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| RE: | Letter Agreement for Clinical Trial Services for the Study Entitled: “A randomized, double-blind, placebo controlled study to assess the safety and tolerability and efficacy of PBT2 in patients with early to mid-stage Huntington disease”. Protocol # PBT2-203 |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.   | INC Research shall undertake certain preliminary, preparatory activities prior to the completion of contract negotiations. These activities are listed in Attachment A (“Services”). Until such time as a work order is executed and unless otherwise expressly set forth in this Letter Agreement, INC Research agrees to perform the Services, and so too will Sponsor perform its obligations, in accordance with the terms and conditions set forth in the Master Services Agreement effectively dated 22nd September 2011 (“Master Agreement”). |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Upon execution of this Letter Agreement, Sponsor will pay to INC Research start-up fees in the amount of AUD $200,000 and pass through costs in the amount of AUD $10,000 to undertake the Services associated with matters of immediate agreement. Payment is to be made to INC Research within three (3) business days following Sponsor’s execution of this Letter Agreement and may become the first milestone payment under the work order. Such payment may be applied toward the final reconciliation of the study budget upon study termination or cancellation in connection with this Letter Agreement or the executed work order, as applicable. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| INCResearch Australia Ply Limited                                                      |   |
|----------------------------------------------------------------------------------------|--------|
| 1003687 Prana Biotechnology Limited Letter Agreement with MSA Template v2.0 2nd Oct 13 |   |

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|   | If to Sponsor:                             |                                   |                              |
|--------|--------------------------------------------|----------------------------------------|-----------------------------------|
|   |                                       |                                   |                              |
|   | For Communications & Accounts Payable: |
|   |                                       |                                   |                              |
|   |                                       |                                   | Carolyn Stone                     |
|   |                                       |                                   | Clinical Program Manager          |
|   |                                       |                                   | Prana Biotechnology Limited       |
|   |                                       |                                   | Level 2                           |
|   |                                       |                                   | 369 Royal Parade                  |
|   |                                       |                                   | Parkville VIC 3052 Australia      |
|   |                                       |                                   | cstone@pranabio.com               |
|   |                                       |                                   |                              |
|   |                                       |                                   | Cc: Caroline Herd                 |
|   |                                       |                                   | cherd@pranabio.com                |
|   |                                       |                                   |                              |
|   | If to INC Research:                        |                                   |                              |
|   |                                       |                                   |                              |
|   | For Communications:                        |                                   |                              |
|   |                                       |                                   |                              |
|   |                                       |                                   | Contracts Management              |
|   |                                       |                                   | INCResearch Australia Pty Limited |
|   |                                       |                                   | 124 Lipson Street                 |
|   |                                       |                                   | Port Adelaide SA 5015 Australia   |
|   |                                       |                                   | Phone: +61 (0) 8 7202 1500        |
|   |                                       |                                   | Facsimile: +61 (0) 8 7202 1599    |
|   |                                       |                                   |                              |
|   |                                       |  Cc: Sponsor Contracts Management |
|   |                                       |                                   | INC Research, LLC                 |
|   |                                       |                                   | 3201 Beechleaf Court              |
|   |                                       |                                   | Suite 600                         |
|   |                                       |                                   | Raleigh, NC 27604-1547            |
|   |                                       |                                   | Phone: 919-876-9300               |
|   |                                       |                                   | Facsimile: 919-882-0425           |

| INCResearch Australia Pty Limited                                                     |   |
|---------------------------------------------------------------------------------------|--------|
| 1003687 Prana Biotechnology Limited Letter Agreement with MSA Template v2.0 2nd Oct13 |   |

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|   | For Payments (Via Wire):  |   |                                                         |
|--------|---------------------------|--------|--------------------------------------------------------------|
|   |                      |   |                                                         |
|   | Beneficiary Bank:         |   | HSBC Bank Australia Ltd                                      |
|   | Beneficiary Bank Address: |   | Ground Floor, 55 Grenfell Street Adelaide SA 5000, Australia |
|   | Account Name:             |   | INCResearch Australia Pty Limited                            |
|   | BSB (Routing Number):     |   |                                                         |
|   | Account Number:           |   |                                                         |
|   | Swift:                    |   |                                                         |

| 3.   | It is understood by the parties that until the time that this Letter Agreement is duly executed by each party, no obligations of performance whatsoever are incumbent on any party. Accordingly, INC Research shall be under no obligation to perform and shall not perform any services or incur any costs until the initial payment is made as described above. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The parties acknowledge and agree that it is their mutual intent to swiftly negotiate the work order that more completely sets forth their respective rights and obligations in connection with the Services. Accordingly, promptly upon execution of this Letter Agreement if not sooner, the parties shall commence good faith negotiations in an effort to reach agreement on the terms and conditions of such a work order. Should a work order not be executed, Sponsor agrees to pay all costs incurred by INC Research in performing the Services up to the date of termination of negotiations or the end of any necessary winding down period, whichever occurs last (consistent with paragraph 2 above). |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | The term of this Letter Agreement shall commence as of the date hereof and end upon the effective date of the work order or 18th October 2013 whichever is earlier. The term of this Letter Agreement may only be extended beyond 18th October 2013 upon written agreement of both parties. Sponsor party may terminate this Letter Agreement for any reason upon fourteen (14) days notice to the other party. The parties agree that upon any cancellation, default, or termination of this Letter Agreement, Sponsor shall have the right to a remittance of any advanced payments to INC Research, less any fees and expenses accrued and incurred. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| INCResearch Australia Pty Limited                                                      |   |
|----------------------------------------------------------------------------------------|--------|
| 1003687 Prana Biotechnology Limited Letter Agreement with MSA Template v2.0 2nd Oct 13 |   |

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| INCResearch Australia Pty Limited |                     |                                                               | Prana Biotechnology Limited |
|-----------------------------------|--------------------------|--------------------------------------------------------------------|-----------------------------|
|                              |                     |                                                               |                        |   |   |   |   |   |   |
| By:                     |                          |                                                               |                        | By:   |   |
|                              |                     |                                                               |                        |   |   |   |   |
| Name:                             | Andrew l. Shaw, Esq      |                                                               |                        | Name:  | Dianne Angus  |
|                              |                     |                                                               |                        |   |   |   |   |   |
| Title:                       | Senior Corporate Counsel |            LEGAL |                        | Title:  | Chief Operating Officer |
|                              |                     |                                                               |                        |   |   |   |   |   |
| Date:                        | 03 Oct 2013              |                                                               |                        | Date:  | 2ndOctober 2013 |

| INCResearch Australia Pty Limited                                                      |   |
|----------------------------------------------------------------------------------------|--------|
| 1003687 Prana Biotechnology Limited Letter Agreement with MSA Template v2.0 2nd Oct 13 |   |

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| ● |  Complete CRF design |
|---------|---------------------------|

| ● |  Initiate Database Build |
|---------|-------------------------------|

| ● |  Study Staff Familiarization on Study requirements-completed. |
|---------|--------------------------------------------------------------------|

| ● |  Sponsor Teleconference Participation, a minimum of one per week. |
|---------|------------------------------------------------------------------------|

| ● |  Internal Teleconference Participation |
|---------|---------------------------------------------|

| ● |  CRA Training Days – 30 Sep 13, Melbourne, Australia and 2 Oct 13, Chicago, USA CRAs and LCRAs to attend (exact numbers to be confirmed) |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | 10 Monitoring Visits – Australia and USA of which at least ten to be completed within the term, subject to sites availability |
|---------|-------------------------------------------------------------------------------------------------------------------------------------|

| ● |  Monitoring Visit Report Template Generation- completed |
|---------|--------------------------------------------------------------|

| ● |  Initiate LCRA Project Management Activities (Australia and US) |
|---------|----------------------------------------------------------------------|

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

| INCResearch Australia Pty Limited                                                      |   |
|----------------------------------------------------------------------------------------|--------|
| 1003687 Prana Biotechnology Limited Letter Agreement with MSA Template v2.0 2nd Oct 13 |   |

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| INCResearch Australia Pty Limited                                                      |   |
|----------------------------------------------------------------------------------------|--------|
| 1003687 Prana Biotechnology Limited Letter Agreement with MSA Template v2.0 2nd Oct 13 |   |

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