Document:

Filed by sedaredgar.com - Anavex Life Sciences Corp. - Exhibit 10.3

Exhibit 10.3 

CONSULTING AGREEMENT

                         THIS
CONSULTING AGREEMENT (the “Agreement”) is made as of the 13th day of
January, 2009 (the “Effective Date”), and is by and between Anavex Life Sciences
Corp. A Nevada State Corporation with an office at 27 Marathonos Ave. Pallini,
Greece (hereinafter “Company”), and Dr. Mark A. Smith, with an address at
Chagrin Falls, Ohio (Hereinafter “Consultant”). 

W I T N E S S E T H:

                         WHEREAS
the Consultant has developed considerable expertise in the pathology of
Alzheimer’s as well as other neurological diseases. 

                         WHEREAS
the Company wishes to engage the services of the Consultant to assist the
Company in the advancement of drug candidates with the potential to provide
disease-modifying treatments for certain neurological diseases. 

                         AND
WHEREAS Consultant wishes to perform such services among others for and on
behalf of the Company and the Company desires to obtain and apply the expertise
of the Consultant to the Business of the Company.

                         NOW
THEREFORE THIS AGREEMENT WITNESSES that for good and valuable consideration
(the receipt of which is hereby acknowledged by each of the parties hereto) the
parties make the arrangements and acknowledgements hereinafter set forth: 

1.      Consulting
Services - The Company hereby retains the services of the Consultant and
the Consultant hereby agrees to provide the consulting services (the “Services”)
to the Company described in this Agreement, by providing such Services to
benefit the Company and its determination and implementation of the Company's
plans for its Business. 

2.      Term - This
Agreement is effective as of the Effective Date and shall remain in force, for a
period of 1 (one) year.

3.      Termination

	3.1 	
      Either party may at any time terminate this Agreement by
      providing the other party with at least thirty (30) days written
      notice.

	 	 
	3.2 	
      Upon termination of this Agreement, Consultant shall
      return to the Company all material that is the property of the
    Company.

- 2 - 

	3.3 	
      Upon termination the Consultant shall have 30 days to
      exercise any options that have already vested. After 30 days any
      unexercised options shall become void and of no further effect. All
      non-vested options at the time of termination or death shall become
      immediately void and of no further effect.

4.      Compensation -
In full consideration of the Consultant's Services hereunder, the Company shall
compensate the Consultant a fee as follows: 

	 	a. 	
      Pay to the Consultant a fee of US$2,000.00 per
    month.

	 	b. 	
      Pay to the Consultant a fee of US$250.00 per speaking
      engagement made on behalf of the Company.

	 	c. 	
      Issue to the Consultant 50,000 Share purchase options
      subject to Schedule 1 as attached.

                         IN
WITNESS WHEREOF, each of the parties hereto has executed as of the date
first herein above written. 

 

COMPANY: 

Anavex Life Sciences Corp. 

By: “Harvey Lalach” 

        Harvey Lalach

        President 

CONSULTANT: 

“Dr. Mark Smith” 

Dr. Mark Smith 

SCHEDULE 1 

STOCK OPTION AGREEMENT 

          This
Stock Option Agreement is made as of January 13, 2009 by and between Anavex Life
Sciences Corp. (the “Corporation”), and Dr. Mark Smith (the “Optionee”).

RECITALS 

          A.
T     he Corporation and the Optionee
have entered into a Consulting Agreement dated as of January 13, 2009 (the
“Consulting Agreement”) that provides for the grant of stock options to the
Optionee to purchase shares of the Corporation’s common stock (the “Shares”).
The stock options granted herein are being granted pursuant to the Consulting
Agreement.

          NOW
THEREFORE, specifically incorporating these recitals herein, it is agreed as
follows: AGREEMENT 

GRANT OF OPTIONS 

NUMBER OF SHARES. Subject to the terms and conditions of
this Agreement and the Consulting Agreement, the Corporation grants to Optionee,
Options to purchase from the Corporation fifty thousand (50,000) shares (the
“Option Shares”). 

          EXERCISE
PRICE. Each Option Share is exercisable at a price of US $2.75 per share (the
“Option Price”). 

          TERM.
The Expiration Date for all Options shall be January 14, 2014. 

          VESTING.
The Options granted herein vest in accordance with the terms set out below:

25,000 upon execution of the
Agreement. 
12,500 upon the one year anniversary of the execution of
this Agreement. 
12,500 upon the two year anniversary of the execution of
this Agreement. 

          CONDITIONS
OF OPTION. The Options may be exercised immediately upon vesting, subject to the
terms and conditions as set forth in this Agreement and the Consulting
Agreement. 

EXERCISE OF OPTION 

          DATE
EXERCISABLE. The Options shall become exercisable by Optionee in accordance with
the vesting terms as above. 

          MANNER
OF EXERCISE OF OPTIONS AND PAYMENT FOR COMMON STOCK. The Options may be
exercised by the Optionee, in whole or in part, by giving written notice to the
Secretary of the Corporation, setting forth the number of Shares with respect to
which Options are being exercised. The purchase price of the Option Shares upon
exercise of the Options by the Optionee shall be paid in full in cash.

          STOCK
CERTIFICATES. Promptly after any exercise in whole or in part of the Options by
Optionee, the Corporation shall deliver to Optionee a certificate or
certificates for the number of Shares with respect to which the Options were so
exercised, registered in Optionee name. 

NONTRANSFERABILITY 

          RESTRICTION.
The Options are not transferable by Optionee. 

NO RIGHTS AS SHAREHOLDER PRIOR TO EXERCISE

          Optionee
shall not be deemed for any purpose to be a shareholder of Corporation with
respect to any shares subject to the Options under this Agreement to which the
Options shall not have been exercised. 

ADJUSTMENTS 

          NO
EFFECT ON CHANGES IN CORPORATION’S CAPITAL STRUCTURE. The existence of the
Options shall not affect in any way the right or power of the Corporation or its
shareholders to make or authorize any adjustments, recapitalization,
reorganization, or other changes in the Corporation’s capital structure or its
business, or any merger or consolidation of the Corporation, or any issue of
bonds, debentures, preferred or preference stocks ahead of or affecting the
Option Shares, or the dissolution or liquidation of the Corporation, or any sale
or transfer of all or any part of its assets or business, or any other corporate
act or proceeding, whether of a similar character or otherwise. 

ADJUSTMENT TO OPTION SHARES. 

The Option Shares are subject to adjustment upon
recapitalization, reclassification, consolidation, merger, reorganization, stock
dividend, reverse or forward stock split and the like. If the Corporation shall
be reorganized, consolidated or merged with another corporation, Optionee shall
be entitled to receive upon the exercise of the Option the same number and kind
of shares of stock or the same amount of property, cash or securities as
Optionee would have been entitled to receive upon the happening of any such
corporate event as if Optionee had been, immediately prior to such event, the
holder of the number of Shares covered by the Option. 

 

IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date first above written. 

Anavex Life Sciences Corp. 

“Harvey Lalach” 

Name: Harvey Lalach 
Title: President 

The undersigned Optionee hereby acknowledges receipt of this
Stock Option Agreement, accepts the Options granted there under, and agrees to
the terms and conditions thereof and the related Consultant Agreement. 

OPTIONEE 

“Dr. Mark Smith” 

Dr. Mark Smith 

Anavex Life Sciences Corp. 

NOTICE OF EXERCISE OF STOCK OPTION 

The undersigned hereby exercises the Stock Options granted by
Anavex Life Sciences Corp. and seeks to purchase ____________________ shares of
Common Stock of the Corporation pursuant to said Options. The undersigned
understands that this exercise is subject to all the terms and provisions of the
Stock Option Agreement dated as of January 6, 2008 and of the Consulting
Agreement referred to therein. 

Enclosed is a check in the sum of US $_____________________ in
payment for such shares. 

_________________________________
Signature of Optionee 

 

Date: _____________________________

 

 

 

By:_______________________________
     
Dr. Mark A. SmithFiled by sedaredgar.com - Anavex Life Sciences Corp. - Exhibit 10.4

Exhibit 10.4 

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT
SUBSCRIPTION RELATES HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND,
UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE
UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH
THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S.
PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT. 

PRIVATE PLACEMENT SUBSCRIPTION 
FOR NON U.S. SUBSCRIBERS

ANAVEX LIFE SCIENCES CORP. 

INSTRUCTIONS TO SUBSCRIBER: 

	1. 	
      COMPLETE the information on page 10 of this
      Subscription.

	 	 
	2. 	
      WIRE the Subscription Proceeds to Anavex Life
      Sciences Corp or deliver a $US bank draft.

	 	 
	3. 	
      FAX a copy of page 10 of this Subscription, and
      all pages of the applicable Schedules of this Subscription to Harvey
      Lalach, President Anavex Life Sciences Corp., at (250) 764-9701.

	 	 
	4. 	
      COURIER the originally executed copy of the entire
      Subscription, together with all duly signed Schedules, to Anavex Life
      Sciences Corp. to

Anavex Life Sciences Corp. 
101-4837 Canyon Ridge Crescent

Kelowna, BC Canada 
V1W 4A1 

If you have any questions please
contact Harvey Lalach, President of the Company, at: (250) 864-2740. 

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT
SUBSCRIPTION RELATES HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY U.S. STATE SECURITIES LAWS, AND,
UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE
UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH
THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S.
PERSON" ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT. 

PRIVATE PLACEMENT SUBSCRIPTION 
(Non U.S. Subscribers
Only) 

	TO: 	ANAVEX LIFE SCIENCES CORP.
      (the "Company") 
	 	14, Rue Kleberg,
      Geneva Switzerland 

Purchase of Shares 

1.                     
 Subscription 

1.1                    
The undersigned (the "Subscriber") hereby irrevocably subscribes for and agrees
to purchase the number of units (the “Units”) of the Company as set out on page
10 of this Subscription at a price of US$2.25 per Unit (such subscription and
agreement to purchase being the "Subscription"), for the total subscription
price as set out on page 10 of this Subscription (the "Subscription Proceeds"),
which Subscription Proceeds are tendered herewith, on the basis of the
representations and warranties and subject to the terms and conditions set forth
herein. The total offering is intended to be $3,500,000 but may be more or less
in the discretion of the Company.

1.2                    
Each Unit will consist of one common share in the capital of the Company (a
“Share”) and one non-transferable share purchase warrant (a “Share Purchase
Warrant”) subject to adjustment. One Share Purchase Warrant shall entitle the
holder thereof to purchase one common share in the capital of the Company (a
“Warrant Share”), as presently constituted, at a price of US$4.00 per Warrant
Share for a period of one (1) year commencing from the Closing Date (as defined
hereafter). The Shares, Share Purchase Warrants and the Warrant Shares are
referred to as the “Securities”. 

1.3          
The Company hereby agrees to sell, on the basis of the representations and
warranties and subject to the terms and conditions set forth herein, to the
Subscriber the Shares. Subject to the terms hereof, the Subscription will be
effective upon its acceptance by the Company. 

1.4          
Unless otherwise provided, all dollar amounts referred to in this Subscription
are in lawful money of the United States of America. 

- 2 - 

2.                     
 Payment 

2.1          
The Subscription Proceeds must accompany this Subscription and shall be wired
directly to the Company's account in accordance with the wire instructions set
out on page ii of this Subscription. Where the Subscription Proceeds are paid to
the Company, the Company may treat the Subscription Proceeds as a non-interest
bearing loan and may use the Subscription Proceeds prior to this subscription
being accepted by the Company. 

2.2          
The Subscriber shall complete, sign and return to the Company as soon as
possible, on request by the Company, any documents, questionnaires, notices and
undertakings as may be required by regulatory authorities, the OTC Bulletin
Board, stock exchanges and applicable law. 

2.3          
The Subscriber acknowledges that the Company may pay finders’ fees to finders in
connection with this placement on terms negotiated and approved by the
Company.

3.                      
Closing 

3.1                    
Closing of the purchase and sale of the Shares shall occur on or before March
31, 2009, or on such other date as may be determined by the Company in its sole
discretion (the "Closing Date"). The Subscriber acknowledges that Shares may be
issued to other subscribers under this offering (the "Offering") before or after
the Closing Date (the last sale of Shares under this Offering being referred to
as the "Final Closing Date"). 

4.                     
 Acknowledgements of Subscriber 

4.1                    
The Subscriber acknowledges and agrees that: 

	 	(a) 	
      the Securities have not been registered under the
      Securities Act of 1933, as amended (the "1933 Act"), or under any state
      securities or "blue sky" laws of any state of the United States, and are
      being offered only in a transaction not involving any public offering
      within the meaning of the 1933 Act, and, unless so registered, may not be
      offered or sold in the United States or to U.S. Persons (as defined
      herein), except pursuant to an effective registration statement under the
      1933 Act, or pursuant to an exemption from, or in a transaction not
      subject to, the registration requirements of the 1933 Act, and in each
      case only in accordance with applicable state securities laws;

	 	 	 
	 	(b) 	
      the Company will refuse to register any transfer of the
      Shares not made in accordance with the provisions of Regulation S,
      pursuant to an effective registration statement under the 1933 Act or
      pursuant to an available exemption from, or in a transaction not subject
      to, the registration requirements of the 1933 Act;

	 	 	 
	 	(c) 	
      the decision to execute this Subscription and purchase
      the Units agreed to be purchased hereunder has not been based upon any
      oral or written representation as to fact or otherwise made by or on
      behalf of the Company and such decision is based solely upon a review of
      publicly available information regarding the Company available on the
      website of the United States Securities and Exchange Commission (the
      "SEC") available at www.sec.gov (the "Company
  Information");

- 3 - 

	 	(d) 	
      the Subscriber and the Subscriber's advisor(s) have had a
      reasonable opportunity to review the Company Information and to ask
      questions of and receive answers from the Company regarding the Offering,
      and to obtain additional information, to the extent possessed or
      obtainable without unreasonable effort or expense, necessary to verify the
      accuracy of the information contained in the Company Information, or any
      other document provided to the Subscriber;

	 	 	 
	 	(e) 	
      the books and records of the Company were available upon
      reasonable notice for inspection, subject to certain confidentiality
      restrictions, by the Subscriber during reasonable business hours at its
      principal place of business and that all documents, records and books
      pertaining to this Offering have been made available for inspection by the
      Subscriber, the Subscriber's attorney and/or advisor(s);

	 	 	 
	 	(f) 	
      by execution hereof the Subscriber has waived the need
      for the Company to communicate its acceptance of the purchase of the Units
      pursuant to this Subscription;

	 	 	 
	 	(g) 	
      the Company is entitled to rely on the representations
      and warranties and the statements and answers of the Subscriber contained
      in this Subscription and the Subscriber will hold harmless the Company
      from any loss or damage it may suffer as a result of the Subscriber's
      failure to correctly complete this Subscription;

	 	 	 
	 	(h) 	
      the Subscriber will indemnify and hold harmless the
      Company and, where applicable, its respective directors, officers,
      employees, agents, advisors and shareholders from and against any and all
      loss, liability, claim, damage and expense whatsoever (including, but not
      limited to, any and all fees, costs and expenses whatsoever reasonably
      incurred in investigating, preparing or defending against any claim,
      lawsuit, administrative proceeding or investigation whether commenced or
      threatened) arising out of or based upon any acknowledgment,
      representation or warranty of the Subscriber contained herein or in any
      other document furnished by the Subscriber to the Company in connection
      herewith, being untrue in any material respect or any breach or failure by
      the Subscriber to comply with any covenant or agreement made by the
      Subscriber to the Company in connection therewith;

	 	 	 
	 	(i) 	
      the issuance and sale of the Units to the Subscriber will
      not be completed if it would be unlawful or if, in the discretion of the
      Company acting reasonably, it is not in the best interests of the
      Company;

	 	 	 
	 	(j) 	
      the Subscriber has not acquired the Units as a result of,
      and will not itself engage in, any "directed selling efforts" (as defined
      in Regulation S under the 1933 Act) in the United States in respect of any
      of the Shares which would include any activities undertaken for the
      purpose of, or that could reasonably be expected to have the effect of,
      conditioning the market in the United States for the resale of any of the
      Shares; provided, however, that the Subscriber may sell or otherwise
      dispose of any of the Shares pursuant to registration of any of the Shares
      pursuant to the 1933 Act and any applicable state securities laws or under
      an exemption from such registration requirements and as otherwise provided
      herein;

	 	 	 
	 	(k) 	
      the Subscriber is outside the United States when
      receiving and executing this Subscription and is acquiring the Units as
      principal for its own account, for investment purposes only, and not with
      a view to, or for, resale, distribution or fractionalization thereof, in
      whole or in part, and no other person has a direct or indirect beneficial
      interest in such Shares;

	 	 	 
	 	(l) 	
      none of the Shares may be offered or sold to a U.S.
      Person or for the account or benefit of a U.S. Person (other than a
      distributor) prior to the end of the expiration of a period of one year
      after the date of original issuance of the
Shares;

- 4 - 

	 	(m) 	
      the statutory and regulatory basis for the exemption
      claimed for the offer and sale of the Shares, although in technical
      compliance with Regulation S, would not be available if the offering is
      part of a plan or scheme to evade the registration provisions of the 1933
      Act;

	 	 	 
	 	(n) 	
      the Subscriber has been advised to consult its own legal,
      tax and other advisors with respect to the merits and risks of an
      investment in the Units and with respect to applicable resale restrictions
      and it is solely responsible (and the Company is in any way responsible)
      for compliance with applicable resale restrictions;

	 	 	 
	 	(o) 	
      the Shares are not listed on any stock exchange or
      automated dealer quotation system and no representation has been made to
      the Subscriber that any of the Shares will become listed on any stock
      exchange or automated dealer quotation system, except that currently
      certain market makers make market in the shares of the Company's common
      stock on the OTC Bulletin Board;

	 	 	 
	 	(p) 	
      neither the SEC nor any other securities commission or
      similar regulatory authority has reviewed or passed on the merits of the
      Shares;

	 	 	 
	 	(q) 	
      no documents in connection with this Offering have been
      reviewed by the SEC or any state securities administrators;

	 	 	 
	 	(r) 	
      there is no government or other insurance covering any of
      the Shares; and

	 	 	 
	 	(s) 	
      this Subscription is not enforceable by the Subscriber
      unless it has been accepted by the Company, and the Subscriber
      acknowledges and agrees that the Company reserves the right to reject any
      Subscription for any reason.

5.                      
Representations, Warranties and Covenants of the
Subscriber 

5.1                    
The Subscriber hereby represents and warrants to and covenants with the Company
(which representations, warranties and covenants shall survive the Closing Date)
that: 

	 	(a) 	
      the Subscriber is not a U.S. Person;

	 	 	 	 
	 	(b) 	
      the Subscriber is not acquiring the Units for the account
      or benefit of, directly or indirectly, any U.S. Person;

	 	 	 	 
	 	(c) 	
      the Subscriber is resident in the jurisdiction set out on
      page 10 of this Subscription;

	 	 	 	 
	 	(d) 	
      the issuance of the Units to the Subscriber as
      contemplated by the delivery of this Agreement, the acceptance of it by
      the Company and the issuance of the Units to the Subscriber complies with
      all applicable laws of the Subscriber's jurisdiction of residence or
      domicile and will not cause the Company to become subject to or comply
      with any disclosure, prospectus or reporting requirements under any such
      applicable laws;

	 	 	 	 
	 	(e) 	
      the Subscriber:

	 	 	 	 
	 		(i) 	
      is knowledgeable of, or has been independently advised as
      to, the applicable securities laws of the securities regulators having
      application in the jurisdiction in which the Subscriber is resident (the
      “International Jurisdiction”) which would apply to the acquisition of the
      Units,

- 5 - 

	 	(ii) 	
      is purchasing the Units pursuant to exemptions from
      prospectus or equivalent requirements under applicable securities laws or,
      if such is not applicable, the Subscriber is permitted to purchase the
      Shares under the applicable securities laws of the securities regulators
      in the International Jurisdiction without the need to rely on any
      exemptions,

	 	 	 	 
	 	(iii) 	
      acknowledges that the applicable securities laws of the
      authorities in the International Jurisdiction do not require the Company
      to make any filings or seek any approvals of any kind whatsoever from any
      securities regulator of any kind whatsoever in the International
      Jurisdiction in connection with the issue and sale or resale of the
      Shares, and

	 	 	 	 
	 	(iv) 	
      represents and warrants that the acquisition of the Units
      by the Subscriber does not trigger:

	 	 	 	 
	 		A. 	
      any obligation to prepare and file a prospectus or
      similar document, or any other report with respect to such purchase in the
      International Jurisdiction, or

	 	 	 	 
	 		B. 	
      any continuous disclosure reporting obligation of the
      Company in the International Jurisdiction, and

the Subscriber will, if requested by
the Company, deliver to the Company a certificate or opinion of local counsel
from the International Jurisdiction which will confirm the matters referred to
in subparagraphs (ii), (iii) and (iv) above to the satisfaction of the Company,
acting reasonably; 

	 	(f) 	
      the Subscriber is acquiring the Units as principal for
      investment only and not with a view to, or for, resale, distribution or
      fractionalization thereof, in whole or in part, and, in particular, it has
      no intention to distribute either directly or indirectly any of the Shares
      in the United States or to U.S. Persons;

	 	 	 
	 	(g) 	
      the Subscriber is outside the United States when
      receiving and executing this Subscription;

	 	 	 
	 	(h) 	
      the Subscriber has received and carefully read this
      Subscription;

	 	 	 
	 	(i) 	
      the Subscriber understands and agrees not to engage in
      any hedging transactions involving any of the Shares unless such
      transactions are in compliance with the provisions of the 1933 Act and in
      each case only in accordance with applicable state securities
  laws;

	 	 	 
	 	(j) 	
      the Subscriber acknowledges that it has not acquired the
      Units as a result of, and will not itself engage in, any "directed selling
      efforts" (as defined in Regulation S under the 1933 Act) in the United
      States in respect of any of the Shares which would include any activities
      undertaken for the purpose of, or that could reasonably be expected to
      have the effect of, conditioning the market in the United States for the
      resale of any of the Shares; provided, however, that the Subscriber may
      sell or otherwise dispose of any of the Shares pursuant to registration of
      any of the Shares pursuant to the 1933 Act and any applicable state
      securities laws or under an exemption from such registration requirements
      and as otherwise provided herein;

- 6 - 

	 	(k) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Subscription and to take all actions required
      pursuant hereto and, if the Subscriber is a corporation, it is duly
      incorporated and validly subsisting under the laws of its jurisdiction of
      incorporation and all necessary approvals by its directors, shareholders
      and others have been obtained to authorize execution and performance of
      this Subscription on behalf of the Subscriber;

	 	 	 
	 	(l) 	
      the Subscriber (i) has adequate net worth and means of
      providing for its current financial needs and possible personal
      contingencies, (ii) has no need for liquidity in this investment, and
      (iii) is able to bear the economic risks of an investment in the Shares
      for an indefinite period of time, and can afford the complete loss of such
      investment;

	 	 	 
	 	(m) 	
      the Subscriber understands and agrees that the Company
      and others will rely upon the truth and accuracy of the acknowledgements,
      representations, warranties, covenants and agreements contained in this
      Subscription and agrees that if any of such acknowledgements,
      representations and agreements are no longer accurate or have been
      breached, the Subscriber shall promptly notify the Company;

	 	 	 
	 	(n) 	
      the Subscriber is aware that an investment in the Company
      is speculative and involves certain risks, including the possible loss of
      the investment;

	 	 	 
	 	(o) 	
      the entering into of this Subscription and the
      transactions contemplated hereby do not result in the violation of any of
      the terms and provisions of any law applicable to, or, if applicable, the
      constating documents of, the Subscriber, or of any agreement, written or
      oral, to which the Subscriber may be a party or by which the Subscriber is
      or may be bound;

	 	 	 
	 	(p) 	
      the Subscriber has duly executed and delivered this
      Subscription and it constitutes a valid and binding agreement of the
      Subscriber enforceable against the Subscriber;

	 	 	 
	 	(q) 	
      the Subscriber understands and agrees that the Company
      and others will rely upon the truth and accuracy of the acknowledgements,
      representations and agreements contained in this Subscription, and agrees
      that if any of such acknowledgements, representations and agreements are
      no longer accurate or have been breached, the Subscriber shall promptly
      notify the Company;

	 	 	 
	 	(r) 	
      all information contained in this Subscription is
      complete and accurate and may be relied upon by the Company, and the
      Subscriber will notify the Company immediately of any material change in
      any such information occurring prior to the Closing Date;

	 	 	 
	 	(s) 	
      the Subscriber is purchasing the Units for its own
      account for investment purposes only and not for the account of any other
      person and not for distribution, assignment or resale to others, and no
      other person has a direct or indirect beneficial interest is such Shares,
      and the Subscriber has not subdivided his interest in the Shares with any
      other person;

	 	 	 
	 	(t) 	
      the Subscriber is not an underwriter of, or dealer in,
      the shares of the Company's common stock, nor is the Subscriber
      participating, pursuant to a contractual agreement or otherwise, in the
      distribution of the Shares;

	 	 	 
	 	(u) 	
      the Subscriber has made an independent examination and
      investigation of an investment in the Shares and the Company and has
      depended on the advice of its legal and financial advisors and agrees that
      the Company will not be responsible in anyway whatsoever for the
      Subscriber's decision to invest in the Shares and the
  Company;

- 7 - 

	 	(v) 	
      if the Subscriber is acquiring the Units as a fiduciary
      or agent for one or more investor accounts, the Subscriber has sole
      investment discretion with respect to each such account, and the
      Subscriber has full power to make the foregoing acknowledgements,
      representations and agreements on behalf of such account;

	 	 	 	 
	 	(w) 	
      the Subscriber is not aware of any advertisement of any
      of the Units and is not acquiring the Units as a result of any form of
      general solicitation or general advertising including advertisements,
      articles, notices or other communications published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any
      seminar or meeting whose attendees have been invited by general
      solicitation or general advertising; and

	 	 	 	 
	 	(x) 	
      no person has made to the Subscriber any written or oral
      representations:

	 	 	 	 
	 		(i) 	
      that any person will resell or repurchase any of the
      Shares,

	 	 	 	 
	 		(ii) 	
      that any person will refund the purchase price of any of
      the Shares,

	 	 	 	 
	 		(iii) 	
      as to the future price or value of any of the Shares,
      or

	 	 	 	 
	 		(iv) 	
      that any of the Shares will be listed and posted for
      trading on any stock exchange or automated dealer quotation system or that
      application has been made to list and post any of the Shares of the
      Company on any stock exchange or automated dealer quotation system, except
      that currently certain market makers make market in the shares of the
      Company's common stock on the OTC Bulletin Board.

5.2                    
In this Subscription, the term "U.S. Person" shall have the meaning ascribed
thereto in Regulation S promulgated under the 1933 Act and for the purpose of
the Subscription includes any person in the United States. 

6.                      
Acknowledgement and Waiver 

6.1                    
The Subscriber has acknowledged that the decision to purchase the Units was
solely made on the Company Information. The Subscriber hereby waives, to the
fullest extent permitted by law, any rights of withdrawal, rescission or
compensation for damages to which the Subscriber might be entitled in connection
with the distribution of any of the Shares. 

7.                      
Representations and Warranties will be Relied Upon by the Company

7.1                    
The Subscriber acknowledges that the acknowledgements, representations and
warranties contained herein are made by it with the intention that they may be
relied upon by the Company and its legal counsel in determining the Subscriber's
eligibility to purchase the Units under applicable securities legislation, or
(if applicable) the eligibility of others on whose behalf it is contracting
hereunder to purchase the Shares under applicable securities legislation. The
Subscriber further agrees that by accepting delivery of the certificates
representing the Shares, it will be representing and warranting that the
acknowledgements representations and warranties contained herein are true and
correct as of the date hereof and will continue in full force and effect
notwithstanding any subsequent disposition by the Subscriber of such Shares.

- 8 - 

8.                     
 Resale Restrictions 

8.1                    
The Subscriber acknowledges that any resale of the Shares will be subject to
resale restrictions contained in the securities legislation applicable to the
Subscriber or proposed transferee. The Subscriber acknowledges that the Shares
have not been registered under the 1933 Act or the securities laws of any state
of the United States. The Shares may not be offered or sold in the United States
unless registered in accordance with federal securities laws and all applicable
state securities laws or exemptions from such registration requirements are
available. 

9.                      
Legending and Registration of Subject Shares 

9.1                    
The Subscriber hereby acknowledges that upon the issuance thereof, and until
such time as the same is no longer required under the applicable securities laws
and regulations, the certificates representing any of the Shares will bear a
legend in substantially the following form: 

  
    
      
        THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED
          IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS
          DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES
          ACT OF 1933, AS AMENDED (THE "1933 ACT"). 

        NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN
          REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND,
          UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY,
          IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN
          ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT
          TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT
          TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
          THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY
          IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING
          TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN
          COMPLIANCE WITH THE 1933 ACT. "UNITED STATES" AND "U.S. PERSON" ARE
          AS DEFINED BY REGULATION S UNDER THE 1933 ACT. 

      

    

  

9.2                    
The Subscriber hereby acknowledges and agrees to the Company making a notation
on its records or giving instructions to the registrar and transfer agent of the
Company in order to implement the restrictions on transfer set forth and
described in this Subscription. 

10.                    
Costs 

10.1                   The
Subscriber acknowledges and agrees that all costs and expenses incurred by the
Subscriber (including any fees and disbursements of any special counsel retained
by the Subscriber) relating to the purchase of the Units shall be borne by the
Subscriber. 

- 9 - 

11.                    
Governing Law 

11.1                   This
Subscription is governed by the laws of the State of Nevada and the federal laws
of the United States applicable thereto. The Subscriber, in its personal or
corporate capacity and, if applicable, on behalf of each beneficial purchaser
for whom it is acting, irrevocably attorns to the exclusive jurisdiction of the
Courts of the State of Nevada. 

12.                     
Survival 

12.1                   This
Subscription, including without limitation the representations, warranties and
covenants contained herein, shall survive and continue in full force and effect
and be binding upon the parties hereto notwithstanding the completion of the
purchase of the Shares by the Subscriber pursuant hereto. 

13.                     
Assignment 

13.1                   This
Subscription is not transferable or assignable. 

14.                     Severability

14.1                    The
invalidity or unenforceability of any particular provision of this Subscription
shall not affect or limit the validity or enforceability of the remaining
provisions of this Subscription. 

15.                    Entire
Agreement 

15.1                   Except
as expressly provided in this Subscription and in the agreements, instruments
and other documents contemplated or provided for herein, this Subscription
contains the entire agreement between the parties with respect to the sale of
the Shares and there are no other terms, conditions, representations or
warranties, whether expressed, implied, oral or written, by statute or common
law, by the Company or by anyone else. 

16.                     
Notices 

16.1                    All
notices and other communications hereunder shall be in writing and shall be
deemed to have been duly given if mailed or transmitted by any standard form of
telecommunication. Notices to the Subscriber shall be directed to the address on
page 10 and notices to the Company shall be directed to it at the first page of
this Subscription. 

17.                     
Counterparts and Electronic Means 

17.1                    This
Subscription may be executed in any number of counterparts, each of which, when
so executed and delivered, shall constitute an original and all of which
together shall constitute one instrument. Delivery of an executed copy of this
Subscription by electronic facsimile transmission or other means of electronic
communication capable of producing a printed copy will be deemed to be execution
and delivery of this Subscription as of the date hereinafter set forth. 

- 10 - 

IN WITNESS WHEREOF the Subscriber has duly executed this
Subscription as of the date hereinafter set forth. 

DELIVERY AND REGISTRATION INSTRUCTIONS

	1. 	
      Delivery - please deliver the Share certificates
    to:

	 	 
	 	 
	 	 
	 	 
	 	 
	2. 	
      Registration - registration of the certificates which are
      to be delivered at closing should be made as follows (if different from
      above):

	 	 
	 	 
		
      (name)

	 	 
		
      (address)

	 	 
	3. 	
      The undersigned hereby acknowledges that he or she will
      deliver to the Company all such additional completed forms in respect of
      the Subscriber's purchase of the Shares as may be required for filing with
      the appropriate securities commissions and regulatory
  authorities.

	 	 
	 	(Name of Subscriber – Please type or print)
  
	 	 
	 	 
	 	(Signature and, if applicable, Officer title)
    
	 	 
	 	 
	 	(Address of Subscriber) 
	 	 
	 	 
	 	(City, State, and Zip Code of Subscriber)

	 	 
	 	 
	 	(Country of Subscriber) 
	 	 
	 	 
	 	(Fax Number and email address) 
	 	 
	 	 
	 	(Number of Units to be Purchased) 
	 	 
	 	 
	 	(Total Subscription Price)

- 11 - 

A C C E P T A N C E 

The above-mentioned Subscription in respect of the Units is
hereby accepted by ANAVEX LIFE SCIENCES CORP.. 

DATED at ______________________________, the _____ day of
__________________, 200_. 

ANAVEX LIFE SCIENCES CORP. 

 

Per:  
____________________________________________
         
Authorized Signatory

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