# EDGAR Filing Document

**Accession Number:** 0001314052
**File Stem:** 0001731122-25-000935
**Filing Date:** 2025-7
**Character Count:** 42220
**Document Hash:** 727e9ec8ed3d2cb2b02aaa796f6f8eba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731122-25-000935.hdr.sgml**: 20250703

**ACCESSION NUMBER**: 0001731122-25-000935

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250703

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250703

**DATE AS OF CHANGE**: 20250703

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ANAVEX LIFE SCIENCES CORP.
- **CENTRAL INDEX KEY:** 0001314052
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 980608404
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37606
- **FILM NUMBER:** 251106434

**BUSINESS ADDRESS:**
- **STREET 1:** 630 5TH AVENUE
- **STREET 2:** 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10111
- **BUSINESS PHONE:** 844-689-3939

**MAIL ADDRESS:**
- **STREET 1:** 630 5TH AVENUE
- **STREET 2:** 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Thrifty Printing Inc.
- **DATE OF NAME CHANGE:** 20050111

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION** 

 **Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **July 3, 2025**

**<u>ANAVEX LIFE SCIENCES CORP.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **<u>Nevada</u>** | **<u>001-37606</u>** | **<u>98-0608404</u>** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

**630 5th Avenue**

**20th Floor**

**New York, NY 10111**

(Address of principal executive offices) (Zip Code)

**<u>1-844-689-3939</u>**

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol** | **Name of Each Exchange on Which Registered** |
| Common Stock, par value $0.001 per share | AVXL | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On July 3, 2025 and effective July 5, 2025, Anavex Life Sciences Corp., a Nevada corporation (the "<u>Company</u>"), entered into the Fourth Amendment to Employment Agreement (the "<u>Missling Amendment</u>") with Christopher Missling, PhD, in his continuing capacity as Chief Executive Officer of the Company. The Missling Amendment amends the Employment Agreement by and between the Company and Dr. Missling, dated June 27, 2013, as most recently amended by the Third Amendment to Employment Agreement dated April 7, 2022 (as amended, the "<u>Missling Employment Agreement</u>").

The Missling Amendment is made to extend the term of the Missling Employment Agreement through July 5, 2028, unless earlier terminated as provided in the Missling Amendment. Pursuant to the terms of the Missling Amendment, beginning July 5, 2025, Dr. Missling shall receive an annual base salary of $800,000 and is eligible to earn an annual cash target bonus for each whole or partial calendar year of twenty percent of his base salary and an annual equity grant in an amount to be determined by the compensation committee of the Company's board of directors.

Additionally, effective July 3, 2025, the Company entered into the Third Amendment to Employment Agreement (the "<u>Boenisch Amendment</u>") with Sandra Boenisch, in her continuing capacity as Principal Financial Officer of the Company. The Boenisch Amendment amends the Amended and Restated Employment Agreement by and between the Company and the PFO dated October 4, 2017, as most recently amended by the Second Amendment to Employment Agreement dated February 28, 2022 (as amended, the "<u>Boenisch Employment Agreement</u>").

The Boenisch Amendment provides that the term of the Boenisch Employment Agreement shall continue indefinitely, unless terminated as provided in the Boenisch Amendment. Pursuant to the terms of the Boenisch Amendment, Ms. Boenisch shall receive an annual base salary of $279,840 Canadian Dollars and is eligible to earn an annual cash target bonus for each calendar year of twenty percent of her base salary. The Boenisch Amendment also amended the termination provisions of the Boenisch Employment Agreement, including to increase the amount of severance owed to Ms. Boenisch if she is terminated without cause from six (6) months to twelve (12) months of her base salary, and provides for additional employment related benefits for Ms. Boenisch.

The summary of the Missling Amendment and the Boenisch Amendment provided herein is qualified in their entirety by the terms of such agreement, which are fully set forth and attached hereto as Exhibits 10.1 and 10.2, respectively, and which are incorporated by reference herein.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | | |
|:---|:---|:---|
| **EXHIBIT NO.** | **DESCRIPTION** | **LOCATION** |
| 10.1 | [Fourth Amendment to Employment Agreement by and between Anavex Life Sciences Corp. and Christopher Missling, PhD, dated July 3, 2025](e6684_ex10-1.htm) | Filed herewith |
| 10.2 | [Third Amendment to Employment Agreement by and between Anavex Life Sciences Corp. and Sandra Boenisch, dated July 3, 2025](e6684_ex10-2.htm) | Filed herewith |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |  |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **ANAVEX LIFE SCIENCES CORP.** | **ANAVEX LIFE SCIENCES CORP.** |
| By: | */s/ Christopher Missling* |
|  | Name: Christopher Missling, PhD<br> Title: Chief Executive Officer |

---

Date: July 3, 2025

## Exhibit 10.1

**EXHIBIT 10.1**

**FOURTH AMENDMENT TO**

**EMPLOYMENT AGREEMENT**

This Fourth Amendment to Employment Agreement (this "**<u>Amendment</u>**") is executed on this 3<sup>rd</sup> day of July 2025, and made effective as defined below (the "**<u>Effective Date</u>**"), by and between **Christopher Missling, PhD** (hereinafter referred to as "**<u>Executive</u>**") and Anavex Life Sciences Corp. ("**<u>Employer</u>**" and, together with its subsidiaries, the "**<u>Company</u>**") and serves to amend that certain Employment Agreement dated June 27, 2013, as amended from time to time (the "**<u>Employment Agreement</u>**"), by and between Executive and the Company. Except as otherwise provided in this Amendment, capitalized terms used in this Amendment shall have the same meanings given to them in the Employment Agreement. **Executive** and **Company** are collectively referred to as the "**<u>Parties</u>**" and singularly referred to as "**<u>Party</u>**."

**RECITALS**

**WHEREAS,** Executive currently is employed by the Company pursuant to the terms of the Employment Agreement; and

**WHEREAS,** the Parties desire to amend the Employment Agreement as described below, but to otherwise maintain in effect in full all other terms of the Employment Agreement.

**NOW, THEREFORE,** for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Parties agree as follows:

**<u>AMENDMENT</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.**  **<u>ADOPTION OF RECITALS</u>.** The Parties adopt the above recitals as being true and correct, and
they are incorporated herein as material parts of this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.**  **<u>SECTION 1</u>.** The Parties agree that Section 1 of the Employment Agreement shall be amended
and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.**  **<u>Term</u>.** The term of your employment hereunder shall commence on July 5th, 2025 (the "  **<u>Start Date</u>**") and shall end on the earliest of (i) July 5th, 2028, (ii) the date on which your employment is terminated by Company
or you pursuant to Paragraph 10 or (iii) the date of your death or the date of termination of your employment by reason of incapacity
(determined in accordance with Paragraph 8) (the "  **<u>Employment Term</u>** "). The period from the Start Date until July
5th, 2028, regardless of any earlier termination, shall hereinafter be referred to as the "  **<u>Original Employment Term</u>** ".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.**  **<u>SECTION 3</u>.** The Parties agree that Section 3 of the Employment Agreement shall be amended
and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.**  **<u>Cash Compensation</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)**  **<u>Base Salary</u>.** In consideration for the services performed by you pursuant to this Agreement,
the Company shall pay to you, and you will be entitled to receive and hereby agree to accept, an initial annual base salary of $800,000,
subject to increases in the discretion of the Board or its Compensation Committee ("  **<u>Base Salary</u>** "), payable in
accordance with the Company's normal payroll payment practices.

The Compensation Committee of the Board (the "**<u>Compensation Committee</u>**") may review your salary at least annually and may increase (but not decrease) the Base Salary. The result of any such review shall be reported to you by the Compensation Committee promptly after it occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)**  **<u>Annual Bonus Compensation</u>.** In addition to your Base Salary, during the Employment Term you
shall be eligible to earn an annual cash bonus for each whole or partial calendar year during the Employment Term, (the "  **<u>Bonus</u>** ")
of up to $160,000. Commencing July 5th, 2025, your target bonus for each calendar year during the Employment Term shall be twenty
percent (20%) of your annualized Base Salary, as in effect on July 5th of each applicable performance year; provided that the Compensation
Committee may review your target bonus at least annually and may increase (but not decrease, including as it may be increased from time
to time) the target bonus. The result of any such annual review shall be reported to you by the Compensation Committee promptly after
it occurs. Your target bonus, as it may be so increased from time to time, is referred to herein as the "  **<u>Target Bonus</u>** ".
As the actual amount payable to you as Bonus will be dependent upon the achievement of certain performance goals, your actual Bonus may
be less than, greater than or equal to the Target Bonus. Your actual Bonus shall be determined by the Board of Directors, with suggestions
from the Compensation Committee, at the end of each whole year during the Employment Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** Your Bonus for each whole calendar year during the Employment Term, beginning with 2022, will be based
upon achievement of performance goals established by the Compensation Committee, which may include individualized performance goals applicable
uniquely to you. The Company shall deliver to you a list of that year's performance goals by end of 1st quarter of each year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.**  **<u>SECTION 4</u>.** The Parties agree that Section 4 of the Employment Agreement shall be amended
and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.**  **<u>Stock Options</u>.** In addition to your Base Salary and Bonus, you shall be eligible, on an annual
basis and subject to approval by the Compensation Committee, to be considered for an additional equity-based award. Upon a Change in Control,
all previously granted but unvested stock options shall vest.

*[Signature page follows.]*

 

 

**IN WITNESS WHEREOF,** the Parties hereto have executed this Amendment on July 3, 2025 (the "**Effective Date**").

---

| | | | |
|:---|:---|:---|:---|
| **COMPANY:** | **COMPANY:** | **EXECUTIVE:** | **EXECUTIVE:** |
| **ANAVEX LIFE SCIENCES CORP.** | **ANAVEX LIFE SCIENCES CORP.** | **CHRISTOPHER MISSLING, PHD** | **CHRISTOPHER MISSLING, PHD** |
| By: | */s/ Sandra Boenisch* | By: | */s/ Christopher Missling* |
| Name: | Sandra Boenisch |  |  |
| Title: | Principal Financial Officer |  |  |

---

## Exhibit 10.2

**EXHIBIT 10.2**

**THIRD AMENDMENT TO**

**EMPLOYMENT AGREEMENT**

This Third Amendment to Employment Agreement (the "**<u>Amendment</u>**") is executed on this July 3, 2025 (the "**<u>Effective Date</u>**"), by and between Sandra Boenisch (hereinafter referred to as "**<u>Employee</u>**") and Anavex Life Sciences Corp. (together with its subsidiaries, the "**<u>Company</u>**"). Employee and Company are collectively referred to as the "**<u>Parties</u>**" and singularly referred to as "**<u>Party</u>**."

**RECITALS**

**WHEREAS**, Employee and Anavex Life Sciences Corp. executed a certain employment agreement dated September 17, 2015, with an effective date of October 1, 2015 (the "**<u>Original Agreement</u>**"); an Amended and Restated Employment Agreement dated October 4, 2017, with an effective date of October 1, 2017 (the "**<u>Amended Agreement</u>**"); Amendment No. 1 to the Amended Agreement dated February 4, 2020, with an effective date of March 1, 2020; and Amendment No. 2 to the Amended Agreement dated February 28, 2022, with an effective date of March 1, 2022 (collectively "**<u>Employment Agreement</u>**"); and

**WHEREAS**, the Parties desire to amend the Employment Agreement as described below, but to otherwise maintain in effect in full all other terms of the Employment Agreement; and

**NOW, THEREFORE**, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Parties agree as follows:

**<u>AMENDMENT</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **<u>ADOPTION OF RECITALS</u>**. The Parties adopt the above recitals as being true and correct, and they are incorporated herein as material parts of this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **<u>SECTION 1</u>**. The Parties agree that Section 1(a) of the Employment Agreement shall be amended and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)  **<u>Employment</u>** . This Agreement, which commenced on October 1, 2015, shall continue indefinitely
until terminated in accordance with the provisions of this Agreement. Employee's period of employment shall be referred to as the
"  **<u>Employment Period</u>** ." Employee's initial hire date of October 1, 2015, will be recognized for all statutory
purposes pursuant to the British Columbia *Employment Standards Act* (the "  **<u>ESA</u>** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **<u>SECTION 3</u>**. The Parties agree that Sections 3(a) and 3(d) of the Employment Agreement shall be amended and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)  **<u>Base Salary</u>** . During the Employment Period, Company shall pay to Employee an annual base
salary ("  **<u>Base Salary</u>**") of Two Hundred Seventy-Nine Thousand Eight Hundred Forty Canadian Dollars and Zero Cents
($279,840.00 CAD) payable by Company and payable in accordance with Company's payroll schedules throughout the term of such employment,
subject to the provisions of Section 5 hereof (governing Terminations), and subject to any applicable tax and payroll deductions; *provided, however*, that in Company's sole discretion, based on factors such as the market and Employee's job performance, salary
increases may be made. There, however, is never a guarantee of an increase in Base Salary. Salary decreases may be made through a written
modification of this Agreement executed and signed by the Parties.

**\* \* \***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Fringe benefits</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *<u>Business Expenses</u>.* During the Employment Period, Company shall pay for directly or reimburse Employee for all reasonable, customary and necessary business-related expenses incurred by Employee in connection with the duties of Employee hereunder, upon submission by Employee to Company of such written evidence of such expense as Company may require. Any disputes as to the eligibility of an expense for reimbursement shall be resolved in the sole discretion of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *<u>Paid Time Off (Vacation)</u>*. During the Employment Period, Company agrees that Employee shall earn three (3) weeks (15 business days) of Paid Time Off ("**<u>PTO</u>**") per calendar year to be used as vacation and includes Employee's statutory vacation entitlement under the ESA. Vacation time must be taken at such times as is mutually convenient to Employee and Company, and subject to Company's operational and business requirements. Vacation days must be taken and cannot be banked, deferred, carried over, or paid out except as strictly required by the ESA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Employee shall further be entitled to paid statutory holidays and authorized leaves (paid and unpaid) in accordance with the ESA and the policies of Company then in effect for similarly situated employees, including but not limited to an additional week (5 business days) of paid time off.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) *<u>Vacation Pay</u>*. Employee will be paid vacation pay in the amount of six (6) percent of all wages earned in the previous year. Vacation pay will be paid through installments on Company's regular payroll cycle.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) *<u>Long-Term Compensation</u>.* If Anavex Life Sciences Corp. ("**<u>Parent</u>**") is subject to a Change in Control (as defined below), then 100% of any remaining unvested shares subject to an option granted to Employee will become immediately vested and exercisable except to the extent such options are assumed, converted or substituted by the surviving or acquiring entity (as determined in accordance with the Anavex Life Sciences Corp. 2022 Omnibus Incentive Plan (the "**<u>2022 Plan</u>**")). Such options and any shares received upon exercise of the options shall otherwise remain subject to the terms and conditions of the 2022 Plan and the applicable award agreement entered into thereunder. "**<u>Change in Control</u>**" means the consummation of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The acquisition, other than from Parent, by any individual, entity, or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934 (the "**<u>Exchange Act</u>**")), other than Parent or any subsidiary, affiliate (within the meaning of Rule 144 promulgated under the Securities Act of 1933), or employee benefit plan of Parent, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% of the combined voting power of the then outstanding voting securities of Parent entitled to vote generally in the election of directors (the "**<u>Voting Securities</u>**"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A reorganization, merger, consolidation, or recapitalization of Parent (a "**<u>Business Combination</u>**"), other than a Business Combination in which more than 50% of the combined voting power of the outstanding voting securities of the surviving or resulting entity immediately following the Business Combination is held by individuals, entities, or groups, within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (collectively, "**<u>Persons</u>**") who, immediately prior to the Business Combination, were the holders of the Voting Securities; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A complete liquidation or dissolution of Parent, or a sale of all or substantially all of the assets of Parent; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) During any period of 24 consecutive months, the Incumbent Directors cease to constitute a majority of the Board of Directors of Parent (the "**<u>Parent Board</u>**"). "**<u>Incumbent Directors</u>**" means individuals who were members of the Parent Board at the beginning of such period or individuals whose election or nomination for election to the Board by the stockholders of Parent was approved by a vote of at least a majority of the then Incumbent Directors (but excluding any individual whose initial election or nomination is in connection with an actual or threatened proxy contest relating to the election of directors).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Nothing paid to Employee under any of Company Plans or fringe benefit arrangements shall be deemed to be in lieu of Base Salary payable to Employee hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) *<u>Recovery of Incentive Compensation</u>.* Notwithstanding anything herein to the contrary, Employee agrees that incentive compensation payable to Employee under this Agreement or otherwise shall be subject to any clawback policy adopted or implemented by Company in respect to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and such regulations and listing standards as are promulgated thereunder from time to time, or in respect to any other applicable law, regulation, listing standard, or Company policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) *<u>Discretionary Bonus</u>*. During the Employment Period, Employee may, at the sole and absolute discretion of the Board of Directors (with suggestions from the Compensation Committee), be eligible to receive an annual discretionary bonus of up to twenty percent (20%) of Employee's Base Salary, subject to any applicable tax and payroll deductions and subject to the provisions of Section 5 hereof (governing Terminations). Any such bonus is not guaranteed, and Employee's eligibility will be determined based on a variety of factors, including, but not limited to, the Company's overall performance during any given year, the Employee's individual job performance during any given year, and/or other relevant business considerations as determined by the Company in its sole discretion. The amount, timing, and conditions of any bonus payment shall be determined by the Company and may be modified or withheld at any time. Receipt of a bonus in any year does not guarantee or imply entitlement to a bonus in any subsequent year. To be eligible to receive any bonus, Employee must be actively employed by the Company and in good standing on the date the bonus is paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **<u>SECTION 4</u>**. The Parties agree that Section 4 of the Employment Agreement shall be amended and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.  **<u>Termination</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Termination for Cause</u>.** Company may terminate this Agreement and Employee's employment for cause by providing a Notice of Termination to Employee with an immediate Date of Termination in accordance with Section 4(d)(i) below. For purposes of this Agreement "cause" refers to cause as defined under the common law, including but not limited to willful misconduct regarding non-trivial matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **<u>Termination by Company without Cause</u>**. Company may terminate this Agreement and Employee's employment without cause by providing a Notice of Termination to Employee that includes a Date of Termination (which may be immediate). In such event, Company shall provide and Employee shall be entitled to receive the notice, payments, benefits, and/or entitlements set out in Section 4(d)(ii).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Termination by Employee</u>***.* Employee may terminate this Agreement and Employee's employment by providing a Notice of Termination to Company with a Date of Termination calculated as thirty (30) days from the date the Notice of Termination is provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Obligations Upon Termination</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *<u>Termination for Cause</u>*. In the event that Employee's employment is terminated pursuant to Subsection 4(a), then Company shall pay to Employee an amount equal to the Base Salary, vacation pay, and any other accrued unpaid compensation fully earned by and payable to Employee up to the Date of Termination. Employee shall have no entitlement to any further notice of termination, payment in lieu of notice of termination, severance or termination pay, benefits, or any damages whatsoever, except as may be required by the ESA. Participation in all equity or profit participation plans (if any) terminates immediately upon the Date of Termination and Employee shall not be entitled to any additional bonus or incentive award, pro rata or otherwise, except as required by the ESA. Any outstanding stock option or other stock awards held by Employee as of the Date of Termination shall be subject to the terms of the applicable plan documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *<u>Termination by Company without Cause</u>*. In the event that Employee's employment is terminated pursuant to Subsection 4(b), then the following shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Company shall pay to Employee an amount equal to the Base Salary, vacation pay, and any other accrued unpaid compensation fully earned by and payable to Employee up to the Date of Termination; and Company shall provide to Employee the greatest of: (a) the minimum notice of termination, or payment in lieu of notice of termination, and other minimum entitlements required by the ESA; or (b) 30 days' notice of termination, or Base Salary in lieu thereof, **<u>and</u>** twelve (12) months of Base Salary as severance. Provided, however, that this Section 4(d)(ii) will be subject to any requirement under the ESA to pay to Employee the portion of such payments that constitutes Employee's minimum entitlements in a lump sum within the prescribed time period under the ESA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Further, any outstanding stock option or other stock awards vesting in the contract year of Termination held by Employee as of the Date of Termination shall immediately vest and become exercisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Payments to Employee, assuming such payments exceed Employee's minimum entitlements pursuant to ESA, will be dependent upon Employee signing a full and final release, acknowledging that the payment is inclusive of, and satisfies all of Employee's entitlements pursuant to applicable legislation, contract, common law and equity, and will release Company (including all current and former parent, subsidiary, related, and affiliated corporations and divisions, and all of its and their current and former officers, directors, agents, employees, successors, and assigns) from any and all actions, causes of actions, proceedings, claims, demands, or complaints, including, without limitation, any claims in respect of Employee's hiring by, employment with, and termination of employment with Company, and any human rights claims. However, and in any event, Employee shall not be provided with less than Employee's minimum entitlements pursuant to the ESA. Accordingly, if Employee refuses to sign a full and final release, Employee will be entitled to only such minimum notice of termination, or payment in lieu of notice of termination, and other minimum entitlements required by the ESA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) *<u>Termination by Employee</u>*. In the event that Employee's employment is terminated pursuant to Subsection 4(c), then Company shall pay to Employee an amount equal to the Base Salary, vacation pay, and any other accrued unpaid compensation fully earned by and payable to Employee up to the Date of Termination, and Employee shall have no entitlement to any further notice of termination, payment in lieu of notice of termination, or any damages whatsoever. Company may opt to accept Employee's resignation and have Employee cease providing services to Company prior to the expiration of the thirty (30) day notice-period. If Company waives the thirty (30) day notice-period, the Date of Termination shall be deemed to occur on the final date Employee actually provided services to Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) *<u>Employee's Duties During Notice and Return Company Property</u>.* Prior to the Termination Date, Employee shall (i) assist with the transition of Employee's duties to ensure that all Company financial commitments are properly addressed; and (ii) surrender to Company or as Company may direct, all property, books, and records of Company then in the custody, possession, or control of Employee, and as further described in Section 7 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **<u>Notice of Termination</u>**. A "**<u>Notice of Termination</u>"** to effectuate a termination under Section 4 shall be made in accordance with the Notice provision defined in Section 6. For purposes of this Agreement, a Notice of Termination shall mean a notice, in writing, which shall indicate the specific termination provision of this Agreement relied upon as the basis for the Termination and the Date of Termination. The Date of Termination shall not be earlier than the date such Notice of Termination is delivered (as defined above); *provided however*, that Company, at its option, may elect to have Employee not report to work after the date of the written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **<u>Date of Termination</u>**. "**<u>Date of Termination</u>**" means the date on which this Agreement shall terminate in accordance with the provisions of this Section 4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **<u>SECTION 15</u>**. The Parties agree that Section 15 of the Employment Agreement shall be amended and restated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **<u>Governing Law</u>**. This Agreement shall be governed and construed in accordance with the laws of the Province of British Columbia without regard to conflicts of law. The Parties expressly agree to the exclusive jurisdiction of the Courts of the Province of British Columbia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **<u>FULL FORCE AND EFFECT</u>**. Except as expressly amended herein, all other terms and provisions of the Employment Agreement are hereby incorporated by reference herein, are in full force and effect and are hereby ratified and confirmed in all respects. The Parties mutually acknowledge and agree that any and all other prior agreements, offer letters or contracts between Employee and Company are declared null and void with no legal effect as of the date this Amendment is executed by the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **<u>FURTHER AMENDMENTS</u>**. The Employment Agreement shall further be amended wherever appropriate to reflect the changes indicated above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>RIGHT TO REVIEW AND TO SEEK COUNSEL</u>.** Employee acknowledges that K&L Gates LLP represents only Company in this Amendment and does not represent the interests of Employee and has not advised Employee in connection with this Amendment. Employee further acknowledges that Employee has had the opportunity to seek independent counsel and tax advice in connection with the execution of this Amendment, and Employee represents and warrants to Company (a) that Employee has sought such independent counsel and advice as Employee has deemed appropriate in connection with the execution hereof and the transactions contemplated hereby, and (b) that Employee has not relied on any representation of Company as to tax matters, or as to the consequences of the execution hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **<u>GOVERNING LAW</u>**<u>.</u> This Amendment shall be governed and construed in accordance with the laws of the Province of British Columbia without regard to conflicts of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **<u>HEADINGS AND CAPTIONS</u>**. The titles and captions of paragraphs and subparagraphs contained in this Amendment are provided for convenience of reference only, and shall not be considered terms or conditions of this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **<u>VALIDITY</u>**. The invalidity or unenforceability of any provision of this Amendment shall not affect the validity or enforceability of any other provision of this Amendment, which shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **<u>COUNTERPARTS</u>**. This Amendment may be executed in one or more counterparts, by DocusSign or electronically, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. For purposes of legal enforcement of this Amendment (i.e., by a court of law or equity or in arbitration), a copy or scanned version of this Amendment shall constitute an original.

[*Signature page follows*.]

**IN WITNESS WHEREOF**, the Parties hereto have executed this Amendment on July 3, 2025, with an effective date of July 3, 2025.

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| | | |
|:---|:---|:---|
| **ANAVEX LIFE SCIENCES CORP.** | **ANAVEX LIFE SCIENCES CORP.** | **SANDRA BOENISCH** |
| By: | /s/Christopher Missling | /s/Sandra Boenisch |
| Name: | Christopher U. Missling, Ph.D. |  |
| Title: | CEO |  |

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