Document:

Form of Transitional Services Agreement

 Exhibit 10.2 
 DATED [                    ] 2012 

Elan Corporation Plc 
 and 
 Prothena Corporation Plc 

 
  

TRANSITIONAL SERVICES AGREEMENT 
  

 
  
  

 CONTENTS 
  

							
	1.	 	INTERPRETATION	  	 	1	  
	2.	 	SERVICES TO BE PROVIDED	  	 	5	  
	3.	 	WARRANTIES	  	 	6	  
	4.	 	PERSONNEL	  	 	6	  
	5.	 	DURATION	  	 	6	  
	6.	 	SERVICE FEES	  	 	6	  
	7.	 	TRANSITIONAL SERVICES CHANGE MANAGEMENT	  	 	7	  
	8.	 	INTELLECTUAL PROPERTY	  	 	7	  
	9.	 	DATA PROTECTION	  	 	7	  
	10.	 	TERMINATION	  	 	8	  
	11.	 	EFFECT OF TERMINATION	  	 	9	  
	12.	 	LIABILITY	  	 	9	  
	13.	 	AUDIT ACCESS	  	 	9	  
	14.	 	CONFIDENTIALITY	  	 	9	  
	15.	 	FORCE MAJEURE	  	 	10	  
	16.	 	ENTIRE AGREEMENT	  	 	10	  
	17.	 	ASSIGNMENT	  	 	10	  
	18.	 	SUB-CONTRACTING	  	 	10	  
	19.	 	NO PARTNERSHIP	  	 	10	  
	20.	 	VARIATION	  	 	10	  
	21.	 	SEVERABILITY	  	 	10	  
	22.	 	WAIVER	  	 	11	  
	23.	 	EXPENSES	  	 	11	  
	24.	 	NOTICES	  	 	11	  
	25.	 	DISPUTE ESCALATION PROCEDURE	  	 	11	  
	26.	 	NON SOLICITATION	  	 	12	  
	27.	 	COUNTERPARTS	  	 	12	  
	28.	 	GOVERNING LAW AND JURISDICTION	  	 	12	  

 SCHEDULE 1 – Transitional Services 
 SCHEDULE 2 – Service Fees 
 SCHEDULE 3 – Transitional Services Committee

 SCHEDULE 4 – Premises 

 THIS AGREEMENT is made the      day of
                 2012 (the “Effective Date”). 

BETWEEN: 
  

	 	(1)	Elan Corporation Plc, a public limited company incorporated in Ireland (registered number 30356) having its registered office is at Treasury Building, Lower
Grand Canal Street, Dublin 2, Ireland (“Elan”); 

  

	 	(2)	Prothena Corporation Plc, a public limited company incorporated in Ireland (registered number 518146) having its registered office is at 25-28 North Wall Quay,
Dublin 2 (“Prothena”) 

 (each a “Party” and together the “Parties”).

 WHEREAS: 
  

	A.	Elan entered into a demerger agreement with Prothena dated
[                    ] 2012 (the “Demerger Agreement”), pursuant to which the Prothena Business (as defined in the Demerger
Agreement) will be separated from Elan and transferred to Prothena. 

  

	B.	In accordance with the Demerger Agreement, Elan has agreed to provide to Prothena certain transition services for specified periods following Completion (as defined in
the Demerger Agreement), as set forth in Part A of Schedule 1. 

  

	C.	Elan desires to purchase from Prothena, and Prothena desires to provide to Elan certain transition services for specified periods following Completion as set forth in
Part B of Schedule 1. 

 NOW IT IS HEREBY AGREED as follows: 

 

	1.	INTERPRETATION 

  

	1.1.	Definitions 

 In this
Agreement the following terms shall have the meanings specified below: 
 Affiliate means, in relation to either party,
any company which is for the time being a holding company of that party or a subsidiary of that party or of any such holding company (as defined in Section 155 of the Companies Act 1963 (as amended)). 

Agreement means this agreement and the schedules hereto; 
 Applicable Law means any Irish, U.S. federal, state, local or other foreign statute, enactment, ordinance, order, regulation, guidance or other similar instrument (including building codes and
local authority byelaws) which relate to the provision or receipt of the Transitional Services or otherwise relate to the performance of this Agreement; 
 Background Intellectual Property Rights means any Intellectual Property Rights owned by or licensed to either Party and used by that Party in the provision of the Transitional Services; 

Breaching Party has the meaning set forth in clause 10.3; 

Business Day means 9am to 5.30pm on any day that is not a Saturday or a Sunday or public holiday, on which the banks are generally
open for business in Ireland and New York City, New York, United States; 
 Completion has the meaning given to it in the
Demerger Agreement; 
 Computer Systems means the computer equipment, software, ancillary equipment, communications
equipment, operating software, routers, hubs, servers, micro processors, firmware and any equipment or systems containing, controlled or affected by any of the foregoing and used by either Party in the supply of the Transitional Services;

  
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 Confidential Information means any information which might fairly be considered to be
of a confidential nature including commercial, business, financial, technical, operational, administrative, marketing, economic or other information or data (including trade secrets, know-how, customer and supplier details, new products, prices,
strategy, marketing, business opportunities and future plans) in whatever form supplied or received (whether in oral, written, magnetic, electronic, digital or any other form) relating to the business and/or the affairs of either Party which is
directly or indirectly disclosed or made available in connection with this Agreement by either Party, or on either Party’s behalf, to the other Party and/or any of the other Party’s directors, officers, employees, advisers or consultants
before or after the date of this Agreement; 
 Continuing Affiliate means any Affiliate of Elan that will continue to be
an Affiliate of Elan following Completion; 
 Data Protection Law means the Data Protection Acts 1988 and 2003 or any
other similar Applicable Law and where Data Controller, Data Processor and Personal Data or Processing are referred to in this Agreement they shall have the respective meanings set out in the Data Protection Law; 

Demerger Agreement has the meaning given to it in the Recitals 

Effective Date means the date of Completion; 
 Elan has the meaning set forth in the Recitals; 
 Elan Services Fees
has the meaning given to it in Clause 6; 
 Elan Services means the services to be provided by Elan to Prothena under
this Agreement as set out in Part A of Schedule 1 (which for the avoidance of doubt include the IT Services). 
 Force
Majeure means in relation to any Party, any circumstances beyond the reasonable control of that Party involving war, insurrection, riot, civil commotion, acts of terrorism, act of God, market closure (which is not in the ordinary course of
business), fire, water damage, explosion, mechanical breakdown, any law, decree, regulation or order of any government or governmental body (including any court or tribunal), any material interruption in telecommunications, Internet or utilities
services, in each case which is beyond the affected Party’s reasonable control and which actually prevents, hinders or delays such Party from performing its obligations under this Agreement; 

Good Industry Practice means, in relation to any undertaking and any circumstances, the exercise of the skill, diligence, and
prudence which would be expected from a reasonably skilled and experienced person engaged in the same type of undertaking in the same industry sector; 
 Initiating Party has the meaning given in clause 10.3; 
 Intellectual
Property Right means any trade mark, service mark, trade name, mask work, invention, discoveries, concepts, ideas and improvements to existing technology, patent, patent application, trade secret, copyright, know-how, data, proprietary
information, processes, procedure, protocol, techniques, designs, formulae, products, compounds, compositions, material, technologies, apparatus, devices, assays, screens, Internet domain names, trade dress and general intangibles of like nature
(together with goodwill), customer lists, confidential information, licences, software, databases and compilations including any and all collections of data and all documentation thereof (including any registrations or applications for registration
of any of the foregoing) all rights in or to any of the foregoing and any other similar type of proprietary intellectual property rights and “Intellectual Property” shall be construed accordingly; 

IT Services means the IT services more particularly described in Part A of Schedule 1; 

IT Services Agreement means any agreement to be entered into by Elan with a third party for the provision of the whole or part of
the IT Services; 
 Nominated Representatives means the representative of each of the Parties for the purposes of this
Agreement identified in Schedule 3; 

  
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 Party has the meaning given in the Recitals; 

Personal Data has the meaning given to it under the applicable Data Protection Law; 

Personnel means those employees and other personnel of either Party, allocated by such Party to provide the Transitional Services
or otherwise to be involved in the performance of this Agreement, including the Nominated Representatives; 
 Premises
means the premises identified in Schedule 4; 
 Proceedings shall have the meaning given in clause 28.2; 

Prothena Business has the meaning given to it in the Demerger Agreement; 

Prothena Services Fees has the meaning given to it in clause 6; 

Prothena Services means the services to be provided by Prothena and its Affiliates to Elan as set out in Part B of Schedule 1;

 Provider means (i) Elan or its Affiliates, as applicable, with respect to the Elan Services and
(ii) Prothena or its Affiliates, as applicable, with respect to the Prothena Services; 
 Service Fees means the
fees to be paid for the Transitional Services pursuant to clause 6 as more particularly set out in Schedule 2; 
 Service
Recipient means (i) Prothena or its Affiliates with respect to the Elan Services and (ii) Elan or any Continuing Affiliate with respect to the Prothena Services; 
 Service Tax or Service Taxes means sales, use, VAT (as defined below), ad volorem, transfer, recording, service, service use, and other similar taxes, fees, premiums, assessments or charges imposed
or collected by any governmental entity or political subdivision thereof, together with any related interest and any penalties, additions to such tax or additional amounts imposed with respect thereto by such governmental entity or political
subdivision; 
 Service Term means, in respect of each Transitional Service, the period from the date on which the
Transitional Service is scheduled to commence and on which the Transitional Service (or part of a Transitional Service) is provided during the Term as set out in Schedule 1, or if earlier, the date on which the Transitional Service is terminated in
accordance with Clause 10; 
 Transitional Services means either or both of the Elan Services and the Prothena Services,
as the context so requires and “Transitional Service” shall be construed accordingly; 
 Transitional
Services Commencement Date means the date of Completion; 
 Transitional Services Management Committee means the
committee to be established by the Parties pursuant to clause 7; 
 Term has the meaning given in clause 5; and

 VAT means Value Added Tax. 
  

	1.2.	Interpretation Generally 

  

	 	1.2.1.	Any reference to any statute, statutory provision or to any order or regulation shall be construed as a reference to that statute, provision, order or regulation as
extended, modified, replaced or re-enacted from time to time (whether before or after the date of this Agreement) and all statutory instruments, regulations and orders from time to time made thereunder or deriving validity therefrom (whether before
or after the date of this Agreement); 

  

	 	1.2.2.	words denoting any gender include all genders and words denoting the singular include the plural and vice versa; 

  
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	 	1.2.3.	all references to recitals, clauses, paragraphs, schedules and annexures are to recitals in, clauses and paragraphs of and schedules and annexures to this Agreement,
unless specified otherwise; 

  

	 	1.2.4.	headings are for convenience only and shall not affect the interpretation of this Agreement; 

 

	 	1.2.5.	words such as “hereunder”, “hereto”, “hereof” and “herein” and other words commencing with “here” shall unless the
context clearly indicates to the contrary refer to the whole of this Agreement and not to any particular section, clause or paragraph hereof; 

  

	 	1.2.6.	in construing this Agreement general words introduced by the word “other” shall not be given a restrictive meaning by reason of the fact that they are
preceded by words indicating a particular class of acts, matters or things and general words shall not be given a restrictive meaning by reason of the fact that they are followed by particular examples intended to be embraced by the general words
and any reference to the word “include” or “including” is to be construed without limitation; 

  

	 	1.2.7.	the word “or” shall unless the context clearly indicates to the contrary be interpreted as “and/or”; 

 

	 	1.2.8.	any reference to “Agreement” or any other document or to any specified provision of this Agreement or any other document is to this Agreement, that document
or that provision as in force for the time being and as amended from time to time in accordance with the terms of this Agreement or that document; 

  

	 	1.2.9.	any reference to a person shall be construed as a reference to any individual, firm, other party, corporation, government, state or agency of a state or any association
or partnership (whether or not having separate legal personality) of two or more of the foregoing; 

  

	 	1.2.10.	any reference to a person includes his successors, personal representatives and permitted assigns; 

 

	 	1.2.11.	“writing” or any similar expression includes transmission by facsimile sent in accordance with clause 24 of this Agreement; 

 

	 	1.2.12.	any references to “EUR,” “€” or “euros” are to euros, the lawful currency of Ireland; 

 

	 	1.2.13.	any references to “USD,” “$” or “dollars” are to U.S. dollars, the lawful currency of the United States; 

 

	 	1.2.14.	if any action or duty to be taken or performed under any of the provisions of this Agreement would fall to be taken or performed on a day which is not a Business Day
such action or duty shall be taken or performed on the Business Day next following such day; 

  

	 	1.2.15.	all references to time are references to Irish time; 

  

	 	1.2.16.	the contra proferentem rule of construction shall not apply in the interpretation of this Agreement; and 

 

	 	1.2.17.	for the avoidance of doubt, any reference to Ireland does not include Northern Ireland. 

 

	 	1.2.18.	Capitalized terms used but not defined herein shall have the meanings specified in the Demerger Agreement, as it may be amended from time to time.

  

	1.3.	Schedules 

 The contents
of the schedules form an integral part of this Agreement and shall have as full effect as if they were incorporated in the body of this Agreement and the expressions “this Agreement” and “the Agreement” as used in any of the
schedules shall mean this Agreement and any reference to “this Agreement” shall be deemed to include the schedules. 
  

	2.	SERVICES TO BE PROVIDED 

  
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	2.1.	With effect from the Transitional Services Commencement Date and subject to clauses 10 and 2.7: 

 

	 	2.1.1.	Elan or its Affiliates shall provide or procure the provision of the Elan Services to Prothena and its Affiliates for each Service Term as set forth in Part A of
Schedule 1; and 

  

	 	2.1.2.	Prothena or its Affiliates shall provide or procure the provision of the Prothena Services to Elan and any relevant Continuing Affiliates for the relevant Service Term
as set forth in Part B of Schedule 1. 

  

	2.2.	In performing its obligations under this Agreement, each party shall use reasonable endeavours to: 

 

	 	2.2.1.	provide the Transitional Services using commercially reasonable skill and judgment, in accordance with the policies and procedures of the Provider in place as of the
date of Completion and, to the extent applicable, in a comparable manner and to a comparable level of service as the Service Recipient enjoyed during the twelve (12) month period preceding the Transitional Services Commencement Date and at all
times in accordance with Applicable Law; 

  

	 	2.2.2.	maintain the necessary resources (human and technological) to provide the Transitional Services; and 

 

	 	2.2.3.	use reasonable endeavours to promptly obtain the authorisations, memberships, licences, approvals, consents or qualifications of any person as may be necessary for the
performance of its obligations pursuant to this Agreement, including obtaining from third party providers all consents necessary to grant any sublicenses in connection with the performance of Transitional Services hereunder and maintain such
authorisations, memberships, licences, approvals, consents and qualifications in full force and effect. 

  

	2.3	In the event that the consent of a third party provider, if required, is requested by the Provider and is not obtained within thirty (30) days following
Completion, the Provider shall notify the Service Recipient and shall cooperate with the Service Recipient to provide an alternate means of providing the Transitional Services affected by such failure to obtain consent, such alternative to be
reasonably satisfactory to the Parties. In the event that such an alternative is required and agreed upon by the Parties, the Provider shall provide the Transitional Services in such alternative manner and the Service Recipient shall bear any
expenses incurred in the provision of such Transitional Services through such alternative means. 

  

	2.4	If the Parties do not elect such an alternative plan, either Party may terminate any such affected Transitional Services upon ten (10) days’ prior written
notice. The Service Recipient shall be responsible for any costs or expenses incurred in connection with obtaining any consents, approvals or authorizations described in clause 2.2.3 or 2.3. 

 

	2.5	The Provider shall not be in breach of this Agreement for a failure, delay or other problem in connection with the provision of (or the procurement of the provision of)
the Transitional Services (or part thereof) to the extent the Provider’s inability to perform the Transitional Services is directly attributable to a failure by the Service Recipient. Where a failure by the Service Recipient causes a delay in
the provision of the Transitional Services, the time allowed in respect of the provision of such delayed Transitional Services shall be extended by the amount of time reasonably required to re-schedule events or steps that would otherwise have
occurred, but for, or which were directly impacted as a result of, such failure by the Service Recipient. 

  

	2.6	Notwithstanding anything to the contrary contained in this Agreement (including the accompanying schedules), no Provider (or any of its Personnel or, if applicable,
subcontractors) shall make any substantive business decisions with respect to the Service Recipient in performing Transitional Services. Each provision of this Agreement (including the accompanying schedules) shall be interpreted in a manner
consistent with this clause 2.6. 

  

	2.7	 Elan shall provide or procure the provision of the IT Services to Prothena and its Affiliates until (i) 30th June 2013, (ii) until the date of commencement of the IT
Services Agreement or (iii) until the IT Services are terminated in accordance with Clause 10, whichever date is the earlier. 

  

	3.	WARRANTIES 

  

	3.1.	Each Party warrants to the other Party that it has the corporate power and capacity and all necessary licences, permits and consents to enter into this Agreement and to
perform its obligations under this Agreement. 

  
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	3.2.	Except to the extent set out in this Agreement, all representations, warranties, conditions and other terms express or implied by statute or common law are, to the
fullest extent permitted by law, excluded from this Agreement. 

  

	4.	PERSONNEL 

  

	4.1.	Each Party shall co-operate as far as is reasonably practicable in providing any information or assistance reasonably requested by the other Party, provided that such
information is reasonably necessary in connection with the Transitional Services, and shall ensure that such of its Personnel whose decisions and input are necessary for the provision of the Transitional Services are reasonably available to the
other Party for consultation and negotiation in relation to any matter connected with this Agreement and the provision of the Transitional Services. 

  

	4.2.	Each Party shall allow or procure reasonable access to any Premises from which the Transitional Services are provided to suitable qualified Personnel of the other
Party, and each Party shall ensure that all of its Personnel allowed access pursuant to the provisions of this clause comply with all reasonable safety, confidentiality and security requirements notified to it from time to time by the Party allowing
access. 

  

	4.3.	It is acknowledged by the Parties that this Agreement constitutes a contract for the provision of services and not a contract of employment. Accordingly, during the
Term of this Agreement, each Party shall at all times retain overall control of its Personnel who shall perform the relevant Transitional Services at the direction of such Party; and such Party shall be solely responsible for the payment of all
remuneration and benefits of any kind (including all salaries, holiday pay, tax, health insurance, pay related social insurance payments and contributions to pension arrangements) and shall make all proper deductions from the remuneration that it
pays to its Personnel and sub-contractors. 

  

	5.	DURATION 

  

	    	This Agreement shall come into effect on the Transitional Services Commencement Date and unless earlier terminated pursuant to clause 10, shall continue in full force
for each Service Term set forth in part A or part B of Schedule 1, or until 31 December 2013 (whichever date is the earlier) unless terminated prior to the end of such period in accordance with this Agreement (“Term”).

  

	6.	SERVICE FEES 

  

	6.1.	As compensation for the Transitional Services to be provided hereunder, Prothena shall pay to Elan (or a nominated Affiliate) a fee for each Elan Service (the
“Elan Services Fees”) and Elan shall pay to Prothena (or a nominated Affiliate) a fee for the Prothena Services (the “Prothena Services Fees”) in each case in the amount and in accordance with Schedule 2 (which, for
the avoidance of doubt, reflects an arm’s length cost-plus standard) and including, as applicable, any fees for any Elan Services or Prothena Services provided by third party providers and invoiced to the Service Recipient at cost (such fees,
“Service Fees”). 

  

	6.2.	Unless otherwise stated (including in the relevant Schedules) all amounts payable under this Agreement shall be invoiced by the Provider (or its nominated Affiliate)
monthly in arrears and shall be due and payable in U.S. dollars within thirty (30) days after the receipt of such invoice. 

  

	6.3.	In addition to the amounts described in clause 6.1, each Service Recipient shall pay, and hold its Provider harmless against, any Service Taxes applicable to the
provision of the Transitional Services, which, for the avoidance of doubt, will not include any income or franchise taxes. In connection with the foregoing, all amounts stated to be payable under this Agreement are stated as exclusive of any VAT
chargeable on them, which shall be paid by the paying Party at the rate and in the manner prescribed in law from time to time. 

  

	6.4.	If the Service Recipient receives an invoice from the Provider which it disputes in good faith, the Service Recipient shall notify the Provider in writing of such
dispute as soon as reasonably practicable and the Service Recipient may withhold payment of such sums as are in dispute pending resolution of such dispute. 

  
 6 

	6.5.	Each party shall be entitled to receive interest on any payment not made to it when properly due to it pursuant to the terms of this Agreement, calculated from day to
day at a rate per annum equal to 2% above the providing base rate of the European Central Bank and payable from the day after date on which payment was due up to and including the date of payment. 

 

	6.6.	All Service Fees payable under this Agreement shall become due immediately on termination (in whole or in part) or expiry of this Agreement. 

 

	7.	TRANSITIONAL SERVICES CHANGE MANAGEMENT 

  

	7.1.	The Parties shall establish, operate and maintain the Transitional Services Management Committee during the Term of this Agreement and hereby appoint the respective
Nominated Representatives identified in Schedule 3 to serve on such Transitional Services Management Committee. 

  

	7.2.	Without prejudice to the other provisions of this Agreement, the Nominated Representatives of each Party shall meet every month in person or by telephone until
termination or expiry of this Agreement to discuss the performance of the Transitional Services. 

  

	7.3.	The Nominated Representatives shall be responsible for the management of all matters relating to the provision of the Transitional Services and for liaising with each
other to ensure the smooth operation of this Agreement and the proper discharge by each Party of its respective obligations. 

  

	7.4.	In the event that either Party’s Nominated Representative, shall for any reason, cease to be engaged in the Transitional Services, such Party shall take all
reasonable steps to arrange that a suitably qualified replacement is appointed as soon as is reasonably practical, that there is a reasonable handover period, that the adverse effects of a change of Nominated Representative are minimised and where
reasonably practicable, that the other Party is notified in writing in advance of the change. 

  

	7.5.	All changes to the Transitional Services shall be managed and agreed in writing between the Nominated Representatives. 

 

	8.	INTELLECTUAL PROPERTY 

  

	8.1	Save as expressly provided for in this Agreement, no party shall be granted any proprietary or other interest in respect of the Intellectual Property Rights of any
other party and, for the avoidance of doubt, nothing in this Agreement shall transfer or grant to Prothena any right, title or interest in or to any trademarks or other Intellectual Property Rights owned or used by Elan. 

 

	8.2	The Provider hereby grants, or shall procure the grant of, to the Service Recipient a non-exclusive, non-transferable, royalty-free licence (without the right to
sub-licence) to use any Intellectual Property Rights owned by the Provider (or licensed to the Provider) for the Term solely to the extent necessary for the receipt of the Transitional Services by the Service Recipient in accordance with and subject
to the terms of this Agreement and each such licence shall terminate automatically on cessation of the provision of the relevant Transitional Service to which it relates. 

 

	8.3	The Service Provider hereby grants to the Provider a non-exclusive, non-transferable, royalty-free licence (without the right to sub-licence) to use any Intellectual
Property Rights owned by the Service Recipient (or licensed to the Service Recipient) for the Term solely to the extent necessary for the provision of the Transitional Services by the Provider under this Agreement and each such licence shall
terminate automatically on cessation of the provision of the relevant Transitional Service to which it relates. 

  

	9.	DATA PROTECTION 

  

	9.1	With respect to the Parties’ rights and obligations under this Agreement in relation to Personal Data, the Parties agree that except to the extent set out in this
clause 9, they each shall remain solely responsible for determining the contents and use of their Personal Data. 

  

	9.2	To the extent that the provision of Transitional Services involves the processing of Personal Data by one Party (the “Data Processor”) on behalf of the
other (the “Data Controller”), the Data Processor agrees that: 

  
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	 	9.1.1.	it shall only process Personal Data in accordance with the instructions of the Data Controller and solely as strictly necessary for the performance of its obligations
under this Agreement; 

  

	 	9.1.2.	it shall implement and maintain such technical and organisational security measures as are required to comply with the data security obligations in Data Protection Law;

  

	 	9.1.3.	the Data Controller (or its authorised representative(s)) shall be entitled at its own cost, at reasonable times and on reasonable notice, to audit the technical and
organisational security measures adopted by the Processor to ensure that such measures comply with the data security obligations in Data Protection Law; and 

 

	 	9.1.4.	the Data Processor shall report any incident which gives rise to a risk of unauthorised disclosure, loss, destruction or alteration of such personal data to the
Controller immediately upon becoming aware of such an incident. 

  

	9.2.	In connection with the Parties’ access to the facilities and Computer Systems of the other: 

 

	 	9.2.1.	each Party agrees that it will comply, and will ensure that its respective employees, agents and suppliers comply, with its obligations as required under Data
Protection Law; and 

  

	 	9.2.2.	each Party agrees that it will use best endeavours to procure that its employees, agents and service providers only access and use relevant Premises, facilities,
systems and data as required for the performance of their allocated responsibilities and in accordance with such policies and procedures in force from time to time which have been notified to it in writing with respect to access to and use of the
other Party’s Premises including, inter alia, security policies and health and safety policies. 

  

	10.	TERMINATION 

  

	10.1.	Either Party may terminate this Agreement at any time forthwith on written notice if a receiver, examiner or administrator is appointed of the whole or any part of the
other Party’s assets or the other Party is struck off the Register of Companies in the jurisdiction where it was incorporated or an order is made or a resolution passed for winding up the other Party (unless such order or resolution (i) is
part of a voluntary scheme for the reconstruction or amalgamation of the Party as a solvent corporation and the resulting corporation, if a different legal person, undertakes to be bound by this Agreement or (ii) is discharged within twenty
(20) Business Days). 

  

	10.2.	The Service Recipient may terminate this Agreement with respect to any Transitional Service at any time prior to the last day of the Service Term for such Transitional
Service (as set forth on Schedule 1) upon fifteen (15) days’ written notice to the Provider. 

  

	10.3	A Party (the “Initiating Party”) may terminate this Agreement, only to the extent that it relates to any particular Transitional Service, with
immediate effect by written notice to the other Party (the “Breaching Party”) if the Breaching Party is in material breach of this Agreement and, if the breach is capable of remedy, fails to remedy the breach within twenty
(20) Business Days starting on the day after receipt of written notice from the Initiating Party giving full details of the breach and requiring the Breaching Party to remedy the breach and stating that a failure to remedy the breach may give
rise to termination under clause 10.3 of this Agreement. 

  

	10.4	Termination of this Agreement shall not prejudice any rights of either Party which may have arisen on or before the date of termination, including any rights to payment
of Service Fees pursuant to clause 6. 

  

	10.5	Any waiver by either Party of a breach of any provision of this Agreement shall not be considered as a waiver of any subsequent breach of the same or any other
provision. 

  

	10.6	Upon the termination of this Agreement for any reason, subject as otherwise provided in this Agreement to any rights or obligations which have accrued prior to
termination, neither of the Parties shall have any further obligation to the other under this Agreement. 

  

	10.7	Clauses 8, 9, 10.4, 10.5, 10.6, 11, 12, 13, 14, 24, 25 and 28 (inclusive) shall survive expiry or termination (for whatever reason) of this Agreement.

  
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	11.	EFFECT OF TERMINATION 

  

	11.1	Upon any termination or expiry of this Agreement (howsoever occasioned) each Party may require the other Party to return or delete, or to deliver up all or any off-line
storage and security and copies of, the requesting Party’s Confidential Information, Background Intellectual Property Rights and Personal Data then in the other Party’s possession or control (excluding documents stored in either
party’s back up electronic archives). 

  

	11.2	The provisions of this clause 11 shall apply mutatis mutandis to any partial termination of this Agreement. 

 

	12.	LIABILITY 

  

	12.1.	Nothing in this Agreement shall limit the liability of either party for: 

  

	 	12.1.1.	fraud or fraudulent misrepresentation; 

  

	 	12.1.2.	for death or personal injury caused by its negligence or the negligence of its employees, contractors or agents; 

 

	 	12.1.3.	any liability which cannot be excluded or limited by law. 

  

	12.2	Subject to Clause 12.1, no party shall be liable to another party for any indirect or consequential loss or damage even if foreseeable or if such party has been advised
of the possibility of such losses. 

  

	12.3	Subject to Clause 12.1, the total liability of either party arising under or in connection with this Agreement, whether in tort (including negligence), contract,
representation (other than fraudulent misrepresentations) or otherwise or for loss (whether direct, indirect or consequential) of business, profits, use, revenue, data, anticipated savings or goodwill shall be limited to USD$500,000.

  

	12.4	Neither party shall be liable for any failure to provide, or for any delay in the provision of, any of the Transitional Services to the extent that such failure or
delay is directly caused or is contributed to directly by any failure of a third party service provider retained directly by the Provider to provide an element of the Transitional Services. 

 

	13.	AUDIT ACCESS 

  

	13.1.	Each Party shall keep or cause to be kept full and accurate records (the “Records”) existing or generated as part of the Transitional Services
performed in connection with this Agreement in accordance with Applicable Law and regulation and consistent with Good Industry Practice. Such Records shall be kept for a period of seven (7) years from the date of their creation, and shall be
made available to the other Party promptly on request in such format as may be reasonably requested at the requesting Party’s cost. 

  

	13.2.	Each Party shall grant to the other Party, any internal, external and statutory auditors and/or regulators of the other Party and their respective authorised agents the
right of reasonable access to the Records and any sites and materials on reasonable notice and shall provide all reasonable assistance at all times for the purposes of carrying out an audit of the other Party’s compliance with this Agreement.
Each Party will give and procure such assistance as may be necessary for the other Party, their auditors and regulators, to understand any such information. 

 

	14.	CONFIDENTIALITY 

  

	14.1.	Any Confidential Information of either Party provided to or accessible by the other Party in connection herewith, regardless of form, shall be received and held in
confidence and used solely for purposes relating to this Agreement. 

  

	14.2.	“Confidential Information” as defined herein does not include any information (i) lawfully received by the receiving Party from another source free of
restriction and without breach of this Agreement, (ii) that becomes generally available to the public without breach of this Agreement, or (iii) known to the receiving Party at the time of disclosure free from any confidentiality
obligations (including existing confidentiality obligations to the other Party). Each Party shall be fully responsible for breaches of its obligations under this clause 14 by its agents, employees, contractors or subcontractors.

  
 9 

	14.3.	Nothing contained in this clause 14 shall prohibit any Party from disclosing, or permitting the disclosure of, Confidential Information if and only to the extent that
such Party is compelled to disclose such Confidential Information by judicial or administrative process or by other requirements of Applicable Law. 

  

	14.4.	Notwithstanding the foregoing, in the event that any demand or request for disclosure of Confidential Information is made as described in the preceding sentence, the
Party receiving such demand or request shall, unless prohibited by Applicable Law, promptly notify the other Party in writing of the existence of such demand or request and shall provide such Party with a reasonable opportunity to seek an
appropriate protective order or other remedy at such Party’s expense. In the event that such appropriate protective order or other remedy is not obtained or is not sought, the Party receiving such demand or request shall furnish, or cause to be
furnished, only that portion of the Confidential Information that is legally required to be disclosed. The provisions of this clause 14.4 do not apply to any legal proceedings between the Parties to this Agreement. 

 

	15.	FORCE MAJEURE 

  

	15.1.	If any Party is affected by Force Majeure, it shall promptly notify the other Party of the nature and extent of the circumstances in question. 

 

	15.2.	Provided that the Party affected by Force Majeure continues to use all reasonable endeavours to perform its obligations under this Agreement, such Party shall not be
deemed to be in breach of this Agreement, or otherwise be liable to the other Party, for any delay in performance or other non-performance of any of its obligations under this Agreement to the extent that the delay or non-performance is due to any
Force Majeure of which it has notified the other Party, and the time for performance of that obligation shall be extended accordingly. 

  

	16.	ENTIRE AGREEMENT 

  

	16.1.	This Agreement set out the entire agreement and understanding between the Parties in respect of the provision of Transitional Services and, save to the extent there has
been a fraudulent misrepresentation, supersedes all previous agreements, arrangements, representations and understandings between the Parties, whether written or oral, relating to the provision of Transitional Services, which shall cease to have any
further force or effect. 

  

	17.	ASSIGNMENT 

  

	17.1.	Neither Party may assign or otherwise transfer its rights or obligations under this Agreement without the prior written consent of the other Party.

  

	18.	SUB-CONTRACTING 

 The
Provider reserves the right to use sub-contractors to assist it in the provision of the Transitional Services as the Provider deems appropriate. 
  

	19.	NO PARTNERSHIP 

 Nothing
in this Agreement shall create, or be deemed to create, a partnership between the Parties. In providing and/or procuring the provision of the Transitional Services, the Parties shall at all times be independent contractors. 

 

	20.	VARIATION 

 This
Agreement may not be modified except by an instrument in writing signed by the duly authorised representatives of both Parties. 
  

	21.	SEVERABILITY 

 If any
provision of this Agreement is held by any court or other competent authority to be void or unenforceable in whole or in part, the other provisions of this Agreement and the remainder of the affected provisions shall continue to be valid. The
Parties shall then use all reasonable endeavours to replace the void or unenforceable provision with a valid and enforceable substitute provision, the effect of which is as close as possible to the intended effect of the void or unenforceable
provision. 

  
 10 

	22.	WAIVER 

 Either Party may
(a) extend the time for the performance of any of the obligations or other acts of the other Party, (b) waive any inaccuracies in the warranties contained herein or in any document delivered pursuant to this Agreement or (c) waive
compliance with any of the agreements or conditions contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing signed by the Party to be bound thereby. Any failure to assert, or delay in the assertion
of, rights under this Agreement shall not constitute a waiver of those rights or of any other rights under this Agreement. 
  

	23.	EXPENSES 

 Except as
otherwise provided in this Agreement, the Parties shall bear their respective direct and indirect costs and expenses incurred in connection with the negotiation, preparation, execution and performance of this Agreement and the transactions
contemplated hereby. 
  

	24.	NOTICES 

  

	24.1.	 Any notice or other communication to be given by one Party to the other Party under, or in connection with, this Agreement shall be in writing and
signed by or on behalf of the Party giving it. It shall be served by sending it by fax to the number set out in Schedule 3, or delivering it by hand, or sending it by pre-paid recorded delivery, special delivery or registered post, to the address
set out in Schedule 3, and in each case marked for the attention of the relevant Party set out in Schedule 3 (or as otherwise notified from time to time in accordance with the provisions of this clause). Any notice is effective when delivered. A
notice given by post shall be deemed (if not proved to have been delivered earlier) to have been duly given on the third
(3rd) day after posting.

  

	24.2.	A Party may notify the other Parties to this Agreement of a change to its name, relevant addressee, address or fax number for the purposes of this clause, provided that
such notice shall only be effective on: 

  

	 	24.2.1.	the date specified in the notice as the date on which the change is to take place; or 

 

	 	24.2.2.	if no date is specified or the date specified is less than five (5) Business Days after the date on which the notice is received, the date falling five
(5) Business Days after notice of any change has been received. 

  

	25.	DISPUTE ESCALATION PROCEDURE 

  

	25.1.	Where at any point during the Term of this Agreement any matter relating to this Agreement cannot be agreed by the Parties, it shall be escalated as follows:

  

	 	25.1.1.	the matter shall be referred as soon as practicable to the Nominated Representative for resolution; and 

 

	 	25.1.2.	if the matter has not been resolved within ten (10) Business Days (or such longer period as may be agreed in writing by the Parties) of being referred to the
Nominated Representative or if the Nominated Representative determine it is incapable of being resolved at that level, then the matter shall be immediately referred to the Chief Executive Officer of Prothena and the Chief Executive Officer of Elan;
and 

  

	 	25.1.3.	if after the expiry of 30 Business Days from the time the matter in dispute was referred to the CEO of each of Elan and Prothena the matter remains unresolved, the
Parties shall refer the matter to non-binding mediation in accordance with the procedure set out in clause 21.3.1 of the Demerger Agreement. 

  

	 	25.1.4.	in the event that:- 

  

	 	(1)	having been so requested, the mediation does not commence within 20 Business Days of the request for mediation; or 

  
 11 

	 	(2)	a binding settlement in writing is not reached within a period of 60 Business Days after the delivery of a written request for mediation; 

 

	 	25.1.5.	and, in any such case, the dispute or difference referred to in this clause 25 remains unresolved, the Parties (or the relevant one of them) shall then be entitled to
instigate legal proceedings 

  

	25.2.	Any joint decision as to a resolution at any stage in the above process shall be recorded in writing and signed on behalf of each Party and shall be final and binding
on the Parties. 

  

	26.	NON SOLICITATION 

 The
parties will comply with their non solicitation obligations at clause 17 of the Demerger Agreement. 
  

	27.	COUNTERPARTS 

 This
Agreement may be executed in any number of counterparts and by the Parties to it on separate counterparts, each of which is an original but all of which together constitute one and the same instrument. This Agreement shall be of no effect unless and
until each Party has executed at least one counterpart. 
  

	28.	GOVERNING LAW AND JURISDICTION 

  

	28.1.	This Agreement shall be governed by and construed in accordance with the laws of Ireland. 

 

	28.2.	Subject to the provisions of clause 25, each of the Parties irrevocably agrees that the courts of Ireland are to have non-exclusive jurisdiction to settle any dispute
arising out of or in connection with this Agreement and, for such purposes, irrevocably submits to the non-exclusive jurisdiction of such courts. Any proceeding, suit or action arising out of or in connection with this Agreement (the
“Proceedings”) may therefore be brought in the courts of Ireland. 

  

	28.3.	Each of the Parties irrevocably waives any objection to Proceedings in the courts referred to in clause 28.2 on the grounds of venue or on the grounds of forum non
conveniens. 

  

	28.4.	The submission to the non-exclusive jurisdiction of the courts referred to in clause 28.2 shall not (and shall not be construed so as to) limit the right of the Parties
to take Proceedings against the other Party in any other court of competent jurisdiction, nor shall the taking of Proceedings in any one or more jurisdictions preclude the taking of Proceedings in any other jurisdiction (whether concurrently or not)
if and to the extent permitted by applicable law and subject to the provisions of clause 25. 

  
 12 

 IN WITNESS whereof this Agreement has been duly executed on the date shown at the beginning of this
Agreement. 
 SIGNED for and on behalf 
 of ELAN CORPORATION PLC 
 by 

 

			
		
	  	 	 
	(Signature)	 	

 in the presence of: 
  

			
		
	Signature of Witness:	 	  
		
	Name of Witness:	 	 
		
	Address of Witness:	 	 
		
	Occupation of Witness:	 	 

  
 13 

 SIGNED for and on behalf 
 of PROTHENA CORPORATION PLC 
 by 
 in the presence of: 
  

			
		
	  	 	 
	(Signature)	 	

  

			
		
	Signature of Witness:	 	  
		
	Name of Witness:	 	 
		
	Address of Witness:	 	 
		
	Occupation of Witness:	 	 

  
 14 

 SCHEDULE 1 
 Transitional Services 
 The following categories of services will be provided: 

Part A – Elan Services 
 The Elan
Services shall comprise the following: 
  

							
	 Elan Service
	  	 Description of Services
	  	 Date Service

Term

ends
	  	 Personnel for

provision of the
 Elan Services

	CMC / QA	  		  		  	
		  	Chemistry, Manufacturing and Control Project Management for all Prothena Programs. Managing processes with Boehringer Ingelheim on three projects: NEOD001, NEOD002, MCAM	  	29 March 2013	  	Gerry Murphy
				
		  	Packaging and Labling Management for all Prothena Programs including NEOD001, NEOD002, MCAM	  	28 June 2013	  	Phil Chou
				
		  	Bio Ananlytical Management for all Prothena Programs including NEOD001, NEOD002, MCAM	  	28 June 2013	  	Holly Lin
				
		  	Quality Assurance Management for all Prothena Programs including NEOD001, NEOD002, MCAM	  	1 April 2013	  	Patrick Smith
				
		  	Chemistry, Manufacturing and Control Project Management for all Prothena Programs including NEOD001, NEOD002, MCAM	  	1 March 2013	  	David Bruton
				
		  	Chemistry, Manufacturing and Control Regulatory Management for all Prothena Programs including NEOD001, NEOD002, MCAM	  	1 April 2013	  	Karen Quigley / Amy Smith
				
	Information Services	  		  		  	
		  	Provide laboratory notebook type services	  	1 March 2013	  	Cary Cochrell

  
 15 

							
				
	Facilities	  		  		  	
		  	Environmental Health & Safety Management for Prothena	  	1 April 2013	  	David Meyer
				
		  	Security Management for Prothena	  	26 April 2013	  	Alex Sanchez
				
		  	Procurement Management for Prothena	  	26 April 2013	  	Jim Latimer
				
	Company Secretary	  		  		  	
		  	Secretarial and Corporate Support for Prothena’s Irish Companies (Neotope Biosciences Ltd, Onclave Therapeutics Ltd and Prothena plc)	  	28 June 2013	  	Liam Daniel
				
		  	These services shall not include acting as a company secretary, director or officer for any of Prothena companies or Affiliates (including Neotope Biosciences Ltd., Onclave
Therapeutics Ltd and Prothena Plc) or acting as an authorised signatory or providing a registered office for any of the Prothena companies or Affiliates.	  		  	
				
	Finance	  		  		  	
		  	External financial reporting services including assistance with SEC external reporting filing obligations for year end 2012	  	31 March 2013	  	Darragh Lyons
				
		  	Accounts payable services - provision of temporary accounts payable services as required	  	 28 February

2013
	  	Dan Hensley
				
		  	Irish tax transition assistance to Prothena finance team - Irish tax compliance and tax registration assistance and general Irish tax advice	  	31 March 2013	  	Sean Murphy
				
		  	SOX / Internal Audit services - advisory / consulting services, including initial filing setup	  	31 March 2013	  	 Edgar Trinidad /

Sandy Alipio

				
		  	Assistance with opening bank accounts	  	31 March 2013	  	 David Egan

  
 16 

							
				
	Legal	  		  		  	
		  	Oversight of outside IP and corporate counsel, assistance/ guidance on IP, transactional, regulatory, compliance and corporate matters.	  	 31 December

2012
	  	Nina Ashton
				
		  	Stock Administration Training for Prothena	  	 31 March
 2013
	  	Liz Fitzgerald
				
		  	Assistance with legal obligations associated with the recent formation of Prothena Biosciences Inc.	  	 31 March
 2013
	  	John Donahue (Legal 5%, HR 10%)
		  		  	 31 March
 2013
	  	Diana King
				
		  	Ensure transition of appropriate employee data/information from Elan to Prothena; assistance/guidance on select employee relations and employment law topics; other misc. topics, if
needed	  	 31 March
 2013
	  	Mike Feinman
				
	Compliance	  		  		  	
		  	Assist in the setting up of Compliance Management for Prothena. Assist in the day-to-day operations of the Compliance Program	  	 31 March
 2013
	  	Fabiana Lacerca-Allen
				
	HR	  		  		  	
		  	Ensure appropriate/smooth transition of year-end 2012 compensation process; provide access to any 2013 compensation surveys (to extent it already has access); HRIS topics related to
compensation (e.g., data requirements, modeling approach); other misc. compensation topics	  	 31 March
 2013
	  	Tara Cassidy
				
		  	Ensure appropriate/smooth transition to 2013 Prothena benefits platform; assistance to deal with immediate needs @ plan-year beginning; HRIS topics related to benefits (e.g., file
feeds to carriers); other misc. benefits topics	  	 31 March
 2013
	  	Laura Klenske

  
 17 

							
				
	External Communications	  	Assist Prothena to establish its investor relation function, including identification and initial management of an external vendor to conduct relations on behalf of
Prothena	  	31 December 2012	  	Anita Kawatra
				
	Other	  	Continue to support Prothena’s Research initiatives	  	31 December 2012	  	Peter Seubert
				
		  	Oversight of operations including facilities, IT, compliance and HR	  	11 January 2013	  	Johannes Roebers
				
	IT Services	  	 •   Helpdesk Support

 
 •   IT Procurement
support
  

•   Client Software Installations and Support

 
 •   Client Hardware
Break/Fix Support
  

•   Mobile Device Management

 
 •   User Provisioning
/Deactivation
  

•   Email Management

 
 •   Application User
Account Management
  

•   Fixed Line Telephony, and Voicemail support

 
 •   File and Print
Server management
  

•   Audio Conference Support

 
 •   Telecom
Support
  

•   Patch Management
  
	  	Service Term ends in accordance with clause 2.7	  	

  
 18 

							
		  	 •   Mobility Services

 
 •   VPN Remote
access
  

•   Data Centre Management

 
 •   Provision of IT
security Management
  

•   Action vulnerability notifications on IT infrastructure.

 
 •   Manage service to
minimize the impact on business operations after an IT Security incident has occurred.
  

•   IT Compliance including SOX management

 
 •   Lab Systems
Support
  

•   Back up & Recovery Management

 
 •   Lab System Recovery
Support
  

•   Network and Firewall Management,

 
 •   Local Area Network
Management
  

•   Server Management

 
 •   Storage
Management
  

•   Infrastructure Backups

 
 •   ERP
Support
  

•   Domain Registrations and Management

 
 •   Technical Website
Management
  
	  		  	

  
 19 

							
		  	 •   IT Vendor Contract management
	  		  	

 Part B -Prothena Services 
  

							
	 Prothena Service
	  	 Description of Services
	  	 Date Service Term

ends
	  	 Personnel for the

provision of the Prothena
 Services

	Finance	  	Provision of clinical costing / financial modelling services	  	31 March 2013	  	Randy Fawcett
				
	Tysabri Services	  	 Working with Elan on ongoing studies for VLA4 antagonists including:

 
 -CIDP

 
 -Spinal Cord Injury

 
 -Other similar studies

 
 Providing Elan with the assistance necessary to connect with the right laboratories
for ongoing VLA4 antagonist studies.
  
 Working with Elan on Tysabri risk
stratification
  
 Working with Elan on PML issues

 
 Finalizing discussion papers with BIIB on risk stratification and PML
biology
  
 Working with Elan medical affairs on educational programs both
internally and externally.
  
 Providing assistance with the history of
Tysabri from a research and clinical development perspective
	  	31 December 2013	  	

  
 20 

							
				
	Elan Publication Review	  	At the request of Elan / Guriq Basi; Gene Kinney / Prothena will assist Guriq Basi / Elan in reviewing proposed Elan publications related to work done at Elan prior to
Completion. Such assistance shall not require a time commitment of in excess of five percent of any work day of Gene Kinney and shall end no later than June 30, 2013	  	30 June 2013	  	 Gene Kinney

  
 21 

 SCHEDULE 2 
 Service Fees 
  

	1.1	The Elan Services Fees will comprise: 

  

	1.1.1	a charge per full time equivalent (“Full Time Equivalent” or “FTE”) allocated by Elan to the provision of the Elan Services (excluding the IT
Services, which are addressed below) (plus a mark up of 40% to cover the fully loaded cost (including overheads) and reflect an arm’s length cost-plus standard). The FTE shall be calculated on the basis of the number of Elan staff or
contractors supporting the provision of the Elan Services in a particular month, and the portion of time dedicated by them to the provision of the Elan Services. The FTE shall be calculated by using a rate of USD$250,000 per annum (before mark up of
40%) per employee allocated by Elan to provide the Elan Services who are in Elan’s staff wage bands 1-5. A rate of USD$400,000 per annum (before mark up of 40%) shall apply for any employee allocated by Elan to provide the Elan Services
who are in Elan’s staff wage band 6 and above. 

  

	1.1.2	a fixed monthly charge of USD$75,000 (which includes a mark up) in respect of the IT Services for so long as such services are provided in accordance with clause 2.7 of
this Agreement, which, for the avoidance of doubt, reflects and arm’s length cost-plus standard. 

  

	1.2	The Prothena Services Fees will comprise: 

  

	1.2.1	a charge per full time equivalent (“Full Time Equivalent” or “FTE”) allocated by Prothena to the provision of the Prothena Services (plus a
mark up of 40% to cover the fully loaded cost (including overheads) and reflect an arm’s length cost-plus standard). The FTE shall be calculated on the basis of the number of Prothena staff or contractors supporting the provision of the
Prothena Services in a particular month, and the portion of time dedicated by them to the provision of the Prothena Services. The FTE shall be calculated by using a rate of USD$250,000 per annum (before the mark up of 40%) for any employee allocated
by Prothena to provide the Prothena Services who was last in Elan’s staff wage bands 1-5 prior to Completion. A rate of USD$400,000 per annum (before mark up of 40%) shall apply for any employee allocated by Prothena to provide the Prothena
Services who was last in Elan’s staff wage band 6 prior to Completion. If an employee is used by Prothena to provide the Prothena Services who was not employed by Elan or Prothena or an Affiliate in the 12 months prior to Completion then the
rate for that employee shall be determined by using (i) a rate of USD$250,000 per annum (before the mark up of 40%) if that employee is in Prothena staff wage tier 4-5 or (ii) a rate of USD$400,000 per annum (before mark up of 40%) if that
employee is in Prothena staff wage tier 1-3. 

  

	1.2.2	a fixed monthly charge of USD$6,000 (which includes a mark up) in respect of the Tysabri services for so long as such services are provided under this Agreement to
account for use of lab space and capital equipment for any month in which Elan Employees use Prothena lab space or Tysabri samples are analyzed using Prothena equipment. 

 

	2.	The Provider shall ensure that its payroll system shall be structured so that the payroll costs in respect of FTE’s engaged in the provision of the Transitional
Services it is providing shall be separately identifiable and capable of allocation so as to facilitate the calculation of the Service Fees in accordance with this Schedule 2. 

 

	3.	During the Term and at the start of each calendar month, the Provider shall deliver to Service Recipient an estimate which the parties will agree as the estimate of
resources and the Provider’s staff or contractors which will be required for the provision of its Transitional Services in that month. The estimate shall state the amount of Service Fees it is estimated will be due in respect of the
Provider’s Transitional Services for the relevant period. 

  
 22 

	4.	At the end of each calendar month, the Provider shall provide the Service Recipient with a report detailing the services provided, and the categories and line items
under which its Service Fees have been accrued, in respect of that monthly period (the “Monthly Report”) which shall include the FTE allocation. 

 

	5.	The Provider shall issue an invoice for the Service Fees detailing the amount due in respect of its Transitional Services respectively for the relevant period. Where
costs in Euro have been incurred by the Provider in the relevant period the parties agree to use of an average of the exchange rate between the U.S. dollar and Euro over the relevant period which shall then be reflected in the monthly invoice in
U.S. dollars for that period. 

  

	6.	All Service Fees shall be subject to increase or decrease (by way of reconciliation in subsequent invoices) to the extent such increases or decreases are provided for
by Schedule 2. 

  

	7.	Any disputes in relation to the Service Fees shall be dealt with in accordance with Clause 25. 

 The following is an illustrative table showing how the Service Fees will be calculated each month: 
 Elan Services to Prothena 
  

									
	 Name / Department
	  	 Rate
	  	% time charged to
Prothena for relevant
month	 	Monthly Cost	 
	 	  	 	  	 	 	(Excluding
uplift of 40%)	 
	 CMC / QA
	  		  		 			
	 Gerry Murphy
	  	 $250,000 per annum

$20,833 per month
	  	100%	 	$	20,833	  
				
	 Legal
	  		  		 			
	 Nina Ashton
	  	 $400,000 per annum
 $33,333
per month
	  	40%	 	$	13,333	  
	 IT Services
	  		  	Not applicable	 	$	75,000	  
	 Total cost per month (excluding IT services):
	  		  		 	$	34,166	  
	 Plus 40% uplift:
	  		  		 	$	47,832	  
	 Total cost per month (including uplift and IT services):
	  		  		 	$	122,832	  

  
 23 

 Prothena Services to Elan 

 

									
	 Name / Department
	  	 Rate
	  	% time charged to
Prothena for relevant
month	 	Monthly Cost	 
	 	  	 	  	 	 	(Excluding
uplift of 40%)	 
	 Finance
	  		  		 			
	 Randy Fawcett
	  	 $250,000 per annum

$20,833 per month
	  	2.5%	 	$	521	  
	 Total Cost per month:
	  		  		 	$	521	  
	 Plus 40% uplift:
	  		  		 	$	729	  
	 Total cost per month:
	  		  		 	$	729	  

  
 24 

 SCHEDULE 3 
 Transitional Services Committee 
 Nominated Representative 

Elan Nominated Representative 
  

	
	 Name & Contact Details

	 Name: Mary Sheahan
 Address:
Elan Corporation plc, Treasury Building, Lower Grand Canal Street, Dublin 2
 Telephone: +353 1 709 4039

Fax: +353 1 709 4700
 E-mail:
Mary.Sheahan@elan.com

 Prothena Nominated Representative 

 

	
	 Name & Contact Details

	 Name: Randy Fawcett
 Address:
Prothena Biosciences Inc, 650 Gateway Boulevard, South San Fancisco, California 94080
 Telephone: 650 837 8550

Fax: 837 8560
 E-mail:

 Elan Nominated Representative for Invoices and Invoice related correspondence 

 

	
	 Name & Contact Details

	 Name: Mary Sheahan
 Address:
Elan Corporation plc, Treasury Building, Lower Grand Canal Street, Dublin 2
 Telephone: +353 1 709 4039

Fax: +353 1 709 4700
 E-mail:
Mary.Sheahan@elan.com

 Prothena Nominated Representative for Invoices and Invoice related correspondence 

 

	
	 Name & Contact Details

	 Name:
 Address:

Telephone:
 Fax:

E-mail:

  
 25 

 SCHEDULE 4 
 Premises 
 Elan Premises 
 Treasury Building, Lower Grand Canal Street, Dublin 2 
 Prothena Premises 

650 Gateway Boulevard 
 South San Francisco

 CA 94080Form of Research and Development Services Agreement

 Exhibit 10.4 
 [                        ] 2012 

ELAN CORPORATION PLC 
 AND 
 PROTHENA CORPORATION PLC 

RESEARCH AND DEVELOPMENT SERVICES 
 AGREEMENT 

 Contents 

 

							
	  	 	 Clause
	  	 Page
	 
	 1.
	 	Interpretation	  	 	1	  
	 2.
	 	Projects	  	 	4	  
	 3.
	 	Services	  	 	4	  
	 4.
	 	Governance	  	 	5	  
	 5.
	 	Payments	  	 	5	  
	 6.
	 	Intellectual Property Rights and Publication:	  	 	6	  
	 7.
	 	Confidentiality	  	 	7	  
	 8.
	 	Warranties	  	 	7	  
	 9.
	 	Insurance	  	 	8	  
	 10.
	 	Dispute Resolution	  	 	8	  
	 11.
	 	Data Protection	  	 	8	  
	 12.
	 	Term and Termination	  	 	8	  
	 13.
	 	Liability	  	 	9	  
	 14.
	 	Personnel	  	 	9	  
	 15.
	 	Force Majeure	  	 	9	  
	 16.
	 	Assignment	  	 	9	  
	 17.
	 	Relationship between the parties	  	 	10	  
	 18.
	 	Notices	  	 	10	  
	 19.
	 	Variation	  	 	10	  
	 20.
	 	Waiver	  	 	10	  
	 21.
	 	Rights Cumulative	  	 	10	  
	 22.
	 	Severability	  	 	11	  
	 23.
	 	Entire Agreement	  	 	11	  
	 24.
	 	Survival	  	 	11	  
	 25.
	 	Further Assurances	  	 	11	  
	 26.
	 	Governing Law and Jurisdiction	  	 	11	  

  Schedule 1 – Prothena Services 
 Schedule 2 – Charges 

 This Agreement is made on
                     2012 
 Between

  

	(1)	Elan Corporation Plc a public limited company incorporated in Ireland, with registered number 30356 having its registered office at Treasury Building, Lower
Grand Canal Street, Dublin 2, Ireland (Elan); and 

  

	(2)	Prothena Corporation Plc a public limited company incorporated in Ireland with registered number 518146 having its registered office is at 25-28 North Wall Quay,
Dublin 2, Ireland (Prothena). 

 (each a Party, together the Parties) 

Whereas 
  

	A.	Elan has entered into an agreement with Prothena dated [            ] (the “Demerger
Agreement”) whereby Elan has transferred to Prothena the Prothena Business (as defined in the Demerger Agreement) which comprises the biotechnogy business focused on the discovery and development of novel antibodies for the potential
treatment of a broad range of diseases. 

  

	B.	Elan and Prothena have agreed to enter into this agreement in accordance with the terms of the Demerger Agreement in order to make available to Elan certain of
Prothena’s resources and services on the terms and conditions and subject to the limitations herein with a view to conducting research and development to identify potential therapeutics or potential targets for intervention for the Projects.

 It is agreed 
  

	1.	Interpretation 

  

	1.1.	In this Agreement: 

Affiliate means, in relation to either party, any company which is for the time being a holding company of that party or a
subsidiary of that party or of any such holding company (as defined in section 155 of the Companies Act 1963 (as amended)). 

Applicable Law means: 
  

	 	(a)	any statute, regulation, by law, ordinance or subordinate legislation which is in force for the time being to which a party is subject; 

	 	(b)	the common law as applicable to the parties (or any one of them); 

	 	(c)	any binding court order, judgment or decree applicable to the parties (or any one of them); and 

	 	(d)	any applicable industry code, policy, guidance, standard or accreditation terms (i) enforceable by law which is in force for the time being, and/or
(ii) stipulated by any regulatory authority to which any party is subject. 

 Background Intellectual
Property means, in respect of any party, any Intellectual Property (other than Foreground Intellectual Property) which is owned by or licensed to such party before the Effective Date or is later developed or otherwise acquired by such party
independently of performing its obligations under this Agreement and which is used or is required for use in connection with any Project or services contemplated under this Agreement. 

Business Day means a day other than a Saturday, Sunday or public holiday in Ireland 

Charges has the meaning given to it in clause 5.1. 
 Completion has the meaning given to it in the Demerger Agreement 

Confidential Information means the confidential information more particularly described in clause 7. 

Data means, in respect of either party, all data or records of whatever nature and whatever form (including Personal Data)
relating to the business, clients, potential clients or employees of that party, whether subsisting before the date of this Agreement or as created or processed as part of, or in connection with, any Project or Services. 

 Dispute means any dispute or difference arising out of or in connection with this
Agreement. 
 Data Protection Law means the Data Protection Acts 1988 and 2003 or any other similar Applicable Law and
where Data Controller Data Processor and Personal Data or Processing are referred to in this Agreement they shall have the respective meanings set out in Data Protection Law. 

Effective Date means the date of Completion. 
 Fixed Charge has the meaning given to it in Schedule 2. 
 Final
Report means a written report prepared and agreed by Elan and Prothena at the completion of a Project, as more fully described in clause 4.4. 
 Foreground Intellectual Property means any Intellectual Property that is specifically related to any Project that arises or is created in the course of or in connection with any Project and
(i) has no applicability to the Prothena Business (“Elan Foreground IP”); or (ii) has applicability to the Prothena Business (“Prothena Foreground IP”) which Intellectual Property arises or is created in
the course of or in connection with the provision of the Prothena Services, including adaptations, amendments, variations and derivatives to the other party’s Background Intellectual Property. 

Full Time Equivalent or FTE has the meaning given to it in Schedule 2 

Good Industry Practice means the exercise of that degree of reasonable skill, diligence, prudence and foresight which would be
expected from a skilled and experienced provider of services similar to the Prothena Services, seeking in good faith to comply with its contractual obligations including, without limitation compliance with all Applicable Laws. 

Insolvency Event means in respect of a party (the Affected Party): 

 

	 	(a)	if the Affected Party enters into liquidation whether compulsory or voluntary (other than for the purposes of amalgamation or reconstruction approved in writing by the
former party on the basis that the resulting company undertakes that other party’s obligations under this Agreement and is commercially acceptable to the former party which approval shall not be unreasonably withheld or delayed); or

  

	 	(b)	if the Affected Party has a receiver or administrative receiver or administrator or similar official appointed over all or any of its assets and not discharged within a
period of thirty (30) days; or 

  

	 	(c)	if the Affected Party is declared insolvent or makes any general composition with its creditors; or 

 

	 	(d)	if the Affected Party ceases or threatens to cease to carry on the whole or any material part of its business and any such cessation, in the reasonable opinion of the
party terminating this Agreement, would be likely to affect adversely the other party’s ability to observe and perform properly and punctually all or any of its obligations under or pursuant to this Agreement. 

Intellectual Property means all (a) inventions (whether or not patentable and whether or not reduced to practice), records of
inventions, test information, developments, applications, improvements, formulae, concepts, ideas, methods or processes, research property rights, all improvements to any of the foregoing, and all Patents, (b) Trademark Rights and all
copyrightable works, (c) copyrights, and all applications, registrations, and renewals in connection therewith, (d) trade secrets, know-how rights and confidential information (including all ideas, concepts, research and development,
know-how, composition information and embodiments, manufacturing and production processes, techniques and information, specifications, technical and business data, designs, drawings, supplier lists, pricing and cost information, and data and
know-how embodied in business and marketing plans and proposals), (e) computer software, firmware and applications (including source code, executable code, data, databases, programming and notes and documents and other related documentation) ,
(f) works and designs embodied in advertising and promotional materials, (g) other proprietary rights and (h) copies and tangible embodiments of the foregoing in whatever form or medium. 

  
 2 

 Mark-Up has the meaning given to it in Schedule 2. 

Monthly Report has the meaning given to it in Schedule 2. 

Owning Party means: (a) in the case of any Elan Background Intellectual Property, Elan; (b) in the case of any Prothena
Background Intellectual Property, Prothena; and (c) in the case of Elan Foreground IP, Elan and (d) in the case of Prothena Foreground IP, Prothena 
 Person means any individual, firm, partnership, company, corporation, government authority or other entity. 
 Personnel means any individuals engaged in the provision of the Prothena Services on behalf of a party, including any employees, agents and sub-contractors of that party. 

Processing means obtaining, recording or holding Personal Data or carrying out any operation or set of operations on Personal
Data. 
 Project(s) means research and development activity in support of the programs referred to in Schedule 1.

 Project Manager means the person to be appointed in accordance with clause 4.1. 

Project Plan means the project plan agreed to by the parties in respect of each Project. 

Prothena Services means those services more particularly described in Schedule 1 provided that any “Prothena Services”
shall be substantially similar to services provided, prior to Completion, by Prothena to Elan in conducting the Prothena Business. 
 Research Costs has the meaning given to it in Schedule 2. 
 Term
means the term of this Agreement as set out in clause 12. 
 Third Party Contract has the meaning as set out in clause
3.6. 
 Trademark Rights All trademarks, trademark rights, service marks, service mark rights, trade dress, logos,
slogans, trade names, trade name rights, Internet domain names and subdomains (including all website content associated therewith), together with all translations, adaptations, derivations, and combinations thereof and including all goodwill
associated therewith, and all applications, registrations, and renewals in connection therewith. 
 Variable Change has
the meaning given to it in Schedule 2. 
  

	1.2.	In this Agreement, unless the context otherwise requires: 

  

	 	(a)	any recitals and schedules form part of this Agreement and references to this Agreement include them; 

 

	 	(b)	references to recitals, clauses and schedules are to recitals and clauses of, and schedules to, this Agreement and references in a schedule or part of a schedule to
paragraphs are to paragraphs of that schedule or that part of that schedule; 

  

	 	(c)	references to this Agreement or any other document are to this Agreement or that document as in force for the time being and as amended from time to time in accordance
with this Agreement or that document (as the case may be); 

  

	 	(d)	words importing a gender include every gender, references to the singular include the plural and vice versa and words denoting persons include individuals and bodies
corporate, partnerships, unincorporated associations and other bodies (in each case, wherever resident and for whatever purpose) and vice versa; and 

  

	 	(e)	 a reference to a statute, statutory provision or subordinate legislation (as so defined) shall be construed as including a reference to that statute,
provision or subordinate legislation as in 

  
 3 

	 	
force at the date of this Agreement and as from time to time modified or consolidated, superseded, re-enacted or replaced (whether with or without modification) after the date of this Agreement).

  

	 	1.3.	The headings and contents table in this Agreement are for convenience only and do not affect its interpretation. The schedules to this Agreement shall form part of this
Agreement. 

  

	 	1.4.	If there is a conflict or inconsistency between any clause of, and any schedule to, this Agreement the clause prevails. For this purpose an omission (whether deliberate
or inadvertent) is not, by itself, to be construed as giving rise to a conflict or inconsistency. 

  

	 	1.5.	In this Agreement the words “other”, “includes”, “including” and “in particular” do not limit the generality of any preceding
words and any words which follow them shall not be construed as being limited in scope to the same class as the preceding words where a wider construction is possible. 

 

	2.	Projects 

  

	2.1.	Elan and Prothena agree to undertake the Projects 

  

	3.	Services 

  

	3.1.	Prothena shall provide two FTE’s worth of effort per year in performance of the Prothena Services for the benefit of Elan and its Affiliates.

  

	3.2.	In respect of the Prothena Services, Prothena is appointed by Elan under this Agreement as the non-exclusive provider of the Prothena Services and nothing in this
Agreement prevents Elan or any of its Affiliates from acquiring the Prothena Services or services similar to the Prothena Services in any territory from any third party or from performing any such services for itself internally. Each Person who
performs the Prothena Services shall be an employee of Prothena (or an Affiliate thereof) under Applicable Law, and, at all times, shall perform the Prothena Services solely at the direction of such Person’s employer. 

 

	3.3.	Prothena shall develop the Project Plan for the applicable Project, which Project Plan shall include a reasonable timetable and shall be agreed in writing by the
parties. Prothena will deliver an appropriate draft Project Plan to Elan within one month of Elan’s request. 

  

	3.4.	Prothena shall perform all of its obligations under this Agreement, including the provision of the Prothena Services: 

 

	 	(a)	in accordance with any applicable Project Plan; 

  

	 	(b)	in accordance with Good Industry Practice; and 

  

	 	(c)	in compliance with all Applicable Laws. 

  

	3.5.	Prothena shall provide the Prothena Services in a timely manner and in accordance with any timetable identified in the applicable Project Plan. If at any time, Prothena
believes that any of its obligations will not, or are unlikely to, be met in accordance with the timetable in the Project Plan, it shall as soon as reasonably practical: 

 

	 	(a)	inform Elan in writing of the reasons for not meeting, or being unable to meet, the timetable in the Project Plan; 

 

	 	(b)	inform Elan in writing of the consequences of not meeting the timetable in the Project Plan; and 

 

	 	(c)	take all steps reasonably necessary, including all additional resources, to mitigate such failure and to ensure the timetable in the Project Plan is met as soon as
reasonably practical. 

  

	3.6.	 Where the Prothena Services require contracting with a third party (“Third Party Contract”), such Third Party Contract shall be
entered into between Elan and such third party and Prothena shall not be a party thereto. Invoices for a Third Party Contract shall be sent to and paid by Elan and Prothena shall have no responsibility with regard the charges incurred thereunder.
Elan shall be responsible for 

  
 4 

	 	
maintaining all data generated under such Third Party Contract. For the avoidance of doubt Prothena shall not be responsible for meeting its timetable in the Project Plan or the reporting
obligations at clause 3.5 where the Prothena Services require a Third Party Contract and Elan, without bona fide reason, unduly delays entering into a Third Party Contract 

 

	4.	Governance 

  

	4.1.	The parties shall each appoint a Project Manager to assume overall responsibility for their respective roles and obligations under this Agreement. The parties’
respective Project Managers will be responsible for: 

  

	 	(a)	co-ordinating all development work in respect of each Project, including overseeing the performance and quality of the Project and completion of any milestones;

  

	 	(b)	arranging and attending (personally or by representative), at each party’s own cost, management meetings as described in clause 4.5 and other meetings, at
intervals and locations as agreed between the parties from time to time, to discuss developments and seek to resolve any issues arising. The parties’ respective Project Managers shall use reasonable endeavours to resolve issues arising under
this Agreement, but shall refer all problems which are outside their ordinary authority to resolve to appropriate members of the parties’ respective senior management; 

 

	 	(c)	co-ordinating day to day liaison between the parties; 

  

	 	(d)	co-ordinating the preparation of the Final Reports; and 

  

	 	(e)	co-ordinating the identification of any Foreground Intellectual Property created or developed, or to be created or developed, in the course of any Project, prior to or
as soon as reasonably practicable following creation or development of the same in the course of any Project. 

  

	4.2.	Either party may replace its appointed Project Manager at any time on prior written notice to the other party. 

 

	4.3.	Each party shall permit the other’s Project Manager (and other duly authorised representatives) such access to its premises at which any Project is being conducted
as may be reasonably appropriate having regard to the nature and progress of such Project at any time. 

  

	4.4.	On completion of each Project, the parties shall jointly inspect and evaluate the work performed and shall jointly produce and sign a Final Report in respect of the
Project, incorporating such matters and details as may be agreed between the parties from time to time. 

  

	4.5.	The parties agree, at least once every 12 months during the term hereof, or at such other intervals, and at such locations, including by teleconference, as may be
agreed between them from time to time, to procure that their respective Project Managers meet (each such meeting a Management Meeting) to discuss and review the progress and status of any Project performed hereunder, and consider proposals
and agree actions in relation to the same with a view to ensuring the due and proper completion of all Projects in accordance with such dates and quality standards as may be agreed between the parties. Minutes of each management meeting are to be
prepared by Elan and agreed by both Project Managers. 

  

	5.	Payments 

  

	5.1.	As compensation for the Prothena Services to be provided hereunder, Elan (or an Affiliate nominated by them) shall pay Prothena the charges in the amount and in
accordance with Schedule 2 (the “Charges”). 

  

	5.2.	Unless otherwise stated (including in the relevant Schedules), Prothena shall invoice Elan (or an Affiliate nominated by them) monthly in arrears in respect of the
Charges and the Charges shall be due and payable in US Dollars within thirty (30) days after the receipt of such invoice. 

  

	5.3.	 Reasonable travel and expense costs shall be reimbursed by Elan (or an Affiliate nominated by them)

  
 5 

	 	
to any Prothena employee on the assigned Prothena Services (only if such persons home is based outside a 75 mile radius from the relevant Elan premises or designated work location, unless
otherwise negotiated and agreed in writing). 

  

	5.4.	Unless otherwise expressly stated between the parties, the Charges and other such amounts expressed to be payable by Elan under this Agreement shall constitute
Elan’s entire payment liability under this Agreement. 

  

	5.5.	All amounts stated to be payable under this Agreement are stated as exclusive of any VAT chargeable on them, which shall be paid by the paying party at the rate and in
the manner prescribed in law from time to time. 

  

	5.6.	If Elan (or an Affiliate nominated by them) receives an invoice from Prothena which it disputes in good faith, Elan shall notify Prothena in writing of such dispute as
soon as reasonably practicable and Elan may withhold payment of such sums as are in dispute pending resolution of such dispute. 

  

	5.7.	Each party shall be entitled to receive interest on any payment not made to it when properly due to it pursuant to the terms of this Agreement, calculated from day to
day at a rate per annum equal to 2% above the providing base rate of the European Central Bank and payable from the day after date on which payment was due up to and including the date of payment. 

 

	6.	Intellectual Property Rights and Publication: 

  

	6.1.	All Background Intellectual Property is and shall remain the exclusive property of the party owning it (or, where applicable, the third party from whom its right to use
the Background Intellectual Property has derived). 

  

	6.2.	Each party shall grant to the other party for the duration of this Agreement a non-exclusive, non transferable (without the right to sub-licence) licence to use its
Background Intellectual Property solely to the extent necessary for the other party to carry out its obligations under this Agreement. 

  

	6.3.	Unless otherwise provided all right, title and interest (including copyright and database right) in and to each party’s Data shall remain the absolute property of
that party at all times. 

  

	6.4.	With the exception of Foreground Intellectual Property (below), each party hereby assigns to the other party, all present and future right, title and interest being
capable of assignment it may acquire in and to any adaptations, amendments, variations and derivatives that it makes to the other party’s Background Intellectual Property or that have been created or developed by the other party or on its
behalf. 

  

	6.5.	If during the term of this Agreement Prothena (or its authorised sub-contractors) develop or create (whether with or without others and whether jointly with the other
party or not) any Foreground Intellectual Property, they shall promptly disclose any such Foreground Intellectual Property to Elan. 

  

	6.6.	Unless the parties otherwise agree in writing: 

  

	 	(a)	Elan Foreground Intellectual Property shall be owned by Elan, provided, however that Elan hereby grants Prothena a non-exclusive royalty free license to such Foreground
Intellectual Property Rights solely for research purposes. 

	 	(b)	Prothena Foreground IP shall be owned by Prothena, provided, however, that Prothena hereby grants Elan an exclusive royalty free licence solely for the research,
development and commercialization of ELND-005 and ELND-002, including the right to make, have made, use, offer for sale, sell, have sold, import and have imported ELND-005 and ELND-002. 

 

	6.7.	The Owning Party shall have sole responsibility for the filing, prosecution, maintenance and enforcement of its Foreground Intellectual Property. Upon Elan’s
request and at Elan’s expense, Prothena will undertake such actions as requested by Elan to secure for the benefit of Elan such Prothena Foreground IP as provided for by clause 6.6. 

 

	6.8	 Subject to the remainder of this clause 6.8, Elan shall, at its own expense, defend or at its option settle any action brought against Prothena which
consists of a claim that the use of Elan’s Background Intellectual Property or Foreground Intellectual Property within the scope of any activity contemplated 

  
 6 

	 	
under this Agreement infringes any Intellectual Property right belonging to a third party, and Elan agrees to be responsible for all and indemnify Prothena against all losses, costs (including
reasonable legal costs), damages, liabilities, claims and expenses suffered or incurred by Prothena in connection with any such claim. Elan’s obligations under this clause 6.8 shall be conditional on Prothena: 

 

	 	(a)	promptly notifying Elan of such claim; 

  

	 	(b)	giving Elan express authority to proceed as contemplated by this clause 6.8; and 

 

	 	(c)	providing Elan with all such available information and assistance as it may reasonably require in responding to such claim. 

 

	6.9	Elan agrees to reasonably consider Prothena’s request to publish results of the Prothena Services subject to the remaining obligations of this clause 6 and the
obligations of clause 7, and to provide the relevant Personnel with appropriate byline credit in any publication proposed by Elan according to generally accepted standards for authorship. 

 

	7.	Confidentiality 

  

	7.1.	The parties each undertake to keep confidential and not to disclose to any third party nor to use themselves other than for the purposes of the Projects or as permitted
under or in accordance with this Agreement (including for the purpose of enjoying the benefit of the rights and licences granted under clause 6) any confidential or secret information in any form directly or indirectly belonging or relating to the
other, its Affiliates, its or their business or affairs, disclosed by the one and received by the other pursuant to or in the course of this Agreement or any Project, including without limitation any Background Intellectual Property of the other or
Foreground Intellectual Property of the other, and the existence and terms of this Agreement (Confidential Information). 

  

	7.2.	Each of the parties undertakes to disclose Confidential Information of the other only to those of its officers, employees, agents and contractors, to whom and to the
extent to which, such disclosure is necessary for the purposes contemplated under this Agreement. 

  

	7.3.	The obligations contained in this clause 7 shall survive the expiry or termination of this Agreement for any a period of seven (7) years but shall not apply to any
Confidential Information which: 

  

	 	(a)	is publicly known at the time of disclosure to the receiving party; 

  

	 	(b)	after disclosure becomes publicly known otherwise than through a breach of this Agreement by the receiving party, its officers, employees, agents or contractors;

  

	 	(c)	can be proved by the receiving party to have reached its hands otherwise than by being communicated by the other party including being known to it prior to disclosure,
or having been developed by or for it wholly independently of the other party or having been obtained from a third party without any restriction on disclosure on such third party of which the recipient is aware, having made due enquiry; or

  

	 	(d)	is required by law, regulation or order of a competent authority (including any regulatory or governmental body or securities exchange) to be disclosed by the receiving
party, provided that, where practicable, the disclosing party is given reasonable advance notice of the intended disclosure. 

  

	8.	Warranties 

  

	 	(a)	Each party warrants that it has full power and authority to carry out the actions contemplated under this Agreement, and that its entry into and performance under the
terms of this Agreement will not infringe the rights of any third party or cause it to be in breach of any obligations to a third party. 

  

	 	(b)	Prothena warrants that it shall perform the Projects in a professional manner with reasonable skill and care, using suitably qualified personnel, and shall use
commercially reasonable endeavours to achieve the objectives of each Project; 

  
 7 

	 	(c)	Each party warrants that all information, data and materials provided by it to the other hereunder will be, to the best of its knowledge, accurate and complete in all
material respects, and it is entitled to provide the same to the other without recourse to any third party; 

  

	9.	Insurance 

  

	9.1.	Prothena will at all times during the term of this Agreement, maintain in force and effect at its own expense with a reputable insurance company, public and
employers’ liability insurance and professional indemnity insurance, each for a minimum level of cover of $2 million which shall remain in effect throughout this Agreement and for 6 years after termination subject to cover availability.

  

	10.	Dispute Resolution 

  

	10.1.	Where at any point during the Term of this Agreement any matter relating to this Agreement cannot be agreed by the Parties, it shall be escalated as follows:

  

	 	(a)	the matter shall be referred as soon as practicable to the Project Manager for resolution; and 

 

	 	(b)	if the matter has not been resolved within ten (10) Business Days (or such longer period as may be agreed in writing by the Parties) of being referred to the
Project Manager or if the Project Manager determines it is incapable of being resolved at that level, then the matter shall be immediately referred to the Chief Executive Officer of Prothena and the Chief Executive Officer of Elan; and

  

	 	(c)	if after the expiry of 30 Business Days from the time the matter in dispute was referred to the CEO of each of Elan and Prothena the matter remains unresolved, the
Parties shall refer the matter to non-binding mediation in accordance with the procedure set out in clause 21.3.1 of the Demerger Agreement. 

  

	 	(d)	in the event that:- 

  

	 	(1)	having been so requested, the mediation does not commence within 20 Business Days of the request for mediation; or 

 

	 	(2)	a binding settlement in writing is not reached within a period of 60 Business Days after the delivery of a written request for mediation; 

 

	 	(e)	and, in any such case, the dispute or difference referred to in this clause 10 remains unresolved, the Parties (or the relevant one of them) shall then be entitled to
instigate legal proceedings 

  

	10.2.	Any joint decision as to a resolution at any stage in the above process shall be recorded in writing and signed on behalf of each Party and shall be final and binding
on the Parties. 

  

	11.	Data Protection 

  

	11.1.	The parties shall at all times comply with the provisions of the Data Protection Law in their Processing of Personal Data including, without limitation, ensuring that
appropriate technical and organisational measures are taken against unauthorised or unlawful processing of the Personal Data and against accidental loss or destruction of, or damage to the Personal Data. 

 

	12.	Term and Termination 

  

	12.1.	This Agreement shall come into effect on the Effective Date and, subject to the remaining terms of this Agreement, shall continue in full force and effect for a period
of two (2) years unless the parties agree in writing to extend this Agreement. 

  

	12.2.	Either party (the first party) shall be entitled to terminate this Agreement at any time by notice in writing to the other (the other party) if:

  
 8 

	 	(a)	the other party is in material breach of this Agreement which breach is irremediable or, if remediable, is not remedied by the defaulting party within thirty
(30) days of being requested to do so by the other; 

  

	 	(b)	the other party is subject to an Insolvency Event; or 

  

	 	(c)	the other party is in breach of any of its confidentiality obligations under clause 7 

 

	12.3.	Termination in accordance with this clause 12 shall be without prejudice to the rights of the parties accrued at the date of termination. 

 

	12.4.	Upon termination of any licences hereunder in accordance with this Agreement each party shall forthwith destroy or, at the request of the other party, return all
information and materials belonging to the other party then in its or its contractors’ possession, custody or control, including all Confidential Information of the other party relating to such licences with the exception, in the case of the
Terminating Party, of such information and materials belonging to the Defaulting Party as shall be reasonably required by the Terminating Party to enjoy the benefit of any continuing licences to it hereunder, and shall not retain any copies of the
same except that either party may retain copies of information in its back up electronic systems. 

  13. Liability

  

	13.1.	Nothing in this Agreement shall limit the liability of either party for: 

  

	 	(a)	fraud or fraudulent misrepresentation; 

  

	 	(b)	for death or personal injury caused by its negligence or the negligence of its employees, contractors or agents; 

 

	 	(c)	any liability which cannot be excluded or limited by law. 

  

	13.2	Subject to Clause 13.1, no party shall be liable to another party for any indirect or consequential loss or damage even if foreseeable or if such party has been advised
of the possibility of such losses. 

  

	13.3	Subject to Clause 13.1, the total liability of either party arising under or in connection with this Agreement, whether in tort (including negligence), contract,
representation (other than fraudulent misrepresentations) or otherwise or for loss (whether direct, indirect or consequential) of business, profits, use, revenue, data, anticipated savings or goodwill shall be limited to USD$500,000.

  

	13.4	Prothena shall not be liable for any failure to provide, or for any delay in the provision of, any of the Prothena Services to the extent that such failure or delay is
directly caused or is contributed to directly by any failure of a third party service provider to provide an element of the Prothena Services. 

  

	14.	Personnel 

  

	14.1	Prothena shall appoint Personnel to perform the Prothena Services who shall have the experience and knowledge to provide the applicable Prothena Services in accordance
with Good Industry Practice. 

  

	14.2	If Elan reasonably determines at any time that a member of the Personnel is not suitable for involvement in the provision of the Prothena Services, it shall notify the
other party in writing detailing the reasons for its determination. Where, following any reasonable consultation between Elan and Prothena regarding the said notification, Elan and Prothena agree that the relevant member of the Personnel is not or
is no longer suitable for involvement in the provision of the Prothena Services, Prothena shall take or procure that reasonable steps are taken in accordance with its established human resources procedure and Applicable Law to remove the relevant
person from his or her position as a member of the Personnel as soon as reasonably practicable. In the event that Elan and Prothena do not agree that a relevant member of the Personnel is no longer suitable, then such matter shall be managed in
accordance with clause 10. 

  

	15.	Force Majeure 

  

	15.1.	Neither party shall be liable for any delay in performing or for failure to perform its obligations hereunder if the delay or failure results from any cause or
circumstance whatsoever beyond its reasonable control, including any breach or non-performance of this Agreement by the other party (hereinafter event of force majeure), provided the same arises without the fault or negligence of such party.
If an event of force majeure occurs, the date(s) for performance of the obligation affected shall be postponed for as long as is made necessary by the event of force majeure, provided that if any event of force majeure continues for a period of or
exceeding three (3) months, either party shall have the right to terminate this Agreement forthwith by written notice to the other party. Each party shall use its reasonable endeavours to minimise the effects of any event of force majeure.

  

	16.	Assignment 

 This
Agreement shall be binding upon and inure to the benefit of Prothena and Elan and their respective successors and permitted assigns. Neither party may assign all or any part of any benefit of or interest, right or licence in or arising under this
Agreement without the prior written consent of the other party, provided, however, that either party may, without prior notice or consent, assign this Agreement and/or the rights and obligations thereunder to an Affiliate or, in connection with the
transfer or sale of all or substantially all of its business related to the subject matter of this Agreement, or in the event of a change in control, merger, acquisition, consolidation or similar transaction, to a third party. Any purported
assignment or transfer in violation of this Clause 16 shall be void. 

  
 9 

	17.	Relationship between the parties 

  

	17.1.	Nothing in this Agreement is to be construed as establishing or implying any partnership or joint venture between the parties, or as appointing any party as the agent
or employee of any other party. No party shall hold out any other party as its partner or joint venturer. Except, and to the extent, that this Agreement expressly states otherwise, no party may incur any expenses or negotiate on behalf of any other
party or commit any other party in any way to any person without that other party’s prior written consent. 

  

	18.	Notices 

  All
notices to be given to a party under this Agreement shall be in writing in English detailed for the party below, and sent by overnight courier, first class prepaid post, or by other means of delivery requiring an acknowledged receipt. All notices
shall be effective upon receipt. 
  

	 	(a)	in the case of Elan: 

 Address: Treasury Building, Lower Grand Canal Street, Dublin 2, Ireland 
 Attention: Company Secretary 
  

	 	(b)	in the case of Prothena: 

 Address: [Note: Prothena to insert] 
 Attention:¿ 
  A party may change the details recorded for it in this clause by notice to
the other in accordance with this clause 18. 
  

	18.1.	A notice shall be treated as having been received: 

   

	 	(a)	if delivered by hand between 9.00 am and 5.00 pm on a Business Day (which time period is referred to in this clause as Business Hours), when so
delivered; and if delivered by hand outside Business Hours, at the next start of Business Hours; and 

  

	 	(b)	if sent by first class post, at 9.00 am on the second Business Day after posting if posted on a Business Day and at 9.00 am on the third Business Day after
posting if not posted on a Business Day. 

  

	18.2.	In proving that a notice has been given it shall be conclusive evidence to prove that delivery was made, or that the envelope containing the notice was properly
addressed and posted (as the case may be). 

  

	19.	Variation 

  No
variation of this Agreement shall be effective unless it is in writing and is signed by or on behalf of each of the parties. 
  

	20.	Waiver 

 Delay in
exercising, or failure to exercise, any right or remedy in connection with this Agreement shall not operate as a waiver of that right or remedy. The waiver of a right to require compliance with any provision of this Agreement in any instance shall
not operate as a waiver of any further exercise or enforcement of that right and the waiver of any breach shall not operate as a waiver of any subsequent breach. No waiver in connection with this Agreement shall, in any event, be effective unless it
is in writing, refers expressly to this clause, is duly signed by or on behalf of the party granting it and is communicated to the other party in accordance with clause 18 (Notices). 

 

	21.	Rights Cumulative 

The rights and remedies of the parties in connection with this Agreement are cumulative and, except as

  
 10 

 
expressly stated in this Agreement, are not exclusive of any other rights or remedies provided by law or equity or otherwise. Except as expressly stated in this Agreement (or at law or in equity
in the case or rights and remedies provided by law or equity) any right or remedy may be exercised (wholly or partially) from time to time. 
  

	22.	Severability 

  The
parties intend each provision of this Agreement to be severable and distinct from the others. If a provision of this Agreement is held to be illegal, invalid or unenforceable, in whole or in part, the parties intend that the legality, validity and
enforceability of the remainder of this Agreement shall not be affected. 
  

	23.	Entire Agreement 

  

	23.1	This Agreement (together with all other documents to be entered into pursuant to it) sets out the entire agreement and understanding between the parties, and supersedes
all proposals and prior agreements, arrangements and understandings between the parties, relating to its subject matter. 

  

	23.2	Each party acknowledges that in entering into this Agreement (and any other document to be entered into pursuant to it) it does not rely on any representation,
warranty, collateral contract or other assurance of any person (whether party to this Agreement or not) that is not set out in this Agreement or the documents referred to in it. Each party waives all rights and remedies which, but for this clause,
might otherwise be available to it in respect of any such representation, warranty, collateral contract or other assurance. The only remedy available to any party in respect of any representation, warranty, collateral contract or other assurance
that is set out in this Agreement (or any document referred to in it) is for breach of contract under the terms of this Agreement (or the relevant document). Nothing in this Agreement shall, however, limit or exclude any liability for fraud.

  

	24.	Survival 

Termination of this Agreement for any reason shall not affect any rights or liabilities that have accrued prior to termination or the
coming into force or continuance in force of any term that is expressly or by implication intended to come into or continue in force on or after termination. 
  

	25.	Further Assurances 

Each party shall do and execute, or arrange for the doing and executing of, any other act and document reasonably requested of it by any
other party to implement and give full effect to the terms of this Agreement. 
  

	26.	Governing Law and Jurisdiction 

  This Agreement and any non-contractual obligations arising out of or in relation to this Agreement shall be governed by and construed in accordance with Irish law. The parties to this Agreement
irrevocably agree that the courts of Ireland are to have non-exclusive jurisdiction to settle any questions or disputes which may arise out of or in connection with this Agreement. 

  
 11 

 This Agreement has been entered into on the date stated at the beginning of this Agreement. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first set forth above. 

 

									
	ELAN CORPORATION PLC	 	PROTHENA CORPORATION PLC
					
	By:	 	 	 		 	By:	 	 
		 	Name:	 		 		 	Name:
		 	Title:	 		 		 	Title:

  
 12 

 SCHEDULE 1 
 Prothena Services 
 A.    Support for ELND-005 and ELND-002
programs 
  

	 	(1)	Expert advice and opinion in the areas of nonclinical safety/toxicology and pharmacology 

 

	 	a.	Attendance in project team meetings 

  

	 	b.	Leadership of a nonclinical subteam 

 i. Development and proposal of nonclinical plans 
  

	 	(2)	Representation/presentations of nonclinical areas at external meetings (regulatory/investigator/KOL/investor/scientific) 

 

	 	(3)	Regulatory support for nonclinical sections of pertinent documents 

  

	 	a.	IND filings and updates 

  

	 	b.	IB preparation and updates 

  

	 	c.	Regulatory briefing packages 

  

	 	d.	NDA filings 

  

	 	e.	Ex-US filings 

  

	 	(4)	Conducting and interpreting externally conducted nonclinical studies (GLP and non-GLP) 

 

	 	a.	Assistance in patent filing based on nonclinical results 

  

	 	(5)	Inspection or audit readiness activities 

  

	 	(6)	Timely response to regulatory and/or investigator questions 

  

	 	(7)	Identification and maintenance of nonclinical expert advisors as needed 

  
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 SCHEDULE 2 
 Charges 
 1.1 The Charges will comprise: 

1.1.1. a fixed charge at a rate of USD$250,000 per annum (“Fixed Charge”) per the equivalent of one employee working full time
(“Full Time Equivalent” or “FTE”) allocated by Prothena to the provision of the Prothena Services. In accordance with clause 3.1 of this Agreement, Prothena will allocate two FTE’s during the Term to support the
provision of the Prothena Services. Elan will pay Prothena the Fixed Charge per FTE for each full year of the Term so that the total Fixed Charge for each year of the Term will be USD$500,000. 

1.1.2 a variable charge at a rate of USD $250,000 per annum (“Variable Charge”) per one FTE allocated by Prothena to the provision of
the Prothena Services, payable where the Fixed Charge has been exceeded for that year. The actual amount of the Variable Charge payable will be calculated pro rata based on the number of days spent providing the Prothena Services. For the avoidance
of doubt, Elan shall only be liable to pay a Variable Charge if the Fixed Charge of $500,000 per annum payable in accordance with clause 1.1.1 of this Schedule, has been exhausted in full in respect of that year. 

1.1.3 Research costs (“Research Costs”) which shall comprise the other reasonable direct overhead costs to Prothena of performing the
Prothena Services including direct materials and other relevant overheads 
 1.1.4 a mark-up of 10% (“Mark-Up”) as applied to
the Fixed Charge, the Variable Charge (if any) and Research Costs, such that the Fixed Charge, the Variable Charge (if any), Research Costs and Mark-Up, collectively, shall reflect an arm’s length cost-plus standard. 

2. 1 Prothena will maintain a range of cost codes (or cost centres) in its books for the purpose of recording the Research Costs. 

2.2. At the end of each calendar month, Prothena shall provide Elan with a report detailing the services provided, and the categories and line items
under which the Charges have been accrued, in respect of that monthly period (the “Monthly Report”). 
 3. Prothena shall issue
an invoice for the agreed Charges, detailing the amount due in respect of the Prothena Services respectively for the relevant period. 
 4. All
Charges shall be subject to increase or decrease (by way of reconciliation in subsequent invoices) to the extent such increases or decreases are provided for by this Schedule 2. 
 5. Any disputes in relation to the Charges shall be dealt with in accordance with Clause 10 of this Agreement. 
 The following is an illustration of how the Charges will be calculated: 
  

			
	 Charge
	  	cost per month USD$
	 Fixed Charge for 2 FTE
	  	41,667
	 Research Costs
	  	2,000
	 Mark up of 10%
	  	4,368
	 Total Cost
	  	48,038

  
 14

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