Document:

Employment Agreement between Manning &#38; Napier Advisors, Inc. &#38; James Mikolaichik

 Exhibit 10.17 
 AGREEMENT 

AGREEMENT by and between Manning & Napier Advisors, Inc., a New York Corporation, with its principal office at 290 Woodcliff
Drive, Fairport, New York 14450 (as defined in section 5 below, “M&N”) and James Mikolaichik residing at 15 Minuteman Rd. Medfield, MA 02052 (“EMPLOYEE”). 

RECITALS 
 In the course of developing its investment advisory business, M&N and its affiliates have developed forms of organization, business processes, procedures, computer software, investment strategies,
screens and pricing disciplines, and other aspects of its business (collectively referred to as “procedures”) which it considers, and EMPLOYEE acknowledges, to be proprietary and/or distinctive within its businesses. Many of these
procedures have been created and refined over a period of many years, at considerable cost, and in some cases may not change for a period of many years. M&N seeks to protect its distinctive and proprietary procedures from competitors by
obtaining from EMPLOYEE herein various noncompetition and nondisclosure agreements, which EMPLOYEE acknowledges are reasonably necessary for the protection of the interests of M&N and its affiliates. EMPLOYEE hereby and freely agrees that:

 1. M&N employs EMPLOYEE, effective Sep. 12, 2011, in the capacity and upon the terms described in this Agreement.
EMPLOYEE agrees to provide a professional and competitive effort in selling and servicing the present and future investment, trust and custody business services of M&N and its affiliates, subject to the control of M&N, in territories defined
by M&N and to serve M&N diligently, according to the best of his/her ability, in all respects. EMPLOYEE shall devote his/her full efforts to marketing the services of M&N and its affiliates and shall not own any interest in any outside
business (apart from interests representing less than 5% of the outstanding shares of any publicly traded company) nor engage in expectation of compensation or profit in any other professional activities outside of M&N or any of its affiliates
(including, but not limited to: investment research, advice and discretionary management; custody and trust administration; wealth and risk management services), whether pre-existing to this Agreement or otherwise, without the prior written consent
of M&N. Any and all licenses to conduct business shall be maintained with M&N or an affiliate unless the prior written consent of M&N has been obtained to do otherwise. 

2. EMPLOYEE shall be entitled to participate in any M&N benefit program, subject to restrictions, waiting periods, etc. EMPLOYEE
understands that M&N, in its sole discretion, may change the terms of the commission, bonus, draw, benefits, sales territory, and any other aspect of EMPLOYEE’S employment or may terminate the employee at will. The parties mutually and
freely acknowledge that any future changes made by M&N to any portion of EMPLOYEE’S total compensation package or other terms of employment will not constitute a breach of the terms of this Agreement. 

 3. EMPLOYEE agrees to sell and service all products and services of M&N and its
affiliates at fee rates fixed or authorized by M&N. All accounts obtained through the efforts of EMPLOYEE are subject to acceptance by M&N, as applicable. 
 4. EMPLOYEE acknowledges that M&N retains sole discretion and authority to establish and change sales or service policy — including the computation of bonuses, commissions or other forms of
compensation — such matters within M&N’s sole discretion and authority to include, without limitation: the establishment of, and changes to, sales territories; minimum account size; minimum fees; relationships with consultants,
brokers, and/or solicitors; relationships with custodians and/or trustees; fee priority assigned to specific sales or service activities. EMPLOYEE further acknowledges that, depending upon the objectives of M&N and the conditions of the
marketplace, M&N may, in its sole discretion, change such sales or service policies for individual circumstance. The parties mutually and freely acknowledge that such changes as may be made in the future will not constitute a breach of any of
the terms of this Agreement. Changes to policies (including computations of bonuses, commissions or other forms of compensation) shall be effective upon M&N sending a memorandum to EMPLOYEE at his/her office or home address. 

5. EMPLOYEE will not disclose or use for EMPLOYEE’S own benefit or for the benefit of any other person or entity any nonpublic
confidential information, knowledge or data of or regarding M&N or any of its affiliates (for convenience hereinafter collectively referred to as “M&N” to include, but not limited to, Exeter Trust Company (“ETC”), Exeter
Advisors, Inc. (“EA”), Manning & Napier Advisory Advantage Corporation (“AAC”), Manning & Napier Investor Services, Inc. (“MNBD”), Manning & Napier Fund, Inc. (“MNF”), and other
affiliates existing or yet to be established) including, without limitation, its or their business or investment methodologies, investment technology, procedures, programs, source codes, client lists, all information and files relating to clients,
prospect lists, transaction listings, shareholder information, contract forms, marketing information, prices, product strengths and weaknesses, future developments or plans, and books, records and files. EMPLOYEE acknowledges and agrees that the
information, knowledge and data above are confidential, are not otherwise available and are provided to EMPLOYEE by virtue of his/her employment by M&N solely to enable him/her to perform his/her duties as an employee. Upon termination of
his/her employment with M&N, EMPLOYEE will deliver to M&N all copies thereof as well as any investment strategy descriptions, screens, research procedures manuals, operations and/or marketing procedures manuals, Statements of Investment
Objectives, marketing brochures, and other materials of M&N or of any of its affiliates which may be in his/her possession. EMPLOYEE will not retain but will deliver to M&N any other documents, including copies, relating to the information,
knowledge or data described above. 

 6. All inventions, discoveries, trade secrets, ideas, improvements, innovations or
developments, and other intellectual property, whether patentable or not, relating to the existing or proposed business or products of M&N, conceived, generated or reduced to practice by or worked on by EMPLOYEE, alone or in combination with
others, whether or not during working hours, during his/her employment by M&N, shall be the exclusive property of M&N. EMPLOYEE shall execute and deliver to M&N all assignments and other documents, and take all other action reasonably
requested by M&N, at M&N’s expense, during or subsequent to his/her employment with M&N, to vest title in any such inventions or other intellectual property in M&N and/or to obtain patents, trademarks or copyrights therefore. I
understand that the theft of any such inventions, trade secrets or other intellectual property can result in termination of employment as well as criminal prosecution. 
 7. For a two-year period after termination of his/her employment with M&N, EMPLOYEE will not, either directly or indirectly, whether alone or as partner, owner, officer, director, employee,
shareholder, consultant, or otherwise, without the express written consent of M&N: solicit or canvass, provide services to or do business with, in competition with the business of M&N, a person or entity known by him/her to be or have been a
client of M&N (including any AAC Personal Financial Advisor or any of their clients) at the time of his/her employment with M&N. 
 8. EMPLOYEE shall for a two-year period after termination of his/her employment with M&N, notify M&N promptly of his acceptance of a position as a partner, owner, officer, director, employee, or
consultant solely so as to enable M&N to evaluate his/her compliance with Paragraph 7. 
 9. For five years following the
termination of EMPLOYEE’S employment with M&N, EMPLOYEE will not, either directly or indirectly, whether alone or as partner, owner, officer, director, employee, shareholder, consultant, or otherwise, without the express written consent of
M&N, hire, employ, retain, contract, or otherwise engage in business association any person who then is, or has within two years prior thereto been, an employee of or consultant to M&N without the written consent of M&N. EMPLOYEE
acknowledges that the foregoing restriction is necessary since many of the strategies and other business plans and techniques of M&N have considerable ongoing value. 
 10. EMPLOYEE confirms that he/she is familiar with the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisors Act of 1940, all as amended, the applicable rules and
regulations promulgated by the Office of Comptroller of the Currency (including without limitation Regulation 9), applicable state securities laws, the Employee Retirement Income Security Act of 1974 as amended (“ERISA”), and the rules and
regulations thereunder, and with the Code of Ethics (Attached hereto). EMPLOYEE further acknowledges that compliance with applicable federal and state laws, rules and regulations — including, without limitation, applicable provisions of
securities, antifraud, and ERISA statutes and/or regulations — 

 
is vital to the business of M&N. EMPLOYEE will at all times (i) conduct himself/herself in accordance with, and will not violate, such laws, rules, regulations, and the Investment
Advisor Code of Professional Conduct and Code of Ethics, (ii) not make any statements to prospective or current customers of M&N without a reasonable factual basis therefore and (iii) not omit to make any statement to prospective or
current customers necessary to avoid causing any other statements made by him/her to be misleading. EMPLOYEE agrees that any violation of this provision, among others, shall be cause for termination under the terms of this Agreement. 

11. EMPLOYEE acknowledges that Paragraphs 5 through 10 of this Agreement — including property rights, confidentiality, provisions,
covenants concerning subsequent employment including the non-competition provision of paragraph 7, and duties of care and conduct — are reasonably necessary to protect M&N and its affiliates, that any breach or threatened breach by him/her
cannot be remedied solely by recovery of damages and that M&N and its affiliates shall be entitled to injunctive relief against any breach or threatened breach and the recovery of damages and expenses, including, without limitation, reasonable
attorneys’ fees and costs incurred as a result of any such breach or threatened breach by EMPLOYEE of these provisions and in seeking any such injunctive relief or remedy. Should M&N commence such an action and not prevail, EMPLOYEE shall
be entitled to recovery of his reasonable attorneys’ fees and costs incurred in defending against such action. 
 12.
Rights, benefits and obligations under this Agreement shall inure to the benefit of and shall be binding upon the parties hereto, any successors and assigns of M&N and/or its affiliates, and the estate and assigns of EMPLOYEE. 

13. Any waiver of a breach of, or failure to enforce, any term hereunder shall not operate as a waiver of any other breach, or that of
any other term of this Agreement. 
 14. The provisions of this Agreement are severable such that if any provision is held
invalid, the other provisions will remain valid unless specifically held to the contrary. Any provision herein held in any respect to be unenforceable shall be deemed to extend over the maximum period of time, geographic area, or range of activities
as to which they may be enforceable. 
 15. (a) This Agreement shall be construed in accordance with the substantive laws of the
State of New York, without regard to any principles of conflicts of laws. (b) Any claim by either party against the other in connection with any provision of this Agreement (including claims for injunctive relief), excluding claims described in
subparagraph (c) below, may be prosecuted in the applicable court described below. The venue for any claim or action shall be in a court in Rochester, New York, in the Western District of New York (if in federal court) and in Monroe County, New
York (if in state court). Each party consents to the exclusive jurisdiction of the courts in the preceding sentence for the claims or actions specified therein (including 

 
actions or claims by affiliates of Manning & Napier Advisors, Inc.) and each agrees that service of process shall be sufficient if sent to the applicable party at the address first
specified above, or to such other address as either party shall have designated for such purpose pursuant to paragraph 10 hereof, by registered or certified mail, postage prepaid, return receipt requested. (c) Any claim for damages by one party
against the other attributable to a breach of a provision of this Agreement or to any dispute or controversy relating to this Agreement, excluding so-called third party claims related to a pending action, shall be finally resolved through
arbitration under the applicable rules of the American Arbitration Association. Any such arbitration shall be held in Monroe County, New York, shall be arbitrated by one person who shall be a businessman not active in the investment business, and
final judgment upon the award may be entered in any court having jurisdiction thereof. Each party shall be entitled to limited discovery, i.e., the deposition of no more than ten persons or firms. Arbitrable claims may be consolidated at the
election of either party. In the event a final decision by the arbitrator is not rendered within nine months after commencement of arbitration proceedings, either party may at its election terminate the arbitration proceedings and elect to proceed
through the applicable judicial system. In such case, paragraph (a) above shall also govern any such action. Any arbitration proceedings shall be private, and the parties shall maintain in confidence the fact of arbitration, the evidence
presented and findings of the arbitration, except in each case (a) as may be required by law, or (b) to the extent necessary or desirable to prosecute, defend or enforce the arbitration proceedings or any other proceedings or actions which
may be commenced or defended by one of the parties involving the other party or any other persons. 
 16. (a) EMPLOYEE
understands and acknowledges that his/her employment under this Agreement may be terminated by M&N effective immediately without notice; or by EMPLOYEE, with or without cause, by giving thirty (30) days notice, in writing to M&N at the
address first set forth above; provided, however, that the terms outlined in Paragraphs 5 through 15 shall remain in force, despite such termination of employment. 
        (b) In the event that EMPLOYEE’S employment terminates, with or without cause, M&N shall have no obligation to EMPLOYEE, including payment of any
compensation, except for salary earned to the date of termination. All unpaid commissions and other compensation will be forfeited. 
 17. Both during and following employment by M&N, EMPLOYEE shall not in any way or manner disparage M&N or its affiliates, its or their products, investment results or officers, directors or
employees. 
 18. Notices hereunder shall be in writing to the other party and shall be given when delivered or mailed postpaid
to the other party at the address first set forth above, or to such other address as each party shall have designated for such purpose. 

 19. EMPLOYEE represents and warrants that he/she is under no obligation nor subject to any
restrictive covenant from any prior employer that would limit his/her ability to provide the services to M&N contemplated under the terms of this Agreement, and further that his/her acceptance of such duties will not breach the provisions of any
contract, agreement, or understanding to which EMPLOYEE is a party or any duty owed by EMPLOYEE to any prior employer or other person. 
 20. None of the provisions of this Agreement shall be construed to prohibit or limit EMPLOYEE’S employment at an investment firm other than M&N, after termination. 

21. EMPLOYEE acknowledges that this Agreement is a condition to being employed by M&N. 

22. This Agreement shall constitute the entire Agreement between the parties and any prior understanding or representation of any kind
preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 
  

			
	 September 9, 2011
	 	 /s/ James Mikolaichik

	Date	 	Employee Signature
		 	
	 	 	 /s/ Michelle Thomas

		 	Manning & Napier — Signature
		 	Michelle Thomas
		 	Corporate SecretaryRevised Director Compensation Policy

 Exhibit 10.1 
 CELL THERAPEUTICS, INC. 
 REVISED DIRECTOR COMPENSATION POLICY

 Effective September 20, 2011 
 Directors of Cell Therapeutics, Inc., a Washington corporation (the “Company”), who are not employed by the Company or one of its subsidiaries (“non-employee directors”) shall be
entitled to the compensation set forth below for their service as a member of the Board of Directors (the “Board”) of the Company. This policy supersedes all prior policies or provisions of any equity plans concerning compensation of the
Company’s non-employee directors. 
 Cash Compensation 

Annual Retainer for Board Service  
 Each non-employee director shall be entitled to an annual cash retainer while serving on the Board in the amount of $40,000 (the “Annual Retainer”). The Company shall pay the Annual Retainer on
a semi-annual basis, with half of the Annual Retainer to be paid on each of the first business day of January and the first business day of July. 
 Annual Retainer for Chairman of the Board Service 
 A non-employee
director who serves as the Chair of the Board shall be entitled to an annual cash retainer while serving in that position in the amount of $75,000 (the “Chair of the Board Retainer”). The Company shall pay the Chair of the Board Retainer
on a semi-annual basis, with half of the Chair of the Board Retainer to be paid on each of the first business day of January and the first business day of July. 
 Board Committee Chair Retainer 
 A non-employee director who serves
as the Chair of the Audit Committee, the Compensation Committee or the Nominating and Corporate Governance Committee shall be entitled to an annual cash retainer while serving in that position in the amount of $12,500 (the “Chair
Retainer”). The Company shall pay the Chair Retainer on a semi-annual basis, with half of the Chair Retainer to be paid on each of the first business day of January and the first business day of July. 

Board Meeting Attendance Fee 
 A non-employee director who attends a Board meeting, whether in person or telephonic and regardless of length, will be entitled to a fee in the amount of $2,750 (“Board Meeting Fee”) for each
such meeting. The Company shall pay the Board Meeting Fee in cash on a quarterly basis in arrears, with payment for a particular quarter to be made no later than ten business days following the end of that quarter. 

Board Committee Meeting Attendance Fee 
 A non-employee director who attends a Board committee meeting, whether in person or telephonic and regardless of length or whether a meeting is scheduled on the same day as a Board meeting, will be
entitled to a fee in the amount of $1,250 (“Committee Meeting Fee”) for each such meeting. The Company shall pay the Committee Meeting Fee in cash on a quarterly basis in arrears, with payment for a particular quarter to be made no later
than ten business days following the end of that quarter. 
 Equity Compensation 

Initial Equity Award for New Directors 
 On the date a new non-employee director becomes a member of the Board, the new non-employee director shall automatically be granted a restricted stock award of 18,000 shares of Company common stock and an
option to purchase 6,000 shares of Company common stock (each, an “Initial Award”). The stock option will have a per share exercise price equal to the closing price of a share of Company common stock on the date of grant of the award.

 
Each Initial Award is subject to vesting over a period of three years in substantially equal annual installments commencing on the date of grant, subject to the non-employee director’s
continued service to the Company through the applicable vesting date. An employee director who ceases to be an employee, but who remains a director, will not receive an Initial Award. 

Annual Equity Award for Continuing Board Members 
 On the date of each annual meeting of the Company’s stockholders, commencing with the 2009 Annual Meeting, each continuing non-employee director shall automatically be granted a restricted stock
award of 3,333 shares of Company common stock and an option to purchase 5,000 shares of Company common stock (each, an “Annual Award”). The stock option will have a per share exercise price equal to the closing price of a share of Company
common stock on the date of grant of the award. Each Annual Award for continuing non-employee directors shall vest in full on the earlier of (i) the one year anniversary of the date of grant and (ii) the date immediately preceding the date
of the Annual Meeting of the Company’s stockholders for the year following the year of grant for the award, subject to the non-employee director’s continued service to the Company through the vesting date. 

Provisions Applicable to All Non-Employee Director Equity Compensation Grants 

Each grant shall be subject to the terms and conditions of the Company’s 2007 Equity Incentive Plan (the “2007 Plan”), or
any successor equity compensation plan approved by the Company’s stockholders and in effect at the time of grant, and the terms of the Company’s form of non-employee director restricted stock agreement or option agreement, as applicable,
in effect on the date of grant of the award. The share numbers provided above shall be automatically and proportionately adjusted upon the occurrence of stock splits and similar events affecting the Company’s common stock if and to the extent
that such event triggers adjustment of awards then outstanding under the 2007 Plan (or any successor equity compensation plan approved by the Company’s stockholders then in effect). 

Non-employee director option grants and restricted stock awards, to the extent then outstanding and unvested, shall become fully vested
in the event of a Change in Control (as such term is defined in the 2007 Plan) that occurs while such non-employee director is a member of the Board. 
 Expense Reimbursement 
 All non-employee directors shall be entitled
to reimbursement from the Company for their reasonable travel (including airfare and ground transportation), lodging and meal expenses incident to meetings of the Board or committees thereof or in connection with other Board related business. The
Company shall also reimburse directors for attendance at director continuing education programs that are relevant to their service on the Board and which attendance is pre-approved by the Chair of the Nominating and Corporate Governance Committee or
Chair of the Board. The Company shall make reimbursement to a non-employee director within a reasonable amount of time following submission by the non-employee director of reasonable written substantiation for the expenses.

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