----

----

|  | Prana Biotechnology Limited |
|--|-----------------------------|

| Study Title: | Randomised, Double-blind, Placebo-controlled, Parallel-group, Phase 2 Study to Evaluate the Effect of One Dose of PBT2 (250mg daily) for 52 Weeks on Aβ Deposition in the Brains of Patients with Mild Alzheimer’s Disease Compared to Placebo and to Evaluate the Safety and Tolerability of PBT2 (250mg daily) for 52 Weeks in Patients with Mild Alzheimer’s Disease |
|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| SCOPE OF WORK                            | ATTACHMENT 1 |
|------------------------------------------|--------------|
| PROJECT BUDGET & SCHEDULE OF PAYMENT | ATTACHMENT 2 |

|                        |                    |                          |   |            |
|-----------------------------|-------------------------|-------------------------------|--------|-----------------|
| Prana Biotechnology Limited |                    | INCResearch Australia Limited |
|                        |                    |                          |
| By:                         |                         |                          | By:    |                 |
|                        |                    |                          |   |            |
| Name:                       | Dianne Angus            |                          | Name:  | Garth Tierney   |
|                        |                    |                          |   |            |
| Title:                      | Chief Operating Officer |                          | Title: | General Manager |
|                        |                    |                          |   |            |
| Date:                       | 2 April 2012            |                          | Date:  | 18 April 2012   |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| 1.     | ASSUMPTIONS-SERVICES |
|--------|----------------------|
|   |                 |
| 1.1    | General Assumptions  |

| GENERAL                                     |   |                                                                                                              |
|---------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------|
| Phase                                       |   | II                                                                                                                |
| Number of Study Sites + Location            |   | 3 sites in Melbourne                                                                                              |
| Number of Subjects Screened                 |   | Not Specified                                                                                                     |
| Number of Subjects Randomised               |   | 40                                                                                                                |
| Local Study Sponsor - Australia             |   | Prana                                                                                                             |
| SOPs to be Used                             |   | INC                                                                                                               |
| CLINICAL                                    |   |                                                                                                              |
| Site Identification                         |   | Sites have been identified by Prana                                                                               |
| Investigator Meeting (length, location)     |   | 1 day meeting in Melbourne                                                                                        |
| Monitoring Frequency or Total No.           |   | 13 one-day visits per site                                                                                        |
| Visits/Site                                 |   |                                                                                                              |
| Paper or eCRF                               |   | Paper                                                                                                             |
| No. CRF pages/Subject                       |   | 80 pages                                                                                                          |
| % SDV                                       |   | 100                                                                                                               |
| Monitor Location                            |   | Melbourne                                                                                                         |
| Project Manager                             |   | Prana                                                                                                             |
| SAFETY REPORTING and MEDICAL MONITORING     |
| No. (%) of SAEs Expected                    |   | Assume 1                                                                                                          |
| SAEs Initially Reported to...               |   | INC                                                                                                               |
| SAE Reporting to Local Regulatory Authority |   | INC                                                                                                               |
| Medical Monitor                             |   | Prana (INC as back up)                                                                                            |
| BIOMETRICS                                  |   |                                                                                                              |
| CRF Design                                  |   | INC                                                                                                               |
| Medical Coding of Adverse Events            |   | MedDra                                                                                                            |
| Medical Coding Medications                  |   | WHO Drug                                                                                                          |
| Data Entry                                  |   | Double DE                                                                                                         |
| Number of Datasets                          |   | 25                                                                                                                |
| No. of Check Programs per panel             |   | 7                                                                                                                 |
| Expected Query rate                         |   | 7 queries per 100 pages                                                                                           |
| Laboratory data                             |   | Central labs: Safety data (electronic) Local labs: None                                                           |
| Exports                                     |   | 2 (draft and final)                                                                                               |
| Frequency of Reporting                      |   | Monthly Data Management Metrics                                                                                   |
| DSMC requirements                           |   | 3 (10%, 40%, 70%)                                                                                                 |
| Statistics tasks                            |   | Input to Protocol, Randomisation, Statistical Analysis Plan, Statistical Analyses, DSMB, Statistical Text for CSR |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| 1.2 | Timelines Assumptions |
|-----|-----------------------|

| Timelines      |   | Start     |   | End       |
|----------------|--------|-----------|--------|-----------|
| Start-up       |   | 1-Oct-11  |   | 10-Oct-11 |
| Recruitment    |   | 11-Oct-11 |   | 10-Jun-12 |
| Treatment      |   | 11-Jun-12 |   | 10-Jul-13 |
| Follow-up      |   | 11-Jul-13 |   | 10-Aug-13 |
| Study Conduct  |   | 11-Oct-11 |   | 10-Jul-13 |
| Close-out      |   | 10-Aug-13 |   | 10-Oct-13 |
| Total Duration |   | 1-Oct-11  |   | 10-Oct-13 |

|   |                                  |
|--------|---------------------------------------|
| 1.3    | Detailed Transfer of Responsibilities |

| ACTIVITY                                                      |   | Customer/ ThirdParty |   | INC    |
|---------------------------------------------------------------|--------|----------------------|--------|--------|
| 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                   |   | NA                   |   | NA     |
| Complete Ethics Submissions and Follow-up                     |   | ü               |   |   |
| Respond to Issues Raised by the Ethics Committee              |   | ü               |   |   |
| Regulatory Submissions (CTN)                                  |   | ü               |   |   |
| Import/Export Permit Handling                                 |   | ü               |   |   |
| Investigator’s Meeting                                  |   |                 |   |   |
| Attend Investigator’s Meeting                           |   | ü               |   | ü |
| Present at Investigator’s Meeting                       |   | ü               |   | ü |
| Organise Investigator’s Meeting                         |   | ü               |   |   |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| ACTIVITY                                                       |   | Customer/ ThirdParty |   | INC              |
|----------------------------------------------------------------|--------|----------------------|--------|------------------|
| Investigational Product (IP)                                   |   |                 |   |             |
| IP Packaging and Labelling                                     |   | ü               |   |             |
| IP Storage                                                     |   | ü               |   |             |
| IP Distribution                                                |   | ü               |   |             |
| IP Accountability                                              |   |                 |   | ü           |
| IP Destruction                                                 |   | ü               |   |             |
| Site Visits                                                    |   |                 |   |             |
| Site Initiation Visits                                         |   |                 |   | ü           |
| Monitoring Visits                                              |   |                 |   | ü           |
| Unblinded Monitoring Visits                                    |   | NA                   |   | NA               |
| 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               |   |             |
| Produce/Distribute Newsletters                                 |   | ü               |   |             |
| Archiving of Study Files Post-study                            |   | ü               |   |             |
| Safety Reporting & Medical Monitoring                      |   |                 |   |             |
| Initial Receipt and Handling of SAEs                           |   |                 |   | 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           |
| Six-monthly SUSAR Line Listings                                |   |                 |   | ü           |
| Annual Update of IB or Annual Safety Report (EU                |   | ü               |   |             |
| Medical Monitoring                                             |   | ü               |   | ü (back up) |
| Biometrics                                                     |   |                 |   |             |
| Data Mgt – CRF Design and Development               |   | ü               |   | ü           |
| Data Mgt – CRF Approval                             |   | ü               |   |             |
| Data Mgt – Database Design and Build                     |   |                 |   | ü           |
| Data Mgt – Database Consistency Check Programming        |   |                 |   | ü           |
| Data Mgt – Data Validation Manual/Data Management Plan   |   |                 |   | ü           |
| Data Mgt – Data Entry                                    |   |                 |   | ü           |
| Data Mgt – Medical Coding                                |   |                 |   | ü           |
| Data Mgt – Quality Control                               |   |                 |   | ü           |
| Data Mgt – Generation of Data Queries                    |   |                 |   | ü           |
| Data Mgt – Delivery of Clean Verified CRFs to Customer   |   |                 |   | ü           |
| Statistics – Sample Size Determination                   |   | ü               |   |             |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| ACTIVITY                                                                                          |   | Customer/ ThirdParty |   | INC    |
|---------------------------------------------------------------------------------------------------|--------|----------------------|--------|--------|
| Statistics – Input to Protocol                                                         |   | ü               |   |   |
| Statistics – Generation of Randomisation Schedule and Provision of Randomisation Envelopes. |   |                 |   | ü |
| Statistics – Statistical Analysis Plan                                                      |   |                 |   | ü |
| Statistics – Produce Tables, Figures and Listings                                           |   |                 |   | ü |
| Statistics – Interim Analysis                                                               |   |                 |   | ü |
| Statistics – Analysis and Reporting                                                         |   |                 |   | ü |
| Medical Writing                                                                                   |   |                 |   |   |
| Provision of Top Line Data/results 4 weeks post database lock                                     |   |                 |   | ü |
| Provision of draft Clinical Study Report 7 weeks post database lock                               |   |                 |   | ü |
| Provision of final Clinical Study Report 10 weeks post database lock                              |   |                 |   | ü |

|    |                                                                                             |                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|
| ● | Study training/kick-off/familiarisation is included to train the project team on the following:- |
|    | ●                                                                                          | Protocol                                                                                                                        |
|    | ●                                                                                          | Investigators’ Brochure                                                                                                   |
|    | ●                                                                                          | Therapeutic Area Training (by INC’s Chief Medical Officer whose time is a value add service not charged to our Customers) |
|    | ●                                                                                          | SOPs                                                                                                                            |
|    | ●                                                                                          | CRF                                                                                                                             |
|    | ●                                                                                          | Monitoring Guidelines                                                                                                           |

|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | Customer kick-off meeting: The Customer will provide training for the CRA(s)/study team on the following;                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ● | Study protocol                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ● | Investigational product                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| ● | CTMS (if applicable)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| ● | Relevant client procedures or plans                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|    | (Amount of time to be discussed and agreed between INC and the Customer).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| ● | A Study Manual/Monitoring Manual will be produced for this study. This may include explanations of the following, but will vary depending on the Customer’s and the study requirements; applicable SOPs, communication procedures, initiation and monitoring visit procedures and reporting, source document verification (SDV) guidelines, protocol violation procedures, AE and SAE recording, concomitant medication recording, screen failures, withdrawals and early termination visits, investigational product (IP) handling, query resolution. |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ●                      | Clinical Trial Notification (CTN) Handling – Prana will complete all forms and arrange submission of the regulatory applications to the relevant health authorities Therapeutic Goods Administration.                                                                                                                                                                                                                        |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Ethics committee submissions includes Pl/consent customisation, completion of application, coordination of copies, coordination of any follow up required. Prana will be responsible for this task.                                                                                                                                                                                                                                     |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | A 1.5 day Investigator’s meeting is scheduled in 2011, which will be organised by Prana. This will include a session for training the INC team.                                                                                                                                                                                                                                                                                   |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Limited time has been allocated for the preparation of presentations. This will be a shared responsibility between the Customer and INC. Additional time may be required depending on the nature of the presentations that INC is required to develop.                                                                                                                                                                                  |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Study Conduct and Monitoring |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Study initiation visits include visit preparation, time on site, report completion after visits, follow-up correspondence with sites, post visit document handling and issue resolution.                                                                                                                                                                                                                                                |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Monitoring Visits                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                         | It has been calculated that 39 monitoring days onsite will be required. This calculation is based on 40 patients, 100% SDV and an 80 page CRF. This assumes that it is possible to monitor an average of 85 CRF pages/day. It has been assumed that monitoring visits includes visit preparation, time on site, report completion after visits, follow-up correspondence with sites, post visit document handling and issue resolution. |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Due to the varying rates of enrolment across sites, the INC Project Manager will have the discretion to reallocate monitoring visits across and between all sites as required. The number of monitoring visits will be assessed on an ongoing basis to determine if more or less monitoring visits are required. This will be discussed and agreed with the Customer on an ongoing basis.                                               |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Close-out visits includes visit preparation, time on site, report completion after visits, follow-up correspondence with sites, post visit document handling and issue resolution.                                                                                                                                                                                                                                                      |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | CRA site management includes: ongoing communications with study sites, regular contacts with site between visits, communications with the Project Manager and the Customer, issue resolution between visits, management of study files and liaison with data management.                                                                                                                                                                |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Project Management           |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Project Management will be handled by Prana.                                                                                                                                                                                                                                                                                                                                                                                            |
|                         |                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ●                      | Teleconferences - It has been assumed that there will be monthly teleconferences for the project team for the period (October 2011 – October 2013).                                                                                                                                                                                                                                                                          |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

|    |                                                                                                                                                                                                                                                                                                              |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | SAE reporting process (To be confirmed).                                                                                                                                                                                                                                                                          |
|    | SAEs will be reported directly to INC. INC will then conduct a medical review of the SAE and provide a final report to Prana. INC will be responsible for reporting the SAE to the local regulatory authorities.                                                                                                  |
|    |                                                                                                                                                                                                                                                                                                              |
| ● | For the purposes of this proposal, it has been assumed there will be a total of 1 SAE during the course of the trial which is reportable event. There will be 1 SAE Follow up. This provides a unit cost, in the case that there are more SAEs/reportable events and/or follow-ups these will be billed to Prana. |
|    |                                                                                                                                                                                                                                                                                                              |
| ● | The INC Safety Officer will be responsible for the development of a study specific SAE Flow Chart. This will involve liaison with Prana’s Safety Officer or Department.                                                                                                                                     |
|    |                                                                                                                                                                                                                                                                                                              |
| ● | Safety administration – includes familiarisation, set-up, correspondence, tracking, customer liaison, filing, study completion and archiving and has been estimated from October 2011 – July 2013.                                                                                          |
|    |                                                                                                                                                                                                                                                                                                              |
| ● | Investigator notification letters – Includes preparation and oversight                                                                                                                                                                                                                                 |
|    |                                                                                                                                                                                                                                                                                                              |
| ● | The Medical Monitor will be provided by Prana. If required INC can provide a Medical Monitor on a retainer for an additional monthly fee, this will include professional advice in relation to inclusion/exclusion criteria, therapeutic area and review and narrative creation of SAEs.                          |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

|    |                                               |
|---------|----------------------------------------------------|
| ● | CRF tracking and filing guidelines                 |
| ● | Data entry guidelines                              |
| ● | Pre-review guidelines                              |
| ● | List of electronic edit checks to be performed     |
| ● | List of self-evident corrections and abbreviations |
| ● | Electronic data integration plan                   |
| ● | Local safety laboratory data handling procedures   |
| ● | Medical coding guidelines                          |
| ● | Serious adverse event reconciliation guidelines    |
| ● | Quality control plan                               |
| ● | Query reconciliation plan                          |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

|    |                                                                                                                                                                      |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | Final Statistical Analysis Plan                                                                                                                                           |
| ● | Tables, figure, and listings, in an industry-common electronic format, such as SAS, Adobe PDF or Microsoft Word, that will be mutually agreed upon prior to the transfer. |
| ● | A summary and list of protocol deviations and other anomalies known to INC staff.                                                                                         |

|    |                                                                                                                                                                                                                                                                          |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | The final Clinical Study Report (CSR) for this study will be to International Conference on Harmonisation (ICH) format taking into account any relevant guidelines. The expected length of the report is 30-40 pages of prepared text plus tables and listings as appendices. |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| ● | We assume one review cycle (i.e., an initial draft report is prepared for client review and following receipt of Customer comments a final report can be issued). |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                              |
| ● | We assume that the final report is delivered to the customer in an electronic format.                                                                             |
|    |                                                                                                                                                              |
| ● | Prana may wish to include an optional of 8 hours QA review. A quality control check is automatically incorporated.                                                |
|    |                                                                                                                                                              |
| ● | Additional services (e.g., full electronic compilation) can be provided at additional cost                                                                        |

|                                                   |                                                                                                                               |
|--------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------|
| ●                                                | INC assumes that the Customer Project Kick-off meeting will be held in Melbourne, and therefore, there will be no travel expenses. |
|                                                   |                                                                                                                               |
| Investigator’s Meeting Expenses                  |
|                                                   |                                                                                                                               |
| ●                                                | An Australian investigator meeting will be held in Melbourne.                                                                      |
|                                                   |                                                                                                                               |
| Travel Related Expenses (Airfares/Accommodation/Taxis) |
|                                                   |                                                                                                                               |
| ●                                                | As all monitoring will be regionalised there are no travel related expenses for site visits.                                       |
|                                                   |                                                                                                                               |
| Site Visit Expenses (Parking/Meals/Tolls/Incidentals)  |
|                                                   |                                                                                                                               |
| ●                                                | An allowance of $50 per day has been estimated for site visits.                                                                    |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

|    |                                                                                                                                                                                                                                                                           |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | Costs related to couriers, and teleconference call will be passed though at cost.                                                                                                                                                                                              |
|    |                                                                                                                                                                                                                                                                           |
| ● | A general expense has been calculated to include photocopying (excluding ethics submission copying), stationery (files), express post costs, standard postage and communications (excluding teleconferences). This will be billed at a set rate for the duration of the study. |
|    |                                                                                                                                                                                                                                                                           |
| ● | CRF printing – this has been estimated at $2,500, assuming this will be on 3 part no-carbon required (NCR) paper.                                                                                                                                                   |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| PROJECT BUDGET & PAYMENT SCHEDULE |
|---------------------------------------|

| 1.  | PAYMENT SCHEDULE AND INVOICING |
|----------|--------------------------------|

|   | ● | Execution of agreement | 20% |
|--------|---------|------------------------|-----|
|   | ● | Database Complete      | 20% |
|   | ● | 100% data entered      | 20% |
|   | ● | Data base Lock         | 20% |
|   | ● | 1st Draft Study Report | 10% |
|   | ● | Final Study Report     | 10% |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| Email: | krowe@pranabio.com                            |
|--------|-----------------------------------------------|
| Cc:    | Peneamor@bigpond.net.auanddangus@pranabio.com |

| 2.  | CONTACTS & COMMUNICATION |
|----------|------------------------------|

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| Service/Item                                   |   | Comments                                                                    |   | Responsibility  |   | Unit          |   | Unit Cost |   | Number of Units |   | Item Cost |   | AUD$    |
|------------------------------------------------|--------|-----------------------------------------------------------------------------|--------|-----------------|--------|---------------|--------|-----------|--------|-----------------|--------|-----------|--------|---------|
| Study Start Up Activities                      |   |                                                                        |   |            |   |          |   |      |   |            |   |      |   |    |
| Study Training/ Internal Kick Off Meeting      |   | Familiarisation, Protocol. IB, CRF, procedures etc.                         |   | CRA             |   | per CRA       |   | 1080      |   | 1.00            |   | 1,080     |   | ‘ |
| Essential document collection                  |   | Creation, Collection and tracking                                           |   | CRA             |   | per site      |   | 1350      |   | 3.00            |   | 4,050     |   |    |
| Study Manual/Monitoring Manual Development     |   |                                                                        |   | Med Writer / PM |   | per manual    |   | 3100      |   | 1               |   | 3,100     |   |    |
| Study Files                                    |   | Set up of study master files and Investigator site files                    |   | PA              |   | per study     |   | 720       |   | 1.00            |   | 720       |   |    |
| File Management                                |   | per month                                                                   |   | PA              |   | per month     |   | 283       |   | 24.00           |   | 6,787     |   |    |
|                                           |   |                                                                        |   |            |   |          |   |      |   |            |   | Subtotal  |   | $15,737 |
| Customer Project Team Meetings                 |   |                                                                        |   |            |   |          |   |      |   |            |   |      |   |    |
| Teleconference participation                   |   | 25 x 1 hour Telecon, 1 CRAs                                                 |   | CRA             |   | per telecon   |   | 138       |   | 25.00           |   | 3.450     |   |    |
|                                           |   |                                                                        |   |            |   |          |   |      |   |            |   | Subtotal  |   | $3,450  |
| Investigator’s/Monitor’s Meeting   |   |                                                                        |   |            |   |          |   |      |   |            |   |      |   |    |
| Preparation of Presentations                   |   | Trident & Customer shared responsibility                                |   | CRA             |   | per meeting   |   | 1620      |   | 1.00            |   | 1.620     |   |    |
| Attendance                                     |   | assume 1 day meeting, 1 CRA                                                 |   | CRA             |   | per CRA       |   | 1080      |   | 1.00            |   | 1,080     |   |    |
|                                           |   |                                                                        |   |            |   |          |   |      |   |            |   | Subtotal  |   | $2,700  |
| Site Visits                                    |   |                                                                        |   |            |   |          |   |      |   |            |   |      |   |    |
| Study Initiation                               |   | Incl. prep, travel, on-site, reporting & follow-up                      |   | CRA             |   | per visit     |   | 1620      |   | 3.00            |   | 4,860     |   |    |
| Monitoring Visits (1 Day visits)               |   | Incl. prep, travel, 1 day on-site, reporting & follow-up 13 visits/site |   | CRA             |   | per visit     |   | 1932      |   | 39.00           |   | 75,348    |   |    |
| Closeout visits                                |   | Incl. prep, travel, on-site, reporting & follow-up                      |   | CRA             |   | per visit     |   | 2070      |   | 3.00            |   | 6,210     |   |    |
|                                           |   |                                                                        |   |            |   |          |   |      |   |            |   | Subtotal  |   | $86,418 |
| Site Management                                |   |                                                                        |   |            |   |          |   |      |   |            |   |      |   |    |
| Site Management (October 2011 - July 2013)     |   | per month                                                                   |   | CRA             |   | per month     |   | 1780      |   | 22.00           |   | 39,164    |   |    |
| Site Management (August 2013 - September 2013) |   | per month                                                                   |   | CRA             |   | per month     |   | 828       |   | 2.00            |   | 1,656     |   |    |
| Management/Supervision                         |   | per month                                                                   |   | Management      |   | per month     |   | 340       |   | 24.00           |   | 8,160     |   |    |
|                                           |   |                                                                        |   |            |   |          |   |      |   |            |   | Subtotal  |   | $48,980 |
| Safety Monitoring                              |   |                                                                        |   |            |   |          |   |      |   |            |   |      |   |    |
| Safety Administration                          |   | Incl. set up, maintenance and completion activities                         |   | Safety Officer  |   |          |   | 3979      |   | 1.00            |   | 3,979     |   |    |
| Initial Receipt and handling SAEs              |   | All events - assume 1 SAE                                                   |   | Safety Officer  |   | per SAE       |   | 330       |   | 1.00            |   | 330       |   |    |
| Medical Review of SAEs and Narrative creation  |   | Optional - as required                                                      |   | Medical Monitor |   | per SAE       |   | 838       |   | 0,00            |   | 0         |   |    |
| Reporting to local Authorities                 |   | Assume 1 Reportable events                                                  |   | Safety Officer  |   | per SAE       |   | 660       |   | 1.00            |   | 660       |   |    |
| Follow up of SAEs                              |   | Assume 2 hours/Follow-up/SAE, 1 Follow-ups                                  |   | Safety Officer  |   | per follow-up |   | 330       |   | 1.00            |   | 330       |   |    |
| Investigator Notification Letters              |   | preparation and oversight                                                   |   | Safety Officer  |   | per letter    |   | 165       |   | 1.00            |   | 165       |   |    |
| Med Monitor Retainer (June 12 - Oct 13)        |   |                                                                        |   | Medical Monitor |   | per month     |   | 419       |   | 16.00           |   | 6,704     |   |    |
|                                           |   |                                                                        |   |            |   |          |   |      |   |            |   | Subtotal  |   | $12,167 |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

|  Service/Item                               |   | Comments                                                                                                                                                                                      |   | Responsibility                |   | Unit                 |   | Unit Cost |   | Number of Units |   | Item Cost |   | AUD$     |
|--------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|--------|----------------------|--------|-----------|--------|-----------------|--------|-----------|--------|----------|
| Data Management & Statistics                 |   |                                                                                                                                                                                          |   |                          |   |                 |   |      |   |            |   |      |   |     |
| CRF Design                                       |   | 25 unique pages. 80 pages of CRF and 11 pages of questionnaire. 91 Total pages.   One print run.                                                                               |   | Data Operations Assoc Manager |   | 1 study              |   | 14520     |   | 1.00            |   | 14,520    |   |     |
| Database design and build                        |   |                                                                                                                                                                                          |   | DBA/CDA                       |   | 1 Data set           |   | 463       |   | 25.00           |   | 11,563    |   |     |
| Database / Consistency Check programming         |   |                                                                                                                                                                                          |   | DBA/CDA                       |   | 1 Check              |   | 53        |   | 208.25          |   | 11,114    |   |     |
| Data Validation Manual / Data Management Plan    |   |                                                                                                                                                                                          |   | CDA                           |   | 1 DVM/DMP            |   | 3400      |   | 1.00            |   | 3.400     |   |     |
| Data entry                                       |   | Double Data Entry 40 patients ×80CRF pages plus 40 × 11 questionaires=3640 total pages. Cost per extra page=5.87                                                               |   | DE                            |   | 1 page               |   | 6         |   | 3640.00         |   | 21,385    |   |     |
| Medical Coding                                   |   | MedDRA - AE, WHO - Drug                                                                                                                                                                       |   | DBA/CDA                       |   | 1 Coded term         |   | 6         |   | 800.00          |   | 5,036     |   |     |
| Data Cleaning / Monitoring                       |   | 3200 CRF pages. Cost per extra page=$5.10                  224 Queries. Cost per extra query=$42.50 |   | CDA                           |   | 1 study              |   | 29617     |   | 1.00            |   | 29,617    |   |     |
| Quality Control                                  |   | 10% of all patients, 100% of all critical data   (15% critical / 85% non critical)                                                                                             |   | CDA                           |   | 1 page               |   | 3         |   | 811.40          |   | 2,391     |   |     |
| Import laboratory data                           |   | 1 central lab                                                                                                                                                                                 |   | DBA/CDA                       |   | 1  study   |   | 3680      |   | 1.00            |   | 3,680     |   |     |
| Data exports                                     |   | Assume 2 exports                                                                                                                                                                              |   | DBA                           |   | 1  export  |   | 360       |   | 2.00            |   | 720       |   |     |
| Database maintenance                             |   | Study Duration = 18 months                                                                                                                                                                    |   | DBA                           |   | 1  month   |   | 0         |   | 18.00           |   | 4,320     |   |     |
| DM & Statistics - Project Management         |   | Client meetings & corresp, DM metrics. 1hrs/month x 18 months                                                                                                                             |   | DM                            |   | 1 month              |   | 120       |   | 18.00           |   | 1,530     |   |     |
| Input to protocol                                |   | Text and sample size calcualtion / power                                                                                                                                                      |   | Statistician                  |   | 1 hour               |   | 200       |   | 4,00            |   | 800       |   |     |
| Generation of Randomisation schedule             |   | 1 Schedule.     40 Envelopes. Cost per                                                                                                                               |   | Statistician                  |   | 1                    |   | 1175      |   | 1.00            |   | 1,175     |   |     |
| Statistical Analysis Plan                        |   | Includes text and table and Isting shells                                                                                                                                                     |   | Statistician                  |   | 1 Statistical        |   | 5840      |   | 1.00            |   | 5,840     |   |     |
| Identify Protocol Deviations and define Analysis |   | Unblinding, Protocol deviations and                                                                                                                                                           |   | Statistician                  |   | 1 study              |   | 1600      |   | 1.00            |   | 1,600     |   |     |
| Analysis Datasets                                |   | Specification, Programming   & QC                                                                                                                                          |   | SAS Programmer                |   | 1 study              |   | 4800      |   | 1.00            |   | 4,800     |   |     |
| Production of Tables & Listings              |   | 15 Unique tables.   Cost per extra $720 20 Repeat tables. Cost per extra $240 0 Figures. Cost per extra S420 35 Listings. Cost per extra S300                                  |   | SAS Programmer                |   | 1 study              |   | 26100     |   | 1.00            |   | 26,100    |   |     |
| Statistical Analysis                             |   | 10 analysis endpoints. Cost per extra $400                                                                                                                                                    |   | Statistician                  |   | 1 analysis endpoint  |   | 400       |   | 10.00           |   | 4,000     |   |     |
| Provision of data to DSMB                        |   | Assumes interim running and QC of  6 TFLs in row ‘Programming Tables and listings.                                                                                            |   | Statistician                  |   | 1  meeting |   | 960       |   | 3.00            |   | 2,880     |   |     |
| Input to Final report                            |   | Text for inclusion in study report.                                                                                                                                                           |   | Statistician                  |   | 1  hour    |   | 2400      |   | 1.00            |   | 2,400     |   |     |
|                                             |   |                                                                                                                                                                                          |   |                          |   |                 |   |      |   |            |   | Subtotal  |   | $158,869 |
| Medical Writing (Optional)                       |   |                                                                                                                                                                                          |   |                          |   |                 |   |      |   |            |   |      |   |     |
| Clinical study report (CSR)                      |   |                                                                                                                                                                                          |   | Medical Writer                |   | per CSR              |   | 22497     |   | 1.00            |   | 22,497    |   |     |
| QA review of CSR                                 |   | Optional for Client                                                                                                                                                                           |   | Medical Writer                |   | per CSR              |   | 2769      |   | 1.00            |   | 2,769     |   |     |
|                                             |   |                                                                                                                                                                                          |   |                          |   |                 |   |      |   |            |   | Subtotal  |   | $25,266  |
|                                             |   |                                                                                                                                                                                          |   |                          |   |                 |   |      |   |            |   |      |   |     |
|                                             |   |                                                                                                                                                                                          |   |                          |   |                 |   |      |   |            |   | TOTAL     |   | $353,588 |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

| Expense/Item                                                                          |   | Comments                                            |   | Unit Cost  |   | Number of Units |   | Item Cost AUD$ |   | AUD$    |
|---------------------------------------------------------------------------------------|--------|-----------------------------------------------------|--------|------------|--------|-----------------|--------|----------------|--------|---------|
| Site Visits                                                                           |   |                                                |   |       |   |            |   |           |   |    |
| Other Site visit Costs                                                                |   | Parking/tolls/meals and incidentals for site visits |   | $50/day    |   | 45.00           |   | 2,250          |   |    |
|                                                                                  |   |                                                |   |       |   |            |   | Subtotal       |   | $2,250  |
| General Expenses                                                                      |   |                                                |   |       |   |            |   |           |   |    |
| General Expenses - Couriers, Postage, Telecommunications, Copying, stationery (files) |   | $70/site/month, 3 sites for 25 months               |   | $210/month |   | 25              |   | 5,250          |   |    |
| CRF Printing                                                                          |   |                                                |   | $2,500     |   | 1               |   | 2,500          |   |    |
|                                                                                  |   |                                                |   |       |   |            |   | Subtotal       |   | $7,750  |
|                                                                                  |   |                                                |   |       |   |            |   |           |   |    |
|                                                                                  |   |                                                |   |       |   |            |   | TOTAL          |   | $10,000 |

| WA002 PBT2-204 (800089) V4, 2nd April 2012 |   |
|--------------------------------------------|--------|

----

|  |   |
|--|--------|

| Study Title: | Randomised, Double-blind, Placebo-controlled, Parallel-group, Phase 2 Study to Evaluate the Effect of One Dose of PBT2 (250mg daily) for 52 weeks on Ab Deposition in the Brains of Patients with Mild Alzheimer’s Disease Compared to Placebo and to Evaluate the Safety and Tolerability of PBT2 (250mg daily) for 52 weeks in Patients with Mild Alzheimer’s Disease |
|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Agreement                       |   | Details                         |
|---------------------------------|--------|---------------------------------|
| Original Agreement              |   | WA002                           |
| Date of Original Agreement      |   | Version 4, doted 2nd April 2012 |
| Amendment number                |   | Amendment #1                    |
| Version & Date of Amendment |   | Version 2, doted 27th June 2012 |
| Project ID (INC internal code)  |   | 800089                          |
| Client                          |   | Prono Biotechnology Limited     |
| Client Project Code             |   | PBT2-204                        |
| Description of Amendment        |   |                            | ● | Additional 2 sites – RMH and Geelong Private |
|                            |   |                            | ● | 1 additional CRA |
|                            |   |                            | ● | Reduction in 1 day Monitoring visits |
|                            |   |                            | ● | Addition of 2 day Monitoring visits |
|                            |   |                            | ● | Deletion of Medical Monitor retainer |
|                            |   |                            | ● | Site Management adjustment |

| Prana 800089 (PBT2-204) version 2, 27th June 2012  |   |
|---------------------------------------------------------|--------|

----

| Costs Implication for Amendment      |   | Direct Costs (Services)   |
|--------------------------------------|--------|---------------------------|
|                                 |   |                      | ● | Study Training for additional 1 CRA @  $540/CRA = $540.00 |
|                                 |   |                      | ● | Additional 2 Sites Essential Document Collection @ $1350/site = $2,700.00 |
|                                 |   |                      | ● | Additional 14 months File Management  for 2 new sites @ $283/month = $3,959.00 |
|                                 |   |                      | ● | 16 x 1 hour Teleconference participation  for additional 1 CRA @ $138/telecom = $2,208.00 |
|                                 |   |                      | ● | 2 additional Study Initiation Visits @ $1620/visit = $3,240.00 |
|                                 |   |                      | ● | Reduction of 19 x 1 day monitoring visits @ $1932/visit = -$36,708.00 |
|                                 |   |                      | ● | 15 x 2 day monitoring visits @ $3174/visit = $47,610.00 |
|                                 |   |                      | ● | 2 additional Close out Visits @ $2070/visit = $4,140.00 |
|                                 |   |                      | ● | Addition of 2 months of Site Management for 1 site @ $593.50/month = $1,187.00 |
|                                 |   |                      | ● | Addition of 6 months of Site Management for 2 sites @ $1187/month = $7,121.00 |
|                                 |   |                      | ● | Reduction in 8 months of Site Management of 3 sites @ $1780/month = -$14,240.00 |
|                                 |   |                      | ● | 12 months Site Management for 2 new sites @ $1187/month = $14,242.00 |
|                                 |   |                      | ● | 2 months Site Management for 2 new sites @ $552/month = $1,104.00 |
|                                 |   |                      | ● | Deletion of Medical Monitor retainer =  -$6,704.00 |
|                                 |   |                      |   | -    Total Cost $30,398.00 |
|                                 |   | Indirect Costs (Expenses) |
|                                 |   |                      | ● | 15 days of additional Other Site Visit costs @ $50/day = $750.00 |
|                                 |   |                      | ● | Additional General Expenses for 2 new sites for 16 months @ $140/month = $2,240.00 |
|                                 |   |                      |   | -    Total Cost = $2,990.00 |
| Total Cost Implication for Amendment |   | $33,388.00                |

| Prana 800089 (PBT2-204) version 2, 27th June 2012  |   |
|---------------------------------------------------------|--------|

----

| Work Order             |   | Services    |   | Expenses   |   | Total Contract |
|------------------------|--------|-------------|--------|------------|--------|----------------|
| Original Work Order    |   | $353,588.00 |   | $10,000.00 |   | $363,588.00    |
| Amendment #1           |   | $30,398.00  |   | $2,990.00  |   | $33,388.00     |
| Revised Contract Value |   | $383,986.00 |   | $12,990.00 |   | $396,976.00    |

| GENERAL                                       |
|-----------------------------------------------|
| Phase                                         | II |
| Number of Study Sites + Location              | 5 sites in Melbourne |
| Number of Subjects Screened                   | Not Specified |
| Number of Subjects Randomised                 | 40 |
| Local Study Sponsor – Australia    | Prana |
| SOPs to be Used                               | INC |
| CLINICAL                                      |
| Site Identification                           | Sites have been identified by Prana |
| Investigator Meeting (length, location)       | 1 day meeting in Melbourne |
| Monitoring Frequency or Total No. Visits/Site | 4 x 1 day visits and 3 x 2 day visit per site |
| Paper or eCRF                                 | Paper |
| No. CRF pages/Subject                         | 80 pages |
| % SDV                                         | 100 |
| Monitor Location                              | Melbourne x 2 |
| Project Manager                               | Prana |
| SAFETY REPORTING and MEDICAL MONITORING       |
| No. (%) of SAEs Expected                      | Assume 1 |
| SAEs Initially Reported to...                 | INC |
| SAE Reporting to Local Regulatory Authority   | INC |
| Medical Monitor                               | Prana (INC as back up) |
| BIOMETRICS                                    |
| CRF Design                                    | INC |
| Medical Coding of Adverse Events              | MedDra |
| Medical Coding Medications                    | WHO Drug |
| Data Entry                                    | Double DE |
| Number of Datasets                            | 25 |
| No. of Check Programs per panel               | 7 |

| Prana 800089 (PBT2-204) version 2, 27th June 2012  |   |
|---------------------------------------------------------|--------|

----

| Expected Query rate    | 7 queries per 100 pages                                                                                           |
|------------------------|-------------------------------------------------------------------------------------------------------------------|
| Laboratory data        | Central labs: Safety data (electronic) Local labs: None                                                           |
| Exports                | 2 (draft and final)                                                                                               |
| Frequency of Reporting | Monthly Data Management Metrics                                                                                   |
| DSMC requirements      | 3 (10%, 40%, 70%)                                                                                                 |
| Statistics tasks       | Input to Protocol, Randomisation, Statistical Analysis Plan, Statistical Analyses, DSMB, Statistical Text for CSR |

| Service/Item                                   |   | Comments                                                                           |   | Responsibility  |   | Unit          |   | Unit Cost |   | Number of Units |   | Item Cost |   | AUD$     |
|------------------------------------------------|--------|------------------------------------------------------------------------------------|--------|-----------------|--------|---------------|--------|-----------|--------|-----------------|--------|-----------|--------|----------|
| Study Start Up Activities                      |   |                                                                               |   |            |   |          |   |      |   |            |   |      |   |     |
| Study Training/ Internal Kick Off Meeting      |   | Familiarisation, Protocol, IB, CRF, procedures etc.                                |   | CRA             |   | per CRA       |   | 1080      |   | 1.00            |   | 1,080     |   |     |
| Study Training                                 |   | Familiarisation etc.                                                               |   | CRA             |   | per CRA       |   | 540       |   | 1.00            |   | 540       |   |     |
| Essential document collection                  |   | Creation, Collection and tracking                                                  |   | CRA             |   | per site      |   | 1350      |   | 5.00            |   | 6,750     |   |     |
| Study Manual/Monitoring Manual Development     |   |                                                                               |   | Med Writer / PM |   | per manual    |   | 3100      |   | 1               |   | 3,100     |   |     |
| Study Files                                    |   | Set up of study master files and Investigator site files                           |   | PA              |   | per study     |   | 720       |   | 1.00            |   | 720       |   |     |
| File Management                                |   | per month                                                                          |   | PA              |   | per month     |   | 283       |   | 24.00           |   | 6,787     |   |     |
| File Management - 2 new sites                  |   | per month from August 2012                                                         |   | PA              |   | per month     |   | 283       |   | 14.00           |   | 3,959     |   |     |
|                                           |   |                                                                               |   |            |   |          |   |      |   |            |   | Subtotal  |   | $22.937  |
| Customer Project Team Meetings                 |   |                                                                               |   |            |   |          |   |      |   |            |   |      |   |     |
| Teleconference participation                   |   | 25 x 1 hour Telecon, 1 CRAs                                                        |   | CRA             |   | per telecon   |   | 138       |   | 25.00           |   | 3,450     |   |     |
| Teleconference participation                   |   | 16 x monthly hour Telecon, 1 CRA                                                   |   | CRA             |   | per telecon   |   | 138       |   | 16.00           |   | 2,208     |   |     |
|                                           |   |                                                                               |   |            |   |          |   |      |   |            |   | Subtotal  |   | $5,658   |
| Investigator’s Monitor’s Meeting   |   |                                                                               |   |            |   |          |   |      |   |            |   |      |   |     |
| Preparation of Presentations                   |   | Trident & Customer shared responsibility                                       |   | CRA             |   | per meeting   |   | 1620      |   | 1.00            |   | 1,620     |   |     |
| Attendance                                     |   | assume 1 day meeting, 1 CRA                                                        |   | CRA             |   | per CRA       |   | 1080      |   | 1.00            |   | 1,080     |   |     |
|                                           |   |                                                                               |   |            |   |          |   |      |   |            |   | Subtotal  |   | $2,700   |
| Site Visits                                    |   |                                                                               |   |            |   |          |   |      |   |            |   |      |   |     |
| Study Initiation                               |   | Incl. prep, travel, on-site, reporting & follow-up                             |   | CRA             |   | per visit     |   | 1620      |   | 5.00            |   | 8,100     |   |     |
| Monitoring Visits (1 Day visits)               |   | Incl. prep, travel, 1 day on-site, reporting & follow-up 4 visits/site         |   | CRA             |   | per visit     |   | 1932      |   | 20.00           |   | 38,640    |   |     |
| Monitoring Visits (2 Day visits)               |   | Incl. prep, travel, 2 day’s on-site, reporting & follow-up 3 visits/site |   | CRA             |   | per visit     |   | 3174      |   | 15.00           |   | 47,610    |   |     |
| Closeout visits                                |   | Incl. prep, travel, on-site, reporting & follow-up                             |   | CRA             |   | Per visit     |   | 2070      |   | 5.00            |   | 10,350    |   |     |
|                                           |   |                                                                               |   |            |   |          |   |      |   |            |   | Subtotal  |   | $104,700 |
| Site Management                                |   |                                                                               |   |            |   |          |   |      |   |            |   |      |   |     |
| Site Management (October 2011 - Nov 2011)      |   | 1 site                                                                             |   | CRA             |   | per month     |   | 593       |   | 2.00            |   | 1,187     |   |     |
| Site Management (Dec 2011 - May 2012)          |   | 2 sites                                                                            |   | CRA             |   | per month     |   | 1187      |   | 6.00            |   | 7,121     |   |     |
| Site Management (June 2012 - July 2013)        |   | 3 sites                                                                            |   | CRA             |   | per month     |   | 1780      |   | 14.00           |   | 24,923    |   |     |
| Site Management (August 2012 - July 2013)      |   | per month - 2 new sites                                                            |   | CRA             |   | per month     |   | 1187      |   | 12.00           |   | 14,242    |   |     |
| Site Management (August 2013 - September 2013) |   | 3 sites                                                                            |   | CRA             |   | per month     |   | 828       |   | 2.00            |   | 1,656     |   |     |
| Site Management (August 2013 - September 2013) |   | per month - 2 new sites                                                            |   | CRA             |   | per month     |   | 552       |   | 2.00            |   | 1,104     |   |     |
| Management/Supervision                         |   | per month                                                                          |   | Management      |   | per month     |   | 340       |   | 24.00           |   | 8,160     |   |     |
|                                           |   |                                                                               |   |            |   |          |   |      |   |            |   | Subtotal  |   | $58,392  |
| Safety Monitoring                              |   |                                                                               |   |            |   |          |   |      |   |            |   |      |   |     |
| Safety Administration                          |   | Incl. set up, maintenance and completion activities                                |   | Safety Officer  |   |          |   | 3979      |   | 1.00            |   | 3,979     |   |     |
| Initial Receipt and handling SAEs              |   | All events - assume 1 SAE                                                          |   | Safety Officer  |   | per SAE       |   | 330       |   | 1.00            |   | 330       |   |     |
| Medical Review of SAEs and Narrative creation  |   | Optional - as required                                                             |   | Medical Monitor |   | per SAE       |   | 838       |   | 0.00            |   | 0         |   |     |
| Reporting to local Authorities                 |   | Assume 1 Reportable events                                                         |   | Safety Officer  |   | per SAE       |   | 660       |   | 1.00            |   | 660       |   |     |
| Follow up of SAEs                              |   | Assume 2 hours/Follow-up/SAE, 1 Follow ups                                         |   | Safety Officer  |   | per follow-up |   | 330       |   | 1.00            |   | 330       |   |     |
| Investigator Notification Letters              |   | preparation and oversight                                                          |   | Safety Officer  |   | per letter    |   | 165       |   | 1.00            |   | 165       |   |     |
|                                           |   |                                                                               |   |            |   |          |   |      |   |            |   | Subtotal  |   | $5,464   |

| Prana 800089 (PBT2-204) version 2, 27th June 2012 |   |
|---------------------------------------------------|--------|

----

|   Service/Item                                |   | Comments                                                                                                                                   |   | Responsibility                |   | Unit                |   | Unit Cost |   | Number of Units |   | Item Cost |   | AUD$     |
|----------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|--------|---------------------|--------|-----------|--------|-----------------|--------|-----------|--------|----------|
| Data Management & Statistics                   |   |                                                                                                                                       |   |                          |   |                |   |      |   |            |   |      |   |     |
| CRF Design                                         |   | 25 unique pages. 80 pages of CRF and 11 pages of questionnaire. 91 Total pages.   One print run.                            |   | Data Operations Assoc Manager |   | 1 study             |   | 14520     |   | 1.00            |   | 14,520    |   |     |
| Database design and build                          |   |                                                                                                                                       |   | DBA/CDA                       |   | 1 Data set          |   | 463       |   | 25.00           |   | 11,563    |   |     |
| Database / Consistency Check programming      |   |                                                                                                                                       |   | OBA/CDA                       |   | 1 Check             |   | 53        |   | 208.25          |   | 11,114    |   |     |
| Data Validation Manual / Data Management Plan |   |                                                                                                                                       |   | CDA                           |   | 1 DVM/DMP      |   | 3400      |   | 1.00            |   | 3,400     |   |     |
| Data entry                                         |   | Double Data Entry 40 patients x 80 CRF pages plus 40 x 11 questionaires=3640 total pages. Cost per extra page=5.87                         |   | DE                            |   | 1 page              |   | 6         |   | 3640.00         |   | 21,385    |   |     |
| Medical Coding                                     |   | MedDRA - AE, WHO - Drug                                                                                                                    |   | DBA/CDA                       |   | 1 Coded term        |   | 6         |   | 800.00          |   | 5,036     |   |     |
| Data Cleaning / Monitoring                         |   | 3200 CRF pages. Cost per extra page=$5.10         224 Queries.Cost per extra query=$42.50     |   | CDA                           |   | 1 study             |   | 29617     |   | 1.00            |   | 29,617    |   |     |
| Quality Control                                    |   | 10% of all patients, 100% of all critical data (15% critical / 85% non critical)                                                           |   | CDA                           |   | 1 page              |   | 3         |   | 811.40          |   | 2,391     |   |     |
| Impart laboratory data                             |   | 1 central lab.                                                                                                                             |   | DBA/CDA                       |   | 1 study             |   | 3680      |   | 1.00            |   | 3,680     |   |     |
| Data exports                                       |   | Assume 2 exports                                                                                                                           |   | DBA                           |   | 1 export       |   | 360       |   | 2.00            |   | 720       |   |     |
| Database maintenance                               |   | Study Duration = 18 months                                                                                                                 |   | DBA                           |   | 1 month             |   | 0         |   | 18.00           |   | 4,320     |   |     |
| DM & Statistics - Project Management           |   | Client meetings & corresp, DM metrics. 1hrs/month x 18 months                                                                          |   | DM                            |   | 1 month             |   | 120       |   | 18.00           |   | 1,530     |   |     |
| Input to protocol                                  |   | Text and sample size calcualtion / power                                                                                                   |   | Statistician                  |   | 1 hour              |   | 200       |   | 4.00            |   | 800       |   |     |
| Generation of Randomisation schedule               |   | 1 Schedule.   40 Envelopes. Cost per                                                                                        |   | Statistician                  |   | 1                   |   | 1175      |   | 1.00            |   | 1,175     |   |     |
| Statistical Analysis Plan                          |   | Includes text and table and Isting shells                                                                                                  |   | Statistician                  |   | 1 Statistical       |   | 5840      |   | 1.00            |   | 5,840     |   |     |
| Identify Protocol Deviations and define Analysis   |   | Unblinding. Protocol deviations and                                                                                                        |   | Statistician                  |   | 1 study             |   | 1600      |   | 1.00            |   | 1,600     |   |     |
| Analysis Datasets                                  |   | Specification, Programming  & QC                                                                                             |   | SAS Programmer                |   | 1 study             |   | 4800      |   | 1.00            |   | 4,800     |   |     |
| Production of Tables 4 Listings                    |   | 15 Unique tables. Cost per extra $720 20 Repeat tables. Cost per extra $240 0 Figures. Cost per extra $42035 Listings, Cost per extra $300 |   | SAS Programmer                |   | 1 study             |   | 26100     |   | 1.00            |   | 26,100    |   |     |
| Statistical Analysis                               |   | 10 analysis endpoints. Cost per extra $400                                                                                                 |   | Statistician                  |   | 1 analysis endpoint |   | 400       |   | 10.00           |   | 4,000     |   |     |
| Provision of data to DSMB                          |   | Assumes interim running and QC of 6 TFLs in row Programming Tables and listings.                                                           |   | Statistician                  |   | 1 meeting           |   | 960       |   | 3.00            |   | 2,880     |   |     |
| Input to Final report                              |   | Text for inclusion in study report.                                                                                                        |   | Statistician                  |   | 1 hour              |   | 2400      |   | 1.00            |   | 2,400     |   |     |
|                                               |   |                                                                                                                                       |   |                          |   |                |   |      |   |            |   | Subtotal  |   | $158,869 |
| Medical Writing (Optional)                         |   |                                                                                                                                       |   |                          |   |                |   |      |   |            |   |      |   |     |
| Clinical study report (CSR)                        |   |                                                                                                                                       |   | Medical Writer                |   | per CSR             |   | 22497     |   | 1.00            |   | 22,497    |   |     |
| QA review of CSR                                   |   | Optional for Client                                                                                                                        |   | Medical Writer                |   | per CSR             |   | 2769      |   | 1.00            |   | 2,769     |   |     |
|                                               |   |                                                                                                                                       |   |                          |   |                |   |      |   |            |   | Subtotal  |   | $25,266  |
|                                               |   |                                                                                                                                       |   |                          |   |                |   |      |   |            |   |      |   |     |
|                                               |   |                                                                                                                                       |   |                          |   |                |   |      |   |            |   | TOTAL     |   | $383,986 |

| Expense/Item                                                                          |   | Comments                                            |   | Unit Cost  |   | Numberof Units |   | Item CostAUD$ |   | AUD$    |
|---------------------------------------------------------------------------------------|--------|-----------------------------------------------------|--------|------------|--------|----------------|--------|---------------|--------|---------|
| Site Visits                                                                           |   |                                                |   |       |   |           |   |          |   |    |
| Other Site visit Costs                                                                |   | Parking/tolls/meals and incidentals for site visits |   | $50/day    |   | 60.00          |   | 3,000         |   |    |
|                                                                                  |   |                                                |   |       |   |           |   | Subtotal      |   | $3,000  |
| General Expenses                                                                      |   |                                                |   |       |   |           |   |          |   |    |
| General Expenses - Couriers, Postage, Telecommunications, Copying, stationery (files) |   | $70/site/month, 3 sites for 25 months               |   | $210/month |   | 25             |   | 5,250         |   |    |
| General Expenses - Couriers. Postage, Telecommunications, Copying, stationery (files) |   | $70/site/month, 2 new sites for 16 months           |   | $140/month |   | 16             |   | 2,240         |   |    |
|                                                                                  |   |                                                |   |       |   |           |   |          |   |    |
| CRF Printing                                                                          |   |                                                |   | $2,500     |   | 1              |   | 2,500         |   |    |
|                                                                                  |   |                                                |   |       |   |           |   | Subtotal      |   | $9,990  |
|                                                                                  |   |                                                |   |       |   |           |   |          |   |    |
|                                                                                  |   |                                                |   |       |   |           |   | TOTAL         |   | $12,990 |

| Prana 800089 (PBT2-204) version 2, 27th June 2012 |   |
|---------------------------------------------------|--------|

----

| Prana Biotechnology Limited |                    |
|-----------------------------|-------------------------|
|                        |                    |   |
| By:                         |                         |   |
|                        |                    |   |
| Name:                       | Dianne Angus            |   |
|                        |                    |   |
| Title:                      | Chief Operating Officer |   |
|                        |                    |   |
| Date:                       | 13 July 2012            |   |

| INCResearch Australia Pty Limited |                                                    |
|-----------------------------------|---------------------------------------------------------|
|                              |                                                    |   |
| By:                               |                                                         |   |
|                              |                                                    |   |
| Name:                             | Garth Tierney                                           |   |
|                              |                                                    |   |
| Title:                            | Regional General Manager, Australia and South East Asia |   |
|                              |                                                    |   |
| Date:                             | 19 July 2012                                            |   |

| Prana 800089 (PBT2-204) version 2, 27th June 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, l0th April 2013   |

----

|                 |   | Effective Date   |   | Direct Costs AUD$ |   | Indirect CostsAUD$ |   | Grand Total AUD$ |
|----------------------|--------|------------------|--------|-------------------|--------|--------------------|--------|------------------|
| 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, l0th April 2013   |

----

| Service/Item                                 |   | Comments                                                 |   | Responsibility |   | Unit       |   | UnitCost (AUD) |   | OriginalNumberof Units |   | CO#1 Numberof Units |   | Original Item Cost (AUD$) |   | CO#1 Item Cost (AUD$) |   | TOTAL COST AUD$     |
|----------------------------------------------|--------|----------------------------------------------------------|--------|----------------|--------|------------|--------|----------------|--------|------------------------|--------|---------------------|--------|---------------------------|--------|-----------------------|--------|---------------------|
| Study Start Up Activities                    |   |                                                     |   |           |   |       |   |           |   |                   |   |                |   |                      |   |                  |   |                |
| Study Training/Internal Kick Off Meeting     |   | Familiarisation, Protocol, IB                            |   | CRA            |   | perCRA     |   | 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            |   | persite    |   | 1123           |   | 5                      |   | 0                   |   | 5,616                     |   | 0                     |   |                |
| Study Files                                  |   | Set-up of Study Master Files and Investigator Site Files |   | PA             |   | perstudy   |   | 749            |   | 1                      |   | 0                   |   | 749                       |   | 0                     |   |                |
| CRA Administration (March 2012 -May 2012)    |   | Communications -Customer, Site, Project Manager          |   | CRA            |   | permonth   |   | 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             |   | pertelecon |   | 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            |   | perCRA     |   | 1123           |   | 1                      |   | 0                   |   | 1,123                     |   | 0                     |   |                |

| INC Research, LLC – CONFIDENTIAL |
|---------------------------------------------|

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

----

| INC Research, LLC Change Order Form |
|-------------------------------------|

| Service/Item                                        |   | Comments                                                                                  |   | Responsibility |   | Unit           |   | UnitCost(AUD) |   | OriginalNumber of Units |   | CO#1Number of Units |   | Original ItemCost (AUD$) |   | CO#1Item Cost (AUD$) |   | 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            |   | Pervisit       |   | 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            |   | Pervisit       |   | 3015          |   | 0                       |   | 8                   |   | 0                        |   | 24,117               |   |               |
| Monitoring Visits (4 Day Visits)                    |   | Including Preparation, Travel, 4 days On-site, Reporting and Follow-up                    |   | CRA            |   | pervisit       |   | 5886          |   | 0                       |   | 1                   |   | 0                        |   | 5,886                |   |               |
| Closeout Visits                                     |   | Includes Preparation, Travel, Time On-site, Reporting and Follow-up                       |   | CRA            |   | pervisit       |   | 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            |   | Permonth       |   | 1460          |   | 2                       |   | 0                   |   | 2,920                    |   | 0                    |   |               |
|                                                |   |                                                                                      |   |           |   |           |   |          |   |                    |   | Subtotal            |   | 52,303                   |   | 0                    |   | $52,303            |

| INC Research, LLC – CONFIDENTIAL |
|---------------------------------------------|

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, l0th April 2013  |

----

| INC Research, LLC Change Order Form |
|-------------------------------------|

| Service/Item                                                  |   | Comments                                               |   | Responsibility  |   | Unit     |   | Unit Cost (AUD) |   | Original Number of Units |   | CO#1 Number of Units |   | Original Item Cost (AUD$) |   | CO#1 Item Cost (AUD$) |   | TOTAL COSTAUDS       |
|---------------------------------------------------------------|--------|--------------------------------------------------------|--------|-----------------|--------|----------|--------|-----------------|--------|--------------------------|--------|----------------------|--------|---------------------------|--------|-----------------------|--------|----------------------|
| Project Management                                            |   |                                                   |   |            |   |     |   |            |   |                     |   |                 |   |                      |   |                  |   |                 |
| Local Coordination/Supervision (March 2012 - May 2012)        |   | per Month                                              |   | PM              |   | permonth |   | 5158            |   | 3                        |   | 0                    |   | 15,475                    |   | 0                     |   |                 |
| Local Coordination/Supervision (June 2012 - September 2013)   |   | per Month                                              |   | PM              |   | permonth |   | 3296            |   | 16                       |   | 0                    |   | 52,743                    |   | 0                     |   |                 |
| Local Coordination/Supervision (October 2013 - November 2013) |   | per Month                                              |   | PM              |   | permonth |   | 3353            |   | 2                        |   | 0                    |   | 6,706                     |   | 0                     |   |                 |
|                                                          |   |                                                   |   |            |   |     |   |            |   |                     |   |                 |   |                      |   |                  |   |                 |
| Project Assistance (March 2012 - November 2013)               |   | per Month                                              |   | PA              |   | permonth |   | 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  |   | perstudy |   | 4597            |   | 1                        |   | 0                    |   | 4,597                     |   | 0                     |   |                 |
| Handling of SAEs (Notifications)                              |   | All Events - Assume 10                                 |   | Safety Officer  |   | perSAE   |   | 330             |   | 1                        |   | 9                    |   | 330                       |   | 2,967                 |   |                 |
| Medical Review of SAEs and Narrative Creation                 |   | All Events - Assume 1 SAE                              |   | Medical Monitor |   | perSAE   |   | 851             |   | 1                        |   | 0                    |   | 851                       |   | 0                     |   |                 |
| Reporting to Local Authorities                                |   | All Events - Assume 5                                  |   | Safety Officer  |   | perSAE   |   | 659             |   | 1                        |   | 4                    |   | 659                       |   | 2,637                 |   |                 |
| 6-Monthly SUSAR Line Listing                                  |   | Preparation, distribute and tracking                   |   | Safety Officer  |   | perstudy |   | 494             |   | 0                        |   | 1                    |   | 0                         |   | 494                   |   |                 |
| Safety Management Plan (review)                               |   |                                                   |   | Safety Officer  |   | perstudy |   | 659             |   | 1                        |   | 0                    |   | 659                       |   | 0                     |   |                 |

| INC Research, LLC – CONFIDENTIAL |
|---------------------------------------------|

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, l0th April 2013  |

----

| INC Research, LLC Change Order Form |
|-------------------------------------|

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

| Expense/Item                                            |   | Comments                                                                           |   | Unit Cost   |   | Original Numberof Units |   | CO#1 Numberof Units |   | OriginalItem Cost AUD$ |   | CO#1 ItemCostAUD$ |   | TOTALCOSTAUD$      |
|---------------------------------------------------------|--------|------------------------------------------------------------------------------------|--------|-------------|--------|-------------------------|--------|---------------------|--------|------------------------|--------|-------------------|--------|--------------------|
| Investigator’s/Monitor’s Meeting Attendance |   |                                                                               |   |        |   |                    |   |                |   |                   |   |              |   |               |
|                                                    |   | Airfares, accommodation &                                                      |   |        |   |                    |   |                |   |                   |   |              |   |               |
| Travel/Attendance Costs                                 |   | 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                 |   |               |

| INC Research, LLC – CONFIDENTIAL |
|---------------------------------------------|

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, l0th April 2013  |

----

| INC Research, LLC Change Order Form  |
|-------------------------------------------|

| 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, l0th 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                                             |

| INC Research, LLC – CONFIDENTIAL |
|---------------------------------------------|

| INCResearch Australia Pty Limited - 1000504 |
|---------------------------------------------|
| Prana Change Order #1, v2, l0th April 2013  |

----

----