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|         |                                    |
|--------------|-----------------------------------------|
| Confidential | P-30052 - Prana Biotechnology Ltd - v01 |

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| 2.     | Scope of Work:                                                                                                                                                                                                                                                                                                                                                                                            |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | Based on the preliminary information provided by the client, the following are considered to be the estimated milestones of this project. The scope of the project and price may change upon receipt of additional information. Upon signature of the proposal as intent to move forward, Project Management will schedule a project kick off meeting to review deliverables, requirements and timelines. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |
|   | v                                                                                                                                                                                                                                                                                                                                                                                                         | Milestone 1: 28-Day Oral Toxicity Study with a preliminary 5 Day Range Finder (Assay code: 2G3R.BTL) |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | a.                                                                                                                                                                                                                                                                                                                                                                                                        | 10 mice/sex/dose; 3 dose groups plus VC; oral gavage dosing daily for 28 days; weekly dose formulations; TK sample collection on Study Day 1 and end of study, 6 timepoints per day, (one timepoint VC), 3 mice/sex/group/timepoint; body weights, clinical signs; clinical pathology end of study (5 mice/sex/group); full necropsy with organ weights; histopathology high dose and vehicle with a read down of target tissues at an additional charge |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | b.                                                                                                                                                                                                                                                                                                                                                                                                        | 5 Day Study includes 5 dose groups plus vehicle control; 5/sex/group; 5 days of dosing; body weights, clinical signs (NO TK). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | v                                                                                                                                                                                                                                                                                                                                                                                                         | Milestone 2: Analytical Method Validation and Dose Formulation Analysis (Assay code: MTCHEM.BTL and DSAMT.BTL) |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      | a. | Transfer validation, one test article, one vehicle on HPLC |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      | b. | Dose formulation analysis for 3 dosing suspensions to be analyzed (per run) on HPLC or GC; 2 analyses total – from first and last batches prepared. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      | c. | If the assay performs per specifications, BioReliance will move to the next Milestone |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      | a. | If further development is required, BioReliance will work with the client to determine the scope of that work and generate a new proposal, an amendment to this proposal or a quote |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | v                                                                                                                                                                                                                                                                                                                                                                                                         | Milestone 3: Toxicokinetics Analysis Report (Assay code: TKA.BTL) |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      | a. | PK/TK calculations with tables |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |
|   | ●                                                                                                                                                                                                                                                                                                                                                                     | Regulatory Requirement: GLP |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | ●                                                                                                                                                                                                                                                                                                                                                                     | Deliverables to the client: Interim data updates, data tables, draft report, final report |
|   |                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | ●                                                                                                                                                                                                                                                                                                                                                                     | Requirement from the client: test article, signed proposal and PO, signed study protocol, COA, MSDS |

|         |                                    |   |
|--------------|-----------------------------------------|--------|
| Confidential | P-30052 - Prana Biotechnology Ltd - v01 |   |

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|   | Note: | Any changes to the scope of this study including, but not limited to design, performance, materials and/or equipment are subject to BioReliance change control process, which may result in additional cost to the client. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note:  | Unless otherwise stated or requested, this study will be conducted in compliance with the U.S. FDA Good Laboratory Practice regulations (21 CFR Section 58) and the OECD Principles of Good Laboratory Practice. BioReliance is fully accredited for GLP. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                      |
| 3.     | Contacts:                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                      |
|   | BioReliance point of contact for this project will be:                                                                                                                                                                                               |
|   | Diane BrechaManager US Toxicology Commercial Operations301-260-7544diane.brecha@bioreliance.com                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                      |
|   | Jo-Anne BurlewProject Manager301-610-2233Jo-anne.burlew@bioreliance.com                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                      |
|   | Client point of contact for this project will be:                                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                      |
|   | Elisabeth GautierLevel 2, 369 Royal ParadeParkville, Victoria 3052Australia+61 3 9349 4906egautier@pranabio.com                                                                                                                                           |
|   |                                                                                                                                                                                                                                                      |
| 4.     | Study Price:                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                      |

|   | Description                                                                           |   | Assay Number     |   | Price ($) |        |
|--------|---------------------------------------------------------------------------------------|--------|------------------|--------|-----------|-------------|
|   | Milestone 1: 28-Day Oral Toxicity Study in Mice with a 5 Day Preliminary Range Finder |   | 2G3R             |   | $         | 298,000     |   |
|   | Milestone 2: Analytical Method Validation and Dose Formulation Analysis               |   | MTCHEM and DSAMT |   | $$        | 10,2606,300 |   |
|   | Milestone 3: Toxicokinetics Analysis Report                                           |   | TKA              |   | $         | 7,700       |   |
|   | Total                                                                                 |   |             |   | $         | 322,260     |   |

|   | Note:                                                                                                                                                                                                                                                                                                                                      | The pricing information provided in this proposal is an estimate based on the details available. Any changes to the scope of this study including, but not limited to design, performance, materials and/or equipment are subject to BioReliance change control process, which may result in additional cost to the client. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                       |                                                                                                                                                                                                                                                                                                                        |
|   | All data and results generated from a client test article run on a BioReliance assay are confidential and are solely owned by the client. In addition, all data and results generated from a client test article on a BioReliance assay cannot be shared with any other entity without first receiving written permission from the client. |

| Confidential | P-30052 - Prana Biotechnology Ltd - v01 |   |
|--------------|-----------------------------------------|--------|

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|   | The study will be performed in accordance with the appropriate Protocol.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | Our basic compensation for performing this Study shall be stated as above.Basic compensation includes issuance of one draft report (if requested) for Sponsor review and comment prior to finalization of the report. If no comments to the draft report are received within 6 months of issuance of the draft report, BioReliance reserves the right to issue a final report. Any changes made after the final report is issued will be done at an additional cost to the Sponsor.                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | For any assay design or qualification BioReliance shall receive correct information from the Client or use appropriate information from public domains. BioReliance will use its experience to guide an optimal design. The assay is the property of BioReliance and BioReliance is the exclusive owner of any and all rights related to the assay. The Client shall not use and has no right to perform, commercialize, transfer, divulge or apply the assay to any other project or other entity’s samples without the express written consent of BioReliance. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | By initiating this study neither party grants or implies the transfer of any Intellectual Property.                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 5.     | Payment Terms                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | Unless superseded by a separate, signed written agreement between BioReliance and Client, invoices shall be paid in accordance with the following terms, contingent on a satisfactory credit review:                                                                                                                                                                                                                                                                                                                                                              |

|   |   | For 5/28 Day Study: |   |                                                           |
|--------|--------|---------------------|--------|----------------------------------------------------------------|
|   |   |                |   |                                                           |
|   |   | % of Total Invoice  |   | Time of Invoice Submission                                     |
|   |   | 36%                 |   | Upon initiation of study or arrival of animals for 5 day study |
|   |   | 34%                 |   | Forty-five (45) days after initiation of study                 |
|   |   | 30%                 |   | Forty-five (45) days after delivery of the draft report        |

|   | Unless otherwise agreed in writing by BioReliance, payment shall be due net thirty (30) days from the date of the invoice.                          |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                |
| 6.     | Timeline                                                                                                                                            |
|   |                                                                                                                                                |
|   |  v                                                                                                                                             | BioReliance Project Management will generate a project plan to be reviewed and agreed to with the client and toxicology operations. |
|   |                                                                                                                                                |
|   |  v                                                                                                                                             | BioReliance Project Management will keep the client informed of any schedule changes during the course of a study. |
|   |                                                                                                                                                |   |
| 7.     | Cancellation                                                                                                                                        |
|   |                                                                                                                                                |
|   | Unless superseded by a separate, signed written agreement between BioReliance and Client the following cancellation fee will apply to each Project: |

|   |  v | Cancellation within 2 weeks of Lab Initiation: |   | 20% of the total cost of project              |
|--------|---------|------------------------------------------------|--------|-----------------------------------------------|
|   |    |                                           |   |                                          |
|   |  v | Cancellation after Lab Initiation:             |   | 50% of all initiated assays or Milestones     |
|   |    |                                           |   |                                          |
|   |  v | Cancellation after Lab Completion:             |   | 90% of all Lab completed assays or Milestones |

| Confidential | P-30052 - Prana Biotechnology Ltd - v01 |   |
|--------------|-----------------------------------------|--------|

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| 8.     | Terms and Conditions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | Except to the extent superceded by a separate signed written agreement between BioReliance and the Client, this study will be governed by the relevant BioReliance Statement of Terms and Conditions, which are incorporated herein by reference. Terms and Conditions are available at http://www.bioreliance.com/downloadable forms conditions.aspx.                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 9.     | Repeats                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | Repeat testing may be subject to additional charges to the client. Prior to initiating any work, including repeat testing, considered out of scope for this proposal, BioReliance Project Management or Account Manager will review with the client by means of a change control with quotation and/or proposal amendment.                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.    | Risk Assessments and Safety                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | Any known safety hazards associated with the test articles or reagents supplied for use in these studies must be reported to BioReliance in order to allow a full risk assessment of the study to be conducted. Please be aware that there may be a requirement for licences to import and/or handle certain biological or infectious materials, and it is essential that these be in place before shipment of materials is arranged. Please note that no work shall commence until all relevant risk assessments and licences are in place. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 11.    | Signatures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   | As intent to move forward on the aforementioned study, BioReliance requires a hard copy of a valid Purchase Order and signature below by an authorized company representative.                                                                                                                                                                                                                                                                                                                                                               |

| Prana Biotechnology Ltd:                                                            |   | BioReliance:                  |
|------------------------------------------------------------------------------------------|--------|------------------------------------|
|                                                                                     |   |                               |
| Signature           DIANNE ANGUS       |   | Signature Diane Brecha        |
| Name           Chief Operating Officer |   | Name Manager, US Tox Comm Ops |
| Title           24 June 2013           |   | Title  18 June 2013           |
| Date                                                                                     |   | Date                               |

|   Confidentiality                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| This document has been prepared by and remains the sole property of BioReliance. It is submitted to the Client solely for use in evaluating BioReliance’s qualifications and/or quotations concerning the particular projects for which it was prepared. This document is confidential to BioReliance, and the Client agrees to treat the document in accordance with the terms of any Confidentiality Agreements previously signed and, in any event, shall not disclose to any third party without the consent of BioReliance not to be unreasonably withheld. |

| Confidential | P-30052 - Prana Biotechnology Ltd - v01 |   |
|--------------|-----------------------------------------|--------|

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|   |                                                                                             |
|--------|--------------------------------------------------------------------------------------------------|
| a)     | is already lawfully known to BioReliance; or                                                     |
| b)     | is or becomes publicly known by any means whatsoever, through no wrongful act of BioReliance; or |
| c)     | is received from a third party without breach of this Agreement; or                              |
| d)     | is disclosed pursuant to an enforceable order of a court of competent jurisdiction; or           |
| e)     | is independently developed by or for BioReliance as evidenced by written records.                |

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|                                 |   |
|---------------------------------|--------|
| Signature                       |   |
|                            |   |
| Date: 21 June 2013              |   |
|                            |   |
| Name: Dianne Angus              |   |
|                            |   |
| Title: Chief Operating Officer  |   |
|                            |   |
| BioReliance Corporation         |   |
|                            |   |
|                                 |   |
| Signature                       |   |
|                            |   |
| Date: June 29,2013              |   |
|                            |   |
| Name: WILLIAM J. [ILLEGIBLE]    |   |
|                            |   |
| Title: Director of Legal Affair |   |

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