August 1, 2007
Exhibit 10.42
August 1, 2007
Ms. Xxxx Xxxxx,
Contracts Manager
Office of Research
University of Waterloo
000 Xxxxxxxxxx Xxxxxx Xxxx
Xxxxxxxx, Xxxxxxx, Xxxxxx X0X 0X0
Re: Extension
and Amendment to Budget and Research Agreement between
Waterloo, Xxxxxxxx, and Senesco for a One Year Period From
September 1, 2007 Through August 31, 2008
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, 2007 through August 31, 2008, 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 9, effective September 1, 2006 to the Revised Annual Budget for Year 10 , attached hereto, effective September 1, 2007 through August 31, 2008. The Revised Annual Budget for Year 10 supercedes and replaces the Revised Budget for Year 9 of the Agreement for all work commencing on or after September 1, 2007.
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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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/s/ University of Waterloo |
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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 10
PERIOD: September 1, 2007 – August 31, 2008
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Salaries |
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Cdn $/Month |
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Cdn $/12 Months |
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Senior Research
Associate |
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$ |
7,666.67 |
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$ |
92,000.00 |
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Senior Research
Associate |
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6,833.33 |
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82,000.00 |
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Research Associate |
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3,833.33 |
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46,000.00 |
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Research Associate |
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3,833.33 |
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46,000.00 |
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Research Associate |
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3,833.34 |
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46,000.00 |
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Research Associate |
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2,500.00 |
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30,000.00 |
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Supplies |
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Operating Expenses |
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13,333.33 |
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160,000.00 |
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Overhead |
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30% on total direct costs |
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12,550.00 |
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150,600.00 |
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TOTAL ANNUAL BUDGET |
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$ |
54,383,33 |
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$ |
652,600.00 |
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