Warrant Extension Agreement between BioRestorative Therapies, Inc. and John M. Desmarais
BioRestorative Therapies, Inc. and John M. Desmarais have agreed to extend the expiration dates of two warrants previously issued to Mr. Desmarais, allowing him to purchase a total of 844,444 shares of the company's common stock. The new expiration date for both warrants is December 31, 2018. This extension is granted in consideration of a $60,000 loan made by Mr. Desmarais to the company. All other terms of the original warrants remain unchanged.
Exhibit 10.68
December 14, 2016
John M. Desmarais
26 Deer Creek Lane
Mt. Kisco, New York 10549
Dear John:
Reference is made to the Promissory Note of even date from BioRestorative Therapies, Inc. (the “Company”) to you with respect to a loan made by you to the Company in the amount of $60,000.
In consideration of your loan, the Company agrees that the expiration dates of the Warrants, dated March 18, 2016, issued to you for the purchase of 444,444 and 400,000 shares of the Company’s Common Stock, respectively (the “Warrants”), are extended to December 31, 2018.
Except as modified herein, the Warrants shall continue in full force and effect in accordance with their terms.
| Very truly yours, | ||
| BioRestorative Therapies, Inc. | ||
| By: | ||
| Mark Weinreb, Chief Executive Officer | ||
