**Exhibit 10.28**

 

August 25,2008

 

Ms. Judy Brown, Contracts Manager

Office of Research

University of Waterloo

200 University Avenue West

Waterloo, Ontario, Canada N2L 3G1

 

Re:          Amendmentto Extension and Amendment to Budget and Research Agreement between Waterloo,Thompson, and Senesco for a One Year Period From September 1, 2008 ThroughAugust 31, 2009

 

Dear Ms. Brown:

 

Pursuant to the ResearchAgreement 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 agreeto extend the Agreement for an additional one year term, effective September 1,2008 through August 31, 2009, under the same terms and conditions providedin the Agreement, except that the parties hereby amend the Budget set forth inthe Revised Budget for Year 10, effective September 1, 2007 to the amendedRevised Annual Budget for Year 11 , attached hereto, effective September 1,2008 through August 31, 2009.  The AmendedRevised Annual Budget for Year 11 supercedes and replaces the Revised Budgetfor Year 10 of the Agreement for all work commencing on or after September 1,2008.

 
|   | Very truly yours,   |
|--------|---------------------|
|   |                |
|   | /s/ Bruce C. Galton |
|   | Bruce C. Galton     |
|   | President           |
|   | Senesco, Inc.  |

 
| Agreed and Accepted:               |   |
|------------------------------------|--------|
|                               |   |
|                               |   |
| University  of Waterloo            |   |
|                               |   |
| /s/ Dr. John  Thompson, Ph.D. |   |
| Dr. John  Thompson, Ph.D.     |   |

 

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**REVISEDANNUAL BUDGET**

**YEAR11**

 

**PERIOD:****                                             September 1,2008 – August 31, 2009**

 
| **Salaries**                                     | ** ** | **Cdn $/Month** | ** **    | **Cdn $/12 Months** | ** ** |
|--------------------------------------------------|------------|----------------------|---------------|-------------------------------|------------|
|                                             |       |                 |          |                          |       |
| Senior Research Associate                        |       |                 |          |                          |       |
| ($84,000/year + 15% benefits)                    |       | $                    | 8,058.33      |                          | $          | 96,700.00 |   |
|                                             |       |                 |          |                          |       |
| Senior Research Associate                        |       |                 |          |                          |       |
| ($74,800/year + 15% benefits)                    |       | 7,166.67             |          | 86,000.00                     |       |
|                                             |       |                 |          |                          |       |
| Research Associate                               |       |                 |          |                          |       |
| (Partial salary and benefits – no overhead) |       | 4,166.66             |          | 50,000.00                     |       |
|                                             |       |                 |          |                          |       |
| Research Associate                               |       |                 |          |                          |       |
| ($42,000/year + 15% benefits)                    |       | 4,025.00             |          | 48,300.00                     |       |
|                                             |       |                 |          |                          |       |
| Research Associate                               |       |                 |          |                          |       |
| ($42,000/year + 15% benefits)                    |       | 4,025.00             |          | 48,300.00                     |       |
|                                             |       |                 |          |                          |       |
| Research Associate                               |       |                 |          |                          |       |
| ($42,000/year + 15% benefits)                    |       | 4,025.00             |          | 48,300.00                     |       |
|                                             |       |                 |          |                          |       |
| Research Associate                               |       |                 |          |                          |       |
| ($27,300/year + 15% benefits)                    |       | 2,616.67             |          | 31,400.00                     |       |
|                                             |       |                 |          |                          |       |
| **Supplies**                                     | ** ** | ** **           | ** **    | ** **                    | ** ** |
| Operating Expenses                               |       | 14,000.00            |          | 168,000.00                    |       |
|                                             |       |                 |          |                          |       |
| **Overhead**                                     | ** ** | ** **           | ** **    | ** **                    | ** ** |
| 30% on total direct costs                        |       | 13,166.67            |          | 158,000.00                    |       |
|                                             |       |                 |          |                          |       |
| **TOTAL ANNUAL BUDGET**                          | ** ** | **$**                | **61,250.00** | ** **                    | **$**      | **735,000.00** | ** ** |

 

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