SEC Contract Filing

Filing Date: 2015-03-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.67
<SEQUENCE>8
<FILENAME>v404782_ex10-67.htm
<DESCRIPTION>EXHIBIT 10.67
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><B>Exhibit 10.67</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>STOCK OPTION AGREEMENT</B>,
made as of the 23rd day of October, 2014, between <B>BIORESTORATIVE THERAPIES, INC.,</B> a Nevada corporation (the &ldquo;Company&rdquo;),
and <FONT STYLE="text-transform: uppercase"><B>Francisco Silva</B></FONT> (the &ldquo;Optionee&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Optionee
is an employee of the Company or a parent or subsidiary thereof; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Company
desires to provide to the Optionee an additional incentive to promote the success of the Company.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>NOW</B>, <B>THEREFORE</B>,
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&rsquo;s 2010 Equity Participation Plan (the
&ldquo;Plan&rdquo;) and upon and subject to the following terms and conditions:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>GRANT
OF OPTION</U></B>. The Company hereby grants to the Optionee the right and option (the &ldquo;Option&rdquo;) to purchase up to
Seven Hundred Fifty Thousand (750,000) shares of Common Stock of the Company (the &ldquo;Option Shares&rdquo;) during the following
periods:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
or any part of Two Hundred Fifty Thousand (250,000) shares of Common Stock may be purchased during the period commencing at 12:01
A.M. on October 23, 2015 and terminating at 5:00 P.M. on October 23, 2024 (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
or any part of Two Hundred Fifty Thousand (250,000) shares of Common Stock may be purchased during the period commencing at 12:01
A.M on October 23, 2016 and terminating at 5:00 P.M. on the Expiration Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
or any part of Two Hundred Fifty Thousand (250,000) shares of Common Stock may be purchased during the period commencing at 12:01
A.M on October 23, 2017 and terminating at 5:00 P.M. on the Expiration Date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>NATURE
OF OPTION</U></B>. The Option is not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as
amended, relating to &ldquo;incentive stock options&rdquo;.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>EXERCISE
PRICE</U></B>. The exercise price of each of the Option Shares shall be Thirty-Three Cents ($0.33) (the &ldquo;Exercise Price&rdquo;).
The Company shall pay all original issue or transfer taxes on the exercise of the Option.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>EXERCISE
OF OPTIONS</U></B>. (a) The Option shall be exercised in accordance with the provisions of the Plan. As soon as practicable after
the receipt of notice of e