Document:

EX-10.22

 Exhibit 10.22 
 [Cell Therapeutics, Inc. Letterhead] 
 June 9, 2012 

Steven Benner, M.D. 
 Delivered via email

 Dear Dr. Benner: 
 On behalf
of Cell Therapeutics, Inc. (CTI), we are very pleased to offer you the position of Executive Vice President & Chief Medical Officer, reporting to me. 
 This position is determined to be exempt from overtime under federal and state law. Your base salary will be payable on a semi-monthly basis at the annual rate of $380,000. Performance is reviewed on an
annual basis. As an employee, you will participate in the benefits programs offered by the Company in accordance with their terms, including vacation and sick leave and the group medical and life insurance plans provided. Vacation will accrue at 3
weeks per year (5 hours per payroll period) starting on your hire date and you will receive 5 floating/personal holidays per calendar year. 
 As part of the compensation program, you will also be eligible to receive a discretionary short term bonus (currently targeted at 30% of base pay and pro-rated for 2012, with a range to 75% of base pay)
and long term incentives such as stock options. Since the program may change from time to time, explanatory literature and an orientation to the current Company benefits and compensation program will be provided at the time you report to work.

 To assist you in your transition to CTI, we will extend a sign-on bonus of $50,000. This sign-on bonus would be paid within 30 days of your
start date and is subject to regular payroll and tax withholdings. If you voluntarily terminate your employment with CTI prior to one year from your date of hire, you will be required to repay this sign-on bonus. 

We will recommend to CTI’s Compensation Committee of the Board of Directors that you be granted 500,000 shares of CTI Common Stock. Such restricted
shares shall vest over a period of 18 months from your hire date, wherein 1/3 or 166,666 shares will vest after six months of service, and the remaining 333,334 shares will vest after 18 months of service. The award of these shares will also be
subject to shareholder approval of additional shares for the employee equity program at CTI’s next shareholder meeting. 
 Additionally, we
will recommend to the Compensation Committee of the Board of Directors that you be granted a performance-based equity award on terms that are substantially similar to the long-term equity program for executives outlined in the Form 8-K filed on
December 1, 2011 (excluding any performance goals that have been substantially achieved prior to your start date and with the grant level to be determined by the Compensation Committee). As with the time-based grant described above, this
performance grant will be subject to shareholder approval of additional shares for CTI’s stock incentive plan for employees, and if shareholders do not approve such additional shares, the award will not be effective. No shares will be issued
under either of these awards unless and until such shareholder approval is obtained. Each of these grants will be subject to the terms of CTI’s standard form of agreement for that type of award. 

 Steven Benner, M.D. 
 Page Two 
 June 9, 2012 

 

 As an Executive Vice President you will also qualify for the Strategic Management Team Severance
Agreement. This effective date of this agreement will be your employment start date with CTI, and the actual document will be provided to you within 45 days of your employment start date. 
 In order to assist you with your move to CTI, we are offering relocation assistance package as outlined in the attached “Summary of Relocation Benefits”. As a part of your relocation package we
are offering you a one-time transition allowance in the amount of $35,000 to assist with up to six months of your temporary housing and other miscellaneous expenses involved in the move to CTI. This one-time allowance will be paid within 30 days of
your start date and is subject to regular payroll tax withholding. If you choose to voluntarily terminate your employment with CTI prior to completing 1 year of service from the date of hire, you will be expected to repay any incurred moving costs
and the transition allowance. 
 We are excited about having you as a part of the CTI team. We believe you to be a key participant in CTI’s
future success. If you accept this offer, please sign and date this letter, return a copy to us and keep a copy for your files. We will also provide you an Employee Invention and Proprietary Information Agreement that we require all employees to
sign prior to commencing employment with the Company. Please sign and return for the Company’s signature, and we will return a copy to you for your records. 
 Neither CTI’s offer nor your acceptance of it constitutes a contract or covenant of employment; your employment is “at will” and may be terminated at any time either by you or by CTI, with
or without cause. 
 We look forward to you joining the CTI Team. If you have any questions about this offer, please give me a call. 

Sincerely, 
  

	
	 /s/ James Bianco, M.D.

	 James Bianco, M.D.

Chief Executive Officer

Cell Therapeutics, Inc.

 Enc. (2) 

Acceptance: 
 I accept the offer contained
herein and will report to work on June 13, 2012. 
  

			
	Signature	 	 /s/ Steven Benner, M.D.

	
	Date June 12, 2012

 SUMMARY OF RELOCATION BENEFITS 

Your relocation is a very important part of your transition into CTI. The following benefits are designed to help coordinate many aspects of your move
and to share in the expenses. It is our goal to work together to ensure your moving needs are met in the most cost-effective way. 
 To qualify
for relocation benefits, the employee must meet the following criteria: 
  

	 	•	 	 The new work site is greater than 50 miles from the principal residence at the time of hire (IRS regulation 1/1/94). 

 

	 	•	 	 The employee is hired for an exempt, full time position. 

 

	 	•	 	 All travel and other expenses to be reimbursed by CTI must be relocation oriented. 

HOUSE-HUNTING TRIP (IF NECESSARY) — INCLUDED IN LUMP SUM AS NOTED IN OFFER 

 

	 	•	 	 One round trip airfare for employee and significant other. 

 

	 	•	 	 Reasonable meals and lodging for three nights. 

  

	 	•	 	 When looking for an apartment or rental home, CTI will pay for up to $500 of escorted service. This service is provided by Primacy Relocation. Primacy
will provide the employee with a rental assistance program packet with information of services provided. 

  

	 	•	 	 Compact car rental. 

  

	 	•	 	 Any changes or substitutions made in reference to the House Hunting Trip must be approved by Human Resource Development. 

TRANSFER AND SHIPMENT OF HOUSEHOLD GOODS — DIRECT BILL TO CTI 

 

	 	•	 	 Loading, transportation and unloading of household goods to new location (up to 90 days of storage for your goods is included). Packing and limited
unpacking of goods is also included. The moving company (currently United VanLines) is not allowed to pack hazardous materials, perishable items and/or items of extremely high value. The mover will determine those items. Unpacking includes removal
of items from containers and removal of containers from premises. 

  

	 	•	 	 Transportation of up to two automobiles or trucks. 

 TRAVEL EXPENSES ENROUTE TO THE NEW LOCATION — DIRECT BILL TO CTI 
  

	 	•	 	 One-way airfare for employee and immediate family to Seattle. 

 

	 	•	 	 If the employee chooses to drive, reimbursement is for actual out of pocket expenses for gas and oil or mileage at the IRS reimbursement rate for
relocation. 

	 	•	 	 If driving, reasonable lodging and meals for new employee and immediate family while enroute. We will reimburse up to the equivalent of the airfare.

 MISC.— INCLUDED IN LUMP SUM AS NOTED IN OFFER LETTER 

CTI will provide some financial assistance for an estimated six months of temporary housing. 
 ADMINISTRATION 
  

	 	•	 	 Airfare and shipment of household goods will be billed directly to CTI. 

 

	 	•	 	 Relocation expenses paid by the employee and not covered under the lump sum allowance will be reimbursed through an expense report. All reimbursed
expenses, except the miscellaneous expense check, must be supported by actual receipts. 

  

	 	•	 	 Some moving cost which you may finance with the expense check may be tax deductible, so it is advisable to keep all moving/relocation receipts.

 TIMING OF RELOCATION 
 All employees are expected to complete relocation activity within one year of their date of hire, unless specific circumstances are identified in the offer letter. 

IF EMPLOYEES TERMINATE WITHIN ONE YEAR 
 Should an employee voluntarily terminate employment prior to completing one year of service from the receipt of the relocation lump-sum, they will be expected to repay the total cost of the move and the
lump-sum. 
 TAXES 
 For
income and employment tax purposes, CTI paid relocation expenses are categorized into “qualified” and “nonqualified” expenses. 
 “Qualified” moving expenses are limited to: 
  

	 	•	 	 Transportation of household goods and personal effects from the former residence to the new residence. 

 

	 	•	 	 In transit storage expenses if incurred within any 30-day period after the day such goods and effects are moved from the former residence and prior to
delivery at new residence. 

  

	 	•	 	 Employee and family transportation costs from the former residence to the new residence (meal expenses not included). 

The distance between your new work place and old residence must be at least 50 miles further than the distance between your old work place and old
residence. 

 These “qualified” moving expenses are excludable from gross income and wages for income and
employment tax purposes to the extent they were paid by CTI whether directly or through reimbursement. Although not taxed, the “qualified” expenses reimbursed directly to you (not paid directly to the third party provider) must be reported
in Box 13 (code P) of form W-2. 
 “Non-qualified” expenses which may be reimbursed by CTI are considered wages for income and
employment tax purposes and must be reported in Box 1 of form W-2. Appropriate FICA and FIT taxes must be withheld by CTI. These expenses include, but are not limited to the following: 

 

	 	•	 	 Costs of any meals 

  

	 	•	 	 Pre-move house hunting trips 

  

	 	•	 	 Cost of temporary living 

  

	 	•	 	 Costs incident to the sale or lease of the old residence or to purchase of new residence. 

All questions related to tax implications of a prospective move should be reviewed by your accountant or tax advisor. 

 

			
	ACCEPTANCE OF RELOCATION BENEFITS & TERMS:	  	 /s/ Steven Benner, M.D.

		  	STEVEN BENNER, M.D.EX-10.23

 Exhibit 10.23 
 SEVERANCE AGREEMENT 
 This SEVERANCE AGREEMENT (the
“Agreement”) is entered into by and between Cell Therapeutics, Inc., a Washington corporation (“CTI” or the “Company”), and Steven E. Benner, M.D. (the “Executive”).

 WHEREAS, CTI recognizes the Executive’s expertise in connection with Executive’s employment by CTI;

 WHEREAS, CTI desires to provide certain severance pay to Executive upon the terms and conditions below, if the
Executive’s employment is terminated for the reasons set forth herein; and 
 NOW, THEREFORE, in consideration of
the following promises, mutual agreements and covenants and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows: 

Definition of Terms.  
 For
purposes of this Agreement “Cause” is defined as (i) an act of material dishonesty made by Executive in connection with Executive’s responsibilities as an employee, (ii) Executive’s
conviction of, or pleas of nolo contendere to, a felony, (iii) Executive’s gross misconduct, or (iv) Executive’s continued substantial violations of his employment duties after Executive has received a written demand for
performance from the Company which specifically sets forth the factual basis for the Company’s belief that the Executive has not substantially performed his duties and provides Executive thirty (30) days to cure any such violation(s).

 “Change in Control” shall mean the acquisition, directly or indirectly, by any individual, entity or
group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1933 (the “Exchange Act”)) of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act)
of securities representing fifty point one percent (50.1%) or more of either (a) the then outstanding shares of Common Stock (the “Outstanding Company Common Stock”) or (b) the combined voting
power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided however, that the
following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from the Company (excluding an acquisition by virtue of the exercise of a conversion privilege), (B) any acquisition by the Company, (C) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any corporation pursuant to a reorganization, merger or consolidation
which does not substantially change the proportional ownership in the Outstanding Company Common Stock and Outstanding Company Voting Securities prior to the reorganization. 
 Resignation for “Good Reason” shall mean the resignation of the Executive after the following: (A) notice in writing is given to Executive of Executive’s
relocation, without the Executive’s consent, to a place of business outside the Greater Puget Sound area, (B) a substantial diminution of the Executive’s responsibilities and benefits in effect on the date hereof, (C) knowledge
of an act or intent to commit an act in violation of the Sarbanes-Oxley Act of 2002, the federal 

 
securities laws and any other law applicable to the conduct of the Company’s business; provided, however, that “Good Reason” shall not exist if Executive knowingly
participated in such act or was aware of its commission or intended commission and did not take reasonable steps to prevent or report it, or (D) the occurrence of a Change in Control. A change in title and any alterations in Executive’s
responsibilities which CTI imposes in response to any unsatisfactory or unacceptable work performance by Executive after Executive has received a written demand for performance from the Company which specifically sets forth the factual basis for the
Company’s belief that the Executive has not substantially performed his duties and provides Executive thirty (30) days to cure any such violation(s) shall not constitute a basis for “resignation for Good Reason” under this
Agreement. 
 “Severance Date” shall mean the date specified in a written notice of termination from CTI
to the Executive or the date which is the later of CTI’s actual receipt of Executive’s written notice of resignation or the effective date of resignation. 
 “Severance End Date” shall mean a date eighteen (18) months from the Executive’s Severance Date. 

“Severance Pay” shall only mean the Executive’s base salary at the Severance Rate. 

“Severance Rate” shall mean only the Executive’s base salary in effect immediately prior to the Severance Date
and shall not include any commissions (unless already determined and awarded prior to the Severance Date), vacation pay, sick leave, or the like whatsoever. 
  

	1.	Termination of Employment. Subject to the Executive’s continuing obligations under the parties’ Employment Agreement (attached):

  

	 	(a)	Termination for Cause; Death; Disability; Resignation Without Good Reason. If the Executive’s employment is terminated by CTI for Cause, or if the Executive
resigns from employment hereunder, other than for Good Reason or as a result of such Executive’s death or disability (as defined in CTI’s disability plan applicable to the Executive), the Executive shall be entitled only to receive:
i) Severance Pay through and including the Severance Date; and ii) pay for all vacation time accrued as of the Severance Date. 

  

	 	(b)	 Termination Without Cause; Resignation for Good Reason. If the Executive’s employment is terminated by CTI without Cause, or if the
Executive resigns from Executive’s employment for Good Reason and provided that such termination constitutes a “separation from service” as defined in Treasury Regulation Section 1.409A-1(h) (“Separation”) and
Executive executes and does not revoke a general release of all claims in the form prescribed by the Company and such release becomes effective within sixty (60) days of Executive’s Separation (the “Deadline”), the
Executive shall be entitled to receive: (i) eighteen (18) months of Severance Pay; (ii) an amount equal to the greater of the average of the three (3) prior years’ bonuses or thirty percent (30%) of base salary in
effect upon Executive’s Severance Date; (iii) pay for all vacation time accrued as of the Severance Date; and (iv) CTI shall continue to pay premiums to maintain any life

  
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insurance for Executive, existing and paid for by CTI as of the Severance Date, for eighteen (18) months following the Severance Date. The parties agree that the foregoing shall be paid
as follows: (w) the Severance Pay provided in (i) above shall be paid in eighteen (18) equal installments pursuant to CTI’s regular payroll procedures commencing on the Company’s first normal payroll date that occurs on
or after the Deadline, (x) the severance provided in (ii) above shall be paid on the first normal payroll date on or after the Deadline, (y) the accrued but unused vacation shall be paid on the Severance Date and (z) premium
payments for life insurance shall be made on each regularly scheduled due date for such payments beginning with the first regularly scheduled due date that occurs on or after the Deadline Date (with any payments due prior to such time being made on
such date). In addition, CTI shall reimburse the Executive for any premium payments for COBRA continuation coverage for the Executive and Executive’s covered dependents under CTI’s medical plan only for the period from the Severance Date
until the earlier of: (1) a date eighteen (18) months after the Severance Date; or (2) a date on which the Executive is covered under the medical plan of another employer, which does not exclude pre-existing conditions. At
Executive’s sole cost and expense, Executive may elect to exercise any disability insurance conversion originally available to Executive under the then existing group or individual disability insurance policies. In the event of a breach of the
Inventions and Proprietary Information Agreement, in addition to any other remedy available to CTI, all of CTI’s obligations under this Section 1(b) shall terminate immediately. 

For purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), each payment that is
paid under the preceding paragraph (other than payments referenced in Section 1(b)(iii) above and COBRA reimbursements) is hereby designated as a separate payment. Notwithstanding anything stated herein, if the Company (for this purpose,
“employer” as defined in Treasury Regulation Section 1.409A-1(h)(3)) is publicly traded on an established securities market or otherwise at the time of Executive’s Separation and, at the time of Executive’s Separation
Executive is a “specified employee,” as defined in Treasury Regulation Section 1.409A-1(i), then any severance that Executive would otherwise be entitled to pursuant to 1(b) during the six (6) month period following his
Separation (for purposes of clarity, this does not include amounts referenced in Section 1(b)(iii) above or COBRA reimbursements) shall not be paid during such six (6) month period and shall instead be paid on the first business day
following the expiration of such six (6) month period or, if earlier, the date of Executive’s death, and any remaining payments shall continue to be paid in accordance with this Section 1(b). 

The Executive shall have no right under this Agreement or otherwise to receive any bonus, stock options, or other compensation awarded or
benefits provided, determined or paid subsequent to the Severance Date to other employees of CTI, pro rata or otherwise. However, if Executive is terminated by CTI without Cause or the Executive resigns from

  
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Executive’s employment for Good Reason, all unvested stock based compensation to which the Executive may have rights on the Severance Date shall accelerate and immediately vest and all
options shall remain exercisable as provided for in the parties’ corresponding Stock Option Agreement(s). Notwithstanding the foregoing, if and only if, CTI is a privately held company on the Executive’s Severance Date, CTI shall recommend
to the Board of Directors to extend the exercise period from three (3) months to two (2) years after the Severance Date for stock options other than any incentive stock options in which the Executive may have rights on the Severance Date;
provided however, should CTI stock become publicly traded during any extended stock option exercise period granted hereunder, Executive may only exercise stock options in which Executive may have rights during the three (3) month period
following the date a corresponding S-8 registration statement is declared effective; or ii) the last day of the extended stock option exercise period. The decision to accept CTI’s recommendation to extend the exercise period shall be
within the sole discretion of the Board of Directors. If CTI Common Stock is publicly traded on the Severance Date, any exercise period will remain as provided for in the parties’ corresponding Stock Option Agreement(s). 

 

	2.	 Section 280G. Notwithstanding anything contained in this Agreement, or in any other employment, severance or similar agreement between
Executive and the Company to the contrary, to the extent that the payments and benefits provided under this Agreement and benefits provided to Executive, or for Executive’s benefit, under any other Company plan or agreement (such payments or
benefits are collectively referred to as the “Benefits”) would be subject to the excise tax (the “Excise Tax”) imposed under Section 4999 of the Internal Revenue Code of 1986, as amended (the
“Code”), the Benefits shall be reduced (but not below zero) if and to the extent that a reduction in the Benefits would result in Executive retaining a larger amount, on an after-tax basis (taking into account federal, state and
local income taxes and the Excise Tax), than if Executive received all of the Benefits (such reduced amount is referred to hereinafter as the “Limited Benefit Amount”). Unless Executive shall have given prior written notice (to the
extent such a notice does not result in any tax liabilities under Section 409A of the Code) specifying a different order to the Company to effectuate the Limited Benefit Amount, the Company shall reduce or eliminate the Benefits by first
reducing or eliminating those payments of benefits which are not payable in cash and then by reducing or eliminating cash payments, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time from the
Determination (as defined below). Any notice given by Executive pursuant to the preceding sentence shall take precedence over the provisions of any other plan, arrangement or agreement governing Executive’s rights and entitlements to any
benefits or compensation. A determination as to whether the Benefits shall be reduced to the Limited Benefit Amount pursuant to this Agreement and the amount of such Limited Benefit Amount shall be made by Company’s independent public
accountants or another certified public accounting firm of national reputation designated by the Company (the “Accounting Firm”) at the Company’s expense. The Accounting Firm shall provide its determination (the
“Determination”), together with 

  
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detailed supporting calculations and documentation to Executive and the Company within five (5) days of the date of termination of Executive’s employment, if applicable, or such other
time as requested by Executive or the Company (provided Executive reasonably believes that any of the Benefits may be subject to the Excise Tax), and if the Accounting Firm determines that no Excise Tax is payable by Executive with respect to any
Benefits, it shall furnish Executive with an opinion reasonably acceptable to Executive that no Excise Tax will be imposed with respect to any such Benefits. Unless Executive provides written notice to the Company within ten (10) days of the
delivery of the Determination to Executive that Executive disputes such Determination, the Determination shall be binding, final and conclusive upon Executive and the Company. 

 

	3.	Agreement Termination; Employment at Will. This Agreement shall terminate on the date of termination of the Executive’s employment or, if applicable, the
Severance End Date, but Executive’s obligations under the attached Inventions and Proprietary Information Agreement shall continue in accordance with the terms and conditions therein. Although this Agreement sets forth certain rights and
obligations of CTI and Executive if Executive’s employment is terminated without Cause by CTI or if the Executive resigns for Good Reason from CTI, nothing in this Severance Agreement is intended to limit CTI’s right or ability to
terminate the Executive’s employment with or without cause at any time or the Executive’s ability to resign Executive’s employment for any reason. No term of this Severance Agreement shall be construed to conflict with or lessen
Executive’s obligations under the Employment Agreement previously signed. 

  

	4.	Amendment; Waiver. This Agreement may not be modified, amended or waived in any manner except by an instrument in writing signed by both parties. Any such
modification, amendment or waiver on the part of CTI shall have been previously approved by the Board. The waiver by either party of compliance with any provision of this Agreement by the other party shall not operate or be construed as a waiver of
any other provision of this Agreement, or of any subsequent breach by such party of any provision of this Agreement. This Agreement shall be binding upon any successor to CTI, by merger or otherwise. 

 

	5.	Withholding. Payments to the Executive of all compensation contemplated under this Agreement shall be subject to all applicable legal requirements with respect
to the withholding of taxes and similar deductions. Additionally, if the Executive owes any moneys to CTI on the Severance Date, Executive’s signature below constitutes Executive’s written consent to deduct from any Severance Pay amounts
that the Executive owes CTI. 

  

	6.	Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF WASHINGTON APPLICABLE TO
CONTRACTS EXECUTED IN AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICT OF LAWS. 

  
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	7.	Supersedes Previous Agreements. This Agreement supersedes all prior or contemporaneous negotiations, commitments, agreements and writings with respect to the
subject matter hereof, without limitation. All such other negotiations, commitments, agreements and writings shall have no further force or effect, and the parties to any such other negotiation, commitment, agreement or writing shall have no further
rights or obligations thereunder. 

  

	8.	Voluntary Agreement. Executive understands the significance and consequences of this Agreement and acknowledges that CTI has not coerced Executive’s
acceptance thereof, and has signed this Agreement only after full reflection and analysis. Executive expressly confirms that the Agreement is to be given full force and effect according to all of its terms. Executive was advised to seek legal
counsel prior to signing the Agreement. 

  

	9.	Assignment. This Agreement will be binding upon and inure to the benefits of (a) the heirs, executors and legal representatives of Executive upon
Executive’s death and (b) any successor of the Company. Any such successor to the Company will be deemed substituted for the Company under the terms of the Agreement for all purposes. For this purpose “successor” means any
person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company. None of the rights of Executive to
receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance or other disposition of Executive’s
right to compensation or other benefits will be null and void. 

 IN WITNESS WHEREOF, this Agreement has
been executed by a duly authorized officer of CTI and by the Executive in Executive’s individual capacity as of the date(s) set forth below. 
  

							
	CELL THERAPEUTICS, INC.	  		  	EXECUTIVE
				
	By:	  	 /s/ James Bianco, M.D.
	  		  	 /s/ Steven Benner, M.D.

							
	Title: Chief Executive Officer	  		  	Steven Benner, M.D.
			
	Date: July 18, 2012	  		  	Date: July 19, 2012
				
	Address:  	  	501 Elliott Avenue West, Suite 400	  		  	Address: 1221 First Avenue, Apt. 1507
		  	Seattle, WA 98119	  		  	Seattle, WA 98101

  
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