Exhibit 10.37


 


August 1, 2004


 


Ms. Judy Brown, Contracts Manager

Office of Research

University of Waterloo

200 University Avenue West

Waterloo, Ontario, Canada N2L 3G1


 


Re:                               Extension and Amendment
to Budget and Research Agreement between Waterloo, Thompson, and Senesco for a
Two Year Period From September 1, 2004 Through August 31, 2006


 


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 two year term, effective September 1, 2004 through
August 31, 2006, 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 6, effective September 1, 2003 to the Revised
Annual Budget for Years 7 and 8, attached hereto, effective September 1,
2004 through August 31, 2006.  The
Revised Annual Budget for Years 7 and 8 supercedes and replaces the Revised
Budget for Year 6 of the Agreement for all work commencing on or after
September 1, 2004.


 


	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  /s/ Bruce C. Galton

  
	
   

  	
  Bruce C. Galton

  
	
   

  	
  President

  
	
   

  	
  Senesco, Inc.

  
	
   

  	
   

  
	
  Agreed and Accepted:

  	
   

  
	
   

  	
   

  
	
  /s/ Judy Brown

  	
   

  	
   

  
	
  University of Waterloo

  	
   

  
	
  by: Judy Brown, Contracts Manager

  	
   

  
	
   

  	
   

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

  	
   

  	
   

  
	
  Dr. John Thompson, Ph.D.

  	
   

  



 
















 


REVISED ANNUAL BUDGET


YEARS 7 AND 8


 


PERIOD:               September 1,
2004 – August 31, 2006


 


	
  Salaries

  	
   

  	
  Cdn $/Month

  	
   

  	
  Cdn $/12 Months

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Senior Research Associate

  	
   

  	
  $

  	
  7,043.75

  	
   

  	
  $

  	
  84,525.00

  	
   

  
	
  ($73,500/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Senior Research Associate

  	
   

  	
  6,540.63

  	
   

  	
  78,487.50

  	
   

  
	
  ($68,250/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Research Associate

  	
   

  	
  4,025.00

  	
   

  	
  48,300.00

  	
   

  
	
  ($42,000/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Research Associate

  	
   

  	
  4,025.00

  	
   

  	
  48,300.00

  	
   

  
	
  ($42,000/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Research Associate

  	
   

  	
  4,025.00

  	
   

  	
  48,300.00

  	
   

  
	
  ($42,000/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Research Associate

  	
   

  	
  4,025.00

  	
   

  	
  48,300.00

  	
   

  
	
  ($42,000/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Research Associate

  	
   

  	
  4,025.00

  	
   

  	
  48,300.00

  	
   

  
	
  ($42,000/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Research Associate

  	
   

  	
  3,521.87

  	
   

  	
  42,262.50

  	
   

  
	
  ($36,750/year + 15% benefits)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Part-Time Research Associate

  	
   

  	
  2,100.00

  	
   

  	
  25,200.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Graduate Student

  	
   

  	
  875.00

  	
   

  	
  10,500.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Graduate Student

  	
   

  	
  875.00

  	
   

  	
  10,500.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Graduate Student

  	
   

  	
  875.00

  	
   

  	
  10,500.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Supplies

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Operating Expenses

  	
   

  	
  3,937.50

  	
   

  	
  47,250.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Overhead

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40% on total direct costs

  	
   

  	
  17,307.50

  	
   

  	
  207,690.00

  	
   

  
	
  20% on graduate student

  	
   

  	
  525.00

  	
   

  	
  6,300.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL ANNUAL BUDGET

  	
   

  	
  $

  	
  63,726.25

  	
   

  	
  $

  	
  764,715.00