Document:

Filed by sedaredgar.com - Anavex Life Sciences Corp. - Exhibit 10.1

Exhibit 10.1 

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

NONE OF THE SECURITIES REPRESENTED HEREBY NOR THE SECURITIES
INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE 1933
ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE
OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED
HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF
REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A
TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN
EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
HEDGING TRANSACTIONS INVOLVING THIS SECURITY AND THE SECURITIES INTO WHICH THIS
SECURITY IS CONVERTIBLE MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933
ACT. "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED BY REGULATION S UNDER THE
1933 ACT. 

Issue Date: __________, 2009 

Conversion Price (subject to adjustment herein):
$2.50 per Unit 

Principle Amount: US$__________

0% CONVERTIBLE LOAN 

FOR VALUE RECEIVED, ANAVEX LIFE SCIENCES CORP., (the “
Company ”) promises to pay to _______________ or its registered
assigns (the “ Holder ”), the principal sum of One Million, Six Hundred
and Sixty-nine Thousand, Four Hundred and Eighteen Dollars ($__________) in
lawful currency of the United States (the “Principal Amount” ) on demand
provided, however, that, except in the event of a default hereunder, demand for
repayment shall not be made on or before a date that is one (1) year after the
Issue Date or such earlier date as the Convertible Loan may be permitted to be
repaid as provided hereunder (the “ Maturity Date ”), and to pay interest
to the Holder on the aggregate unconverted and then outstanding principal amount
of this Convertible Loan at the rate of 0% per annum, payable on the earlier of
(i) the Conversion Date (as hereafter defined) (and subject in any event to the
terms of Section 3, below) and (ii) the Maturity Date. Interest shall be
calculated on the basis of a 360-day year and shall accrue daily commencing on
the Issue Date until payment in full of the Principal Amount, together with all
accrued and unpaid interest and other amounts which may become due hereunder,
has been made. Interest shall cease to accrue with respect to any part of the
Principal Amount converted, provided that the Company in fact delivers the
Units, comprising one Common Share and one Warrant (each as defined below)
within the time period required by Section 3.3. Interest hereunder will be paid
to the Person in whose name this Convertible Loan is registered on the records
of the Company regarding registration and transfers of Convertible Loans. 

The Company may prepay any portion of the principal amount
of this Convertible Loan without the prior written consent of the Holder by
giving the Holder at least ten (10) Business Days written notice. Any prepayment
is subject to a preemptive right of Holder to convert the prepayment amount per
the terms of Section 3. 

This Convertible Loan is part of an offering in which all
Holders of such Convertible Loans are equal as to all rights and the amounts
owing to each will be treated pari passu.

Each Unit consists of one common share in the capital of the
Company (a “Common Share”) and one common share purchase warrant
(“Warrant”) exercisable at $3.00 (subject to adjustment) for a period of
two years from the Conversion Date (as hereafter defined). The form of Warrant
Agreement and Certificate will be the form delivered by the Company on the
Conversion Date.

This Convertible Loan is subject to the following additional
provisions: 

	1. 	
      Subscription Agreement

	 	 	 	 
		(a) 	
      This Convertible Loan has been issued pursuant to a
      subscription agreement between the Company and the Holder dated
      __________, 2009 (the “ Subscription Agreement ”) pursuant
      to which the Holder purchased this Convertible Loan, and this Convertible
      Loan is subject in all respects to the terms of the Subscription Agreement
      and incorporates the terms of the Subscription Agreement to the extent
      that they do not conflict with the terms of this Convertible Loan. This
      Convertible Loan is not transferable and may be exchanged or converted
      only in compliance with the terms hereof, the terms of the Subscription
    Agreement and applicable securities laws and regulations.

	 	 	 	 
	2. 	
      Events of Default

	 	 	 	 
		(a) 	
      “Event of Default”, wherever used herein, means
      any one of the following events (whatever the reason and whether it shall
      be voluntary or involuntary or effected by operation of law or pursuant to
      any judgment, decree or order of any court, or any order, rule or
      regulation of any administrative or governmental body):

	 	 	 	 
			(i) 	
      any default in the payment of (A) the Principal Amount,
      or (B) interest on, or liquidated damages in respect of, this Convertible
      Loan, in each case free of any claim of subordination, as and when the
      same shall become due and payable (whether on a Conversion Date or the
      Maturity Date or by acceleration or otherwise) which default, solely in
      the case of an interest payment or other default under item (B) above, is
      not cured within 10 Trading Days (as defined in Section 5.1(j), below)
      after notice of such default is sent by the Holder to the
  Company;

	 	 	 	 
			(ii) 	
      the Company shall fail to observe or perform any other
      covenant or agreement contained in this Convertible Loan or the
      Subscription Agreement [other than a breach by the Company of its
      obligations to deliver Units to the Holder upon conversion which breach is
      addressed in Section 2.1(e) below] which failure is not cured, if possible
      to cure, within 10 calendar days after notice of such default is sent by
      the Holder to the Company;

	 	 	 	 
			(iii) 	
      the Company or any of its subsidiaries (each a “
      Subsidiary ”) shall commence, or there shall be commenced against
      the Company or any Subsidiary a case under any applicable bankruptcy or
      insolvency laws as now or hereafter in effect or any successor thereto, or
      the Company or any Subsidiary commences any other proceeding under any
      reorganization, arrangement, adjustment of debt, relief of debtors,
      dissolution, insolvency or liquidation or similar law of any jurisdiction
      whether now or hereafter in effect relating to the Company or any
      Subsidiary or there is commenced against the Company or any Subsidiary any
      such bankruptcy, insolvency or other proceeding which remains undismissed
      for a period of 60 days; or the Company or any Subsidiary is adjudicated
      insolvent or bankrupt; or any order of relief or other order approving any
      such case or proceeding is entered; or the Company or any Subsidiary
      suffers any appointment of any custodian or the like for it or any
      substantial part of its property which continues undischarged or unstayed
      for a period of 60 days; or the Company or any Subsidiary makes a general
      assignment for the benefit of creditors; or the Company shall fail to pay,
      or shall state that it is unable to pay, or shall be unable to pay, its
      debts generally as they become due; or the Company or any Subsidiary shall
      call a meeting of its creditors with a view to arranging a composition,
      adjustment or restructuring of its debts; or the
Company

	 		
      or any Subsidiary shall by any act or failure to act
      expressly indicate its consent to, approval of or acquiescence in any of
      the foregoing; or any corporate or other action is taken by the Company or
      any Subsidiary for the purpose of effecting any of the
foregoing;

	 	 	 
	 	(iv) 	
      the Common Stock shall not be eligible for quotation on
      or quoted for trading on its principal trading market and shall not again
      be eligible for and quoted or listed for trading thereon within five
      Trading Days;

	 	 	 
	 	(v) 	
      the Company shall fail for any reason to deliver
      certificates to the Holder prior to the tenth Trading Day after a
      Conversion Date pursuant to and in accordance with Section 3.3 or the
      Company shall provide notice to the Holder, including by way of public
      announcement, at any time, of its intention not to comply with any request
      for conversion of this Convertible Loan in accordance with the terms
      hereof; or

	 	(b) 	
      If any Event of Default occurs, the full Principal
      Amount, together with interest and other amounts owing in respect thereof
      to the date of acceleration shall become, at the Holder’s election,
      immediately due and payable in cash. Commencing 5 days after the
      occurrence of any Event of Default that results in the eventual
      acceleration of this Convertible Loan, the interest rate on this
      Convertible Loan shall accrue at the rate of 20% per annum, or such lower
      maximum amount of interest permitted to be charged under applicable law.
      Upon payment of the full Principal Amount, together with interest and
      other amounts owing in respect thereof, in accordance herewith, this
      Convertible Loan shall promptly be surrendered to or as directed by the
      Company. The Holder need not provide and the Company hereby waives any
      presentment, demand, protest or other notice of any kind, and the Holder
      may immediately and without expiration of any grace period enforce any and
      all of its rights and remedies hereunder and all other remedies available
      to it under applicable law. Such declaration may be rescinded and annulled
      by the Holder at any time prior to payment hereunder and the Holder shall
      have all rights as a Convertible Loan holder until such time, if any, as
      the full payment under this Section shall have been received by it. No
      such rescission or annulment shall affect any subsequent Event of Default
      or impair any right consequent thereon.

THE OBLIGATIONS UNDER THIS CONVERTIBLE LOAN AGREEMENT ARE
UNSECURED AGAINST THE ASSETS OF THE COMPANY AND THEREFORE OTHER CHARGES MAY HAVE
PRIORITY AGAINST THE COMPANY’S ASSETS BEFORE THE HOLDER OF THIS CONVERTIBLE
LOAN. THERE IS NO GUARANTEE THAT THE COMPANY WILL HAVE SUFFICIENT ASSETS UPON AN
EVENT OF DEFAULT TO PAY THE HOLDER WHAT IS OWED. 

	3. 	
      Conversion

	 	 	 
		(a) 	
      At any time after the Issue Date until this Convertible
      Loan is no longer outstanding, this Convertible Loan may be converted into
      Units at the option of the Holder, in whole or in part at any time and
      from time to time. The Holder shall effect conversions by delivering to
      the Company the form of Notice of Conversion attached hereto as Annex A (a
      “Notice of Conversion”), specifying therein the principal amount to
      be converted. The date on which such conversion is to be effected (a
      “Conversion Date”) shall be the date that is ten (10) Business Days
      following delivery of the Notice of Conversion to the Company. To effect
      conversions hereunder, the Holder shall not be required to physically
      surrender the Convertible Loan to the Company unless the entire principal
      amount of this Convertible Loan plus all accrued and unpaid interest
      thereon has been so converted. Conversions hereunder shall have the effect
      of lowering the outstanding principal amount of this Convertible Loan in
      an amount equal to the applicable conversion. The Holder and the Company
      shall maintain records showing the principal amount converted and the date
      of such conversions. The Company shall deliver any objection to any Notice
      of Conversion within five (5) Business Days of receipt of such notice. The
      Holder, by acceptance of this Convertible Loan, acknowledges and agrees
      that, by reason of the provisions of this
paragraph,

	 		
      following conversion of a portion of this Convertible
      Loan, the unpaid and unconverted principal amount of this Convertible Loan
      may be less than the amount stated on the face hereof.

	 	 	 
	 	(b) 	
      The number of Units issuable upon a conversion shall be
      determined by the quotient obtained by dividing (x) by (y)
      where (x) shall be equal to the outstanding principal amount of
      this Convertible Loan to be converted plus the amount of interest that has
      accrued thereon, and (y) is equal to the Conversion Price, as
      adjusted pursuant to this Convertible Loan.

	 	 	 
	 	(c) 	
      Not later than ten Trading Days after any Conversion
      Date, the Company will deliver to the Holder a certificate or
      certificates, which shall bear such restrictive legends required by the
      Subscription Agreement, representing the number of Units being acquired
      upon the conversion, including the conversion of accrued and unpaid
      interest through the Conversion Date.

	 	 	 
	 	(d) 	
      The conversion price in effect on any Conversion Date
      shall be equal to U.S. $2.50 (subject to adjustment herein).

	 	 	 
	 	(e) 	
      If the Company or any subsidiary thereof, as applicable,
      at any time while this Convertible Loan is outstanding, shall sell or
      grant any option to purchase any Common Stock entitling any person to
      acquire shares of Common Stock (other than exercise of rights to acquire
      securities that were issued prior to the date of this Convertible Loan),
      at an effective price per share less than the Conversion Price (a
      “Dilutive Issuance” ), as adjusted hereunder, then the Conversion
      Price shall be reduced to equal the effective purchase price, conversion
      price or exercise price for such Common Stock at issue. Such adjustment
      shall be made whenever such Common Stock or Common Stock Equivalents are
      issued. In such case the Unit price will be reduced to equal the effective
      purchase price, conversion price or exercise price of the Dilutive
      Issuance and the Warrant exercise price will be adjusted to equal the
      Dilutive Issuance price plus 20%. The Company shall notify the Holder in
      writing, no later than the Business Day following the issuance of any
      Common Stock subject to this section, indicating therein the applicable
      price and other pricing terms. Notwithstanding the foregoing, the
      conversion of any instrument issued by the Company prior to the Issue Date
      of this Convertible Loan into Common Stock after the Issue date of this
      Convertible Loan, shall not constitute a Dilutive Issuance.

	 	 	 
	 	(f) 	
      If the Company, at any time while this Convertible Loan
      is outstanding: (A) shall pay a stock dividend or otherwise make a
      distribution or distributions in shares of its Common Stock or any other
      equity or equity equivalent securities payable in shares of Common Stock,
      (B) subdivide outstanding shares of Common Stock into a larger number of
      shares, (C) combine (including by way of reverse stock split) outstanding
      shares of Common Stock into a smaller number of shares, or (D) issue by
      reclassification of shares of the Common Stock any shares of capital stock
      of the Company, then the Conversion Price shall be multiplied by a
      fraction of which the numerator shall be the number of shares of Common
      Stock (excluding treasury shares, if any) outstanding before such event
      and of which the denominator shall be the number of shares of Common Stock
      outstanding after such event. Any adjustment made pursuant to this Section
      shall become effective immediately after the record date for the
      determination of stockholders entitled to receive such dividend or
      distribution and shall become effective immediately after the effective
      date in the case of a subdivision, combination or
  reclassification.

	 	 	 
	 	(g) 	
      The Company covenants that it will at all times reserve
      and keep available out of its authorized and unissued shares of Common
      Stock solely for the purpose of issuance upon conversion of the
      Convertible Loans, each as herein provided, free from preemptive rights or
      any other actual contingent purchase rights of Persons other than the
      Holder, not less than such number of shares of the Common Stock as shall
      (subject to any additional requirements of the Company as to reservation
      of such shares set forth in the Subscription Agreement) be issuable upon
      the conversion of the outstanding principal amount of the Convertible
      Loan. The Company covenants that all shares of Common Stock that shall be
      so issuable shall, upon issue, be duly and validly authorized, issued and
      fully paid and nonassessable.

	 	(h) 	
      Upon a conversion hereunder the Company shall not be
      required to issue stock certificates representing fractions of shares of
      the Common Stock, and the Holder shall be entitled to receive, in lieu of
      any final fraction of a share in excess of 0.50, one whole share of Common
      Stock.

	4. 	
      Notices

	 	 	 
		(a) 	
      Any and all notices or other communications or deliveries
      to be provided by the Holders hereunder, including, without limitation,
      any Notice of Conversion, shall be in writing and delivered personally, by
      facsimile or sent by a nationally recognized overnight courier service,
      addressed to the Company, at Anavex Life Sciences Corp., 27 Marathonos
      Ave, 15351 Athens, Greece, Fax: +30 2106034028, Attn: President, Harvey
      Lalach or such other address or facsimile number as the Company may
      specify for such purposes by notice to the Holder delivered in accordance
      with this Section. Any and all notices or other communications or
      deliveries to be provided by the Company hereunder shall be in writing and
      delivered personally, by facsimile, sent by a nationally recognized
      overnight courier service addressed to the Holder at the facsimile
      telephone number or address of such Holder appearing on the books of the
      Company, or if no such facsimile telephone number or address appears, at
      the principal place of business of the Holder. Any notice or other
      communication or deliveries hereunder shall be deemed given and effective
      on the earliest of (i) the date of transmission, if such notice or
      communication is delivered via facsimile at the facsimile telephone number
      specified in this Section prior to 5:30 p.m. (Pacific Standard Time), (ii)
      the date after the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile telephone number specified in
      this Section later than 5:30 p.m. (Pacific Standard Time) on any date and
      earlier than 11:59 p.m. (Pacific Standard Time) on such date, (iii) the
      second Business Day following the date of mailing, if sent by nationally
      recognized overnight courier service, or (iv) upon actual receipt by the
      party to whom such notice is required to be
given.

	5. 	
      Definitions

	 	 	 	 
		(a) 	
      For the purposes hereof, in addition to the terms defined
      elsewhere in this Convertible Loan: (i) capitalized terms not otherwise
      defined herein have the meanings given to such terms in the Subscription
      Agreement, and (ii) the following terms shall have the following
      meanings:

	 	 	 	 
			(i) 	
      “Business Day” means any day except Saturday,
      Sunday and any day which shall be a federal legal holiday in the United
      States or Canada or a day on which banking institutions in the State of
      New York or the Province of British Columbia are authorized or required by
      law or other government action to close.

	 	 	 	 
			(ii) 	
      “Commission” means the Securities and Exchange
      Commission.

	 	 	 	 
			(iii) 	
      “Common Stock” means the common stock, par value
      $0.001 per share, of the Company and stock of any other class into which
      such shares may hereafter have been reclassified or changed.

	 	 	 	 
			(iv) 	
      “Conversion Date” shall have the meaning set forth
      in Section 3.1 hereof.

	 	 	 	 
			(v) 	
      “Exchange Act” means the Securities Exchange Act
      of 1934, as amended.

	 	 	 	 
			(vi) 	
      “Issue Date” shall have the meaning shown on the
      first page of this Convertible Loan.

	 	 	 	 
			(vii) 	
      “Person” means a corporation, an association, a
      partnership, organization, a business, an individual, a government or
      political subdivision thereof or a governmental
agency.

	 	(viii) 	
      “Subscription Agreement” means the Securities
      Subscription Agreement, dated as of January 13, 2009, to which the Company
      and the Holder are parties, as amended, modified or supplemented from time
      to time in accordance with its terms.

	 	 	 
	 	(ix) 	
      “Securities Act” means the Securities Act of 1933,
      as amended, and the rules and regulations promulgated
thereunder.

	 	 	 
	 	(x) 	
      “Trading Day” means a day on which the shares of
      Common Stock are traded on a trading market on which the shares of Common
      Stock are then listed or quoted, provided , that in the event that the
      shares of Common Stock are not listed or quoted, then Trading Day shall
      mean a Business Day.

6.            
Miscellaneous 

Except as expressly provided herein, no provision of this
Convertible Loan shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the Principal Amount and interest on, this
Convertible Loan at the time, place, and rate, in United States currency, as
herein prescribed. This Convertible Loan is a direct debt obligation of the
Company. As long as this Convertible Loan is outstanding, the Company shall not
and shall cause it Subsidiaries not to, without the consent of the Holder, amend
its certificate of incorporation, bylaws or other charter documents so as to
materially and adversely affect any rights of the Holder. 

7.            
Replacement of Convertible Loan if lost or destroyed 

If this Convertible Loan shall be mutilated, lost, stolen or
destroyed, the Company shall execute and deliver, in exchange and substitution
for and upon cancellation of a mutilated Convertible Loan, or in lieu of or in
substitution for a lost, stolen or destroyed Convertible Loan, a new Convertible
Loan for the principal amount of this Convertible Loan so mutilated, lost,
stolen or destroyed but only upon receipt of evidence of such loss, theft or
destruction of such Convertible Loan, and of the ownership hereof, and
indemnity, if requested, all reasonably satisfactory to the Company. 

8.            
Other Indebtedness 

So long as any portion of this Convertible Loan is outstanding,
the Company will not and will not permit any Subsidiary or other affiliate to,
directly or indirectly, enter into, create, incur, assume or suffer to exist any
indebtedness or liens of any kind, on or with respect to any of its property or
assets now owned or hereafter acquired or any interest therein or any income or
profits therefrom that is senior to, or pari passu with, in any respect,
the Company’s obligations under this Convertible Loan without the prior consent
of the Holder, provided however that all Convertible Loans that are part of the
same offering will be pari passu with each other and equal in all
respects. . 

9.            
Governing Law 

All questions concerning the construction, validity,
enforcement and interpretation of this Convertible Loan shall be governed by and
construed and enforced in accordance with the internal laws of the State of
Nevada, without regard to the principles of conflicts of law thereof. 

10.           Waivers

Any waiver by the Company or the Holder of a breach of any
provision of this Convertible Loan shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other
provision of this Convertible Loan. The failure of the Company or the Holder to
insist upon strict adherence to any term of this Convertible Loan on one or more
occasions shall not be considered a waiver or deprive that party of the right
thereafter to insist upon strict adherence to that term or any other term of
this Convertible Loan. Any waiver must be in writing. 

11.          
Usury 

If any provision of this Convertible Loan is invalid, illegal
or unenforceable, the balance of this Convertible Loan shall remain in effect,
and if any provision is inapplicable to any Person or circumstance, it shall
nevertheless remain applicable to all other Persons and circumstances. If it
shall be found that any interest or other amount deemed interest due hereunder
violates applicable laws governing usury, the applicable rate of interest due
hereunder shall automatically be lowered to equal the maximum permitted rate of
interest. The Company covenants (to the extent that it may lawfully do so) that
it shall not at any time insist upon, plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay, extension or usury law or other
law which would prohibit or forgive the Company from paying all or any portion
of the principal of or interest on this Convertible Loan as contemplated herein,
wherever enacted, now or at any time hereafter in force, or which may affect the
covenants or the performance of this indenture, and the Company (to the extent
it may lawfully do so) hereby expressly waives all benefits or advantage of any
such law, and covenants that it will not, by resort to any such law, hinder,
delay or impeded the execution of any power herein granted to the Holder, but
will suffer and permit the execution of every such as though no such law has
been enacted. 

12.          
Next Business Day 

Whenever any payment or other obligation hereunder shall be due
on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day. 

 

IN WITNESS WHEREOF, the Company has caused this Convertible
Loan to be duly executed by a duly authorized officer as of the date first above
indicated. 

 

ANAVEX LIFE SCIENCES CORP. 

By:
________________________

ANNEX A 

NOTICE OF CONVERSION 

The undersigned hereby elects to convert principal and all
accrued and outstanding interest under the 0% Convertible Loan of Anavex Life
Sciences Corp., a Nevada corporation (the “ Company ”), issued on
__________, 2009, into shares ( “Shares” ) of common stock of the
Company, par value $0.001 per share (the “ Common Stock ”) as of the date
written below. 

Conversion calculations: 

Date to Effect Conversion: 

Principal Amount of Convertible Loans to be Converted: 

Amount of issued and outstanding interest: 

Number of Shares of Common Stock to be issued: 

Number of Warrants to be issued: 

Signature: 

 

Name: 

 

Address:Filed by sedaredgar.com - Anavex Life Sciences Corp. - Exhibit 10.2

Exhibit 10.2 

CONSULTING AGREEMENT

                         THIS
CONSULTING AGREEMENT (the “Agreement”) is made as of the 2nd day of
March, 2009 (the “Effective Date”), and is by and between Anavex Life Sciences
Corp. A Nevada State Corporation with an office at 27 Marathonos Ave. Pallini,
Greece (hereinafter “Company”), and Tariq Arshad, with an address at 25
Sussex Lane, East Windsor, NJ, USA (Hereinafter “Consultant”). 

W I T N E S S E T H:

                         WHEREAS
the Consultant has developed considerable expertise in the Field of Business
Development specific to biotech. 

                         WHEREAS
the Company wishes to engage the services of the Consultant to assist the
Company in identifying Business opportunities and Strategic Development. 

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

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

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

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

3.           Termination

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

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

- 2 - 

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

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

	 	a. 	
      Issue to the Consultant 5,000 Share purchase options
      subject to Schedule 1 as attached.

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

 

COMPANY: 

Anavex Life Sciences Corp. 

By: “Harvey Lalach” 

          Harvey
Lalach 
         
President

CONSULTANT: 

“Tariq Arshad” 

Tariq Arshad 

SCHEDULE 1 

STOCK OPTION AGREEMENT 

          This
Stock Option Agreement is made as of March 2, 2009 by and between Anavex Life
Sciences Corp. (the “Corporation”), and Tariq Arshad (the “Optionee”). 

RECITALS 

          A.
The Corporation and the Optionee have entered into a Consulting Agreement dated
as of March 2, 2009 (the “Consulting Agreement”) that provides for the grant of
stock options to the Optionee to purchase shares of the Corporation’s common
stock (the “Shares”). The stock options granted herein are being granted
pursuant to the Consulting Agreement.

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

AGREEMENT 

GRANT OF OPTIONS 

NUMBER OF SHARES. Subject to the terms and conditions of
this Agreement and the Consulting Agreement, the Corporation grants to Optionee,
Options to purchase from the Corporation five thousand (5,000) shares (the
“Option Shares”). 

          EXERCISE
PRICE. Each Option Share is exercisable at a price of US $2.50 per share (the
“Option Price”). 

          TERM.
The Expiration Date for all Options shall be March 2, 2014. 

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

          5,000
upon execution of the Agreement. 

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

EXERCISE OF OPTION

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

- 4 - 

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

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

NONTRANSFERABILITY 

          RESTRICTION.
The Options are not transferable by Optionee. 

NO RIGHTS AS SHAREHOLDER PRIOR TO EXERCISE

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

ADJUSTMENTS 

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

ADJUSTMENT TO OPTION SHARES. 

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

- 5 - 

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

Anavex Life Sciences Corp. 

“Harvey Lalach”

____________________________ 
Name: Harvey
Lalach 
Title: President 

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

OPTIONEE 

“Tariq Arshad”

____________________________ 
Tariq Arshad

- 6 - 

Anavex Life Sciences Corp. 

NOTICE OF EXERCISE OF STOCK OPTION 

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

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

 

__________________________________
Signature of Optionee

 

Date: _____________________________

 

 

 

 

 

By:_______________________________
     
Tariq Arshad

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]