August 25, 2008
Exhibit 10.28
August 25, 2008
Ms. Xxxx Xxxxx, Contracts Manager
Office of Research
University of Waterloo
000 Xxxxxxxxxx Xxxxxx Xxxx
Xxxxxxxx, Xxxxxxx, Xxxxxx X0X 0X0
Re: Amendment to Extension and Amendment to Budget and Research Agreement between Waterloo, Xxxxxxxx, and Senesco for a One Year Period From September 1, 2008 Through August 31, 2009
Dear Xx. Xxxxx:
Pursuant to the Research Agreement effective September 1, 1998 (the “Agreement”), copy attached, between the University of Waterloo (“Waterloo”), Xx. Xxxx X. Xxxxxxxx (“Xxxxxxxx”), and Senesco, Inc. (“Senesco”), Waterloo, Xxxxxxxx and Senesco hereby agree to extend the Agreement for an additional one year term, effective September 1, 2008 through August 31, 2009, 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 10, effective September 1, 2007 to the amended Revised Annual Budget for Year 11 , attached hereto, effective September 1, 2008 through August 31, 2009. The Amended Revised Annual Budget for Year 11 supercedes and replaces the Revised Budget for Year 10 of the Agreement for all work commencing on or after September 1, 2008.
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Very truly yours, |
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/s/ Xxxxx X. Xxxxxx |
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Xxxxx X. Xxxxxx |
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President |
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Senesco, Inc. |
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Agreed and Accepted: |
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University of Waterloo |
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/s/ Dr. Xxxx Xxxxxxxx, Ph.D. |
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Dr. Xxxx Xxxxxxxx, Ph.D. |
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REVISED ANNUAL BUDGET
YEAR 11
PERIOD: September 1, 2008 – August 31, 2009
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Salaries |
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Cdn $/Month |
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Cdn $/12 Months |
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Senior Research Associate |
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($84,000/year + 15% benefits) |
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$ |
8,058.33 |
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$ |
96,700.00 |
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Senior Research Associate |
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($74,800/year + 15% benefits) |
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7,166.67 |
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86,000.00 |
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Research Associate |
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(Partial salary and benefits – no overhead) |
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4,166.66 |
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50,000.00 |
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Research Associate |
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($42,000/year + 15% benefits) |
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4,025.00 |
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48,300.00 |
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Research Associate |
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($42,000/year + 15% benefits) |
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4,025.00 |
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48,300.00 |
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Research Associate |
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($42,000/year + 15% benefits) |
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4,025.00 |
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48,300.00 |
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Research Associate |
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($27,300/year + 15% benefits) |
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2,616.67 |
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31,400.00 |
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Supplies |
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Operating Expenses |
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14,000.00 |
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168,000.00 |
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Overhead |
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30% on total direct costs |
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13,166.67 |
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158,000.00 |
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TOTAL ANNUAL BUDGET |
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$ |
61,250.00 |
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$ |
735,000.00 |
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