ICAGEN, INC. RESTRICTED STOCK UNIT AGREEMENT2004 Stock Incentive • February 14th, 2011 • Icagen Inc • Pharmaceutical preparations • Delaware
Icagen, Inc.Icagen Inc • February 14th, 2011 • Pharmaceutical preparations
In light of economic and financial market conditions and their impact on Icagen, Inc. (“Icagen”), you entered into a letter agreement with Icagen on February 11, 2009 (the “2009 Letter Agreement”) to voluntarily decline your 2% cost-of-living base salary increase approved by the Compensation Committee of Icagen’s Board of Directors on January 23, 2009, and additionally voluntarily took a 10% reduction to your base salary then in effect. On February 8, 2011, the Compensation Committee approved a 3% cost-of-living base salary increase for you which constituted a “Determination Date” pursuant to the 2009 Letter Agreement and triggered termination of the 2009 Letter Agreement. In light of continuing economic and financial market conditions and their impact on Icagen, you wish to continue to forego the 2% cost-of-living base salary increase approved by the Compensation Committee on January 23, 2009 and the reduction of your base salary by 10% of its 2008 level on the terms and subject to th
