August 1, 2004
Exhibit 10.37
August 1, 2004
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 Two Year Period From September 1, 2004 Through August 31, 2006
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 two year term, effective September 1, 2004 through August 31, 2006, 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 6, effective September 1, 2003 to the Revised Annual Budget for Years 7 and 8, attached hereto, effective September 1, 2004 through August 31, 2006. The Revised Annual Budget for Years 7 and 8 supercedes and replaces the Revised Budget for Year 6 of the Agreement for all work commencing on or after September 1, 2004.
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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/ Xxxx Xxxxx |
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University of Waterloo |
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by: Xxxx Xxxxx, Contracts Manager |
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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
YEARS 7 AND 8
PERIOD: September 1, 2004 – August 31, 2006
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Salaries |
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Cdn $/Month |
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Cdn $/12 Months |
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Senior Research Associate |
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$ |
7,043.75 |
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$ |
84,525.00 |
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($73,500/year + 15% benefits) |
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Senior Research Associate |
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6,540.63 |
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78,487.50 |
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($68,250/year + 15% benefits) |
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Research Associate |
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4,025.00 |
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48,300.00 |
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($42,000/year + 15% benefits) |
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Research Associate |
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4,025.00 |
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48,300.00 |
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($42,000/year + 15% benefits) |
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Research Associate |
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4,025.00 |
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48,300.00 |
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($42,000/year + 15% benefits) |
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Research Associate |
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4,025.00 |
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48,300.00 |
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($42,000/year + 15% benefits) |
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Research Associate |
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4,025.00 |
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48,300.00 |
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($42,000/year + 15% benefits) |
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Research Associate |
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3,521.87 |
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42,262.50 |
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($36,750/year + 15% benefits) |
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Part-Time Research Associate |
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2,100.00 |
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25,200.00 |
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Graduate Student |
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875.00 |
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10,500.00 |
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Graduate Student |
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875.00 |
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10,500.00 |
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Graduate Student |
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875.00 |
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10,500.00 |
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Supplies |
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Operating Expenses |
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3,937.50 |
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47,250.00 |
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Overhead |
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40% on total direct costs |
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17,307.50 |
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207,690.00 |
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20% on graduate student |
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525.00 |
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6,300.00 |
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TOTAL ANNUAL BUDGET |
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$ |
63,726.25 |
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$ |
764,715.00 |
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