BIORESTORATIVE THERAPIES, INC.
EXHIBIT 10.27
BIORESTORATIVE THERAPIES, INC.
000 Xxxxxxxx Xxxxx
Xxxxxxx, Xxxxxxx 00000
November 4, 2011
Mr. Xxxxxxxxx Xxxxx
00 Xxxxxx Xxxx
Xxxxxx, XX 00000
Dear Xx. Xxxxx:
Reference is made to the Amended and Restated Executive Employment Agreement, dated as of May 10, 2011, between BioRestorative Therapies, Inc. (formerly known as Stem Cell Assurance, Inc.) and Xxxxxxxxx Xxxxx (the “Agreement”).
The parties hereby agree that the first and third paragraphs of the Bonus section of Schedule A to the Agreement are deleted in their entirety and replaced with the following:
“Bonus: $20,000 and options for the purchase of 1,000,000 shares of common stock of the Company in the event that, as a direct result of the Executive’s efforts, the Company enters into (i) a material transfer agreement (or similar agreement) with a cosmetics company and (ii) a work for hire agreement (or similar agreement) with an academic institution, it being understood that the Company may reject any and all proposed agreements with regard thereto for any reason whatsoever.
$25,000 and options for the purchase of 2,000,000 shares of common stock of the Company in the event that, as a direct result of the Executive’s efforts, the Company has a scientific article published by a peer-reviewed publication.”
Except as amended hereby, the Agreement shall continue in full force and effect in accordance with its terms.
Very truly yours, | ||
BIORESTORATIVE THERAPIES, INC. | ||
By: | ||
Xxxx Xxxxxxx, | ||
Chief Executive Officer |
Agreed: | |
Xxxxxxxxx Xxxxx |