EX-10.32 3 v197462_ex10-32.htm

August 20, 2010

Ms. Judy Brown, Contracts Manager
Office of Research
University of Waterloo
200 University Avenue West
Waterloo, Ontario, Canada N2L 3G1

Re:  
Amendment to Extension and Amendment to Budget and Research Agreement between Waterloo, Thompson, and Senesco for a Three Month Period From September 1, 2010 Through November 30, 2010

Dear Ms. Brown:

Pursuant to the Research Agreement effective September 1, 1998 (the “Agreement”), copy attached, between the University of Waterloo (“Waterloo”), Dr. John E. Thompson (“Thompson”), and Senesco, Inc. (“Senesco”), Waterloo, Thompson and Senesco hereby agree to extend the Agreement for an additional three month term, effective September 1, 2010 through November 30, 2010, under the same terms and conditions provided in the Agreement, except that the parties hereby amend the Budget set forth in the Revised Budget for Year 12, effective September 1, 2009, to the amended Revised Budget for Year 13 , attached hereto, effective September 1, 2010 through November 30, 2010.  The Amended Revised Budget for Year 13 supercedes and replaces the Revised Budget for Year 12 of the Agreement for all work commencing on or after September 1, 2010.

 
Very truly yours,
     
  /s/ Leslie J. Browne
 
Leslie J. Browne
 
President
 
Senesco, Inc.

Agreed and Accepted:
  
   
/s/ University of Waterloo  
University of Waterloo
  
   
/s/ Dr. John Thompson, Ph.D.   
Dr. John Thompson, Ph.D.
  
 
 
REVISED BUDGET
YEAR 13

PERIOD: September 1, 2010 – November 30, 2010

  
Cdn $/Month
      
Cdn $/3 Months
   
             
Senior Research Associate
   $ 8,145.83     $ 24,437.00  
($85,000/year + 15% benefits)
                
                 
Senior Research Associate
     7,666.67       23,000.00  
($80,000/year + 15% benefits)
                
                 
Research Associate
     4,312.50       12,938.00  
($45,000/year + 15% benefits)
                
                 
Research Associate
     4,312.50       12,938.00  
($45,000/year + 15% benefits)
                
                 
Research Associate
     3,833,33       11,500.00  
($40,000/year + 15% benefits)
                
                 
Research Associate
     1,916,67       5,750.00  
($20,000/year + 15% benefits)
                
                 
Research Associate
     1,916,67       5,750.00  
($20,000/year + 15% benefits)
                
                 
Supplies
                
Operating Expenses
     10,000.00       30,000.00  
                 
Subtotal
     42,104.17       126,313.00  
                 
Overhead
                
30% on total direct costs
     12,631,25       37,894.00  
                 
TOTAL BUDGET
   $ 54,735,42     $ 164,207.00