Celsion Corporation Restricted Stock Bonus Letter to Anthony P. Deasey (March 16, 2006)
Celsion Corporation has awarded Anthony P. Deasey 10,478 shares of restricted stock as 50% of his annual bonus, valued at $42,750 based on the stock's closing price on March 15, 2006. The company will hold the stock certificate until the restriction period ends on March 15, 2007, at which point the shares will be released to Mr. Deasey.
Exhibit 10.2
March 16, 2006
Dear Anthony:
As you are aware, 50% ($42,750) of your annual bonus has been issued in restricted stock which will vest March 15, 2007. The number of shares issued was calculated using the closing price of Celsion stock on March 15, 2006 ($4.08). The company will issue a certificate for 10,478 shares of Celsion stock in your name. The company will retain the certificate in safekeeping and release it to you when the restriction has been lifted on March 15, 2007.
Sincerely,
/s/ Lawrence S. Olanoff
Lawrence S. Olanoff
President – Chief Executive Officer
