On June 12, 2009, Neurobiological Technologies, Inc. (the "Company") and Buck Institute for Age Research, a California non-profit public benefit corporation (the "Buck Institute"), entered into a Termination Agreement (the "Termination Agreement"), pursuant to which the parties mutually agreed to terminate the Collaboration and License Agreements dated November 29, 2007 and February 29, 2008 (collectively the "Collaboration Agreements"), effective as of June 12, 2009. Under the terms of the Termination Agreement, the Company has agreed to pay to the Buck Institute the final installment totaling $116,666 due for the up-front payments under the Collaboration Agreements. As part of the termination of the Collaboration Agreements, the Company granted to the Buck Institute an exclusive, worldwide, perpetual license to the technology developed under the Collaboration Agreements, and has agreed that Buck Institute shall have the sole right to prosecute and maintain all patents under the Collaboration Agreements.

A complete copy of the Termination Agreement is filed herewith as Exhibit 10.1 and incorporated herein by reference. The foregoing description of the terms of the Termination Agreement is qualified in its entirety by reference to such exhibit.

(d) Exhibits

Exhibit No.      Description

10.1             Termination Agreement, dated as of June 12, 2009, between
                 Neurobiological Technologies, Inc. and Buck Institute for Age
                 Research.