Document:

Exhibit 10.1

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AND MAY NOT
BE SOLD, TRANSFERRED OR ASSIGNED UNLESS SO REGISTERED OR AN EXEMPTION FROM
REGISTRATION UNDER SAID ACT IS AVAILABLE.

                                                                           No. 3

                        BRAINSTORM CELL THERAPEUTICS INC.

             10% Convertible Promissory Note Due September 14, 2007

U.S.$100,000                                                 New York, New York
                                                             September 14, 2006

      BrainStorm Cell Therapeutics Inc., a Washington corporation (the
"Company"), for value received, hereby promises to pay to Vivian Shaltiel or
registered assigns (the "Holder"), the principal sum of U.S. One Hundred
Thousand Dollars ($100,000) plus all accrued but unpaid interest on September
14, 2007 (the "Maturity Date"). Interest shall be computed on the basis of a
365-day year from the date hereof on the unpaid balance of such principal amount
from time to time outstanding at the rate of ten percent (10%) per annum, such
interest to be due and payable in full on the Maturity Date.

      This Note shall become immediately due and payable without notice or
demand upon the occurrence at any time of any of the following events of default
(individually, "an Event of Default" and collectively, "Events of Default"):

      1.    default in the payment or performance of this or any other liability
            or obligation of the Company to the Holder, including the payment
            when due of any principal, premium or interest under this Note;

      2.    the liquidation, termination of existence, dissolution, insolvency
            or business failure of the Company, or the appointment of a receiver
            or custodian for the Company or any part of its property if such
            appointment is not terminated or dismissed within sixty (60) days;
            or

      3.    the institution by or against the Company or any indorser or
            guarantor of this Note of any proceedings under the United States
            Bankruptcy Code or any other federal or state bankruptcy,
            reorganization, receivership, insolvency or other similar law
            affecting the rights of creditors generally or the making by the
            Company or any indorser or guarantor of this Note of a composition
            or an assignment or trust mortgage for the benefit of creditors; or

Upon the occurrence of an Event of Default, the Holder shall have then, or at
any time thereafter, all of the rights and remedies afforded by the Uniform
Commercial Code as from time to time in effect in the State of New York or
afforded by other applicable law.
<PAGE>

Every amount overdue under this Note shall bear interest from and after the date
on which such amount first became overdue at an annual rate which is five (5)
percentage points above the rate per year specified in the first paragraph of
this Note. Such interest on overdue amounts under this Note shall be payable on
demand and shall accrue and be compounded monthly until the obligation of the
Company with respect to the payment of such interest has been discharged
(whether before or after judgment).

In no event shall any interest charged, collected or reserved under this Note
exceed the maximum rate then permitted by applicable law and if any such payment
is paid by the Company, then such excess sum shall be credited by the Holder as
a payment of principal.

All payments by the Company under this Note shall be made without set-off or
counterclaim and be free and clear and without any deduction or withholding for
any taxes or fees of any nature whatever, unless the obligation to make such
deduction or withholding is imposed by law. The Company shall pay and save the
Holder harmless from all liabilities with respect to or resulting from any delay
or omission to make any such deduction or withholding required by law.

Whenever any amount is paid under this Note, all or part of the amount paid may
be applied to principal, premium or interest in such order and manner as shall
be determined by the Holder in its discretion.

No reference in this Note to any guaranty or other document shall impair the
obligation of the Company, which is absolute and unconditional, to pay all
amounts under this Note strictly in accordance with the terms of this Note.

The Company agrees to pay on demand all costs of collection, including
reasonable attorneys' fees, incurred by the Holder in enforcing the obligations
of the Company under this Note.

No delay or omission on the part of the Holder in exercising any right under
this Note shall operate as a waiver of such right or of any other right of such
Holder, nor shall any delay, omission or waiver on any one occasion be deemed a
bar to or waiver of the same or any other right on any future occasion. The
Company and every indorser or guarantor of this Note regardless of the time,
order or place of signing waives presentment, demand, protest and notices of
every kind and assents to any extension or postponement of the time of payment
or any other indulgence, to any substitution, exchange or release of collateral,
and to the addition or release of any other party or person primarily or
secondarily liable.

      1.    Conversion. The Holder of this Note has the right, at its option, at
            any time and from time to time prior to the close of business on the
            Maturity Date to convert all or part of the outstanding principal
            and interest amount of this Note into fully-paid and non-assessable
            shares of Common Stock, $0.00005 par value per share, of the Company
            ("Common Stock"). The number of shares of Common Stock that shall be
            issued upon conversion of this Note shall be calculated by dividing
            the amount of outstanding principal and interest that the Holder
            elects to convert by the average of the Conversion Price. The
            Conversion Price shall mean 75% of the average of the last bid and
            ask price of the Common Stock as quoted on the Over-the-Counter
            Bulletin Board or such other exchange where the Common Stock is
            quoted or listed for the five trading days ending the day prior to
            the Company's receipt of the Holder's written notice of election to
            convert. In order to exercise this optional conversion privilege,
            the Holder of this Note shall surrender this Note to the Company
            during usual business hours at the Company's principal executive
            office, accompanied by written notice in form satisfactory to the
            Company that the Holder elects to convert the principal amount of
            this Note or a portion hereof specified in such notice. Such notice
            shall also state the name or names (with address and Social Security
            number or federal tax identification number) in which the
            certificate or certificates for shares of Common Stock which shall
            be issuable on such conversion shall be issued. Notwithstanding the
            foregoing or anything to the contrary, upon the occurrence of an
            Event of Default (unless waived by the Holder), the Conversion Price
            shall mean 50% of the average of the last bid and ask price of the
            Common Stock as quoted on the Over-the-Counter Bulletin Board or
            such other exchange where the Common Stock is quoted or listed for
            the five trading days ending the day prior to the Company's receipt
            of the Holder's written notice of election to convert.

                                       2
<PAGE>

      2.    Conversion Cap. In no event shall the Company issue greater than
            10,000,000 shares of Common Stock, in the aggregate, to the Holder
            upon conversion of this Convertible Promissory Note.

      3.    Surrender of Note and Delivery of Certificates. When surrendered for
            optional or mandatory conversion this Note shall, unless the shares
            issuable on conversion are to be issued in the same name as the name
            in which this Note is then registered, be duly endorsed by, or
            accompanied by instruments of transfer in form satisfactory to the
            Company duly executed by, the Holder or her or its duly authorized
            attorney. As promptly as practicable after the surrender of this
            Note for conversion and the receipt of the notice specified above
            (in the case of optional conversion), the Company shall deliver or
            cause to be delivered at its principal executive office to the
            Holder, or on the Holder's written order, a certificate or
            certificates for the number of full shares issuable upon the
            conversion of this Note, or portion hereof, in accordance with the
            provisions hereof. Such conversion shall be deemed to have been made
            at the time this Note shall have been surrendered for conversion and
            the notice specified above (in the case of optional conversion)
            shall have been received by the Company at its principal executive
            office (the "Conversion Date"), and the holder in whose name any
            certificate or certificates for shares of Common Stock shall be
            issuable upon such conversion shall be deemed to have become on the
            Conversion Date the holder of record of the shares represented
            thereby. If less than the entire outstanding principal amount of
            this Note is being converted (in the case of optional conversion), a
            new Note shall promptly be delivered to the Holder for the
            unconverted principal balance and shall be of like tenor as to all
            terms as the Note surrendered.

      4.    Adjustment of Conversion Price.

            (i)   In case the Company shall:

                        (A) declare a dividend of Common Stock on its Common
                        Stock,

                        (B) subdivide outstanding Common Stock into a larger
                        number of shares of Common Stock by reclassification,
                        stock split or otherwise, or

                        (C) combine outstanding Common Stock into a smaller
                        number of shares of Common Stock by reclassification or
                        otherwise,

                                       3
<PAGE>

            then the number of shares of Common Stock issuable upon conversion
            of this Note immediately prior to any such event shall be adjusted
            proportionately so that thereafter the Holder of this Note shall be
            entitled to receive upon conversion of this Note the number of
            shares of Common Stock which such Holder would have owned after the
            happening of any of the events described above had this Note been
            converted immediately prior to the happening of such event, provided
            that the Conversion Price shall in no event be reduced to less than
            the par value of the shares issuable upon conversion. Such
            adjustment shall become effective immediately after the record date
            in the case of a dividend and shall become effective immediately
            after the effective date in the case of a subdivision or
            combination.

            (ii)  If, prior to the Maturity Date, the Company shall at any time
                  consolidate or merge with another corporation (other than a
                  merger or consolidation in which the Company is the surviving
                  corporation), the registered holder hereof will thereafter be
                  entitled to receive, upon the conversion hereof, the
                  securities or property to which a holder of the number of
                  shares of Common Stock then deliverable upon the conversion
                  hereof would have been entitled upon such consolidation or
                  merger, and the Company shall take such steps in connection
                  with such consolidation or merger as may be necessary to
                  ensure that the provisions hereof shall thereafter be
                  applicable, as nearly as reasonably may be, in relation to any
                  securities or property thereafter deliverable upon the
                  conversion of this Note.

      5. Statement of Adjustment. Whenever the Conversion Price shall be
adjusted as provided in herein, the Company shall provide the Holder with a
statement, signed by the Chairman of the Board, the President, any Vice
President, the Treasurer or Secretary of the Company, showing in reasonable
detail the facts requiring such adjustment and the Conversion Price that will be
effective after such adjustment. The Company shall also cause a notice setting
forth any such adjustment to be sent by mail, first class, postage prepaid, to
the record holder of the Note at his or its last known address appearing on the
records of the Company.

      6. Fractional Shares. No fractional shares of Common Stock shall be
issuable upon conversion of this Note, but a payment in cash will be made in
respect of any fraction of a share which would otherwise be issuable upon the
surrender of this Note, or portion hereof, for conversion. Such payment shall be
based on the Conversion Price.

      7. Accrued Interest. Upon the conversion of this Note, the Company shall
not be required to pay any accrued but unpaid interest on the amount so
converted up to the Conversion Date.

      8. Securities Act of 1933. Upon conversion of this Note, the registered
holder may be required to execute and deliver to the Company an instrument, in
form satisfactory to the Company, representing that the shares issuable upon
conversion hereof are being acquired for investment and not with a view to
distribution within the meaning of the Securities Act of 1933, as amended.

      9. Prepayment of Principal. The principal indebtedness represented by this
Note may be prepaid in whole or in part, with ten (10) days prior written notice
to the Holder of this Note.

                                       4
<PAGE>

      10. Successors and Assigns. This Note, and the obligations and rights of
the Company hereunder, shall be binding upon and inure to the benefit of the
Company, the Holder of this Note, and their respective heirs, successors and
assigns.

      11. Recourse. Recourse under this Note shall be to the general unsecured
assets of the Company only and in no event to the officers, directors or
stockholders of the Company.

      12. Changes. Changes in or additions to this Note may be made or
compliance with any term, covenant, agreement, condition or provision set forth
herein may be omitted or waived (either generally or in a particular instance
and either retroactively or prospectively), upon written consent of the Company
and the Holder.

      13. Currency. All payments shall be made in such coin or currency of the
United States of America as at the time of payment shall be legal tender therein
for the payment of public and private debts.

      14. Notices. All notices, requests, consents and demands shall be made in
writing and shall be mailed postage prepaid, or delivered by hand, to the
Company or to the Holder hereof at their respective addresses set forth below or
to such other address as may be furnished in writing to the other party hereto:

                  If to the Holder:

                  Vivian Shaltiel
                  P.O.B 12526
                  Herzelia
                  Israel 46733

                  If to the Company:

                  BrainStorm Cell Therapeutics Inc.
                  110 East 59th Street
                  New York, New York  10022
                  Attention:  Chief Financial Officer

                  with a copy to:

                  BRL Law Group LLC
                  31 St. James Avenue, Suite 850
                  Boston, MA 02116
                  Attention:  Thomas B. Rosedale
                  Facsimile:  617-399-6930

      15. Saturdays, Sundays, Holidays. If any date that may at any time be
specified in this Note as a date for the making of any payment of principal or
interest under this Note shall fall on Saturday, Sunday or on a day which in the
New York, New York shall be a legal holiday, then the date for the making of
that payment shall be the next subsequent day which is not a Saturday, Sunday or
legal holiday.

                                       5
<PAGE>

      16. Governing Law. This Note shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the laws of the State
of New York.

      IN WITNESS WHEREOF, this Note has been executed and delivered as a sealed
instrument on the date first above written by the duly authorized representative
of the Company.

                                          BRAINSTORM CELL THERAPEUTICS INC.

                                          By: /s/ Yoram Drucker
                                              ----------------------------------
                                          Title:  Chief Operating Officer

Agreed and Accepted this 14th day of September, 2006:

By: /s/ Vivian Shaltiel
    --------------------
Vivian Shaltiel

                                       6OPTION/
      PURCHASE AGREEMENT

     

    

    THIS
      AGREEMENT (“Agreement”), dated as of September 12, 2006, is by and between Titan
      Global Holdings, Inc. ("TITAN"), and Laurus Master Fund, Ltd. (“LAURUS”)
      (collectively, the “PARTIES”).

    

    W
      I T N E S S E T H

    

    WHEREAS,
      LAURUS owns approximately 2,500,000 shares of Common Stock of TITAN (the
“Shares”).

    

    WHEREAS,
      LAURUS desires to grant to TITAN, the call option to repurchase an aggregate
      of
      1,250,000 of the Shares, from the date hereof through December 31, 2006, free
      and clear of all liens, claims, and encumbrances thereon (the "Option Shares")
      in consideration for the purchase price and upon the terms and conditions
      hereinafter set forth; and

     

    NOW
      THEREFORE, in consideration of the promises and respective mutual agreements
      herein contained, it is agreed by and between the PARTIES hereto as
      follows:

     

    ARTICLE
      1

    OPTION

    

    1.1 Grant
      of Option.
      Upon
      execution of this Agreement (the "Closing"), subject to the terms and conditions
      herein set forth, and on the basis of the representations, warranties and
      agreements herein contained, LAURUS shall grant to TITAN the right and option
      to
      repurchase (the “Option”) pursuant to the terms hereof up to an aggregate of
      1,250,000 shares of common stock of TITAN which shares are beneficially owned
      by
      LAURUS. Exercise of the Option by TITAN is subject to the prior repayment,
      on or
      before December 31, 2006, of all outstanding amounts (the “Outstanding Amounts”)
      owed by TITAN to LAURUS pursuant to those certain secured revolving note dated
      November 20, 2003, minimum borrowing note dated November 20, 2003, convertible
      term note dated March 30, 2004 and convertible term note dated November 20,
      2003, in each case issued by TITAN to Laurus. 

    

    1.2 Consideration
      for the Option.
      At the
      closing, in consideration for the grant of the Option by LAURUS, TITAN shall
      pay
      to LAURUS the sum of five hundred ($500) dollars. LAURUS agrees that its receipt
      of such funds shall constitute payment in full for the Option.

    

    1.3 Terms
      of the Option.
      Pursuant to the Option, TITAN shall be entitled to receive the Option Shares
      upon exercise of the Option, by delivery of written notice (the “Exercise
      Notice”) and the purchase price of five hundred ($500) dollars, provided that
      all Outstanding Amounts have been paif by TITAN to LAURUS. 

    

    Within
      two (2) business days of LAURUS’ receipt of the Exercise Notice, LAURUS shall
      return its certificate(s) representing the Option Shares, duly endorsed for
      transfer, to TITAN’s counsel to arrange for the transfer of the Option Shares to
      TITAN. In the event a certificate for a greater number of shares is submitted,
      counsel will arrange for the reissuance of a certificate to LAURUS evidencing
      the balance of the shares. 

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
      2

    REPRESENTATIONS
      AND COVENANTS OF LAURUS 

    

    2.1 LAURUS
      hereby represents and warrants that:

    

    (a) The
      grant
      of the Option and transfer of the Option Shares hereunder have been duly
      authorized by the appropriate corporate action of LAURUS.

    

    (b) Upon
      exercise of the Option, LAURUS shall transfer title, in and to the Option Shares
      to TITAN free and clear of all liens, security interests, pledges, encumbrances,
      charges, demands and claims, of any kind and nature whatsoever, whether direct
      or indirect or contingent.

     

    

    

    ARTICLE
      3

    MISCELLANEOUS

    

    3.1 Entire
      Agreement.
      This
      Agreement sets forth the entire agreement and understanding of the parties
      hereto with respect to the transactions contemplated hereby, and supersedes
      all
      prior agreements, arrangements and understandings related to the subject matter
      hereof. No understanding, promise, inducement, statement of intention,
      representation, warranty, covenant or condition, written or oral, express or
      implied, whether by statute or otherwise, has been made by any party hereto
      which is not embodied in this Agreement or the written statements, certificates,
      or other documents delivered pursuant hereto or in connection with the
      transactions contemplated hereby, and no party hereto shall be bound by or
      liable for any alleged understanding, promise, inducement, statement,
      representation, warranty, covenant or condition not so set forth.

    

    3.2 Notices.
      Any
      notice, request, instruction, or other document required by the terms of this
      Agreement, or deemed by any of the parties hereto to be desirable, to be given
      to any other party hereto shall be in writing and shall be given by facsimile,
      personal delivery, overnight delivery, or mailed by registered or certified
      mail, postage prepaid, with return receipt requested. If notice is given by
      facsimile, personal delivery, or overnight delivery in accordance with the
      provisions of this Section, said notice shall be conclusively deemed given
      at
      the time of such delivery. If notice is given by mail in accordance with the
      provisions of this Section, such notice shall be conclusively deemed given
      seven
      days after deposit thereof in the United States mail. 

    

    3.3 Waiver
      and Amendment.
      Any
      term, provision, covenant, representation, warranty or condition of this
      Agreement may be waived, but only by a written instrument signed by the party
      entitled to the benefits thereof. The failure or delay of any party at any
      time
      or times to require performance of any provision hereof or to exercise its
      rights with respect to any provision hereof shall in no manner operate as a
      waiver of or affect such party's right at a later time to enforce the same.
      No
      waiver by any party of any condition, or of the breach of any term, provision,
      covenant, representation or warranty contained in this Agreement, in any one
      or
      more instances, shall be deemed to be or construed as a further or continuing
      waiver of any such condition or breach or waiver of any other condition or
      of
      the breach of any other term, provision, covenant, representation or warranty.
      No modification or amendment of this Agreement shall be valid and binding unless
      it be in writing and signed by all parties hereto.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    3.4 Choice
      of Law.
      This
      Agreement and the rights of the parties hereunder shall be governed by and
      construed in accordance with the laws of the State of New York including all
      matters of construction, validity, performance, and enforcement and without
      giving effect to the principles of conflict of laws.

    

    3.5 Jurisdiction.
      The
      parties submit to the jurisdiction of the Courts of the County of New York,
      State of New York or a Federal Court empaneled in the State of New York for
      the
      resolution of all legal disputes arising under the terms of this Agreement,
      including, but not limited to, enforcement of any arbitration
      award.

    

    3.6 Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed an original, but all of which shall together constitute one and the
      same
      instrument. 

     

    3.7 Attorneys'
      Fees.
      Except
      as otherwise provided herein, if a dispute should arise between the parties
      including, but not limited to arbitration, the prevailing party shall be
      reimbursed by the non-prevailing party for all reasonable expenses incurred
      in
      resolving such dispute, including reasonable attorneys' fees exclusive of such
      amount of attorneys' fees as shall be a premium for result or for risk of loss
      under a contingency fee arrangement.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
 

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement, as of the
      date
      first written hereinabove.

     

    
      	 	 	 
	 	TITAN
              GLOBAL HOLDINGS, INC. 
	 
 	 
 	 
 
	 	By:  	/s/ David
              M. Marks
	 	
              
Name:
David
              M. Marks
	 	Title:
              Chairman 

      	 	 	 
	 	LAURUS
              MASTER FUND, LTD.
	 
 	 
 	 
 
	 	By:  	/s/ David
              Grin
	 	
              
Name:
David
              Grin
	 	Title:
              Director

    

     

    

    
      
         

      

      
        4

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