Document:

Exhibit
10.35

STANFORD GROUP
COMPANY

October 11, 2006

Senesco Technologies,
Inc.

303 George Street, Suite
420

New Brunswick, NJ
08901

Attention: Bruce
C. Galton, President & CEO

Financial Advisory
Agreement

Dear Mr. Galton:

This letter agreement (the “Agreement”) is to confirm
our understanding that Stanford Group Company (“Stanford Group”) is engaged by
Senesco Technologies, Inc., its successors, subsidiaries and affiliates
(collectively, the “Company”) on a
non-exclusive basis with respect to financial advisory, corporate finance,
strategic financing and strategic alliance matters for the thirty-six (36)
month period commencing the date hereof. This Agreement may be terminated (i)
by either party, without cause, upon sixty (60) days’ written notice of
termination to the other party; or (ii) by either party, if the other party
breaches any of its obligations under this Agreement and fails to remedy such
breach within ten (10) days after written notice of such breach is provided to
the other party. Upon the execution of this letter
by the Company, Stanford Group shall devote a commercially reasonable
amount of business, time and attention to matters on which the Company shall
request its services.

A.            Financial Advisory Services

During
the term of this agreement, Stanford Group shall provide the Company with such
regular and customary financial advisory services as are reasonably requested
by the Company, provided that Stanford
Group shall not be required to undertake duties not reasonably within the scope
of the financial advisory services in which it is generally engaged. In
performance of its duties, Stanford Group shall provide the Company with the
benefit of its judgment. It is understood and acknowledged by the parties
that the value of Stanford Group’s advice is not measurable in a quantitative manner and Stanford
Group shall be obligated to render
advice, upon the request of the Company, in good faith, as shall be
determined by Stanford Group, Stanford Group shall:

(a)          assist the Company in identifying its financing needs; help formulate a financing structure with
respect to what is usual and standard practice in financings for organizations
in similar circumstances;

(b)         introduce the Company to appropriate institutional and/or retail
investors for presentations; and

 

(c)          introduce the Company to such other corporations or individuals that
may be beneficial in advancing the Company’s research or business goals.

The Company acknowledges that Stanford Group and
its affiliates are in the business of providing financial advisory services (of all types contemplated by this agreement) to others. Nothing herein
contained shall be construed to limit or restrict Stanford Group or
its affiliates in conducting such business with respect to others or in rendering
such advice to others.

The Company recognizes and confirms that Stanford Group,
in acting pursuant to this engagement will be using information in reports and
other information provided by others, including, without limitation,
information provided by, or on behalf of the Company, and that Stanford Group
does not assume responsibility for, and may rely on, without independent
verification of, the accuracy and completeness of any such reports and
information. The Company hereby warrants that any information relating to the
Company that is furnished to Stanford Group by the Company will be fair,
accurate and complete and will not contain any material omissions or
misstatements of fact. The Company agrees that any information or advice
rendered by Stanford Group or its representatives in connection with this
engagement is for the confidential use of the Company’s Board of Directors only
in its evaluation of the matters for which Stanford Group has been engaged and,
except as otherwise required by law, the Company will not, and will not permit
any third party, to disclose or otherwise refer to such advice or information
in any manner without the prior written consent of Stanford Group.

B.            Presenting the Company

In addition to financial advisory services, the Company
has asked Stanford Group to assist the Company in making presentations to
institutional investors. In order to do so, Stanford Group shall help the
Company develop a schedule of meetings with mutually agreed upon institutional
investors. The Company agrees to bear all reasonable costs related to preparing
for, traveling to, and presenting the Company.

C.            Compensation

1.             Financial Advisory Services

In consideration of the above described financial advisory
services, the Company agrees to amend the warrants (the “Warrants”) that it has
issued to Stanford Group, Stanford Venture Capital Holdings, Inc. (“Stanford
Venture”), and/or Stanford International Bank, Ltd. (“Stanford International”,
and together with Stanford Group, Stanford Venture and any affiliates of
Stanford International, Stanford Group and Stanford Venture, “Stanford”) and
the following Stanford employees, Ronald Stein, Daniel Bogar, Osvaldo Pi, and
William Fusselmann (the “Stanford Employees”) (it should be noted that Stanford
transferred some of its warrants to the Stanford Employees), as follows:

 

(a)          warrants issued by the Company to Stanford and the Stanford Employees
at an exercise price of $3.25 shall be amended to an exercise price of $2.00;

(b)         warrants issued by the Company to Stanford and the Stanford Employees
at an exercise price of $2.00 shall be amended to an exercise price of $1.50;
and

(c)          the term of all warrants issued by the Company to Stanford and the
Stanford Employees shall be extended by three (3) years from the current
expiration date of such warrants.

Stanford Group shall be reimbursed for mutually agreed to
reasonable expenses incurred on behalf of the Company.  The Company shall bear all of its expenses in
connection with execution of the advisory services.

D.            No Conflict

Neither the execution and delivery of this letter by the Company nor the
consummation of the transactions contemplated hereby will, directly or
indirectly, with or without the giving of notice or lapse of time, or both: (i)
violate any provisions of the Certificate of Incorporation or By-Laws of the
Company; or (ii) violate, or be in conflict with, or constitute a default
under, any agreement, lease, mortgage, debt or obligation of the Company or
require the payment, any pre-payment or other penalty with respect thereto.

E.             Confidentiality

Whereas it is desirable and necessary to exchange
documents and information with respect to the business and research, plans,
etc. of the Company and the business of Stanford Group, the parties hereby shall and do subscribe to the
terms of confidentiality set forth in Schedule A attached hereto.

 

F.             Restrictive Covenants

(a)          Stanford Group shall conduct its business under its own name.  Stanford Group shall not use any trademarks
or tradenames of the Company in any manner, except as authorized in writing by
the Company or in connection with the use of literature supplied by the Company.  Stanford Group shall discontinue such usage
upon the termination of this Agreement.

(b)         All originals and photocopies or any other forms of records, computer
records and printouts, and any other material and/or equipment furnished to
and/or maintained by Stanford Group in connection with the performance of
services under this Agreement shall remain the property of the Company and shall
be returned to the Company upon demand or immediately upon termination of this
Agreement.

(c)          Stanford Group represents and warrants that its performance of all the
terms of this Agreement and its duties as an independent contractor will not
breach any invention assignment agreement, confidential information agreement,
non-competition agreement or other agreement or other obligation with any
present or former client or other party. Stanford Group further represents and
warrants that it has not and will not bring to the Company or use in the
performance of its duties for the Company any documents or materials of a
present or former client or other party that are not generally available to the
public.

G.            Compliance with Law

Each of the Company and
Stanford Group has not taken, and will not take, any action, directly or
indirectly, in connection with this Agreement, that is contrary to the U.S.
federal securities laws, or applicable state securities or “blue sky” laws, or
the applicable laws of foreign countries. Stanford Group further represents
that, pursuant to Section 15 of the Securities and Exchange Act of 1934, as
amended (the “1934 Act”), it is a registered broker or dealer as those terms
are defined under Section 3(a) of the 1934 Act.

H.            Prohibition on Use of “Inside Information”

Stanford
Group and the Stanford Employees shall not trade in, pass information along to
others, or make recommendations concerning the Company’s securities about which
it possess any material, non-public information.

I.              Lock-Up

During the term of this
Agreement, and with respect to the common stock (the “Common Stock”) of the
Company, Stanford will not sell, contract to sell, pledge, make any short sale
or make any other disposition of, or grant any purchase option for the sale of,
any shares of Common Stock owned directly by the undersigned or with respect to
which the undersigned has

 

beneficial ownership within the rules and regulations
of the Securities and Exchange Commission, without first obtaining the written
consent of the Company, except for (a) the transfer of shares of Common Stock
or other securities of the Company by the undersigned as a bona fide gift or
gifts; and (b) the transfer of shares of Common Stock or other securities of
the Company by the undersigned to its affiliates, as such term is defined under
the Securities Act of 1933, as amended (the “Securities Act”).  This Section I shall survive for twenty four
(24) months from the date of this Agreement, regardless of whether this
Agreement is terminated for any reason prior to such time; provided, however,
that the provisions of this Section I shall automatically be suspended for the
period of time when both of the following conditions are met:  (i) the shares of the Common Stock trade at
or above $5 per share, based upon the closing price, for a consecutive thirty
(30) day period, and (ii) the average trading volume of such shares is at least
300,000 shares for a consecutive thirty (30) day period; and, provided,
further, that this Section I shall again apply when the foregoing conditions
are no longer met.

J.             Registration Rights Agreement

Upon execution of
this Agreement, the parties hereto shall execute a Registration Rights
Agreement, in a form to be mutually agreed upon by both parties.

K.            General

This letter,
including the Schedules attached hereto, constitutes the entire understanding
of the parties with respect to the subject matter hereof and may not be altered
or amended except in a writing signed by both parties. This Agreement shall be
governed as to validity, interpretation, construction, effect and in all other
respects by the internal laws of the State of New Jersey. THE PARTIES HERETO
AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DOCUMENT OR AGREEMENT
CONTEMPLATED HEREBY.

 

If the foregoing
correctly sets forth the terms of our agreement, kindly so indicate by signing
and returning two copies of this letter. 
Upon delivery of your executed copies, this letter shall constitute a
binding agreement as of the date first above written.

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  SENESCO TECHNOLOGIES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Bruce C.
  Galton

  	
   

  
	
   

  	
  Name: Bruce C. Galton

  
	
   

  	
  Title: President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFORD
  GROUP:

  
	
   

  	
   

  
	
   

  	
  STANFORD GROUP
  COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFORD VENTURE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFORD VENTURE CAPITAL HOLDINGS, INC.

  
	
   

  	
  (as to Sections I and J only)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFORD INTERNATIONAL:

  
	
   

  	
   

  
	
   

  	
  STANFORD INTERNATIONAL BANK, LTD.

  
	
   

  	
  (as to Sections I and J only)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
									

 

 

 

	
  

  	
  STANFORD
  EMPLOYEES

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Ronald Stein

  	
   

  
	
   

  	
  RONALD STEIN (as to Section J only)

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Daniel Bogar 

  	
   

  
	
   

  	
  DANIEL BOGAR (as to Section J only)

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Osvaldo Pi 

  	
   

  
	
   

  	
  OSVALDO PI (as to Section J only)

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ William Fusselmann

  	
   

  
	
   

  	
  WILLIAM FUSSELMANN (as to Section J only)

  

 

 

SCHEDULE A

INFORMATION TO BE
SUPPLIED; CONFIDENTIALITY

In
connection with Stanford Group’s activities on behalf of the Company, the
Company will furnish Stanford Group with all financial and other information
regarding the Company that Stanford Group reasonably believes appropriate to
its assignment
(all such information so furnished by the Company, whether
furnished before or after the date of this
Agreement, being referred to herein as the “Information”). The Company
will provide Stanford Group with access to the officers, directors, employees, independent
accountants, legal counsel and other advisors and consultants of the Company.
The Company recognizes and agrees that Stanford Group (i) will use and rely
primarily on the Information and information available from generally
recognized public sources in performing the services contemplated by this
Agreement without independently verifying the Information or such other
information, (ii) does not assume responsibility for the accuracy of the
Information or such information, and (iii) will not make an appraisal of any
assets or liabilities owned or controlled by the Company or
its market competitors.

For the purpose of, the
Agreement, “Information” shall mean and include all contracts and agreements
and the terms there of, to which the Company may be a party; all internal
non-public business and financial information, analyses, forecasts and
projections of the business of the Company and any direct or
indirect operating subsidiary, all business plans of the Company and its
subsidiaries; all pending or proposed proposals for new or renewed contracts,
including responses by the Company to RFPs; the names, business and financial
arrangements with all indirectly relates to profitability of any contract to
which the Company is a party; the names and terms of employment relationships
between the Company and any of its operating subsidiaries with any employees;
all detail and back up information relating to actual, pro forma or forecasted
operations; and all data or information prepared by the Company at the request.

Stanford Group will
maintain the confidentiality of the Information and, unless and until such
information shall have been made publicly available by the Company or by others
without breach of a confidentiality agreement, shall disclose the information
only as authorized by the Company or as required by law or by order of a
governmental authority or court of competent jurisdiction. In the event that
Stanford Group is legally required to make disclosure of any of the Information, Stanford Group will give notice to the
Company prior to such disclosure, to the extent that Stanford Group can
practically do so.

The foregoing paragraph shall not apply to information
that:

 

(i)                                     at the time of disclosure by the Company is,
or thereafter becomes, generally available to the public or within the
industries in which the Company or Stanford Group or its affiliates conduct
business, other than as a direct result of a breach by Stanford Group of its
obligations wader this Agreement;

(ii)                                  prior to or at the time of disclosure by the
Company, was already it in the possession of, or, conceived by, Stanford Group
or any of its affiliates, or could have been developed by them from information
then in their possession, by the application of other information or techniques
in their possession, generally available to the public, or available to
Stanford Group or its affiliates other than from the Company;

(iii)                               at the time of disclosure by the Company or
thereafter, is obtained by Stanford Group or any of its affiliates from a third
party who Stanford Group reasonably believes to be in possession of the
information not in violation of any contractual, legal or fiduciary obligation
to the Company with respect to that information; or

(iv)                              is independently developed by Stanford Group
or its affiliates.

Nothing in this Agreement shall be construed to limit
the ability of Stanford Group or its affiliates to pursue, investigate,
analyze, invest in, or engage in investment banking, financial advisory or any
other business relationship with entities other than the Company,
notwithstanding that such entities may be engaged in a business which is
similar to or competitive with the business of the Company, and notwithstanding
that such entities may have actual or potential operations, products, services,
plans, ideas, customers or supplies similar or identical to the Company’s, or
may have been identified by the Company as potential merger or acquisition
targets or potential candidates for some other business combination,
cooperation or relationship. The Company expressly acknowledges and agrees that
it does not claim any proprietary interest in the identity of any other entity
in its industry or otherwise, and that the identity of any such entity is not
confidential information.

 

REGISTRATION RIGHTS AGREEMENT

This REGISTRATION
RIGHTS AGREEMENT (the “Agreement”) is dated as of October 11, 2006
by and between Senesco Technologies, Inc., a Delaware corporation (the “Company”),
Stanford Group Company (“Stanford Group”), Stanford Venture Capital Holdings, Inc.
(“Stanford Venture”), Stanford
International Bank, Ltd. (“Stanford International”, and together with
Stanford Group, Stanford Venture and any affiliates of Stanford International,
Stanford Group and Stanford Venture, “Stanford”) and Ronald Stein, Daniel Bogar, Osvaldo Pi, and William Fusselmann (collectively,
the “Stanford Employees”).

RECITALS

WHEREAS, it is
a condition precedent to the execution of that certain Financial Advisory
Agreement made by and among the Company, Stanford and the Stanford Employees
(for certain sections), dated as of the date hereof (the “Financial Advisory
Agreement”), that the Company grant registration rights for the Warrant Shares
(as defined below), in connection with resales by Stanford and the Stanford
Employees of the Warrant Shares; and

WHEREAS, the
Company, Stanford and the Stanford Employees now desire to enter into this
Agreement in order to facilitate such resales.

AGREEMENT

The
parties hereto agree as follows:

ARTICLE 1

DEFINITIONS

1.1           Definitions.  The following terms, as used herein, have the
following meanings.

“Board” means the Board of Directors of the Company.

“Business Day” means any
day except a Saturday, Sunday or other day on which banks in New Jersey are
authorized by law to close.

“Common Stock” shall mean
the shares of common stock of the Company, $0.01 par value per share.

“Commission” means the Securities and Exchange
Commission.

“Company” means Senesco Technologies, Inc., a Delaware
corporation.

“Effective Time” means the
date of effectiveness of any Registration Statement.

“Exchange Act” means the Securities Exchange Act of
1934, as amended.

“Holder” has the meaning given to it in Section 2.1(b)
hereof.

 

“NASD” means the National Association of Securities
Dealers, Inc.

“Person” means an
individual, corporation, partnership, association, trust or other entity or
organization, including a government or political subdivision or an agency or
instrumentality thereof.

“Prospectus” means the
prospectus included in any Registration Statement, as amended or supplemented
by any prospectus supplement and by all other amendments thereto, including
post-effective amendments, and all material incorporated by reference into such
Prospectus.

“Registration Statement”
means a Registration Statement of the Company relating to the registration for
sale of Common Stock, including the Prospectus included therein, all amendments
and supplements thereto (including post-effective amendments) and all exhibits
and material incorporated by reference therein.

“Restricted Securities”
means any Securities until (i) a Registration Statement covering such
Securities has been declared effective by the Commission and such Securities
have been disposed of pursuant to such effective Registration Statement, (ii)
such Securities qualify to be sold under circumstances in Rule 144(k) (or any
similar provisions then in force), (iii) such Securities are otherwise
transferred, the Company has delivered a new certificate or other evidence of
ownership for such Securities not bearing a legend restricting further transfer
and such Securities may be resold without registration under the Securities
Act, or (iv) such Securities shall have ceased to be outstanding.

“Securities” means the
shares of Common Stock issued upon the proper exercise of the Warrants issued
to Stanford and the Stanford Employees on the date hereof, and any securities
issued in respect of such Warrant Shares upon any stock split, stock dividend,
recapitalization, merger, consolidation, reorganization or similar event.

“Securities Act” means the Securities Act of 1933, as
amended.

“Financial Advisory
Agreement” has the meaning given to it in the recitals to this Agreement.

“Warrants” shall have the
meaning set forth in the Financial Advisory Agreement.

“Warrant Shares” means
the shares of Common Stock issued upon the proper exercise of the Warrants
issued to Stanford and the Stanford Employees on the date hereof, and any
securities issued in respect of such shares upon any stock split, stock
dividend, recapitalization, merger, consolidation, reorganization or similar
event.

As used in this
Agreement, words in the singular include the plural, and in the plural include
the singular.

 2
 

 

ARTICLE 2

REGISTRATION RIGHTS

2.1           Securities
Subject to this Agreement.

(a)           The
Securities entitled to the benefits of this Agreement are the Restricted
Securities, but only for so long as they remain Restricted Securities.

(b)           A
Person is deemed to be a holder of Restricted Securities (each, a “Holder”)
whenever such Person is the registered holder of such Restricted Securities on
the Company’s books and records.

2.2           Piggyback
Registration.

(a)           At
any time that the Company proposes to file a Registration Statement within five
(5) years from the date hereof, the Company shall give the Holders written
notice of its intention to do so and of the intended method of sale, including
the total number of shares proposed to be the subject of such registration (the
“Registration Notice”) within a reasonable time prior to the anticipated filing
date of the Registration Statement effecting such registration but in any event
at least thirty (30) days prior to the filing of such Registration
Statement.  Each Holder may request
inclusion of any Restricted Securities in such Registration Statement by
delivering to the Company, within ten (10) Business Days after receipt of the
Registration Notice, a written notice (the “Piggyback Notice”) stating the
number of Restricted Securities proposed to be included and that such shares
are to be included in any underwriting only on the same terms and conditions as
the shares of Common Stock otherwise being sold through underwriters under such
Registration Statement.  The Company
shall use its best efforts to cause all Restricted Securities specified in the
Piggyback Notice to be included in the Registration Statement and any related
offering, all to the extent requisite to permit the sale by the Holders of such
Restricted Securities in accordance with the method of sale applicable to the
other shares of Common Stock included in such Registration Statement; provided,
however, that if, at any time after giving written notice of its
intention to register any securities and prior to the effective date of the
Registration Statement filed in connection with such registration, the Company
shall determine for any reason not to register or to delay registration of such
securities, the Company may, at its election, give written notice of such
determination to each Holder of Restricted Securities and, thereupon:

(i)            in
the case of a determination not to register, shall be relieved of its
obligation to register any Restricted Securities in connection with such
cancelled registration (but not from its obligation to pay the Registration
Expenses, as defined in Section 2.6, in connection therewith), and

(ii)           in
the case of a delay in registering, shall be permitted to delay registering any
Restricted Securities for the same period as the delay in registering such
other securities.

(b)           The
Company’s obligation to include Restricted Securities in a Registration
Statement pursuant to Section 2.2(a) shall be subject to the following
limitations:

 3
 

 

(i)            The
Company shall not be obligated to include any Restricted Securities in a
Registration Statement filed on Form S-4, Form S-8 or such other similar
successor forms then in effect under the Securities Act.

(ii)           If
a Registration Statement involves an underwritten offering and the managing
underwriter advises the Company in writing that, in its opinion, the number of
the Restricted Securities requested to be included in such Registration
Statement exceeds the number which can be sold in such offering without
adversely affecting the offering, the Company will not include any Restricted
Securities in such Registration Statement, or if some of the requested
Restricted Securities can be included in such Registration Statement, the
Company will only include such number of Restricted Securities which the
Company is so advised can be sold in such offering without adversely affecting
the offering, determined as follows:

(A)          first,
all securities proposed by the Company to be sold for its own account shall be
included in the Registration Statement; and

(B)           third,
any Restricted Securities requested to be included in such registration on a pari
passu basis with any other securities of the Company which have been
afforded registration rights by the Company prior to, or as of the date hereof.

(c)           No
Holder of Restricted Securities may include any of its Restricted Securities in
the Registration Statement pursuant to this Agreement unless and until such
Holder furnishes to the Company in writing, within ten (10) Business Days after
receipt of a written request therefor, such information specified in Item 507
of Regulation S-K under the Securities Act or such other information as the
Company may reasonably request for use in connection with the Registration
Statement or Prospectus or preliminary Prospectus included therein and in any
application to the NASD.  Each Holder as
to which the Registration Statement is being effected agrees to furnish
promptly to the Company all information required to be disclosed in order to
make all information previously furnished to the Company by such Holder not
materially misleading.

2.3           Registration
Procedures.  In connection with any
Registration Statement and any Prospectus required by this Agreement to permit
the sale or resale of Restricted Securities, the Company shall:

(a)           prepare
and file with the Commission such amendments and post-effective amendments to
such Registration Statement as may be necessary to keep such Registration
Statement effective until the earlier of: 
(i) such time as all of such securities have been disposed of in
accordance with the intended methods of disposition by the seller or sellers
thereof set forth in such Registration Statement, or (ii) the expiration of
such Registration Statement; cause the Prospectus to be supplemented by any
required Prospectus supplement, and as so supplemented to be filed pursuant to
Rule 424 under the Securities Act, and to comply fully with the applicable
provisions of Rules 424 and 430A, as applicable, under the Securities Act in a
timely manner; and comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such Registration
Statement during the applicable period in accordance

 4
 

 

with the intended
method or methods of distribution by the sellers thereof set forth in such
Registration Statement or supplement or the Prospectus;

(b)           promptly
(and in respect of events covered by clause (i) hereof, on the same day as the
Company shall receive notice of effectiveness) advise the Holders covered by
such Registration Statement and, if requested by such Persons, confirm such
advice in writing, (i) when the Prospectus or any Prospectus supplement or
post-effective amendment has been filed, and when the same has become
effective, (ii) of any request by the Commission for post-effective amendments
to such Registration Statement or post-effective amendments to such
Registration Statement or post-effective amendments or supplements to the
Prospectus or for additional information relating thereto, (iii) of the
issuance by the Commission of any stop order suspending the effectiveness of
any such Registration Statement under the Securities Act or of the suspension
by any state securities commission of the qualification of the Restricted
Securities for offering or sale in any jurisdiction, or the initiation of any
proceeding for any of the preceding purposes, and (iv) of the existence of any
fact or the happening of any event that makes any statement of a material fact
made in any such Registration Statement, the related Prospectus, any amendment
or supplement thereto, or any document incorporated by reference therein
untrue, or that requires the making of any additions to or changes in any such
Registration Statement or the related Prospectus in order to make the
statements therein not misleading.  If at
any time the Commission shall issue any stop order suspending the effectiveness
of such Registration Statement, or any state securities commission or other
regulatory authority shall issue an order suspending the qualification or
exemption from qualification of the Restricted Securities under state
securities or Blue Sky laws, the Company shall use its reasonable efforts to
obtain the withdrawal or lifting of such order at the earliest possible time;

(c)           promptly
furnish to each Holder of Restricted Securities covered by any Registration
Statement, and each underwriter, if any, without charge, at least one conformed
copy of any Registration Statement, as first filed with the Commission, and of
each amendment thereto, including all documents incorporated by reference
therein and all exhibits (including exhibits incorporated therein by reference)
and any related correspondence between the Company and its counsel or
accountants and the Commission or staff of the Commission and such other
documents as such Holder may reasonably request;

(d)           deliver
to each Holder covered by any Registration Statement, and each underwriter, if
any, without charge, as many copies of the Prospectus (including each
preliminary prospectus) and any amendment or supplement thereto as such Person
reasonably may request;

(e)           enter
into such customary agreements and take all such other reasonable action in
connection therewith (including those reasonably requested by the selling
Holders or the underwriter(s), if any) required in order to expedite or
facilitate the disposition of such Restricted Securities pursuant to such Registration
Statement, including, but not limited to, dispositions pursuant to an
underwritten registration, and in such connection:

(i)            make such
representations and warranties to the selling Holders and underwriter(s), if
any, in form, substance and scope as are customarily made by issuers to

 5
 

 

underwriters
in underwritten offerings (whether or not sales of securities pursuant to such
Registration Statement are to be made to an underwriter(s)) and confirm the
same if and when requested;

(ii)           obtain
opinions of counsel to the Company (which counsel and opinions, in form and
substance, shall be reasonably satisfactory to the selling Holders and the
underwriter(s), if any, and their respective counsel) addressed to each selling
Holder and underwriter, if any, covering the matters customarily covered in
opinions requested in underwritten offerings (whether or not sales of
securities pursuant to such Registration Statement are to be made to an
underwriter(s)) and dated the date of effectiveness of any Registration Statement
(and, in the case of any underwritten sale of securities pursuant to such
Registration Statement, each closing date of sales to the underwriter(s)
pursuant thereto);

(iii)          use
reasonable efforts to obtain comfort letters dated the date of effectiveness of
any Registration Statement (and, in the case of any underwritten sale of
securities pursuant to such Registration Statement, each closing date of sales
to the underwriter(s), if any, pursuant thereto) from the independent certified
public accountants of the Company addressed to each selling Holder and
underwriter, if any, such letters to be in customary form and covering matters
of the type customarily covered in comfort letters in connection with
underwritten offerings (whether or not sales of securities pursuant to such
Registration Statement are to be made to an underwriter(s));

(iv)          provide for
the indemnification provisions and procedures of Section 2.7 hereof with
respect to selling Holders and the underwriter(s), if any, and;

(v)           deliver
such documents and certificates as may be reasonably requested by the selling
Holders or the underwriter(s), if any, and which are customarily delivered in
underwritten offerings (whether of not sales of securities pursuant to such
Registration Statement are to be made to an underwriter(s), with such documents
and certificates to be dated the date of effectiveness of any Registration
Statement.

The actions required by
clauses (i) through (v) above shall be done at each closing under such
underwriting or similar agreement, as and to the extent required thereunder,
and if at any time the representations and warranties of the Company
contemplated in clause (i) above cease to be true and correct, the Company
shall so advise the underwriter(s), if any, and each selling Holder promptly,
and, if requested by such Person, shall confirm such advice in writing;

(f)            prior
to any public offering of Restricted Securities, cooperate with the selling
Holders, the underwriter(s), if any, and their respective counsel in connection
with the registration and qualification of the Restricted Securities under the
securities or Blue Sky laws of such U.S. jurisdictions as the selling Holders
or underwriter(s), if any, may reasonably request in writing by the time any
Registration Statement is declared effective by the Commission, and do any and
all other acts or filings necessary or advisable to enable disposition in such
U.S. jurisdictions of the Restricted Securities covered by any Registration
Statement and to file such consents to service of process or other documents as
may be necessary in order to effect such registration or qualification; provided,
however, that the Company shall not be required to register or qualify
as a foreign corporation in any jurisdiction where it is not then so qualified
or

 6
 

 

as a dealer in
securities in any jurisdiction where it would not otherwise be required to
register or qualify but for this Section 2.3, or to take any action that would
subject it to the general service of process in suits or to general taxation,
in any jurisdiction where it is not then so subject;

(g)           in
connection with any sale of Restricted Securities that will result in such
securities no longer being Restricted Securities, cooperate with the selling
Holders and the underwriter(s), if any, to facilitate the timely preparation
and delivery of certificates representing Restricted Securities to be sold and
not bearing any restrictive legends; and enable such Restricted Securities to
be in such denominations and registered in such names as the Holders or the
underwriter(s), if any, may request at least two (2) Business Days prior to any
sale of Restricted Securities made by such underwriters;

(h)           use
its reasonable efforts to cause the disposition of the Restricted Securities
covered by any Registration Statement to be registered with or approved by such
other U.S. governmental agencies or authorities as may be necessary to enable
the seller or sellers thereof or the underwriter(s), if any, to consummate the
disposition of such Restricted Securities, subject to the proviso contained in
Section 2.3(f);

(i)            if
any fact or event contemplated by Section 2.3(b) shall exist or have occurred,
prepare a supplement or post-effective amendment to any Registration Statement
or related Prospectus or any document incorporated therein by reference or file
any other required document so that, as thereafter delivered to the purchaser
of Restricted Securities, the Prospectus will not contain an untrue statement
of a material fact or omit to state any material fact necessary to make the
statement therein not misleading;

(j)            cooperate
and assist in the performance of any due diligence investigation by any
underwriter (including any “qualified independent underwriter”) that is
required to be retained in accordance with the rules and regulations of the
NASD, and use its reasonable efforts to cause any Registration Statement to
become effective and approved by such U.S. governmental agencies or authorities
as may be necessary to enable the Holders selling Restricted Securities to
consummate the disposition of such Restricted Securities;

(k)           otherwise
use its reasonable efforts to comply with all applicable rules and regulations
of the Commission, and make generally available to its security holders with
regard to such Registration Statement, as soon as practicable, a consolidated
earnings statement meeting the requirements of Rule 158 (which need not be
audited) for the twelve (12)- month period (i) commencing at the end of any
fiscal quarter in which Restricted Securities are sold to the underwriter in a
firm or best efforts underwritten offering or (ii) if not sold to an
underwriter in such an offering, beginning with the first month of the Company’s
first fiscal quarter commencing after the effective date of any Registration
Statement;

(l)            provide
a CUSIP number for all Restricted Securities not later than the effective date
of any Registration Statement;

(m)          use
its best efforts to list, not later than the effective date of such
Registration Statement, all Restricted Securities covered by such Registration
Statement on the American

 7
 

 

Stock Exchange or
any other trading market on which any Common Stock of the Company are then
admitted for trading; and

(n)           provide
promptly to each Holder covered by any Registration Statement upon request each
document filed with the Commission pursuant to the requirements of Section 12
and Section 14 of the Exchange Act.

Each Holder agrees by
acquisition of a Restricted Security that, upon receipt of any notice from the
Company of the existence of any fact of the kind described in Section
2.3(b)(iv), such Holder will forthwith discontinue disposition of Restricted
Securities pursuant to any Registration Statement until such Holder’s receipt
of the copies of the supplemented or amended Prospectus contemplated by Section
2.3(i), or until it is advised in writing, in accordance with the notice
provisions of Section 3.3 herein (the “Advice”), by the Company that the use of
the Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated by reference in the Prospectus.  If so directed by the Company, each Holder
will deliver to the Company all copies, other than permanent file copies, then
in such Holder’s possession, of the Prospectus covering such Restricted
Securities that was current at the time of receipt of such notice.

2.4           Preparation;
Reasonable Investigation.  In
connection with the preparation and filing of each Registration Statement under
the Securities Act, the Company will give the Holders of Restricted Securities
registered under such Registration Statement, their underwriter, if any, and
their respective counsel and accountants, the opportunity to participate in the
preparation of such Registration Statement, each prospectus included therein or
filed with the Commission, and each amendment thereof or supplement thereto,
and will give each of them access to its books and records and such
opportunities to discuss the business, finances and accounts of the Company and
its subsidiaries with its officers, directors and the independent public
accountants who have certified its financial statements as shall be necessary,
in the opinion of such Holders and such underwriters’ respective counsel, to
conduct a reasonable investigation within the meaning of the Securities Act.

2.5           Certain
Rights of Holders.  The Company will
not file any Registration Statement under the Securities Act which refers to
any Holder of Restricted Securities by name or otherwise without the prior
approval of such Holder, which consent shall not be unreasonably withheld or
delayed.

2.6           Registration
Expenses.

(a)           All
expenses incident to the Company’s performance of or compliance with this
Agreement will be borne by the Company, regardless of whether a Registration
Statement becomes effective, including without limitation: (i) all registration
and filing fees and expenses (including filings made with the NASD and
reasonable counsel fees in connection therewith); (ii) all reasonable fees and
expenses of compliance with federal securities and state Blue Sky or securities
laws (including all reasonable fees and expenses of one counsel to the
underwriter(s) in any underwriting) in connection with compliance with state
Blue Sky or securities laws for all states in the United States; (iii) all
expenses of printing, messenger and delivery services and telephone calls; (iv)
all fees and disbursements of counsel for the Company; and (v) all fees and 

 8
 

 

disbursements of
independent certified public accountants of the Company (including the expenses
of any special audit and comfort letters required by or incident to such
performance), but excluding from this paragraph, fees and expenses of counsel
to the underwriter(s), if any, unless otherwise set forth herein.

(b)           The
Company will not be responsible for any underwriting discounts, commissions or
fees attributable to the sale of Restricted Securities or any legal fees or
disbursements (other than any such fees or disbursements relating to Blue Sky
compliance or otherwise as set forth under Section 2.6(a)) incurred by any
underwriters in any underwritten offering if the underwriter participates in
such underwritten offering at the request of the Holders of Restricted
Securities, or any transfer taxes that may be imposed in connection with a sale
or transfer of Restricted Securities.

(c)           The
Company shall, in any event, bear its internal expenses (including, without
limitation, all salaries and expenses of its officers and employees performing
legal or accounting duties), the expenses of any annual audit and the fees and
expenses of any Person, including special experts, retained by the Company.

2.7           Indemnification;
Contribution.

(a)           The
Company agrees to indemnify and hold harmless (i) each Holder covered by any
Registration Statement, (ii) each other Person who participates as an
underwriter in the offering or sale of such securities, (iii) each Person, if
any, who controls (within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act) any such Holder or underwriter (any of the
Persons referred to in this clause (iii) being hereinafter referred to as a “controlling
Person”), and (iv) the respective officers, directors, partners, employees,
representatives and agents of any such Holder or underwriter or any controlling
Person (any Person referred to in clause (i), (ii), (iii) or (iv) may
hereinafter be referred to as an “indemnified Person”), to the fullest extent
lawful, from and against any and all losses, claims, damages, liabilities,
judgments or expenses, joint or several (or actions or proceedings, whether
commenced or threatened, in respect thereof) (collectively, “Claims”), to which
such indemnified Person may become subject under either Section 15 of the
Securities Act or Section 20 of the Exchange Act or otherwise, insofar as such
Claims arise out of or are based upon, or are caused by any untrue statement or
alleged untrue statement of a material fact contained in any Registration
Statement or Prospectus (or any amendment or supplement thereto), or any omission
or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, or a
violation by the Company of the Securities Act or any state securities law, or
any rule or regulation promulgated under the Securities Act or any state
securities law, or any other law applicable to the Company relating to any such
registration or qualification, except insofar as such losses, claims, damages,
liabilities, judgments or expenses of any such indemnified Person; (x) are
caused by any such untrue statement or omission or alleged untrue statement or
omission that is based upon information relating to such indemnified Person
furnished in writing to the Company by or on behalf of any of such indemnified
Person expressly for use therein; (y) with respect to the preliminary
Prospectus, result from the fact that such Holder sold Securities to a Person
to whom there was not sent or given, at or prior to the written confirmation of
such sale, a copy of the Prospectus, as amended or supplemented, if the Company
shall have previously furnished copies thereof to such

 9
 

 

Holder in
accordance with this Agreement and said Prospectus, as amended or supplemented,
would have corrected such untrue statement or omission; or (z) as a result of
the use by an indemnified Person of any Prospectus when, upon receipt of a
notice from the Company of the existence of any fact of the kind described in
Section 2.3(b)(iv), the indemnified Person or the related Holder was not permitted
to do so.  Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of
any indemnified Person and shall survive the transfer of such securities by
such Holder.

In case any action shall
be brought or asserted against any of the indemnified Persons with respect to
which indemnity may be sought against the Company, such indemnified Person
shall promptly notify the Company and the Company shall assume the defense
thereof.  Such indemnified Person shall
have the right to employ separate counsel in any such action and to participate
in the defense thereof, but the fees and expenses of such counsel shall be at
the expense of the indemnified Person unless (i) the employment of such counsel
shall have been specifically authorized in writing by the Company, (ii) the
Company shall have failed to assume the defense and employ counsel, or (iii)
the named parties to any such action (including any implied parties) include
both the indemnified Person and the Company and the indemnified Person shall
have been advised in writing by its counsel that there may be one or more legal
defenses available to it which are different from or additional to those
available to the Company (in which case the Company shall not have the right to
assume the defense of such action on behalf of the indemnified Person), it
being understood, however, that the Company shall not, in connection with such
action or similar or related actions or proceedings arising out of the same
general allegations or circumstances, be liable for the reasonable fees and
expenses of more than one separate firm of attorneys (in addition to any local
counsel) at any time for all the indemnified Persons, which firm shall be (x)
designated by such indemnified Persons; and (y) reasonably satisfactory to the
Company.  The Company shall not be liable
for any settlement of any such action or proceeding effected without the
Company’s prior written consent, which consent shall not be withheld
unreasonably, and the Company agrees to indemnify and hold harmless any
indemnified Person from and against any loss, claim, damage, liability,
judgment or expense by reason of any settlement of any action effected with the
written consent of the Company.  The
Company shall not, without the prior written consent of each indemnified
Person, settle or compromise or consent to the entry of judgment on or
otherwise seek to terminate any pending or threatened action, claim, litigation
or proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not any indemnified Person is a party thereto), unless
such settlement, compromise, consent or termination includes an unconditional
release of each indemnified Person from all liability arising out of such
action, claim litigation or proceeding.

(b)           Each
Holder of Restricted Securities covered by any Registration Statement agrees,
severally and not jointly, to indemnify and hold harmless the Company and its
directors, officers and any Person controlling (within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act) the Company, and
the respective officers, directors, partners, employees, representatives and
agents of each such Person, to the same extent as the foregoing indemnity from
the Company to each of the indemnified Persons, but only (i) with
respect to actions based on information relating to such Holder furnished in
writing by or on behalf of such Holder expressly for use in any Registration
Statement or Prospectus, and (ii) to the extent of the gross proceeds, if any,
received by such Holder from the sale or other disposition of his or its

 10
 

 

Restricted
Securities covered by such Registration Statement.  In case any action or proceeding shall be
brought against the Company or its directors or officers or any such
controlling Person in respect of which indemnity may be sought against a Holder
of Restricted Securities covered by any Registration Statement, such Holder
shall have the rights and duties given the Company in Section 2.7(a) (except
that the Holder may but shall not be required to assume the defense thereof),
and the Company or its directors or officers or such controlling Person shall
have the rights and duties given to each Holder by Section 2.7(a).

(c)           If
the indemnification provided for in this Section 2.7 is unavailable to an
indemnified party under Section 2.7(a) or (b) (other than by reason of
exceptions provided in those Sections) in respect of any losses, claims,
damages, liabilities, judgments or expenses referred to therein, then each
applicable indemnifying party (in the case of the Holders severally and not
jointly), in lieu of indemnifying such indemnified party, shall contribute to
the amount paid or payable by such indemnified party as a result of such
losses, claims, damages, liabilities, judgments or expenses (i) in such
proportion as is appropriate to reflect the relative benefits received by the
Company on the one hand and the Holder on the other hand from sale of
Restricted Securities, or (ii) if such allocation provided by clause (i) above
is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i) above but also
the relative fault of the Company and such Holder in connection with the
statements or omissions which resulted in such losses, claims, damages,
liabilities, judgments or expenses, as well as any other relevant equitable
considerations. The relative fault of the Company on the one hand and of such
Holder on the other shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Company or by such Holder and the parties relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission.  The amount paid
to a party as a result of the losses, claims, damages, liabilities judgments
and expenses referred to above shall be deemed to include, subject to the
limitations set forth in the second paragraph of Section 2.7(a), any legal or
other fees or expenses reasonably incurred by such party in connection with
investigating or defending any action or claim.

The Company and each
Holder of Restricted Securities covered by any Registration Statement agree
that it would not be just and equitable if contribution pursuant to this
Section 2.7(c) were determined by pro rata allocation (even if the Holders were
treated as one entity for such purpose) or by any other method of allocation
which does not take into account the equitable considerations referred to in
the immediately preceding paragraph. 
Notwithstanding the provisions of this Section 2.7(c), no Holder (and
none of its related indemnified Persons) shall be required to contribute, in
the aggregate, any amount in excess of the amount by which the dollar amount of
proceeds received by such Holder upon the sale of the Restricted Securities
exceeds the amount of any damages which such Holder has otherwise been required
to pay by reason of such untrue statement or omission or alleged omission.  No Person guilty of fraudulent
misrepresentations (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation.

The indemnity and
contribution provisions contained in this Section 2.7 are in addition to any
liability which the indemnifying Person may otherwise have to the indemnified
Persons referred to above.

 11
 

 

2.8           Participation
in Underwritten Registrations.  No
Holder may participate in any underwritten registration hereunder unless such
Holder (a) agrees to sell such Holder’s Restricted Securities on the basis
provided in any underwriting arrangements approved by the Persons entitled
hereunder to approve such arrangements and (b) completes and executes all
reasonable questionnaires, powers of attorney, indemnities, underwriting
agreements, lock-up letters and other documents required under the terms of
such underwriting arrangements.

2.9           Selection
of Underwriters.  The Holders of
Restricted Securities covered by any Registration Statement who desire to do so
may sell such Restricted Securities in an underwritten offering.  In any such underwritten offering, the
investment banker or investment bankers and manager or managers that will
administer the offering will be selected by the Company.  Such investment bankers and managers are
referred to herein as the “underwriters.”

ARTICLE 3

MISCELLANEOUS

3.1           Entire
Agreement; Term.  This Agreement,
together with the Financial Advisory Agreement, constitutes the entire
agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreement and understandings, both oral and written,
between the parties with respect to the subject matter hereof.  This Agreement, and all rights and
obligations hereunder, will terminate upon the earlier of (i) five (5) years
from the date hereof; or (ii) when the Securities are no longer deemed to be
Restricted Securities.

3.2           Successors
and Assigns and Heirs.   This
Agreement shall inure to the benefit of and be binding upon the successors and
assigns and heirs of each of the parties, including, without limitation and
without the need for an express assignment, subsequent Holders of Restricted
Securities; provided,  however, that this Agreement shall not
inure to the benefit of or be binding upon a successor or assign of a Holder
unless and to the extent such successor or assign or heirs acquired Restricted
Securities from such Holder at a time when such Holder could not transfer such
Restricted Securities pursuant to any Registration Statement or pursuant to
Rule 144(k) under the Securities Act as contemplated by clause (ii) of the
definition of Restricted Securities.

3.3.          Notices.  All notices and other communications given or
made pursuant hereto or pursuant to any other agreement between the parties,
unless otherwise specified, shall be in writing and shall be deemed to have
been duly given or made if sent by telecopy (with confirmation in writing),
delivered personally or by overnight courier or sent by registered or certified
mail (postage prepaid, return receipt requested) to the parties at the telecopy
number, if any, or address set forth below or at such other addresses as shall
be furnished by the parties by like notice. 
Notices sent by telecopier shall be effective when receipt is
acknowledged, notices delivered personally or by overnight courier shall be
effective upon receipt and notices sent by registered or certified mail shall
be effective three (3) days after mailing:

if to a Holder:                        to
such Holder at the address set forth on the records of the Company as the
record owners of the Common Stock

 12
 

 

if to the Company:               Senesco
Technologies, Inc.

303 George Street, Suite 420

New Brunswick, New Jersey  08901

Telephone:            (732) 296-8400

Telecopy:              (732) 296-9292

Attention:              Bruce C. Galton

President and Chief Executive Officer

with copies to:                      Morgan,
Lewis & Bockius

502 Carnegie Center

Princeton, New Jersey 08540

Telephone:            (609) 919-6600

Telecopy:              (609) 919-6701

Attention:              Emilio Ragosa, Esq.

3.4           Headings.  The headings contained in this Agreement are
for convenience only and shall not affect the meaning or interpretation of this
Agreement.

3.5           Counterparts.  This Agreement may be executed in any number
of counterparts, each of which shall be deemed to be an original and all of
which together shall be deemed to be one and the same instrument.

3.6           Applicable
Law.  This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware
applicable in the case of agreements made and to be performed entirely within
such State, without regard to principles of conflicts of law.

3.7           Specific
Enforcement.  Each party hereto
acknowledges that the remedies at law of the other parties for a breach or
threatened breach of this Agreement would be inadequate, and, in recognition of
this fact, any party to this Agreement, without posting any bond, and in
addition to all other remedies which may be available, shall be entitled to
obtain equitable relief in the form of specific performance, a temporary
restraining order, a temporary to permanent injunction or any other equitable
remedy which may then be available.

3.8           Amendment
and Waivers; Subordination.  The
provisions of this Agreement may not be amended, modified or supplemented, and
waivers or consents to or departures from the provisions hereof may not be
given unless the Company has obtained the written consent of the Holders of a
majority of the Restricted Securities affected thereby.

3.9           Eligibility
under Rule 144.  With a view to
making available to Stanford and the Stanford Employees the benefits of Rule
144 promulgated under the Securities Act or any other similar rule or regulation
of the Commission that may at any time permit Stanford and the Stanford
Employees to sell securities of the Company to the public without registration,
the Company agrees to:

(a)           make
and keep public information available, as those terms are understood and
defined in Rule 144;

 13
 

 

(b)           file
with the Commission in a timely manner all reports and other documents required
of the Company under the Exchange Act so long as the Company remains subject to
such requirements and the filing of such reports and other documents is
required for the applicable provisions of Rule 144; and

(c)           furnish
to Stanford and each Stanford Employee so long as Stanford or each Stanford
Employee owns Restricted Securities, promptly upon request (i) a written
statement by the Company that it has complied with the reporting requirements
of the Exchange Act, (ii) a copy of the most recent annual or quarterly report
of the Company and such other reports and documents so filed by the Company,
and (iii) such other information as may be reasonably requested to permit the
investors to sell such securities pursuant to Rule 144 without registration.

* * * * * * * *

 14
 

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed as of the day and year
first above written.

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  SENESCO TECHNOLOGIES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Bruce C.
  Galton

  	
   

  
	
   

  	
  Name: Bruce C. Galton

  
	
   

  	
  Title: President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFORD
  GROUP:

  
	
   

  	
   

  
	
   

  	
  STANFORD GROUP COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFORD
  VENTURE:

  
	
   

  	
   

  
	
   

  	
  STANFORD VENTURE CAPITAL HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STANFORD
  INTERNATIONAL:

  
	
   

  	
   

  
	
   

  	
  STANFORD INTERNATIONAL BANK, LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
							

 

 15
 

 

 

	
  

  	
  STANFORD
  EMPLOYEES

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Ronald Stein

  	
   

  
	
   

  	
  RONALD STEIN

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Daniel Bogar

  	
   

  
	
   

  	
  DANIEL BOGAR

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Osvaldo Pi

  	
   

  
	
   

  	
  OSVALDO PI

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ William Fusselmann

  	
   

  
	
   

  	
  WILLIAM FUSSELMANN

  

 

 16Exhibit
10.36

August 1, 2006

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 One Year Period From September 1, 2006 Through August 31, 2007

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 one year term, effective
September 1, 2006 through August 31, 2007, 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 Years 7 and 8, effective September 1, 2004 to
the Revised Annual Budget for Year 9 , attached hereto, effective September 1,
2006 through August 31, 2007.  The
Revised Annual Budget for Year 9 supercedes and replaces the Revised Budget for
Years 7 and 8 of the Agreement for all work commencing on or after September 1,
2006.

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  /s/ Bruce C. Galton

  	
   

  
	
   

  	
  Bruce C. Galton

  
	
   

  	
  President

  
	
   

  	
  Senesco, Inc.

  
	
  Agreed and Accepted:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  University of Waterloo

  
	
   

  
	
   

  	
   

  	
   

  
	
  Dr. John Thompson, Ph.D.

  

 

REVISED
ANNUAL BUDGET

YEAR
9

PERIOD:       September 1, 2006 – August
31, 2007

	
  Salaries

  	
   

  	
  Cdn $/Month

  	
   

  	
  Cdn $/12 Months

  	
   

  
	
  Senior Research Associate

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

  	
   

  	
  $

  	
  7,043.75

  	
   

  	
  $

  	
  84,525.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Senior Research Associate

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

  	
   

  	
  6,540.63

  	
   

  	
  78,487.50

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  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

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

  	
   

  	
  3,521.87

  	
   

  	
  42,262.50

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  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

  	
   

  	
  14,087.50

  	
   

  	
  169,050.00

  	
   

  
	
  25% on graduate
  student

  	
   

  	
  656.25

  	
   

  	
  7,875.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL ANNUAL BUDGET

  	
   

  	
  $

  	
  52,587.50

  	
   

  	
  $

  	
  631,050.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]