December
1, 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 Nine Month Period From December 1,
      2010 Through August 31, 2011

            


    

    


    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 nine month term,
effective December 1, 2010 through August 31, 2011, 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 13, effective September 1, 2010,
to the amended Revised Budget for Year 13 , attached hereto, effective December
1, 2010 through August 31, 2010.  The Amended Revised Budget for Year
13 supercedes and replaces the Revised Budget for Year 13 of the Agreement for
all work commencing on or after December 1, 2010.

    


    
      
        	
                Very
      truly yours,

              
	 
      
	
                Leslie
      J. Browne

              
	
                President

              
	
                Senesco,
      Inc.

              


      

    

    
      
        
          
            	
                    Agreed
      and Accepted:

                  	 
      
	 
      	 
      
	 
      	 
      
	
                    University
      of Waterloo

                  	 
      
	 
      	 
      
	 
      	 
      
	
                    Dr.
      John Thompson, Ph.D.

                  	 
      


          

        

      

    


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    
      REVISED
BUDGET

    

    
      YEAR
13

    

    


    
      PERIOD:
       December
1, 2010 – February 28, 2011

    

    


    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      Salaries

                                    	 	
                                      Cdn $/Month

                                    	 	 	
                                      Cdn $/3 Months

                                    	 
	 
      	 	 	 	 	 	 
	
                                      Senior
      Research Associate

                                    	 	$	8,625.00	 	 	$	25,875.00	 
	
                                      ($90,000/year
      + 15% benefits)

                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                      Senior
      Research Associate

                                    	 	 	6,708.33	 	 	 	20,125.00	 
	
                                      ($70,000/year
      + 15% benefits)

                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                      Research
      Associate

                                    	 	 	4,791.67	 	 	 	14,375.00	 
	
                                      ($50,000/year
      + 15% benefits)

                                    	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                                      Research
      Associate

                                    	 	 	4,791.67	 	 	 	14,375.00	 
	
                                      ($50,000/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

                                    	 	 	42,583.34	 	 	 	127,750.00	 
	 
      	 	 	 	 	 	 	 	 
	
                                      Overhead

                                    	 	 	 	 	 	 	 	 
	
                                      30%
      on total direct costs

                                    	 	 	12,775.00	 	 	 	38,325.00	 
	 
      	 	 	 	 	 	 	 	 
	
                                      TOTAL
      BUDGET

                                    	 	$	55,358.34	 	 	$	166,075.00	 


                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    
      REVISED
BUDGET

    

    
      YEAR
13

    

    


    
      PERIOD:
      March
1, 2011 – August 31, 2011

    

    


    
      
        
          
            
              
                
                  
                    
                      	
                              Salaries

                            	 	
                              Cdn $/Month

                            	 	 	
                              Cdn $/6 Months

                            	 
	 
      	 	 	 	 	 	 
	
                              Senior
      Research Associate

                            	 	$	8,625.00	 	 	$	51,750.00	 
	
                              ($90,000/year
      + 15% benefits)

                            	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                              Senior
      Research Associate

                            	 	 	2,395.83	 	 	 	14,375.00	 
	
                              ($25,000/year
      + 15% benefits)

                            	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                              Research
      Associate

                            	 	 	4,791.67	 	 	 	28,750.00	 
	
                              ($50,000/year
      + 15% benefits)

                            	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                              Research
      Associate

                            	 	 	4,791.67	 	 	 	28,750.00	 
	
                              ($50,000/year
      + 15% benefits)

                            	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                              Research
      Associate

                            	 	 	3,833.33	 	 	 	23,000.00	 
	
                              ($40,000/year
      + 15% benefits)

                            	 	 	 	 	 	 	 	 
	 
      	 	 	 	 	 	 	 	 
	
                              Supplies

                            	 	 	 	 	 	 	 	 
	
                              Operating
      Expenses

                            	 	 	10,000.00	 	 	 	60,000.00	 
	 
      	 	 	 	 	 	 	 	 
	
                              Subtotal

                            	 	 	34,437.50	 	 	 	206,625.00	 
	 
      	 	 	 	 	 	 	 	 
	
                              Overhead

                            	 	 	 	 	 	 	 	 
	
                              30%
      on total direct costs

                            	 	 	10,331.25	 	 	 	61,987.50	 
	 
      	 	 	 	 	 	 	 	 
	
                              TOTAL
      BUDGET

                            	 	$	44,768,75	 	 	$	268,612.50