----

----

| 1.     | SERVICES: INC Research will render such services (hereinafter “Services”) as may be necessary to complete in a professional manner the project described below:                                                                                                                                                                                                                                                                                                                                                                  |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | A Randomized, Double-blind, Placebo-controlled Study to Assess the Safety and Tolerability, and Efficacy of PBT2 in Patients with Early to Mid-stage Huntington Disease (#PBT2-203)                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | INC Research will perform the Services as specified in Attachment A to this Work Order.                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 2.     | PROJECT SCHEDULE: The major project milestones and target dates are described in Attachment B to this Work Order. Both parties agree that the Project Schedule is a reasonable schedule for the Services to be performed and will put forth all reasonable efforts to comply with these dates.                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 3.     | COMPENSATION AND EXPENSES: Sponsor shall pay the fees for INC Research’s Services in accordance with the Project Budget and Payment Schedule provided in Attachment C of this Work Order. INC Research shall invoice Sponsor for taxes or duties actually incurred by INC Research which are imposed upon INC Research by any governmental agency, including, but not limited to Value Added Tax, Stamp Tax, and/or General Sales Tax, as a result of this Agreement with the exception of taxes based on INC Research’s income. |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| 4. | NOTICES AND PAYMENTS: All communications, notices and payments required under this Work Order shall be mailed by first class mail, postage prepaid, or by overnight carriers, to the respective parties at the addresses set forth below, or to such other addresses as the parties may from time to time specify in writing. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | If to Sponsor:           |                                                                                                                                                                              |
|--------|--------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                     | Caroline HerdChief Development Consultant Prana Biotechnology Limited Level 2369 Royal ParadeParkville VIC 3052 AustraliaPhone: +61 (0) 3 9349 4906Facsimile: +61 (0) 3 9348 0377 |
|   | If to INC Research:      |                                                                                                                                                                              |
|   |                     |                                                                                                                                                                              |
|   | For Communications:      | Contracts ManagementINCResearch Australia Pty Limited 124 Lipson StreetPort Adelaide SA 5015 AustraliaPhone: +61 (0) 8 8447 3500Facsimile: +61 (0) 8 8447 3511                    |
|   | For Payments (Via Wire): |                                                                                                                                                                              |
|   |                     |                                                                                                                                                                              |
|   | Beneficiary Bank:        | Bank of South Australia (A Division of St George Bank Limited)                                                                                                                    |
|   | Account Name:            | INCResearch Australia Pty Limited                                                                                                                                                 |
|   | BSB (Routing Number):    |                                                                                                                                                                              |
|   | Account Number:          |                                                                                                                                                                              |
|   | Swift:                   |                                                                                                                                                                              |

| 5. | TRANSFER OF OBLIGATIONS: Sponsor assigns the responsibilities pertaining to the Study to INC Research as indicated in Attachment A, Services. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------|

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| By:    |         |
|--------|--------------------------------------------|
|   |                                       |
| Name:  | Dianne Angus                               |
|   |                                       |
| Title: | Chief Operating Officer                    |
|   |                                       |
| Date:  | 6th August 2012                            |

| By:    |                           |
|--------|---------------------------------------------------------|
|   |                                                    |
| Name:  | Garth Tierney                                           |
|   |                                                    |
| Title: | Regional General Manager, Australia and South East Asia |
|   |                                                    |
| Date:  | 14th August 2012.                                       |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| DETAILED ASSUMPTIONS                                     |
|----------------------------------------------------------|
|                                                     |   |   |
| GENERAL                                                  |   |   |
| DRUG NAME                                                |   | PBT2 |
| INDICATION                                               |   | Huntington Disease |
| PHASE                                                    |   | 2a |
| SITES                                                    |   |   |
| NUMBER OF COUNTRIES                                      |   | 1 - Australia |
| NUMBER OF SITES                                          |   | 5 |
| NUMBER OF APPLICABLE LANGUAGES                           |   | 1 - English |
| CASE REPORT FORM (CRF)                                   |   |   |
| PAPER OR ELECTRONIC CRF                                  |   | eCRF |
| NUMBER OF PAGES PER ENROLLED PATIENT                     |   | 70 |
| TOTAL PAGES                                              |   | 2,100 |
| INVESTIGATOR MEETING                                     |   |   |
| NUMBER OF MEETING(S)                                     |   | 1 - Melbourne |
| DURATION OF MEETING(S)                                   |   | 1.5 days |
|                                                     | • | NUMBER OF SITE ATTENDEES |   | 3 attendees per site (15 total site attendees) |
|                                                     | • | NUMBER OF CUSTOMER ATTENDEES |   | 5 |
|                                                     | • | NUMBER OF INC RESEARCH ATTENDEES |   | 2 CRAs + 1 PM |
| SITE MONITORING                                          |   |   |
| NUMBER OF CRAs                                           |   | 3 - based in Sydney, Melbourne and Perth |
| NUMBER OF INITIATION VISITS                              |   | 5 |
| NUMBER OF MONITORING VISITS                              |   | 25 one-day visits - 5 visits/site |
| NUMBER OF CLOSEOUT VISITS                                |   | 5 |
| PHARMACOVIGILANCE (SAFETY)                               |   |   |
| NUMBER OF SERIOUS ADVERSE EVENTS (SAEs)                  |   | Assume 1 |
| NUMBER OF REPORTABLE SAEs                                |   | Assume 1 |
| NUMBER OF SUSPECTED UNEXPECTED SERIOUS ADVERSE REACTIONS |   | 1 |
| NUMBER OF SAEs REPORTING TO LOCAL REGULATORY AUTHORITY   |   | 1 |
| PROJECT MANAGEMENT                                       |   |   |
| NUMBER OF CUSTOMER TELECONFERENCES                       |   | 21 |
|                                                     | • | FREQUENCY OF TELECONFERENCES |   | Monthly |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| DETAILED ASSUMPTIONS |
|----------------------|
|                 | • | DURATION OF TELECONFERENCES |   | 1 hour |
|                 | • | TELECONFERENCE ATTENDEES |   | Project Manager |

| ACTIVITY                                                      |   | Prana  |   | INCResearch |
|---------------------------------------------------------------|--------|--------|--------|-------------|
| Study Start-up Activities                                     |   |   |   |        |
| Study Sponsorship - Australia                                 |   | ü |   |        |
| Protocol Development                                          |   | ü |   |        |
| Approval and Authorisation of Final Protocol                  |   | ü |   |        |
| Patient Information Sheet & Consent Template Development  |   | ü |   |        |
| Creation of Study Manual/Monitoring Guidelines                |   | ü |   |        |
| List Trial on Public Register e.g. ANZCTR, Clinicaltrials.gov |   | ü |   |        |
| Conduct Internal Team Kick-Off Meeting                        |   |   |   | ü      |
| Investigator/Site Identification                              |   | ü |   |        |
| Approval of Final Investigator’s/Sites                  |   | ü |   |        |
| Finalise Clinical Trial Agreements                            |   | ü |   |        |
| Creation and Collection of Essential Documents                |   |   |   | ü      |
| Conduct Pre-study/Site Qualification Visits                   |   | ü |   |        |
| Complete Ethics Submissions and Follow-up                     |   | ü |   |        |
| Respond to Issues Raised by the Ethics Committee              |   | ü |   |        |
| Regulatory Submissions                                        |   | ü |   |        |
| Import/Export Permit Handling                                 |   | ü |   |        |
| Customer Project Team Meetings                                |   |   |   |        |
| Attend Project Team Meeting                                   |   | ü |   | ü      |
| Organise Project Team Meeting                                 |   | ü |   |        |
| Investigator’s Meeting                                  |   |   |   |        |
| Attend Investigator’s Meeting                           |   | ü |   | ü      |
| Present at Investigator’s Meeting                       |   | ü |   |        |
| Organise Investigator’s Meeting                         |   | ü |   |        |
| Investigational Product (IP)                                  |   |   |   |        |
| IP Packaging and Labelling                                    |   | ü |   |        |
| IP Storage                                                    |   | ü |   |        |
| IP Distribution                                               |   | ü |   |        |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| ACTIVITY                                                       |   | Prana  |   | INCResearch |
|----------------------------------------------------------------|--------|--------|--------|-------------|
| IP Accountability                                              |   |   |   | ü      |
| IP Destruction                                                 |   | ü |   |        |
| Site Visits                                                    |   |   |   |        |
| Site Initiation Visits                                         |   |   |   | ü      |
| Monitoring Visits                                              |   |   |   | ü      |
| Close-out Visits                                               |   |   |   | ü      |
| Completion of Visit Reports                                    |   |   |   | ü      |
| Site Management                                                |   |   |   |        |
| Site Management                                                |   |   |   | ü      |
| Project Management                                             |   |   |   |        |
| Project Management (Local)                                     |   |   |   | ü      |
| Project Tool Development                                       |   |   |   | ü      |
| Create Master Study Files                                      |   | ü |   |        |
| Maintenance of Master Study Files During Study                 |   | ü |   |        |
| Create Investigator In-house and Site Study Files              |   |   |   | ü      |
| Maintain In-house Investigator Study Files During Study        |   |   |   | ü      |
| Manage and Make Payments to Investigators/Sites                |   | ü |   |        |
| Archiving of Study Files Post-study                            |   | ü |   |        |
| Safety Reporting & Medical Monitoring                      |   |   |   |        |
| Handling of SAEs (notification)                                |   |   |   | ü      |
| Medical Review of SAEs & Narrative Creation                |   |   |   | ü      |
| Reporting to Local Regulatory Authority                        |   |   |   | ü      |
| Follow-up of SAEs                                              |   | ü |   |        |
| Creation and Distribution of Investigator Notification Letters |   | ü |   |        |
| Medical Monitoring                                             |   | ü |   |        |
| Safety Management Plan (review)                                |   |   |   | ü      |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| Project Timeline/Activities |
|-----------------------------|
| Project Milestones          |   | Duration |   | Start Date |   | End Date |
| Pre-Study Period            |   | 3 Months |   | 1-Mar-12 |   | 31-May-12 |
| Enrolment Period            |   | 8 Months |   | 1-Jun-12 |   | 31-Dec-12 |
| Treatment Period            |   | 8 Months |   | 1-Jan-13 |   | 30-Sep-13 |
| Close-out Period            |   | 2 Months |   | 1-Oct-13 |   | 30-Nov-13 |
| Total Study Duration        |   | 21 Months |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| Service/Item                                                      |   | Comments                                                                                  |   | Responsibility  |   | Unit        |   | Unit Cost (AUD) |   | Number of Units |   | Item Cost |   | AUD$     |
|-------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------|--------|-----------------|--------|-------------|--------|-----------------|--------|-----------------|--------|-----------|--------|----------|
| Study Start Up Activities                                         |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
| Study Training/Internal Kick Off Meeting                          |   | Familiarisation, Protocol, IB                                                             |   | CRA             |   | per CRA     |   | 1123            |   | 3.00            |   | 3,370     |   |     |
| Study Training/Internal Kick Off Meeting                          |   | Familiarisation, Protocol, IB                                                             |   | PM              |   | per PM      |   | 1290            |   | 1.00            |   | 1,290     |   |     |
| Essential Document Collection                                     |   | Creation, Collection and Tracking                                                         |   | CRA             |   | per site    |   | 1123            |   | 5.00            |   | 5,616     |   |     |
| Study Files                                                       |   | Set-up of Study Master Files and Investigator Site Files                                  |   | PA              |   | per study   |   | 749             |   | 1.00            |   | 749       |   |     |
| CRA Administration (March 2012 - May 2012)                        |   | Communications - Customer, Site, Project Manager                                          |   | CRA             |   | per month   |   | 3019            |   | 3.00            |   | 9,056     |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | Subtotal  |   | $20,080  |
| Customer Project Team Meetings                                    |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
| Customer Kick-off Meeting                                         |   | Teleconference                                                                            |   | PM              |   | per PM      |   | 322             |   | 1.00            |   | 322       |   |     |
| Sponsor Teleconference Participation                              |   | 21 x 1 hour Telecon                                                                       |   | PM              |   | per telecon |   | 165             |   | 21.00           |   | 3,456     |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | Subtotal  |   | $3,778   |
| Investigator’s/Monitor’s meeting                      |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
| Travel Time                                                       |   | 4 hours Return                                                                            |   | PM              |   | per PM      |   | 645             |   | 1.00            |   | 645       |   |     |
| Travel Time                                                       |   | 8 hours Return                                                                            |   | CRA             |   | per CRA     |   | 1123            |   | 1.00            |   | 1,123     |   |     |
| Attendance                                                        |   | Assume 1.5 day Meeting, 1 PM                                                              |   | PM              |   | per PM      |   | 1934            |   | 1.00            |   | 1,934     |   |     |
| Attendance                                                        |   | Assume 1.5 day Meeting, 2 CRAs                                                            |   | CRA             |   | per CRA     |   | 1685            |   | 2.00            |   | 3,370     |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | Subtotal  |   | $7,072   |
| Site Visits                                                       |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
| Study Initiation                                                  |   | Includes Preparation, Travel, Time On-site, Reporting and Follow-up                       |   | CRA             |   | per visit   |   | 1404            |   | 5.00            |   | 7,020     |   |     |
| Monitoring Visits (1 Day Visits)                                  |   | Including Preparation, Travel, 1 day On­-site, Reporting and Follow-up 5 Visits/Site |   | CRA             |   | per visit   |   | 1579            |   | 25.00           |   | 39,478    |   |     |
| Closeout Visits                                                   |   | Includes Preparation, Travel, Time On-site, Reporting and Follow-up                       |   | CRA             |   | per visit   |   | 1752            |   | 5.00            |   | 8,761     |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | Subtotal  |   | $55,258  |
| Site Management                                                   |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
| Site Management (June 2012 • September 2013)                |   | per Month                                                                                 |   | CRA             |   | per month   |   | 3086            |   | 16.00           |   | 49,383    |   |     |
| Site Management (October 2013 • November 2013)              |   | per Month                                                                                 |   | CRA             |   | per month   |   | 1460            |   | 2.00            |   | 2,920     |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | Subtotal  |   | $52,303  |
| Project Management                                                |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
| Local Coordination/Supervision (March 2012 • May 2012)      |   | per Month                                                                                 |   | PM              |   | per month   |   | 5158            |   | 3.00            |   | 15,475    |   |     |
| Local Coordination/Supervision (June 2012 • September 2013) |   | per Month                                                                                 |   | PM              |   | per month   |   | 3296            |   | 16.00           |   | 52,743    |   |     |
| Local Coordination/Supervision (October 2013 - November 2013)     |   | per Month                                                                                 |   | PM              |   | per month   |   | 3353            |   | 2.00            |   | 6,706     |   |     |
| Project Assistance (March 2012 • November 2013)             |   | per Month                                                                                 |   | PA              |   | per rronth  |   | 2054            |   | 21.00           |   | 43,144    |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | Subtotal  |   | $118,068 |
| Safety Monitoring                                                 |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
| Safety Administration                                             |   | Includes Set-up, Maintenance and Completion Activities                                    |   | Safety Officer  |   | per study   |   | 4597            |   | 1.00            |   | 4,597     |   |     |
| Handling of SAEs (Notifications)                                  |   | All Events - Assume 1 SAE                                                                 |   | Safety Officer  |   | per SAE     |   | 330             |   | 1.00            |   | 330       |   |     |
| Medical Review of SAEs and Narrative Creation                     |   | All Events - Assume 1 SAE                                                                 |   | Medical Monitor |   | per SAE     |   | 851             |   | 1.00            |   | 851       |   |     |
| Reporting to Local Authorities                                    |   | Assume 1 Reportable Event                                                                 |   | Safety Officer  |   | per SAE     |   | 659             |   | 1.00            |   | 659       |   |     |
| Safety Management Plan (review)                                   |   |                                                                                      |   | Safety Officer  |   | per study   |   | 659             |   | 1.00            |   | 659       |   |     |
| Teleconference                                                    |   | Assume 1 hour teleconference                                                              |   | Safety Officer  |   | per telecon |   | 165             |   | 1.00            |   | 165       |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | Subtotal  |   | $7,261   |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   |      |   |     |
|                                                              |   |                                                                                      |   |            |   |        |   |            |   |            |   | TOTAL     |   | $263,821 |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| Expense/Item                                                                                                        |   | Comments                                                                                                         |   | Unit Cost   |   | Numberof Units |   | Item CostAUD$ |   | AUD$    |
|---------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|--------|-------------|--------|----------------|--------|---------------|--------|---------|
|                                                                                                                |   |                                                                                                             |   |        |   |           |   |          |   |    |
| Investigator’s/Monitor’s Meeting Attendance                                                             |   |                                                                                                             |   |        |   |           |   |          |   |    |
| Travel/Attendance Costs                                                                                             |   | Airfares, accommodation & meals provided by Client, $500 - taxis, currency exchange, meals in transit, phone |   | $500/person |   | 2              |   | 1,000         |   |    |
|                                                                                                                |   |                                                                                                             |   |        |   |           |   | Subtotal      |   | $1,000  |
| Site Visits                                                                                                         |   |                                                                                                             |   |        |   |           |   |          |   |    |
| Other Site visit Costs                                                                                              |   | Parking/tolls/meals and incidentals for site visits                                                              |   | $50/day     |   | 35             |   | 1,750         |   |    |
|                                                                                                                |   |                                                                                                             |   |        |   |           |   | Subtotal      |   | $1,750  |
| General Expenses                                                                                                    |   |                                                                                                             |   |        |   |           |   |          |   |    |
| Couriers, Express Post, Teleconferences                                                                             |   |                                                                                                             |   | $7,000      |   | 1              |   | 7,000         |   |    |
| Copying (Excluding ethics submissions), postage, telecommunications (excluding teleconferences), stationery (files) |   | $70/site/month, 5 sites for 21 months                                                                            |   | $350/month  |   | 21             |   | 7,350         |   |    |
|                                                                                                                |   |                                                                                                             |   |        |   |           |   | Subtotal      |   | $14,350 |
|                                                                                                                |   |                                                                                                             |   |        |   |           |   |          |   |    |
|                                                                                                                |   |                                                                                                             |   |        |   |           |   | TOTAL         |   | $17,100 |

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

|   | o | $100,000 threshold if contract value is less than $3,000,000; or |
|--------|---|------------------------------------------------------------------|
|   | o | $300,000 threshold if contract value is over $3,000,000.         |

----

| INCResearch Australia Pty Limited           |
|---------------------------------------------|
| Prana Work Order 1000504 v4 3rd August 2012 |

----

| ● | Addition of seven (7) x One Day Monitoring Visits, to be invoiced only if required.                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | Addition of eight (8) x Two Day Monitoring Visits, to be invoiced only if required.                                                                 |
| ● | Addition of one (1) x Four Day Monitoring Visit.                                                                                                    |
| ● | Addition of nine (9) x Serious Adverse Events (SAE) Notifications, to be invoiced only if required.                                                 |
| ● | Addition of four (4) x Reporting to Local Authorities of SAEs, to be invoiced only if required.                                                     |
| ● | Addition of 6 Monthly Suspected Unexpected Serious Adverse Reaction (SUSAR) Line Listings time for Safety Officer, to be invoiced only if required. |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

----

| ● | Addition of twenty-seven (27) x Other Site Visit Costs. |
|---------|---------------------------------------------------------|

|                 |   |             |   |             |   |               |   |            |
|----------------------|--------|------------------|--------|------------------|--------|--------------------|--------|-----------------|
|                 |   | Effective Date   |   | Direct CostsAUD$ |   | Indirect CostsAUD$ |   | Grand TotalAUD$ |
| Original Contract    |   | 14th August 2012 |   | $263,821.00      |   | $17,100.00         |   | $280,921.00     |
| Change Order # 1     |   | Upon Execution   |   | $47,155.00       |   | $1,350.00          |   | $48,505.00      |
| Total Contract Value |   |             |   | $310,976.00      |   | $18,450.00         |   | $329,426.00     |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

----

|                                         |   |                                                     |   |           |   |        |   |          |   |                   |   |               |   |                   |   |               |   |          |
|----------------------------------------------|--------|----------------------------------------------------------|--------|----------------|--------|-------------|--------|---------------|--------|------------------------|--------|--------------------|--------|------------------------|--------|--------------------|--------|---------------|
| Service/Item                                 |   | Comments                                                 |   | Responsibility |   | Unit        |   | UnitCost(AUD) |   | OriginalNumberof Units |   | CO#1Numberof Units |   | OriginalItemCost(AUD$) |   | CO#1ItemCost(AUD$) |   | TOTALCOSTAUD$ |
| Study Start Up Activities                    |   |                                                     |   |           |   |        |   |          |   |                   |   |               |   |                   |   |               |   |          |
| Study Training/Internal Kick Off Meeting     |   | Familiarisation, Protocol, IB                            |   | CRA            |   | per CRA     |   | 1123          |   | 3                      |   | 0                  |   | 3,370                  |   | 0                  |   |          |
| Study Training/Internal Kick Off Meeting     |   | Familiarisation, Protocol, IB                            |   | PM             |   | per PM      |   | 1290          |   | 1                      |   | 0                  |   | 1,290                  |   | 0                  |   |          |
| Essential Document Collection                |   | Creation, Collection and Tracking                        |   | CRA            |   | per site    |   | 1123          |   | 5                      |   | 0                  |   | 5,616                  |   | 0                  |   |          |
| Study Files                                  |   | Set-up of Study Master Files and Investigator Site Files |   | PA             |   | per study   |   | 749           |   | 1                      |   | 0                  |   | 749                    |   | 0                  |   |          |
| CRA Administration (March 2012-May 2012)     |   | Communications - Customer, Site, Project Manager         |   | CRA            |   | per month   |   | 3019          |   | 3                      |   | 0                  |   | 9,056                  |   | 0                  |   |          |
|                                         |   |                                                     |   |           |   |        |   |          |   |                   |   | Subtotal           |   | 20,080                 |   | 0                  |   | $20,080       |
| Customer Project Team Meetings               |   |                                                     |   |           |   |        |   |          |   |                   |   |               |   |                   |   |               |   |          |
| Customer Kick-off Meeting                    |   | Teleconference                                           |   | PM             |   | per PM      |   | 322           |   | 1                      |   | 0                  |   | 322                    |   | 0                  |   |          |
| Sponsor Teleconference Participation         |   | 21 x 1 hour Telecon                                      |   | PM             |   | per telecon |   | 165           |   | 21                     |   | 0                  |   | 3,456                  |   | 0                  |   |          |
|                                         |   |                                                     |   |           |   |        |   |          |   |                   |   | Subtotal           |   | 3,778                  |   | 0                  |   | $3,778        |
| Investigator’s/Monitor’s meeting |   |                                                     |   |           |   |        |   |          |   |                   |   |               |   |                   |   |               |   |          |
| Travel Time                                  |   | 4 hours Return                                           |   | PM             |   | per PM      |   | 645           |   | 1                      |   | 0                  |   | 645                    |   | 0                  |   |          |
| Travel Time                                  |   | 8 hours Return                                           |   | CRA            |   | per CRA     |   | 1123          |   | 1                      |   | 0                  |   | 1,123                  |   | 0                  |   |          |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

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| Service/Item                                   |   | Comments                                                                                  |   | Responsibility |   | Unit      |   | UnitCost(AUD) |   | OriginalNumberof Units |   | CO#1Numberof Units |   | OriginalItemCost(AUD$) |   | CO#1ItemCost(AUD$) |   | TOTALCOSTAUD$ |
|------------------------------------------------|--------|-------------------------------------------------------------------------------------------|--------|----------------|--------|-----------|--------|---------------|--------|------------------------|--------|--------------------|--------|------------------------|--------|--------------------|--------|---------------|
| Attendance                                     |   | Assume 1.5 day Meeting, 1 PM                                                              |   | PM             |   | per PM    |   | 1934          |   | 1                      |   | 0                  |   | 1,934                  |   | 0                  |   |          |
| Attendance                                     |   | Assume 1.5 day Meeting, 2 CRAs                                                            |   | CRA            |   | per CRA   |   | 1685          |   | 2                      |   | 0                  |   | 3,370                  |   | 0                  |   |          |
|                                           |   |                                                                                      |   |           |   |      |   |          |   |                   |   | Subtotal           |   | 7,072                  |   | 0                  |   | $7,072        |
| Site Visits                                    |   |                                                                                      |   |           |   |      |   |          |   |                   |   |               |   |                   |   |               |   |          |
| Study Initiation                               |   | Includes Preparation, Travel, Time On-site, Reporting and Follow-up                       |   | CRA            |   | per visit |   | 1404          |   | 5                      |   | 0                  |   | 7,020                  |   | 0                  |   |          |
| Monitoring Visits (1 Day Visits)               |   | Including Preparation, Travel, 1 day On-site, Reporting and Follow-up - only if required  |   | CRA            |   | per visit |   | 1579          |   | 25                     |   | 7                  |   | 39,478                 |   | 11,054             |   |          |
| Monitoring Visits (2 Day Visits)               |   | Including Preparation, Travel, 2 days On-site, Reporting and Follow-up - only if required |   | CRA            |   | per visit |   | 3015          |   | 0                      |   | 8                  |   | 0                      |   | 24,117             |   |          |
| Monitoring Visits (4 Day Visits)               |   | Including Preparation, Travel, 4 days On-site, Reporting and Follow-up                    |   | CRA            |   | per visit |   | 5886          |   | 0                      |   | 1                  |   | 0                      |   | 5,886              |   |          |
| Closeout Visits                                |   | Includes Preparation, Travel, Time On-site, Reporting and Follow-up                       |   | CRA            |   | per visit |   | 1752          |   | 5                      |   | 0                  |   | 8,761                  |   | 0                  |   |          |
|                                           |   |                                                                                      |   |           |   |      |   |          |   |                   |   | Subtotal           |   | 55,258                 |   | 41,057             |   | $96,315       |
| Site Management                                |   |                                                                                      |   |           |   |      |   |          |   |                   |   |               |   |                   |   |               |   |          |
| Site Management (June 2012 - September 2013)   |   | per Month                                                                                 |   | CRA            |   | per month |   | 3086          |   | 16                     |   | 0                  |   | 49,383                 |   | 0                  |   |          |
| Site Management (October 2013 - November 2013) |   | per Month                                                                                 |   | CRA            |   | per month |   | 1460          |   | 2                      |   | 0                  |   | 2,920                  |   | 0                  |   |          |
|                                           |   |                                                                                      |   |           |   |      |   |          |   |                   |   | Subtotal           |   | 52,303                 |   | 0                  |   | $52,303       |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

----

|                                                          |   |                                                   |   |            |   |      |   |          |   |                   |   |               |   |                   |   |               |   |          |
|---------------------------------------------------------------|--------|--------------------------------------------------------|--------|-----------------|--------|-----------|--------|---------------|--------|------------------------|--------|--------------------|--------|------------------------|--------|--------------------|--------|---------------|
| Service/Item                                                  |   | Comments                                               |   | Responsibility  |   | Unit      |   | UnitCost(AUD) |   | OriginalNumberof Units |   | CO#1Numberof Units |   | OriginalItemCost(AUD$) |   | CO#1ItemCost(AUD$) |   | TOTALCOSTAUD$ |
| Project Management                                            |   |                                                   |   |            |   |      |   |          |   |                   |   |               |   |                   |   |               |   |          |
| Local Coordination/Supervision (March 2012 - May 2012)        |   | per Month                                              |   | PM              |   | per month |   | 5158          |   | 3                      |   | 0                  |   | 15,475                 |   | 0                  |   |          |
| Local Coordination/Supervision (June 2012 - September 2013)   |   | per Month                                              |   | PM              |   | per month |   | 3296          |   | 16                     |   | 0                  |   | 52,743                 |   | 0                  |   |          |
| Local Coordination/Supervision (October 2013 - November 2013) |   | per Month                                              |   | PM              |   | per month |   | 3353          |   | 2                      |   | 0                  |   | 6,706                  |   | 0                  |   |          |
| Project Assistance (March 2012-November 2013)                 |   | per Month                                              |   | PA              |   | per month |   | 2054          |   | 21                     |   | 0                  |   | 43,144                 |   | 0                  |   |          |
|                                                          |   |                                                   |   |            |   |      |   |          |   |                   |   | Subtotal           |   | 118,068                |   | 0                  |   | $118,068      |
| Safety Monitoring                                             |   |                                                   |   |            |   |      |   |          |   |                   |   |               |   |                   |   |               |   |          |
| Safety Administration                                         |   | Includes Set-up, Maintenance and Completion Activities |   | Safety Officer  |   | per study |   | 4597          |   | 1                      |   | 0                  |   | 4,597                  |   | 0                  |   |          |
| Handling of SAEs (Notifications)                              |   | All Events - Assume 10                                 |   | Safety Officer  |   | per SAE   |   | 330           |   | 1                      |   | 9                  |   | 330                    |   | 2,967              |   |          |
| Medical Review of SAEs and Narrative Creation                 |   | All Events - Assume 1 SAE                              |   | Medical Monitor |   | per SAE   |   | 851           |   | 1                      |   | 0                  |   | 851                    |   | 0                  |   |          |
| Reporting to Local Authorities                                |   | All Events - Assume 5                                  |   | Safety Officer  |   | per SAE   |   | 659           |   | 1                      |   | 4                  |   | 659                    |   | 2,637              |   |          |
| 6-Monthly SUSAR Line Listing                                  |   | Preparation, distribute and tracking                   |   | Safety Officer  |   | per study |   | 494           |   | 0                      |   | 1                  |   | 0                      |   | 494                |   |          |
| Safety Management Plan (review)                               |   |                                                   |   | Safety Officer  |   | per study |   | 659           |   | 1                      |   | 0                  |   | 659                    |   | 0                  |   |          |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

----

| Service/Item   |   | Comments                     |   | Responsibility |   | Unit        |   | UnitCost(AUD) |   | OriginalNumberof Units |   | CO#1Numberof Units |   | OriginalItemCost(AUD$) |   | CO#1ItemCost(AUD$) |   | TOTALCOSTAUD$ |
|----------------|--------|------------------------------|--------|----------------|--------|-------------|--------|---------------|--------|------------------------|--------|--------------------|--------|------------------------|--------|--------------------|--------|---------------|
| Teleconference |   | Assume 1 hour teleconference |   | Safety Officer |   | per telecon |   | 165           |   | 1                      |   | 0                  |   | 165                    |   | 0                  |   |          |
|           |   |                         |   |           |   |        |   |          |   |                   |   | Subtotal           |   | 7,261                  |   | 6,098              |   | $13,360       |
|           |   |                         |   |           |   |        |   |          |   |                   |   |               |   |                   |   |               |   |          |
|           |   |                         |   |           |   |        |   |          |   |                   |   | TOTAL              |   | 263,821                |   | 47,155             |   | $310,976      |

| Expense/Item                                            |   | Comments                                                                                                         |   | Unit Cost   |   | OriginalNumberof Units |   | CO#1Numberof Units |   | OriginalItemCostAUD$ |   | CO#1ItemCostAUD$ |   | TOTALCOSTAUD$ |
|---------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|--------|-------------|--------|------------------------|--------|--------------------|--------|----------------------|--------|------------------|--------|---------------|
| Investigator’s/Monitor’s Meeting Attendance |   |                                                                                                             |   |        |   |                   |   |               |   |                 |   |             |   |          |
| Travel/Attendance Costs                                 |   | Airfares, accommodation & meals provided by Client, $500 - taxis, currency exchange, meals in transit, phone |   | $500/person |   | 2                      |   | 0                  |   | 1,000                |   | 0                |   |          |
|                                                    |   |                                                                                                             |   |        |   |                   |   | Subtotal           |   | 1,000                |   | 0                |   | $1,000        |
| Site Visits                                             |   |                                                                                                             |   |        |   |                   |   |               |   |                 |   |             |   |          |
| Other Site visit Costs                                  |   | Parking/tolls/meals and incidentals for site visits                                                              |   | $50/day     |   | 35                     |   | 27                 |   | 1,750                |   | 1,350            |   |          |
|                                                    |   |                                                                                                             |   |        |   |                   |   | Subtotal           |   | 1,750                |   | 1,350            |   | $3,100        |
| General Expenses                                        |   |                                                                                                             |   |        |   |                   |   |               |   |                 |   |             |   |          |
| Couriers, Express Post, Teleconferences                 |   |                                                                                                             |   | $7,000      |   | 1                      |   | 0                  |   | 7,000                |   | 0                |   |          |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

----

| Copying (Excluding ethics submissions), postage, telecommunications (excluding teleconferences), stationery (files) |   | $70/site/month, 5 sites for 21 months |   | $350/month |   | 21     |   | 0        |   | 7,350  |   | 0      |   |    |
|---------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|--------|------------|--------|--------|--------|----------|--------|--------|--------|--------|--------|---------|
|                                                                                                                |   |                                  |   |       |   |   |   | Subtotal |   | 14,350 |   | 0      |   | $14,350 |
|                                                                                                                |   |                                  |   |       |   |   |   |     |   |   |   |   |   |    |
|                                                                                                                |   |                                  |   |       |   |   |   | TOTAL    |   | 17,100 |   | 1,350  |   | $18,450 |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

----

|                                                                                                                                                         |   |                                                                                                                                                   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| Prana Biotechnology Limited                                                                                                                                  |   | INCResearch Australia Pty Limited                                                                                                                      |
|                            |   |                           |
| Signature By:                                                                                                                                                |   | Signature By:                                                                                                                                          |
| DIANNE ANGUS                                                                                                                                                 |   | Garth Tierney                                                                                                                                          |
| Name (print)                                                                                                                                                 |   | Name (print)                                                                                                                                           |
| C.O.O                                                                                                                                                        |   | Executive Vice President, Asia/Pacific                                                                                                                 |
| Title                                                                                                                                                        |   | Title                                                                                                                                                  |
| 16 / April / 2013                                                                                                                                            |   | 24/04/2013                                                                                                                                             |
| Date                                                                                                                                                         |   | Date                                                                                                                                                   |

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, 10th April 2013  |

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