Document:

Exhibit 10.2

 

BRAINSTORM CELL
THERAPEUTICS INC.

 

Nonstatutory Stock Option Agreement

Granted Under 2014 Stock Incentive Plan

 

		1.	Grant of Option.

 

This agreement evidences the grant by Brainstorm
Cell Therapeutics Inc., a Delaware corporation (the “Company”), on         ,
201[    ] (the “Grant Date”) to [                    ],
an [employee of] [consultant to] the Company (the “Participant”), of an option to purchase, in whole or in part, on
the terms provided herein and in the Company’s 2014 Stock Incentive Plan (the “Plan”), a total of [                ]
shares (the “Shares”) of common stock, $0.00005 par value per share, of the Company (“Common Stock”) at
$[        ] per Share. Unless earlier terminated, this option shall expire at 5:00 p.m.,
Eastern time, on [                    ]
(the “Final Exercise Date”).

 

It is intended that the option evidenced
by this agreement shall not be an incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as
amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the
term “Participant”, as used in this option, shall be deemed to include any person who acquires the right to exercise
this option validly under its terms.

 

		2.	Vesting Schedule.

 

This option will become exercisable (“vest”)
as to                     .

 

The right of exercise shall be cumulative
so that to the extent the option is not exercised in any period to the maximum extent permissible it shall continue to be exercisable,
in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination
of this option under Section 3 hereof or the Plan.

 

		3.	Exercise of Option.

 

(a) Form of Exercise. Each
election to exercise this option shall be in writing, signed by the Participant, and received by the Company at its principal office,
accompanied by this agreement, and payment in full in the manner provided in the Plan or indication on such notice of exercise
that the Participant wishes to effect a net exercise of this option in accordance with Section 5(f)(4) of the Plan. The Participant
may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional
share.

 

(b) Continuous Relationship with
the Company Required. Except as otherwise provided in this Section 3, this option may not be exercised unless the Participant,
at the time he or she exercises this option, is, and has been at all times since the Grant Date, an employee or officer or director
of, or consultant or advisor (as such terms are defined and interpreted for purposes of Form S-8 under the Securities Act of 1933,
as amended) to, the Company or any other entity the employees, officers, consultants, or advisors of which are eligible to receive
option grants under the Plan (an “Eligible Participant”).

 

(c) Termination of Relationship
with the Company. If the Participant ceases to be an Eligible Participant for any reason, then, except as provided in paragraphs (d)
and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after
the Final Exercise Date), provided that this option shall be exercisable only to the extent that the
Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant,
prior to the Final Exercise Date, violates the non-competition or confidentiality provisions of any employment contract, confidentiality
and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall
terminate immediately upon such violation.

 

    	 

    	 

    

 

(d) Exercise Period Upon Death
or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior
to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for
“cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of one year following
the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this
option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death
or disability, and further provided that this option shall not be exercisable after the Final Exercise Date.

 

(e) Termination for Cause.
If, prior to the Final Exercise Date, the Participant’s employment or other relationship with the Company is terminated by
the Company for Cause (as defined below), the right to exercise this option shall terminate immediately upon the effective date
of such termination of employment or other relationship. If the Participant is party to an employment, consulting or severance
agreement with the Company that contains a definition of “cause” for termination of employment or other relationship,
“Cause” shall have the meaning ascribed to such term in such agreement. Otherwise, “Cause” shall mean willful
misconduct by the Participant or willful failure by the Participant to perform his or her responsibilities to the Company (including,
without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition
or other similar agreement between the Participant and the Company), as determined by the Company, which determination shall be
conclusive. The Participant shall be considered to have been discharged for “Cause” if the Company determines, within
30 days after the Participant’s resignation, that discharge for cause was warranted.

 

		4.	Withholding.

 

No Shares will be issued pursuant to the
exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for
payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option.

 

		5.	Nontransferability of Option.

 

This option may not be sold, assigned,
transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the
laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant.

 

		6.	Provisions of the Plan.

 

This option is subject to the provisions
of the Plan (including the provisions relating to amendments to the Plan), a copy of which is furnished to the Participant with
this option.

 

IN WITNESS WHEREOF, the Company has caused
this option to be executed under its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument.

 

	 	Brainstorm Cell Therapeutics Inc.
	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	Title:	 

 

    	 

    	 

    

 

PARTICIPANT’S ACCEPTANCE

 

The undersigned hereby accepts the foregoing
option and agrees to the terms and conditions thereof. The undersigned hereby acknowledges receipt of a copy of the Company’s
2014 Stock Incentive Plan.

 

	 	PARTICIPANT:
	 	 
	 	 
	 	 
	 	Address:	 
	 	 	 
	 	 	 

 

    	 

    	 

    

 

FORM OF NOTICE OF STOCK OPTION EXERCISE

 

Date:

 

Brainstorm Cell Therapeutics Inc.

605 Third Avenue, 34th Floor

New York, NY 10158

 

Dear Sir or Madam:

 

I am the holder of a Nonstatutory Stock
Option granted to me under the Brainstorm Cell Therapeutics Inc. (the “Company”) 2014 Stock Incentive Plan (the
“Plan”) on                      for
the purchase of                  shares
of common stock, par value $0.001 per share, of the Company (“Common Stock”) at a purchase price of $         per
share.

 

I hereby exercise my option with respect
to                  shares of
Common Stock for which:

 

(Select as appropriate)

 

		•	I have enclosed                      in
the amount of                     .

 

		•	I wish to effect a net exercise in accordance with Section 5(f)(4) of the Plan, and in connection therewith I understand
that I will receive the number of shares set forth above with respect to which I am exercising my option less such number of shares
as is equal to (A) the aggregate purchase price for the shares with respect to which I am exercising my option divided by
(B) the fair market value per share of Common Stock (as determined under the Plan) on the date of exercise of my option. This
notice shall constitute a notice of net exercise as required under Section 5(f)(4) of the Plan.

 

Please register my stock certificate as
follows:

	 	 	 
	Name(s):	 	 
	 	 	 
	 	 	 
	 	 	 
	Address:	 	 
	 	 	 
	Tax I.D. #:	 	 

 

	Very truly yours,	 
	 	 
	 	 
	Name:Exhibit 10.3

 

BRAINSTORM CELL
THERAPEUTICS INC.

 

Restricted Stock Agreement

Granted Under 2014 Stock Incentive Plan

 

	Name of Recipient:
	 
	Number of shares of restricted common stock awarded:
	 
	Grant Date:

 

     Brainstorm
Cell Therapeutics Inc. (the “Company”) has selected you to receive the restricted stock award described above, which
is subject to the provisions of the Company’s 2014 Stock Incentive Plan (the “Plan”) and the terms and conditions
contained in this Restricted Stock Agreement. Please confirm your acceptance of this restricted stock award and of the terms and
conditions of this Agreement by signing a copy of this Agreement where indicated below.

 

	 	Brainstorm Cell Therapeutics Inc.
	 	 
	 	By:
	 	 
	 	[insert name and title]
	 	 
	Accepted and Agreed:	 
	 	 
	[insert name of recipient]	 

 

    	 

    	 

    

  

BRAINSTORM CELL
THERAPEUTICS INC.

 

Restricted Stock Agreement

Granted Under 2014 Stock Incentive Plan

 

The terms and conditions of the award of
shares of restricted common stock of the Company (the “Restricted Shares”) made to the Recipient, as set forth on the
cover page of this Agreement, are as follows:

 

1.           Issuance
of Restricted Shares.

 

(a)          The
Restricted Shares are issued to the Recipient, effective as of the Grant Date (as set forth on the cover page of this Agreement),
in consideration of [services] rendered and to be rendered by the Recipient to the Company.

 

(b)          [The
Restricted Shares will initially be issued the Company in book entry form only, in the name of the Recipient. Following the vesting
of any Restricted Shares pursuant to Section 2 below, the Company shall, if requested by the Recipient, issue and deliver
to the Recipient a certificate representing the vested Restricted Shares.] The Recipient agrees that the Restricted Shares shall
be subject to the forfeiture provisions set forth in Section 3 of this Agreement and the restrictions on transfer set forth
in Section 4 of this Agreement.

 

2.           Vesting.

 

Unless otherwise provided in this Agreement
or the Plan, the Restricted Shares shall vest in accordance with the following vesting schedule:                                                             .
Any fractional number of Restricted Shares resulting from the application of the foregoing percentages shall be rounded down to
the nearest whole number of Restricted Shares.

 

3.           Forfeiture
of Unvested Restricted Shares Upon Employment Termination.

 

In the event that the Recipient ceases to
be an Eligible Participant (as defined below) for any reason or no reason, with or without cause, all of the Restricted Shares
that are unvested as of the time of such cessation of status as an Eligible Participant shall be forfeited immediately and automatically
to the Company, without the payment of any consideration to the Recipient, effective as of such cessation of status as an Eligible
Participant. The Recipient hereby authorizes the Company to take any actions necessary or appropriate to cancel any certificate(s)
representing forfeited Restricted Shares and transfer ownership of such forfeited Restricted Shares to the Company; and if the
Company or its transfer agent requires an executed stock power or similar confirmatory instrument in connection with such cancellation
and transfer, the Recipient shall promptly execute and deliver the same to the Company. The Recipient shall have no further rights
with respect to any Restricted Shares, or any Accrued Dividends (as defined in the Plan) with respect to such Restricted Shares,
that are so forfeited. If the Recipient is employed by a subsidiary of the Company, any references in this Agreement to employment
with the Company shall instead be deemed to refer to employment with such subsidiary. For purposes hereof, an “Eligible Participant”
means an employee, director or officer of, or a consultant or advisor to, the Company

 

    	 

    	 

    

  

4.           Restrictions
on Transfer.

 

The Recipient shall not sell, assign, transfer,
pledge, encumber, hypothecate or otherwise dispose of, by operation of law or otherwise (collectively “transfer”) any
Restricted Shares, or any interest therein, except as permitted by Section 8(a) of the Plan or as otherwise approved by the Board.

 

5.           Restrictive
Legends.

 

The stock certificate or book entry account
reflecting the issuance of the Restricted Shares in the name of the Recipient shall bear a legend or other notation upon substantially
the terms:

 

“These
shares of stock are subject to forfeiture provisions and restrictions on transfer set forth in a certain Restricted Stock Agreement
between the corporation and the registered owner of these shares (or his or her predecessor in interest), and such Agreement is
available for inspection without charge at the office of the Secretary of the corporation.”

 

6.           Provisions
of the Plan.

 

This Agreement is subject to the provisions
of the Plan, a copy of which is furnished to the Recipient with this Agreement.

 

7.           Tax
Matters.

 

(a)          Acknowledgments;
Section 83(b) Election. The Recipient acknowledges that he or she is responsible for obtaining the advice of the Recipient’s
own tax advisors with respect to the acquisition of the Restricted Shares and the Recipient is relying solely on such advisors
and not on any statements or representations of the Company or any of its agents with respect to the tax consequences relating
to the Restricted Shares. The Recipient understands that the Recipient (and not the Company) shall be responsible for the Recipient’s
tax liability that may arise in connection with the acquisition, vesting and/or disposition of the Restricted Shares and any Accrued
Dividends with respect to such Restricted Shares. The Recipient acknowledges that he or she has been informed of the availability
of making an election under Section 83(b) of the Internal Revenue Code, as amended, with respect to the issuance of the Restricted
Shares and that the Recipient has decided not to file a Section 83(b) election.

 

(b)          Withholding.
The Recipient acknowledges and agrees that the Company has the right to deduct from payments of any kind otherwise due to the Recipient
any federal, state, local or other taxes of any kind required by law to be withheld with respect to the vesting of the Restricted
Shares. On each date on which Restricted Shares vest, the Company shall deliver written notice to the Recipient of the amount of
withholding taxes due with respect to the vesting of the Restricted Shares that vest on such date; provided, however, that the
total tax withholding cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding
rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). The
Recipient shall satisfy such tax withholding obligations by (i) making a cash payment to the Company on the date of vesting of
the Restricted Shares, in the amount of the Company’s withholding obligation in connection with the vesting of such Restricted
Shares or (ii) transferring to the Company, on each date on which Restricted Shares vest under this Agreement, such number of Restricted
Shares that vest on such date as have a fair market value (calculated using the last reported sale price of the common stock of
the Company on NASDAQ on the trading date immediately prior to such vesting date) equal to the amount of the Company’s tax
withholding obligation in connection with the vesting of such Restricted Shares. To effect such delivery of Restricted Shares,
the Recipient hereby authorizes the Company to take any actions necessary or appropriate to cancel any certificate(s) representing
such Restricted Shares and transfer ownership of such Restricted Shares to the Company; and if the Company or its transfer agent
requires an executed stock power or similar confirmatory instrument in connection with such cancellation and transfer, the Recipient
shall promptly execute and deliver the same to the Company, or if represented by book entry form, such delivery of Restricted Shares
to the Company shall be deemed to happen automatically, without any action required on the part of the Recipient, and the Company
is hereby authorized to take such actions as are necessary to effect such delivery.

 

    	 

    	 

    

  

8.           Miscellaneous.

 

(a)          [No
Right to Continued Employment. The Recipient acknowledges and agrees that, notwithstanding the fact that the vesting of the
Restricted Shares is contingent upon his or her continued employment by the Company, this Agreement does not constitute an express
or implied promise of continued employment or confer upon the Recipient any rights with respect to continued employment by the
Company.]

 

(b)          Governing
Law. This Agreement shall be construed, interpreted and enforced in accordance with the internal laws of the State of Delaware
without regard to any applicable conflicts of laws provisions.

 

(c)          Recipient’s
Acknowledgments. The Recipient acknowledges that he or she has read this Agreement, has received and read the Plan, and understands
the terms and conditions of this Agreement and the Plan.

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