borrower will join with the Holder in notifying
        the third party of the Holder’s security interest and obtaining an acknowledgment from the third party that it is holding the Collateral for the benefit of the Holder.  The Borrower agrees to take whatever other actions are reasonably requested by
        the Holder to perfect and continue the perfection of the Holder’s security interest in the Collateral.  The Collateral is and shall remain personal property even though all or any portion of the Collateral may hereafter become attached or affixed
        to real property.  The liens granted to Holder shall be senior to and shall prime all pre-petition liens. Neither Holder nor any of the Collateral shall be subject to any surcharge under section 506(c) of the Code.

    3. REPRESENTATIONS,
          WARRANTIES AND COVENANTS OF BORROWER.

    The Borrower hereby represents and warrants to, and covenants with, the Holder as follows:

    
      	
              (a)

            	
              The Borrower is and will be the sole legal and beneficial owner and holder of record of all of its Collateral.  The liens granted hereunder constitute
                valid and perfected liens.  The Borrower shall, at the Borrower’s expense, take all actions necessary or advisable from time to time to maintain the priority and perfection of the liens granted to the Holder hereunder and shall not take any
                actions that would alter, impair or eliminate said priority or perfection.

            

    

    
      	
              (b)

            	
              The correct legal name and jurisdiction of organization of the Borrower is set forth in the initial paragraph hereof.  The Borrower shall not change
                any such name or jurisdiction without giving at least thirty (30) days’ prior written notice thereof to the Holder. The Borrower shall keep its Collateral and records pertaining to such Collateral at the location set forth on the signature
                page hereto and at any other location described in writing to the Holder.

            

    

    
      	
              (c)

            	
              The Borrower shall comply in all material respects with all laws, regulations, judicial orders or decrees applicable to the Collateral.

            

    

    
      	
              (d)

            	
              The Borrower shall pay promptly when due any taxes, assessments, and governmental charges or levies imposed upon the Collateral.

            

    

    
      	
              (e)

            	
              The Borrower shall advise the Holder promptly, in reasonable detail, of (i) any lien made or asserted against any of the Collateral, and (ii) the
                occurrence of any event or condition which could reasonably be expected to have a material adverse effect on the validity, perfection or priority of the liens granted hereunder.

            

    

    
      	
              (f)

            	
              The Borrower shall not sell, assign, transfer, set over to, or grant a lien to any Person in or otherwise encumber the Collateral except with respect
                to  the sale of inventory and obsolete or surplus assets or assets no longer used or useful in the business in the ordinary course of business consistent with Borrower’s past practices.

            

    

    
      	
              (g)

            	
              The Holder may, from time to time, upon prior notice to the Borrower (except following the occurrence of an Event of Default under the Loan Documents
                when no prior notice shall be required), contact account debtors to verify the validity, amount or any other matter relating to any accounts by mail, telephone or otherwise.  The Borrower shall cooperate fully with the Holder’s efforts to
                so verify any accounts.

            

    

    4. RIGHTS OF
          HOLDER.

    4.1. Holder Appointed Attorney-in-Fact.  The Borrower hereby irrevocably constitutes and appoints the Holder, its employees, agents, successors, assigns, nominees and other transferees, its true and lawful attorney‐in‐fact, with full power
        and authority and with full power of substitution, at the expense of the Borrower, either in the Holder’s own name or in the name of the Borrower, at any time and from time to time, in each case as the Holder in its sole discretion may determine,
        upon the occurrence and during the continuance of an event of default under the Loan Documents, including but not limited to failure to make payment of principal and interest under the Note (an “Event
          of Default”):

    (a) to take any action and execute any instruments that such attorney-in-fact may deem necessary or advisable to accomplish the purposes of this Agreement including, without limitation, in connection with the exercise of the rights and remedies
        granted to the Holder hereunder;

    (b) to ask, demand, collect, receive, receipt for, sue for, compound, and give acquittance for any and all sums or properties that may be or become due, payable, or distributable in respect of the Collateral or that constitute a part thereof,
        with full power to settle, adjust, or compromise any claim thereunder or therefor as fully as the Borrower could do;

    (c) to endorse or sign the name of the Borrower on all instruments given in payment or in part payment thereof and all documents of satisfaction, discharge, or receipt required or requested in connection therewith; and

    (d) to file or take any action or institute any case or proceeding that the Holder may deem necessary or appropriate to collect or otherwise realize upon any or all of the Collateral, or effect a transfer thereof, or cause any of the Collateral
        to be transferred into its own name or the name or names of its successors, assigns, nominees or other transferees, or that may be necessary or appropriate to protect and preserve the right, title, and interest of the Holder in and to the
        Collateral and the security intended to be afforded hereby.

    4.1.1 All of the foregoing is subject to whatever conditions are established by order of the Bankruptcy Court in approving the Borrower’s entry into the Loan Documents and consistent with applicable Federal law.

    4.2. Distributions, Conversion, etc.  So long as no Event of Default shall have occurred and be continuing, the Borrower shall be entitled to:

    (a) receive all cash or payments made in respect of the Collateral in accordance with the terms of the Loan Documents; and

    (b) exercise any and all consensual rights pertaining to the Collateral or any part thereof for any purpose not inconsistent with the terms of this Agreement or the Loan Documents.

    All such rights of the Borrower shall cease if an Event of Default shall have occurred and be continuing, and in each such case the Borrower shall (i) at the request of the Holder,
      issue appropriate instructions that any such cash or payments be made directly to the Holder or to such account as the Holder may designate, and (ii) hold in trust for the Holder and immediately remit to the Holder (with appropriate endorsements) any
      of the same received by the Borrower for application to the Total Obligations in accordance with the Loan Documents.

    4.3. No Assignment of Duties.  This Agreement constitutes an assignment of the Collateral only and not an assignment of any duties or obligations of the Borrower with respect thereto.  By its acceptance hereof and whether or not the Holder
        shall have exercised any of its rights or remedies hereunder, the Holder does not undertake to perform or discharge, and shall not be responsible or liable for the performance or discharge of, any such duties or responsibilities. The Borrower
        agrees that, notwithstanding the exercise by the Holder of any of its rights hereunder, the Borrower shall remain liable for the full and prompt performance of all of Borrower’s obligations and liabilities under or with respect to the Collateral.

    5. REMEDIES.

    5.1. Generally.  Upon the occurrence of an Event of Default, and during the continuance thereof, the Holder shall have, in addition to the rights, powers and authorizations to collect the sums assigned hereunder, all rights and remedies of
        a secured party under the UCC and under other applicable law, including, without limitation, the following rights and remedies, subject only to such Orders as may be entered by the Bankruptcy Court:

    (a) The Holder may, in its sole discretion, (i) give all consents, waivers, approvals, and ratifications required, permitted or requested under the Collateral, (ii) take all actions required under the Collateral to succeed to the Borrower’s
        interest therein, and (iii) otherwise act with respect thereto as though it were the outright owner thereof (in each case, the Borrower hereby irrevocably constituting and appointing the Holder the proxy and attorney-in-fact of the Borrower, with
        full power and authority of substitution, to do so);

    (b) The Holder may, in its sole discretion, demand, sue for, collect, compromise, or settle any rights or claims in respect of any Collateral, as attorney-in-fact pursuant to Section 4.1 hereof or otherwise;

    (c) The Holder may, in its sole discretion, sell, resell, assign, deliver, or otherwise dispose of any or all of the Collateral, for cash or credit or both and upon such terms, in such manner, at such place or places, at such time or times, and
        to such persons or entities as the Holder thinks expedient, all without demand for performance by the Borrower or any notice or advertisement whatsoever except as expressly provided herein or as may otherwise be required by applicable law;

    (d) The Holder may, in its sole discretion, cause all or any part of the Collateral held by it to be transferred into its name or the name of its successor, assign, nominee or other transferee, in which case, such successor, assign, nominee or
        other transferee shall have all of the rights and remedies of the Holder hereunder; and

    (e) The Holder may, in its sole discretion, set off against the Total Obligations, or place an administrative hold or freeze on any and all sums deposited with it or held by it, including any sums in any accounts maintained with the Holder, with
        any withdrawal penalty relating thereto being an expense of collection.

    5.2. Public Sale.  The Holder shall give to the Borrower at least ten (10) days prior written notice of the time and place of any public sale of the Collateral or of the time after which any private sale is to be made.  The Borrower hereby
        acknowledges that ten (10) days prior written notice of such sale or sales shall be reasonable notice.  The Holder may enforce its rights hereunder without any other notice and without compliance with any other condition precedent now or hereafter
        imposed by law, regulation, judicial order or decree or otherwise (all of which are hereby expressly waived by the Borrower, to the fullest extent permitted by law).  The Holder may buy any part or all of the Collateral at any public sale and if
        any part or all of the Collateral is of a type customarily sold in a recognized market or is of a type which is the subject of widely-distributed standard price quotations, the Holder may buy at private sale and may make payments thereof by any
        means.  The Holder may apply the cash proceeds actually received from any sale or other disposition to the reasonable expenses of retaking, holding, preparing for sale, selling, and the like, to reasonable attorneys’ fees, travel, and all other
        expenses which may be incurred by the Holder in attempting to collect the Total Obligations or to enforce this Agreement or in the prosecution or defense of any case or proceeding related to this Agreement, and then to the Total Obligations in
        accordance with the requirements of the Loan Documents.  To the extent that any of the Total Obligations are to be paid or performed by a person or entity other than the Borrower, to the extent permitted by applicable law, the Borrower waives and
        agrees not to assert any rights or privileges which it may have under the UCC.

    5.3. Private Sale.  The Borrower recognizes that the Holder may be unable to effect a public sale of the Collateral by reason of the lack of a ready market for the Collateral and that the Holder may be compelled to resort to one or more
        private sales thereof to a restricted group of purchasers.  The Borrower agrees that any such private sales may be at prices and other terms less favorable to the seller than if sold at public sales and that such private sales shall not solely by
        reason thereof be deemed not to have been made in a commercially reasonable manner.  Any such sale of all or a portion of the Collateral may be for cash or on credit or for future delivery and may be conducted at a private sale where the Holder or
        any other person or entity may be the purchaser of all or part of the Collateral so sold.  The Borrower agrees that to the extent notice of sale shall be required by law, at least ten (10) Business Days prior notice to the Borrower of the time and
        place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification.  Subject to the foregoing, the Holder agrees that any sale of any of the Collateral shall be made in a commercially reasonable
        manner.  The Holder shall not incur any liability as a result of the sale of any of the Collateral, or any part thereof, at any private sale which complies with the requirements of this Section 5.3.  The Borrower hereby waives, to the extent
        permitted by applicable law, any claims against the Holder arising by reason of the fact that the price at which any of the Collateral, or any part thereof, may have been sold at such private sale was less than the price that might have been
        obtained at a public sale, even if the Holder accepts the first offer deemed by the Holder in good faith to be commercially reasonable under the circumstances and does not offer any of the Collateral to more than one offeree.

    5.4. Proceeds; Deficiency.  The proceeds received by the Holder upon any sale or other disposition of the Collateral shall be applied (a) first to the Holder’s costs and expenses incurred in connection with such sale or other disposition,
        (b) second, to the Total Obligations (in such order as the Holder shall determine in its sole discretion) and (c) the remainder, if any, shall be delivered to the Borrower.

    5.5 Remedies Cumulative.  Each right, power and remedy of the Holder provided for in this Agreement, and the Loan Documents, or now or hereafter existing at law or in equity or by statute, shall be cumulative and concurrent and shall be
        in addition to every other such right, power or remedy.  The exercise or beginning of the exercise by the Holder of any one or more of the rights, powers or remedies provided for in this Agreement and/or the Loan Documents, or in any such other
        document, instrument or agreement now or hereafter existing at law or in equity or by statute or otherwise, shall not preclude the simultaneous or later exercise by the Holder of all such other rights, powers or remedies, and no failure or delay on
        the part of the Holder to exercise any such right, power or remedy shall operate as a waiver thereof.

    6. BORROWER’S
          OBLIGATIONS NOT AFFECTED.

    The obligations of the Borrower hereunder shall remain in full force and effect without regard to, and shall not be impaired by, (a) any exercise or nonexercise,
      or any waiver, by the Holder of any right, remedy, power or privilege under or in respect of any of the Total Obligations or any collateral security therefor (including this Agreement and the Collateral); (b) any amendment to or modification or
      restatement of the Loan Documents, or any of the other documents contemplated thereby or ancillary thereto or any of the Total Obligations; (c) any amendment to or modification of any instrument (other than this Agreement) securing any of the Total
      Obligations; or (d) the taking of additional collateral security for, or any other assurances of payment of, any of the Total Obligations, or the release or discharge or termination of any security or other assurances of payment or performance for
      any of the Total Obligations (including any guaranties of the Total Obligations) or the liability of the Borrower therefor; whether or not any of the Borrower shall have notice or knowledge of any of the foregoing.  In order to sell, dispose or
      otherwise realize upon the security interests and assignments herein granted and provided for, and exercise the rights granted the Holder hereunder and under applicable law, there shall be no obligation on the part of the Holder at any time to first
      resort for payment to any other guarantors of the Total Obligations or any part thereof or to resort to any other collateral security, property, liens or other rights or remedies whatsoever, and the Holder shall have the right to enforce the security
      interests and assignments herein provided for irrespective of whether or not other proceedings are pending for realization upon or from any of the foregoing.

    7. TERMINATION.

    Upon satisfaction in full of the Total Obligations, this Agreement shall be deemed terminated and, at the expense of the Borrower, the Holder will release its
      security interest in, and will duly assign, transfer and deliver to the Borrower such of the Collateral as has not theretofore been sold or otherwise applied or released pursuant to this Agreement or the Loan Documents.

    8. MISCELLANEOUS.

    8.1 Demands and Notices.  Any demands or notices required or permitted by this Agreement shall be in writing, and shall be deemed to have been given on the day when delivered by hand or sent via facsimile (receipt confirmed), one day
        after delivery to any national overnight delivery service (delivery charges prepaid), or three days after deposit in the U.S. mails (postage prepaid, certified and return receipt requested) at the address for the Borrower and the Holder set forth
        in the Loan Documents or to such other address as the Borrower or the Holder may designate in a notice given to the other in accordance with this Section.

    8.2 Amendments, Waivers, Etc.  No provision of this Agreement can be changed, waived, discharged or terminated except by an instrument in writing signed by the Holder and the Borrower expressly referring to the provision of this Agreement
        to which such instrument relates and no such waiver shall extend to, affect or impair any right of the Holder with respect to any of the Total Obligations which is not expressly dealt with therein.  No course of dealing or delay or omission on the
        part of the Holder in exercising any right, power or privilege hereunder or under the Loan Documents shall operate as a waiver thereof or otherwise be prejudicial thereto, nor shall any single or partial exercise thereof preclude any other or
        future exercise thereof or the exercise of any other right, power or privilege hereunder or thereunder.

    8.3 Further Assurances.  The Borrower, at its sole cost and expense, agrees to do all such things and execute, acknowledge and deliver all such documents and instruments as the Holder from time to time may reasonably request in order to
        give full effect to this Agreement and to perfect and preserve the rights and powers of the Holder hereunder.

    8.4 Conflicts.  In the event of any conflict between any provision of this Agreement and the Loan Documents, it is the express and absolute understanding and agreement of the Borrower that this Agreement shall be interpreted so as to be
        consistent with the Loan Documents and to give full effect to the rights granted to the Holder herein and therein.  In the event that any conflict between any provision of this Agreement and any order issued by the Bankruptcy Court authorizing the
        Borrower to enter into this Agreement, the terms of such order(s) shall control.

    8.5 Provisions to Survive.  All representations, warranties, covenants and agreements contained in this Agreement shall survive the execution and delivery hereof and of the Loan Documents and shall continue in full force and effect until
        all of the Total Obligations have been indefeasibly paid in full.

    8.6 Governing Law; Jurisdiction.  This Agreement shall be deemed to be a contract made under seal and shall be construed in accordance with and governed by the laws of the Commonwealth of Massachusetts (without regard to its conflicts of
        laws rules).  Any legal action, suit or proceeding arising out of or relating to this Agreement shall, in the first instance, be instituted in the United States Bankruptcy Court for the Eastern District of New York; provided, however, if such
        Court, declines or otherwise lacks jurisdiction, then any legal action, suit or proceeding arising out of or relating to this Agreement may be instituted in any state or federal court in the Commonwealth of Massachusetts, and the Borrower hereby
        irrevocably submits to the jurisdiction of each such court in any such action or proceeding; provided, however, that the foregoing shall not limit the Holder’s rights to bring any legal action or proceeding in any other appropriate jurisdiction in
        its unrestricted discretion.

    8.7 Miscellaneous Provisions.  This Agreement shall inure to the benefit of the Holder, the Borrower and their respective successors, permitted assigns and legal representatives.  The Borrower may not assign its obligations hereunder
        without the prior written consent of the Holder.  This Agreement may be assigned by the Holder in connection with any assignment, transfer or other disposition (in whole or in part) of the Total Obligations or the Loan Documents by the Holder.  The
        rights and remedies herein provided are cumulative and not exclusive of any remedies provided by law or any other agreement.  The invalidity or unenforceability of any one or more sections of this Agreement in their entirety or under certain
        circumstances shall not affect the validity or enforceability of its remaining provisions or the invalid or unenforceable provisions in different circumstances.  Captions are for ease of reference only and shall not affect the meaning of the
        relevant provisions.  The meanings of all defined terms used in this Agreement shall be equally applicable to the singular and plural forms of the terms defined.

    8.8 Holder’s Exoneration.  Under no circumstances shall the Holder be deemed to assume any responsibility for or obligation or duty with respect to any part or all of the Collateral of any nature or kind, or any matter or proceeding
        arising out of or relating thereto, other than (a) to exercise reasonable care in the physical custody of the Collateral and (b) if an Event of Default shall have occurred and be continuing, to act in a commercially reasonable manner in exercising
        its rights and remedies with respect to the Collateral.  Subject to the foregoing, the Holder shall not be required to take any action of any kind to collect, preserve or protect its or the Borrower’s rights in the Collateral.

    8.9 Revival of Security Interests.  To the extent that the Borrower makes a payment or other transfer to the Holder or the Holder receives any payment of proceeds of the Collateral, which is later invalidated, declared to be a fraudulent
        transfer or preference, set aside or required to be repaid under any bankruptcy law, other law or equitable principle, the Holder’s security interest in the Collateral shall be revived and continue as if the payment, transfer or proceeds had never
        been received by the Holder.

    8.10 Holder May Perform.  If the Borrower fails to perform any agreement contained herein, the Holder may, upon three (3) days’ prior notice to the Borrower, perform or cause the performance of such agreement, and the reasonable costs and
        expenses of the Holder incurred in connection therewith shall constitute Total Obligations, shall be secured by the Collateral, and shall be jointly and severally payable by the Borrower forthwith upon demand.  Until paid, the same shall bear
        interest at the default rate set forth in the Loan Documents.

    8.11 Marshalling.  The Holder shall not be required to marshal any present or future collateral security (including but not limited to this Agreement and the Collateral) for, or other assurances of payment of, the Total Obligations, or any
        of them, or to resort to such collateral security or other assurances of payment in any particular order.  To the extent that the Borrower lawfully may, the Borrower hereby agrees that the Borrower will not invoke any law relating to the
        marshalling of collateral that might cause delay in or impede the enforcement of the Holder’s rights under this Agreement or under any other instrument evidencing any of the Total Obligations or under which any of the Total Obligations is
        outstanding or by which any of the Total Obligations is secured or payment thereof is otherwise assured, and to the extent that it lawfully may the Borrower hereby irrevocably waives the benefits of all such laws.

    8.12 Powers of Attorney.  The Borrower hereby acknowledges that each power of attorney granted hereunder is irrevocable and shall be deemed coupled with an interest.

    8.13 Counterparts.  This Agreement may be executed in any number of counterparts, each constituting an original, but all together shall constitute one and the same instrument.

    8.14 WAIVER OF JURY TRIAL, SERVICE OF PROCESS AND DAMAGES.

    the borrower and, by its acceptance hereof, the Holder mutually hereby knowingly, voluntarily and intentionally waive
      the right to a trial by jury in respect of any claim based hereon, arising out of, under or in connection with this agreement or any course of conduct, course of dealings, statements (whether verbal or written) or actions of any party, including,
      without limitation, any course of conduct, course of dealings, statements or actions of the Holder relating to the administration or enforcement of this agreement or the Loan Documents.  the borrower will not seek to consolidate any action in which a
      jury trial has been waived with any other action in which a jury trial cannot or has not been waived.

    in any action or proceedings arising out of or relating to this agreement or the interpretation or enforcement
      hereof, the borrower hereby absolutely and irrevocably waives personal service of any summons, complaint, declaration or other process and hereby absolutely and irrevocably agrees that the service thereof may be made in the manner and to the address
      specified for notices in section 8.1 hereof.

    except as prohibited by law, the borrower hereby waives any right it may have to claim or recover in any litigation
      any special, exemplary, punitive or consequential damages or any damages other than, or in addition to, actual damages.

    the borrower certifies that no representative, agent or attorney of the Holder has represented, expressly or
      otherwise, that the Holder would not, in the event of litigation, seek to enforce the foregoing waivers. the foregoing waivers constitute a material inducement for the Holder to accept this agreement and extend the credit facilities described in the
      Loan Documents.

    IN WITNESS WHEREOF, the parties hereto have caused this Security Agreement to be duly executed and delivered under seal by their duly authorized officers as of
      the date first set forth above.

    BioRestorative Therapies, inc., a Delaware corporation

    

    

    

    

    _____________________________________

    By: Mark Weinreb

    Title: President

    Address: 40 Marcus Drive, Suite One, Melville, NY 11747

    

    

    [Auctus Signature Block]Exhibit 10.1
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	International Business Machines Corporation ("IBM")
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Equity Award Agreement
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	Plan
	    
	[IBM 1999 Long-Term Performance Plan (the "Plan")]
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	Award Type
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	Performance Share Units (PSUs)
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	Purpose
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	The purpose of this Award is to retain and motivate selected executives to realize IBM’s high value business model.  You recognize that this Award represents a potentially significant benefit to you and is awarded for the purpose stated here.
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	Awarded to
Home Country
Global ID
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	Sample
United States (USA) [Employee ID]
[Global ID]
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	Award Agreement
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	This Equity Award Agreement, together with the “Terms and Conditions of Your Equity Award: Effective March 2, 2020” (“Terms and Conditions”) document and the Plan [http://w3.ibm.com/hr/exec/comp/eq_prospectus.shtml,] [https://w3cms.s3-api.us-geo.objectstorage.softlayer.net/inline-files/LTPP_1999_august_2007_prospectus.pdf], both of which are incorporated herein by reference, together constitute the entire agreement between you and IBM with respect to your Award. This Equity Award Agreement shall be governed by the laws of the State of New York, without regard to conflicts or choice of law rules or principles.
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	Grant
	​
	Date of Grant
	# PSUs Awarded
	Performance Period
	Date of Payout

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	[month day year]
[month day year]
[          “           ]
	[amount]
[amount]
[     “      ]
	[dates]
[dates]
[   “   ]
	[date]
[date]
 [   “   ]

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Vesting 
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For the PSUs with the July 31, 2021 Date of Payout, the PSUs will not be subject to adjustment once vested.  For the PSUs with the July 31, 2023 Date of Payout, you can earn the PSUs awarded above based on IBM’s Relative Return on Invested Capital (ROIC) modifier in the IBM PSU program for the 2020-2022 performance period that could result in (1) the percentage of PSUs earned being reduced up to 20 points if the performance falls below the S&P 500 Index median; or (2) the percentage of PSUs earned being increased up to 20 points when IBM exceeds the median performance of both the S&P 500 Index and the S&P Information Technology Index. The relative ROIC modifier has no effect on the percentage of PSUs earned when IBM’s ROIC performance falls between the S&P 500 Index and the S&P Information Technology Index median.
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	Payout of Awards
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	Following the Date of Payout, the Company shall either (a) deliver to you a number of shares of Capital Stock equal to the number of your earned PSUs, or (b) make a cash payment to you equal to the Fair Market Value on the Date of Payout of the number of your earned PSUs at the end of the Performance Period, in either case, net of any applicable tax withholding, and the respective PSUs shall thereafter be canceled.
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All payouts under this Award are subject to the provisions of the Plan, this Agreement and the Terms and Conditions document, including those relating to the cancellation and rescission of awards.
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	Terms and Conditions
of Your Equity Award
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	Refer to the Terms and Conditions document attached for an explanation of the terms and conditions applicable to your Award, including those relating to:
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●     Cancellation and rescission of awards (also see below)
●     Jurisdiction, governing law, expenses and taxes
●     Non-solicitation of Company employees and clients, if applicable
●     Treatment of your Award in the event of death or disability or leave of absence
●     Treatment of your Award upon termination of employment
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It is strongly recommended that you print the Terms and Conditions document for later reference.
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	Cancellation and Rescission
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	You understand that IBM may cancel, modify, rescind, suspend, withhold or otherwise limit or restrict this Award in accordance with the terms of the Plan, including, without limitation, canceling or rescinding this Award if you render services for a competitor prior to, or during the Rescission Period.  You understand that the Rescission Period that has been established is 12 months.  Refer to the Terms and Conditions document and the Plan for further details.
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	Data Privacy, Electronic Delivery
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	By accepting this Award, you agree that data, including your personal data, necessary to administer this Award may be exchanged among IBM and its subsidiaries and affiliates as necessary, and with any vendor engaged by IBM to administer this Award, subject to the Terms and Conditions document; you also consent to receiving information and materials in connection with this Award or any subsequent awards under IBM's  long-term performance plans, including without limitation any prospectuses and plan documents, by any means of electronic delivery available now and/or in the future (including without limitation by e-mail, by Web site access and/or by facsimile), such consent to remain in effect unless and until revoked in writing by you.
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	Extraordinary Compensation
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	Your participation in the Plan is voluntary.  The value of this Award is an extraordinary item of income, is not part of your normal or expected compensation and shall not be considered in calculating any severance, redundancy, end of service payments, bonus, long-service awards, pension, retirement or other benefits or similar payments.  The Plan is discretionary in nature.  This Award is a one-time benefit that does not create any contractual or other right to receive additional awards or other benefits in the future.  Future grants, if any, are at the sole grace and discretion of IBM, including but not limited to, the timing of the grant, the number of units and vesting provisions.  This Equity Award Agreement is not part of your employment agreement, if any.
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	Accept Your Award
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	This Award is considered valid when you accept it.  This Award will be cancelled unless you accept it by 11:59 p.m. Eastern time two business days prior to the end of the Performance Period in the “Grant” section of this Agreement. [By pressing the Accept button below to accept your Award, you acknowledge having received and read this Equity Award Agreement, the Terms and Conditions document and the Plan under which this Award was granted and] [To record your acceptance of the Award and your acknowledgement that you have received and read this Equity Award Agreement, the Terms and Conditions document and the Plan under which this Award was granted, you must electronically sign this Agreement via Adobe Sign.  Further by accepting this Award] you agree (i) not to hedge the economic risk of this Award or any previously-granted outstanding awards, which includes entering into any derivative transaction on  IBM securities (e.g., any short sale, put, swap, forward, option, collar, etc.), (ii) to comply with the terms of the Plan, this Equity Award Agreement and the Terms and Conditions document, including those provisions relating to cancellation and rescission of awards and jurisdiction and governing law, and (iii) that by your acceptance of this Award, all awards previously granted to you under the Plan or other IBM Long-Term Performance Plans are subject to (A) jurisdiction, governing law, expenses, taxes and administration section of the Terms and Conditions document (unless you are, and have been for at least 30 days immediately preceding, a resident of or an employee in
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	Massachusetts at the time of the termination of your employment with IBM, in which case the jurisdiction, governing law, expenses, taxes and administration terms of your previous awards shall apply) and (B) any cancellation, rescission or recovery required by applicable laws, rules, regulations or standards, including without limitation any requirements or standards of the U.S. Securities and Exchange Commission or the New York Stock Exchange.

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IBM
TERMS AND CONDITIONS OF YOUR EQUITY AWARD:
EFFECTIVE MARCH 2, 2020
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Terms and Conditions of Your Equity Award
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Table of Contents
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	Introduction
	3

	How to Use This Document
	3

	Definition of Terms
	4

	Provisions that apply to all countries
	6

	Provisions that apply to select countries
	8

	Provisions that apply to the Performance Share Units (PSUs)
	9

	a. Performance Share Units (“PSUs”) including Cash-Settled PSUs
	9

	Provisions that apply to specific countries
	10

	a. Denmark
	10

	b. Israel
	10

	c. United States
	10

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	Equity Awards: March 2, 2020
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Terms and Conditions of Your Equity Award
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Introduction
This document provides you with the terms and conditions of your Award that are in addition to the terms and conditions contained in your Equity Award Agreement for your specific Award. Also, your Award is subject to the terms and conditions in the governing plan document; the applicable document is indicated in your Equity Award Agreement and can be found [at http://w3.ibm.com/hr/exec/comp/eq_prospectus.shtml.
As an Award recipient, you can see a personalized summary of all your outstanding equity grants in the “Personal statement” section of the IBM executive compensation web site (http://w3.ibm.com/hr/exec/comp). This site also contains other information about long-term incentive awards, including copies of the prospectus (the governing plan document).  If you have additional questions and you are based in the U.S., you can call the IBM Benefits Center at 866-937-0720, weekdays from 8:00 a.m. to 8:00 p.m. Eastern time (TTY available at 800-426-6537). Outside of the U.S. dial your country’s toll-free AT&T Direct® access number, and then enter 866-937-0720. In the U.S., call 800-331-1140 to obtain AT&T Direct access numbers. Access numbers are also available online at www.att.com/traveler or from your local operator.] [https://w3cms.s3-api.us-geo.objectstorage.softlayer.net/inline-files/LTPP_1999_august_2007_prospectus.pdf.]
How to Use This Document
Terms and conditions that apply to all awards in all countries can be found on page 6. Review these in addition to any award- or country-specific terms and conditions that may be listed. Once you have reviewed these general terms, check in your Equity Award Agreement for any award-specific and/or country-specific terms that apply to your Award.
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Terms and Conditions of Your Equity Award:
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Definition of Terms
The following are defined terms from the Long-Term Performance Plan, your Equity Award Agreement, or this Terms and Conditions document. These are provided for your information. In addition to this document, see the Plan prospectus and your Equity Award Agreement for more details.
“Awards” -- The grant of any form of stock option, stock appreciation right, stock or cash award, whether granted singly, in combination or in tandem, to a Participant pursuant to such terms, conditions, performance requirements, limitations and restrictions as the Committee may establish in order to fulfill the objectives of the Plan.
"Board" -- The Board of Directors of International Business Machines Corporation ("IBM").
"Capital Stock" -- Authorized and issued or unissued Capital Stock of IBM, at such par value as may be established from time to time.
“Committee” -- The committee designated by the Board to administer the Plan.
"Company" -- IBM and its affiliates and subsidiaries including subsidiaries of subsidiaries and partnerships and other business ventures in which IBM has an equity interest.
“Engage in or Associate with” includes, without limitation, engagement or association as a sole proprietor, owner, employer, director, partner, principal, joint venture, associate, employee, member, consultant, or contractor.  This also includes engagement or association as a shareholder or investor during the course of your employment with the Company, and includes beneficial ownership of five percent (5%) or more of any class of outstanding stock of a competitor of the Company following the termination of your employment with the Company.
“Equity Award Agreement” -- The document provided to the Participant which provides the grant details.
"Fair Market Value" -- The average of the high and low prices of Capital Stock on the New York Stock Exchange for the date in question, provided that, if no sales of Capital Stock were made on said exchange on that date, the average of the high and low prices of Capital Stock as reported for the most recent preceding day on which sales of Capital Stock were made on said exchange.
"Participant" -- An individual to whom an Award has been made under the Plan. Awards may be made to any employee of, or any other individual providing services to, the Company. However, incentive stock options may be granted only to individuals who are 
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	Equity Awards: March 2, 2020
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employed by IBM or by a subsidiary corporation (within the meaning of section 424(f) of the Code) of IBM, including a subsidiary that becomes such after the adoption of the Plan.
“Performance Team” -- For purposes of the Plan, the Performance Team refers to the team of IBM’s senior leaders who run IBM Business Units or geographies, including the chairman and CEO.  The CEO selects and invites these senior leaders to join the Performance Team.
“Plan” -- Any IBM Long-Term Performance Plan.
“Termination of Employment” -- For the purposes of determining when you cease to be an employee for the cancellation of any Award, a Participant will be deemed to be terminated if the Participant is no longer employed by IBM or a subsidiary corporation that employed the Participant when the Award was granted unless approved by a method designated by those administering the Plan.
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	Equity Awards: March 2, 2020
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Terms and Conditions of Your Equity Award:
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Provisions that apply to all countries
The following provisions apply to all countries and for the following Award types: Performance Share Units and Cash-Settled Performance Share Units.
Cancellation and Rescission
All determinations regarding enforcement, waiver or modification of the cancellation and rescission and other provisions of the Plan and your Equity Award Agreement (including the provisions relating to termination of employment, death and disability) shall be made in IBM’s sole discretion. Determinations made under your Equity Award Agreement and the Plan need not be uniform and may be made selectively among individuals, whether or not such individuals are similarly situated.
You agree that the cancellation and rescission provisions of the Plan and your Equity Award Agreement are reasonable and agree not to challenge the reasonableness of such provisions, even where forfeiture of your Award is the penalty for violation.  Engaging in Detrimental Activity (as defined in the Plan) may result in cancellation or rescission of your Award.  Detrimental Activity includes your acceptance of an offer to Engage in or Associate with any business which is or becomes competitive with the Company.
Jurisdiction, Governing Law, Expenses, Taxes and Administration
Your Equity Award Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to its conflict of law rules. You agree that any action or proceeding with respect to your Equity Award Agreement shall be brought exclusively in the state and federal courts sitting in New York County or, Westchester County, New York.  You agree to the personal jurisdiction thereof, and irrevocably waive any objection to the venue of such action, including any objection that the action has been brought in an inconvenient forum.
If any court of competent jurisdiction finds any provision of your Equity Award Agreement, or portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to effect the intent of the parties, and the remainder of your Equity Award Agreement shall continue in full force and effect.
If you or the Company brings an action to enforce your Equity Award Agreement and the Company prevails, you will pay all costs and expenses incurred by the Company in connection with that action and in connection with collection, including reasonable attorneys’ fees.
If the Company, in its sole discretion, determines that it has incurred or will incur any obligation to withhold taxes as a result of your Award, without limiting the Company’s rights under Section 9 of the Plan, the Company may withhold the number of shares 
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that it determines is required to satisfy such liability and/or the Company may withhold amounts from other compensation to the extent required to satisfy such liability under federal, state, provincial, local, foreign or other tax laws. To the extent that such amounts are not withheld, the Company may require you to pay to the Company any amount demanded by the Company for the purpose of satisfying such liability.
If the Company changes the vendor engaged to administer the Plan, you consent to moving all of the shares you have received under the Plan that is in an account with such vendor (including unvested and previously vested shares), to the new vendor that the Company engages to administer the Plan. Such consent will remain in effect unless and until revoked in writing by you.
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	Equity Awards: March 2, 2020
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Terms and Conditions of Your Equity Award:
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Provisions that apply to select countries
The following provisions apply to select countries and for the following Award types,  Performance Share Units and Cash-Settled Performance Share Units, granted to all individuals in all countries except those with a home country of Latin America, specifically: Argentina, Bolivia, Brazil, Chile, Columbia, Costa Rica, Ecuador, Mexico, Paraguay, Peru, Uruguay, and Venezuela.
Non-Solicitation
In consideration of your Award, you agree that during your employment with the Company and for two years following the termination of your employment for any reason, you will not directly or indirectly hire, solicit or make an offer to any employee of the Company to be employed or perform services outside of the Company. Also, you agree that during your employment with the Company and for one year following the termination of your employment for any reason, you will not directly or indirectly, solicit, for competitive business purposes, any customer of the Company with which you were involved as part of your job responsibilities during the last year of your employment with the Company. By accepting your Award, you acknowledge that the Company would suffer irreparable harm if you fail to comply with the foregoing, and that the Company would be entitled to any appropriate relief, including money damages, equitable relief and attorneys’ fees.
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	Equity Awards: March 2, 2020
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Terms and Conditions of Your Equity Award:
Provisions that apply to the Performance Share Units (PSUs) for all countries
a. Performance Share Units (“PSUs”) including Cash-Settled PSUs
Termination of Employment, including Death and Disability, and Leave of Absence
Termination of Employment and Leave of Absence
If you cease to be an active, full-time employee for any reason (other than on account of death or are disabled as described in Section 12 of the Plan) before the Date of Payout, all PSUs are canceled immediately.
Death or Disability
Prior to the Date of Payout, (i) in the event of your death or (ii) if you are disabled (as described in Section 12 of the Plan), all PSUs shall continue to vest according to the terms of your Equity Award Agreement and the PSUs will be paid on the Date of Payout, based on IBM performance, if applicable, over the entire applicable Performance Period(s).
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Terms and Conditions of Your Equity Award:
Provisions that apply to specific countries
a. Denmark
i. All Awards
Non-Solicitation
The following part of the above non-solicitation provision does not apply to those individuals with the home country of Denmark: “In consideration of your Award, you agree that during your employment with the Company and for two years following the termination of your employment for any reason, you will not directly or indirectly hire, solicit or make an offer to any employee of the Company to be employed or perform services outside of the Company.”
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b. Israel
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i. All Awards
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Data Privacy
In addition to the data privacy provisions in your Equity Award Agreement, you agree that data, including your personal data, necessary to administer this Award may be exchanged among IBM and its subsidiaries and affiliates as necessary (including transferring such data out of the country of origin both in and out of the EEA), and with any vendor engaged by IBM to administer this Award.
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c. United States
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i. All Awards
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Nothing in the Plan prospectus, your Equity Award Agreement or this Document affects your rights, immunities, or obligations under any federal, state, or local law, including under the Defend Trade Secrets Act of 2016, as described in Company policies, or prohibits you from reporting possible violations of law or regulation to a government agency, as protected by law.
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If you are, and have been for at least 30 days immediately preceding, a resident of, or an employee in Massachusetts at the time of the termination of your employment with IBM, cancellation and rescission provisions of the Plan will not apply if you engage in competitive activities after your employment relationship has ended with IBM. For the avoidance of doubt, cancellation and rescission provisions of the Plan will apply if you engage in (1) any Detrimental Activity prior to your employment relationship ending with IBM or (2) any Detrimental Activity described in Section 13(a) of the Plan other than engaging in competitive activities after your employment relationship has ended with IBM.

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