Amendment to Employment Agreement between BioRestorative Therapies, Inc. and Mark Weinreb (March 6, 2014)
BioRestorative Therapies, Inc. and Mark Weinreb have agreed to amend Mr. Weinreb's Employment Agreement. For the 2013 calendar year, his base salary is set at $360,000, and he will not receive a bonus for that year. All other terms of the original Employment Agreement remain unchanged and in effect.
BioRestorative Therapies, Inc.
555 Heritage Drive
Jupiter, Florida 33458
| March 6, 2014 |
Mr. Mark Weinreb
c/o BioRestorative Therapies, Inc.
555 Heritage Drive
Jupiter, Florida 33458
Dear Mr. Weinreb:
Reference is made to that certain Employment Agreement, dated as of October 4, 2010, between BioRestorative Therapies, Inc. (formerly known as Stem Cell Assurance, Inc.) (the “Company”) and Mark Weinreb (the “Employee”), as amended (the “Employment Agreement”). All capitalized terms used but not defined herein shall have the respective meanings set forth in the Employment Agreement.
The parties hereby agree that, notwithstanding the provisions of the Employment Agreement, (i) the Employee’s Base Salary for the calendar year ended December 31, 2013 shall be $360,000 and (ii) the Employee shall not be entitled to receive any Bonus with respect to the calendar year ended December 31, 2013.
Except as amended hereby, the Employment Agreement shall continue in full force and effect in accordance with its terms.
| Very truly yours, | ||
| BioRestorative Therapies, Inc. | ||
| By: | ||
| Mandy Clyde | ||
| Vice President of Operations | ||
| Agreed: | |
| Mark Weinreb |
