Document:

Exhibit 10.62

 

STOCK OPTION AGREEMENT,
made as of the 7th day of December, 2012, between BIORESTORATIVE THERAPIES, INC., a Nevada corporation (the “Company”),
and Mandy ClYDE (the “Optionee”).

 

 

 

WHEREAS, the
Optionee is an employee of the Company or a parent or subsidiary thereof;

 

WHEREAS, the
Company desires to provide to the Optionee an additional incentive to promote the success of the Company.

 

NOW, THEREFORE,
in consideration of the foregoing, the Company hereby grants to the Optionee the right and option to purchase shares of Common
Stock of the Company under and pursuant to the terms and conditions of the Company’s 2010 Equity Participation Plan (the
“Plan”) and upon and subject to the following terms and conditions:

 

1.           GRANT
OF OPTION. The Company hereby grants to the Optionee the right and option (the “Option”) to purchase up to
Two Million Five Hundred Thousand (2,500,000) shares of Common Stock of the Company (the “Option Shares”) during the
following periods:

 

(a)          All
or any part of One Million Two Hundred Fifty Thousand (1,250,000) shares of Common Stock may be purchased during the period commencing
on the date hereof and terminating at 5:00 P.M. on December 7, 2022 (the “Expiration Date”).

 

(b)          All
or any part of One Million Two Hundred Fifty Thousand (1,250,000) shares of Common Stock may be purchased during the period commencing
at 12:01 A.M on December 7, 2013 and terminating at 5:00 P.M. on the Expiration Date.

 

2.           NATURE
OF OPTION. The Option is not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as
amended, relating to “incentive stock options”.

 

3.           EXERCISE
PRICE. The exercise price of each of the Option Shares shall be Three Cents ($0.03) (the “Exercise Price”).
The Company shall pay all original issue or transfer taxes on the exercise of the Option.

 

4.           EXERCISE
OF OPTIONS. (a) The Option shall be exercised in accordance with the provisions of the Plan. As soon as practicable after
the receipt of notice of exercise and payment of the Exercise Price as provided for in the Plan, the Company shall tender to the
Optionee a certificate issued in the Optionee’s name evidencing the number of Option Shares covered thereby.

 

(b)          The
Company agrees that, as contemplated in Section 13(b) of the Plan, the Optionee may elect to have the Company reduce the number
of Option Shares otherwise issuable by a number of Option Shares having a Fair Market Value (as defined in the Plan) equal to the
exercise price of the Option being exercised. In the event of such election, the Company shall issue to the Optionee a number of
Option Shares computed using the following formula:

    	 

    	 

    

 

	X	=	Y (A-B)
	 	 	      A
	 	 	 
	Where X	=	the number of Option Shares to be issued to the Optionee
	 	 	 
	Y	=	the number of Option Shares subject to this Option (or the portion thereof being cancelled)
	 	 	 
	A	=	the Fair Market Value of one Option Share
	 	 	 
	B	=	the Exercise Price

 

5.           TRANSFERABILITY.
The Option shall not be transferable other than by will or the laws of descent and distribution and, during the Optionee’s
lifetime, shall not be exercisable by any person other than the Optionee.

 

6.           INCORPORATION
BY REFERENCE. The terms and conditions of the Plan are hereby incorporated by reference and made a part hereof.

 

7.           NOTICES.
Any notice or other communication given hereunder shall be deemed sufficient if in writing and hand delivered or sent by registered
or certified mail, return receipt requested, addressed to the Company, 555 Heritage Drive, Suite 130, Jupiter, Florida 33458, Attention:
Chief Executive Officer, and to the Optionee at the address indicated below. Notices shall be deemed to have been given on the
date of hand delivery or mailing, except notices of change of address, which shall be deemed to have been given when received.

 

8.           BINDING
EFFECT. This Stock Option Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
legal representatives, successors and assigns.

 

9.           ENTIRE
AGREEMENT. This Stock Option Agreement, together with the Plan, contains the entire understanding of the parties hereto
with respect to the subject matter hereof and may be modified only by an instrument executed by the party sought to be charged.

 

10.         GOVERNING
LAW. This Stock Option Agreement shall be governed by, and construed in accordance with, the laws of the State of Nevada,
excluding choice of law rules thereof.

 

11.         EXECUTION
IN COUNTERPARTS. This Stock Option Agreement may be executed in counterparts, each of which shall be deemed to be an original,
but both of which together shall constitute one and the same instrument.

 

12.         FACSIMILE
SIGNATURES. Signatures hereon which are transmitted via facsimile, or other electronic image, shall be deemed original
signatures.

 

13.         INTERPRETATION;
HEADINGS. The provisions of this Stock Option Agreement shall be interpreted in a reasonable manner to give effect to the
intent of the parties hereto. The headings and captions under sections and paragraphs of this Stock Option Agreement are for convenience
of reference only and do not in any way modify, interpret or construe the intent of the parties or affect any of the provisions
of this Stock Option Agreement.

 

    	2

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Stock Option Agreement as of the day and year first above written.

 

	 	BIORESTORATIVE THERAPIES, INC.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name: Mark Weinreb
	 	 	Title: Chief Executive Officer
	 	 	 
	 	 	 
	 	 	Signature of Optionee
	 	 	 
	 	 	 
	 	 	Mandy Clyde
	 	 	Name of Optionee
	 	 	 
	 	 	 
	 	 	Address of Optionee

 

    	3Exhibit 10.63

 

STEM CELL CAYMAN LTD.

 

MARCH 26, 2013

 

PROMISSORY NOTE

DUE JULY 31, 2014

 

STEM CELL CAYMAN LTD.,
a Cayman Islands corporation (the “Company”), for value received, hereby promises to pay to WESTBURY (BERMUDA) LTD.
or order (the “Holder”) on July 31, 2014 (the “Maturity Date’) at the offices of the Company, c/o Campbells,
4th Floor, Scotia Centre, Albert Panton Street, George Town, Grand Cayman, Cayman Islands, the principal sum of FOUR
HUNDRED FIFTY THOUSAND ($450,000) DOLLARS, without interest.

 

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

 

2.           Events
of Default. If the Company shall (i) admit in writing its inability to pay its debts generally as they mature; (ii) make
a general assignment for the benefit of creditors; (iii) be adjudicated a bankrupt or insolvent; (iv) file a voluntary petition
in bankruptcy or a petition or an answer seeking an arrangement with creditors; (v) take advantage of any bankruptcy, insolvency
or readjustment of debt law or statute or file an answer admitting the material allegations of a petition filed against it in any
proceeding under any such law; (vi) apply for or consent to the appointment of a receiver, trustee or liquidator for all or substantially
all of its assets; or (vii) have an involuntary case commenced against it under any bankruptcy law, which case is not dismissed
or stayed within sixty (60) days (each an “Event of Default”), then, at any time thereafter and unless such Event of
Default shall have been cured or shall have been waived in writing by the Holder, the Holder may, by written notice to the Company,
declare the entire unpaid principal amount of this Note then outstanding to be forthwith due and payable, whereupon the same shall
become forthwith due and payable.

 

    	 

    	 

    

 

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

 

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

 

If to the Holder:

 

Victoria Hall

11 Victoria Street

PO Box HM 1065

Hamilton HM EX

Bermuda

 

If to the Company:

 

c/o Campbells

4th Floor,
Scotia Centre

Albert Panton Street

George Town, Grand Cayman

Cayman Islands

Attn: John Wolf

Facsimile No.: (345)
949-8613

 

With a copy to

 

c/o Campbells

4th Floor,
Scotia Centre

Albert Panton Street

George Town, Grand Cayman

Cayman Islands

Attn: John Wolf

Facsimile No.: (345)
949-8613

 

or at such other address as the Holder
or the Company shall designate by notice to the other given in accordance with this Section 4.

 

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

 

    	2

    	 

    

 

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

 

	 	STEM CELL CAYMAN LTD.
	 	 	 
	 	By:	 

 

    	 

    	 

    

 

STEM CELL CAYMAN LTD.

 

PROMISSORY NOTE

 

DUE JULY 31, 2014

 

NOTE ASSIGNMENT FORM 

 

FOR VALUE RECEIVED 

 

The undersigned _____________________________
(please print or typewrite name of assignor) hereby sells, assigns and transfers unto ________________________________________________________________ (please print
or typewrite name, address and social security or taxpayer identification number, if any, of assignee) the within Promissory Note
of Stem Cell Cayman Ltd., dated March 26, 2013, in the original principal amount of $450,000 and hereby authorizes the Company
to transfer this Note on its books.

 

	If the Holder is an individual:	 	 	 
	 	 	 	 
	 	 	 
	Name(s) of Holder	 	Name of Holder
	 	 	 	 
	 	 	By:	 
	Signature of Holder	 	Signature of Authorized Representative
	 	 	 	 
	 	 	 
	Signature, if jointly held	 	Name and Title of Authorized
	 	 	Representative
	 	 	 	 
	 	 	 
	Date	 	Date

 

	 	 	 
	 	(Signature(s) guaranteed)

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