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Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

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From: Icebrg	7/15/2006 12:04:12 AM
	Read Replies (1) of 946

Item 1.01. Entry into a Material Definitive Agreement. On July 10, 2006, the Compensation Committee (the "Committee") of Cell Therapeutics, Inc. (the "Corporation") authorized the payment of a bonus of $169,952 to James A. Bianco, M.D., the Corporation's President and Chief Executive Officer. The Committee also authorized the payment of a contingent bonus of $169,952 to Dr. Bianco payable if the Corporation achieves, on or before September 30, 2006, its long-standing corporate objective of closing a material collaboration transaction with a pharmaceutical company, subject to certain conditions.

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