August
20, 2010

    


    Ms. Judy
Brown, Contracts Manager

    Office of
Research

    University
of Waterloo

    200
University Avenue West

    Waterloo,
Ontario, Canada N2L 3G1

    


    
      
        	
                Re:  

              	
                Amendment
      to Extension and Amendment to Budget and Research Agreement between
      Waterloo, Thompson, and Senesco for a Three Month Period From September 1,
      2010 Through November 30,
2010

              


      

    

    


    Dear Ms.
Brown:

    


    Pursuant
to the Research Agreement effective September 1, 1998 (the “Agreement”), copy
attached, between the University of Waterloo (“Waterloo”), Dr. John E. Thompson
(“Thompson”), and Senesco, Inc. (“Senesco”), Waterloo, Thompson and Senesco
hereby agree to extend the Agreement for an additional three month term,
effective September 1, 2010 through November 30, 2010, under the same terms and
conditions provided in the Agreement, except that the parties hereby amend the
Budget set forth in the Revised Budget for Year 12, effective September 1, 2009,
to the amended Revised Budget for Year 13 , attached hereto, effective September
1, 2010 through November 30, 2010.  The Amended Revised Budget for
Year 13 supercedes and replaces the Revised Budget for Year 12 of the Agreement
for all work commencing on or after September 1, 2010.

    


    
      
        
          	 
      	
                  Very
      truly yours,

                
	  
      	  
      
	 
      	/s/
      Leslie
      J. Browne
	 
      	
                  Leslie
      J. Browne

                
	 
      	
                  President

                
	 
      	
                  Senesco,
      Inc.

                


        

      

    

    


    
      
        
          
            
              	
                      Agreed
      and Accepted:

                    	 
      
	 
      	 
      
	/s/
      University
      of Waterloo	 
      
	
                      University
      of Waterloo

                    	 
      
	 
      	 
      
	/s/
      Dr.
      John Thompson, Ph.D.  	 
      
	
                      Dr.
      John Thompson, Ph.D.

                    	 
      


            

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      REVISED
BUDGET

    

    
      YEAR
13

    

    



    
      PERIOD:
September
1, 2010 – November 30, 2010

    

    


    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	
                                                      Salaries

                                                    	  	
                                                      Cdn $/Month

                                                    	  	  	
                                                      Cdn $/3 Months

                                                    	  
	 
      	 	 	 	 	 	 
	
                                                      Senior
      Research Associate

                                                    	 	$	8,145.83	 	 	$	24,437.00	 
	
                                                      ($85,000/year
      + 15% benefits)

                                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Senior
      Research Associate

                                                    	 	 	7,666.67	 	 	 	23,000.00	 
	
                                                      ($80,000/year
      + 15% benefits)

                                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Research
      Associate

                                                    	 	 	4,312.50	 	 	 	12,938.00	 
	
                                                      ($45,000/year
      + 15% benefits)

                                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Research
      Associate

                                                    	 	 	4,312.50	 	 	 	12,938.00	 
	
                                                      ($45,000/year
      + 15% benefits)

                                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Research
      Associate

                                                    	 	 	3,833,33	 	 	 	11,500.00	 
	
                                                      ($40,000/year
      + 15% benefits)

                                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Research
      Associate

                                                    	 	 	1,916,67	 	 	 	5,750.00	 
	
                                                      ($20,000/year
      + 15% benefits)

                                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Research
      Associate

                                                    	 	 	1,916,67	 	 	 	5,750.00	 
	
                                                      ($20,000/year
      + 15% benefits)

                                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Supplies

                                                    	 	 	 	 	 	 	 	 
	
                                                      Operating
      Expenses

                                                    	 	 	10,000.00	 	 	 	30,000.00	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Subtotal

                                                    	 	 	42,104.17	 	 	 	126,313.00	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      Overhead

                                                    	 	 	 	 	 	 	 	 
	
                                                      30%
      on total direct costs

                                                    	 	 	12,631,25	 	 	 	37,894.00	 
	 
      	 	 	 	 	 	 	 	 
	
                                                      TOTAL
      BUDGET

                                                    	 	$	54,735,42	 	 	$	164,207.00