SEC Contract Filing

Filing Date: 2016-03-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.61
<SEQUENCE>3
<FILENAME>v434828_ex10-61.htm
<DESCRIPTION>EXHIBIT 10.61
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.61</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 6.25in; text-indent: 0in; text-align: justify">December
7, 2015</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Westbury FCR, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">824 Fifth Avenue South #106</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Naples, Florida 34102</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gentlemen:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
that certain Promissory Note, dated October 9, 2015 (the &ldquo;Note&rdquo;), issued by BioRestorative Therapies, Inc. (the &ldquo;Company&rdquo;)
to Westbury FCR, Inc. (the &ldquo;Lender&rdquo;) in the principal amount of $150,000 (the &ldquo;Principal Amount&rdquo;). The
Note provides that the Principal Amount is payable on December 9, 2015 (the &ldquo;Maturity Date&rdquo;). The payment of the Note
is secured by the grant by the Company, pursuant to a Security Agreement, dated October 9, 2015, between the Lender and the Company
(the &ldquo;Security Agreement&rdquo;) of a security interest in a certain patent issued to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Lender agrees that
the Company has performed all of its obligations under the Note, and the Lender hereby waives any and all defaults by the Company
under the Note. The parties agree that the Note is hereby amended such that the Maturity Date for the payment of the Principal
Amount shall be extended to March 9, 2016. Interest at the rate of 10% per annum on the Principal Amount shall continue to be payable
as provided for in the Note.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration of
the foregoing, the Company hereby agrees that the exercise prices of the warrants dated December 31, 2013, February 20, 2015 and
May 27, 2015 held by the Lender&rsquo;s affiliate, Westbury (Bermuda) Ltd., for the purchase of an aggregate of 239,182 shares
of common stock (collectively, the &ldquo;Warrants&rdquo;) are reduced to $4.00 per share, subject to adjustment as provided for
in the respective Warrants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Note may only be
amended further by a writing executed by the Company and the Lender. Except as modified herein, the Note shall continue in full
force and effect in accordance with its terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Warrants may only
be amended further by a writing executed by the Company and Westbury (Bermuda) Ltd. Except as modified herein, the Warrants shall
continue in full force and effect in accordance with their respective terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Security Agreement
shall continue in full force and effect in accordance with its terms with respect to the Note, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This letter may be
executed in counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the
same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This letter shall be
governed by, and construed in accordance with, the laws of the State of New York, excluding choice of law principles thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 5.5in; text-indent: 0in; text-align: left">Very
truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 5.5in; text-indent: 0in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 5.5in; text-indent: 0in; text-align: left">BIORESTORATIVE
THERAPIES, INC.</P>

<P