Document:

COMMON STOCK PURCHASE AGREEMENT
                         -------------------------------

     COMMON STOCK PURCHASE AGREEMENT (this  "Agreement"),  dated as of May ----,
2000, by and between Senesco  Technologies,  Inc., a Delaware  corporation  (the
"Corporation"),  and those purchasers  listed on the signature pages hereto (the
"Purchasers").

                              W I T N E S S E T H :
                              - - - - - - - - - -

     WHEREAS,  the  Corporation  desires  to sell,  transfer  and  assign to the
Purchasers,  and the Purchasers  desires to purchase from the Corporation,  such
number of shares (the  "Shares") of the  Corporation's  common stock,  $0.01 par
value (the "Common Stock"),  equal to the dollar amount set forth opposite their
names on the  signature  pages  hereto,  for an  aggregate  investment  of up to
$1,500,000,  at a price per share calculated by taking  approximately 80% of the
average  closing  price of the  Corporation's  Common  Stock during the ten (10)
trading days ending on May 3, 2000,  which is equal to $1.50 per share of Common
Stock (the "Purchase Price"); and

     WHEREAS,  the  Company is  entering  into  similar  Common  Stock  Purchase
Agreements with other  purchasers who are purchasing  Common Stock on comparable
terms as set forth  herein,  and whose  rights  shall vest on a pari passu basis
                                                                ---- -----
with the Purchasers herein;

     NOW,  THEREFORE,  in consideration of the promises and the mutual covenants
contained  herein,  the parties  hereto,  intending to be legally bound,  hereby
agree as follows:

                                    SECTION I

                  PURCHASE, SALE AND REGISTRATION OF THE SHARES
                  ---------------------------------------------

     A. Purchase and Sale. Subject to the terms and conditions of this Agreement
        -----------------
and on the basis of the  representations,  warranties,  covenants and agreements
herein contained,  the Corporation hereby agrees to sell,  transfer,  assign and
convey the Shares to the  Purchasers,  and the  Purchasers  agrees to  purchase,
acquire and accept the Shares from the Corporation.

     B. Purchase Price.  The aggregate  purchase price for the Shares to be paid
        --------------
by the Purchasers to the  Corporation  is an aggregate of up to $1,500,000  (the
"Aggregate  Purchase Price").  Each of the Purchasers shall pay their respective
portion of the Aggregate  Purchase  price by certified bank check or irrevocable
wire transfer delivered to the escrow account established by the Corporation and
Fahnestock & Co. Inc.  (the  "Placement  Agent"),  the  placement  agent for the
Shares sold hereunder,  as per the written instructions delivered to each of the
Purchasers by the Placement Agent.

     C. Registration Rights. The Corporation and the Purchasers shall enter into
        -------------------
a Registration  Rights  Agreement,  substantially in the form attached hereto as
Exhibit A (the "Registration Rights Agreement"),  providing that the Corporation
---------
shall  register the Shares,  pursuant to the  Securities Act of 1933, as amended
(the "1933 Act").

<PAGE>

     D. Lock-up  Agreement.  The  Corporation  shall cause each of the following
        ------------------
persons who are either directors,  executive officers or holders of more than 5%
of the outstanding shares of Common Stock of the Corporation (the "Affiliates"):
Michael A.  Escaravage,  Phillip O.  Escaravage,  Ruedi  Stalder,  Steven  Katz,
Christopher Forbes, Thomas C. Quick, John E. Thompson, Ph.D., Sascha P. Fedyszyn
and Richard Sirkin,  to enter into a Lock-up  Agreement with the Placement Agent
for the benefit of the Purchasers in the form attached  hereto as Exhibit B (the
                                                                  ---------
"Lock-up Agreement").

                                   SECTION II

                     REPRESENTATIONS, WARRANTIES, COVENANTS
                        AND AGREEMENTS OF THE CORPORATION
                        ---------------------------------

     The  Corporation  (for the purposes of this Section II,  Corporation  shall
include any predecessor corporation,  limited liability company or other entity)
represents and warrants to, and covenants and agrees with, the Purchasers, as of
the date hereof, that:

     A. Organization,  Good Standing and Power. The Corporation is a corporation
        --------------------------------------
duly  incorporated,  validly existing and in good standing under the laws of the
State of  Delaware  and has the  requisite  corporate  power to own,  lease  and
operate its properties and assets and to conduct its business as it is now being
conducted. The Corporation does not have any subsidiaries (as defined in Section
II G) except as set forth in the reports, schedules, forms, statements and other
documents  required to be filed by the Corporation and its predecessors with the
Securities  and  Exchange  Commission  (the   "Commission"),   pursuant  to  the
Securities  Exchange Act of 1934,  as amended (the  "Exchange  Act"),  including
material  filed  pursuant to Section  13(a) or 15(d) of the Exchange Act (all of
the  foregoing,  including  filings  incorporated  by reference  therein,  being
referred to herein as the "Commission Documents"). The Corporation and each such
subsidiary is duly incorporated or duly qualified as a foreign corporation to do
business and is in good standing in every  jurisdiction of the United States, or
any other country,  state, province, or political subdivision (such subsidiaries
and  jurisdictions  being  named in  Schedule  II A) in which the  nature of the
business  conducted or property owned by it makes such  qualification  necessary
except for any  jurisdiction  in which the failure to be so  qualified  will not
have a Material  Adverse  Effect,  as defined,  on the  Corporation's  financial
condition.  Material  Adverse  Effect  shall  mean any  effect on the  business,
operations,  properties  or  financial  condition  of the  Corporation  that  is
material and adverse to the Corporation and its  subsidiaries,  taken as a whole
and/or  any  condition,  circumstance,  or  situation  that  would  prohibit  or
otherwise  interfere  with the  ability  of the  Corporation  to enter  into and
perform any of its  obligations  under this  Agreement  or  Registration  Rights
Agreement in any respect which is material to the Purchasers individually.

     B. Authorization; Enforcement.
        --------------------------

        1. The Corporation  has the corporate power and  authority to enter into
and perform this Agreement and the Registration Rights Agreement attached hereto
as Exhibit A (the

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<PAGE>

"Registration  Rights Agreement") and to issue and sell the Shares in accordance
with the terms hereof. The execution, delivery and performance of this Agreement
and the Registration Rights Agreement by the Corporation and the consummation by
it of the  transactions  contemplated  hereby  and  thereby  have  been duly and
validly authorized by all necessary  corporate action, and no further consent or
authorization  of the  Corporation or its Board of Directors or  stockholders is
required.  Each of this Agreement and the Registration Rights Agreement has been
duly executed and delivered by the  Corporation.  Each of this Agreement and the
Registration Rights Agreement constitutes, or shall constitute when executed and
delivered, a valid and binding obligation of the Corporation enforceable against
the Corporation in accordance with its terms,  except as such enforceability may
be limited by applicable  bankruptcy,  insolvency,  reorganization,  moratorium,
liquidation,  conservatorship,  receivership  or similar  laws  relating  to, or
affecting  generally the  enforcement of,  creditor's  rights and remedies or by
other equitable principles of general application.

        2. To the knowledge  of the Corporation, the  Lock-up Agreement has been
duly executed and delivered by the individual  parties  thereto and  constitutes
the valid and binding  obligation  of each such party  enforceable  against such
party in accordance with its terms except as such  enforceability may be limited
by applicable bankruptcy, insolvency, moratorium, conservatorship,  receivership
or  similar  laws  relating  to, or  affecting  generally  the  enforcement  of,
creditors'  rights and  remedies  or by other  equitable  principles  of general
application.

     C. Capitalization.  The authorized capital stock of the Corporation and the
        --------------
shares thereof issued and outstanding as of the date hereof are set forth in the
Commission  Documents and the Memorandum.  All of the outstanding  shares of the
Corporation's Common Stock have been duly and validly authorized.  Except as set
forth  in  this  Agreement,  the  Lock-up  Agreement,  the  Registration  Rights
Agreement or the Commission  Documents,  no shares of Common Stock are entitled,
from the Corporation,  to preemptive rights or registration rights and there are
no  outstanding  options,  warrants,  scrip,  rights to  subscribe  to,  call or
commitments  of any  character  whatsoever  relating to, or securities or rights
convertible  into, any shares of capital stock of the Corporation.  Furthermore,
except as set forth in this Agreement,  the Lock-up Agreement,  the Registration
Rights  Agreement  or  the  Commission   Documents,   there  are  no  contracts,
commitments,  understandings, or arrangements by which the Corporation is or may
become bound to issue additional  shares of the capital stock of the Corporation
or options, securities or rights convertible into shares of capital stock of the
Corporation.  Except for customary transfer restrictions contained in agreements
entered into by the  Corporation  in order to sell  restricted  securities or as
provided in the  Commission  Documents,  the  Corporation  is not a party to any
agreement granting  registration rights to any person with respect to any of its
equity or debt securities.  Except for the Lock-up Agreement, the Corporation is
not a party to, and it has no knowledge of, any agreement restricting the voting
or transfer of any shares of the capital stock of the Corporation. Except as set
forth in the  Commission  Documents,  the offer and sale of all  capital  stock,
convertible securities,  rights,  warrants, or options of the Corporation issued
prior to the Closing  complied with all applicable  Federal and state securities
laws,  and no  stockholder  has a right of  rescission  or damages  with respect
thereto which would have a Material Adverse Effect. The Corporation has filed as
exhibits  to  the   Commission   Documents   true  and  correct

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<PAGE>

copies of the  Corporation's  Certificate of  Incorporation  as in effect on the
date hereof (the "Articles"),  and the Corporation's  Bylaws as in effect on the
date hereof (the "Bylaws").

     D. Issuance of Shares.  The Shares to be issued under this  Agreement  have
        ------------------
been duly  authorized  by all necessary  corporate  action and, when paid for or
issued in accordance  with the terms hereof,  the Shares shall be validly issued
and  outstanding,  fully paid and  nonassessable,  and the  Purchasers  shall be
entitled to all rights accorded to a holder of Common Stock.

     E. No Conflicts.  Except as may be disclosed in the  Commission  Documents,
        ------------
the execution,  delivery and performance of this Agreement and the  Registration
Rights  Agreement by the Corporation and the  consummation by the Corporation of
the  transactions  contemplated  therein do not (i) violate any provision of the
Corporation's  Articles or Bylaws,  (ii) conflict  with, or constitute a default
(or an event which with notice or lapse of time or both would  become a default)
under, or give to others any rights of termination,  amendment,  acceleration or
cancellation of, any material  agreement,  mortgage,  deed of trust,  indenture,
note,  bond,  license,  lease  agreement,  instrument or obligation to which the
Corporation is a party,  (iii) create or impose a lien, charge or encumbrance on
any property of the  Corporation  under any agreement or any commitment to which
the  Corporation is a party or by which the Corporation is bound or by which any
of its respective  properties or assets are bound, or (iv) result in a violation
of any  federal,  state,  local or foreign  statute,  rule,  regulation,  order,
judgment or decree (including federal and state securities laws and regulations)
applicable  to  the  Corporation  or any of its  subsidiaries  or by  which  any
property or asset of the  Corporation  or any of its  subsidiaries  are bound or
affected, and except, in all cases, for such conflicts, defaults,  terminations,
amendments,   acceleration,   cancellations   and   violations   as  would  not,
individually  or  in  the  aggregate,   have  a  Material  Adverse  Effect.  The
Corporation  is not  required  under  federal,  state  or  local  law,  rule  or
regulation to obtain any consent,  authorization or order of, or make any filing
or  registration  with,  any  court or  governmental  agency  in order for it to
execute,  deliver or perform any of its obligations under this Agreement and the
Registration  Rights Agreement,  or issue and sell the Shares in accordance with
the terms hereof (other than any filings which may be required to be made by the
Corporation with the Commission, the National Association of Securities Dealers,
Inc. (the "NASD"), or state securities administrators subsequent or prior to the
Closing hereunder,  and, any registration  statement which may be filed pursuant
hereto); provided that, for purpose of the representation made in this sentence,
the  Corporation  is assuming  and  relying  upon the  accuracy of the  relevant
representations and agreements of the Purchasers herein.

     F.  Commission  Documents,  Financial  Statements.  The Common Stock of the
         ----------------------------------------------
Corporation  is  registered  pursuant to Section  12(b) or 12(g) of the Exchange
Act, and, except as disclosed in the Commission  Documents,  since January 1999,
the Corporation has timely filed all Commission  Documents.  The Corporation has
made  available to the  Purchasers  true and complete  copies of the  Commission
Documents  filed with the  Commission  since  December 31, 1998 and prior to the
Closing Date. The Corporation has not provided to the Purchasers any information
which,  according  to  applicable  law,  rule or  regulation,  should  have been
disclosed publicly by the Corporation but which has not been so disclosed, other
than with respect to the  transactions  contemplated  by this  Agreement.  As of
their  respective  dates, the Form 10KSB for

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<PAGE>

the fiscal year ended June 30, 1999 and the Forms 10QSB for the fiscal  quarters
ended September 30, 1999 and December 31, 1999 complied in all material respects
with the  requirements  of the Exchange Act and the rules and regulations of the
Commission promulgated thereunder and, as of their respective dates, none of the
Form 10KSB and the Forms 10QSB referred to above contained any untrue  statement
of a material  fact or omitted to state a material  fact  required  to be stated
therein or necessary in order to make the  statements  therein,  in light of the
circumstances  under  which  they  were  made,  not  misleading.  The  financial
statements of the Corporation  included in the Commission Documents comply as to
form in all material  respects with applicable  accounting  requirements and the
published rules and regulations of the Commission or other  applicable rules and
regulations with respect thereto.  Such financial  statements have been prepared
in accordance with generally accepted accounting  principles ("GAAP") applied on
a consistent  basis during the periods  involved (except (i) as may be otherwise
indicated in such financial  statements or the notes thereto or (ii) in the case
of unaudited interim statements, to the extent they may not include footnotes or
may be  condensed  or summary  statements),  and fairly  present in all material
respects the financial  position of the Corporation  and its  subsidiaries as of
the dates thereof and the results of  operations  and cash flows for the periods
then ended  (subject,  in the case of unaudited  statements,  to normal year-end
audit adjustments).

     G. Subsidiaries.  The Commission Documents set forth each subsidiary of the
        ------------
Corporation,  showing the jurisdiction of its  incorporation or organization and
showing the percentage of each person's  ownership of the  outstanding  stock or
other  interests  of such  subsidiary.  For  the  purposes  of  this  Agreement,
"subsidiary" shall mean any corporation or other entity of which at least 50% of
the  securities  or  other  ownership  interest  having  ordinary  voting  power
(absolutely  or  contingently)  for the election of  directors or other  persons
performing similar functions are at the time owned directly or indirectly by the
Corporation  and/or  any of its other  subsidiaries.  Except as set forth in the
Commission Documents, none of such subsidiaries is a "significant subsidiary" as
defined in Regulation S-X.

     H. No Material  Adverse  Change.  Since December 31, 1999, the date through
        ----------------------------
which the most recent quarterly report of the Corporation on Form 10QSB has been
and filed with the  Commission,  a copy of which is included  in the  Commission
Documents,  the Corporation has not experienced or suffered any Material Adverse
Effect.

     I. No  Undisclosed  Liabilities.  Except  as  disclosed  in the  Commission
        ----------------------------
Documents,  neither  the  Corporation  nor  any  of  its  subsidiaries  has  any
liabilities,  obligations, claims or losses (whether liquidated or unliquidated,
secured or unsecured,  absolute, accrued, contingent or otherwise) that would be
required to be disclosed on a balance sheet of the Corporation or any subsidiary
(including  the notes  thereto) in  conformity  with GAAP not  disclosed  in the
Commission  Documents,  other than those incurred in the ordinary  course of the
Corporation's or its subsidiaries  respective businesses since December 31, 1999
and which, individually or in the aggregate, do not or would not have a Material
Adverse Effect on the Corporation or its subsidiaries.

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<PAGE>

     J. No Undisclosed Events or Circumstances.  Except for the transactions and
        --------------------------------------
documents  contemplated  hereby, no event or circumstance has occurred or exists
with  respect  to  the  Corporation  or its  subsidiaries  or  their  respective
businesses,  properties,  prospects,  operations or financial condition,  which,
under  applicable  law,  rule  or  regulation,  requires  public  disclosure  or
announcement by the Corporation but which has not been so publicly  announced or
disclosed.

     K. Indebtedness.  The Commission  Documents set forth as of the date hereof
        ------------
all  outstanding  secured and unsecured  Indebtedness  of the Corporation or any
subsidiary, or for which the Corporation or any subsidiary has commitments.  For
the purposes of this  Agreement,  "Indebtedness"  shall mean (a) any liabilities
for  borrowed  money or  amounts  owed in excess of  $25,000  (other  than trade
accounts  payable  incurred  in  the  ordinary  course  of  business),  (b)  all
guaranties,   endorsements  and  other  contingent  obligations  in  respect  of
Indebtedness  of others,  whether or not the same are or should be  reflected in
the  Corporation's  balance sheet (or the notes thereto),  except  guaranties by
endorsement  of  negotiable  instruments  for deposit or  collection  or similar
transactions  in the ordinary  course of business;  and (c) the present value of
any lease  payments  in excess  of  $25,000  due  under  leases  required  to be
capitalized in accordance with GAAP.  Neither the Corporation nor any subsidiary
is in default with respect to any Indebtedness.

     L. Title to Assets.  Each of the Corporation and the  subsidiaries has good
        ---------------
and marketable title to all of its real and personal  property  reflected in the
Commission Documents,  free of any mortgages,  pledges, charges, liens, security
interests or other  encumbrances,  except for those  indicated in the Commission
Documents  or such that could not  reasonably  be  expected  to cause a Material
Adverse Effect on the Corporation's  financial  condition or operating  results.
All said leases of the  Corporation and each of its  subsidiaries  are valid and
subsisting and in full force and effect in all material respects.

     M. Actions  Pending.  There is no action,  suit,  claim,  investigation  or
        ----------------
proceeding  pending or, to the knowledge of the Corporation,  threatened against
the Corporation or any subsidiary which questions the validity of this Agreement
or the  transactions  contemplated  hereby  or any  action  taken or to be taken
pursuant  hereto or thereto.  Except as set forth in the  Commission  Documents,
there is no action, suit, claim,  investigation or proceeding pending or, to the
knowledge of the Corporation,  threatened, against or involving the Corporation,
any  subsidiary or any of their  respective  properties or assets and which,  if
adversely  determined,  is  reasonably  likely to result in a  Material  Adverse
Effect.  To the knowledge of the Corporation,  there are no outstanding  orders,
judgments,   injunctions,   awards  or  decrees  of  any  court,  arbitrator  or
governmental or regulatory body against the Corporation or any subsidiary.

     N.   Compliance   with  Law.  The  business  of  the  Corporation  and  the
          ----------------------
subsidiaries  has been and is presently  being  conducted in accordance with all
applicable  federal,  state and local governmental laws, rules,  regulations and
ordinances,  except as set forth in the Form 10KSB, Form 10QSB or on Schedule II
                                                                     -----------
N of the  Schedule of  Exceptions  or such that do not cause a Material  Adverse
-
Effect.  The  Corporation  and each of its  subsidiaries  have  all  franchises,
permits, licenses,  consents and other governmental or regulatory authorizations
and approvals  necessary for the conduct of its business as now being  conducted
by it unless the failure to

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<PAGE>

possess such franchises,  permits, licenses,  consents and other governmental or
regulatory authorizations and approvals, individually or in the aggregate, could
not reasonably be expected to have a Material  Adverse Effect.  To the knowledge
of the Corporation,  the Corporation's technology does not require the premarket
approval of the United  States Food and Drug  Administration  (the "FDA") or the
approval  of or any  filing  with  the FDA or the  United  States  Environmental
Protection Agency (the "EPA") under current rules and regulations of the FDA and
EPA,  respectively,  when  used  for  their  intended  use as  described  in the
Confidential Private Placement Memorandum of the Corporation offering the Shares
(the "Memorandum").

     O. Certain Fees. Except as disclosed in the Memorandum, no brokers, finders
        ------------
or financial  advisory fees or commissions will be payable by the Corporation or
any subsidiary with respect to the transactions contemplated by this Agreement.

     P.  Disclosure.  Neither the  Memorandum,  this  Agreement  or the Exhibits
         ----------
hereto nor any other  documents,  certificates  or instruments  furnished to the
Purchasers by or on behalf of the  Corporation  or any  subsidiary in connection
with  the  transactions  contemplated  by  this  Agreement  contain  any  untrue
statement  of a material  fact or omits to state a material  fact  necessary  in
order to make  the  statements  made  herein  or  therein,  in the  light of the
circumstances under which they were made herein or therein, not misleading.

     Q. Intellectual Property Operation of Business. The Corporation and each of
        -------------------------------------------
the subsidiaries owns or possesses all patents, trademarks, service marks, trade
names,  copyrights,  licenses and  authorizations as set forth in the Commission
Documents and all rights with respect to the foregoing,  which are necessary for
the conduct of its  business as now  conducted  without  any  conflict  with the
rights of others,  except to the extent that a Material Adverse Effect could not
reasonably be expected to result from such conflict.  The Corporation  currently
owns or  possesses  adequate  rights to use all  inventions  subject  to pending
patent applications and all licenses,  copyrights,  inventions,  know-how, trade
secrets,  proprietary technologies,  including trademarks,  service marks, trade
names,  processes and substances described in the Memorandum including,  without
limitation,   the   inventions   underlying,   and  the  trade  names  for,  the
Corporation's  technology;  and,  except as  disclosed  in the  Memorandum,  the
Corporation  is not aware of the granting of any patent rights to, or the filing
of applications therefor by, others, nor is the Corporation aware of, or has the
Corporation received notice of, infringement of or conflict with asserted rights
of others with respect to any of the foregoing.  All such licenses,  trademarks,
service marks, trade names and copyrights are (i) valid and enforceable and (ii)
to the best knowledge of the Corporation,  not being infringed upon by any third
parties.  None of the inventions  described in the pending  patent  applications
disclosed in the Commission  Documents and filed on behalf of original inventors
with respect to the inventions underlying the Corporation's  technology has been
described or suggested in either the relevant patent  literature or the relevant
scientific literature. To the knowledge of the Corporation,  said inventions are
patentable  and no other patent is infringed  upon by the subject matter of said
inventions.  All pertinent  prior art  references  were  disclosed to the United
States  Patent  and  Trademark   Office  (the  "PTO")  in  the  pending   patent
applications  and all  information  submitted to the PTO in respect  thereof was
accurate.  The  Corporation  has not made any  representation  or concealed  any
material fact from the PTO.

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<PAGE>

     R.  Environmental  Compliance.   Except  as  disclosed  in  the  Commission
         -------------------------
Documents,  the  Corporation  and each of its  subsidiaries  have  obtained  all
material approvals, authorization,  certificates, consents, licenses, orders and
permits or other similar authorizations of all governmental authorities, or from
any other person, that are required under any Environmental Laws. "Environmental
Laws"  shall  mean  all  applicable  laws  relating  to  the  protection  of the
environment  including,  without  limitation,  all  requirements  pertaining  to
reporting,  licensing,  permitting,  controlling,  investigating  or remediating
emissions,  discharges, releases or threatened releases of hazardous substances,
chemical substances, pollutants,  contaminants or toxic substances, materials or
wastes, whether solid, liquid or gaseous in nature, into the air, surface water,
groundwater or land, or relating to the manufacture,  processing,  distribution,
use,  treatment,   storage,   disposal,   transport  or  handling  of  hazardous
substances, chemical substances,  pollutants,  contaminants or toxic substances,
material or wastes,  whether solid, liquid or gaseous in nature. Except for such
instances as would not  individually or in the aggregate have a Material Adverse
Effect,  there  are  no  past  or  present  events,  conditions,  circumstances,
incidents,  actions  or  omissions  relating  to or in  any  way  affecting  the
Corporation or its subsidiaries  that violate or could reasonably be expected to
violate  any  Environmental  Law  after  the  Closing  hereunder  or that  could
reasonably be expected to give rise to any environmental liability, or otherwise
form the basis of any claim, action, demand, suit, proceeding, hearing, study or
investigation  (i) under any  Environmental  Law, or (ii) based on or related to
the manufacture,  processing,  distribution,  use, treatment, storage (including
without limitation underground storage tanks), disposal,  transport or handling,
or the  emission,  discharge,  release or  threatened  release of any  hazardous
substance.

     S. Material  Agreements.  Except as set forth in the Commission  Documents,
        --------------------
neither the  Corporation  nor any  subsidiary  is a party to any written or oral
contract, instrument, agreement, commitment,  obligation, plan or arrangement, a
copy of which would be required to be filed with the Commission as an exhibit to
a registration statement on Form S-3 or applicable form (collectively, "Material
Agreements") if the Corporation or any subsidiary  were  registering  securities
under the Securities Act. The Corporation  and each of its  subsidiaries  has in
all material respects performed all the obligations  required to be performed by
them to date under the foregoing agreements,  have received no notice of default
and, to the best of the  Corporation's  knowledge  are not in default  under any
Material  Agreement  now in effect,  the  result of which  could  reasonably  be
expected to cause a Material Adverse Effect.

     T.  Transactions  with  Affiliates.  Except as set forth in the  Commission
         ------------------------------
Documents,   there  are  no  loans,  leases,  agreements,   contracts,   royalty
agreements,   management   contracts  or   arrangements   or  other   continuing
transactions  with aggregate  obligations of any party exceeding $25,000 between
(a) the  Corporation,  any  subsidiary or any of their  respective  customers or
suppliers on the one hand,  and (b) on the other hand,  any  officer,  employee,
consultant or director of the Corporation,  or any of its  subsidiaries,  or any
person who would be covered by Item 404(a) of Regulation S-K or any  corporation
or other entity controlled by such officer,  employee,  consultant,  director or
person.

     U.  Securities  Act. The  Corporation has complied and will comply with all
         ---------------
applicable  Federal  and state  securities  laws in  connection  with the offer,
issuance and sale of the Shares

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<PAGE>

hereunder.  Neither the Corporation nor anyone acting on its behalf, directly or
indirectly,  has or will sell, offer to sell or solicit offers to buy the Shares
or similar  securities to, or solicit offers with respect thereto from, or enter
into any preliminary  conversations  or negotiations  relating thereto with, any
person,  so  as to  bring  the  issuance  and  sale  of  the  Shares  under  the
registration  provisions of the Securities Act and applicable  state  securities
laws.  Neither the Corporation nor, to the knowledge of the Corporation,  any of
its affiliates, nor any person acting on its or their behalf, has engaged in any
form of general  solicitation  or general  advertising  (within  the  meaning of
Regulation D under the Securities  Act) in connection  with the offer or sale of
the Shares.

     V. Employees. Neither the Corporation nor any subsidiary has any collective
        ---------
bargaining  arrangements or agreements covering any of its employees,  except as
set forth in the  Commission  Documents.  Except as set forth in the  Commission
Documents,  neither  the  Corporation  nor any  subsidiary  has  any  employment
contract, agreement regarding proprietary information, noncompetition agreement,
nonsolicitation  agreement,  confidentiality  agreement,  or any  other  similar
contract or restrictive covenant, relating to the right of any officer, employee
or consultant to be employed or engaged by the  Corporation or such  subsidiary.
Since  December  31,  1999,  except as disclosed  in  Commission  Documents,  no
officer,  consultant or key employee of the Corporation or any subsidiary  whose
termination,  either  individually  or in the  aggregate,  could  reasonably  be
expected to have a Material Adverse Effect,  has terminated or, to the knowledge
of  the  Corporation,  has  any  present  intention  of  terminating  his or her
employment or engagement with the Corporation or any subsidiary.

     W. Public Utility Holding  Corporation  Act and Investment  Corporation Act
        ------------------------------------------------------------------------
Status. The Corporation is not a "holding company" or a "public utility company"
------
as such terms are defined in the Public Utility Holding Corporation Act of 1935,
as amended.  The  Corporation  is not, and as a result of and  immediately  upon
Closing will not be, an  "investment  company" or a company  "controlled"  by an
"investment  company,"  within the meaning of the Investment  Corporation Act of
1940, as amended.

     X. ERISA. No liability to the Pension Benefit Guaranty Corporation has been
        -----
incurred with respect to any Plan by the Corporation or any of its  subsidiaries
which is or would be materially adverse to the Corporation and its subsidiaries.
The  execution  and  delivery  of this  Agreement  and the issue and sale of the
Shares will not involve any transaction  which is subject to the prohibitions of
Section 406 of ERISA or in connection with which a tax could be imposed pursuant
to Section 4975 of the Internal  Revenue Code of 1986,  as amended (the "Code"),
provided  that,  if any of the  Purchasers,  or any person or entity that owns a
beneficial  interest in any of the Purchasers,  is an "employee  pension benefit
                                                       -------------------------
plan"  (within the meaning of Section  3(2) of ERISA) with  respect to which the
----
Corporation  is a "party in  interest"  (within the meaning of Section  3(14) of
                   ------------------
ERISA),  the  requirements  of  Sections  407(d)(5)  and  408(e)  of  ERISA,  if
applicable,  are met. As used in this  paragraph,  the term "Plan" shall mean an
                                                             ----
"employee  pension  benefit plan" (as defined in Section 3 of ERISA) which is or
has been established or maintained,  or to which  contributions are or have been
made, by the Corporation or any subsidiary or by any trade or business,  whether
or not incorporated,  which, together with the Corporation or any subsidiary, is
under common control, as described in Section 414(b) or (c) of the Code.

                                       9
<PAGE>

     Y. Taxes.  The  Corporation  and each of the  subsidiaries  has  accurately
        -----
prepared and filed all federal,  state, local, foreign and other tax returns for
income,  gross receipts,  sales, use and other taxes and custom duties ("Taxes")
required by law to be filed by it, has paid or made  provisions  for the payment
of all  taxes  shown  to be due and all  additional  assessments,  and  adequate
provisions  have  been and are  reflected  in the  financial  statements  of the
Corporation  and the  subsidiaries  for all current  taxes and other  charges to
which the  Corporation  or any subsidiary is subject and which are not currently
due and payable, except for taxes, if unpaid,  individually or in the aggregate,
do not and would not have a Material  Adverse  Effect on the  Corporation or its
subsidiaries.  None of the federal income tax returns of the  Corporation or any
subsidiary for the years has been audited by the Internal Revenue  Service.  The
Corporation  has no  knowledge of any  additional  assessments,  adjustments  or
contingent tax liability  (whether federal,  state, local or foreign) pending or
threatened against the Corporation or any subsidiary or any person for whose tax
liabilities the Corporation is or may be jointly or contingently  liable for any
period, nor of any basis for any such assessment, adjustment or contingency.

     Z. Books and Record Internal Accounting Controls. The records and documents
        ---------------------------------------------
of the  Corporation  and its  subsidiaries  accurately  reflect in all  material
respects the  information  relating to the business of the  Corporation  and the
subsidiaries, the location and collection of their assets, and the nature of all
transactions  giving  rise to the  obligations  or  accounts  receivable  of the
Corporation or any subsidiary.

     AA. Predecessor Entities. The transactions by which the Corporation and its
         --------------------
subsidiaries were organized and succeeded to the assets, liabilities, properties
and business of its and their respective  predecessors  were duly authorized and
consummated in accordance  with  compliance with applicable law, with the effect
of making the Corporation and its subsidiaries  the effective  successors to the
assets, liabilities, properties and business of the respective predecessors. The
foregoing  representations  and warranties,  the Exhibits hereto, the Commission
Documents  and  the  Memorandum  disclose  all  information   relating  to  such
transactions which might have a Material Adverse Effect.

                                   SECTION III

                     REPRESENTATIONS, WARRANTIES, COVENANTS
                        AND AGREEMENTS OF THE PURCHASERS

     Each of the Purchasers represents and warrants to, and covenants and agrees
with, the Corporation, as of the date hereof, that:

     A.  Organization (if  applicable).  The Purchaser is, and as of the Closing
         ------------
will be, duly organized, validly existing and in good standing under the laws of
its jurisdiction of organization.

     B.  Authorization.  The Purchaser has, and as of the Closing will have, all
         -------------
requisite power and authority to execute, deliver and perform this Agreement and
to consummate the transactions contemplated hereby. The execution,  delivery and
performance  of  this  Agreement,  and  the  consummation  of  the  transactions
contemplated  hereby,  have been duly and validly  authorized  by all  necessary
action on the part of the  Purchaser.  This Agreement has been duly

                                       10
<PAGE>

executed and  delivered by the Purchaser and  constitutes  its legal,  valid and
binding  obligation,  enforceable  against the Purchaser in accordance  with its
terms,  except as the  enforceability  thereof  may be  limited  by  bankruptcy,
insolvency or other  similar laws  affecting  the  enforceability  of creditors'
rights in general or by general principles of equity.

     C. No Legal Bar;  Conflicts.  Neither the  execution  and  delivery of this
        ------------------------
Agreement,   nor  the   consummation  by  the  Purchaser  of  the   transactions
contemplated hereby, violates any law, statute,  ordinance,  regulation,  order,
judgment  or  decree  of any  court or  governmental  agency  applicable  to the
Purchaser, or violates, or conflicts with, any contract, commitment,  agreement,
understanding or arrangement of any kind to which the Purchaser is a party or by
which the Purchaser is bound.

     D. No  Litigation.  No action,  suit or  proceeding  against the  Purchaser
        --------------
relating to the  consummation  of any of the  transactions  contemplated by this
Agreement nor any governmental  action against the Purchaser seeking to delay or
enjoin  any such  transactions  is  pending  or, to the  Purchaser's  knowledge,
threatened.

     E. Investment  Intent.  The Purchaser (i) is an accredited  investor within
        ------------------
the meaning of Rule 501(a) under the Securities Act, (ii) is aware of the limits
on resale imposed by virtue of the nature of the  transactions  contemplated  by
this  Agreement,  specifically  the  restrictions  imposed  by  Rule  144 of the
Securities Act, and is aware that the certificates  representing the Purchaser's
respective  ownership of Common Stock will bear related  restrictive legends and
(iii)  except as otherwise  set forth  herein,  is  acquiring  the shares of the
Corporation  hereunder without registration under the Securities Act in reliance
on the exemption from  registration  contained in Section 4(2) of the Securities
Act and/or Rule 506 promulgated  pursuant to Regulation D of the Securities Act,
for investment for its own account,  and not with a view toward,  or for sale in
connection with, any  distribution  thereof,  nor with any present  intention of
distributing  or  selling  such  shares.  The  Purchaser   represents  that  the
Accredited  Investor  Questionnaire  is true and complete in all  respects.  The
Purchaser  has been given the  opportunity  to ask  questions  of,  and  receive
answers from, the officers of the  Corporation  regarding the  Corporation,  its
current and proposed business  operations and the Common Stock, and the officers
of the  Corporation  have made  available to the  Purchaser  all  documents  and
information  that the Purchaser  has requested  relating to an investment in the
Corporation.  The Purchaser has been  represented by competent  legal counsel in
connection  with its  purchase  of the Common  Stock and  acknowledges  that the
Corporation has relied upon the Purchaser's representations in this Section 3 in
offering and selling Common Stock to the Purchaser.

     F. Economic Risk; Restricted Securities.  The Purchaser recognizes that the
        ------------------------------------
investment  in the Common  Stock  involves a number of  significant  risks.  The
foregoing, however, does not limit or modify the representations, warranties and
agreements of the Corporation in Section 2 of this Agreement or the right of the
Purchaser to rely thereon.  The Purchaser is able to bear the economic  risks of
an investment in the Common Stock for an indefinite  period of time, has no need
for liquidity in such investment and, at the present time, can afford a complete
loss of such investment.

                                       11
<PAGE>

     G.  Access  to  Information.  The  Purchaser  has  received  a copy  of the
         -----------------------
following documents:

     (i) The Company's Private Placement Memorandum; and

     (ii) The following Company's reports filed with the Securities and Exchange
Commission:

          1.   Annual Report on Form 10-KSB for the year ended June 30, 1999;

          2.   Definitive  Proxy  Statement  for  the  1999  Annual  Meeting  of
               Stockholders;

          3.   Quarterly  Report on Form 10-QSB for the quarter ended  September
               30, 1999;

          4.   Quarterly  Report on Form 10-QSB for the quarter  ended  December
               31, 1999; and

          5.   Any press releases issued after the Company's most recently filed
               Form 10-QSB.

     The Purchaser represents that it has not received any information about the
Company other than what has been  disclosed in the documents set forth above and
the Exhibits to this Agreement.

     H.  Suitability.  The Purchaser has carefully  considered,  and has, to the
         -----------
extent the Purchaser  deems it necessary,  discussed  with the  Purchaser's  own
professional  legal, tax and financial advisers the suitability of an investment
in the Common Stock for the Purchaser's  particular tax and financial situation,
and the Purchaser has determined that the Common Stock is a suitable investment.

     I.  Legend. he Purchaser acknowledges that the certificates  evidencing the
         ------
Shares will bear the following legend:

         THE  SHARES  REPRESENTED BY THIS  CERTIFICATE  HAVE NOT BEEN REGISTERED
         UNDER THE  SECURITIES   ACT OF 1933,  AS AMENDED.  THE SHARES HAVE BEEN
         ACQUIRED FOR INVESTMENT  AND MAY NOT BE PLEDGED, HYPOTHECATED,  SOLD OR
         TRANSFERRED IN THE  ABSENCE OF AN EFFECTIVE  REGISTRATION STATEMENT FOR
         THE SHARES  UNDER  SUCH ACT OR AN OPINION OF COUNSEL TO THE ISSUER THAT
         REGISTRATION  IS NOT REQUIRED UNDER THE ACT.

                                    12
<PAGE>

                                   SECTION IV

                      THE CLOSING AND CONDITIONS TO CLOSING
                      -------------------------------------

     A. Time and Place of the Closing.  The closing shall be held at the offices
        -----------------------------
of  Buchanan  Ingersoll  Professional   Corporation,   650  College  Road  East,
Princeton,  New Jersey 08540,  on May ---, 2000 (the  "Closing  Date"),  or such
other time and place as the Corporation and the Purchasers may mutually agree.

     B. Delivery by the Corporation. Delivery of the Shares shall be made by the
        ---------------------------
Corporation,  or by its transfer  agent, to the Purchasers as soon as reasonably
practicable after the Closing Date by delivering a certificate  representing the
Shares with an executed stock power,  each such certificate to be accompanied by
any requisite documentary or transfer tax stamps.

     C. Delivery by the Purchasers.  On the Closing Date, the Purchasers, or the
        --------------------------
escrow agent,  as the case may be, shall deliver to the  Corporation  the entire
Aggregate Purchase Price by certified bank check or by irrevocable wire transfer
to an account specified in writing to the Purchasers or the escrow agent, as the
case may be, by the Corporation.

     D. Other Conditions to Closing.
        ---------------------------

          (1) As of the Closing Date, all requisite action by the  Corporation's
Board of  Directors  and  stockholders  shall  have been taken  pursuant  to the
By-Laws of the Corporation.

          (2) As of the Closing Date, the Corporation  and the Purchasers  shall
have entered into the Registration Rights Agreement.

          (3) As of the Closing Date,  the  Affiliates  and the Placement  Agent
shall have entered into the Lock-up Agreements.

          (4) As of the Closing Date, the Placement Agent shall have received an
opinion of counsel for the Corporation and other closing certificates reasonably
requested by counsel for the Placement Agent.

                                    SECTION V

                                 INDEMNIFICATION
                                 ---------------

          A. General  Indemnity.  The  Corporation  agrees to indemnify and hold
             ------------------
harmless  each  Purchaser  and its agents,  heirs,  successors  and assigns (but
excluding  consequential  damages)  from and against any and all actual  losses,
liabilities,  deficiencies,  costs,  damages and reasonable expenses (including,
without  limitation,  reasonable  attorney's  fees,  charges and  disbursements)
incurred as a result of any  misrepresentation  or breach of the  warranties and
covenants made by the Corporation herein and the Registration  Rights Agreement.
Each Purchaser agrees, severally and not jointly, to indemnify and hold harmless
the Corporation and its directors,  officers, affiliates, agents, successors and
assigns from and against any and all actual losses,  liabilities,

                                       13
<PAGE>

deficiencies,  costs,  damages  and  expenses  (including,  without  limitation,
reasonable attorneys fees, charges and disbursements but excluding consequential
damages)   incurred  by  the   Corporation  as  result  of  any  breach  of  the
representations and covenants made by such Purchaser herein.

     B. Indemnification  Procedure.  Any party entitled to indemnification under
        --------------------------
this  Section  (an  "indemnified   party")  will  give  written  notice  to  the
indemnifying  party of any matters  giving rise to a claim for  indemnification;
provided, that the failure of any party entitled to indemnification hereunder to
give notice as provided herein shall not relieve the  indemnifying  party of its
obligations under this Section except to the extent that the indemnifying  party
is  actually  prejudiced  by such  failure to give  notice.  In case any action,
proceeding or claim is brought against an indemnified  party in respect of which
indemnification is sought hereunder, the indemnifying party shall be entitled to
participate in and, unless in the reasonable judgment of the indemnified party a
conflict  of  interest  between  it and the  indemnifying  party may exist  with
respect of such action,  proceeding or claim, to assume the defense thereof with
counsel reasonably  satisfactory to the indemnified party. In the event that the
indemnifying  party  advises an  indemnified  party that it will  contest such a
claim for  indemnification  hereunder,  or  fails,  within  thirty  (30) days of
receipt of any indemnification  notice to notify, in writing, such person of its
election to defend,  settle or  compromise,  at its sole cost and  expense,  any
action,  proceeding or claim (or  discontinues  its defense at any time after it
commences such defense),  then the indemnified party may, at its option, defend,
settle or otherwise compromise or pay such action or claim. In any event, unless
and until the indemnifying  party elects in writing to assume and does so assume
the defense of any such claim,  proceeding or action,  the  indemnified  party's
costs and expenses  arising out of the defense,  settlement or compromise of any
such action,  claim or  proceeding  shall be losses  subject to  indemnification
hereunder.  The indemnified  party shall  cooperate fully with the  indemnifying
party in connection  with any negotiation or defense of any such action or claim
by the  indemnifying  party  and shall  furnish  to the  indemnifying  party all
information  reasonably available to the indemnified party which relates to such
action or claim. The indemnifying  party shall keep the indemnified  party fully
apprised  at  all  times  as to the  status  of the  defense  or any  settlement
negotiations  with respect thereto.  If the indemnifying  party elects to defend
any such  action or claim,  then the  indemnified  party  shall be  entitled  to
participate  in such  defense  with  counsel  of its choice at its sole cost and
expense.  The  indemnifying  party shall not be liable for any settlement of any
action,  claim  or  proceeding  effected  without  its  prior  written  consent.
Notwithstanding anything in this Section to the contrary, the indemnifying party
shall not, without the indemnified  party's prior written consent (which consent
shall not be unreasonably  withheld),  settle or compromise any claim or consent
to entry of any judgment in respect thereof which imposes any future  obligation
on the indemnified  party or which does not include,  as an  unconditional  term
thereof, the giving by the claimant or the plaintiff to the indemnified party of
a release  from all  liability  in respect of such  claim.  The  indemnification
required  by this  Section  shall be made by  periodic  payments  of the  amount
thereof  during the course of  investigation  or defense,  as and when bills are
received or expense,  loss,  damage or  liability  is  incurred,  so long as the
indemnified party  irrevocably  agrees to refund such moneys if it is ultimately
determined by a court of competent jurisdiction that such party was not entitled
to  indemnification.  The  indemnity  agreements  contained  herein  shall be in
addition to (a) any cause of action or similar rights of the  indemnified  party
against  the

                                       14
<PAGE>

indemnifying party or others, and (b) any liabilities the indemnifying party may
be subject to pursuant to the law.

                                   SECTION VI

                                  MISCELLANEOUS
                                  -------------

     A. Entire Agreement.  This Agreement  contains the entire agreement between
        ----------------
the parties hereto with respect to the transactions  contemplated hereby, and no
modification hereof shall be effective unless in writing and signed by the party
against which it is sought to be enforced.

     B. Invalidity,  Etc. If any provision of this Agreement, or the application
        ----------------
of any such provision to any person or circumstance,  shall be held invalid by a
court  of  competent  jurisdiction,  the  remainder  of this  Agreement,  or the
application of such provision to persons or circumstances other than those as to
which it is held invalid, shall not be affected thereby.

     C.  Headings.  The  headings  of  this  Agreement  are for  convenience  of
         --------
reference only and are not part of the substance of this Agreement.

     D. Binding  Effect.  This Agreement  shall be binding upon and inure to the
        ---------------
benefit of the parties hereto and their respective successors and assigns.

     E.  Governing  Law.  This  Agreement  shall be governed by and construed in
         --------------
accordance  with the laws of the  State  of New York  applicable  in the case of
agreements  made  and to be  performed  entirely  within  such  State,  and  the
Corporation  hereby  consents to the  jurisdiction of the courts of the State of
New York for any matters arising out of this Agreement.

     F.  Successors  and  Assigns.  Except as  otherwise  provided  herein,  the
         ------------------------
provisions  hereof  shall  inure to the  benefit  of, and be binding  upon,  the
successors,  assigns, heirs, executors and administrators of the parties hereto;
provided,  however,  that the rights of the  Purchasers  to purchase  the Shares
--------   -------
shall not be assignable without the prior written consent of the Corporation.

     G.  Notices.  All notices and other  communications  required or  permitted
         -------
hereunder shall be in writing and shall be effectively  given: (i) upon personal
delivery;  (ii) upon confirmed  transmission by telecopy; or (iii) five (5) days
following deposit with the United States Post Office, by registered or certified
mail,  postage  prepaid,  addressed (a) if to a Purchaser,  at such  Purchaser's
address  or  telecopy  number  as set  forth  on the  signature  pages  to  this
Agreement;  with a copy to the  Placement  Agent at  Fahnestock & Co. Inc.,  125
Broad Street,  New York, New York 10004, Attn: Frank (Kee) Colen, with a copy to
counsel for the Placement Agent at Parker Chapin LLP, The Chrysler Building, 405
Lexington Avenue, New York, New York 10174, Attn: Gary Simon, Esq.; or (b) if to
the Corporation,  at Senesco Technologies,  Inc., 34 Chambers Street, Princeton,
New Jersey 08542,  Attn: Steven Katz; with a copy to counsel for the Corporation
at  Buchanan  Ingersoll  Professional   Corporation,   650  College  Road  East,
Princeton, New Jersey 08540, Attn: David J. Sorin, Esq.

                                       15
<PAGE>

     H. Agency.  Each of the Purchasers  hereby  appoints the Placement Agent as
        ------
its  agent  under  this  Agreement  to  consummate   any  of  the   transactions
contemplated hereby.

     I.  Counterparts.  This  Agreement may be executed in one or more identical
         ------------
counterparts,  each of  which  shall  be  deemed  an  original  but all of which
together will constitute one and the same instrument.

                                      *****

                                       16
<PAGE>

     IN WITNESS  WHEREOF,  this Common Stock  Purchase  Agreement  has been duly
executed by the parties hereto as of the date first above written.

CORPORATION                                      PURCHASERS

SENESCO TECHNOLOGIES, INC.

-----------------------------------------        -------------------------------
By:  Steven Katz, President,                     Name:
     Chief Operating Officer and Treasurer            --------------------------
                                                 Address:
                                                         -----------------------
                                                         -----------------------
                                                         -----------------------
                                                 Telecopy:
                                                          ----------------------
                                                 Amount of Investment: $--------

                                       17
<PAGE>

                                    EXHIBIT A

                          Registration Rights Agreement
                          -----------------------------

                                       18
<PAGE>

                                    EXHIBIT B

                                Lock-up Agreement
                                -----------------

                                       19REGISTRATION RIGHTS AGREEMENT

     This  REGISTRATION  RIGHTS  AGREEMENT (the  "Agreement") is dated as of May
---,  2000  between  Senesco  Technologies,  Inc., a Delaware  corporation  (the
"Company"),  and those persons  listed on the signature  pages  attached  hereto
(individually, a "Purchaser" and collectively, the "Purchasers").

                                    RECITALS
                                    --------

     WHEREAS,  it is a condition  precedent to the obligations of each Purchaser
under the stock  purchase  agreement  made by and among the  Purchasers  and the
Company, dated as of the date hereof (the "Stock Purchase Agreement"),  that the
Company grant registration rights for the shares of common stock of the Company,
$0.01  par value  (the  "Common  Stock"),  in  connection  with  resales  by the
Purchasers of the Common Stock; and

     WHEREAS,   the  Company  is  entering  into  similar   Registration  Rights
Agreements  and  Stock  Purchase   Agreements  with  other  purchasers  who  are
purchasing  Common  Stock on the  identical  terms as set forth herein and whose
rights shall vest on a pari passu basis with the Purchasers herein (the "Private
Placement");

     WHEREAS,  the  Company  and the  Purchasers  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" means the Common Stock of the Company,  $0.01 par value per
share.

     "Closing Date" shall mean the Closing Date as defined in the Stock Purchase
Agreement.

     "Commission" means the Securities and Exchange Commission.

     "Company" means Senesco Technologies, Inc., a Delaware corporation.

     "Company  Registration  Statement" means the Registration  Statement of the
Company  relating to the  registration  for sale of Common Stock,  including the
Prospectus  included therein,  all

                                       1
<PAGE>

amendments and supplements thereto (including post-effective amendments) and all
exhibits and material  incorporated  by reference  therein,  but  excluding  the
current  registration  statement on Form S-3 to be filed with the  Commission in
connection  with the  registration  of shares of Common Stock issued and sold by
the Company as part of the private placement consummated in May 1999 and certain
other shares of Common Stock sold by affiliates of the Company.

     "Effective  Time"  means  the  date of  effectiveness  of any  Registration
Statement.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     "Holders" 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  Statements" means the Company Registration Statement and the
Shelf Registration Statement.

     "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 held by the Purchaser and any
securities  issues  in  respect  of such  shares  upon any  stock  split,  stock
dividend,  recapitalization,  merger,  consolidation,  reorganization or similar
event.

     "Securities Act" means the Securities Act of 1933, as amended.

     "Shelf  Registration  Statement"  means the  registration  statement of the
Company relating to the shelf  registration for resale of Restricted  Securities
contemplated by Section 2.2 herein,  including the Prospectus  included therein,
all amendments and supplements thereto (including post-effective amendments) and
all exhibits and material incorporated by reference therein.

                                       2
<PAGE>

     "Stock  Purchase  Agreement" has the meaning given to it in the recitals to
this Agreement.

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

                                    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 Shelf Registration.
         -------------------

     (a) The Company shall:

          (i)  cause  to be  filed  with  the  Commission  a Shelf  Registration
Statement on Form S-3 (or, if such form is superseded by a successor  form, such
successor  form);  or  if  Form  S-3  is  not  available  with  respect  to  the
registration  of the  Restricted  Securities,  any form on which the  Company is
permitted  under the Securities  Act, which Shelf  Registration  Statement shall
provide for  resales of all  Restricted  Securities,  the Holders of which shall
have provided to the Company the information required pursuant to Section 2.2(c)
herein; and

          (ii) use its best reasonable  efforts to cause such Shelf Registration
Statement to be declared effective by the Commission within nine (9) months from
the last Closing Date.

     (b) In connection with the Shelf Registration Statement,  the Company shall
comply with all the provisions of Section 2.4 below and shall use its reasonable
efforts  to  effect  such  registration  to  permit  the sale of the  Restricted
Securities  being  sold in  accordance  with the  intended  method or methods of
distribution  thereof (as indicated in the information  furnished to the Company
pursuant to Section 2.2.(c)).  Subject to Section 2.2(d),  the Company shall use
its  best  efforts  to  keep  such  Shelf  Registration  Statement  continuously
effective,  supplemented  and amended as required by the  provisions  of Section
2.2(d) to the extent  necessary  to ensure that it is  available  for resales of
Restricted  Securities  by the Holders of Restricted  Securities,  and to ensure
that it conforms with the requirements of this Agreement, the Securities Act and
the policies,  rules and regulations of the Commission as announced from time to
time, for a period of one (1) year from the Effective Time or such longer period
as required by Section  2.2(d) or such shorter  period that will  terminate when
all the Securities  covered by the Shelf  Registration  Statement have been sold
pursuant to the Shelf Registration Statement or otherwise cease to be Restricted
Securities.  Upon the  occurrence  of any  event  that  would  cause  any  Shelf
Registration  Statement  or the

                                       3
<PAGE>

Prospectus contained therein (i) to contain a material  misstatement or omission
or (ii)  not to be  effective  and  usable  for  sale or  resale  of  Restricted
Securities during the period required by this Agreement,  the Company shall file
promptly an appropriate  amendment to such Shelf  Registration  Statement or the
related  Prospectus or any document  incorporated  therein by reference,  in the
case of clause (i),  correcting any such  misstatement or omission,  and, in the
case of either  clause  (i) or (ii),  use its  reasonable  efforts to cause such
amendment  to be declared  effective  and such  Registration  Statement  and the
related  Prospectus  to become  usable for its  intended  purpose(s)  as soon as
practicable thereafter.

     (c) No Holder of Restricted  Securities  may include any of its  Restricted
Securities in the Shelf 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
Shelf Registration  Statement or Prospectus or preliminary  Prospectus  included
therein and in any  application  to the NASD.  Each Holder as to which the Shelf
Registration  Statement  is being  effected  agrees to furnish  promptly  to the
Company  all  information  required  to  be  disclosed  in  order  to  make  the
information  previously  furnished to the Company by such Holder not  materially
misleading.

     (d)  Notwithstanding  anything to the contrary contained herein, if (x) the
Board  determines  in good  faith  that the  registration  and  distribution  of
Restricted  Securities (or the use of such Shelf  Registration  Statement or the
Prospectus  contained  therein)  would  interfere  with any  proposed or pending
material corporate  transaction involving the Company or any of its subsidiaries
or would require  premature  disclosure  thereof or would require the Company to
disclose information that the Company has not otherwise made public and that the
Company  reasonably  determines  is in the best  interests of the Company not to
disclose at such time,  and (y) the Company  notifies the Holders in writing not
later than three (3) days following such determination  (such notice a "Blackout
Notice"),  the Company may (A)  postpone  the filing of such Shelf  Registration
Statement or (B) allow such Shelf Registration Statement to fail to be effective
and usable or elect that such Shelf  Registration  Statement not be usable for a
reasonable  period of time, but not in excess of 30 days (a "Blackout  Period");
provided,  however,  that the aggregate  number of days included in all Blackout
---------  --------
Periods  shall not  exceed 90 during  any  consecutive  12 months  and shall not
exceed 150 during the period specified in Section 2.2(b) of this Agreement;  and
provided,  further,  that the period  referred to in Section 2.2(b) during which
---------  --------
the Shelf Registration Statement is required to be effective and usable shall be
extended by the  aggregate  number of days during  which the Shelf  Registration
Statement was not effective or usable pursuant to the foregoing provisions.

     2.3 Piggyback Registration.
         -----------------------

     (a) At any time that the Company  proposes  to file a Company  Registration
Statement within three (3) years from the date hereof, plus the aggregate number
of days during  which the Shelf  Registration  Statement  was not  effective  or
usable  pursuant to Section  2.2(d),  the Company shall give the Holders written
notice  of its  intention  to do so and of the  intended  method  of  sale  (the

                                       4
<PAGE>

"Registration  Notice") within a reasonable time prior to the anticipated filing
date of the Company Registration  Statement effecting such Company Registration.
Each Holder may request  inclusion of any Restricted  Securities in such Company
Registration  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 Company  Registration  Statement.  The Company shall use
its best efforts to cause all Restricted  Securities  specified in the Piggyback
Notice to be  included  in the Company  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 Company  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
Company 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  registration (but not from its obligation to pay
          the Registration Expenses 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 Company
Registration  Statement  pursuant  to  Section  2.3(a)  shall be  subject to the
following limitations:

                    (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  Company  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  Company  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 Company Registration  Statement,  or
          if some of the requested Restricted Securities can be included in such
          Company  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 Company
               Registration Statement, and

                                       5
<PAGE>

                              (B) second, 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 as of the date hereof, as set
               forth in the Memorandum.

                    (iii)  The  Company   shall  not  be  obligated  to  include
          Restricted  Securities  in  more  than  two (2)  Company  Registration
          Statement(s).

     (c) No Holder of Restricted  Securities  may include any of its  Restricted
Securities  in the Company  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
Company Registration  Statement or Prospectus or preliminary Prospectus included
therein and in any  application to the NASD. Each Holder as to which the Company
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.

     2.4 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 (i) if such Registration Statement is a Company
Registration Statement, until the earlier of 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 Company  Registration  Statement
or (ii) if such Registration  Statement is a Shelf Registration  Statement,  for
the applicable  period set forth in Section 2.2(b) herein;  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  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,  to confirm  such advice in  writing,  (i) when the  Prospectus  or any
Prospectus  supplement or post-

                                       6
<PAGE>

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 underwriters in  underwritten  offerings  (whether or not sales of
securities   pursuant  to  such   Registration   Statement   are  to  be  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

                                       7
<PAGE>

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)  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 2.8 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 as a dealer in securities in any jurisdiction where it would not otherwise be
required to register or qualify but for this  Section 2.4, 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

                                       8
<PAGE>

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 2.2(f);

     (i) if any fact or event contemplated by Section 2.4(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 purchasers 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-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 NASD OTC Electronic  Bulletin Board 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.

                                       9
<PAGE>

     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  2.4(b)(iv) or the commencement of a Blackout Period,  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 2.4(i), or until it
is advised in writing,  in accordance with the notice  provisions of Section 5.3
herein (the  "Advice"),  by the Company  that the use of the  Prospectus  may be
resumed, and has received copies of any additional or supplemental fillings 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. In
the event the Company shall give any such notice,  the time period regarding the
effectiveness  of the Shelf  Registration  Statement set forth in Section 2.2(b)
shall be extended by the number of days during the period from and including the
date  of the  giving  of such  notice  pursuant  to  Section  2.4(b)(iv)  or the
commencement  of a Blackout  Period to and  including the date when each selling
Holder covered by such Registration  Statement shall have received the copies of
the supplemented or amended  Prospectus  contemplated by Section 2.4(i) or shall
have  received (in  accordance  with the notice  provisions  of Section 3.3) the
Advice.

     2.5  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
to 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.

     2.6 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.

     2.7 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;

                                       10
<PAGE>

(iv) all fees and disbursements of counsel for the Company; and (v) all fees and
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) In addition,  in connection  with the filing of the Shelf  Registration
Statement required to be filed by this Agreement, the Company will reimburse the
Holders of the  Restricted  Securities  being  registered  pursuant to any Shelf
Registration  Statement for the reasonable  fees and  disbursements  of not more
than one counsel to review such Registration Statement.

     (c) Notwithstanding the foregoing,  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 for
the under Section 2.7(a))  incurred by any  underwriter(s)  in any  underwritten
offering if the underwriter(s) 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.

     (d) 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.

     2.8 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,

                                       11
<PAGE>

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 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 Blackout  Notice or a notice from the
Company  of the  existence  of  any  fact  of  the  kind  described  in  Section
2.4(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.

                                       12
<PAGE>

     (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 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  Purchaser  from the sale or other  disposition  of his or its
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 2.8(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 2.8(a).

     (c) If the indemnification  provided for in this Section 2.8 is unavailable
to an  indemnified  party under  Section  2.8(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  2.8(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  2.8(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

                                       13
<PAGE>

considerations   referred   to   in   the   immediately   preceding   paragraph.
Notwithstanding the provisions of this Section 2.8(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 2.8
are in addition to any  liability  which the  indemnifying  person may otherwise
have to the indemnified persons referred to above.

     2.9 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.

     2.10  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 Holders of a majority
of the Restricted  Securities  included in such offering if such registration is
pursuant  to the  Shelf  Registration  Statement,  and by the  Company  if  such
registration is pursuant to a Company Registration Statement; provided, however,
                                                              --------- --------
that such investment bankers and managers must be reasonably satisfactory to the
Company or the Holders,  respectively. The Company hereby agrees that Fahnestock
& Co. Inc. is  acceptable  for  purposes  hereof.  Such  investment  bankers and
managers are referred to herein as the "underwriters".

                                    ARTICLE 3

                                  MISCELLANEOUS

     3.1 Entire  Agreement.  This  Agreement,  together with the Stock  Purchase
         ------------------
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.

     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

                                       14
<PAGE>

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 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 among 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 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

        with a copy to:       Fahnestock & Co. Inc.
                              125 Broad Street
                              New York, New York 10004
                              Attention: Frank (Kee) Colen
        if to the Company:    Senesco Technologies, Inc.
                              34 Chambers Street
                              Princeton, New Jersey  08542
                              Telephone Number:  (609) 252-0680
                              Fax:  (609) 252-0049
                              Attention:  Steven Katz, President,
                                          Chief Operating Officer and Treasurer

        with copies to:       Buchanan Ingersoll Professional Corporation
                              650 College Road East
                              Princeton, New Jersey 08540
                              Telephone Number:  (609) 987-6800
                              Fax:  (609) 520-0360
                              Attention:  David J. Sorin, 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.

                                       15
<PAGE>

     3.6 Applicable  Law. This  Agreement  shall be governed by and construed in
         ----------------
accordance with the internal laws of the State of New York without giving effect
to  the  choice  law  provisions,   and  the  Company  hereby  consents  to  the
jurisdiction  of the courts of the State of New York for any matters arising out
of this Agreement.

     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.  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.  It is hereby  understood and agreed to by the parties hereto
that the Company may only grant registration  rights to such other purchasers of
capital stock of the Company which are junior to the registration  rights of the
Purchasers hereunder.

     3.9 Eligibility for Form S-3. The Company  represents and warrants that, as
         -------------------------
of the  date  hereof,  it  meets  the  requirements  for the use of Form S-3 for
registration of the sale by the Purchasers of the Restricted  Securities and the
Company  has filed all  reports  required  to be filed by the  Company  with the
Commission  in a timely manner so as to obtain such  eligibility  for the use of
Form S-3. The Company  shall use its best efforts to meet the  requirements  for
use of Form S-3 for registration of the sale by the Purchasers of the Restricted
Securities  and the Company  shall file all reports  required to be filed by the
Company with the Commission in a timely manner so as to maintain eligibility for
the use of Form S-3.

     3.9  Eligibility  under Rule 144.  With a view to making  available  to the
          ----------------------------
Purchasers 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
the  Purchasers  to  sell  securities  of  the  Company  to the  public  without
registration ("Rule 144"), the Company agrees to:

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

     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

                                       16
<PAGE>

     c. furnish to each  Purchaser  so long as such  Purchaser  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.

                                 * * * * * * * *

                                       17
<PAGE>

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

                                   COMPANY:

                                   SENESCO TECHNOLOGIES, INC.

                                   By:
                                      ------------------------------------------
                                      Name:  Steven Katz
                                      Title: President, Chief Operating Officer
                                             and Treasurer

                                   PURCHASERS:

                                   By:
                                      ------------------------------------------
                                      Name:
                                           -------------------------------------
                                      Address:
                                              ----------------------------------
                                              ----------------------------------
                                              ----------------------------------

                                       18

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